Civic Intelligence

Miami Beach Community Development Corporation Inc.

990 • Fiscal year 2020 • EIN 59-2110264

Oct 01, 2019 to Sep 30, 2020 • Filed on Aug 16, 2021

Organization ProfileMIAMIBEACHCDC.COM

View Organization Page

1688 Meridian Ave Suite 600 700Miami Beach, FL 33139

(305) 538-0090

Siviq Scores

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

Liabilities / Assets

55th percentile

0.32x

Higher debt load relative to assets than 55% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Liabilities / Revenue

92nd percentile

4.35x

Higher debt load relative to revenue than 92% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Net Margin

7th percentile

-45%

Higher net margin than 7% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Top Officer Pay

12th percentile

$97,896

Higher top officer pay than 12% of similar nonprofits.

Top officer pay equals 4.6% of source-year revenue.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2020

Asset Growth

22nd percentile

-0.9%

Faster asset growth than 22% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2019 to 2020

Revenue Growth

62nd percentile

7.9%

Faster revenue growth than 62% of similar nonprofits.

2020 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets55th percentile

Assets

Down

$28,833,320

Down $252,253 (-0.9%) from 2019

Net Assets

Down

$19,532,511

Down $2,214,346 (-10%) from 2019

Liabilities

Up

$9,300,809

Up $1,962,093 (+27%) from 2019

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin7th percentile

Revenue

Up

$2,136,856

Up $156,715 (+7.9%) from 2019

Expenses

Down

$3,101,075

Down $237,718 (-7.1%) from 2019

Net Income

Up

-$964,219

Up $394,433 (+29%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth22nd percentile

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

$60M$40M$20M$0Assets 2011: $53,726,401Liabilities 2011: $50,839,980Net Assets 2011: $2,886,4212011Assets 2012: $50,621,524Liabilities 2012: $15,329,841Net Assets 2012: $35,291,6832012Assets 2013: $58,772,403Liabilities 2013: $15,210,159Net Assets 2013: $43,562,2442013Assets 2015: $34,405,879Liabilities 2015: $9,475,580Net Assets 2015: $24,930,2992015Assets 2016: $33,206,565Liabilities 2016: $8,632,998Net Assets 2016: $24,573,5672016Assets 2017: $31,905,478Liabilities 2017: $8,476,481Net Assets 2017: $23,428,9972017Assets 2018: $30,894,725Liabilities 2018: $11,626,282Net Assets 2018: $19,268,4432018Assets 2019: $29,085,573Liabilities 2019: $7,338,716Net Assets 2019: $21,746,8572019Assets 2020: $28,833,320Liabilities 2020: $9,300,809Net Assets 2020: $19,532,5112020Assets 2021: $28,003,490Liabilities 2021: $9,300,408Net Assets 2021: $18,703,0822021Assets 2022: $27,362,430Liabilities 2022: $9,071,992Net Assets 2022: $18,290,4382022Assets 2023: $26,537,809Liabilities 2023: $12,741,250Net Assets 2023: $13,796,5592023Assets 2024: $23,784,681Liabilities 2024: $13,129,363Net Assets 2024: $10,655,3182024

Highlighted filing

2020

Assets$28,833,320
Liabilities$9,300,809
Net Assets$19,532,511
Open 2020 Filing

Operations Trend

Revenue Growth62nd percentile

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2011: $3,974,112Expenses 2011: $2,990,380Net Income 2011: $983,7322011Revenue 2012: $3,012,425Expenses 2012: $2,861,999Net Income 2012: $150,4262012Revenue 2013: $3,258,233Expenses 2013: $4,471,939Net Income 2013: -$1,213,7062013Revenue 2015: $2,832,955Expenses 2015: $3,799,523Net Income 2015: -$966,5682015Revenue 2016: $2,567,377Expenses 2016: $3,502,576Net Income 2016: -$935,1992016Revenue 2017: $2,172,263Expenses 2017: $3,365,982Net Income 2017: -$1,193,7192017Revenue 2018: $2,548,537Expenses 2018: $3,357,837Net Income 2018: -$809,3002018Revenue 2019: $1,980,141Expenses 2019: $3,338,793Net Income 2019: -$1,358,6522019Revenue 2020: $2,136,856Expenses 2020: $3,101,075Net Income 2020: -$964,2192020Revenue 2021: $2,129,125Expenses 2021: $2,938,058Net Income 2021: -$808,9332021Revenue 2022: $2,161,577Expenses 2022: $2,557,776Net Income 2022: -$396,1992022Revenue 2023: $2,063,632Expenses 2023: $2,844,698Net Income 2023: -$781,0662023Revenue 2024: $1,877,244Expenses 2024: $3,326,621Net Income 2024: -$1,449,3772024

Highlighted filing

2020

Revenue$2,136,856
Expenses$3,101,075
Net Income-$964,219
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2019 to Sep 30, 2020
Signed
Aug 16, 2021
Return Version
2019v5.2
Gross Receipts
$2,136,856
Mission and Program Overview

Mission

To provide management services for non-profit organizations that provide housing facilities to low income and disabled persons.

