Civic Intelligence

Ipswich Education Foundation Inc.

990 • Fiscal year 2019 • EIN 04-3290520

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 03, 2020

Organization ProfileIPSWICHEDFOUNDATION.ORG
PO Box 786Ipswich, MA 01938

(617) 755-9217

Siviq Scores

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

Liabilities / Assets

57th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

57th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Net Margin

1st percentile

-1133%

Higher net margin than 1% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Top Officer Pay

77th percentile

$0

Higher top officer pay than 77% of similar nonprofits.

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

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Asset Growth

35th percentile

-4.9%

Faster asset growth than 35% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

13th percentile

-39%

Faster revenue growth than 13% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets57th percentile

Assets

Down

$399,805

Down $20,605 (-4.9%) from 2018

Net Assets

Down

$399,805

Down $10,445 (-2.5%) from 2018

Liabilities

Down

$0

Down $10,160 (-100%) from 2018

Revenue And Expenses
Liabilities / Revenue57th percentileNet Margin1st percentile

Revenue

Down

$13,448

Down $8,592 (-39%) from 2018

Expenses

Up

$165,817

Up $107,186 (+183%) from 2018

Net Income

Down

-$152,369

Down $115,778 (-316%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth35th percentile

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

$600K$400K$200K$0Assets 2010: $126,048Liabilities 2010: $02010Assets 2011: $108,329Liabilities 2011: $02011Assets 2012: $165,819Liabilities 2012: $02012Assets 2013: $139,306Liabilities 2013: $02013Assets 2014: $146,981Liabilities 2014: $02014Assets 2015: $176,110Liabilities 2015: $0Net Assets 2015: $176,1102015Assets 2016: $280,390Liabilities 2016: $0Net Assets 2016: $280,3902016Assets 2017: $245,847Liabilities 2017: $0Net Assets 2017: $245,8472017Assets 2018: $420,410Liabilities 2018: $10,160Net Assets 2018: $410,2502018Assets 2019: $399,805Liabilities 2019: $0Net Assets 2019: $399,8052019Assets 2020: $363,331Liabilities 2020: $1,631Net Assets 2020: $361,7002020Assets 2021: $383,387Liabilities 2021: $0Net Assets 2021: $383,3872021Assets 2022: $334,973Liabilities 2022: $1,600Net Assets 2022: $333,3732022Assets 2023: $389,532Liabilities 2023: $3,138Net Assets 2023: $386,3942023Assets 2024: $379,556Liabilities 2024: $648Net Assets 2024: $378,9082024Assets 2025: $389,767Liabilities 2025: $0Net Assets 2025: $389,7672025

Highlighted filing

2019

Assets$399,805
Liabilities$0
Net Assets$399,805
Open 2019 Filing

Operations Trend

Revenue Growth13th percentile

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

$1.0M$500K$0-$500KRevenue 2010: $50,283Expenses 2010: $26,851Net Income 2010: $23,4322010Revenue 2011: $45,455Expenses 2011: $63,174Net Income 2011: -$17,7192011Revenue 2012: $160,981Expenses 2012: $103,491Net Income 2012: $57,4902012Revenue 2013: $71,133Expenses 2013: $97,646Net Income 2013: -$26,5132013Revenue 2014: $150,616Expenses 2014: $142,941Net Income 2014: $7,6752014Revenue 2015: $193,223Expenses 2015: $164,094Net Income 2015: $29,1292015Revenue 2016: $825,113Expenses 2016: $720,833Net Income 2016: $104,2802016Revenue 2017: $189,706Expenses 2017: $210,160Net Income 2017: -$20,4542017Revenue 2018: $22,040Expenses 2018: $58,631Net Income 2018: -$36,5912018Revenue 2019: $13,448Expenses 2019: $165,817Net Income 2019: -$152,3692019Revenue 2020: $20,417Expenses 2020: $65,866Net Income 2020: -$45,4492020Revenue 2021: $73,208Expenses 2021: $54,125Net Income 2021: $19,0832021Revenue 2022: $114,675Expenses 2022: $154,336Net Income 2022: -$39,6612022Revenue 2023: $132,213Expenses 2023: $85,106Net Income 2023: $47,1072023Revenue 2024: $53,949Expenses 2024: $65,496Net Income 2024: -$11,5472024Revenue 2025: $77,171Expenses 2025: $73,580Net Income 2025: $3,5912025

Highlighted filing

2019

Revenue$13,448
Expenses$165,817
Net Income-$152,369
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 3, 2020
Return Version
2019v5.1
Gross Receipts
$13,448
Mission and Program Overview

Mission

Provide funds for the support of the Ipswich public school system.

