Civic Intelligence

Ipswich Education Foundation Inc.

990 • Fiscal year 2018 • EIN 04-3290520

Jan 01, 2018 to Dec 31, 2018 • Filed on Jul 20, 2020

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

67th percentile

0.02x

Higher debt load relative to assets than 67% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Liabilities / Revenue

92nd percentile

0.46x

Higher debt load relative to revenue than 92% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Net Margin

3rd percentile

-166%

Higher net margin than 3% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2018

Asset Growth

89th percentile

71%

Faster asset growth than 89% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Revenue Growth

3rd percentile

-88%

Faster revenue growth than 3% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Assets

Up

$420,410

Up $174,563 (+71%) from 2017

Net Assets

Up

$410,250

Up $164,403 (+67%) from 2017

Liabilities

Up

$10,160

Up $10,160 from 2017

Revenue

Down

$22,040

Down $167,666 (-88%) from 2017

Expenses

Down

$58,631

Down $151,529 (-72%) from 2017

Net Income

Down

-$36,591

Down $16,137 (-79%) from 2017

Historical Trend

Balance Sheet Trend

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

2018

Assets$420,410
Liabilities$10,160
Net Assets$410,250

Operations Trend

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

2018

Revenue$22,040
Expenses$58,631
Net Income-$36,591
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Jul 20, 2020
Return Version
2018v3.2
Gross Receipts
$151,916
Mission and Program Overview

Mission

To provide funds for charitable educational and other puplic purposes for the support of the ipswich.

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

Balance Sheet Detail
LineBeginningEndChange
Assets
Receivables From Officers Etc$227,335$224,335▼ $3,000
Savings and Temporary Cash Investments$182,488$136,691▼ $45,797
Investments in Publicly Traded Securities$61,012$59,384▼ $1,628
Total Assets$470,835$420,410▼ $50,425
Liabilities
Accounts Payable and Accrued Expenses$20,675$10,160▼ $10,515
Total Liabilities$20,675$10,160▼ $10,515
Net Assets / Fund Balance
Unrestricted Net Assets$294,191$272,533▼ $21,658
Temporarily Rstr Net Assets$94,957$78,333▼ $16,624
Permanently Rstr Net Assets$61,012$59,384▼ $1,628
Total Net Assets Fund Balance$450,160$410,250▼ $39,910
Total Liabilities and Net Assets / Fund Balance$470,835$420,410▼ $50,425

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
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
2014$52,035-▲ $1,140-$53,175
Compensation and Service Providers

Board Members and Trustees

NameTitle
Steve KingPresident/director
Jon ElderVice-president/director
Amy BorgmanDirector
Ken SpellmanDirector
Shawn CayerDirector
Steve KrauseDirector
Regina KingSecretary/director
Kevin MurphyTreasurer/director
Revenue and Support

Revenue Composition

Contributions and Grants
$150,118
Program Service Revenue
$0
Investment Income
$1,798
Other Revenue
$-129,876
All Other Contributions
$18,620
Change in Net Assets
$-36,591
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$58,497
Other Expenses$134
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$58,497--$58,497
Office Expenses-$134-$134
Total Functional Expenses$58,497$134$0$58,631
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Ipswich Public SchoolIpswich, MATown of IpswichGeneral Support-
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$129,876
Fundraising Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Woodworth$107,854-$124,603-
Ipwich Sustainable Education$11,932-$3,940-
Total Events$131,498-$129,876$-129,876
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$227,335$224,335▼ $3,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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 POLICES: 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. In addition, forms 990 and 1023 as well as the financial statements are available upon written request or by calling the organization

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
2020-07-20
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
0

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:

Change in net assets -191.

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/CYMinus1YrEndwmtFundGrp/ContributionsAmt040509
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IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt01583
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt054952
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt058463
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt0113877
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0462
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt053175
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt054952
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt01777
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt052035
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt053175
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt01140
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct00.43120
IRS990ScheduleD/TermEndowmentBalanceEOYPct00.56880
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContributionsTotAmt0131498
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt0107854
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent2Amt011932
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriOtherEventsAmt011712
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt0129876
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0WOODWORTH
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0IPWICH SUSTAINABLE EDUCATION
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IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt011932
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsOtherEventsAmt011712
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt0131498
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt0-129876
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssOtherEventsAmt01333
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt0129876
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt0124603
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent2Amt03940
IRS990ScheduleG/FundraisingEventInformationGrp/OtherEventsTotalCnt03
IRS990ScheduleI/GrantRecordsMaintainedInd01
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IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt058497
IRS990ScheduleI/RecipientTable/NonCashAssistanceDesc0N/A
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0GENERAL SUPPORT
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0IPSWICH PUBLIC SCHOOL
IRS990ScheduleI/RecipientTable/RecipientEIN0046001191
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt025 GREEN STREET
IRS990ScheduleI/RecipientTable/USAddress/CityNm0IPSWICH
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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 FRO THEIR INTENDED PURPOSES.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990/ScheduleJRequiredInd00
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd01
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd00
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0REPAYMENT OF THEFT - SEE SCHEDULE O
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0BOARD MEMBER - FORMER
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0FORMER BOARD MEMBER -FUNDS ARE CURRENTLY BEING RECOUPED FROM FORMER BOD
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IRS990/ScheduleORequiredInd01
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. IN ADDITION, FORMS 990 AND 1023 AS WELL AS THE FINANCIAL STATEMENTS ARE AVAILABLE UPON WRITTEN REQUEST OR BY CALLING THE ORGANIZATION
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/ExplanationTxt4CHANGE IN NET ASSETS -191.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, SECTION B POLICES: 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/SignificantChangeInd00
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IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt094957
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt078333
IRS990/TempOrPermanentEndowmentsInd01
IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsGrp/BOYAmt0470835
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IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0150118
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0134
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt058497
IRS990/TotalFunctionalExpensesGrp/TotalAmt058631
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt020675
IRS990/TotalLiabilitiesEOYAmt010160
IRS990/TotalLiabilitiesGrp/BOYAmt020675
IRS990/TotalLiabilitiesGrp/EOYAmt010160
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0410250
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt058497
IRS990/TotalReportableCompFromOrgAmt00
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IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
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IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0420410
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
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IRS990/UnrelatedBusIncmOverLimitInd00
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IRS990/UnrestrictedNetAssetsGrp/EOYAmt0272533
IRS990/UponRequestInd0X
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IRS990/USAddress/ZIPCd001938
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0IPSWICHEDFOUNDATION.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02021-01-29 14:40:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0STEVE KING
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum06177559217
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-07-20
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ReturnHeader/Filer/PhoneNum06177559217
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Document Assets

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Filings

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