Civic Intelligence

Mount Vernon Development Company Inc

990 • Fiscal year 2017 • EIN 47-5380096

Jan 01, 2017 to Dec 31, 2017 • Filed on Mar 21, 2018

Organization ProfileN/A
PO Box 469Mount Vernon, OH 43050

(740) 392-4940

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

53rd percentile

0.12x

Higher debt load relative to assets than 53% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

87th percentile

1.20x

Higher debt load relative to revenue than 87% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

90th percentile

45%

Higher net margin than 90% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

51st percentile

3.4%

Faster asset growth than 51% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

1st percentile

-88%

Faster revenue growth than 1% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets53rd percentile

Assets

Up

$2,306,225

Up $76,216 (+3.4%) from 2016

Net Assets

Up

$2,038,088

Up $100,579 (+5.2%) from 2016

Liabilities

Down

$268,137

Down $24,363 (-8.3%) from 2016

Revenue And Expenses
Liabilities / Revenue87th percentileNet Margin90th percentile

Revenue

Down

$222,809

Down $1,689,895 (-88%) from 2016

Expenses

Up

$122,230

Up $47,040 (+63%) from 2016

Net Income

Down

$100,579

Down $1,736,935 (-95%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth51st percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$10M$5.0M$0Assets 2015: $99,995Liabilities 2015: $0Net Assets 2015: $99,9952015Assets 2016: $2,230,009Liabilities 2016: $292,500Net Assets 2016: $1,937,5092016Assets 2017: $2,306,225Liabilities 2017: $268,137Net Assets 2017: $2,038,0882017Assets 2018: $2,342,217Liabilities 2018: $264,980Net Assets 2018: $2,077,2372018Assets 2019: $8,095,610Liabilities 2019: $200,403Net Assets 2019: $7,895,2072019Assets 2020: $0Liabilities 2020: $0Net Assets 2020: $02020

Highlighted filing

2017

Assets$2,306,225
Liabilities$268,137
Net Assets$2,038,088
Open 2017 Filing

Operations Trend

Revenue Growth1st percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$10M$5.0M$0-$5.0M-$10MRevenue 2015: $100,000Expenses 2015: $5Net Income 2015: $99,9952015Revenue 2016: $1,912,704Expenses 2016: $75,190Net Income 2016: $1,837,5142016Revenue 2017: $222,809Expenses 2017: $122,230Net Income 2017: $100,5792017Revenue 2018: $236,305Expenses 2018: $197,157Net Income 2018: $39,1482018Revenue 2019: $8,966,917Expenses 2019: $3,148,947Net Income 2019: $5,817,9702019Revenue 2020: $22,143Expenses 2020: $5,851,981Net Income 2020: -$5,829,8382020

Highlighted filing

2017

Revenue$222,809
Expenses$122,230
Net Income$100,579
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Mar 21, 2018
Return Version
2017v2.2
Gross Receipts
$222,809
Mission and Program Overview

Mission

To support civic renovation efforts in mount vernon, ohio, and in doing so, lessen the burdens of government, and to receive donations consistent with the purposes of the corporation.

The purpose of the corporation shall be to support civic renovation efforts in mount vernon, ohio, and in doing so, lessen the burdens of government, and to receive donations consistent with the purposes of the corporation.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,907,725$1,929,095▲ $21,370
Investments Other Securities$310,338$241,534▼ $68,804
Cash and Non-Interest-Bearing Accounts$6,719$130,369▲ $123,650
Accounts Receivable$5,000$5,000→ $0
Total Assets$2,230,009$2,306,225▲ $76,216
Other Assets Total$227$227→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$292,500$268,137▼ $24,363
Total Liabilities$292,500$268,137▼ $24,363
Net Assets / Fund Balance
Unrestricted Net Assets$1,937,509$2,038,088▲ $100,579
Total Net Assets Fund Balance$1,937,509$2,038,088▲ $100,579
Total Liabilities and Net Assets / Fund Balance$2,230,009$2,306,225▲ $76,216

Asset Categories

AssetBook ValueDepreciationBasis
Land$1,929,095--
Other Securities$241,534--
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Kim RosePresident
Janet ReynoldsVice President
Jeff HarrisDirector
Mark R RamserDirector
Jodi PurselSecretary
Kurt SchislerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$195,550
Program Service Revenue
$0
Investment Income
$27,259
Other Revenue
$0
All Other Contributions
$195,550
Change in Net Assets
$100,579
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$122,230
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$47,773--$47,773
Interest$11,700--$11,700
Insurance$8,414--$8,414
Fees for Services Accounting-$1,880-$1,880
All Other Expenses-$535-$535
Other Expenses$11,883$400-$400
Total Functional Expenses$119,415$2,815$0$122,230
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“The governing board of mount vernon development company receive a copy of form 990 to review and approve prior to filing.”

