Civic Intelligence

Iris Network

990 • Fiscal year 2015 • EIN 01-0196359

Oct 01, 2014 to Sep 30, 2015 • Filed on Aug 10, 2016

189 Park AvenuePortland, ME 04102

(207) 774-6273

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

67th percentile

0.29x

Higher debt load relative to assets than 67% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

70th percentile

0.32x

Higher debt load relative to revenue than 70% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

86th percentile

33%

Higher net margin than 86% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

73rd percentile

$108,132

Higher top officer pay than 73% of similar nonprofits.

Top officer pay equals 3.1% of source-year revenue.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

94th percentile

85%

Faster asset growth than 94% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

86th percentile

40%

Faster revenue growth than 86% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Assets

Up

$3,933,031

Up $1,805,804 (+85%) from 2014

Net Assets

Up

$2,806,216

Up $1,144,273 (+69%) from 2014

Liabilities

Up

$1,126,815

Up $661,531 (+142%) from 2014

Revenue

Up

$3,526,202

Up $1,002,271 (+40%) from 2014

Expenses

Down

$2,365,928

Down $268,208 (-10%) from 2014

Net Income

Up

$1,160,274

Up $1,270,479 (+1153%) from 2014

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$15M$10M$5.0M$0Assets 2011: $2,256,424Liabilities 2011: $263,821Net Assets 2011: $1,992,6032011Assets 2012: $2,143,555Liabilities 2012: $351,948Net Assets 2012: $1,791,6072012Assets 2013: $2,110,397Liabilities 2013: $309,641Net Assets 2013: $1,800,7562013Assets 2014: $2,127,227Liabilities 2014: $465,284Net Assets 2014: $1,661,9432014Assets 2015: $3,933,031Liabilities 2015: $1,126,815Net Assets 2015: $2,806,2162015Assets 2016: $3,651,782Liabilities 2016: $1,035,037Net Assets 2016: $2,616,7452016Assets 2017: $3,543,639Liabilities 2017: $1,100,297Net Assets 2017: $2,443,3422017Assets 2018: $3,346,926Liabilities 2018: $1,162,507Net Assets 2018: $2,184,4192018Assets 2019: $3,275,731Liabilities 2019: $1,292,762Net Assets 2019: $1,982,9692019Assets 2020: $2,916,602Liabilities 2020: $927,029Net Assets 2020: $1,989,5732020Assets 2021: $3,265,341Liabilities 2021: $717,360Net Assets 2021: $2,547,9812021Assets 2022: $9,166,873Liabilities 2022: $1,782,251Net Assets 2022: $7,384,6222022Assets 2023: $9,430,770Liabilities 2023: $1,819,398Net Assets 2023: $7,611,3722023Assets 2024: $10,418,592Liabilities 2024: $1,801,274Net Assets 2024: $8,617,3182024

Highlighted filing

2015

Assets$3,933,031
Liabilities$1,126,815
Net Assets$2,806,216

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2011: $2,354,237Expenses 2011: $2,442,478Net Income 2011: -$88,2412011Expenses 2012: $2,440,4802012Revenue 2013: $2,452,997Expenses 2013: $2,479,257Net Income 2013: -$26,2602013Revenue 2014: $2,523,931Expenses 2014: $2,634,136Net Income 2014: -$110,2052014Revenue 2015: $3,526,202Expenses 2015: $2,365,928Net Income 2015: $1,160,2742015Revenue 2016: $2,555,201Expenses 2016: $2,742,852Net Income 2016: -$187,6512016Revenue 2017: $2,483,286Expenses 2017: $2,661,655Net Income 2017: -$178,3692017Revenue 2018: $2,471,182Expenses 2018: $2,732,117Net Income 2018: -$260,9352018Revenue 2019: $2,129,847Expenses 2019: $2,327,927Net Income 2019: -$198,0802019Revenue 2020: $2,225,295Expenses 2020: $2,232,190Net Income 2020: -$6,8952020Revenue 2021: $2,683,947Expenses 2021: $2,161,446Net Income 2021: $522,5012021Revenue 2022: $7,149,596Expenses 2022: $2,223,409Net Income 2022: $4,926,1872022Revenue 2023: $2,596,794Expenses 2023: $2,399,939Net Income 2023: $196,8552023Revenue 2024: $3,227,535Expenses 2024: $2,560,151Net Income 2024: $667,3842024