Provide funds for charitable educational and other public purposes for the support of the ipswich public school systems.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$136,691$331,645▲ $194,954
Receivables From Officers Etc$224,335$0▼ $224,335
Investments in Publicly Traded Securities$59,384$68,160▲ $8,776
Total Assets$420,410$399,805▼ $20,605
Liabilities
Accounts Payable and Accrued Expenses$10,160--
Total Liabilities$10,160$0▼ $10,160
Net Assets / Fund Balance
Net Assets With Donor Restrictions$137,717$353,197▲ $215,480
Net Assets Without Donor Restrictions$272,533$46,608▼ $225,925
Total Net Assets Fund Balance$410,250$399,805▼ $10,445
Total Liabilities and Net Assets / Fund Balance$420,410$399,805▼ $20,605

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$137,717-▲ $8,937-$68,160
2018$155,969-▲ $1,625$19,877$137,717
2017$113,877$40,509▲ $1,583-$155,969
2016$54,952$58,463▲ $462-$113,877
2015$53,175-▲ $1,777-$54,952
Compensation and Service Providers
Top Officer Pay77th percentile

Board Members and Trustees

NameTitle
Steve KingPresident/director
Jon ElderVice President/director
Amy BorgmanDirector
David MooraddDirector
Kimberly MavroidesDirector
Shawn CayerDirector
Steve KrauseDirector
Regina KingTreasurer/secretary/director
Revenue and Support

Revenue Composition

Contributions and Grants
$9,377
Program Service Revenue
$0
Investment Income
$4,021
Other Revenue
$50
All Other Contributions
$1,200
Change in Net Assets
$-152,369
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$163,033
Other Expenses$2,784
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$163,033--$163,033
Fees for Services Accounting-$2,400-$2,400
Advertising-$295-$295
Office Expenses-$89-$89
Total Functional Expenses$163,033$2,784$0$165,817
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Doug Woodworth Scholarship FundIpswich, MA501c3Scholarship Support-
Ipswich Public SchoolIpswich, MATown of IpswichGeneral Support.-
University of MassachusettsLowell, MA501c3Scholarship Support-
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
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 Officers, Directors, Trustees, and Key Employees$224,335$0▼ $224,335
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
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

“Form 990 is reviewed by the president and treasurer prior to being filed. Other members of the governing body do not review the form prior to being filed.”

FORM 990, PAGE 6, PART VI, SECTION B POLICIES: LINES 12, 13 AND 14

“The board of directors are currently evaluating the appropriate conflict of interest policy, whistleblower policy and document retention and destruction policy for the organization.”

Form 990, Part VI, Section C, Line 18

“The organziation makes its form 990 available for public inspection as required under section 6104 of the internal revenue code upon request; guidestar.org; mass. Attorney gernal website -http://www.charities.ago.state.ma.us/charities/ and other similar types of websites.”

Form 990, Part VI, Section C, Line 19

“The organziation makes its form 990 available for public inspection as required under section 6104 of the internal revenue code upon request; guidestar.org; mass. Attorney gernal website -http://www.charities.ago.state.ma.us/charities/ and other similar types of websites. In addition, forms 990 and 1023 as well as the financial statements are available upon written request or by calling the organization”

Filing and Contact Details

Filer

Filer Name
Ipswich Education Foundation Inc
EIN
04-3290520
Phone
6177559217
Address
PO BOX 786, IPSWICH, MA 01938

Signing Officer

Name
Steve King
Title
President
Phone
6177559217
Signed
2020-11-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Steve King
Formed
1995
Legal Domicile
Ma
Voting Board Members
8
Independent Board Members
8
Employees
0
Volunteers
8

Preparer

Firm
JOHNSON O'CONNOR FERON & CARUCCI LLP
Address
101 EDGEWATER DRIVE SUITE 210, WAKEFIELD, MA 01880
Preparer
Giso Joseph
Phone
7819143400
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Misc. Adjustments -5,200.”