Form 990, Part VI, Section B, Line 12C

“Mount vernon development company provides annual certification statements for all board members to monitor and enforce compliance with the conflict of interest policy.”

Form 990, Part VI, Section C, Line 18

“The organization's governing documents and policies are available for public inspection by email upon request.”

Form 990, Part VI, Section C, Line 19

“Mount vernon development company makes its governing documents, conflicts of interest policy and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Mount Vernon Development Company Inc
EIN
47-5380096
Phone
7403924940
Address
PO BOX 469, MOUNT VERNON, OH 43050

Signing Officer

Name
Kim Rose
Title
President
Phone
7403924940
Signed
2018-03-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kim Rose
Formed
2015
Legal Domicile
Oh
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
6

Preparer

Firm
Rea & Associates Inc
Address
905 ZANE STREET 2ND FLOOR, ZANESVILLE, OH 43701
Preparer
Chad a Bice CPA
Phone
7404543198
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Other consulting fees: program service expenses 47,773. Management and general expenses 0. Fundraising expenses 0. Total expenses 47,773.”

Raw XML Appendix337 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Desc0THE MOUNT VERNON DEVELOPMENT COMPANY HAS BEEN ACTIVE IN THE ACQUISITION OF PROPERTIES IN DOWNTOWN MOUNT VERNON THAT WERE IN A STATE OF DISREPAIR. UPGRADES TO THOSE PROPERTIES ARE PRESENTLY UNDERWAY. IN ADDITION, THE MOUNT VERNON DEVELOPMENT COMPANY HAS ACQUIRED TWO DILAPIDATED PROPERTIES AND ARE IN THE PROCESS OF CONSTRUCTING A LARGE PARKING AREA ADJACENT TO DOWNTOWN ON THOSE PROPERTIES. HAVING PARKING AVAILABLE WAS CRITICAL TO THE KNOX COMMUNITY HOSPITAL TO RENOVATE AN OLDER BUILDING IN DOWNTOWN MOUNT VERNON. IN JUNE OF 2017 THE HOSPITAL RELOCATED 90 JOBS TO THIS DOWNTOWN LOCATION. THE PARKING LOT WILL ALSO BE USED BY KENYON COLLEGE WITH A BUILDING THEY RECENTLY IMPROVED (A $6.3 MILLION DOLLAR PROJECT). HAVING EMPLOYEES AND STUDENTS LOCATED IN DOWNTOWN MOUNT VERNON BRINGS CONSUMERS TO A FORMERLY INACTIVE DOWNTOWN. THE WORK AND INVESTMENTS OF THE MOUNT VERNON DEVELOPMENT COMPANY ARE RESULTING IN A SIGNIFICANT ECONOMIC IMPACT TO THE CITY OF MOUNT VERNON AND ITS REGROWTH.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE GOVERNING BOARD OF MOUNT VERNON DEVELOPMENT COMPANY RECEIVE A COPY OF FORM 990 TO REVIEW AND APPROVE PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MOUNT VERNON DEVELOPMENT COMPANY PROVIDES ANNUAL CERTIFICATION STATEMENTS FOR ALL BOARD MEMBERS TO MONITOR AND ENFORCE COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S GOVERNING DOCUMENTS AND POLICIES ARE AVAILABLE FOR PUBLIC INSPECTION BY EMAIL UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3MOUNT VERNON DEVELOPMENT COMPANY MAKES ITS GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4OTHER CONSULTING FEES: PROGRAM SERVICE EXPENSES 47,773. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 47,773.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
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IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
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IRS990/TotReportableCompRltdOrgAmt00
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IRS990/UnrelatedBusIncmOverLimitInd00
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ReturnHeader/BuildTS02018-06-14 16:35:46Z
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ReturnHeader/BusinessOfficerGrp/SignatureDt02018-03-21
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ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm011:32:54
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0341310124
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0REA & ASSOCIATES INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0905 ZANE STREET 2ND FLOOR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ZANESVILLE
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ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CHAD A BICE CPA
ReturnHeader/ReturnTs02018-03-26T13:46:09-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,306,225
Liabilities
$268,137
Net assets
$2,038,088
Revenue
$222,809
Expenses
$122,230
Net income
$100,579
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2020Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.02$5.85$5.83
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.10$0.20$7.90$8.97$3.15$5.82
2018Detailed filing. Detailed filing data is available for this year.$2.34$0.26$2.08$0.24$0.20$0.04
2017Detailed filing. Detailed filing data is available for this year.$2.31$0.27$2.04$0.22$0.12$0.10
2016Detailed filing. Detailed filing data is available for this year.$2.23$0.29$1.94$1.91$0.08$1.84
2015Detailed filing. Detailed filing data is available for this year.$0.10$0.00$0.10$0.10$0.00$0.10
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2017 filings • 501(c)3 • $1M-$5M nonprofits