Civic Intelligence

Professional Liability Foundation Ltd

990 • Fiscal year 2021 • EIN 04-3267680

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 11, 2022

Organization ProfileN/A
860 Winter StreetWaltham, MA 02451

(781) 982-9143

Siviq Scores

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

Liabilities / Assets

60th percentile

0.02x

Higher debt load relative to assets than 60% of similar nonprofits.

2021 filings • 501(c)6 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

64th percentile

0.04x

Higher debt load relative to revenue than 64% of similar nonprofits.

2021 filings • 501(c)6 • <$500k nonprofits • Source year 2021

Net Margin

70th percentile

21%

Higher net margin than 70% of similar nonprofits.

2021 filings • 501(c)6 • <$500k nonprofits • Source year 2021

Top Officer Pay

91st percentile

$70,000

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 48.3% of source-year revenue.

2021 filings • 501(c)6 • <$500k nonprofits • Source year 2021

Asset Growth

58th percentile

12%

Faster asset growth than 58% of similar nonprofits.

2021 filings • 501(c)6 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

51st percentile

3.6%

Faster revenue growth than 51% of similar nonprofits.

2021 filings • 501(c)6 • <$500k nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets60th percentile

Assets

Up

$233,723

Up $24,824 (+12%) from 2020

Net Assets

Up

$228,073

Up $30,324 (+15%) from 2020

Liabilities

Down

$5,650

Down $5,500 (-49%) from 2020

Revenue And Expenses
Liabilities / Revenue64th percentileNet Margin70th percentile

Revenue

Up

$145,011

Up $4,988 (+3.6%) from 2020

Expenses

Down

$114,687

Down $12,517 (-9.8%) from 2020

Net Income

Up

$30,324

Up $17,505 (+137%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth58th percentile

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

$400K$300K$200K$100K$0Assets 2010: $338,106Liabilities 2010: $5,000Net Assets 2010: $333,1062010Assets 2011: $261,872Liabilities 2011: $40,500Net Assets 2011: $221,3722011Assets 2012: $279,404Liabilities 2012: $33,011Net Assets 2012: $246,3932012Assets 2013: $211,946Liabilities 2013: $10,506Net Assets 2013: $201,4402013Assets 2014: $227,129Liabilities 2014: $11,006Net Assets 2014: $216,1232014Assets 2015: $164,421Liabilities 2015: $5,500Net Assets 2015: $158,9212015Assets 2016: $187,830Liabilities 2016: $11,000Net Assets 2016: $176,8302016Assets 2017: $207,047Liabilities 2017: $5,500Net Assets 2017: $201,5472017Assets 2018: $201,008Liabilities 2018: $5,500Net Assets 2018: $195,5082018Assets 2019: $190,579Liabilities 2019: $5,650Net Assets 2019: $184,9292019Assets 2020: $208,899Liabilities 2020: $11,150Net Assets 2020: $197,7492020Assets 2021: $233,723Liabilities 2021: $5,650Net Assets 2021: $228,0732021Assets 2022: $254,990Liabilities 2022: $11,400Net Assets 2022: $243,5902022Assets 2023: $278,556Liabilities 2023: $11,900Net Assets 2023: $266,6562023Assets 2024: $291,841Liabilities 2024: $6,650Net Assets 2024: $285,1912024

Highlighted filing

2021

Assets$233,723
Liabilities$5,650
Net Assets$228,073
Open 2021 Filing

Operations Trend

Revenue Growth51st percentile

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

$200K$100K$0-$100KExpenses 2010: $125,7082010Expenses 2011: $112,0202011Expenses 2012: $125,1892012Revenue 2013: $75,117Expenses 2013: $120,070Net Income 2013: -$44,9532013Revenue 2014: $150,036Expenses 2014: $135,353Net Income 2014: $14,6832014Revenue 2015: $75,036Expenses 2015: $132,238Net Income 2015: -$57,2022015Revenue 2016: $150,014Expenses 2016: $132,105Net Income 2016: $17,9092016Revenue 2017: $150,042Expenses 2017: $125,325Net Income 2017: $24,7172017Revenue 2018: $140,028Expenses 2018: $146,067Net Income 2018: -$6,0392018Revenue 2019: $135,009Expenses 2019: $145,588Net Income 2019: -$10,5792019Revenue 2020: $140,023Expenses 2020: $127,204Net Income 2020: $12,8192020Revenue 2021: $145,011Expenses 2021: $114,687Net Income 2021: $30,3242021Revenue 2022: $145,012Expenses 2022: $129,495Net Income 2022: $15,5172022Revenue 2023: $145,012Expenses 2023: $121,946Net Income 2023: $23,0662023Revenue 2024: $145,008Expenses 2024: $126,473Net Income 2024: $18,5352024

