Civic Intelligence

Reaching U a Foundation for Uruguay

990 • Fiscal year 2019 • EIN 01-0599150

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 16, 2020

PO Box 490522Key Biscayne, FL 33149

(786) 252-2428

Siviq Scores

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

Liabilities / Assets

37th percentile

0.03x

Higher debt load relative to assets than 37% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

38th percentile

0.05x

Higher debt load relative to revenue than 38% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

27th percentile

-5.1%

Higher net margin than 27% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

51st percentile

$65,717

Higher top officer pay than 51% of similar nonprofits.

Top officer pay equals 8.9% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

26th percentile

-3.1%

Faster asset growth than 26% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

5th percentile

-49%

Faster revenue growth than 5% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Assets

Down

$1,163,874

Down $37,067 (-3.1%) from 2018

Net Assets

Down

$1,130,137

Down $37,982 (-3.3%) from 2018

Liabilities

Up

$33,737

Up $915 (+2.8%) from 2018

Revenue

Down

$742,057

Down $707,842 (-49%) from 2018

Expenses

Down

$780,039

Down $2,068,748 (-73%) from 2018

Net Income

Up

-$37,982

Up $1,360,906 (+97%) from 2018

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2010: $402,462Liabilities 2010: $1,000Net Assets 2010: $401,4622010Assets 2011: $421,859Liabilities 2011: $52,886Net Assets 2011: $368,9732011Assets 2012: $581,774Liabilities 2012: $27,066Net Assets 2012: $554,7082012Assets 2013: $736,946Liabilities 2013: $43,398Net Assets 2013: $693,5482013Assets 2014: $5,083,252Liabilities 2014: $116,473Net Assets 2014: $4,966,7792014Assets 2015: $2,238,830Liabilities 2015: $109,310Net Assets 2015: $2,129,5202015Assets 2016: $1,512,972Liabilities 2016: $87,588Net Assets 2016: $1,425,3842016Assets 2017: $2,666,170Liabilities 2017: $8,500Net Assets 2017: $2,657,6702017Assets 2018: $1,200,941Liabilities 2018: $32,822Net Assets 2018: $1,168,1192018Assets 2019: $1,163,874Liabilities 2019: $33,737Net Assets 2019: $1,130,1372019Assets 2020: $1,509,914Liabilities 2020: $62,883Net Assets 2020: $1,447,0312020Assets 2021: $2,486,348Liabilities 2021: $124,065Net Assets 2021: $2,362,2832021Assets 2022: $2,983,341Liabilities 2022: $202,097Net Assets 2022: $2,781,2442022Assets 2023: $2,760,037Liabilities 2023: $369,070Net Assets 2023: $2,390,9672023Assets 2024: $2,536,300Liabilities 2024: $237,991Net Assets 2024: $2,298,3092024

Highlighted filing

2019

Assets$1,163,874
Liabilities$33,737
Net Assets$1,130,137

Operations Trend

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

$10M$5.0M$0-$5.0MExpenses 2010: $269,4862010Expenses 2011: $370,9592011Expenses 2012: $436,6792012Revenue 2013: $621,003Expenses 2013: $482,163Net Income 2013: $138,8402013Revenue 2014: $5,348,537Expenses 2014: $1,075,306Net Income 2014: $4,273,2312014Revenue 2015: $1,522,301Expenses 2015: $4,359,560Net Income 2015: -$2,837,2592015Revenue 2016: $1,654,413Expenses 2016: $2,358,549Net Income 2016: -$704,1362016Revenue 2017: $4,529,452Expenses 2017: $3,297,166Net Income 2017: $1,232,2862017Revenue 2018: $1,449,899Expenses 2018: $2,848,787Net Income 2018: -$1,398,8882018Revenue 2019: $742,057Expenses 2019: $780,039Net Income 2019: -$37,9822019Revenue 2020: $1,190,453Expenses 2020: $873,559Net Income 2020: $316,8942020Revenue 2021: $1,912,051Expenses 2021: $996,769Net Income 2021: $915,2822021Revenue 2022: $1,825,484Expenses 2022: $1,406,448Net Income 2022: $419,0362022Revenue 2023: $1,181,951Expenses 2023: $1,616,780Net Income 2023: -$434,8292023Revenue 2024: $1,118,815Expenses 2024: $1,222,527Net Income 2024: -$103,7122024

Highlighted filing

2019

Revenue$742,057
Expenses$780,039
Net Income-$37,982
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 16, 2020
Return Version
2019v5.0
Gross Receipts
$937,605
Mission and Program Overview

Mission

The mission of reaching u is to promote initiatives and strengthen organizations that offer educational opportunities so that all uruguayans living in poverty can develop their full potential.

