Northeast Shores Development Corporation
- Assets
- $1.3m
- Revenue
- $533.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Cleveland, OH
- Founding
- 07/1987
- Data as of
- 06/2021
- EIN
- 34-1361219
Organization Overview
Northeast Shores Development Corporation is located in Cleveland, OH. The organization was established in 1987. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Northeast Shores Development Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Northeast Shores Development Corporation generated $533.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (11.9%) each year. All expenses for the organization totaled $257.1k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (22.2%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO CREATE A BETTER NORTH COLLIWOOD FOR EVERYONE TO LIVE, WORK AND VISIT
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO CREATE A BETTER NORTH COLLIWOOD FOR EVERYONE TO LIVE, WORK, AND VISIT
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elva Brodnick Trustee | OfficerTrustee | 6 | $0 |
Caroline Peak President | OfficerTrustee | 6 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Scalish Construction Construction | 6/29/15 | $251,960 |
Lawier Construction Construction | 6/29/15 | $678,183 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $16,047 |
| Net Gain/Loss on Asset Sales | $514,002 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $533,251 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,611 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $6,711 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $203,472 |
| Insurance | $7,064 |
| All other expenses | $8,717 |
| Total functional expenses | $257,149 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$5,500 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $631,519 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $24,424 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $615,981 |
| Total assets | $1,266,424 |
| Accounts payable and accrued expenses | $207,489 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $207,489 |
| Net assets without donor restrictions | $2,175,319 |
| Net assets with donor restrictions | -$1,116,384 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,266,424 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Northeast Shores Development Corporation has recieved totaling $140,000.
| Awarding Organization | Amount |
|---|---|
Neighborhood Progress Inc Cleveland, OH PURPOSE: Strategic Investment Initiative - Operating | $140,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Urban Affairs Coalition Philadelphia, PA | $25,704,306 | $97,554,481 |
Impact Community Action Columbus, OH | $17,964,278 | $51,062,093 |
Reinvestment Fund Inc Philadelphia, PA | $609,259,384 | $44,624,452 |
Akron Summit Community Action Agency Akron, OH | $9,053,133 | $31,825,266 |
Hocking-Athens Perry Community Action Glouster, OH | $22,374,760 | $30,742,269 |
Capital Area Community Services Inc Lansing, MI | $6,281,706 | $28,298,422 |
Indianapolis Foundation Inc Indianapolis, IN | $352,748,809 | $43,731,535 |
Blueprints Washington, PA | $9,542,152 | $23,150,876 |
Pennyrile Allied Community Services Inc Hopkinsville, KY | $9,618,726 | $22,758,893 |
Jumpstart Inc Cleveland, OH | $82,356,707 | $21,511,113 |
Lexington Center Corporation Lexington, KY | $378,439,328 | $16,156,810 |
Corporation For Ohio Appalachian Development Athens, OH | $7,078,759 | $21,339,241 |