Civic Intelligence

Foundation for Continuing Education Inc.

990 • Fiscal year 2023 • EIN 04-2629472

Nov 01, 2022 to Oct 31, 2023 • Filed on Mar 04, 2024

Organization ProfileFCE.org
PO Box 458 64 Pleasant StreetWenham, MA 01984

(978) 468-6528

Siviq Scores

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

Liabilities / Assets

72nd percentile

0.26x

Higher debt load relative to assets than 72% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

96th percentile

4.45x

Higher debt load relative to revenue than 96% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

75th percentile

20%

Higher net margin than 75% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

40th percentile

1.2%

Faster asset growth than 40% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets72nd percentile

Assets

Up

$1,013,172

Up $11,815 (+1.2%) from 2022

Net Assets

Up

$754,011

Up $11,815 (+1.6%) from 2022

Liabilities

Flat

$259,161

Flat from 2022

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin75th percentile

Revenue

Up

$58,213

Up $77,146 (+407%) from 2022

Expenses

Up

$46,398

Up $18,663 (+67%) from 2022

Net Income

Up

$11,815

Up $58,483 (+125%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth40th percentile

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

$1.5M$1.0M$500K$0Assets 2011: $886,929Liabilities 2011: $551,802Net Assets 2011: $335,1272011Assets 2012: $1,051,007Liabilities 2012: $551,802Net Assets 2012: $499,2052012Assets 2013: $1,043,458Liabilities 2013: $550,940Net Assets 2013: $492,5182013Assets 2014: $1,086,475Liabilities 2014: $550,940Net Assets 2014: $535,5352014Assets 2015: $1,104,311Liabilities 2015: $550,940Net Assets 2015: $553,3712015Assets 2016: $808,931Liabilities 2016: $265,548Net Assets 2016: $543,3832016Assets 2017: $798,715Liabilities 2017: $265,548Net Assets 2017: $533,1652017Assets 2018: $770,900Liabilities 2018: $265,548Net Assets 2018: $505,3522018Assets 2019: $778,905Liabilities 2019: $259,161Net Assets 2019: $519,7442019Assets 2020: $828,543Liabilities 2020: $259,161Net Assets 2020: $569,3962020Assets 2021: $1,048,024Liabilities 2021: $259,161Net Assets 2021: $788,8632021Assets 2022: $1,001,357Liabilities 2022: $259,161Net Assets 2022: $742,1962022Assets 2023: $1,013,172Liabilities 2023: $259,161Net Assets 2023: $754,0112023Assets 2024: $999,732Liabilities 2024: $259,161Net Assets 2024: $740,5712024

Highlighted filing

2023

Assets$1,013,172
Liabilities$259,161
Net Assets$754,011
Open 2023 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$300K$200K$100K$0-$100KRevenue 2011: $199,028Expenses 2011: $80,821Net Income 2011: $118,2072011Revenue 2012: $219,396Expenses 2012: $55,318Net Income 2012: $164,0782012Revenue 2013: $57,502Expenses 2013: $64,189Net Income 2013: -$6,6872013Revenue 2014: $112,680Expenses 2014: $69,663Net Income 2014: $43,0172014Revenue 2015: $86,170Expenses 2015: $68,334Net Income 2015: $17,8362015Revenue 2016: $56,474Expenses 2016: $66,462Net Income 2016: -$9,9882016Revenue 2017: $41,580Expenses 2017: $51,798Net Income 2017: -$10,2182017Revenue 2018: $22,936Expenses 2018: $50,749Net Income 2018: -$27,8132018Revenue 2019: $62,974Expenses 2019: $48,582Net Income 2019: $14,3922019Revenue 2020: $84,689Expenses 2020: $35,037Net Income 2020: $49,6522020Revenue 2021: $242,195Expenses 2021: $22,728Net Income 2021: $219,4672021Revenue 2022: -$18,933Expenses 2022: $27,735Net Income 2022: -$46,6682022Revenue 2023: $58,213Expenses 2023: $46,398Net Income 2023: $11,8152023Revenue 2024: $62,692Expenses 2024: $76,141Net Income 2024: -$13,4492024