Mbcdc is a neighborhood community development agency committed to the preservation of the miami beach architectural district and economic revitalization of south beach.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$27,615,957$26,409,485▼ $1,206,472
Cash and Non-Interest-Bearing Accounts$760,280$753,833▼ $6,447
Accounts Receivable$370,690$512,000▲ $141,310
Prepaid Expenses and Deferred Charges$197,344$323,851▲ $126,507
Intangible Assets$88,321$88,321→ $0
Pledges and Grants Receivable$52,981$0▼ $52,981
Total Assets$29,085,573$28,833,320▼ $252,253
Other Assets Total$0$745,830▲ $745,830
Liabilities
Other Liabilities$6,978,469$8,747,785▲ $1,769,316
Accounts Payable and Accrued Expenses$346,659$530,208▲ $183,549
Deferred Revenue$13,588$22,816▲ $9,228
Total Liabilities$7,338,716$9,300,809▲ $1,962,093
Net Assets / Fund Balance
Net Assets With Donor Restrictions$23,408,890$21,529,302▼ $1,879,588
Net Assets Without Donor Restrictions$-1,662,033$-1,996,791▼ $334,758
Total Net Assets Fund Balance$21,746,857$19,532,511▼ $2,214,346
Total Liabilities and Net Assets / Fund Balance$29,085,573$28,833,320▼ $252,253

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$23,809,824$12,153,928$35,963,752
Land$2,595,274-$2,595,274
Equipment$4,387$77,947$82,334
Leasehold Improvements$0$13,347$13,347
Compensation and Service Providers
Top Officer Pay12th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Ahmed MartinExecutive DirectorFT$97,896$97,896
Cristian Arango IiProgram ManagerFT$40,768$40,768
Juanita FlanklinSecretaryPT$3,050$3,050

Board Members and Trustees

NameTitle
Monica Matteo-salinasChairman
Jeff FeldmanVice Chair
Chris ShearDirector
Jeremy ShirDirector
Michael HammonDirector
Raymond PereiraDirector
Ryan SwickDirector
Will WiseheartDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$721,158
Program Service Revenue
$1,013,125
Investment Income
$1,878
Other Revenue
$400,695
All Other Contributions
$572
Change in Net Assets
$-964,219
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,944,288
Salaries, Compensation, and Employee Benefits$156,787
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$1,206,397--$1,206,397
Insurance$294,494--$294,494
Fees for Services Accounting$180,619$20,069-$200,688
Fees for Services Other$156,590$17,400-$173,990
Interest$167,517--$167,517
Other Salaries and Wages$148,368--$148,368
Fees for Services Management$130,680$14,520-$145,200
Office Expenses$123,490$13,721-$137,211
All Other Expenses$69,441$6,684-$76,125
Other Expenses$30,642$12,703-$30,642
Occupancy$21,789$2,420-$24,209
Payroll Taxes$5,700--$5,700
Travel$3,613--$3,613
Fees for Services Legal$3,248$360-$3,608
Pension Plan Contributions$2,719--$2,719
Advertising$2,601--$2,601
Total Functional Expenses$3,013,198$87,877$0$3,101,075
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
Long Term Debt$7,752,352
Due to Affiliates$832,260
Accrued Expenses$85,458
Security Deposit$77,715
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 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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“A copy was received from the entities independent accountants and all board members reviewed at a meeting before sign and mail it.”

Form 990, Part VI, Section B, Line 12C

“The officers, directors and key employees are required annually in a meeting to disclose interests that could give rise to conflict.”

Form 990, Part VI, Section C, Line 19

“By written request the required information will be provided”

Filing and Contact Details

Filer

Filer Name
Miami Beach Community Development
EIN
59-2110264
Phone
3055380090
Address
1688 MERIDIAN AVE SUITE 600 700, MIAMI BEACH, FL 33139

Signing Officer

Name
Ahmed Martin
Title
Executive Director
Phone
3055380090
Signed
2021-08-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ahmed Martin
Formed
1981
Legal Domicile
Fl
Voting Board Members
11
Independent Board Members
8
Employees
0
Volunteers
8

