Civic Intelligence

Lakewood Community Development

990 • Fiscal year 2013 • EIN 56-1744587

Jan 01, 2013 to Dec 31, 2013 • Filed on Jun 20, 2014

Organization Profilewww.lakewood-cdc.org
PO Box 33844Charlotte, NC 28233

(704) 369-2603

Siviq Scores

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

Liabilities / Assets

86th percentile

0.88x

Higher debt load relative to assets than 86% of similar nonprofits.

2013 filings • NTEE S • $500k-$1M nonprofits • Source year 2013

Liabilities / Revenue

96th percentile

6.58x

Higher debt load relative to revenue than 96% of similar nonprofits.

2013 filings • NTEE S • $500k-$1M nonprofits • Source year 2013

Net Margin

12th percentile

-33%

Higher net margin than 12% of similar nonprofits.

2013 filings • NTEE S • $500k-$1M nonprofits • Source year 2013

Top Officer Pay

50th percentile

$24,960

Higher top officer pay than 50% of similar nonprofits.

Top officer pay equals 36.3% of source-year revenue.

2013 filings • NTEE S • $500k-$1M nonprofits • Source year 2013

Asset Growth

25th percentile

-5.0%

Faster asset growth than 25% of similar nonprofits.

2013 filings • NTEE S • $500k-$1M nonprofits • Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2012 to 2013

Balance Sheet
Liabilities / Assets86th percentile

Assets

Down

$514,406

Down $27,106 (-5.0%) from 2012

Net Assets

Down

$62,078

Down $22,796 (-27%) from 2012

Liabilities

Down

$452,328

Down $4,310 (-0.9%) from 2012

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin12th percentile

Revenue

Up

$68,696

Up $109,106 (+270%) from 2012

Expenses

Up

$91,492

Up $12,267 (+15%) from 2012

Net Income

Up

-$22,796

Up $96,839 (+81%) from 2012

Historical Trend

Balance Sheet Trend

Asset Growth25th percentile

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

$800K$600K$400K$200K$0Assets 2010: $712,441Liabilities 2010: $501,431Net Assets 2010: $211,0102010Assets 2011: $689,465Liabilities 2011: $484,956Net Assets 2011: $204,5092011Assets 2012: $541,512Liabilities 2012: $456,638Net Assets 2012: $84,8742012Assets 2013: $514,406Liabilities 2013: $452,328Net Assets 2013: $62,0782013Assets 2014: $380,635Liabilities 2014: $377,0872014Assets 2015: $347,680Liabilities 2015: $41,665Net Assets 2015: $306,0152015Assets 2016: $337,847Liabilities 2016: $39,732Net Assets 2016: $298,1152016Assets 2017: $276,716Liabilities 2017: $2,528Net Assets 2017: $274,1882017

Highlighted filing

2013

Assets$514,406
Liabilities$452,328
Net Assets$62,078
Open 2013 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$400K$200K$0-$200KExpenses 2010: $243,2222010Expenses 2011: $190,5202011Revenue 2012: -$40,410Expenses 2012: $79,225Net Income 2012: -$119,6352012Revenue 2013: $68,696Expenses 2013: $91,492Net Income 2013: -$22,7962013Revenue 2014: $32,487Expenses 2014: $91,017Net Income 2014: -$58,5302014Revenue 2015: $384,241Expenses 2015: $81,773Net Income 2015: $302,4682015Revenue 2016: $82,300Expenses 2016: $90,200Net Income 2016: -$7,9002016Revenue 2017: $18,741Expenses 2017: $42,668Net Income 2017: -$23,9272017

Highlighted filing

2013

Revenue$68,696
Expenses$91,492
Net Income-$22,796
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Jun 20, 2014
Return Version
2013v3.1
Gross Receipts
$72,706
Mission and Program Overview

Mission

Our mission is to generate neighborhood physical improvements, particularly affordable housing that enhances community safety, for present and future Lakewood residents, to connect Lakewood families and individuals with each other, and to reinforce and strengthen the personal assets and human potential of Lakewood residents of all ages.

