Civic Intelligence

Connecticut Pharmaceutical Association

990 • Fiscal year 2014 • EIN 06-0787984

Jul 01, 2013 to Jun 30, 2014 • Filed on Nov 06, 2014

35 Cold Springs RoadRoom/Suite 121Rocky Hill, CT 06067

(860) 563-4619

Siviq Scores

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

Liabilities / Assets

35th percentile

0.02x

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

2014 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2014

Liabilities / Revenue

32nd percentile

0.01x

Higher debt load relative to revenue than 32% of similar nonprofits.

2014 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2014

Net Margin

26th percentile

-2.7%

Higher net margin than 26% of similar nonprofits.

2014 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2014

Top Officer Pay

81st percentile

$128,000

Higher top officer pay than 81% of similar nonprofits.

Top officer pay equals 23.6% of source-year revenue.

2014 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2014

Asset Growth

57th percentile

6.3%

Faster asset growth than 57% of similar nonprofits.

2014 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2013 to 2014

Revenue Growth

91st percentile

32%

Faster revenue growth than 91% of similar nonprofits.

2014 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2013 to 2014

Assets

Up

$328,853

Up $19,417 (+6.3%) from 2013

Net Assets

Up

$321,520

Up $18,959 (+6.3%) from 2013

Liabilities

Up

$7,333

Up $458 (+6.7%) from 2013

Revenue

Up

$541,611

Up $130,000 (+32%) from 2013

Expenses

Up

$556,108

Up $42,757 (+8.3%) from 2013

Net Income

Up

-$14,497

Up $87,243 (+86%) from 2013

Historical Trend

Balance Sheet Trend

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

$600K$400K$200K$0-$200KAssets 2012: $404,397Liabilities 2012: $0Net Assets 2012: $404,3972012Assets 2013: $309,436Liabilities 2013: $6,875Net Assets 2013: $302,5612013Assets 2014: $328,853Liabilities 2014: $7,333Net Assets 2014: $321,5202014Assets 2015: $325,842Liabilities 2015: $58,080Net Assets 2015: $267,7622015Assets 2016: $309,473Liabilities 2016: $7,710Net Assets 2016: $301,7632016Assets 2017: $334,238Liabilities 2017: $15,148Net Assets 2017: $319,0902017Assets 2018: $348,212Liabilities 2018: $25,383Net Assets 2018: $322,8292018Assets 2019: $268,719Liabilities 2019: $72,192Net Assets 2019: $196,5272019Assets 2020: $220,806Liabilities 2020: $64,314Net Assets 2020: $156,4922020Assets 2021: $327,360Liabilities 2021: $223,327Net Assets 2021: $104,0332021Assets 2022: $223,334Liabilities 2022: $240,513Net Assets 2022: -$17,1792022Assets 2023: $199,985Liabilities 2023: $203,559Net Assets 2023: -$3,5742023Assets 2024: $183,881Liabilities 2024: $193,763Net Assets 2024: -$9,8822024

Highlighted filing

2014

Assets$328,853
Liabilities$7,333
Net Assets$321,520

Operations Trend

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

$600K$400K$200K$0-$200KRevenue 2012: $495,715Expenses 2012: $582,532Net Income 2012: -$86,8172012Revenue 2013: $411,611Expenses 2013: $513,351Net Income 2013: -$101,7402013Revenue 2014: $541,611Expenses 2014: $556,108Net Income 2014: -$14,4972014Revenue 2015: $415,503Expenses 2015: $459,277Net Income 2015: -$43,7742015Revenue 2016: $391,060Expenses 2016: $420,700Net Income 2016: -$29,6402016Revenue 2017: $484,197Expenses 2017: $481,032Net Income 2017: $3,1652017Revenue 2018: $437,162Expenses 2018: $439,217Net Income 2018: -$2,0552018Revenue 2019: $379,388Expenses 2019: $509,091Net Income 2019: -$129,7032019Revenue 2020: $409,426Expenses 2020: $438,529Net Income 2020: -$29,1032020Revenue 2021: $300,431Expenses 2021: $391,698Net Income 2021: -$91,2672021Revenue 2022: $364,792Expenses 2022: $448,707Net Income 2022: -$83,9152022Revenue 2023: $333,276Expenses 2023: $333,748Net Income 2023: -$4722023Revenue 2024: $364,781Expenses 2024: $386,287Net Income 2024: -$21,5062024

Highlighted filing

2014

Revenue$541,611
Expenses$556,108
Net Income-$14,497
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Nov 6, 2014
Return Version
2013v3.1
Gross Receipts
$541,611
Mission and Program Overview