Preparer

Firm
Glsc & Company Pllc
Address
6303 BLUE LAGOON DRIVE SUITE 200, MIAMI, FL 33126
Preparer
Eduard a Baltar
Phone
3053730123
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“Miami beach community development corp. Is organized as not-for-profit organization and is exempt from income taxes under section 501(c)(3) of the internal revenue code. Accordingly, no provision for income taxes is required. The organization's information returns filed with the internal revenue service have not been examined in the past. The organization is not aware of any uncertainties that could jeopardize its not-for-profit status. Therefore, no provision or liability for income taxes is deemed necessary. The organization's tax returns for the years 2016, 2017 and 2018 remain subject to examination by internal revenue service. In the unlikely event an uncertain tax position existed in which the organization could incur corporate income taxes, management would evaluate whether there is a probability that the uncertain tax position taken would be sustained upon examination by a taxing authority in accordance with fasc 740-10, accounting for uncertainty in income taxes. Based on the implementation of fas asc 740-10, accounting for uncertainty in income taxes, the organization has determined that no amounts are required to be accrued for taxes or related penalties and interest for any tax positions taken through september 30, 2020.”

Raw XML AppendixShowing 400 of 667 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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IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt013721
IRS990/OfficeExpensesGrp/ProgramServicesAmt0123490
IRS990/OfficeExpensesGrp/TotalAmt0137211
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt00
IRS990/OtherAssetsTotalGrp/EOYAmt0745830
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0UTILITIES
IRS990/OtherExpensesGrp/Desc1CONTRACT LABOR
IRS990/OtherExpensesGrp/Desc2REPAIRS AND MAINTENANCE
IRS990/OtherExpensesGrp/Desc3BAD DEBT
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt012703
IRS990/OtherExpensesGrp/ProgramServicesAmt0281890
IRS990/OtherExpensesGrp/ProgramServicesAmt1114330
IRS990/OtherExpensesGrp/ProgramServicesAmt269070
IRS990/OtherExpensesGrp/ProgramServicesAmt330642
IRS990/OtherExpensesGrp/TotalAmt0281890
IRS990/OtherExpensesGrp/TotalAmt1127033
IRS990/OtherExpensesGrp/TotalAmt269070
IRS990/OtherExpensesGrp/TotalAmt330642
IRS990/OtherLiabilitiesGrp/BOYAmt06978469
IRS990/OtherLiabilitiesGrp/EOYAmt08747785
IRS990/OtherRevenueMiscGrp/BusinessCd0999999
IRS990/OtherRevenueMiscGrp/Desc0MISCELLANEOUS INCOME
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt0400695
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0400695
IRS990/OtherRevenueTotalAmt0400695
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0148368
IRS990/OtherSalariesAndWagesGrp/TotalAmt0148368
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/ProgramServicesAmt05700
IRS990/PayrollTaxesGrp/TotalAmt05700
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt02719
IRS990/PensionPlanContributionsGrp/TotalAmt02719
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt052981
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0197344
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0323851
IRS990/PrincipalOfficerNm0AHMED MARTIN
IRS990/PriorPeriodAdjustmentsAmt0-1250127
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531110
IRS990/ProgramServiceRevenueGrp/BusinessCd1541610
IRS990/ProgramServiceRevenueGrp/BusinessCd2531110
IRS990/ProgramServiceRevenueGrp/BusinessCd3812300
IRS990/ProgramServiceRevenueGrp/Desc0RENTAL INCOME
IRS990/ProgramServiceRevenueGrp/Desc1MANAGEMENT FEE INCOME
IRS990/ProgramServiceRevenueGrp/Desc2OTHER RENTAL INCOME
IRS990/ProgramServiceRevenueGrp/Desc3LAUNDRY AND VENDING IN
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0956826
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt144078
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt28616
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt33605
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0956826
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt144078
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt28616
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt33605
IRS990/ProgSrvcAccomActy2Grp/Desc0TO PROVIDE HOUSING FACILITIES TO LOW-INCOME AND DISABLED PERSONS.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt03013198
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt01369742
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0640209
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0822
IRS990/PYOtherExpensesAmt03077249
IRS990/PYOtherRevenueAmt0175102
IRS990/PYProgramServiceRevenueAmt01164008
IRS990/PYRevenuesLessExpensesAmt0-1358652
IRS990/PYSalariesCompEmpBnftPaidAmt0261544
IRS990/PYTotalExpensesAmt03338793
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01980141
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0-964219
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt044078
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0721158
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0640209
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0926507
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0645395
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0710413
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt03643682
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt01878
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt0822
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt0257
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt0193
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt0185
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt03335
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt01009520
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt01066452
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt01414384
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt01401912
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt01371465
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt06263733
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt01878
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0822
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0257
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0193
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0185
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt03335
IRS990ScheduleA/InvestmentIncomeCYPct00.00030
IRS990ScheduleA/InvestmentIncomePYPct00.00010
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt0404300
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus1YearAmt0272658
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt0109684
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt040640
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt0485312
IRS990ScheduleA/OtherIncome509Grp/TotalAmt01312594
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.88280
IRS990ScheduleA/PublicSupportPY509Pct00.89550
IRS990ScheduleA/PublicSupportTotal509Amt09907415
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt01730678
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt01706661
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt02340891
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt02047307
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt02081878
IRS990ScheduleA/Total509Grp/TotalAmt09907415
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt02136856
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt01980141
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt02450832
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt02088140
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt02567375
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt011223344
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt023809824
IRS990ScheduleD/BuildingsGrp/DepreciationAmt012153928
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt035963752
IRS990ScheduleD/EquipmentGrp/BookValueAmt04387
IRS990ScheduleD/EquipmentGrp/DepreciationAmt077947
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt082334
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt02595274
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt02595274
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt013347
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt013347
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt07752352
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1832260
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt277715
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt385458
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0LONG TERM DEBT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DUE TO AFFILIATES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2SECURITY DEPOSIT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3ACCRUED EXPENSES
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0MIAMI BEACH COMMUNITY DEVELOPMENT CORP. IS ORGANIZED AS NOT-FOR-PROFIT ORGANIZATION AND IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS REQUIRED. THE ORGANIZATION'S INFORMATION RETURNS FILED WITH THE INTERNAL REVENUE SERVICE HAVE NOT BEEN EXAMINED IN THE PAST. THE ORGANIZATION IS NOT AWARE OF ANY UNCERTAINTIES THAT COULD JEOPARDIZE ITS NOT-FOR-PROFIT STATUS. THEREFORE, NO PROVISION OR LIABILITY FOR INCOME TAXES IS DEEMED NECESSARY. THE ORGANIZATION'S TAX RETURNS FOR THE YEARS 2016, 2017 AND 2018 REMAIN SUBJECT TO EXAMINATION BY INTERNAL REVENUE SERVICE. IN THE UNLIKELY EVENT AN UNCERTAIN TAX POSITION EXISTED IN WHICH THE ORGANIZATION COULD INCUR CORPORATE INCOME TAXES, MANAGEMENT WOULD EVALUATE WHETHER THERE IS A PROBABILITY THAT THE UNCERTAIN TAX POSITION TAKEN WOULD BE SUSTAINED UPON EXAMINATION BY A TAXING AUTHORITY IN ACCORDANCE WITH FASC 740-10, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. BASED ON THE IMPLEMENTATION OF FAS ASC 740-10, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, THE ORGANIZATION HAS DETERMINED THAT NO AMOUNTS ARE REQUIRED TO BE ACCRUED FOR TAXES OR RELATED PENALTIES AND INTEREST FOR ANY TAX POSITIONS TAKEN THROUGH SEPTEMBER 30, 2020.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt026409485
IRS990ScheduleD/TotalLiabilityAmt08747785
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A COPY WAS RECEIVED FROM THE ENTITIES INDEPENDENT ACCOUNTANTS AND ALL BOARD MEMBERS REVIEWED AT A MEETING BEFORE SIGN AND MAIL IT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE OFFICERS, DIRECTORS AND KEY EMPLOYEES ARE REQUIRED ANNUALLY IN A MEETING TO DISCLOSE INTERESTS THAT COULD GIVE RISE TO CONFLICT.

