Civic Intelligence

Martin Luther King Economic Development Corporation

990 • Fiscal year 2021 • EIN 59-2042422

Jul 01, 2020 to Jun 30, 2021 • Filed on Oct 25, 2021

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

65th percentile

0.18x

Higher debt load relative to assets than 65% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

58th percentile

0.14x

Higher debt load relative to revenue than 58% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

51st percentile

13%

Higher net margin than 51% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

66th percentile

18%

Faster asset growth than 66% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

82nd percentile

68%

Faster revenue growth than 82% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets65th percentile

Assets

Up

$1,071,220

Up $167,036 (+18%) from 2020

Net Assets

Up

$882,916

Up $212,855 (+32%) from 2020

Liabilities

Down

$188,304

Down $45,819 (-20%) from 2020

Revenue And Expenses
Liabilities / Revenue58th percentileNet Margin51st percentile

Revenue

Up

$1,359,984

Up $550,305 (+68%) from 2020

Expenses

Up

$1,179,220

Up $369,318 (+46%) from 2020

Net Income

Up

$180,764

Up $180,987 (+81160%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth66th 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

2021

Assets$1,071,220
Liabilities$188,304
Net Assets$882,916
Open 2021 Filing

Operations Trend

Revenue Growth82nd 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

2021

Revenue$1,359,984
Expenses$1,179,220
Net Income$180,764
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Oct 25, 2021
Return Version
2020v4.0
Gross Receipts
$1,359,984
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$670,061$882,916▲ $212,855
Land, Buildings, and Equipment, Net$687,089$694,671▲ $7,582
Cash and Non-Interest-Bearing Accounts$211,602$375,764▲ $164,162
Intangible Assets$5,493$785▼ $4,708
Total Assets$904,184$1,071,220▲ $167,036
Liabilities
Other Liabilities$234,123$188,304▼ $45,819
Total Liabilities$234,123$188,304▼ $45,819
Net Assets / Fund Balance
Total Net Assets Fund Balance$670,061$882,916▲ $212,855
Total Liabilities and Net Assets / Fund Balance$904,184$1,071,220▲ $167,036

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$352,130$892,482$1,244,612
Land$340,605-$340,605
Equipment$1,936$86,560$88,496
Compensation and Service Providers
Top Officer Pay39th 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
$961,165
Program Service Revenue
$398,819
Investment Income
$0
Other Revenue
$0
All Other Contributions
$17,833
Change in Net Assets
$180,764
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,104,220
Salaries, Compensation, and Employee Benefits$75,000
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$107,144--$107,144
Other Expenses$97,536--$97,536
Other Salaries and Wages$75,000--$75,000
Occupancy$49,434--$49,434
Conferences and Meetings$30,242$10,707-$40,949
Depreciation Depletion$24,601--$24,601
Office Expenses-$15,652-$15,652
Interest$5,711--$5,711
Total Functional Expenses$1,152,861$26,359$0$1,179,220
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$183,025
Payroll Taxes$3,337
Deposits$1,942
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with 35% controlled entity
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
2021-10-25
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, Page 2, Part III, Line 4D

“CBO, RENTALS”

Form 990, Part XI, Line 9

“Book / tax depreciation difference -200 ppp loan 32,291 total 32,091”

Raw XML Appendix343 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/ExplanationTxt1CBO, RENTALS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL BOARD MEMBERS REVIEW TAX RETURNS AND FINANCIALS PRIOR TO ISSUANCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4BOOK / TAX DEPRECIATION DIFFERENCE -200 PPP LOAN 32,291 TOTAL 32,091
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0904184
IRS990/TotalAssetsEOYAmt01071220
IRS990/TotalAssetsGrp/BOYAmt0904184
IRS990/TotalAssetsGrp/EOYAmt01071220
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0961165
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt026359
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01152861
IRS990/TotalFunctionalExpensesGrp/TotalAmt01179220
IRS990/TotalGrossUBIAmt0398819
IRS990/TotalLiabilitiesBOYAmt0234123
IRS990/TotalLiabilitiesEOYAmt0188304
IRS990/TotalLiabilitiesGrp/BOYAmt0234123
IRS990/TotalLiabilitiesGrp/EOYAmt0188304
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0670061
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0882916
IRS990/TotalOtherProgSrvcExpenseAmt0331278
IRS990/TotalProgramServiceExpensesAmt01152861
IRS990/TotalProgramServiceRevenueAmt0398819
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01359984
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt0398819
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0904184
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01071220
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/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0BILLY HARDEMAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRPERSON
ReturnHeader/BusinessOfficerGrp/PhoneNum03057577652
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-10-25
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/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/PreparationDt02021-10-25
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOHN S BUSH CPA
ReturnHeader/ReturnTs02021-11-11T15:50:12-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0BILLY
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0HARDEMAN
ReturnHeader/TaxPeriodBeginDt02020-07-01
ReturnHeader/TaxPeriodEndDt02021-06-30
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,071,220
Liabilities
$188,304
Net assets
$882,916
Revenue
$1,359,984
Expenses
$1,179,220
Net income
$180,764
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
2021Detailed filing. Detailed filing data is available for this year.$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
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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