Civic Intelligence

Horace Staples Trust

990 • Fiscal year 2021 • EIN 06-6039258

May 01, 2020 to Apr 30, 2021 • Filed on Aug 12, 2021

CO Sherwood Garlick 65 Jesup RoWestport, CT 06880

(203) 227-9585

Siviq Scores

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

Liabilities / Assets

39th percentile

0.00x

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

2021 filings • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

39th percentile

0.00x

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

2021 filings • $500k-$1M nonprofits • Source year 2021

Net Margin

90th percentile

63%

Higher net margin than 90% of similar nonprofits.

2021 filings • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

57th percentile

$1,000

Higher top officer pay than 57% of similar nonprofits.

Top officer pay equals 3.8% of source-year revenue.

2021 filings • $500k-$1M nonprofits • Source year 2021

Asset Growth

40th percentile

2.8%

Faster asset growth than 40% of similar nonprofits.

2021 filings • $500k-$1M nonprofits • Annualized from 2020 to 2021

Revenue Growth

26th percentile

-7.1%

Faster revenue growth than 26% of similar nonprofits.

2021 filings • $500k-$1M nonprofits • Annualized from 2020 to 2021

Assets

Up

$721,908

Up $19,913 (+2.8%) from 2020

Net Assets

Up

$721,908

Up $23,214 (+3.3%) from 2020

Liabilities

Down

$0

Down $3,301 (-100%) from 2020

Revenue

Down

$26,179

Down $2,010 (-7.1%) from 2020

Expenses

Down

$9,569

Down $23,415 (-71%) from 2020

Net Income

Up

$16,610

Up $21,405 (+446%) from 2020

Historical Trend

Balance Sheet Trend

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

$800K$600K$400K$200K$0Assets 2013: $717,498Liabilities 2013: $0Net Assets 2013: $717,4982013Assets 2014: $722,288Liabilities 2014: $0Net Assets 2014: $722,2882014Assets 2015: $724,532Liabilities 2015: $0Net Assets 2015: $724,5322015Assets 2016: $715,539Liabilities 2016: $0Net Assets 2016: $715,5392016Assets 2017: $708,358Liabilities 2017: $0Net Assets 2017: $708,3582017Assets 2018: $698,401Liabilities 2018: $0Net Assets 2018: $698,4012018Assets 2019: $704,248Liabilities 2019: $0Net Assets 2019: $704,2482019Assets 2020: $701,995Liabilities 2020: $3,301Net Assets 2020: $698,6942020Assets 2021: $721,908Liabilities 2021: $0Net Assets 2021: $721,9082021Assets 2022: $729,152Liabilities 2022: $0Net Assets 2022: $729,1522022Assets 2023: $767,544Liabilities 2023: $0Net Assets 2023: $767,5442023Assets 2024: $738,232Liabilities 2024: $0Net Assets 2024: $738,2322024Assets 2025: $708,174Liabilities 2025: $0Net Assets 2025: $708,1742025

Highlighted filing

2021

Assets$721,908
Liabilities$0
Net Assets$721,908

Operations Trend

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

$100K$50K$0-$50KExpenses 2013: $31,4022013Revenue 2014: $36,896Expenses 2014: $30,319Net Income 2014: $6,5772014Revenue 2015: $34,304Expenses 2015: $32,272Net Income 2015: $2,0322015Revenue 2016: $19,601Expenses 2016: $31,589Net Income 2016: -$11,9882016Revenue 2017: $21,184Expenses 2017: $26,864Net Income 2017: -$5,6802017Revenue 2018: $19,004Expenses 2018: $29,449Net Income 2018: -$10,4452018Revenue 2019: -$3,723Expenses 2019: $30,605Net Income 2019: -$34,3282019Revenue 2020: $28,189Expenses 2020: $32,984Net Income 2020: -$4,7952020Revenue 2021: $26,179Expenses 2021: $9,569Net Income 2021: $16,6102021Revenue 2022: $30,567Expenses 2022: $23,323Net Income 2022: $7,2442022Revenue 2023: $44,350Expenses 2023: $5,958Net Income 2023: $38,3922023Revenue 2024: $32,683Expenses 2024: $61,995Net Income 2024: -$29,3122024Revenue 2025: $32,892Expenses 2025: $62,950Net Income 2025: -$30,0582025

