Civic Intelligence

Lakewood Community Development

990 • Fiscal year 2015 • EIN 56-1744587

Jan 01, 2015 to Dec 31, 2015 • Filed on Feb 05, 2016

Organization Profilewww.lakewood-cdc.org
PO Box 33844Charlotte, NC 28233-3844

(704) 497-3747

Siviq Scores

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

Liabilities / Assets

74th percentile

0.12x

Higher debt load relative to assets than 74% of similar nonprofits.

2015 filings • NTEE S • <$500k nonprofits • Source year 2015

Liabilities / Revenue

76th percentile

0.11x

Higher debt load relative to revenue than 76% of similar nonprofits.

2015 filings • NTEE S • <$500k nonprofits • Source year 2015

Net Margin

97th percentile

79%

Higher net margin than 97% of similar nonprofits.

2015 filings • NTEE S • <$500k nonprofits • Source year 2015

Top Officer Pay

82nd percentile

$24,960

Higher top officer pay than 82% of similar nonprofits.

Top officer pay equals 6.5% of source-year revenue.

2015 filings • NTEE S • <$500k nonprofits • Source year 2015

Asset Growth

30th percentile

-8.7%

Faster asset growth than 30% of similar nonprofits.

2015 filings • NTEE S • <$500k nonprofits • Annualized from 2014 to 2015

Revenue Growth

99th percentile

1083%

Faster revenue growth than 99% of similar nonprofits.

2015 filings • NTEE S • <$500k nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets74th percentile

Assets

Down

$347,680

Down $32,955 (-8.7%) from 2014

Net Assets

$306,015

No earlier filing loaded for comparison.

Liabilities

Down

$41,665

Down $335,422 (-89%) from 2014

Revenue And Expenses
Liabilities / Revenue76th percentileNet Margin97th percentile

Revenue

Up

$384,241

Up $351,754 (+1083%) from 2014

Expenses

Down

$81,773

Down $9,244 (-10%) from 2014

Net Income

Up

$302,468

Up $360,998 (+617%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth30th 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

2015

Assets$347,680
Liabilities$41,665
Net Assets$306,015
Open 2015 Filing

Operations Trend

Revenue Growth99th percentile

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

2015

Revenue$384,241
Expenses$81,773
Net Income$302,468
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Feb 5, 2016
Return Version
2015v2.1
Gross Receipts
$384,241
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 ass

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$320,336$305,364▼ $14,972
Cash and Non-Interest-Bearing Accounts$60,056$41,311▼ $18,745
Accounts Receivable$191$953▲ $762
Total Assets$380,635$347,680▼ $32,955
Other Assets Total$52$52→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$335,769--
Unsecured Notes Loans Payable$35,000$35,000→ $0
Other Liabilities$3,319$3,542▲ $223
Accounts Payable and Accrued Expenses$3,000$3,123▲ $123
Total Liabilities$377,088$41,665▼ $335,423
Net Assets / Fund Balance
Unrestricted Net Assets$-15,155$292,407▲ $307,562
Temporarily Rstr Net Assets$18,702$13,608▼ $5,094
Total Net Assets Fund Balance$3,547$306,015▲ $302,468
Total Liabilities and Net Assets / Fund Balance$380,635$347,680▼ $32,955

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$189,444$194,605$384,049
Land$111,343-$111,343
Equipment$4,577$22,673$27,250
Compensation and Service Providers
Top Officer Pay82nd percentile

Employees

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

Board Members and Trustees

NameTitle
Harry JohnsonPresident
Christian OgunrindeVice President
Delores MillerVice President
Catherine EvansDirector
Norman A Mitchell SrDirector
Stephen L CornwellDirector
Vivienne JohnsonDirector
Wm Osce SelfSecretary
Kathryn LongTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$17,530
Program Service Revenue
$0
Investment Income
$10
Other Revenue
$366,701
All Other Contributions
$17,530
Change in Net Assets
$302,468
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$53,404
Salaries, Compensation, and Employee Benefits$28,369
Total Fundraising Expense$1,467
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$21,335$2,719$906$24,960
Occupancy$16,093--$16,093
Depreciation Depletion$14,972--$14,972
Fees for Services Accounting-$13,418-$13,418
Insurance$6,121$675$206$7,002
Payroll Taxes$2,914$371$124$3,409
Information Technology$629$69$22$720
Other Expenses$105$3$199$307
Office Expenses-$99-$99
Interest$6--$6
Total Functional Expenses$62,481$17,825$1,467$81,773
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposits$2,650
Payroll Liabilities$892
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 governing body review Part VI line 11

“All officers and directors receive a copy of form 990 to review before the 990 is filed and it is approved at the following board meeting.”

Conflict of interest policy compliance Part VI line 12C

“Each officer, director, or key employee must sign an annual acknowledgement form that they do not have a conflict of interst with any vendor, supplier, or other party doing business with Lakewood Community Development Corporation.”

Governing documents etc available to public Part VI line 19

“The organization makes their governing documents, form 990 and any other public documents available to the public by written request to the organization.”

Filing and Contact Details

Filer

Filer Name
Lakewood Community Development Corp
EIN
56-1744587
Address
PO Box 33844, Charlotte, NC 28233-3844

Signing Officer

Name
Kathryn Long
Title
Treasurer
Phone
7044973747
Signed
2016-02-05
Discuss with paid preparer
No

Organization Details

Principal Officer
Harry Johnson
Formed
1991
Legal Domicile
Nc
Voting Board Members
9
Independent Board Members
9
Employees
1
Volunteers
30

Preparer

Firm
Abby H Champion CPA PC
Address
PO Box 1918, Huntersville, NC 28070
Preparer
Abby H Champion CPA
Phone
7049475580
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0Land owned by the organization to increase the population within the Lakewood Community was under contract and the buyer cancelled the contract. Therefore the organization retained the deposit on the land in the amount of $500.The City of Charlotte forgave a note payable in the amount of $335,769 which the proceeds of were used to purchase affordable housing. Upon the time requirement and restrictions for use established by the City at the time of inception of the loan had been completed, the City forgave the note.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0All officers and directors receive a copy of form 990 to review before the 990 is filed and it is approved at the following board meeting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Each officer, director, or key employee must sign an annual acknowledgement form that they do not have a conflict of interst with any vendor, supplier, or other party doing business with Lakewood Community Development Corporation.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The organization makes their governing documents, form 990 and any other public documents available to the public by written request to the organization.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Governing documents etc available to public Part VI line 19
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Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$347,680
Liabilities
$41,665
Net assets
$306,015
Revenue
$384,241
Expenses
$81,773
Net income
$302,468
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
Peer Organizations

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