Highlighted filing

2021

Revenue$145,011
Expenses$114,687
Net Income$30,324
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 11, 2022
Return Version
2021v4.2
Gross Receipts
$145,011
Mission and Program Overview

Mission

NONE

Advocate reform of the current tort law system as it affects medical service providers, reform ins. System and improve conditions for medical providers.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$108,231$148,242▲ $40,011
Cash and Non-Interest-Bearing Accounts$94,650$79,363▼ $15,287
Accounts Receivable$5,000$5,000→ $0
Prepaid Expenses and Deferred Charges$1,018$1,118▲ $100
Land, Buildings, and Equipment, Net$0$0→ $0
Total Assets$208,899$233,723▲ $24,824
Liabilities
Other Liabilities$11,000$5,500▼ $5,500
Accounts Payable and Accrued Expenses$150$150→ $0
Total Liabilities$11,150$5,650▼ $5,500
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$197,749$228,073▲ $30,324
Total Net Assets Fund Balance$197,749$228,073▲ $30,324
Total Liabilities and Net Assets / Fund Balance$208,899$233,723▲ $24,824

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$0$1,570$1,570
Compensation and Service Providers
Top Officer Pay91st percentile

Employees

NameTitleFull / Part TimeBaseTotal
Edward Brennan JrExecutive DirectorFT$70,000$70,000

Board Members and Trustees

NameTitle
Elizabeth CushingChairman
Stephanie ShepsVice Chairman
Timothy E SlowickSecretary
Charles AlageroTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$145,000
Program Service Revenue
$0
Investment Income
$11
Other Revenue
$0
Change in Net Assets
$30,324

Audited Revenue Reconciliation

Revenue per Audited Statements
$145,011
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$145,011
Total Revenue per Form 990
$145,011
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$70,000
Other Expenses$44,687
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Comp Disqual Persons---$70,000
Fees for Services Lobbying---$35,000
Fees for Services Legal---$6,988
Fees for Services Other---$375
Other Expenses---$147
Total Functional Expenses$0$0$0$114,687

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$114,687
Total Expenses per Audited Statements$114,687
Total Expenses per Form 990$114,687
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Professional Fees$5,500
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
No
Business relationship with 35% controlled entity
No
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
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 B, Line 11B

“The tax preparer e-mails a copy of the 990 to the treasurer for his review and approval. The treasurer looks it over and after review and discussion of pertinent issues with the tax preparer the return is filed.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents available at it's office by appointment”

Filing and Contact Details

Filer

Filer Name
Professional Liability Foundation Ltd
EIN
04-3267680
Phone
7819829143
Address
860 WINTER STREET, WALTHAM, MA 02451

Signing Officer

Name
Edward Brennan Jr
Title
Executive Director
Phone
7819829143
Signed
2022-11-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Edward J Brennan
Formed
1995
Legal Domicile
Ma
Voting Board Members
15
Independent Board Members
15
Employees
0
Volunteers
0

Preparer

Firm
Wald & Company Pc
Address
300 CONGRESS STREET UNIT 406, QUINCY, MA 02169
Preparer
John P Fahey
Phone
6174390600
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“Fin 48 footnote: the organization is a not-for-profit organization that is exempt from federal income taxes under section 501 (c)(6) of the internal revenue code. It pays state tax on interest earned. The financial accounting standards board ("fasb") issued interpretation("fin") no. 48, "accounting for uncertainty in income taxes," as codified by the fasb accounting standards codification ("asc") topic 740; subtopic 10 requires all taxpayers to analyze all material positions they have taken or plan to take in all tax returns that have been filed or should have been filed with all taxing authorities for all years still subject to challenge by those taxing authorities. If the position taken is "more-likely-than-not" to be sustained by the taxing authority on its technical merits and if there is more than a 50% likelihood that the position would be sustained if challenged and considered by the highest court in the relevant jurisdiction, the tax consequences of that position should be reflected in the taxpayer's gaap financial statements. No positions taken, including the organizations tax exempt status, meet or exceed the "more likely than not" standard and thus are not reflected in these financial statements.”