Highlighted filing

2021

Revenue$26,179
Expenses$9,569
Net Income$16,610
Jump To
Filing Snapshot
Filing Period
May 1, 2020 to Apr 30, 2021
Signed
Aug 12, 2021
Return Version
2020v4.1
Gross Receipts
$26,181
Mission and Program Overview

Mission

Distribution of income to the westport, ct board of education

Distributes annual income to the westport, ct board of education

Balance Sheet Detail
LineBeginningEndChange
Assets
Cap Stk Tr Prin Current Funds$722,288$722,288→ $0
Investments Other Securities$682,867$687,757▲ $4,890
Cash and Non-Interest-Bearing Accounts$19,128$34,151▲ $15,023
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$-23,594$-380▲ $23,214
Total Assets$701,995$721,908▲ $19,913
Liabilities
Other Liabilities$3,301$0▼ $3,301
Total Liabilities$3,301$0▼ $3,301
Net Assets / Fund Balance
Total Net Assets Fund Balance$698,694$721,908▲ $23,214
Total Liabilities and Net Assets / Fund Balance$701,995$721,908▲ $19,913

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$687,757--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$701,995---$701,995
2019$704,248-▲ $28,189$1,500$701,995
2018$698,401-▲ $36,452$750$704,248
2017$708,358-▲ $19,492$1,500$698,401
2016$715,539-▲ $19,683$1,500$708,358
Compensation and Service Providers

Employees

NameTitleBaseTotal
Rj DivineyTrustee$1,000$1,000
Samuel GaultTrustee$1,000$1,000
Thomas C HofstetterTrustee$1,000$1,000
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$26,179
Other Revenue
$0
Change in Net Assets
$16,610
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$6,569
Salaries, Compensation, and Employee Benefits$3,000
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$1,500$1,500-$3,000
Fees for Services Legal-$2,715-$2,715
Fees for Services Other-$1,696-$1,696
Fees for Services Accounting-$1,350-$1,350
Other Expenses-$408-$408
Insurance-$400-$400
Total Functional Expenses$1,500$8,069$0$9,569
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Westport Board of EducationWestport, CT-Financial Support of Education Programs-
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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

A copy of form 990 is delivered to a trustee for signature

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request only.

Filing and Contact Details

Filer

Filer Name
Horace Staples Trust
EIN
06-6039258
Phone
2032279585
Address
CO SHERWOOD GARLICK 65 JESUP RO, WESTPORT, CT 06880

Signing Officer

Name
Richard Diviney
Title
Trustee
Phone
2032279585
Signed
2021-08-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Richard J Diviney
Legal Domicile
Ct
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
Therrien & Associates Pc
Address
195 DANBURY ROAD SUITE 120, WILTON, CT 06897
Preparer
Scott L Therrien CPA
Phone
2037629559
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Probate accounting: program service expenses 0. Management and general expenses 930. Fundraising expenses 0. Total expenses 930. Bond amortization: program service expenses 0. Management and general expenses 766. Fundraising expenses 0. Total expenses 766.

FORM 990, PART XI, LINE 9:

Adjustment required to reconcile grants payable 6,604.

Financial Statement Notes

PART V, LINE 4:

