Civic Intelligence

Underdog Foundation

990 • Fiscal year 2018 • EIN 03-0368814

Jan 01, 2018 to Dec 31, 2018 • Filed on May 15, 2019

Organization Profileunderdogventures.com/underdog-foundation
PO Box 443Island Pond, VT 05846

(802) 723-9909

Siviq Scores

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

Liabilities / Assets

35th percentile

0.03x

Higher debt load relative to assets than 35% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

68th percentile

0.25x

Higher debt load relative to revenue than 68% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

83rd percentile

28%

Higher net margin than 83% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

85th percentile

$160,978

Higher top officer pay than 85% of similar nonprofits.

Top officer pay equals 40.6% of source-year revenue.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

65th percentile

6.0%

Faster asset growth than 65% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

89th percentile

55%

Faster revenue growth than 89% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets35th percentile

Assets

Up

$3,728,382

Up $209,529 (+6.0%) from 2017

Net Assets

Up

$3,628,343

Up $109,529 (+3.1%) from 2017

Liabilities

Up

$100,039

Up $100,000 (+256410%) from 2017

Revenue And Expenses
Liabilities / Revenue68th percentileNet Margin83rd percentile

Revenue

Up

$396,970

Up $140,325 (+55%) from 2017

Expenses

Down

$287,441

Down $23,924 (-7.7%) from 2017

Net Income

Up

$109,529

Up $164,249 (+300%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth65th percentile

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

$6.0M$4.0M$2.0M$0Assets 2010: $4,697,481Liabilities 2010: $0Net Assets 2010: $4,697,4812010Assets 2011: $4,575,479Liabilities 2011: $0Net Assets 2011: $4,575,4792011Assets 2012: $4,470,086Liabilities 2012: $0Net Assets 2012: $4,470,0862012Assets 2013: $4,008,801Liabilities 2013: $1,877Net Assets 2013: $4,006,9242013Assets 2014: $3,814,954Liabilities 2014: $39Net Assets 2014: $3,814,9152014Assets 2015: $3,613,341Liabilities 2015: $28,276Net Assets 2015: $3,585,0652015Assets 2016: $3,573,573Liabilities 2016: $39Net Assets 2016: $3,573,5342016Assets 2017: $3,518,853Liabilities 2017: $39Net Assets 2017: $3,518,8142017Assets 2018: $3,728,382Liabilities 2018: $100,039Net Assets 2018: $3,628,3432018Assets 2019: $3,487,249Liabilities 2019: $39Net Assets 2019: $3,487,2102019Assets 2020: $3,207,650Liabilities 2020: $235Net Assets 2020: $3,207,4152020Assets 2021: $2,949,871Liabilities 2021: $400Net Assets 2021: $2,949,4712021Assets 2022: $459,402Liabilities 2022: $295Net Assets 2022: $459,1072022Assets 2023: $350,403Liabilities 2023: $295Net Assets 2023: $350,1082023Assets 2024: $359,403Liabilities 2024: $295Net Assets 2024: $359,1082024

Highlighted filing

2018

Assets$3,728,382
Liabilities$100,039
Net Assets$3,628,343
Open 2018 Filing

Operations Trend

Revenue Growth89th percentile

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

$500K$0-$500KExpenses 2010: $37,7072010Expenses 2011: $125,4912011Expenses 2012: $107,5222012Revenue 2013: -$204,358Expenses 2013: $258,804Net Income 2013: -$463,1622013Revenue 2014: $115,721Expenses 2014: $307,730Net Income 2014: -$192,0092014Revenue 2015: $23,341Expenses 2015: $253,191Net Income 2015: -$229,8502015Revenue 2016: $281,327Expenses 2016: $292,858Net Income 2016: -$11,5312016Revenue 2017: $256,645Expenses 2017: $311,365Net Income 2017: -$54,7202017Revenue 2018: $396,970Expenses 2018: $287,441Net Income 2018: $109,5292018Revenue 2019: $134,505Expenses 2019: $275,638Net Income 2019: -$141,1332019Revenue 2020: $12,433Expenses 2020: $292,228Net Income 2020: -$279,7952020Revenue 2021: $4,165Expenses 2021: $262,109Net Income 2021: -$257,9442021Revenue 2022: $6,873Expenses 2022: $243,681Net Income 2022: -$236,8082022Revenue 2023: $2,949Expenses 2023: $106,948Net Income 2023: -$103,9992023Revenue 2024: $95,753Expenses 2024: $86,753Net Income 2024: $9,0002024

Highlighted filing

2018

Revenue$396,970
Expenses$287,441
Net Income$109,529
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
May 15, 2019
Return Version
2018v3.1
Gross Receipts
$396,970
Mission and Program Overview

Mission

The Underdog Foundation ("the Foundation") works to meet community and environmental needs the cannot be met through simple investments. The interest areas of the Foundation are:- Environment and Conservation- Community Investment- Women's Entrepreneurship- International Community Investment and Community Development.The Foundation achieves its mission through grantmaking, community investments, technical assistance and strategic not-for-profit partnerships.

