Corktown Bommunity Development Fund FY2020 filing

EIN 20-5654069 Public charity (501(c)(3)) Detroit, MI Founded 2006

Form 990 (PDF)

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Size

<$100K

What they do

Revitalizes distressed communities by offering affordable loans, business education, and rental housing.

Leadership

Ronald Cooley · Treasurer/Se · $12K

Money in and out

$58K revenue, $52K expenses

Bottom line

95% program efficiency

Revitalizes distressed communities by offering affordable loans, business education, and rental housing. For fiscal year 2020 it reported $58K in revenue, $52K in expenses, and $2.1M in net assets.Pt I

Where the money goes · FY2020

Total revenue

$58K

Pt VIII · Ln 12

Total expenses

$52K

Pt IX · Ln 25

Net assets

$2.1M

Pt X · Ln 32

Revenue less expenses (Pt I · Ln 19): $6K

Where spending went · Part IX cols B–D

95%

Program services $0.95 Management & general $0.05

Program efficiency

95%

of spending reaches programs

Operating runway

46.2mo

months of highly liquid reserves at operating expense rate

Surplus margin

+11%

revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2020 · Form 990

Revenue

$58K

FY2020

Expenses

$52K

FY2020

Total assets

$2.1M

FY2020

Total liabilities

FY2020

Total revenue

$58K

Pt VIII · Ln 12

Total expenses

$52K

Pt IX · Ln 25

Net assets

$2.1M

Pt X · Ln 32

Revenue less expensesPt I · Ln 19$6K

Total assetsPt X · Ln 16$2.1M

Program-expense ratioPt IX · col B95%

Voting members of governing bodyPt I · Ln 33

Independent voting membersPt I · Ln 43

Mission & Programs · Part III

Where the work happens

2 program services account for $49K of program spending, described in the organization's own filed words · FY2020.

Continued to service loans made to eligible businesses in prior years. Used residential units obtained in a prior year to provide rental opportunities in the economically distressed service areas. Educational classes were also provided throughout the year.

$49Kprogram expense

Received grant monies to support the beautification of corktown and michigan avenue, the targeted areas in which the organization focuses its efforts. Accomplishments include tree planting, landscaping and trash clean up using these funds.

Pt IX · col B

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Identity & Classification

Form 990 Header · IRS Business Master File

Legal nameHdr · item CCorktown Bommunity Development Fund

EINHdr · item D20-5654069

Principal addressHdr · item CDetroit, MI

WebsiteHdr · item Jguidestar.org

Year of formationHdr · item L2006

State of legal domicileHdr · item MMI

Exempt statusHdr · item I501(c)(3) · active

NTEE classificationIRS BMFCommunity Development (S31)

Ruling yearIRS BMFJan 2008

Governance & Policies

Part VI

Voting members of the governing bodyPt VI · Ln 1a3

Independent voting membersPt VI · Ln 1b3

Conflict-of-interest policyPt VI · Ln 12aYes

Whistleblower policyPt VI · Ln 13No

Document retention policyPt VI · Ln 14No

CEO/top-official compensation independently reviewedPt VI · Ln 15aYes

Family or business relationships among officers/directorsPt VI · Ln 2Yes

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation

Ronald Cooley

Treasurer/Se

$12,000Pt VII · Sec A

Ryan Cooley

President

$4,000Pt VII · Sec A

Phillip Cooley

Director

$0Pt VII · Sec A

Ronald Cooley’s $12K as Treasurer/Se is at the 39th percentile of top reported officer pay among 166 <$100K community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

Name	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Ronald Cooley	$12,000	$12,000	$12,000	$12,000	$12,000	$12,000
Ryan Cooley	$8,000	—	$4,000	$4,000	$4,000	$4,000

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Statement of Revenue

Part VIII

Program service revenue$56K · 96%

Investment income$3K · 4%

Program service revenue96%$56K

Investment income4%$3K

Total revenueLn 12$58K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising

Allocation · columns B–D

95%

Program services $0.95 Management & general $0.05

Program services95%$49K

Management & general5%$2K

Total functional expensesLn 25$52K

Balance Sheet

Part X · end of year

CashLn 1$190K

Total assetsLn 16$2.1M

Total liabilitiesLn 26$0

Total net assetsLn 32$2.1M

Months of cash on handcomputed43.9

Financial Metrics

Form 990 · FY2020 · each ratio shown with the dollars behind it

Liquidity & Payout

Operating runway

Highly liquid reserves $200K · Operating expenses/yr $52K

46.2 months

Where the money goes

Program services

Program services $49K · Total expenses $52K

95%

Management & General

Management & general $2K · Total expenses $52K

Fundraising

Fundraising $0 · Total expenses $52K

Cost to raise $1

Fundraising expense $0 · Solicited contributions $0

Solicited contributions below reporting floor

Where the money comes from

Contribution dependence

Contributions & grants $0 · Total revenue $58K

Government reliance

Government grants — · Total revenue $58K

—

Earned-income share

Program service revenue $56K · Total revenue $58K

96%

Investment reliance

Investment income $3K · Total revenue $58K

+4%

Program self-sufficiency

Program service revenue $56K · Total expenses $52K

107%

Growth & trend

Revenue growth (YoY)

This year $58K · Prior year —

No prior year on file

Net-asset trend (YoY)

End of year $2.1M · Beginning of year —

Beginning net assets not meaningfully positive — showing dollar change

Balance sheet

Surplus Margin

Revenue $58K · Expenses $52K

+11%

Liabilities-to-Assets

Total liabilities — · Total assets $2.1M

—

Net-asset ratio

Net assets $2.1M · Total assets $2.1M

100%

Marketable Investment Share

Publicly traded securities (Pt X, ln 11) $10K · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $2.1M

People & payroll

Highest Reported Total Compensation

Individual Ronald Cooley · Reported title TREASURER/SE · Highest reported compensation $12K · Total expenses $52K

23%

Personnel share

Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $52K

—

Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

Metric	This org	Peer median	Percentile
Program ratio	95%	—	—
Overhead ratio	5%	—	—
Legal fee ratio	1%	—	—
Accounting fee ratio	4%	—	—

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

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Filings & Schedule Manifest

Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

FY2025 (Latest)$50K revenue · ⤓ 990 PDF

FY2024$39K revenue · ⤓ 990 PDF

FY2023$48K revenue · ⤓ 990 PDF

FY2022$14K revenue · ⤓ 990 PDF

FY2021$402K revenue · ⤓ 990 PDF

FY2020$58K revenue · viewing · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings

Form 990 e-file (XML) · FY2020IRS

Classification, formation year, addressIRS Business Master File

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