Inner city neighborhood revitalization

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$480,121$460,847▼ $19,274
Cash and Non-Interest-Bearing Accounts$33,622$26,767▼ $6,855
Savings and Temporary Cash Investments$25,414$25,434▲ $20
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$541,512$514,406▼ $27,106
Other Assets Total$2,355$1,358▼ $997
Liabilities
Mortgage Notes Payable Secured by Investment Property$449,772$445,779▼ $3,993
Accounts Payable and Accrued Expenses$4,276$3,959▼ $317
Escrow Account Liability$2,590$2,590→ $0
Total Liabilities$456,638$452,328▼ $4,310
Net Assets / Fund Balance
Unrestricted Net Assets$76,586$53,973▼ $22,613
Temporarily Rstr Net Assets$8,288$8,105▼ $183
Total Net Assets Fund Balance$84,874$62,078▼ $22,796
Total Liabilities and Net Assets / Fund Balance$541,512$514,406▼ $27,106

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$228,648$172,350$400,998
Land$227,222-$227,222
Equipment$4,977$22,273$27,250
Compensation and Service Providers
Top Officer Pay50th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Mr Scott TerryExecutive DirectorFT$24,960$24,960

Board Members and Trustees

NameTitle
Mr Harry JohnsonPresident
Ms Delores MillerVice President
Mr Bob BishopDirector
Mr Chris OgunrindeDirector
Mr Mark SlocumDirector
Mr Norman Mitchell SrDirector
Mr Stephen CornwellDirector
Mrs Catherine EvansDirector
Ms Mary FordDirector
Ms Sanseiree WilliamsDirector
Ms Vivienne JohnsonDirector
Mr Osce SelfSecretary
Ms Kathryn LongTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$38,289
Program Service Revenue
$30,622
Investment Income
$-290
Other Revenue
$75
All Other Contributions
$30,879
Change in Net Assets
$-22,796

Audited Revenue Reconciliation

Revenue per Audited Statements
$68,696
Total Revenue per Audited Statements
$68,696
Total Revenue per Form 990
$68,696
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$63,845
Salaries, Compensation, and Employee Benefits$27,647
Total Fundraising Expense$1,067
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$23,662$1,253$45$24,960
Depreciation Depletion$13,645$1,138$379$15,162
Fees for Services Accounting-$14,359-$14,359
Occupancy$10,260$855$285$11,400
Fees for Services Other$7,554--$7,554
Insurance$5,928$494$165$6,587
Payroll Taxes$2,547$135$5$2,687
Travel$1,126$94$31$1,251
All Other Expenses$352$225$8$585
Other Expenses$446$490$12$490
Interest$436--$436
Fees for Services Legal-$56-$56
Total Functional Expenses$70,878$19,547$1,067$91,492

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$91,492
Total Expenses per Audited Statements$91,492
Total Expenses per Form 990$91,492
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Other officer compensation reviewed
Yes
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, Line 11B: Form 990 Review Process

“The Form 990 is reviewed by the Executive Director and the Treasurer of the organization.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“Annual collection of signed conflict of interest forms.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“All salary and wage decisions are discussed and approved by the Board of Directors as it approves the annual budget.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“All salary and wage decisions are discussed and approved by the Board of Directors as it approves the annual budget.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“The Form 990 is available upon request and via the GuideStar website. The by-laws and conflict of interest policy are available upon request.”

Filing and Contact Details

Filer

EIN
56-1744587
Phone
7043692603

Signing Officer

Name
Ms Kathryn Long
Title
Treasurer
Signed
2014-06-20
Discuss with paid preparer
Yes

Organization Details

Formed
1991
Legal Domicile
Nc
Voting Board Members
13
Independent Board Members
13
Employees
1
Volunteers
25

Preparer

Preparer
Terry W Lancaster
Phone
7043721515
Supplemental Narrative

Additional Explanations

Government grants

“In 2006, Lakewood Community Development Corporation in partnership with Charlotte Mecklenburg Housing Partnership accepted a grant from the City of Charlotte in the amount of $597,846. The 2006 grant agreement required that all unused or recovered funds be returned to the City of Charlotte. On March 1, 2012, Lakewood CDC delivered $117,665 to the City of Charlotte for funds recovered from the sale of properties to close out the 2006 grant.”

Financial Statement Notes

Part IV, Line 2B: Explanation of escrow account liability

“Rental security deposits are held in a non-interest bearing checking account.”

Part X : FIN48 Footnote

“U.S. generally accepted accounting principles requires an organization to recognize a tax benefit or expense from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. Lakewood CDC has no uncertain tax positions as of December 31, 2013.”