Mission

The mission of the connecticut pharmacists association is to advance the practice and interest of pharmacy in the state of connecticut.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$302,561$321,520▲ $18,959
Investments in Publicly Traded Securities$156,223$193,259▲ $37,036
Savings and Temporary Cash Investments$97,113$73,165▼ $23,948
Land, Buildings, and Equipment, Net$35,243$26,591▼ $8,652
Accounts Receivable$10,085$25,921▲ $15,836
Cash and Non-Interest-Bearing Accounts$6,940$4,720▼ $2,220
Prepaid Expenses and Deferred Charges$3,832$3,397▼ $435
Other Notes and Loans Receivable, Net-$1,800-
Total Assets$309,436$328,853▲ $19,417
Liabilities
Accounts Payable and Accrued Expenses$6,875$7,333▲ $458
Total Liabilities$6,875$7,333▲ $458
Net Assets / Fund Balance
Total Net Assets Fund Balance$302,561$321,520▲ $18,959
Total Liabilities and Net Assets / Fund Balance$309,436$328,853▲ $19,417

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$17,983$186,017$204,000
Other Land Buildings$8,608$4,352$12,960
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Margherita R Giuliano RphExecutive VPFT$128,000$128,000
Karen Hoang PharmdPresident-el-$1,200$1,200

Board Members and Trustees

NameTitle
Philip HritckoPresident
Jacqueline Murphy Rph1st Vice Pre
Bahar Matusik2nd Vice Pre
Andrea LeschakAppointed Me
Kristen RychalskyAppointed Me
Lakshmana PudipeddiAppointed Me
Ralph StanzioneAppointed Me
Lucrezia Finegan RphPast-preside
Angelo Defazio RphRegional Rep
Burton Orland RphRegional Rep
Crystal BissonnetteRegional Rep
Elizabeth Bragaw RphRegional Rep
Gillian KuszewskiRegional Rep
Jean KeatingRegional Rep
Lydia TranStudent
Thomas WalczykStudent
Peter Tyczkowski Rph MbaTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$178,376
Program Service Revenue
$356,563
Investment Income
$6,672
Other Revenue
$0
All Other Contributions
$178,376
Change in Net Assets
$-14,497

Audited Revenue Reconciliation

Revenue per Audited Statements
$541,611
Revenue Not Reported on Form 990
$33,456
Total Revenue per Audited Statements
$575,067
Total Revenue per Form 990
$541,611
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$352,721
Salaries, Compensation, and Employee Benefits$203,387
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$118,900$12,800-$131,700
Other Salaries and Wages$46,407$5,156-$51,563
Office Expenses$42,415--$42,415
Fees for Services Lobbying$31,056--$31,056
Payroll Taxes$11,191$1,243-$12,434
Occupancy-$8,787-$8,787
Depreciation Depletion$8,652--$8,652
Other Employee Benefits$6,921$769-$7,690
Conferences and Meetings$3,650$3,650-$7,300
Insurance-$4,057-$4,057
Information Technology$3,750--$3,750
Other Expenses$3,000$2,788-$3,000
All Other Expenses-$1,927-$1,927
Total Functional Expenses$508,481$47,627$0$556,108

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$556,108
Total Expenses per Audited Statements$556,108
Total Expenses per Form 990$556,108
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
In-house lobbying only
No
Subject to proxy tax
Yes

Reported Spending and Taxes

Line ItemAmount
Current Year Nondeductible Lobbying and Political Cost$31,056
Total Nondeductible Lobbying and Political Cost$31,056
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

The association has approximately 745 members. Members are not divided into classes.

Form 990, Page 6, Part VI, Line 7A

The association has 6 regions in the state that have been divided by the number of members in a region. Nominations for members representing a region is solicited. A ballot is sent out and elections occur. The term for an elected member is 3 years. If no one from a region is nominated the president may appoint someone for a one-year term.

Form 990, Page 6, Part VI, Line 7B

Members only have the ability to approve bylaw changes.

Form 990, Page 6, Part VI, Line 11B

The treasurer of the association and the executive vice president reviews form 990 prior to its issuance. The form 990 is made available for the board members' review before it was filed with the internal revenue service.

Form 990, Page 6, Part VI, Line 12C

The conflict of interest policy is signed by board members at the beginning of each year. At the start of each meeting it is asked if any board member has a conflict of interest with the agenda as presented.

Form 990, Page 6, Part VI, Line 15A

The executive vice president enters into a two year contract which is negotiated with the officers and voted on by the full board.

Form 990, Page 6, Part VI, Line 19

Governing documents are made available to the public upon request.

Filing and Contact Details

Filer

EIN
06-0787984
Phone
8605634619

Signing Officer

Name
Margherita R Giuliano
Title
Executive Vice President
Phone
8605634619
Signed
2014-11-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Margherita T Giuliano
Formed
1876
Legal Domicile
Ct
Voting Board Members
18
Independent Board Members
18
Employees
2
Volunteers
21

Preparer

Preparer
Robert Rejnin CPA
Phone
8606778303
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