To promote initiatives and strengthen organizations that offer educational opportunities so that all uruguayans living in poverty can develop their full potential.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,103,791$1,090,850▼ $12,941
Accounts Receivable$95,650$73,024▼ $22,626
Prepaid Expenses and Deferred Charges$1,500$0▼ $1,500
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$1,200,941$1,163,874▼ $37,067
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$32,822$28,752▼ $4,070
Grants Payable-$4,985-
Total Liabilities$32,822$33,737▲ $915
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,137,171$1,066,189▼ $70,982
Net Assets With Donor Restrictions$30,948$63,948▲ $33,000
Total Net Assets Fund Balance$1,168,119$1,130,137▼ $37,982
Total Liabilities and Net Assets / Fund Balance$1,200,941$1,163,874▼ $37,067
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Fernanda GuliakExecutive DirectorFT$65,717$65,717

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$893,005
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$-150,948
All Other Contributions
$228,312
Change in Net Assets
$-37,982

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Works of Art39$137,305Auction Value
Clothing and Household Goods-$22,150Auction Value
Other Non Cash Contri Table54$16,850Auction Value
Other Non Cash Contri Table1$10,500Auction Value
Other Non Cash Contri Table18$7,090Auction Value
Other Non Cash Contri Table1$5,000Auction Value
Food Inventory-$2,663Fair Market Value (FMV)
Other Non Cash Contri Table7$985Auction Value
Total Noncash Contributions120$202,543-

Audited Revenue Reconciliation

Revenue per Audited Statements
$742,057
Revenue Not Reported on Form 990
$195,548
Total Revenue per Audited Statements
$937,605
Total Revenue per Form 990
$742,057
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$541,618
Salaries, Compensation, and Employee Benefits$195,748
Total Fundraising Expense$53,399
Other Expenses$42,673
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Foreign Grants$541,618--$541,618
Other Salaries and Wages$54,227$27,114$27,114$108,455
Current Officers, Directors, Trustees, and Key Employees$32,859$16,429$16,429$65,717
Payroll Taxes$10,788$5,394$5,394$21,576
Fees for Services Accounting-$15,196-$15,196
Fees for Services Other-$5,194-$5,194
Travel-$4,605-$4,605
Insurance$186$2,494$93$2,773
Advertising--$1,838$1,838
Other Expenses-$738$2,531$738
Office Expenses-$602-$602
All Other Expenses-$282-$282
Total Functional Expenses$639,678$86,962$53,399$780,039

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$975,587
Expenses per Audited Statements$780,039
Total Expenses per Form 990$780,039
Expenses Not Reported on Form 990$195,548
International Activity

International Summary

Offices
1
Employees
4
Spending
$826,714

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
South AmericaGrant to RecipientsSalaries and Related Costs00$541,618
South AmericaProgram ServicesTravel Expenses14$195,748
South AmericaFundraisingConsulting00$76,739
South AmericaProgram Services-00$4,744
South AmericaProgram ServicesBank Fees00$4,535
South AmericaProgram ServicesInsurance00$2,131
South AmericaProgram ServicesOthers00$828
South AmericaProgram Services-00$371
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$195,548
Fundraising Gross Income$44,600
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Montevideo Gala$161,516$24,100$34,242$-10,142
New York Gala$266,919$13,400$33,120$-19,720
Total Events$709,293$44,600$195,548$-150,948
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
Yes
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, Line 2: Description of Business or Family Relationship of Officers, Directors, Et

The Treasurer NICOLAS SEIGAL AND the board member ANA Ines BALSA ARE FAMILY MEMBERS.