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$28,833,320
Liabilities
$9,300,809
Net assets
$19,532,511
Revenue
$2,136,856
Expenses
$3,101,075
Net income
-$964,219
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$23.8$13.1$10.7$1.88$3.33$1.45
2023Summary only. Only limited summary data is available for this year.$26.5$12.7$13.8$2.06$2.84$0.78
2022Summary only. Only limited summary data is available for this year.$27.4$9.07$18.3$2.16$2.56$0.40
2021Summary only. Only limited summary data is available for this year.$28.0$9.30$18.7$2.13$2.94$0.81
2020Detailed filing. Detailed filing data is available for this year.$28.8$9.30$19.5$2.14$3.10$0.96
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$29.1$7.34$21.7$1.98$3.34$1.36
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$30.9$11.6$19.3$2.55$3.36$0.81
2017Summary only. Only limited summary data is available for this year.$31.9$8.48$23.4$2.17$3.37$1.19
2016Detailed filing. Detailed filing data is available for this year.$33.2$8.63$24.6$2.57$3.50$0.94
2015Detailed filing. Detailed filing data is available for this year.$34.4$9.48$24.9$2.83$3.80$0.97
2013Summary only. Only limited summary data is available for this year.$58.8$15.2$43.6$3.26$4.47$1.21
2012Summary only. Only limited summary data is available for this year.$50.6$15.3$35.3$3.01$2.86$0.15
2011Summary only. Only limited summary data is available for this year.$53.7$50.8$2.89$3.97$2.99$0.98