Highlighted filing

2023

Revenue$58,213
Expenses$46,398
Net Income$11,815
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Nov 1, 2022 to Oct 31, 2023
Signed
Mar 4, 2024
Return Version
2022v5.0
Gross Receipts
$58,213
Mission and Program Overview

Mission

Conducts Seminars, Workshops, meetings, training events, team building activities, provides program materials to the professional business community including the Massachusetts Law Libraries and cooperates with organizations such as theUS SBANE, IRS, MASS DOR, and professional societies to provide awareness of tax,legal,and other issues of importanceto the Business, Tax and Legal communities.

Conducts Seminars, Workshops, meetings, training events, team building activities & provides program materials to the Professional Business community including the Massachusetts Law Libraries.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$587,675$595,260▲ $7,585
Loans From Officers Directors$259,161$259,161→ $0
Savings and Temporary Cash Investments$219,220$219,220→ $0
Investments in Publicly Traded Securities$163,126$163,126→ $0
Cash and Non-Interest-Bearing Accounts$24,383$28,613▲ $4,230
Rtn Earn Endowment Incm Other Fnds$-46,668$11,825▲ $58,493
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$1,001,357$1,013,172▲ $11,815
Other Assets Total$6,953$6,953→ $0
Liabilities
Total Liabilities$259,161$259,161→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$742,196$754,011▲ $11,815
Total Liabilities and Net Assets / Fund Balance$1,001,357$1,013,172▲ $11,815

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$326,488-$286,488
Land$259,903-$159,903
Equipment$8,869$196,617-
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Richard Solano CPAPres. Treas & Director
Earle Solano EsqSec/Clerk & Director
Revenue and Support

Revenue Composition

Contributions and Grants
$7,000
Program Service Revenue
$51,213
Investment Income
$0
Other Revenue
$0
All Other Contributions
$7,000
Change in Net Assets
$11,815
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$46,398
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$20,030$3,535-$23,565
Fees for Services Management$3,400$600-$4,000
Depreciation Depletion$2,698$476-$3,174
Insurance$1,493$264-$1,757
Other Expenses$1,309$231-$1,540
Information Technology$1,175$207-$1,382
Fees for Services Accounting$705$125-$830
Office Expenses$302$53-$355
Advertising$255$45-$300
Total Functional Expenses$39,438$6,960$0$46,398
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
Loans from Officers, Directors, Trustees, and Key Employees$259,161$259,161→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with 35% controlled entity
No
Business relationship with family members
Yes
Business relationship with organization members
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 2

“Code 1: Two of the Directors of the organization are related: The Father is a CPA and the Son is a Lawyer The Father is a Director and the President and Treasurer of the organization. The Son is a Director and Secretary of the organization. Administrative Services are provided by a management company owned by the Presidents wife, She performs Registration of attendees at programs, data base management and correspondence with Tax,Lawyers,and CPA's, etc. Payments for these services are usually billed at $800 per month. They are extremely reasonable and approved annually by the full BOD. Total payment of $4,00.00 was made during fiscal year 11/1/22-10/31/23.”

Form 990, Part VI, Section B, line 11B

“Code 11: Each year the Board of Directors reviews the Form 990 before it is filed along with the Tax Exempt information filed with the Town.”

Form 990, Part VI, Section C, line 19

“The organization makes its governing documents, etc. avilable to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Foundation for Continuing Education Inc
EIN
04-2629472
Phone
9784686528
Address
PO Box 458 64 Pleasant Street, Wenham, MA 01984

