Civic Intelligence

Martin Luther King Economic Development Corporation

990 • Fiscal year 2017 • EIN 59-2042422

Jul 01, 2016 to Jun 30, 2017 • Filed on Aug 24, 2017

Organization ProfileN/A
6116 NW 7th AvenueMiami, FL 33127

(305) 757-7652

Siviq Scores

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

Liabilities / Assets

69th percentile

0.28x

Higher debt load relative to assets than 69% of similar nonprofits.

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

Liabilities / Revenue

82nd percentile

0.72x

Higher debt load relative to revenue than 82% of similar nonprofits.

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

Net Margin

25th percentile

-6.4%

Higher net margin than 25% 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

24th percentile

-3.5%

Faster asset growth than 24% of similar nonprofits.

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

Revenue Growth

5th percentile

-46%

Faster revenue growth than 5% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets69th percentile

Assets

Down

$1,077,273

Down $38,498 (-3.5%) from 2016

Net Assets

Down

$775,444

Down $26,596 (-3.3%) from 2016

Liabilities

Down

$301,829

Down $11,902 (-3.8%) from 2016

Revenue And Expenses
Liabilities / Revenue82nd percentileNet Margin25th percentile

Revenue

Down

$417,553

Down $354,811 (-46%) from 2016

Expenses

Up

$444,107

Up $169,621 (+62%) from 2016

Net Income

Down

-$26,554

Down $524,432 (-105%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth24th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MAssets 2011: $644,685Liabilities 2011: $945,268Net Assets 2011: -$300,5832011Assets 2012: $624,531Liabilities 2012: $331,569Net Assets 2012: $292,9622012Assets 2013: $588,965Liabilities 2013: $331,650Net Assets 2013: $257,3152013Assets 2014: $583,812Liabilities 2014: $330,650Net Assets 2014: $253,1622014Assets 2015: $627,757Liabilities 2015: $323,553Net Assets 2015: $304,2042015Assets 2016: $1,115,771Liabilities 2016: $313,731Net Assets 2016: $802,0402016Assets 2017: $1,077,273Liabilities 2017: $301,829Net Assets 2017: $775,4442017Assets 2018: $906,520Liabilities 2018: $292,868Net Assets 2018: $613,6522018Assets 2019: $954,778Liabilities 2019: $284,294Net Assets 2019: $670,4842019Assets 2020: $904,184Liabilities 2020: $234,123Net Assets 2020: $670,0612020Assets 2021: $1,071,220Liabilities 2021: $188,304Net Assets 2021: $882,9162021Assets 2022: $859,039Liabilities 2022: $172,706Net Assets 2022: $686,3332022Assets 2023: $1,811,267Liabilities 2023: $156,257Net Assets 2023: $1,655,0102023Assets 2024: $1,552,270Liabilities 2024: $140,307Net Assets 2024: $1,411,9632024Assets 2025: $2,176,823Liabilities 2025: $127,133Net Assets 2025: $2,049,6902025

Highlighted filing

2017

Assets$1,077,273
Liabilities$301,829
Net Assets$775,444
Open 2017 Filing

Operations Trend

Revenue Growth5th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: -$18,710Expenses 2011: $50,000Net Income 2011: -$68,7102011Expenses 2012: $125,2462012Revenue 2013: $8,838Expenses 2013: $49,194Net Income 2013: -$40,3562013Revenue 2014: $62,809Expenses 2014: $66,962Net Income 2014: -$4,1532014Revenue 2015: $101,164Expenses 2015: $53,040Net Income 2015: $48,1242015Revenue 2016: $772,364Expenses 2016: $274,486Net Income 2016: $497,8782016Revenue 2017: $417,553Expenses 2017: $444,107Net Income 2017: -$26,5542017Revenue 2018: $780,990Expenses 2018: $942,581Net Income 2018: -$161,5912018Revenue 2019: $588,800Expenses 2019: $531,768Net Income 2019: $57,0322019Revenue 2020: $809,679Expenses 2020: $809,902Net Income 2020: -$2232020Revenue 2021: $1,359,984Expenses 2021: $1,179,220Net Income 2021: $180,7642021Revenue 2022: $582,597Expenses 2022: $778,979Net Income 2022: -$196,3822022Revenue 2023: $1,908,899Expenses 2023: $939,304Net Income 2023: $969,5952023Revenue 2024: $1,593,505Expenses 2024: $1,836,552Net Income 2024: -$243,0472024Revenue 2025: $2,095,675Expenses 2025: $1,457,925Net Income 2025: $637,7502025

