Civic Intelligence

Sunny Side Development Ltd.

990EZ • Fiscal year 2023 • EIN 82-5451776

Jan 01, 2023 to Dec 31, 2023 • Filed on May 09, 2024

1231 E Dayton StMadison, WI 53703

(608) 239-8500

Siviq Scores

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

Liabilities / Assets

99th percentile

7.90x

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

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

100th percentile

760.34x

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

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

1st percentile

-6507%

Higher net margin than 1% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

78th percentile

$3

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 1.8% of source-year revenue.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

13th percentile

-40%

Faster asset growth than 13% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

2nd percentile

-99%

Faster revenue growth than 2% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Assets

Down

$15,882

Down $10,736 (-40%) from 2022

Net Assets

Down

-$109,574

Down $111,351 (-6266%) from 2022

Liabilities

Up

$125,456

Up $100,615 (+405%) from 2022

Revenue

Down

$165

Down $24,853 (-99%) from 2022

Expenses

Down

$10,901

Down $13,465 (-55%) from 2022

Net Income

Down

-$10,736

Down $11,388 (-1747%) from 2022

Historical Trend

Balance Sheet Trend

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

$200K$100K$0-$100K-$200KAssets 2018: $0Liabilities 2018: $18,366Net Assets 2018: -$18,3662018Assets 2019: $0Liabilities 2019: $21,989Net Assets 2019: -$21,9892019Assets 2020: $0Liabilities 2020: $22,369Net Assets 2020: -$22,3692020Assets 2021: $25,966Liabilities 2021: $24,841Net Assets 2021: $1,1252021Assets 2022: $26,618Liabilities 2022: $24,841Net Assets 2022: $1,7772022Assets 2023: $15,882Liabilities 2023: $125,456Net Assets 2023: -$109,5742023Assets 2024: $97,806Net Assets 2024: $97,8062024

Highlighted filing

2023

Assets$15,882
Liabilities$125,456
Net Assets-$109,574

Operations Trend

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

$200K$150K$100K$50K$0-$50KRevenue 2018: $0Expenses 2018: $18,366Net Income 2018: -$18,3662018Revenue 2019: $0Expenses 2019: $3,623Net Income 2019: -$3,6232019Revenue 2020: $0Expenses 2020: $380Net Income 2020: -$3802020Revenue 2021: $26,042Expenses 2021: $2,548Net Income 2021: $23,4942021Revenue 2022: $25,018Expenses 2022: $24,366Net Income 2022: $6522022Revenue 2023: $165Expenses 2023: $10,901Net Income 2023: -$10,7362023Revenue 2024: $178,156Expenses 2024: $88,088Net Income 2024: $90,0682024

Highlighted filing

2023

Revenue$165
Expenses$10,901
Net Income-$10,736
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 9, 2024
Return Version
2023v5.0
Gross Receipts
$165
Mission and Program Overview

Mission

To provide affordable, sustainable housing to low-income households in Wisconsin.

Program Services

DescriptionGrantsExpenses
In 2023, Sunny Side Development continued with its three development projects: ERA, Greenspire, and Zapata Cooperative. ERA made very slow progress on its RD loan, which finally closed in early 2024. Greenspire applied and received $5.52M in funding from the Green and Resilient Retrofit Program (GRRP) offered by HUD, to enable the entire property to become 100% carbon neutral. Zapata Cooperative started construction and was 65% complete by the end of 2023. In addition, SSD investigated several other development opportunities in 2023 including Edgerton Child High School, Park St. Lofts, Port St. Vincent, and Rodgers St., however, none resulted in developments. SSD did, however, sign an MOU for Red Pine Cooperative, which it plans to develop in 2024/2025.$0$0
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Samantha HockDirector And Secretary-$1$2$3
Nathan NoordhoekDirector And President-$0--
Norman BairDirector And Co-Treasurer-$0--
Helen PanDirector And Co-Treasurer-$0--
Abby DavidsonDirectorPT$0--
Elizabeth SchneeDirector-$0--
Paul SchechterExecutive DirectorFT$0--
Filing and Contact Details