Signing Officer

Name
Richard Solano
Title
President
Phone
9784686528
Signed
2024-03-04

Organization Details

Principal Officer
Richard Solano
Formed
1977
Legal Domicile
Ma
Voting Board Members
2
Independent Board Members
0
Employees
0
Volunteers
0
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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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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0The organization purchases Administrative services from Lemso, Inc at the rate of $800 per month As required. The amount paid for services are deemed extremely reasonable and at arms length.$4,000.00 total payments were made in fiscal Y/E 10/31/23.Administrative Services are approved on an annual basis by the Board of Directors.
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt0259161
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd01
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0Mortgage
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt0588373
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0Richard Solano
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0President/Treasurer/Director
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd01
IRS990ScheduleL/TotalBalanceDueAmt0259161
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Code 1: Two of the Directors of the organization are related: The Father is a CPA and the Son is a Lawyer The Father is a Director and the President and Treasurer of the organization. The Son is a Director and Secretary of the organization. Administrative Services are provided by a management company owned by the Presidents wife, She performs Registration of attendees at programs, data base management and correspondence with Tax,Lawyers,and CPA's, etc. Payments for these services are usually billed at $800 per month. They are extremely reasonable and approved annually by the full BOD. Total payment of $4,00.00 was made during fiscal year 11/1/22-10/31/23.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Code 11: Each year the Board of Directors reviews the Form 990 before it is filed along with the Tax Exempt information filed with the Town.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The organization makes its governing documents, etc. avilable to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, line 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01001357
IRS990/TotalAssetsEOYAmt01013172
IRS990/TotalAssetsGrp/BOYAmt01001357
IRS990/TotalAssetsGrp/EOYAmt01013172
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt07000
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt06960
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt039438
IRS990/TotalFunctionalExpensesGrp/TotalAmt046398
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0259161
IRS990/TotalLiabilitiesEOYAmt0259161
IRS990/TotalLiabilitiesGrp/BOYAmt0259161
IRS990/TotalLiabilitiesGrp/EOYAmt0259161
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0742196
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0754011
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt039438
IRS990/TotalProgramServiceRevenueAmt051213
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt051213
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt058213
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01001357
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01013172
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt064 Pleasant St
IRS990/USAddress/CityNm0WENHAM
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd001984
IRS990/VotingMembersGoverningBodyCnt02
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0FCE.org
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/PersonNm0Richard Solano
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/PhoneNum09784686528
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-03-04
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Foundation for Continuing Education Inc
ReturnHeader/Filer/BusinessNameControlTxt0FOUN
ReturnHeader/Filer/EIN0042629472
ReturnHeader/Filer/PhoneNum09784686528
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO Box 458 64 Pleasant Street
ReturnHeader/Filer/USAddress/CityNm0Wenham
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MA
ReturnHeader/Filer/USAddress/ZIPCd001984
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/ReturnTs02024-03-04T11:16:20-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Richard
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Solano
ReturnHeader/TaxPeriodBeginDt02022-11-01
ReturnHeader/TaxPeriodEndDt02023-10-31
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,013,172
Liabilities
$259,161
Net assets
$754,011
Revenue
$58,213
Expenses
$46,398
Net income
$11,815
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.00$0.26$0.74$0.06$0.08$0.01
2023Detailed filing. Detailed filing data is available for this year.$1.01$0.26$0.75$0.06$0.05$0.01
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.00$0.26$0.74$0.02$0.03$0.05
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.05$0.26$0.79$0.24$0.02$0.22
2020Summary only. Only limited summary data is available for this year.$0.83$0.26$0.57$0.08$0.04$0.05
2019Summary only. Only limited summary data is available for this year.$0.78$0.26$0.52$0.06$0.05$0.01
2018Summary only. Only limited summary data is available for this year.$0.77$0.27$0.51$0.02$0.05$0.03
2017Summary only. Only limited summary data is available for this year.$0.80$0.27$0.53$0.04$0.05$0.01
2016Summary only. Only limited summary data is available for this year.$0.81$0.27$0.54$0.06$0.07$0.01
2015Summary only. Only limited summary data is available for this year.$1.10$0.55$0.55$0.09$0.07$0.02
2014Summary only. Only limited summary data is available for this year.$1.09$0.55$0.54$0.11$0.07$0.04
2013Summary only. Only limited summary data is available for this year.$1.04$0.55$0.49$0.06$0.06$0.01
2012Summary only. Only limited summary data is available for this year.$1.05$0.55$0.50$0.22$0.06$0.16
2011Summary only. Only limited summary data is available for this year.$0.89$0.55$0.34$0.20$0.08$0.12
Peer Organizations

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