Form 990, Part VI, Line 4: Description of Significant Changes to Organizational Documents

THE BY-LAWS OF REACHING U HAVE BEEN AMENDED AND RESTATED IN ORDER TO, AMONG OTHER THINGS, AND THE SIGNIFICANT CHANGES ARE AS FOLLOWS: Article II - Section 1. Powers and DutiesAddition of "(iv)Nominate new individuals as potential new members of the Board of Directors of the Corporation, subject to the election of the Board of Directors, as set forth herein".Article II - Section 3. Election and Term of OfficeDirectors shall be elected to hold office for a term of two years that ends on December 31st, and shall continue in office until his or her successor shall have been elected and qualified, or his or her death, resignation or removal. To become a Director, a person shall be nominated by a Director and elected with the affirmative vote of a majority of the Directors then in office. Directors may be elected and serve for any number of consecutive or non-consecutive terms.Article II - Section 5. RemovalRemoval of "duly convened".Article II - Section 7. Vacancies and Newly Created DirectorshipsRemoval of "duly convened".Article II - Section 8. MeetingsAddition of "The Board must meet at least twice a year". Article II - Section 9Removal of "with receipt confirmed".Article II - Section 10. Quorum and Voting.Removal of "duly convened".Article III - Section 1. Number and QualificationsRemoval of "duly convened".Article III - Section 2. Election and Term of OfficeThe Officers of the Corporation shall be elected with the affirmative vote of a majority of the Directors then in office for a term of two years that ends on December 31st , and each shall continue in office until his or her successor shall have been elected and qualified, or until his or her death, resignation or removal. The President of the Corporation may not serve or be elected to serve for two consecutive terms, although the President is allowed to serve without limitation for more than one term, as long as the terms are not consecutive.Article III - Section 3. Employees and Other AgentsRemoval of "duly convened".Article III - Section 4. RemovalRemoval of "duly convened".Article III - Section 5. VacanciesRemoval of "duly convened".Article III - Section 8. Secretary: Powers and DutiesAddition of "such as communicating with the Directors".Article III - Section 9. Treasurer: Powers and DutiesAddition of "investments and financial reserves of the Corporation".Article IV (a)Executive CommitteeAddition of "or electronic email" and removal of "with receipt confirmed".Article IV (b)Addition of "The Executive Committee shall inform the Board of Directors of material matters discussed and decided by them. Audit Committee. An Audit Committee which shall consist of at least three (3) Directors. The other members of the Audit Committee shall be appointed by the President, subject to the approval of the Board. The Audit Committee shall review and advise the Treasurer and the Board in regard to processes for investments, preparation of the annual budget, auditing of the financial statements of the Corporation, implementation and functioning of the internal control mechanisms and compliance with the Corporations policies", and removed of "duly convened and Finance Committee. A Finance Committee which shall consist of at least three (3) Directors, one of whom shall be the Treasurer who shall serve as President of such committee. The other members of the Finance Committee shall be appointed by the President, subject to the approval of the Board. The Finance Committee shall advise the Treasurer and the Board in regard to the investments and general fiscal policy of the Corporation".(b)At each meeting of the Executive Committee at least one-third of the members (including the President of the Board) of the entire Executive Committee but not less than two members (including the President of the Board) shall constitute a quorum. At any meeting of the Executive Committee at which a quorum is present, the affirmative vote of a majority of the members present at the time of the vote at a meet

Form 990, Part VI, Line 11B: Form 990 Review Process

The organization's Form 990 is reviewed and approved at board meetings before the documents are filed with the IRS.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

Reaching U's conflicts of interest policy is set forth in its bylaws. Board members and officers are aware of our conflicts of interest policy and the board members are reminded of it annually at a board meeting. On matters up for approval by the board of directors or its executive committee, a conflicted board member is required to recuse himself/herself.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

It is analyzed and approved by the board members during Board meetings.

Form 990, Part VI, Line 18: Explanation of Other Means Forms Available For Public Inspection

Reaching u's form 990 also available at www.guidestar.org.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

THE ORGaNIZATION'S AUDITED FINANCIAL STATEMENTS AS WELL AS Governing documents are made available to the public UPON WRITTEN REQUEST.