Highlighted filing

2015

Revenue$3,526,202
Expenses$2,365,928
Net Income$1,160,274
Jump To
Filing Snapshot
Filing Period
Oct 1, 2014 to Sep 30, 2015
Signed
Aug 10, 2016
Return Version
2014v6.0
Gross Receipts
$3,853,064
Mission and Program Overview

Mission

The iris network helps people who are visually impaired or blind attain independence and community integration.

To help people who are visually impaired or blind attain independence and community integration.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$979,796$2,862,764▲ $1,882,968
Investments in Publicly Traded Securities$393,679$368,839▼ $24,840
Cash and Non-Interest-Bearing Accounts$255$271,657▲ $271,402
Accounts Receivable$85,226$118,866▲ $33,640
Other Notes and Loans Receivable, Net$100,970$101,055▲ $85
Pledges and Grants Receivable$72,689$66,875▼ $5,814
Savings and Temporary Cash Investments$410,797$62,175▼ $348,622
Inventories for Sale or Use$31,434$31,053▼ $381
Prepaid Expenses and Deferred Charges$28,232$30,175▲ $1,943
Investments Other Securities$24,149$19,572▼ $4,577
Total Assets$2,127,227$3,933,031▲ $1,805,804
Liabilities
Mortgage Notes Payable Secured by Investment Property$158,291$871,933▲ $713,642
Accounts Payable and Accrued Expenses$209,943$153,077▼ $56,866
Deferred Revenue$90,000$95,000▲ $5,000
Other Liabilities$7,050$6,805▼ $245
Total Liabilities$465,284$1,126,815▲ $661,531
Net Assets / Fund Balance
Unrestricted Net Assets$1,133,745$2,422,672▲ $1,288,927
Temporarily Rstr Net Assets$341,280$193,075▼ $148,205
Permanently Rstr Net Assets$186,918$190,469▲ $3,551
Total Net Assets Fund Balance$1,661,943$2,806,216▲ $1,144,273
Total Liabilities and Net Assets / Fund Balance$2,127,227$3,933,031▲ $1,805,804

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$1,672,121$506,416$2,178,537
Buildings$1,156,944$651,813$1,808,757
Land$31,824-$31,824
Equipment$1,875$18,625$20,500

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$410,778-▼ $8,472$20,700$381,606
2014$728,360$81,040▲ $72,004$470,626$410,778
2013$685,082$11,923▲ $69,270$37,915$728,360
2012$633,860$2,750▲ $82,510$34,038$685,082
2011$697,123-▼ $54,914$8,349$633,860
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
James Phipps Mba JdPresidentFT$100,211$7,921$108,132
Stephen TraboldAssistant TreasurerFT$78,680$2,066$80,746
Aparna ShahAssistant SecretaryPT$33,940$4,444$38,384

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$1,666,953
Program Service Revenue
$1,723,364
Investment Income
$52,064
Other Revenue
$83,821
All Other Contributions
$437,745
Change in Net Assets
$1,160,274

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,526,202
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$40,445
Total Revenue per Audited Statements
$3,566,647
Total Revenue per Form 990
$3,526,202
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,893,851
Other Expenses$472,077
Total Fundraising Expense$225,596
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,174,304$132,785$118,094$1,425,183
Current Officers, Directors, Trustees, and Key Employees$197,026$21,991$19,432$238,449
Payroll Taxes$118,741$12,465$12,247$143,453
Other Employee Benefits$76,629$5,986$4,151$86,766
Conferences and Meetings$79,994$5,535$933$86,462
Occupancy$51,493$9,838$5,767$67,098
Depreciation Depletion$46,569$17,552$2,119$66,240
Fees for Services Other$31,560$15,425$15,507$62,492
All Other Expenses$20,291$18,184$5,715$44,190
Other Expenses$17,916$3,923$686$22,525
Office Expenses$1,549$173$15,491$17,213
Interest-$10,245-$10,245
Total Functional Expenses$1,883,887$256,445$225,596$2,365,928

