Civic Intelligence

Crater Development Company

990 • Fiscal year 2016 • EIN 54-1256173

Jul 01, 2015 to Jun 30, 2016 • Filed on May 11, 2017

Organization ProfileN/A
Post Office Box 1808Petersburg, VA 23805

(804) 861-1666

Siviq Scores

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

Liabilities / Assets

97th percentile

1.12x

Higher debt load relative to assets than 97% of similar nonprofits.

2016 filings • 501(c)4 • <$500k nonprofits • Source year 2016

Liabilities / Revenue

99th percentile

5.82x

Higher debt load relative to revenue than 99% of similar nonprofits.

2016 filings • 501(c)4 • <$500k nonprofits • Source year 2016

Net Margin

92nd percentile

40%

Higher net margin than 92% of similar nonprofits.

2016 filings • 501(c)4 • <$500k nonprofits • Source year 2016

Top Officer Pay

85th percentile

$0

Higher top officer pay than 85% of similar nonprofits.

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

2016 filings • 501(c)4 • <$500k nonprofits • Source year 2016

Asset Growth

70th percentile

11%

Faster asset growth than 70% of similar nonprofits.

2016 filings • 501(c)4 • <$500k nonprofits • Annualized from 2015 to 2016

Revenue Growth

3rd percentile

-81%

Faster revenue growth than 3% of similar nonprofits.

2016 filings • 501(c)4 • <$500k nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets97th percentile

Assets

Up

$58,901

Up $5,819 (+11%) from 2015

Net Assets

Down

-$6,906

Down $5,738 (-491%) from 2015

Liabilities

Up

$65,807

Up $11,557 (+21%) from 2015

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin92nd percentile

Revenue

Down

$11,309

Down $47,434 (-81%) from 2015

Expenses

Down

$6,741

Down $6,418 (-49%) from 2015

Net Income

Down

$4,568

Down $41,016 (-90%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth70th percentile

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

$1.5M$1.0M$500K$0-$500KAssets 2010: $1,103,558Liabilities 2010: $154,415Net Assets 2010: $949,1432010Assets 2011: $1,002,625Liabilities 2011: $117,716Net Assets 2011: $884,9092011Assets 2012: $973,632Liabilities 2012: $113,492Net Assets 2012: $860,1402012Assets 2013: $1,007,375Liabilities 2013: $193,026Net Assets 2013: $814,3492013Assets 2014: $30,649Liabilities 2014: $109,002Net Assets 2014: -$78,3532014Assets 2015: $53,082Liabilities 2015: $54,250Net Assets 2015: -$1,1682015Assets 2016: $58,901Liabilities 2016: $65,807Net Assets 2016: -$6,9062016

Highlighted filing

2016

Assets$58,901
Liabilities$65,807
Net Assets-$6,906
Open 2016 Filing

Operations Trend

Revenue Growth3rd percentile

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

$200K$100K$0-$100KExpenses 2010: $147,2942010Revenue 2011: $126,176Expenses 2011: $119,314Net Income 2011: $6,8622011Expenses 2012: $124,2582012Revenue 2013: $81,096Expenses 2013: $131,482Net Income 2013: -$50,3862013Revenue 2014: $69,727Expenses 2014: $132,637Net Income 2014: -$62,9102014Revenue 2015: $58,743Expenses 2015: $13,159Net Income 2015: $45,5842015Revenue 2016: $11,309Expenses 2016: $6,741Net Income 2016: $4,5682016

Highlighted filing

2016

Revenue$11,309
Expenses$6,741
Net Income$4,568
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
May 11, 2017
Return Version
2015v3.0
Gross Receipts
$11,309
Mission and Program Overview

Mission

The company was organized to promote economic development within the crater planning district.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$36,743$42,562▲ $5,819
Savings and Temporary Cash Investments$15,948$15,948→ $0
Prepaid Expenses and Deferred Charges$391$391→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Total Assets$53,082$58,901▲ $5,819
Liabilities
Accounts Payable and Accrued Expenses$54,250$65,807▲ $11,557
Total Liabilities$54,250$65,807▲ $11,557
Net Assets / Fund Balance
Unrestricted Net Assets$-1,168$-6,906▼ $5,738
Total Net Assets Fund Balance$-1,168$-6,906▼ $5,738
Total Liabilities and Net Assets / Fund Balance$53,082$58,901▲ $5,819

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$0$13,499$13,499
Compensation and Service Providers
Top Officer Pay85th percentile

Board Members and Trustees

NameTitle
Ernest H Yerly JrPresident
James W Clements IiiVice President
Brian a MooreDirector
Bruce T BrockwellDirector
Christina Luman-baileyDirector
Christopher L EverettDirector
Dorothy JaeckleDirector
Dr Margaret T LeeDirector
Dr Mark E MooreDirector
Dr Robert L TurnerDirector
F Woodrow HarrisDirector
Floyd M BrownDirector
J Zachary TrogdonDirector
John M SewardDirector
John T WoodDirector
Mark H StevensDirector
P Eric FlyDirector
Rufus E TylerFormer Director
William CoadaFormer Director
Philip B HagerAssistant Secretary
John H JonesSecretary/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$11,286
Investment Income
$23
Other Revenue
$0
Change in Net Assets
$4,568
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$6,741
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 Legal-$2,470-$2,470
Fees for Services Accounting-$1,050-$1,050
Insurance-$391-$391
Other Expenses-$20-$20
Total Functional Expenses$0$6,741$0$6,741
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
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 11

“The 990 is submitted to the board of directors and management for review prior to being filed.”

Form 990, Part VI, Section C, Line 19

“The organization makes finacial statements avaiable upon request.”

