Civic Intelligence

Tms West

990 • Fiscal year 2021 • EIN 81-2226622

Jul 01, 2020 to Jun 30, 2021 • Filed on May 16, 2022

Organization ProfileN/A
11125 Magnolia Drive No 410Cleveland, OH 44106

(216) 421-5806

Siviq Scores

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

Liabilities / Assets

95th percentile

1.13x

Higher debt load relative to assets than 95% of similar nonprofits.

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

Liabilities / Revenue

100th percentile

98.93x

Higher debt load relative to revenue than 100% of similar nonprofits.

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

Net Margin

1st percentile

-256%

Higher net margin than 1% of similar nonprofits.

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

Top Officer Pay

87th percentile

$170,000

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 316.8% of source-year revenue.

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

Asset Growth

17th percentile

-3.1%

Faster asset growth than 17% of similar nonprofits.

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

Revenue Growth

88th percentile

104%

Faster revenue growth than 88% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets95th percentile

Assets

Down

$4,686,999

Down $150,812 (-3.1%) from 2020

Net Assets

Down

-$621,223

Down $137,602 (-28%) from 2020

Liabilities

Down

$5,308,222

Down $13,210 (-0.2%) from 2020

Revenue And Expenses
Liabilities / Revenue100th percentileNet Margin1st percentile

Revenue

Up

$53,658

Up $27,312 (+104%) from 2020

Expenses

Down

$191,260

Down $1 (-0.0%) from 2020

Net Income

Up

-$137,602

Up $27,313 (+17%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth17th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MAssets 2017: $5,212,211Liabilities 2017: $5,283,389Net Assets 2017: -$71,1782017Assets 2018: $5,121,240Liabilities 2018: $5,283,389Net Assets 2018: -$162,1492018Assets 2019: $5,002,284Liabilities 2019: $5,320,990Net Assets 2019: -$318,7062019Assets 2020: $4,837,811Liabilities 2020: $5,321,432Net Assets 2020: -$483,6212020Assets 2021: $4,686,999Liabilities 2021: $5,308,222Net Assets 2021: -$621,2232021Assets 2022: $4,558,946Liabilities 2022: $5,283,389Net Assets 2022: -$724,4432022Assets 2023: $4,438,656Liabilities 2023: $5,283,389Net Assets 2023: -$844,7332023Assets 2024: $3,502,254Liabilities 2024: $0Net Assets 2024: $3,502,2542024

Highlighted filing

2021

Assets$4,686,999
Liabilities$5,308,222
Net Assets-$621,223
Open 2021 Filing

Operations Trend

Revenue Growth88th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2017: $0Expenses 2017: $71,178Net Income 2017: -$71,1782017Revenue 2018: $0Expenses 2018: $90,971Net Income 2018: -$90,9712018Revenue 2019: $26,347Expenses 2019: $182,904Net Income 2019: -$156,5572019Revenue 2020: $26,346Expenses 2020: $191,261Net Income 2020: -$164,9152020Revenue 2021: $53,658Expenses 2021: $191,260Net Income 2021: -$137,6022021Revenue 2022: $88,041Expenses 2022: $191,261Net Income 2022: -$103,2202022Revenue 2023: $80,970Expenses 2023: $201,260Net Income 2023: -$120,2902023Revenue 2024: $4,447,277Expenses 2024: $100,290Net Income 2024: $4,346,9872024

Highlighted filing

2021

Revenue$53,658
Expenses$191,260
Net Income-$137,602
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 16, 2022
Return Version
2020v4.2
Gross Receipts
$179,410
Mission and Program Overview

Mission

Tms west, wholly-owned by the music settlement, was incorporated in the state of ohio as a not-for-profit organization for the purpose of establishing a qualified active low income community business participating in a new markets tax credit (nmtc) real estate development project on cleveland's west side. Tms west owns a commercial unit in a new mixed-use residential and commercial building. Completion of the contstruction project is planned for the summer of 2018.

Tms west, wholly owned by the music settlement, was incorporated in the state of ohio as a not-for-profit organization for the purpose of establishing a qualified active low- income community business participating in a new markets tax credit (nmtc) real estate development project on cleveland's west side. Tms west owns a commercial unit in a new mixed-use residential and commercial building constructed in 2018. Under a long-term agreement tms west leases its facility to the music settlement for operating its programs on cleveland's west side. The music settlement's programs at this location include early childhood, music lessons and music therapy services.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,903,411$3,803,121▼ $100,290
Cash and Non-Interest-Bearing Accounts$118,531$68,009▼ $50,522
Total Assets$4,837,811$4,686,999▼ $150,812
Other Assets Total$815,869$815,869→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$4,850,000$4,850,000→ $0
Other Liabilities$433,389$433,389→ $0
Accounts Payable and Accrued Expenses$38,043$24,833▼ $13,210
Total Liabilities$5,321,432$5,308,222▼ $13,210
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-483,621$-621,223▼ $137,602
Total Net Assets Fund Balance$-483,621$-621,223▼ $137,602
Total Liabilities and Net Assets / Fund Balance$4,837,811$4,686,999▼ $150,812