Distribution of income to the westport, ct board of education

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IRS990ScheduleA/MinimumAssetAmountGrp/AverageMonthlyFMVOfSecGrp/PriorYearAmt0773939
IRS990ScheduleA/MinimumAssetAmountGrp/CashDeemedCharitableGrp/CurrentYearAmt011591
IRS990ScheduleA/MinimumAssetAmountGrp/CashDeemedCharitableGrp/PriorYearAmt011780
IRS990ScheduleA/MinimumAssetAmountGrp/DiscountClaimedAmt00
IRS990ScheduleA/MinimumAssetAmountGrp/FMVOtherNonExemptUseAssetGrp/CurrentYearAmt00
IRS990ScheduleA/MinimumAssetAmountGrp/FMVOtherNonExemptUseAssetGrp/PriorYearAmt00
IRS990ScheduleA/MinimumAssetAmountGrp/NetVlNonExemptUseAssetsGrp/CurrentYearAmt0761168
IRS990ScheduleA/MinimumAssetAmountGrp/NetVlNonExemptUseAssetsGrp/PriorYearAmt0773562
IRS990ScheduleA/MinimumAssetAmountGrp/PctOfNetVlNonExemptUseAstGrp/CurrentYearAmt026641
IRS990ScheduleA/MinimumAssetAmountGrp/PctOfNetVlNonExemptUseAstGrp/PriorYearAmt027075
IRS990ScheduleA/MinimumAssetAmountGrp/RecoveriesPYDistriMinAssetGrp/CurrentYearAmt00
IRS990ScheduleA/MinimumAssetAmountGrp/RecoveriesPYDistriMinAssetGrp/PriorYearAmt00
IRS990ScheduleA/MinimumAssetAmountGrp/TotalFMVOfNonExemptUseAssetGrp/CurrentYearAmt0772759
IRS990ScheduleA/MinimumAssetAmountGrp/TotalFMVOfNonExemptUseAssetGrp/PriorYearAmt0785342
IRS990ScheduleA/MinimumAssetAmountGrp/TotalMinimumAssetGrp/CurrentYearAmt026641
IRS990ScheduleA/MinimumAssetAmountGrp/TotalMinimumAssetGrp/PriorYearAmt027075
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0066002128
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd01
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd02
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0WESTPORT CT BOARD OF EDUCATION
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType3NonFuncInd0X
IRS990ScheduleA/SupportSumAmt00
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt0701995
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt0701995
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/AdministrativeExpensesAmt05640
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt0704248
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt0701995
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/GrantsOrScholarshipsAmt023302
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt028189
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/OtherExpendituresAmt01500
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/AdministrativeExpensesAmt04011
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt0698401
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt0704248
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/GrantsOrScholarshipsAmt025844
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt036452
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/OtherExpendituresAmt0750
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/AdministrativeExpensesAmt03013
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt0708358
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt0698401
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/GrantsOrScholarshipsAmt024936
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt019492
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/OtherExpendituresAmt01500
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/AdministrativeExpensesAmt01700
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt0715539
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt0708358
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/GrantsOrScholarshipsAmt023664
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt019683
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/OtherExpendituresAmt01500
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt0687757
IRS990ScheduleD/OtherSecuritiesGrp/Desc0STOCK / BONDS / FUNDS
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0C
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct01.00000
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0DISTRIBUTION OF INCOME TO THE WESTPORT, CT BOARD OF EDUCATION
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART V, LINE 4:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueSecuritiesAmt0687757
IRS990ScheduleI/GrantRecordsMaintainedInd00
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0FINANCIAL SUPPORT OF EDUCATION PROGRAMS
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0WESTPORT BOARD OF EDUCATION
IRS990ScheduleI/RecipientTable/RecipientEIN0066002128
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0POST ROAD
IRS990ScheduleI/RecipientTable/USAddress/CityNm0WESTPORT
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0CT
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd006880
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A COPY OF FORM 990 IS DELIVERED TO A TRUSTEE FOR SIGNATURE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST ONLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2PROBATE ACCOUNTING: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 930. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 930. BOND AMORTIZATION: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 766. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 766.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ADJUSTMENT REQUIRED TO RECONCILE GRANTS PAYABLE 6,604.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 9:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TaxExemptInterestAmt00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0701995
IRS990/TotalAssetsEOYAmt0721908
IRS990/TotalAssetsGrp/BOYAmt0701995
IRS990/TotalAssetsGrp/EOYAmt0721908
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt08069
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01500
IRS990/TotalFunctionalExpensesGrp/TotalAmt09569
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03301
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt03301
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0698694
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0721908
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt01500
IRS990/TotalReportableCompFromOrgAmt03000
IRS990/TotalRevenueGrp/ExclusionAmt026179
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt026179
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0701995
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0721908
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationTrustInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt065 JESUP RD
IRS990/USAddress/CityNm0WESTPORT
IRS990/USAddress/StateAbbreviationCd0CT
IRS990/USAddress/ZIPCd006880
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-09-23 18:48:47Z

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