Civic Intelligence

Ec Springfield Realty Inc.

990 • Fiscal year 2020 • EIN 82-3140429

Nov 01, 2019 to Oct 31, 2020 • Filed on Mar 08, 2021

Organization ProfileEDUCARESPRINGFIELD.ORG
100 Hickory StreetSpringfield, MA 01109

(413) 788-6522

Siviq Scores

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

Liabilities / Assets

88th percentile

0.87x

Higher debt load relative to assets than 88% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Liabilities / Revenue

99th percentile

70.20x

Higher debt load relative to revenue than 99% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Net Margin

3rd percentile

-147%

Higher net margin than 3% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Top Officer Pay

14th percentile

$0

Higher top officer pay than 14% of similar nonprofits.

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

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Asset Growth

8th percentile

-8.3%

Faster asset growth than 8% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Revenue Growth

85th percentile

34%

Faster revenue growth than 85% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets88th percentile

Assets

Down

$13,383,743

Down $1,213,923 (-8.3%) from 2019

Net Assets

Down

$1,725,218

Down $264,108 (-13%) from 2019

Liabilities

Down

$11,658,525

Down $949,815 (-7.5%) from 2019

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin3rd percentile

Revenue

Up

$166,087

Up $42,141 (+34%) from 2019

Expenses

Up

$410,195

Up $388,020 (+1750%) from 2019

Net Income

Down

-$244,108

Down $345,879 (-340%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth8th percentile

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

$15M$10M$5.0M$0Assets 2019: $14,597,666Liabilities 2019: $12,608,340Net Assets 2019: $1,989,3262019Assets 2020: $13,383,743Liabilities 2020: $11,658,525Net Assets 2020: $1,725,2182020Assets 2021: $13,246,177Liabilities 2021: $11,838,706Net Assets 2021: $1,407,4712021Assets 2022: $12,755,199Liabilities 2022: $11,668,883Net Assets 2022: $1,086,3162022Assets 2024: $12,145,922Liabilities 2024: $11,686,190Net Assets 2024: $459,7322024

Highlighted filing

2020

Assets$13,383,743
Liabilities$11,658,525
Net Assets$1,725,218
Open 2020 Filing

Operations Trend

Revenue Growth85th percentile

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

$600K$400K$200K$0-$200K-$400KRevenue 2019: $123,946Expenses 2019: $22,175Net Income 2019: $101,7712019Revenue 2020: $166,087Expenses 2020: $410,195Net Income 2020: -$244,1082020Revenue 2021: $176,418Expenses 2021: $474,165Net Income 2021: -$297,7472021Revenue 2022: $176,927Expenses 2022: $478,082Net Income 2022: -$301,1552022Revenue 2024: $182,518Expenses 2024: $475,534Net Income 2024: -$293,0162024

Highlighted filing

2020

Revenue$166,087
Expenses$410,195
Net Income-$244,108
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Nov 1, 2019 to Oct 31, 2020
Signed
Mar 8, 2021
Return Version
2019v5.2
Gross Receipts
$166,087
Mission and Program Overview

Mission

Developing real estate for the benefit of charitable and educational purposes.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$0$12,034,306▲ $12,034,306
Cash and Non-Interest-Bearing Accounts$1,653,728$202,829▼ $1,450,899
Prepaid Expenses and Deferred Charges$1,824$608▼ $1,216
Total Assets$14,597,666$13,383,743▼ $1,213,923
Other Assets Total$12,942,114$1,146,000▼ $11,796,114
Liabilities
Mortgage Notes Payable Secured by Investment Property$11,641,797$11,645,472▲ $3,675
Accounts Payable and Accrued Expenses$966,543$13,053▼ $953,490
Total Liabilities$12,608,340$11,658,525▼ $949,815
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,166,000$1,146,000▼ $20,000
Net Assets Without Donor Restrictions$823,326$579,218▼ $244,108
Total Net Assets Fund Balance$1,989,326$1,725,218▼ $264,108
Total Liabilities and Net Assets / Fund Balance$14,597,666$13,383,743▼ $1,213,923

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$12,026,310$273,607$12,299,917
Leasehold Improvements$7,996$102$8,098
Other Assets Org$1,146,000--
Compensation and Service Providers
Top Officer Pay14th percentile

Board Members and Trustees

NameTitle
Bill SteinbergPresident, Treasurer
John MailhotDirector
B John DillClerk

Highest Paid Contractors

ContractorServicesLocationCompensation
Western BuildersContruction73 PLEASANT STREET, Granby, MA 01033$423,508
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$3,597
Other Revenue
$162,490
Change in Net Assets
$-244,108

Audited Revenue Reconciliation

Revenue per Audited Statements
$166,087
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$24,255
Total Revenue per Audited Statements
$190,342
Total Revenue per Form 990
$166,087
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$410,195
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-$273,709-$273,709
Interest-$133,402-$133,402
Fees for Services Legal-$1,008-$1,008
Insurance-$969-$969
Other Expenses-$832-$832
Fees for Services Accounting-$275-$275
Total Functional Expenses$0$410,195$0$410,195

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$454,450
Expenses per Audited Statements$410,195
Total Expenses per Form 990$410,195
Expenses Not Reported on Form 990$44,255
Expenses Not Reported on Financial Statements$0
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
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“Board to review 990 prior to filing.”