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,723,848$292,513$4,016,361
Land$79,273-$79,273
Other Assets Org$815,869--
Compensation and Service Providers
Top Officer Pay87th percentile

Board Members and Trustees

NameTitle
Maura L HughesChairperson
Geralyn M PrestiPresident
Deborah a WilcoxVice President
John W Waldeck JrVice President & Treasurer
Andrew FiorellaSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$53,658
Change in Net Assets
$-137,602
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$191,260
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion-$100,290-$100,290
Office Expenses-$80,970-$80,970
Other Expenses-$10,000-$10,000
Total Functional Expenses$0$191,260$0$191,260
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
Intercompany Payable - Due to Tms$433,389
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“A copy of form 990 was provided to all board members.”

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

“Tms west requires an annual review and update by board members of the conflict of interest policy. Board and senior staff members annually sign a document which states that they have read and are in compliance with the conflict of interest policy.”

Form 990, Part VI, Section C, Line 19

“Tms west makes all governing documents, its conflict of interest policy and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Tms West
EIN
81-2226622
Phone
2164215806
Address
11125 MAGNOLIA DRIVE NO 410, CLEVELAND, OH 44106

Signing Officer

Name
Geralyn M Presti
Title
President
Phone
2164215806
Signed
2022-05-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Geralyn M Presti
Formed
2016
Legal Domicile
Oh
Voting Board Members
5
Independent Board Members
4
Employees
0
Volunteers
0

Preparer

Firm
Zinner & Co Llp
Address
3201 ENTERPRISE PARKWAY SUITE 410, CLEVELAND, OH 44122-7329
Preparer
Susan D Krantz
Phone
2168310733
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

“This process has not changed from the prior year.”

Raw XML AppendixShowing 400 of 403 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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IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0PRESIDENT & CEO GERALYN M. PRESTI WAS PAID BY THE CLEVELAND MUSIC SCHOOL SETTLEMENT WHICH IS A RELATED ORGANIZATION. THE CHIEF EXECUTIVE OFFICER POSITION IS REVIEWED ANNUALLY BY BOTH THE CHAIRMAN OF THE BOARD AND THE BOARD. A SALARY ANALYSIS IS COMPLETED AND PRESENTED FOR COMMITTEE REVIEW AND APPROVAL. ALL OTHER OFFICERS ARE REVIEWED ANNUALLY BY THE CHIEF EXECUTIVE OFFICER, WHICH INCLUDES A PERFORMANCE ASSESSMENT TO ESTABLISH WHETHER ANNUAL OBJECTIVES (BY POSITION) HAVE BEEN MET.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 3
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A COPY OF FORM 990 WAS PROVIDED TO ALL BOARD MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1TMS WEST REQUIRES AN ANNUAL REVIEW AND UPDATE BY BOARD MEMBERS OF THE CONFLICT OF INTEREST POLICY. BOARD AND SENIOR STAFF MEMBERS ANNUALLY SIGN A DOCUMENT WHICH STATES THAT THEY HAVE READ AND ARE IN COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2TMS WEST MAKES ALL GOVERNING DOCUMENTS, ITS CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XII, LINE 2C
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
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IRS990ScheduleR/PerformOfServicesForOthOrgInd00
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IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
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IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd01
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
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IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt1125752
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt2433389
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0FAIR MARKET VALUE
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1FAIR MARKET VALUE
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt2FAIR MARKET VALUE
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0THE CLEVELAND MUSIC SCHOOL SETTLEMENT
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1THE CLEVELAND MUSIC SCHOOL SETTLEMENT
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt2THE CLEVELAND MUSIC SCHOOL SETTLEMENT
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IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
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Document Assets

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Filings

Displayed year

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

Open filing
Assets
$4,686,999
Liabilities
$5,308,222
Net assets
-$621,223
Revenue
$53,658
Expenses
$191,260
Net income
-$137,602
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.50$0.00$3.50$4.45$0.10$4.35
2023Detailed filing. Detailed filing data is available for this year.$4.44$5.28$0.84$0.08$0.20$0.12
2022Detailed filing. Detailed filing data is available for this year.$4.56$5.28$0.72$0.09$0.19$0.10
2021Detailed filing. Detailed filing data is available for this year.$4.69$5.31$0.62$0.05$0.19$0.14
2020Detailed filing. Detailed filing data is available for this year.$4.84$5.32$0.48$0.03$0.19$0.16
2019Detailed filing. Detailed filing data is available for this year.$5.00$5.32$0.32$0.03$0.18$0.16
2018Detailed filing. Detailed filing data is available for this year.$5.12$5.28$0.16$0.00$0.09$0.09
2017Detailed filing. Detailed filing data is available for this year.$5.21$5.28$0.07$0.00$0.07$0.07