Filing and Contact Details

Filer

Filer Name
Reaching U a Foundation for Uruguay
EIN
01-0599150
Phone
7862522428
Address
PO BOX 490522, KEY BISCAYNE, FL 33149

Signing Officer

Name
Fernanda Guliak
Title
Executive Director
Signed
2020-11-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Fernanda Guliak
Formed
2001
Legal Domicile
Ny
Voting Board Members
14
Independent Board Members
14
Employees
0
Volunteers
100

Preparer

Firm
Gruber Palumberi Raffaele Fried CPAs PC
Address
7 Penn Plaza Suite 310, New York, NY 10001
Preparer
Robert L Manger
Phone
2125860800
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

Reaching U has adopted Accounting Standards Codification 740 ("ASC 740") "Income Taxes." ASC 740 requires that a tax position be recognized or derecognized based on a "more likely than not" threshold. This applies to positions taken or expected to be taken in a tax return. The implementation of ASC 740 did not have an impact on the foundation's tax-exempt status or on its financial statements. Reaching U currently has procedures in place to ensure the maintenance of its tax-exempt status. These include identifying and reporting unrelated business income, determining and meeting its filing and tax obligations in jurisdictions in which it operates. The organization's management does not believe its financial statements include any uncertain tax positions.Reaching U's Forms 990, Return of Organization Exempt for Income Tax, for the years ended December 31, 2016, 2017, and 2018, are subject to examination by the IRS, generally for three years after they were filed.

Part XI, Line 2D: Other revenue amounts included in F/S but not included on form 990

Fundraising events direct expenses $195548

Part XII, Line 2D: Other expenses and losses per audited F/S

Fundraising events direct expenses $195548

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IRS990/Form990PartVIISectionAGrp/TitleTxt1President
IRS990/Form990PartVIISectionAGrp/TitleTxt2Director
IRS990/Form990PartVIISectionAGrp/TitleTxt3Director
IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Vice President
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
IRS990/Form990PartVIISectionAGrp/TitleTxt9Director
IRS990/Form990PartVIISectionAGrp/TitleTxt10VP & Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt11Director
IRS990/Form990PartVIISectionAGrp/TitleTxt12Director
IRS990/Form990PartVIISectionAGrp/TitleTxt13Director
IRS990/Form990PartVIISectionAGrp/TitleTxt14Director
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IRS990/OtherExpensesGrp/Desc1BANK CHARGE & PROCESSING FEES
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt06
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IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus1YearAmt01069769

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.54$0.24$2.30$1.12$1.22$0.10
2023Detailed filing. Detailed filing data is available for this year.$2.76$0.37$2.39$1.18$1.62$0.43
2022Detailed filing. Detailed filing data is available for this year.$2.98$0.20$2.78$1.83$1.41$0.42
2021Detailed filing. Detailed filing data is available for this year.$2.49$0.12$2.36$1.91$1.00$0.92
2020Detailed filing. Detailed filing data is available for this year.$1.51$0.06$1.45$1.19$0.87$0.32
2019Detailed filing. Detailed filing data is available for this year.$1.16$0.03$1.13$0.74$0.78$0.04
2018Detailed filing. Detailed filing data is available for this year.$1.20$0.03$1.17$1.45$2.85$1.40
2017Detailed filing. Detailed filing data is available for this year.$2.67$0.01$2.66$4.53$3.30$1.23
2016Detailed filing. Detailed filing data is available for this year.$1.51$0.09$1.43$1.65$2.36$0.70
2015Detailed filing. Detailed filing data is available for this year.$2.24$0.11$2.13$1.52$4.36$2.84
2014Detailed filing. Detailed filing data is available for this year.$5.08$0.12$4.97$5.35$1.08$4.27
2013Detailed filing. Detailed filing data is available for this year.$0.74$0.04$0.69$0.62$0.48$0.14
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.58$0.03$0.55$0.44
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.42$0.05$0.37$0.37
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.40$0.00$0.40$0.27