Raw XML Appendix299 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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0FIN 48 FOOTNOTE: THE ORGANIZATION IS A NOT-FOR-PROFIT ORGANIZATION THAT IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501 (C)(6) OF THE INTERNAL REVENUE CODE. IT PAYS STATE TAX ON INTEREST EARNED. THE FINANCIAL ACCOUNTING STANDARDS BOARD ("FASB") ISSUED INTERPRETATION("FIN") NO. 48, "ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES," AS CODIFIED BY THE FASB ACCOUNTING STANDARDS CODIFICATION ("ASC") TOPIC 740; SUBTOPIC 10 REQUIRES ALL TAXPAYERS TO ANALYZE ALL MATERIAL POSITIONS THEY HAVE TAKEN OR PLAN TO TAKE IN ALL TAX RETURNS THAT HAVE BEEN FILED OR SHOULD HAVE BEEN FILED WITH ALL TAXING AUTHORITIES FOR ALL YEARS STILL SUBJECT TO CHALLENGE BY THOSE TAXING AUTHORITIES. IF THE POSITION TAKEN IS "MORE-LIKELY-THAN-NOT" TO BE SUSTAINED BY THE TAXING AUTHORITY ON ITS TECHNICAL MERITS AND IF THERE IS MORE THAN A 50% LIKELIHOOD THAT THE POSITION WOULD BE SUSTAINED IF CHALLENGED AND CONSIDERED BY THE HIGHEST COURT IN THE RELEVANT JURISDICTION, THE TAX CONSEQUENCES OF THAT POSITION SHOULD BE REFLECTED IN THE TAXPAYER'S GAAP FINANCIAL STATEMENTS. NO POSITIONS TAKEN, INCLUDING THE ORGANIZATIONS TAX EXEMPT STATUS, MEET OR EXCEED THE "MORE LIKELY THAN NOT" STANDARD AND THUS ARE NOT REFLECTED IN THESE FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE TAX PREPARER E-MAILS A COPY OF THE 990 TO THE TREASURER FOR HIS REVIEW AND APPROVAL. THE TREASURER LOOKS IT OVER AND AFTER REVIEW AND DISCUSSION OF PERTINENT ISSUES WITH THE TAX PREPARER THE RETURN IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AVAILABLE AT IT'S OFFICE BY APPOINTMENT
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
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IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt011
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0145011
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0208899
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0233723
IRS990/TotReportableCompRltdOrgAmt00
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IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt080 WASHINGTON STREET SUITE O-53
IRS990/USAddress/CityNm0NORWELL
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd002061
IRS990/VotingMembersGoverningBodyCnt015
IRS990/VotingMembersIndependentCnt015
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0EDWARD BRENNAN JR
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum07819829143
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-11-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PROFESSIONAL LIABILITY FOUNDATION LTD
ReturnHeader/Filer/BusinessNameControlTxt0PROF
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ReturnHeader/Filer/PhoneNum07819829143
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0WALD & COMPANY PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0300 CONGRESS STREET UNIT 406
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0QUINCY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd002169
ReturnHeader/PreparerPersonGrp/PhoneNum06174390600
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOHN P FAHEY
ReturnHeader/ReturnTs02022-11-11T07:48:20-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0EDWARD
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0BRENNAN JR
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$233,723
Liabilities
$5,650
Net assets
$228,073
Revenue
$145,011
Expenses
$114,687
Net income
$30,324
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.92$0.07$2.85$1.45$1.26$0.19
2023Detailed filing. Detailed filing data is available for this year.$2.79$0.12$2.67$1.45$1.22$0.23
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.55$0.11$2.44$1.45$1.29$0.16
2021Detailed filing. Detailed filing data is available for this year.$2.34$0.06$2.28$1.45$1.15$0.30
2020Detailed filing. Detailed filing data is available for this year.$2.09$0.11$1.98$1.40$1.27$0.13
2019Detailed filing. Detailed filing data is available for this year.$1.91$0.06$1.85$1.35$1.46$0.11
2018Detailed filing. Detailed filing data is available for this year.$2.01$0.06$1.96$1.40$1.46$0.06
2017Detailed filing. Detailed filing data is available for this year.$2.07$0.06$2.02$1.50$1.25$0.25
2016Detailed filing. Detailed filing data is available for this year.$1.88$0.11$1.77$1.50$1.32$0.18
2015Detailed filing. Detailed filing data is available for this year.$1.64$0.06$1.59$0.75$1.32$0.57
2014Detailed filing. Detailed filing data is available for this year.$2.27$0.11$2.16$1.50$1.35$0.15
2013Detailed filing. Detailed filing data is available for this year.$2.12$0.11$2.01$0.75$1.20$0.45
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.79$0.33$2.46$1.25
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.62$0.41$2.21$1.12
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.38$0.05$3.33$1.26