Civic Intelligence

Lakewood Community Development

990 • Fiscal year 2016 • EIN 56-1744587

Jan 01, 2016 to Dec 31, 2016 • Filed on May 08, 2017

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

73rd percentile

0.12x

Higher debt load relative to assets than 73% of similar nonprofits.

2016 filings • NTEE S • <$500k nonprofits • Source year 2016

Liabilities / Revenue

90th percentile

0.48x

Higher debt load relative to revenue than 90% of similar nonprofits.

2016 filings • NTEE S • <$500k nonprofits • Source year 2016

Net Margin

26th percentile

-9.6%

Higher net margin than 26% of similar nonprofits.

2016 filings • NTEE S • <$500k nonprofits • Source year 2016

Top Officer Pay

84th percentile

$34,960

Higher top officer pay than 84% of similar nonprofits.

Top officer pay equals 42.5% of source-year revenue.

2016 filings • NTEE S • <$500k nonprofits • Source year 2016

Asset Growth

40th percentile

-2.8%

Faster asset growth than 40% of similar nonprofits.

2016 filings • NTEE S • <$500k nonprofits • Annualized from 2015 to 2016

Revenue Growth

4th percentile

-79%

Faster revenue growth than 4% of similar nonprofits.

2016 filings • NTEE S • <$500k nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets73rd percentile

Assets

Down

$337,847

Down $9,833 (-2.8%) from 2015

Net Assets

Down

$298,115

Down $7,900 (-2.6%) from 2015

Liabilities

Down

$39,732

Down $1,933 (-4.6%) from 2015

Revenue And Expenses
Liabilities / Revenue90th percentileNet Margin26th percentile

Revenue

Down

$82,300

Down $301,941 (-79%) from 2015

Expenses

Up

$90,200

Up $8,427 (+10%) from 2015

Net Income

Down

-$7,900

Down $310,368 (-103%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth40th 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

2016

Assets$337,847
Liabilities$39,732
Net Assets$298,115
Open 2016 Filing

Operations Trend

Revenue Growth4th 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

2016

Revenue$82,300
Expenses$90,200
Net Income-$7,900
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
May 8, 2017
Return Version
2016v3.0
Gross Receipts
$262,066
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
Cash and Non-Interest-Bearing Accounts$41,311$225,012▲ $183,701
Land, Buildings, and Equipment, Net$305,364$112,783▼ $192,581
Accounts Receivable$953--
Total Assets$347,680$337,847▼ $9,833
Other Assets Total$52$52→ $0
Liabilities
Unsecured Notes Loans Payable$35,000$35,000→ $0
Other Liabilities$3,542$3,932▲ $390
Accounts Payable and Accrued Expenses$3,123$800▼ $2,323
Total Liabilities$41,665$39,732▼ $1,933
Net Assets / Fund Balance
Unrestricted Net Assets$292,407$298,040▲ $5,633
Temporarily Rstr Net Assets$13,608$75▼ $13,533
Total Net Assets Fund Balance$306,015$298,115▼ $7,900
Total Liabilities and Net Assets / Fund Balance$347,680$337,847▼ $9,833

Asset Categories

AssetBook ValueDepreciationBasis
Land$94,725-$94,725
Buildings$13,059$9,169$22,228
Equipment$4,999$2,071$7,070
Compensation and Service Providers
Top Officer Pay84th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Scott TerryExecutive DirectorFT$34,960$34,960

Board Members and Trustees

NameTitle
Harry JohnsonPresident
Christian OrgunrindeVice President
Delores MillerVice President
Catherine EvansDirector
Norman Mitchell SrDirector
Stephen CornwellDirector
Vivienne JohnsonDirector
William OsceSecretary
Kathryn LongTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$5,938
Program Service Revenue
$0
Investment Income
$47,613
Other Revenue
$28,749
All Other Contributions
$5,938
Change in Net Assets
$-7,900
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$51,281
Salaries, Compensation, and Employee Benefits$38,919
Total Fundraising Expense$1,819
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$29,663$3,960$1,337$34,960
Occupancy$24,825--$24,825
Depreciation Depletion$13,126--$13,126
Fees for Services Accounting$5,962$670$218$6,850
Payroll Taxes$3,360$448$151$3,959
Other Expenses$2,593$21$7$2,593
Insurance$2,217$249$81$2,547
Information Technology$323$36$12$371
Office Expenses$149$17$5$171
Advertising$114--$114
Interest$8$1-$9
Total Functional Expenses$82,744$5,637$1,819$90,200
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
Payroll Liabilities$3,932
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
7043338113
Signed
2017-05-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Harry Johnson
Formed
1991
Legal Domicile
Nc
Voting Board Members
9
Independent Board Members
9
Employees
1
Volunteers
4

Preparer

Firm
Abby H Champion CPA PC
Address
PO Box 1918, Huntersville, NC 28070-1918
Preparer
Abby H Champion CPA
Phone
7049475580
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt02015 Land 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 $500.2015 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.2016 Apartments and Land owned by the organization used to provide affordable housing to Lakewood Community residents was sold during the year. This resulted in a sale of capital assets which resulted in a gain of $47,557.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0Other income Part II line 10 or Part III line 12
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt020110
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt038289
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0-79520
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt02347
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt057
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt030622
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt030811
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0150496
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IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/InvestmentIncomePYPct00.00000
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IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt0-215
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt08264
IRS990ScheduleA/OtherIncome509Grp/TotalAmt0343713
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.30770
IRS990ScheduleA/PublicSupportPY509Pct00.46750
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IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt034687
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IRS990ScheduleA/Total509Grp/TotalAmt0152843
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0-40410
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0496688
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
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IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt013059
IRS990ScheduleD/BuildingsGrp/DepreciationAmt09169
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt022228
IRS990ScheduleD/EquipmentGrp/BookValueAmt04999
IRS990ScheduleD/EquipmentGrp/DepreciationAmt02071
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt07070
IRS990ScheduleD/LandGrp/BookValueAmt094725
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt094725
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt03932
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Payroll Liabilities
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0112783
IRS990ScheduleD/TotalLiabilityAmt03932
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
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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IRS990/StatesWhereCopyOfReturnIsFldCd0NC
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
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IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt075
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0347680
IRS990/TotalAssetsEOYAmt0337847
IRS990/TotalAssetsGrp/BOYAmt0347680
IRS990/TotalAssetsGrp/EOYAmt0337847
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt05637
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt082744
IRS990/TotalFunctionalExpensesGrp/TotalAmt090200
IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesGrp/EOYAmt039732
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0298115
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt082744
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IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt04
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0337847

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$337,847
Liabilities
$39,732
Net assets
$298,115
Revenue
$82,300
Expenses
$90,200
Net income
-$7,900
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