Highlighted filing

2017

Revenue$417,553
Expenses$444,107
Net Income-$26,554
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Aug 24, 2017
Return Version
2016v3.0
Gross Receipts
$629,798
Mission and Program Overview

Mission

Advocate on behalf of the community for the revitalization of commercial and residential areas within the target area. The organization also operates mlkedc business center, which includes maintenance, repairs, and counseling.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$802,040$775,444▼ $26,596
Land, Buildings, and Equipment, Net$677,401$654,557▼ $22,844
Cash and Non-Interest-Bearing Accounts$408,999$402,999▼ $6,000
Intangible Assets$24,326$19,618▼ $4,708
Accounts Receivable$5,045$99▼ $4,946
Total Assets$1,115,771$1,077,273▼ $38,498
Liabilities
Other Liabilities$312,686$300,579▼ $12,107
Accounts Payable and Accrued Expenses$1,045$1,250▲ $205
Total Liabilities$313,731$301,829▼ $11,902
Net Assets / Fund Balance
Total Net Assets Fund Balance$802,040$775,444▼ $26,596
Total Liabilities and Net Assets / Fund Balance$1,115,771$1,077,273▼ $38,498

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$311,892$820,473$1,132,365
Land$340,605-$340,605
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Billy HardemanChairperson
Helen StewartVice Chairpe
Clevell JenningsBoard Member
Dufirstson NereeBoard Member
Kevin MarshallBoard Member
Amina McneilSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$401,200
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$16,353
All Other Contributions
$65,780
Change in Net Assets
$-26,554
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$415,982
Salaries, Compensation, and Employee Benefits$28,125
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$52,684--$52,684
Other Expenses$44,879--$44,879
Other Salaries and Wages$28,125--$28,125
Conferences and Meetings$4,232$14,060-$18,292
Office Expenses$1,707$4,437-$6,144
Fees for Services Other$2,000--$2,000
Total Functional Expenses$425,610$18,497$0$444,107
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
Miami-dade Cdbg Loan$258,647
Grant Repayment$39,990
Deposits$1,942
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, Page 6, Part VI, Line 11B

“All board members review tax returns and financials prior to issuance.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Martin Luther King Economic Dev
EIN
59-2042422
Phone
3057577652
Address
6116 NW 7TH AVENUE, MIAMI, FL 33127

Signing Officer

Name
Billy Hardeman
Title
Chairperson
Phone
3057577652
Signed
2017-08-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Billy Hardeman
Voting Board Members
7
Independent Board Members
7
Employees
3

Preparer

Firm
John S Bush CPA Pa
Address
8181 W BROWARD BOULEVARD SUITE 35, PLANTATION, FL 33324-2033
Preparer
John S Bush CPA
Phone
9544744100
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Advocate on behalf of the community for the revitalization of commercial and residential areas within the target area. The organization also operates mlkedc business center, which includes maintenance, repairs, and counseling.”

Form 990, Part IX, Line 24E

“Mlk murals 26,507 0 0 auto insurance 21,508 0 0 charities 4,669 0 0 total 52,684 0 0”

Form 990, Part XI, Line 9

“Book / tax depreciation difference -42”