Filer

Filer Name
Sunny Side Development Ltd
EIN
82-5451776
Phone
6082398500
Address
1231 E Dayton St, Madison, WI 53703

Signing Officer

Name
Paul Schechter
Title
Executive Director
Phone
6082398500
Signed
2024-05-09
Supplemental Narrative

Additional Explanations

Form 990-EZ, Part I, Line 16

Description;Amount^Earnest money for purchase of 722 Moorland;10000|Food for 2023 annual meeting;37|WI DFI non stock annual filing fee;50|WI DFI annual registeration;54|Dish for Edgerton potluck;8|WHEDA annual conference;345|Certificate of good standing for Edgerton Retirement Apartments;10|Food for Edgerton potluck;10^Total;10514^

Form 990-EZ, Part I, Line 20

Sunny Side Development and Crown Court Properties jointly took out a $200,000 loan in 2023, to pay for predevelopment expenses for Greenspire. SSD's liability is 50% of the loan, or $100,000. In addition, the balance on the line of credit owed to Paul Schechter increased from $24,849 as of 12/31/2022 to $25,456 as of 12/31/2023, for a change of $607

Form 990-EZ, Part II, Line 26

As of 12/31/2023, Sunny Side Development owed Impact Seven $100,000 for Greenspire predevelopment loan As of 12/31/2023, Sunny Side Development owed Paul Schechter $25,455.51

Raw XML Appendix270 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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IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt0In 2023, Sunny Side Development continued with its three development projects: ERA, Greenspire, and Zapata Cooperative. ERA made very slow progress on its RD loan, which finally closed in early 2024. Greenspire applied and received $5.52M in funding from the Green and Resilient Retrofit Program (GRRP) offered by HUD, to enable the entire property to become 100% carbon neutral. Zapata Cooperative started construction and was 65% complete by the end of 2023. In addition, SSD investigated several other development opportunities in 2023 including Edgerton Child High School, Park St. Lofts, Port St. Vincent, and Rodgers St., however, none resulted in developments. SSD did, however, sign an MOU for Red Pine Cooperative, which it plans to develop in 2024/2025.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Description;Amount^Earnest money for purchase of 722 Moorland;10000|Food for 2023 annual meeting;37|WI DFI non stock annual filing fee;50|WI DFI annual registeration;54|Dish for Edgerton potluck;8|WHEDA annual conference;345|Certificate of good standing for Edgerton Retirement Apartments;10|Food for Edgerton potluck;10^Total;10514^
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Sunny Side Development and Crown Court Properties jointly took out a $200,000 loan in 2023, to pay for predevelopment expenses for Greenspire. SSD's liability is 50% of the loan, or $100,000. In addition, the balance on the line of credit owed to Paul Schechter increased from $24,849 as of 12/31/2022 to $25,456 as of 12/31/2023, for a change of $607
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2As of 12/31/2023, Sunny Side Development owed Impact Seven $100,000 for Greenspire predevelopment loan As of 12/31/2023, Sunny Side Development owed Paul Schechter $25,455.51
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990-EZ, Part I, Line 16
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990-EZ, Part I, Line 20
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990-EZ, Part II, Line 26
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ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Director
ReturnHeader/BusinessOfficerGrp/PhoneNum06082398500
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SUNNY SIDE DEVELOPMENT LTD
ReturnHeader/Filer/BusinessNameControlTxt0SUNN
ReturnHeader/Filer/EIN0825451776
ReturnHeader/Filer/PhoneNum06082398500
ReturnHeader/Filer/USAddress/AddressLine1Txt01231 E Dayton St
ReturnHeader/Filer/USAddress/CityNm0Madison
ReturnHeader/Filer/USAddress/StateAbbreviationCd0WI
ReturnHeader/Filer/USAddress/ZIPCd053703
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/ReturnTs02024-05-10T14:22:43-07:00
ReturnHeader/ReturnTypeCd0990EZ
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Paul
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Schechter
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

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