2023-08-31T13:36:47-05:00 2022-12-31 351307701 KRUGGEL LAWTON & COMPANY LLC 526 UPTON DRIVE ST JOSEPH MI 49085 990 2022-01-01 383367429 RENAISSANCE DEVELOPMENT FUND RENA 2699256100 201 GRAHAM AVENUE BENTON HARBOR MI 49022 ROB CLEVELAND VICE PRESIDENT 2697570201 2023-08-24 1 ROB CLEVELAND 999009999 1 ROBERT ALEX SCHAEFFER P01439018 2699830131 2023-08-22 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z X ROB CLEVELAND 201 GRAHAM AVENUE BENTON HARBOR MI 49022 2833765 0 X N/A X 1997 MI THE RENAISSANCE DEVELOPMENT FUND IS ENGAGED IN THE DEVELOPMENT AND IMPLEMENTATION OF ECONOMIC GROWTH FOR THE CITIES OF BENTON HARBOR AND ST. JOSEPH AND THE TOWNSHIPS OF BENTON, LINCOLN, AND ROYALTON. 7 6 0 6 0 0 0 0 445167 498043 669 8484 2381539 2236648 2827375 2743175 0 0 0 0 0 0 0 0 0 3516294 2820695 3516294 2820695 -688919 -77520 26943889 22142034 32965079 32345602 -6021190 -10203568 X THE ORGANIZATION, PARTNERING WITH THE CORNERSTONE ALLIANCE, ENGAGES IN THE DEVELOPMENT OF ECONOMIC GROWTH FOR THE CITIES OF BENTON HARBOR AND ST. JOSEPH AND THE TOWNSHIPS OF BENTON, LINCOLN, AND ROYALTON. 0 0 1742297 2062408 RENAISSANCE DEVELOPMENT FUND IS ENGAGED IN THE DEVELOPMENT AND IMPLEMENTATION OF ECONOMIC GROWTH FOR THE CITIES OF BENTON HARBOR, MICHIGAN AND ST. JOSPEH, MICHIGAN; THE CHARTER TOWNSHIPS OF BENTON, ST. JOSEPH, AND LINCOLN; AND THE TOWNSHIP OF ROYALTON. THE ORGANIZATION'S PRINCIPAL PURPOSE IS TO FOSTER REDEVELOPMENT AND REVITALIZATION OF BLIGHTED REAL PROPERTY AND THE REMEDIATION OF ENVIRONMENTAL CONTAMINATION, AND TO SPONSOR AS WELL AS FUND PROGRAMS THAT WILL HELP THE DISADVANTAGED IN THESE CITIES.IN CONNECTION WITH ITS MISSION TO DEVELOP AND IMPLEMENT ECONOMIC GROWTH IN ITS SERVICE AREA, THE ORGANIZATION PROVIDES LOANS TO LOCAL SMALL BUSINESS OWNERS. THESE NOTES RECEIVABLES ARE PERIODICALLY EVALUATED FOR COLLECTABILITY BASED ON PAST CREDIT HISTORY WITH CUSTOMERS AND THEIR CURRENT FINANCIAL CONDITION. PROVISIONS FOR LOSSES ON NOTES RECEIVABLE ARE DETERMINED ON THE BASIS OF LOSS EXPERIENCE, KNOWN AND INHERENT RISKS IN THE LOANS HELD, THE ESTIMATED VALUE OF UNDERLYING COLLATERAL, IF ANY, AND CURRENT ECONOMIC CONDITIONS. 1742297 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 7 6 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 0 MI X THE ORGANIZATION 2699256100 201 GRAHAM AVENUE BENTON HARBOR MI 49022 ROBERT CLEVELAND VICE PRESIDENT/TREASURER 10.00 40.00 X X 0 262776 0 ALAN BERRY PRESIDENT 1.00 X X 0 0 0 KEN ANKLI DIRECTOR 1.00 X 0 0 0 DAVID BLY DIRECTOR 1.00 X 0 0 0 STEPHANIE SCOTT-SIMS DIRECTOR 1.00 X 0 0 0 STACEY STEPHENS DIRECTOR 1.00 X 0 0 0 KIM VINCENT DIRECTOR 1.00 X 0 0 0 0 262776 0 0 0 1 0 EVERGREEN DEVELOPMENT COMPANY 400 RIVERVIEW DR BENTON HARBOR MI 49022 MANAGEMENT SERVICES 258918 1 LOAN INTEREST AND FEES 900099 498043 498043 498043 8484 8484 26460 0 26460 26460 26460 605977 90590 515387 515387 TIF REIMBURSEMENT INCO 900099 1537905 1537905 MISCELLANEOUS INCOME 900099 156896 156896 1694801 2743175 2062408 0 680767 X 364674 364674 41197 41197 16210 16210 292143 292143 74270 74270 167218 21640 145578 228420 228420 1359860 1359860 79784 50000 29784 43853 43853 PROPERTY DEVELOPMENT 82377 82377 MISCELLANEOUS AND OTHER 60689 60689 BAD DEBT EXPENSE 10000 10000 2820695 1742297 1078398 0 4483249 3140851 407771 424396 379227 652136 5158 33215 17875139 197943 21668484 17677196 0 214240 26943889 22142034 337292 522675 32578710 31820027 49077 2900 32965079 32345602 X -6253277 -10203568 232087 0 -6021190 -10203568 26943889 22142034 -77520 -4104858 0 X X 0 1 X 1 0 X X 1 CORNERSTONE ALLIANCE 382772476 7 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 PART IV, SECTION C, LINE 1: SINCE ITS INCEPTION, RENAISSANCE DEVELOPMENT FUND HAS WORKED CLOSELY