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,422,374
Expenses per Audited Statements$2,365,928
Total Expenses per Form 990$2,365,928
Expenses Not Reported on Form 990$56,446
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$51,823
Fundraising Direct Expenses$14,922
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
White Cane Walk$25,145$25,145$7,899$17,246
Parking Revenue$20,881$20,881$5,218$15,663
Total Events$51,823$51,823$14,922$36,901
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Compensation$6,805
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11

The 990 is prepared with information from the organization's finance director by the agency's audit firm, and a draft is reviewed and discussed by the finance director and the executive director. Once approved by management, the draft 990 is circulated for review and comment by the finance committee and the full board of directors. Any changes to the return resulting from this review are incorporated in the 990 before filing.

Form 990, Part VI, Section B, Line 12C

At the first regular directors' meeting following the annual meeting of the board of directors, the conflict of interest policy is reviewed by the board of directors and each director is asked to disclose any interest giving rise to a conflict of interest within the meaning of the conflict of interest policy. Each director is requested to sign a form disclosing any conflicts of interest or disclosing that there are no conflicts of interest. Directors not in attendance are asked to complete this form by e-mail.

Form 990, Part VI, Section B, Line 15

Compensation arrangements are approved in advance and based on information about compensation paid by similarly situated taxable or tax-exempt organizations for similar services, current compensation surveys compiled by independent firms, or actual written offers from similarly situated organizations. The date and terms of the approved compensation arrangements shall be documented in writing. If compensation will exceed $90,000 annually, or if the compensated person is an officer, director, or a person who has contributed more than $5,000 to the corporation and the amount of said contribution exceeds 2% of the total contributions ever received by the corporation, then the following practices shall be observed in all cases. The decision of each director who voted on any compensation arrangement shall be recorded in the minutes of the meeting where such action was taken and the minutes of meetings at which compensation arrangements are approved shall identify both the information upon which the board of directors relied to base its decision and the source of that information.

Form 990, Part VI, Section C, Line 19

All governing documents including the bylaws of the organization, the conflict of interest policy, and the audited financial statements are made available to the public upon request.

Filing and Contact Details

Filer

Filer Name
The Iris Network
EIN
01-0196359
Phone
2077746273
Address
189 PARK AVENUE, PORTLAND, ME 04102

Signing Officer

Name
James Phipps Mbajd
Title
President & Executive Director
Phone
2077746273
Signed
2016-08-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
James Phipps Mbajd
Formed
1905
Legal Domicile
Me
Voting Board Members
12
Independent Board Members
11
Employees
64
Volunteers
30

Preparer

Firm
Albin Randall & Bennett
Address
PO BOX 445 130 MIDDLE STREET, PORTLAND, ME 04112-0445
Preparer
Jason C Leblanc
Phone
2077721981
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

The process for independent auditor selection and oversight of the audit did not change from the prior year.

Financial Statement Notes

PART V, LINE 4:

Income generated is used to fund operations.

PART X, LINE 2:

The organization is a not-for-profit corporation as described in section 501(c)(3) of the internal revenue code and is exempt from federal and state income taxes. The organization does not believe they are subject to unrelated business income tax during the current year or previous years; therefore, they have not filed unrelated business income tax returns.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Inventory cost of sales 41,524. Special events costs 14,922.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Inventory cost of sales 41,524. Special events costs 14,922.