The Underdog Foundation ("the Foundation") through its grant making, community investment, technical assistance and strategic partnerships provides mentoring and technical expertise to support non-profit organizations doing important work in our communities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$2,291,204$2,430,529▲ $139,325
Savings and Temporary Cash Investments$1,008,685$955,569▼ $53,116
Cash and Non-Interest-Bearing Accounts$72,539$204,355▲ $131,816
Investments Program Related$125,000$125,000→ $0
Other Notes and Loans Receivable, Net$10,000$2,500▼ $7,500
Land, Buildings, and Equipment, Net$1,407$411▼ $996
Accounts Receivable-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$3,518,853$3,728,382▲ $209,529
Other Assets Total$10,018$10,018→ $0
Liabilities
Deferred Revenue-$100,000-
Accounts Payable and Accrued Expenses$39$39→ $0
Total Liabilities$39$100,039▲ $100,000
Net Assets / Fund Balance
Unrestricted Net Assets$3,518,814$3,628,343▲ $109,529
Total Net Assets Fund Balance$3,518,814$3,628,343▲ $109,529
Total Liabilities and Net Assets / Fund Balance$3,518,853$3,728,382▲ $209,529

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$411$2,576$2,987
Investment Program Related Org$125,000--
Compensation and Service Providers
Top Officer Pay85th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
David BergePresident/SecPT$138,000$22,978$160,978

Board Members and Trustees

NameTitle
Alisa GravitzChairman
Drummond PikeDirector
Joel SolomonDirector
Jean PoggeTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$389,325
Program Service Revenue
$0
Investment Income
$7,645
Other Revenue
$0
All Other Contributions
$389,325
Change in Net Assets
$109,529

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
Securities Closely Held Stock2$139,325Fair Market Value (FMV)
Total Noncash Contributions2$139,325-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$195,756
Other Expenses$86,685
Grants and Similar Amounts Paid$5,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$136,831$24,147-$160,978
Travel$32,269$5,694-$37,963
Other Salaries and Wages$14,161$2,499-$16,660
Payroll Taxes$9,721$1,716-$11,437
Other Employee Benefits$5,679$1,002-$6,681
Fees for Services Legal$4,467$788-$5,255
Grants to Domestic Orgs$5,000--$5,000
Fees for Services Other$4,170$736-$4,906
Fees for Services Accounting$3,515$620-$4,135
Occupancy$2,699$476-$3,175
All Other Expenses$1,508$266-$1,774
Office Expenses$1,460$258-$1,718
Other Expenses$1,278$225-$1,503
Depreciation Depletion$847$149-$996
Total Functional Expenses$245,076$42,365$0$287,441
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
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
Backup withholding compliance
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
No
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 11B: Form 990 Review Process

“The President reviews the Form 990 prior to filing. The Board discusses tax and financial issues during board meetings.”

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

“The Organization continually monitors compliance with the conflict of interest policy, and the Board is conscientious about conflict issues.”

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

“Board reviewed compensation arrangement, per the market for compensation, and legal counsel was also sought.”

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

“The Organization makes available to the public, upon request, governing documents, conflict of interest policy and financial statements.”

Additional Information - Schedule D Part VII

“Holdings in Underdog Ventures, LLC, RSF Social Investment Fund, Impact Makers, r. Cup, LLC and Maestro Conference are related to the charitable mission of Underdog Foundation and are not UBTI transactions.”

Filing and Contact Details

Filer

Filer Name
Underdog Foundation
EIN
03-0368814
Phone
8027239909
Address
PO Box 443, Island Pond, VT 05846

Signing Officer

Name
David Berge
Title
President/Sec
Signed
2019-05-15
Discuss with paid preparer
No

Organization Details

Principal Officer
David Berge
Formed
2001
Legal Domicile
Vt
Voting Board Members
5
Independent Board Members
4
Employees
2
Volunteers
4

