Smart Development Inc
- Assets
- $8.4m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 1
- Location
- Cleveland, OH
- Founding
- 04/2018
- Data as of
- 12/2021
- EIN
- 82-4991900
Organization Overview
Smart Development Inc is located in Cleveland, OH. The organization was established in 2018. 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. Smart Development Inc 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 12/2021, Smart Development Inc generated $1.5m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 64.2% each year . All expenses for the organization totaled $1.2m during the year ending 12/2021. While expenses have increased by 52.3% per year over the past 4 years. They've been increasing with an increasing level of total revenue. 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
SEE ATTACHMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
TOTAL REVNUE LESS TOTAL EXPENSES
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mustafa Abed Executive Director/president | OfficerTrustee | 40 | $22,308 |
Fahed Haq Treasurer And Secretary | Trustee | 40 | $0 |
Wael Hassan Board Membebr | Trustee | 20 | $0 |
Nael Abushatafa Board Member | Trustee | 20 | $0 |
Fatima Shendi Board Member | Trustee | 20 | $0 |
Mahmound Mustafa Board Member | Trustee | 20 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $4,500 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,481,057 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,485,557 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,485,557 |
| 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. | $22,308 |
| 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 | $2,300 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $34,675 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $354 |
| Office expenses | $12,433 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $43,033 |
| Travel | $69 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $7,899 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $16,947 |
| All other expenses | $133,121 |
| Total functional expenses | $1,151,189 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,077,444 |
| 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 | $289,832 |
| Inventories for sale or use | $6,320,500 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $716,600 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,404,376 |
| Accounts payable and accrued expenses | $0 |
| 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 | $936,000 |
| Unsecured mortgages and notes payable | $499,900 |
| Other liabilities | $0 |
| Total liabilities | $1,435,900 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $2,152,311 |
| Retained earnings, endowment, accumulated income, or other funds | $4,816,165 |
| Total liabilities and net assets/fund balances | $8,404,376 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Smart Development Inc has recieved totaling $4,346,233.
| Awarding Organization | Amount |
|---|---|
Good360 Alexandria, VA PURPOSE: TO ASSIST THOSE IN NEED. | $4,076,892 |
George Gund Foundation Cleveland, OH PURPOSE: COMMUNITY FIRST PROGRAM AND OPERATING SUPPORT. | $85,000 |
George Gund Foundation Cleveland, OH PURPOSE: COMMUNITY FIRST PROGRAM AND OPERATING SUPPORT. | $75,000 |
Cleveland Foundation Cleveland, OH PURPOSE: ORGANIZATIONAL CAPACITY AND RESPONSIVE SUPPORT FOR AFGHAN RESETTLEMENT | $50,000 |
The Mcgregor Foundation East Cleveland, OH PURPOSE: to provide programming for senior Refugees and Immigrants | $20,000 |
Community West Foundation Westlake, OH PURPOSE: SEE PART IV | $17,770 |
Endowment Analysis
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kentucky River Foothills Development Council Inc Richmond, KY | $12,381,295 | $19,871,173 |
Community Action Of Southern Kentucky Incorporated Bowling Green, KY | $10,381,389 | $18,999,181 |
Northern Kentucky Community Action Commisson Inc Covington, KY | $8,823,439 | $18,121,235 |
University Circle Incorporated Cleveland, OH | $134,622,719 | $18,118,457 |
Foundation For Detroits Future Detroit, MI | $47,892,805 | $26,320,980 |
Usw District 10 Local 286 Welfare Trust Fund Philadelphia, PA | $8,668,111 | $17,307,586 |
Economic And Community Development Institute Inc Columbus, OH | $78,355,876 | $19,971,101 |
Liberty Lutheran Housing Development Corporation State College, PA | $52,974,358 | $15,701,429 |
Mountainheart Community Servces Inc Oceana, WV | $5,735,709 | $13,660,570 |
West Ohio Community Action Partnership Lima, OH | $6,981,623 | $15,279,840 |
Community Action Program Commission Of The Lancaster-Fairfield County Lancaster, OH | $11,087,648 | $12,770,614 |
University City District Philadelphia, PA | $9,386,670 | $9,712,200 |