Raw XML AppendixShowing 400 of 419 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/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt0155969
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt01583
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IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt0113877
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IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt1125093
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt25000
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IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1DOUG WOODWORTH SCHOLARSHIP FUND
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2UNIVERSITY OF MASSACHUSETTS
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IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt137 BIRCH LANE
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt2220 PAWTUCKET ST
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION DOES NOT MONITOR THE USE OF GRANT FUNDS. THE FUNDS ARE PROVIDED TO THE IPSWICH PUBLIC SCHOOL SYSTEM WHICH CLOSELY MONITORS ALL GRANT FUNDS FOR THEIR INTENDED PURPOSES.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 IS REVIEWED BY THE PRESIDENT AND TREASURER PRIOR TO BEING FILED. OTHER MEMBERS OF THE GOVERNING BODY DO NOT REVIEW THE FORM PRIOR TO BEING FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF DIRECTORS ARE CURRENTLY EVALUATING THE APPROPRIATE CONFLICT OF INTEREST POLICY, WHISTLEBLOWER POLICY AND DOCUMENT RETENTION AND DESTRUCTION POLICY FOR THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANZIATION MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE UPON REQUEST; GUIDESTAR.ORG; MASS. ATTORNEY GERNAL WEBSITE -HTTP://WWW.CHARITIES.AGO.STATE.MA.US/CHARITIES/ AND OTHER SIMILAR TYPES OF WEBSITES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANZIATION MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE UPON REQUEST; GUIDESTAR.ORG; MASS. ATTORNEY GERNAL WEBSITE -HTTP://WWW.CHARITIES.AGO.STATE.MA.US/CHARITIES/ AND OTHER SIMILAR TYPES OF WEBSITES. IN ADDITION, FORMS 990 AND 1023 AS WELL AS THE FINANCIAL STATEMENTS ARE AVAILABLE UPON WRITTEN REQUEST OR BY CALLING THE ORGANIZATION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4MISC. ADJUSTMENTS -5,200.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, SECTION B POLICIES: LINES 12, 13 AND 14
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9:
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IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalEmployeeCnt00
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Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$399,805
Liabilities
$0
Net assets
$399,805
Revenue
$13,448
Expenses
$165,817
Net income
-$152,369
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$3.90$0.00$3.90$0.77$0.74$0.04
2024Detailed filing. Detailed filing data is available for this year.$3.80$0.01$3.79$0.54$0.65$0.12
2023Detailed filing. Detailed filing data is available for this year.$3.90$0.03$3.86$1.32$0.85$0.47
2022Detailed filing. Detailed filing data is available for this year.$3.35$0.02$3.33$1.15$1.54$0.40
2021Detailed filing. Detailed filing data is available for this year.$3.83$0.00$3.83$0.73$0.54$0.19
2020Detailed filing. Detailed filing data is available for this year.$3.63$0.02$3.62$0.20$0.66$0.45
2019Detailed filing. Detailed filing data is available for this year.$4.00$0.00$4.00$0.13$1.66$1.52
2018Detailed filing. Detailed filing data is available for this year.$4.20$0.10$4.10$0.22$0.59$0.37
2017Detailed filing. Detailed filing data is available for this year.$2.46$0.00$2.46$1.90$2.10$0.20
2016Summary only. Only limited summary data is available for this year.$2.80$0.00$2.80$8.25$7.21$1.04
2015Summary only. Only limited summary data is available for this year.$1.76$0.00$1.76$1.93$1.64$0.29
2014Summary only. Only limited summary data is available for this year.$1.47$0.00$1.51$1.43$0.08
2013Summary only. Only limited summary data is available for this year.$1.39$0.00$0.71$0.98$0.27
2012Summary only. Only limited summary data is available for this year.$1.66$0.00$1.61$1.03$0.57
2011Summary only. Only limited summary data is available for this year.$1.08$0.00$0.45$0.63$0.18
2010Summary only. Only limited summary data is available for this year.$1.26$0.00$0.50$0.27$0.23