WITH CORNERSTONE ALLIANCE TO FULFILL THEIR STRONGLY-ALIGNED MISSIONS. RENAISSANCE DEVELOPMENT FUND'S OPERATIONS ARE WHOLLY DEPENDENT ON CORNERSTONE ALLIANCE. SPECIFICALLY, THE ENTITY DOES NOT HAVE ITS OWN EMPLOYEES - ALL TASKS ARE COMPLETED BY EMPLOYEES OF THE SUPPORTED ORGANIZATION. ADDITIONALLY, THE ORGANIZATIONS SHARE COMMON DAY-TO-DAY MANAGEMENT, AS THE SAME OFFICERS SUPERVISE/OPERATE EACH ENTITY. THE PURPOSES OF BOTH ORGANIZATIONS ARE ALIGNED IN THE ARTICLES OF INCORPORATION, AND THE INTENT FOR RENAISSANCE DEVELOPMENT FUND TO BE A SUPPORTING ORGANIZATION TO CORNERSTONE ALLIANCE IS CLEAR WITHIN THESE ARTICLES. 14668190 14668190 3198799 197943 3000856 8150 8150 17677196 SECURITY DEPOSIT 2900 2900 X 2833175 90000 90000 2743175 0 2743175 2910695 90000 90000 2820695 0 2820695 PART X, LINE 2: THE ORGANIZATION IS A NON-FOR-PROFIT CORPORATION AND ITS TAX EXEMPT FROM UNDER THE PROVISIONS OF INTERNAL REVENUE CODE SECTION 501 (C)(3). ACCORDINGLY, CONTRIBUTIONS TO THE ORGANIZATION ARE DEDUCTIBLE BY THE DONOR FOR FEDERAL INCOME TAX PURPOSES. THE WHOLLY OWNED LLCS ARE DISREGARDED FOR TAX PURPOSES AND ARE COMBINED WITH THE TAX-EXEMPT ORGANIZATION. GAAP REQUIRES MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE ORGANIZATION AND RECOGNIZE A TAX LIABILITY IF THE ORGANIZATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE OR OTHER APPLICABLE TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE ORGANIZATION AND HAS CONCLUDED THAT, AS OF DECEMBER 31, 2021, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. 0 0 0 0 0 0 0 0 0 ROBERT CLEVELAND VICE PRESIDENT/TREASURER 0 262776 0 0 0 0 0 0 0 0 0 262776 0 0 FORM 990, PART VI, SECTION B, LINE 11B BOTH THE PRESIDENT OF THE ORGANIZATION AND THE ORGANIZATION'S ACCOUNTING CONSULTANT REVIEW THE DRAFT 990. AFTER THEIR REVIEW, MANAGEMENT OF THE ORGANIZATION EMAILS A DRAFT COPY OF THE FORM 990 TO ALL BOARD MEMBERS FOR THEIR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION OF THE ORGANIZATION'S OFFICERS IS DETERMINED BY THE RELATED ORGANIZATION FROM WHICH THEY ARE COMPENSATED. THE RELATED ORGANIZATION'S PROCESS IS AS FOLLOWS: COMPENSATION FOR THE PRESIDENT IS REVIEWED AND APPROVED BY THE COMPENSATION COMMITTEE. COMPENSATION COMMITTEE USES COMPARABLE DATA TO REVIEW PRESIDENT/CEO COMPENSATION. THE COMPENSATION FOR THE REMAINING OFFICERS AND KEY EMPLOYEES IS REVIEWED AND APPROVED BY THE PRESIDENT/CEO. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT AVAILABLE FOR PUBLIC INSPECTION. FINANCIAL STATEMENTS ARE SUMMARIZED IN AN ANNUAL REPORT WHICH IS AVAILABLE TO THE PUBLIC FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL SERVICES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 188,946. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 188,946. ENGINEERING AND CONSULTING FEES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 103,197. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 103,197. FORM 990, PART XII, LINE 2C: THE AUDIT OVERSIGHT AND SELECTION PROCESSES HAVE NOT CHANGED FROM THE PRIOR YEAR. HARBOR SHORES FINANCE LLC 400 RIVERVIEW DRIVE SUITE 420 BENTON HARBOR MI 49022 263368306 LENDING MI 0 87731 RENAISSANCE DEVELOPMENT FUND HARBOR SHORES COMMUNITY REDEVELOPMENT LLC 400 RIVERVIEW DRIVE SUITE 420 BENTON HARBOR MI 49022 263368308 ECONOMIC DEVELOPMENT MI 2318773 19797609 RENAISSANCE DEVELOPMENT FUND CORNERSTONE ALLIANCE 80 W MAIN ST BENTON HARBOR MI 49022 382772476 DEVELOPMENT OF ECONOMIC GROWTH IN THE CITY OF BENTON HARBOR MI 501(C)(3) LINE 7 N/A 0 CORNERSTONE PUBLIC ASSET FUND INC 80 W MAIN ST BENTON HARBOR MI 49022 464405437 DEVELOPMENT AND IMPLEMETNATION OF ECONOMIC GROWTH MI 501(C)(3) LINE 12A, I CORNERSTONE ALLIANCE 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0