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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/InventoriesForSaleOrUseGrp/EOYAmt00
IRS990/InvestmentIncomeGrp/ExclusionAmt020
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt020
IRS990/InvestmentInJointVentureInd0false
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt00
IRS990/InvestmentsProgramRelatedGrp/EOYAmt00
IRS990/InvestmentsPubTradedSecGrp/EOYAmt00
IRS990/InvestTaxExemptBondsInd0false
IRS990/IRPDocumentCnt04
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt0194623
IRS990/LandBldgEquipBasisNetGrp/BOYAmt0480121
IRS990/LandBldgEquipBasisNetGrp/EOYAmt0460847
IRS990/LandBldgEquipCostOrOtherBssAmt0655470
IRS990/LegalDomicileStateCd0NC
IRS990/LessCostOthBasisSalesExpnssGrp/OtherAmt04010
IRS990/LicensedMoreThanOneStateInd0false
IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0Our mission is to generate neighborhood physical improvements, particularly affordable housing that enhances community safety, for present and future Lakewood residents, to connect Lakewood families and individuals with each other, and to reinforce and strengthen the personal assets and human potential of Lakewood residents of all ages.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt0449772
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt0445779
IRS990/NetAssetsOrFundBalancesBOYAmt084874
IRS990/NetAssetsOrFundBalancesEOYAmt062078
IRS990/NetGainOrLossInvestmentsGrp/RelatedOrExemptFuncIncomeAmt0-310
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-310
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/FundraisingAmt0285
IRS990/OccupancyGrp/ManagementAndGeneralAmt0855
IRS990/OccupancyGrp/ProgramServicesAmt010260
IRS990/OccupancyGrp/TotalAmt011400
IRS990/OfficeExpensesGrp/TotalAmt00
IRS990/OfficerMailingAddressInd0false
IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OrgFiledInLieuOfForm1041Ind0false
IRS990/OtherAssetsTotalGrp/BOYAmt02355
IRS990/OtherAssetsTotalGrp/EOYAmt01358
IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0Material and supplies
IRS990/OtherExpensesGrp/Desc1Telephone and utilities
IRS990/OtherExpensesGrp/Desc2Postage and Shipping
IRS990/OtherExpensesGrp/Desc3Licenses & Fees
IRS990/OtherExpensesGrp/FundraisingAmt0101
IRS990/OtherExpensesGrp/FundraisingAmt136
IRS990/OtherExpensesGrp/FundraisingAmt212
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0302
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1108
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt238
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt3490
IRS990/OtherExpensesGrp/ProgramServicesAmt03626
IRS990/OtherExpensesGrp/ProgramServicesAmt11296
IRS990/OtherExpensesGrp/ProgramServicesAmt2446
IRS990/OtherExpensesGrp/TotalAmt04029
IRS990/OtherExpensesGrp/TotalAmt11440
IRS990/OtherExpensesGrp/TotalAmt2496
IRS990/OtherExpensesGrp/TotalAmt3490
IRS990/OtherRevenueMiscGrp/Desc0Miscellaneous income
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt075
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt075
IRS990/OtherRevenueTotalAmt075
IRS990/OtherSalariesAndWagesGrp/TotalAmt00
IRS990/OtherWebsiteInd0X
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt05
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt0135
IRS990/PayrollTaxesGrp/ProgramServicesAmt02547
IRS990/PayrollTaxesGrp/TotalAmt02687
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0Rental Income
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt030622
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt030622
IRS990/ProgSrvcAccomActy2Grp/Desc0Community Connecting - To connect Lakewood families and individuals with each other
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt021324
IRS990/ProgSrvcAccomActy3Grp/Desc0Physical Development - To generate neighborhood physical improvements - particularly affordable housing that enhances community safety - for present and future Lakewood residents
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt06625
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0-79520
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt04093
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt060813
IRS990/PYOtherRevenueAmt04206
IRS990/PYProgramServiceRevenueAmt030811
IRS990/PYRevenuesLessExpensesAmt0-119635
IRS990/PYSalariesCompEmpBnftPaidAmt018412
IRS990/PYTotalExpensesAmt079225
IRS990/PYTotalRevenueAmt0-40410
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-22796
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt025414
IRS990/SavingsAndTempCashInvstGrp/EOYAmt025434
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt038289
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0-79520
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0156976
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0224712
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0114142
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0454599
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt020
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt035
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt0130
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt0332
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt0517
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt030622
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt030811
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt026853
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt032169
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt029637
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0150092
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt020
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt035
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0130
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0332

Document Assets

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Filings

Displayed year

2013 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$514,406
Liabilities
$452,328
Net assets
$62,078
Revenue
$68,696
Expenses
$91,492
Net income
-$22,796
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2017Detailed filing. Detailed filing data is available for this year.$2.77$0.03$2.74$0.19$0.43$0.24
2016Detailed filing. Detailed filing data is available for this year.$3.38$0.40$2.98$0.82$0.90$0.08
2015Detailed filing. Detailed filing data is available for this year.$3.48$0.42$3.06$3.84$0.82$3.02
2014Summary only. Only limited summary data is available for this year.$3.81$3.77$0.32$0.91$0.59
2013Detailed filing. Detailed filing data is available for this year.$5.14$4.52$0.62$0.69$0.91$0.23
2012Summary only. Only limited summary data is available for this year.$5.42$4.57$0.85$0.40$0.79$1.20
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.89$4.85$2.05$1.91
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.12$5.01$2.11$2.43