Preparer

Firm
Fontanello Duffield & Otake LLP
Address
44 Montgomery Street Suite 1305, San Francisco, CA 94104
Preparer
Carol Duffield
Phone
4159830200
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IRS990/PrincipalOfficerNm0David Berge
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IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/SupportedOrgVoiceInvestmentInd0true
IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/TimelyProvidedDocumentsInd0true
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0Underdog Foundation provided a grant to Social Venture Network.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1David Berge, President, served as the managing member of Underdog Ventures LLC, and Underdog Foundation has an interest in Underdog Ventures LLC.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt2David Berge, President, served as the managing member of Underdog Ventures LLC. Underdog Foundation has an ownership interest, through contributed securities, in Underdog Ventures LLC.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt3A Tides Foundation appointed member participated as an active Board member in discussing the financials and participating in financial and investment decisions. The CEO of the Underdog Foundation met to discuss strategy with the Tides Foundation's CEO, CFO (multiple times), and program staff.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt4Substantially all the activities of the Underdog Foundation further the exempt purposes of the Tides Foundation through its community investment and community development work, its technical assistance to non-profits and social entrepreneurs, and its work with underserved entrepreneurs and communities.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt5Without the grantmaking, technical assistance and community investments of the Underdog Foundation, the Tides Foundation would have to increase its charitable footprint or decrease its charitable impact. The Underdog Foundation has worked with entrepreneurs through our community investing who have supported programs at and grants to the Tides Foundation.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0Part IV, Section A, Line 6: Description Of Grants Or Provided Benefits To Others
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc1Part IV, Section A, Line 9b: Disqualified Persons Holding Controlling Interest In Same Entity As Sup
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc2Part IV, Section A, Line 9c: Disqualified Persons Ownership Interest In Assets Of Same Entity As Sup
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc3Part IV, Section D, Line 3: Role The Organization's Supported Orgs. Played
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc4Part IV, Section E, Line 2a: Identify Supported Orgs. and Explain How Activities Furthered Exempt Pu
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc5Part IV, Section E, Line 2b: Reasons For The Organization's Position
IRS990ScheduleA/OtherSupportSumAmt00
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IRS990ScheduleA/SupportedOrganizationsTotalCnt01
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0Tides Foundation
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IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/DisclosedForCharitablePrpsInd0true
IRS990ScheduleD/DisclosedOrgLegCtrlInd0true
IRS990ScheduleD/DonorAdvisedFundsContriAmt072163
IRS990ScheduleD/DonorAdvisedFundsHeldCnt09
IRS990ScheduleD/DonorAdvisedFundsVlEOYAmt01925278
IRS990ScheduleD/EquipmentGrp/BookValueAmt0411
IRS990ScheduleD/EquipmentGrp/DepreciationAmt02576
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt02987
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt0125000
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0RSF Social Investment Fund
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0F
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0411
IRS990ScheduleD/TotalBookValueSecuritiesAmt02430529
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IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
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IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
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IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
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IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0138000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt020250
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt02728
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0David Berge
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0President/Sec
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0160978
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd0false
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd0false
IRS990ScheduleM/SecuritiesCloselyHeldStockGrp/ContributionCnt02
IRS990ScheduleM/SecuritiesCloselyHeldStockGrp/MethodOfDeterminingRevenuesTxt0FMV
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IRS990ScheduleM/SecuritiesCloselyHeldStockGrp/NoncashContributionsRptF990Amt0139325
IRS990ScheduleM/ThirdPartiesUsedInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The President reviews the Form 990 prior to filing. The Board discusses tax and financial issues during board meetings.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Organization continually monitors compliance with the conflict of interest policy, and the Board is conscientious about conflict issues.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Board reviewed compensation arrangement, per the market for compensation, and legal counsel was also sought.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Organization makes available to the public, upon request, governing documents, conflict of interest policy and financial statements.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Holdings in Underdog Ventures, LLC, RSF Social Investment Fund, Impact Makers, r. Cup, LLC and Maestro Conference are related to the charitable mission of Underdog Foundation and are not UBTI transactions.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Additional Information - Schedule D Part VII
IRS990ScheduleR/AssetExchangeInd0false
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IRS990ScheduleR/AssetSaleToOtherOrgInd0false
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0NA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0Tides Foundation
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0510198509
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(c)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0CA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0Philanthropy and Social Change
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0Line 7
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt01014 Torney Avenue
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0San Francisco
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0CA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd094129
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,728,382
Liabilities
$100,039
Net assets
$3,628,343
Revenue
$396,970
Expenses
$287,441
Net income
$109,529
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.36$0.00$0.36$0.10$0.09$0.01
2023Detailed filing. Detailed filing data is available for this year.$0.35$0.00$0.35$0.00$0.11$0.10
2022Detailed filing. Detailed filing data is available for this year.$0.46$0.00$0.46$0.01$0.24$0.24
2021Detailed filing. Detailed filing data is available for this year.$2.95$0.00$2.95$0.00$0.26$0.26
2020Detailed filing. Detailed filing data is available for this year.$3.21$0.00$3.21$0.01$0.29$0.28
2019Detailed filing. Detailed filing data is available for this year.$3.49$0.00$3.49$0.13$0.28$0.14
2018Detailed filing. Detailed filing data is available for this year.$3.73$0.10$3.63$0.40$0.29$0.11
2017Detailed filing. Detailed filing data is available for this year.$3.52$0.00$3.52$0.26$0.31$0.05
2016Detailed filing. Detailed filing data is available for this year.$3.57$0.00$3.57$0.28$0.29$0.01
2015Detailed filing. Detailed filing data is available for this year.$3.61$0.03$3.59$0.02$0.25$0.23
2014Detailed filing. Detailed filing data is available for this year.$3.81$0.00$3.81$0.12$0.31$0.19
2013Detailed filing. Detailed filing data is available for this year.$4.01$0.00$4.01$0.20$0.26$0.46
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.47$0.00$4.47$0.11
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.58$0.00$4.58$0.13
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.70$0.00$4.70$0.04