Civic Intelligence

Ec Springfield Realty Inc.

990 • Fiscal year 2021 • EIN 82-3140429

Nov 01, 2020 to Oct 31, 2021 • Filed on Apr 28, 2022

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

90th percentile

0.89x

Higher debt load relative to assets than 90% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Liabilities / Revenue

99th percentile

67.11x

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

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Net Margin

2nd percentile

-169%

Higher net margin than 2% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

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.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Asset Growth

20th percentile

-1.0%

Faster asset growth than 20% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Revenue Growth

40th percentile

6.2%

Faster revenue growth than 40% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets90th percentile

Assets

Down

$13,246,177

Down $137,566 (-1.0%) from 2020

Net Assets

Down

$1,407,471

Down $317,747 (-18%) from 2020

Liabilities

Up

$11,838,706

Up $180,181 (+1.5%) from 2020

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin2nd percentile

Revenue

Up

$176,418

Up $10,331 (+6.2%) from 2020

Expenses

Up

$474,165

Up $63,970 (+16%) from 2020

Net Income

Down

-$297,747

Down $53,639 (-22%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth20th 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

2021

Assets$13,246,177
Liabilities$11,838,706
Net Assets$1,407,471
Open 2021 Filing

Operations Trend

Revenue Growth40th 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

2021

Revenue$176,418
Expenses$474,165
Net Income-$297,747
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Nov 1, 2020 to Oct 31, 2021
Signed
Apr 28, 2022
Return Version
2020v4.2
Gross Receipts
$176,418
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$12,034,306$11,728,708▼ $305,598
Cash and Non-Interest-Bearing Accounts$202,829$390,861▲ $188,032
Prepaid Expenses and Deferred Charges$608$608→ $0
Total Assets$13,383,743$13,246,177▼ $137,566
Other Assets Total$1,146,000$1,126,000▼ $20,000
Liabilities
Mortgage Notes Payable Secured by Investment Property$11,645,472$11,649,147▲ $3,675
Deferred Revenue-$176,000-
Accounts Payable and Accrued Expenses$13,053$13,559▲ $506
Total Liabilities$11,658,525$11,838,706▲ $180,181
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,146,000$1,126,000▼ $20,000
Net Assets Without Donor Restrictions$579,218$281,471▼ $297,747
Total Net Assets Fund Balance$1,725,218$1,407,471▼ $317,747
Total Liabilities and Net Assets / Fund Balance$13,383,743$13,246,177▼ $137,566

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$11,718,812$581,105$12,299,917
Leasehold Improvements$9,896$564$10,460
Other Assets Org$1,126,000--
Compensation and Service Providers
Top Officer Pay14th percentile

Board Members and Trustees

NameTitle
Bill SteinbergPresident, Treasurer
John MailhotDirector
B John DillClerk
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$418
Other Revenue
$176,000
Change in Net Assets
$-297,747

Audited Revenue Reconciliation

Revenue per Audited Statements
$176,418
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$10,000
Total Revenue per Audited Statements
$186,418
Total Revenue per Form 990
$176,418
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$474,165
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-$307,959-$307,959
Interest-$160,084-$160,084
Fees for Services Accounting-$5,120-$5,120
Insurance-$852-$852
Other Expenses-$150-$150
Total Functional Expenses$0$474,165$0$474,165

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$504,165
Expenses per Audited Statements$474,165
Total Expenses per Form 990$474,165
Expenses Not Reported on Form 990$30,000
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
2022-04-28
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

Additional Explanations

FORM 990, PART XI, LINE 9:

“In-kind services -20,000.”

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, 2021, 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 Appendix359 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, 2021, 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/ExplanationTxt3IN-KIND SERVICES -20,000.
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 XI, LINE 9:
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IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd01
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt011760000
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt1176000
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0FAIR MARKET VALUE
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1FAIR MARKET VALUE
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IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1SPRINGFIELD OPERATIONS ECS INC
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IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1J
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IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
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IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsGrp/BOYAmt013383743
IRS990/TotalAssetsGrp/EOYAmt013246177
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
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IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0418
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0176000
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0176418
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IRS990/VotingMembersIndependentCnt03
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IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0BILL STEINBERG
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum04132415310
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-04-28
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ReturnHeader/Filer/EIN0823140429
ReturnHeader/Filer/PhoneNum04137886522
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SPRINGFIELD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd001144
ReturnHeader/PreparerPersonGrp/PhoneNum04137391800
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0PATRICK LEARY
ReturnHeader/ReturnTs02022-05-10T06:58:02-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0BILL
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0STEINBERG
ReturnHeader/TaxPeriodBeginDt02020-11-01
ReturnHeader/TaxPeriodEndDt02021-10-31
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
$13,246,177
Liabilities
$11,838,706
Net assets
$1,407,471
Revenue
$176,418
Expenses
$474,165
Net income
-$297,747
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
2021Detailed filing. Detailed filing data is available for this year.$13.2$11.8$1.41$0.18$0.47$0.30
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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