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

“The governing board will perform periodic reviews of adherence to the policy.”

Form 990, Part VI, Section C, Line 19

“Governing documents and finanical statements are furnished upon written request.”

Filing and Contact Details

Filer

Filer Name
Ec Springfield Realty Inc
EIN
82-3140429
Phone
4137886522
Address
100 HICKORY STREET, SPRINGFIELD, MA 01109

Signing Officer

Name
Bill Steinberg
Title
President
Phone
4132415310
Signed
2021-03-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bill Steinberg
Formed
2017
Legal Domicile
Ma
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
Mp Pc
Address
ONE MONARCH PLACE, SPRINGFIELD, MA 01144
Preparer
Patrick Leary
Phone
4137391800
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“Ec springfield realty, inc. (realty) qualifies as a tax-exempt organization under section 501(c)(3) of the internal revenue code and accordingly has no provision for income taxes. In addition, contributors to realty qualify for the charitable contribution deduction under section 170(b)(1)(a). Realty is classified as an organization other than a private foundation under section 509(a)(2). Accounting principles generally accepted in the united states of america require realty's management to evaluate tax positions taken by realty and recognize a tax liability (or asset) if realty has taken any uncertain tax positions that more than likely would not be sustained upon examination by the irs. Management has analyzed the tax positions taken by realty and has concluded that as of october 31, 2020, there are no uncertain positions taken or expected to be taken that would require recognition of a tax liability (or asset) or disclosure in the financial statements.”

Raw XML Appendix360 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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0EC SPRINGFIELD REALTY, INC. (REALTY) QUALIFIES AS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND ACCORDINGLY HAS NO PROVISION FOR INCOME TAXES. IN ADDITION, CONTRIBUTORS TO REALTY QUALIFY FOR THE CHARITABLE CONTRIBUTION DEDUCTION UNDER SECTION 170(B)(1)(A). REALTY IS CLASSIFIED AS AN ORGANIZATION OTHER THAN A PRIVATE FOUNDATION UNDER SECTION 509(A)(2). ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE REALTY'S MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY REALTY AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF REALTY HAS TAKEN ANY UNCERTAIN TAX POSITIONS THAT MORE THAN LIKELY WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY REALTY AND HAS CONCLUDED THAT AS OF OCTOBER 31, 2020, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A TAX LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0BOARD TO REVIEW 990 PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE GOVERNING BOARD WILL PERFORM PERIODIC REVIEWS OF ADHERENCE TO THE POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS AND FINANICAL STATEMENTS ARE FURNISHED UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
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IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd01
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd01
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt011760000
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt1161333
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0FAIR MARKET VALUE
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1FAIR MARKET VALUE
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0SPRINGFIELD OPERATIONS ECS INC
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1SPRINGFIELD OPERATIONS ECS INC
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0E
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1J
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt014597666
IRS990/TotalAssetsEOYAmt013383743
IRS990/TotalAssetsGrp/BOYAmt014597666
IRS990/TotalAssetsGrp/EOYAmt013383743
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0410195
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0410195
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt012608340
IRS990/TotalLiabilitiesEOYAmt011658525
IRS990/TotalLiabilitiesGrp/BOYAmt012608340
IRS990/TotalLiabilitiesGrp/EOYAmt011658525
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01989326
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01725218
IRS990/TotalOtherCompensationAmt00
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt03597
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0162490
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0166087
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt014597666
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt013383743
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0ONE MONARCH PLACE SUITE 1300
IRS990/USAddress/CityNm0SPRINGFIELD
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd001144
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0EDUCARESPRINGFIELD.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0BILL STEINBERG
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum04132415310
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-03-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0EC SPRINGFIELD REALTY INC
ReturnHeader/Filer/BusinessNameControlTxt0ECSP
ReturnHeader/Filer/EIN0823140429
ReturnHeader/Filer/PhoneNum04137886522
ReturnHeader/Filer/USAddress/AddressLine1Txt0100 HICKORY STREET
ReturnHeader/Filer/USAddress/CityNm0SPRINGFIELD
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MA
ReturnHeader/Filer/USAddress/ZIPCd001109
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0043191789
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MP PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0ONE MONARCH PLACE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SPRINGFIELD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd001144
ReturnHeader/PreparerPersonGrp/PhoneNum04137391800
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0PATRICK LEARY
ReturnHeader/ReturnTs02021-03-13T11:30:08-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-11-01
ReturnHeader/TaxPeriodEndDt02020-10-31
ReturnHeader/TaxYr02019

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$13,383,743
Liabilities
$11,658,525
Net assets
$1,725,218
Revenue
$166,087
Expenses
$410,195
Net income
-$244,108
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.1$11.7$0.46$0.18$0.48$0.29
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$12.8$11.7$1.09$0.18$0.48$0.30
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.2$11.8$1.41$0.18$0.47$0.30
2020Detailed filing. Detailed filing data is available for this year.$13.4$11.7$1.73$0.17$0.41$0.24
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$14.6$12.6$1.99$0.12$0.02$0.10