Filing and Contact Details

Filer

Filer Name
Crater Development Company
EIN
54-1256173
Phone
8048611666
Address
POST OFFICE BOX 1808, PETERSBURG, VA 23805

Signing Officer

Name
Ernest H Yerly Jr
Title
President
Phone
8048611666
Signed
2017-05-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ernest H Yerly Jr
Formed
1983
Legal Domicile
Va
Voting Board Members
18
Independent Board Members
18
Employees
0
Volunteers
0

Preparer

Firm
Mitchell Wiggins & Company Llp
Address
100 FLANK ROAD, PETERSBURG, VA 23805-9152
Preparer
Thomas a Puryear Jr CPA Cgma
Phone
8047335566
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Adjustment of net assets transferred to cpdc -10,306.”

Form 990 XI Line 2C

“The organization's oversight of the review process has not changed from the prior year.”

Financial Statement Notes

PART X, LINE 2:

“The company applies the accounting standard regarding "accounting for uncertain tax positions". This accounting standard provides detailed guidance for financial statement recognition, measurement, and disclosure of uncertain tax positions recognized in the company's financial statements. It requires an entity to recognize the financial statement impact of a tax position when it is more likely than not that the position will not be sustained upon examination. The company includes penalties and interest assessed by income taxing authorities in operating expenses. No penalties or interest were incurred for the years ended june 30, 2015 and 2016.”

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IRS990/ProgramServiceRevenueGrp/Desc1LOAN APPLICATION FEES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt07494
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt13792
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt07494
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt13792
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt02886
IRS990/PYOtherExpensesAmt013159
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt055857
IRS990/PYRevenuesLessExpensesAmt045584
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt013159
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt058743
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt04568
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt011309
IRS990/SavingsAndTempCashInvstGrp/BOYAmt015948
IRS990/SavingsAndTempCashInvstGrp/EOYAmt015948
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt013499
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt013499
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE COMPANY APPLIES THE ACCOUNTING STANDARD REGARDING "ACCOUNTING FOR UNCERTAIN TAX POSITIONS". THIS ACCOUNTING STANDARD PROVIDES DETAILED GUIDANCE FOR FINANCIAL STATEMENT RECOGNITION, MEASUREMENT, AND DISCLOSURE OF UNCERTAIN TAX POSITIONS RECOGNIZED IN THE COMPANY'S FINANCIAL STATEMENTS. IT REQUIRES AN ENTITY TO RECOGNIZE THE FINANCIAL STATEMENT IMPACT OF A TAX POSITION WHEN IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL NOT BE SUSTAINED UPON EXAMINATION. THE COMPANY INCLUDES PENALTIES AND INTEREST ASSESSED BY INCOME TAXING AUTHORITIES IN OPERATING EXPENSES. NO PENALTIES OR INTEREST WERE INCURRED FOR THE YEARS ENDED JUNE 30, 2015 AND 2016.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE 990 IS SUBMITTED TO THE BOARD OF DIRECTORS AND MANAGEMENT FOR REVIEW PRIOR TO BEING FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION MAKES FINACIAL STATEMENTS AVAIABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ADJUSTMENT OF NET ASSETS TRANSFERRED TO CPDC -10,306.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION'S OVERSIGHT OF THE REVIEW PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART XI, LINE 9:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990 XI LINE 2C
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt053082
IRS990/TotalAssetsEOYAmt058901
IRS990/TotalAssetsGrp/BOYAmt053082
IRS990/TotalAssetsGrp/EOYAmt058901
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt06741
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt06741
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt054250
IRS990/TotalLiabilitiesEOYAmt065807
IRS990/TotalLiabilitiesGrp/BOYAmt054250
IRS990/TotalLiabilitiesGrp/EOYAmt065807
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-1168
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-6906
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceRevenueAmt011286
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt011309
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt011309
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt053082
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt058901
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-1168
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-6906
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0POST OFFICE BOX 1808
IRS990/USAddress/CityNm0PETERSBURG
IRS990/USAddress/StateAbbreviationCd0VA
IRS990/USAddress/ZIPCd023805
IRS990/VotingMembersGoverningBodyCnt018
IRS990/VotingMembersIndependentCnt018
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0ERNEST H YERLY JR
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08048611666
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-05-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CRATER DEVELOPMENT COMPANY
ReturnHeader/Filer/BusinessNameControlTxt0CRAT
ReturnHeader/Filer/EIN0541256173
ReturnHeader/Filer/PhoneNum08048611666
ReturnHeader/Filer/USAddress/AddressLine1Txt0POST OFFICE BOX 1808
ReturnHeader/Filer/USAddress/CityNm0PETERSBURG
ReturnHeader/Filer/USAddress/StateAbbreviationCd0VA
ReturnHeader/Filer/USAddress/ZIPCd023805
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0540565834
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MITCHELL WIGGINS & COMPANY LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0100 FLANK ROAD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0PETERSBURG
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0VA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0238059152

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$58,901
Liabilities
$65,807
Net assets
-$6,906
Revenue
$11,309
Expenses
$6,741
Net income
$4,568
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2016Detailed filing. Detailed filing data is available for this year.$0.06$0.07$0.01$0.01$0.01$0.00
2015Detailed filing. Detailed filing data is available for this year.$0.05$0.05$0.00$0.06$0.01$0.05
2014Detailed filing. Detailed filing data is available for this year.$0.03$0.11$0.08$0.07$0.13$0.06
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.01$0.19$0.81$0.08$0.13$0.05
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.97$0.11$0.86$0.12
2011Summary only. Only limited summary data is available for this year.$1.00$0.12$0.88$0.13$0.12$0.01
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.10$0.15$0.95$0.15