Raw XML AppendixShowing 400 of 646 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7CHAIR OF THE BOARD
IRS990/Form990PartVIISectionAGrp/TitleTxt8PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt9SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt10TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt11VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt12ASSISTANT TREASURER
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IRS990/ProgSrvcAccomActy2Grp/Desc0ASSISTED LIVING PROGRAM: THE IRIS NETWORK PROVIDES ASSISTED LIVING SERVICES TO CERTAIN VISUALLY IMPAIRED OR BLIND RESIDENTS OF IRIS PARK APARTMENTS. IRIS PARK APARTMENTS FEATURES (30) ONE AND TWO BEDROOM INDEPENDENT LIVING APARTMENTS WHICH ARE SEPARATELY OWNED BUT MANAGED BY THE IRIS NETWORK. VISUALLY IMPAIRED OR BLIND TENANTS ARE ABLE TO LIVE AS INDEPENDENTLY AS THEY DESIRE, SCHEDULE THEIR OWN ACTIVITIES, AND CREATE A PERSONAL PLAN FOR ASSISTED LIVING SERVICES. THE IRIS NETWORK OFFERS VISION REHABILITATION THERAPY TO PROVIDE TENANTS SUPPORT IN ALL AREAS OF INDEPENDENT LIVING.
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IRS990/ProgSrvcAccomActy2Grp/RevenueAmt0278597
IRS990/ProgSrvcAccomActy3Grp/Desc0LOW-VISION CLINIC PROGRAM: THE LOW-VISION CLINIC PROVIDES VISUALLY IMPAIRED PERSONS WITH THE SKILLS AND TOOLS TO BETTER UTILIZE THEIR REMAINING VISION. AFTER A LOW-VISION EXAMINATION, AN OPHTHALMOLOGIST OR OPTOMETRIST DEVELOPS A SPECIALIZED TREATMENT PROGRAM FOR EACH CLIENT ADMINISTERED BY AN OCCUPATIONAL THERAPIST WITH SPECIALIZED TRAINING IN LOW-VISION SERVICES. THE PROGRAM HELPS INDIVIDUALS MAXIMIZE THE USE OF THEIR REMAINING VISION BY TRAINING EACH CLIENT IN THE SKILLS REQUIRED TO USE OPTICAL AIDS AND EQUIPMENT SUCH AS MAGNIFIERS TO READ THE NEWSPAPER, TELESCOPES TO FOCUS ON DISTANT SIGNS, AND LIGHT-FILTERED LENSES TO REDUCE GLARE.
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IRS990/ProgSrvcAccomActy3Grp/RevenueAmt083370
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IRS990ScheduleA/TotalSupportAmt01922407

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$10.4$1.80$8.62$3.23$2.56$0.67
2023Detailed filing. Detailed filing data is available for this year.$9.43$1.82$7.61$2.60$2.40$0.20
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.17$1.78$7.38$7.15$2.22$4.93
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.27$0.72$2.55$2.68$2.16$0.52
2020Detailed filing. Detailed filing data is available for this year.$2.92$0.93$1.99$2.23$2.23$0.01
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.28$1.29$1.98$2.13$2.33$0.20
2018Detailed filing. Detailed filing data is available for this year.$3.35$1.16$2.18$2.47$2.73$0.26
2017Detailed filing. Detailed filing data is available for this year.$3.54$1.10$2.44$2.48$2.66$0.18
2016Detailed filing. Detailed filing data is available for this year.$3.65$1.04$2.62$2.56$2.74$0.19
2015Detailed filing. Detailed filing data is available for this year.$3.93$1.13$2.81$3.53$2.37$1.16
2014Detailed filing. Detailed filing data is available for this year.$2.13$0.47$1.66$2.52$2.63$0.11
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.11$0.31$1.80$2.45$2.48$0.03
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.14$0.35$1.79$2.44
2011Summary only. Only limited summary data is available for this year.$2.26$0.26$1.99$2.35$2.44$0.09
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2015 filings • 501(c)3 • $1M-$5M nonprofits