The association implemented the accounting guidance for uncertainty in income taxes using certain provisions of asc 740, income taxes. Using this guidance, tax positions initially need to be recognized in the financial statements when it is more-likely-than-not that the position will be sustained upon examination by the tax authorities. As of june 30, 2014, the association has no uncertain tax positions that qualify for either recognition or disclosure in the financial statement and belives that it has appropriate support for income tax position taken in its tax returns. Currently, the association's informational returns for fiscal year ended june 30, 2012 - 2014 remain open to inspection by the irs.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0EXECUTIVE VP
IRS990/Form990PartVIISectionAGrp/TitleTxt1PRESIDENT-EL
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IRS990/Form990PartVIISectionAGrp/TitleTxt3PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt41ST VICE PRE
IRS990/Form990PartVIISectionAGrp/TitleTxt5TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt6REGIONAL REP
IRS990/Form990PartVIISectionAGrp/TitleTxt7REGIONAL REP
IRS990/Form990PartVIISectionAGrp/TitleTxt8REGIONAL REP
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IRS990/Form990PartVIISectionAGrp/TitleTxt10REGIONAL REP
IRS990/Form990PartVIISectionAGrp/TitleTxt11REGIONAL REP
IRS990/Form990PartVIISectionAGrp/TitleTxt12APPOINTED ME
IRS990/Form990PartVIISectionAGrp/TitleTxt132ND VICE PRE
IRS990/Form990PartVIISectionAGrp/TitleTxt14APPOINTED ME
IRS990/Form990PartVIISectionAGrp/TitleTxt15APPOINTED ME
IRS990/Form990PartVIISectionAGrp/TitleTxt16APPOINTED ME
IRS990/Form990PartVIISectionAGrp/TitleTxt17STUDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt18STUDENT
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IRS990/MissionDesc0THE MISSION OF THE CONNECTICUT PHARMACISTS ASSOCIATION IS TO ADVANCE THE PRACTICE AND INTEREST OF PHARMACY IN THE STATE OF CONNECTICUT.
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IRS990/PrincipalOfficerNm0MARGHERITA T GIULIANO
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IRS990/ProgramServiceRevenueGrp/Desc0CONVENTIONS & SEMINARS
IRS990/ProgramServiceRevenueGrp/Desc1MEMBER SERVICES
IRS990/ProgramServiceRevenueGrp/Desc2DUES
IRS990/ProgramServiceRevenueGrp/Desc3SPONSORED PROGRAMS
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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990ScheduleC/SubstantiallyAllDuesNondedInd0false
IRS990ScheduleC/TaxableAmt0-7349
IRS990ScheduleD/BuildingsGrp/BookValueAmt017983
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IRS990ScheduleD/ExpensesSubtotalAmt0556108
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IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt04352
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt012960
IRS990ScheduleD/RevenueNotReportedAmt033456
IRS990ScheduleD/RevenueSubtotalAmt0541611
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ASSOCIATION IMPLEMENTED THE ACCOUNTING GUIDANCE FOR UNCERTAINTY IN INCOME TAXES USING CERTAIN PROVISIONS OF ASC 740, INCOME TAXES. USING THIS GUIDANCE, TAX POSITIONS INITIALLY NEED TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS WHEN IT IS MORE-LIKELY-THAN-NOT THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION BY THE TAX AUTHORITIES. AS OF JUNE 30, 2014, THE ASSOCIATION HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENT AND BELIVES THAT IT HAS APPROPRIATE SUPPORT FOR INCOME TAX POSITION TAKEN IN ITS TAX RETURNS. CURRENTLY, THE ASSOCIATION'S INFORMATIONAL RETURNS FOR FISCAL YEAR ENDED JUNE 30, 2012 - 2014 REMAIN OPEN TO INSPECTION BY THE IRS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ASSOCIATION HAS APPROXIMATELY 745 MEMBERS. MEMBERS ARE NOT DIVIDED INTO CLASSES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ASSOCIATION HAS 6 REGIONS IN THE STATE THAT HAVE BEEN DIVIDED BY THE NUMBER OF MEMBERS IN A REGION. NOMINATIONS FOR MEMBERS REPRESENTING A REGION IS SOLICITED. A BALLOT IS SENT OUT AND ELECTIONS OCCUR. THE TERM FOR AN ELECTED MEMBER IS 3 YEARS. IF NO ONE FROM A REGION IS NOMINATED THE PRESIDENT MAY APPOINT SOMEONE FOR A ONE-YEAR TERM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MEMBERS ONLY HAVE THE ABILITY TO APPROVE BYLAW CHANGES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE TREASURER OF THE ASSOCIATION AND THE EXECUTIVE VICE PRESIDENT REVIEWS FORM 990 PRIOR TO ITS ISSUANCE. THE FORM 990 IS MADE AVAILABLE FOR THE BOARD MEMBERS' REVIEW BEFORE IT WAS FILED WITH THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE CONFLICT OF INTEREST POLICY IS SIGNED BY BOARD MEMBERS AT THE BEGINNING OF EACH YEAR. AT THE START OF EACH MEETING IT IS ASKED IF ANY BOARD MEMBER HAS A CONFLICT OF INTEREST WITH THE AGENDA AS PRESENTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE EXECUTIVE VICE PRESIDENT ENTERS INTO A TWO YEAR CONTRACT WHICH IS NEGOTIATED WITH THE OFFICERS AND VOTED ON BY THE FULL BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
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IRS990ScheduleR/AssetSaleToOtherOrgInd0false
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