Smart Development Inc
- Assets
- $8.2m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 6
- Location
- Cleveland, OH
- Founding
- 04/2018
- Data as of
- 12/2022
- 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. As of 12/2022, Smart Development Inc employed 6 individuals. 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 12/2022, Smart Development Inc generated $2.0m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 57.8% each year . All expenses for the organization totaled $1.7m during the year ending 12/2022. While expenses have increased by 51.4% per year over the past 5 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATIONS MISSION IS TO CREATE SUSTAINABLE AND VIBRANT COMMUNITIES THROUGH NEIGHBORHOOD REVITALIZATION, AFFORDABLE HOUSING AND WRAP AROUND SUPPORTIVE SERVICES ENSURING ALL INDIVIDUAL
Describe the Organization's Program Activity:
Part 3 - Line 4a
PART 1 AND PART 11. STATEMENT OF PROGRAM SERVICE ACCOMPLISHMENTS MISSION IS TO CREATE, NOURISH, AND BUILD SUSTAINABLE AND VIBRANT COMMUNITIES THROUGH COMMUNITY BASED SERVICES, AFFORDABLE HOUSING, AND WRAP AROUND SUPPORTIVE SERVICES ENSURING ALL INDIVIDUALS AND FAMILIES CAN THRIVE WHILE MAINTAINING AND CELEBRATING DIVERSE CULTURES, VALUES AND PEOPLE. SMART DEVELOPMENT PROVIDES DIRECT WRAP-AROUND CULTURALLY COMPETENT SERVICE TO ALLEVIATE HARDSHIPS FOR THOSE IN NEED WHILE OPERATING IN A COLLABORATIVE SPIRIT...VISION SMART DEVELOPMENT STRIVES TO CONTINUOUSLY SPREAD OUR MESSAGE OF OPPORTUNITY, HOPE, AND EQUITY. WHEN COMMUNITIES STRUGGLE, WE FOCUS NOT ONLY ON SHORT-TERM BUT LONG-TERM RECOVERY FOR MORE DIVERSE, EQUITABLE COMMUNITIES WE CALL HOME. WHILE WE HELP ALL IN NEED, WE PRIDE OURSELVES ON BEING FROM THE COMMUNITIES WE SERVE, EMPHASIZING REFUGEE AND IMMIGRANT COMMUNITIES BE ABLE TO GROW ROOTS AND BECOME SELF-SUFFICIENT WITH ACESS TO THE SAME OPPORTUNITIES FOR ALL. WE BELIEVE THAT A SINGLE ACTION CAN MAKE A DIFFERENCE IN THE COMMUNITY, AND THAT COLLECTIVE ACTION CAN GREATLY TRANL
PART 111 4A SMART DEVELOPMENTS SERVICES WERE DEVELOPED AND IMPLEMENTED TO ADDRESS THE WRAP-AROUND NEEDS OF INDIVIDUALS AND FAMILIES TO STRENGTHEN THEM BY REMOVING BARRIERS TO HOUSING AND SOCIAL SERVICE ACCESS THROUGH CULTURALLY COMPETENT STRENGTH-BASED CASE MANAGEMENT SERVICES. THESE SERVICES ARE OPEN ENDED, ALLOWING INDIVIDUALS AND FAMILIES THE TIME NEEDED TO ACHIEVE THEIR IDENTIFIED GOALS TOWARD INCREASED STABILITY AND SOCIO-ECONOMICS SUCCESS. THE MAJORITY OF FAMILIES SERVED RESIDE IN GREATER CLEVELAND, OHIO. SERVICES ARE FOCUSED ON ADDRESSING BARRIERS THAT ARE COMMON TO FAMILIES WHO RESIDE IN LOW INCOME NEIGHBORHOODS, WITH GOALS CONCENTRATED IN THE AREAS OF COMMUNITY DEVELOPMENT, HOUSING AND COMMUNITY REVITALIZATION, CIVIC ENGAGEMENT, FINANCIAL LITERACY, EMPLOYMENT, LANGUAGE ACCESS, EDUCATION, AND BASIC NEED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mustafa Abed Executive Director/president | OfficerTrustee | 40 | $73,923 |
Fahed Haq Treasurer And Secretary | Trustee | 40 | $0 |
Nael Abushatafa Board Member | Trustee | 20 | $0 |
Will Hassan Board Membebr | 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 | $5,000 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,966,164 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,971,164 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $28,040 |
| 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 | $1,999,204 |
| 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 | $2,052 |
| Compensation of current officers, directors, key employees. | $146,245 |
| Compensation of current officers, directors, key employees. | $146,245 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $10,000 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $20,544 |
| 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 | $3,600 |
| Advertising and promotion | $1,666 |
| Office expenses | $0 |
| Information technology | $9,138 |
| Royalties | $0 |
| Occupancy | $88,000 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,731 |
| All other expenses | $1,361,138 |
| Total functional expenses | $1,702,588 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $697,785 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $56,000 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $6,433,462 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $973,910 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,161,157 |
| Accounts payable and accrued expenses | $4,213 |
| 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 | $409,033 |
| Unsecured mortgages and notes payable | $767,019 |
| Other liabilities | $0 |
| Total liabilities | $1,180,265 |
| 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 | $2,125,632 |
| Retained earnings, endowment, accumulated income, or other funds | $4,100,000 |
| Total liabilities and net assets/fund balances | $8,161,157 |