Raw XML Appendix324 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ADVOCATE ON BEHALF OF THE COMMUNITY FOR THE REVITALIZATION OF COMMERCIAL AND RESIDENTIAL AREAS WITHIN THE TARGET AREA. THE ORGANIZATION ALSO OPERATES MLKEDC BUSINESS CENTER, WHICH INCLUDES MAINTENANCE, REPAIRS, AND COUNSELING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL BOARD MEMBERS REVIEW TAX RETURNS AND FINANCIALS PRIOR TO ISSUANCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3MLK MURALS 26,507 0 0 AUTO INSURANCE 21,508 0 0 CHARITIES 4,669 0 0 TOTAL 52,684 0 0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4BOOK / TAX DEPRECIATION DIFFERENCE -42
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 24E
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9
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IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01115771
IRS990/TotalAssetsEOYAmt01077273
IRS990/TotalAssetsGrp/BOYAmt01115771
IRS990/TotalAssetsGrp/EOYAmt01077273
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0401200
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt018497
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0425610
IRS990/TotalFunctionalExpensesGrp/TotalAmt0444107
IRS990/TotalGrossUBIAmt016353
IRS990/TotalLiabilitiesBOYAmt0313731
IRS990/TotalLiabilitiesEOYAmt0301829
IRS990/TotalLiabilitiesGrp/BOYAmt0313731
IRS990/TotalLiabilitiesGrp/EOYAmt0301829
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0802040
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0775444
IRS990/TotalProgramServiceExpensesAmt0425610
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0417553
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt016353
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01115771
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01077273
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0true
IRS990/USAddress/AddressLine1Txt0655 NW 48 STREET
IRS990/USAddress/CityNm0MIAMI
IRS990/USAddress/StateAbbreviationCd0FL
IRS990/USAddress/ZIPCd033127
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0BILLY HARDEMAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRPERSON
ReturnHeader/BusinessOfficerGrp/PhoneNum03057577652
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-08-24
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MARTIN LUTHER KING ECONOMIC DEV
ReturnHeader/Filer/BusinessNameControlTxt0MART
ReturnHeader/Filer/EIN0592042422
ReturnHeader/Filer/PhoneNum03057577652
ReturnHeader/Filer/USAddress/AddressLine1Txt06116 NW 7TH AVENUE
ReturnHeader/Filer/USAddress/CityNm0MIAMI
ReturnHeader/Filer/USAddress/StateAbbreviationCd0FL
ReturnHeader/Filer/USAddress/ZIPCd033127
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0E9AD49F8CA5746585D07EB16449B22DFDCC6A49E
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0DD6E27E56464CA1710DFC4C646E3C478BBC17CBB
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0592212206
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0JOHN S BUSH CPA PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt08181 W BROWARD BOULEVARD SUITE 35
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0PLANTATION
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0333242033
ReturnHeader/PreparerPersonGrp/PhoneNum09544744100
ReturnHeader/PreparerPersonGrp/PreparationDt02017-08-28
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOHN S BUSH CPA
ReturnHeader/ReturnTs02017-10-27T17:11:34-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-07-01
ReturnHeader/TaxPeriodEndDt02017-06-30
ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$1,077,273
Liabilities
$301,829
Net assets
$775,444
Revenue
$417,553
Expenses
$444,107
Net income
-$26,554
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.18$0.13$2.05$2.10$1.46$0.64
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.55$0.14$1.41$1.59$1.84$0.24
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.81$0.16$1.66$1.91$0.94$0.97
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.86$0.17$0.69$0.58$0.78$0.20
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.07$0.19$0.88$1.36$1.18$0.18
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.90$0.23$0.67$0.81$0.81$0.00
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.95$0.28$0.67$0.59$0.53$0.06
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.91$0.29$0.61$0.78$0.94$0.16
2017Detailed filing. Detailed filing data is available for this year.$1.08$0.30$0.78$0.42$0.44$0.03
2016Detailed filing. Detailed filing data is available for this year.$1.12$0.31$0.80$0.77$0.27$0.50
2015Detailed filing. Detailed filing data is available for this year.$0.63$0.32$0.30$0.10$0.05$0.05
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.58$0.33$0.25$0.06$0.07$0.00
2013Summary only. Only limited summary data is available for this year.$0.59$0.33$0.26$0.01$0.05$0.04
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.62$0.33$0.29$0.13
2011Summary only. Only limited summary data is available for this year.$0.64$0.95$0.30$0.02$0.05$0.07