Civic Intelligence

Norfolk Education Foundation

990 • Fiscal year 2014 • EIN 11-3789355

Jul 01, 2013 to Jun 30, 2014 • Filed on Nov 03, 2014

800 East City Hall AvenueNorfolk, VA 23510

(757) 628-1172

Siviq Scores

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

Liabilities / Assets

73rd percentile

0.06x

Higher debt load relative to assets than 73% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Liabilities / Revenue

80th percentile

0.08x

Higher debt load relative to revenue than 80% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Net Margin

56th percentile

5.6%

Higher net margin than 56% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Top Officer Pay

74th percentile

$0

Higher top officer pay than 74% of similar nonprofits.

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

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Asset Growth

30th percentile

-8.9%

Faster asset growth than 30% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Annualized from 2013 to 2014

Revenue Growth

45th percentile

-1.2%

Faster revenue growth than 45% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Annualized from 2013 to 2014

Assets

Down

$334,848

Down $32,581 (-8.9%) from 2013

Net Assets

Down

$313,804

Down $34,172 (-9.8%) from 2013

Liabilities

Up

$21,044

Up $1,591 (+8.2%) from 2013

Revenue

Down

$253,771

Down $2,977 (-1.2%) from 2013

Expenses

Down

$239,637

Down $10,497 (-4.2%) from 2013

Net Income

Up

$14,134

Up $7,520 (+114%) from 2013

Historical Trend

Balance Sheet Trend

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

$600K$400K$200K$0Assets 2011: $443,877Liabilities 2011: $02011Assets 2012: $341,361Liabilities 2012: $02012Assets 2013: $367,429Liabilities 2013: $19,453Net Assets 2013: $347,9762013Assets 2014: $334,848Liabilities 2014: $21,044Net Assets 2014: $313,8042014Assets 2015: $340,963Liabilities 2015: $10,837Net Assets 2015: $330,1262015Assets 2016: $331,824Liabilities 2016: $5,314Net Assets 2016: $326,5102016Assets 2017: $422,163Liabilities 2017: $1,008Net Assets 2017: $421,1552017

Highlighted filing

2014

Assets$334,848
Liabilities$21,044
Net Assets$313,804

Operations Trend

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

$300K$200K$100K$0-$100K-$200KRevenue 2011: $186,874Expenses 2011: $161,849Net Income 2011: $25,0252011Revenue 2012: $86,205Expenses 2012: $188,721Net Income 2012: -$102,5162012Revenue 2013: $256,748Expenses 2013: $250,134Net Income 2013: $6,6142013Revenue 2014: $253,771Expenses 2014: $239,637Net Income 2014: $14,1342014Revenue 2015: $249,403Expenses 2015: $284,899Net Income 2015: -$35,4962015Revenue 2016: $183,186Expenses 2016: $257,513Net Income 2016: -$74,3272016Revenue 2017: $233,182Expenses 2017: $138,538Net Income 2017: $94,6442017

Highlighted filing

2014

Revenue$253,771
Expenses$239,637
Net Income$14,134
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Nov 3, 2014
Return Version
2013v4.0
Gross Receipts
$253,771
Mission and Program Overview

Mission

TO PROVIDE RESOURCES

To provide resource to support the norfolk public schools in becoming world class.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$16,092$40,767▲ $24,675
Pledges and Grants Receivable$91,053$34,081▼ $56,972
Prepaid Expenses and Deferred Charges$284--
Total Assets$367,429$334,848▼ $32,581
Other Assets Total$260,000$260,000→ $0
Liabilities
Accounts Payable and Accrued Expenses$19,453$21,044▲ $1,591
Total Liabilities$19,453$21,044▲ $1,591
Net Assets / Fund Balance
Unrestricted Net Assets$327,610$313,804▼ $13,806
Temporarily Rstr Net Assets$20,366--
Total Net Assets Fund Balance$347,976$313,804▼ $34,172
Total Liabilities and Net Assets / Fund Balance$367,429$334,848▼ $32,581

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$260,000--
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$252,470
Program Service Revenue
$1,298
Investment Income
$3
Other Revenue
$0
All Other Contributions
$252,470
Change in Net Assets
$14,134
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$147,538
Grants and Similar Amounts Paid$92,099
Total Fundraising Expense$39,230
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$92,099--$92,099
Conferences and Meetings$46,024$4,355$18,909$69,288
All Other Expenses$100$5,999$17,434$23,533
Office Expenses$20,264$0$207$20,471
Travel$14,829$0$0$14,829
Fees for Services Accounting$158$4,180$600$4,938
Information Technology$2,727$84$1,080$3,891
Other Expenses$0$2,068$0$2,068
Advertising$0$1,657$0$1,657
Insurance$0$702$0$702
Total Functional Expenses$181,273$19,134$39,230$239,637
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
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
No
Management duties delegated
No
Filing and Contact Details

Filer

EIN
11-3789355
Phone
7576281172

Signing Officer

Name
Carlos J Clanton
Title
Executive Director
Phone
7576281172
Signed
2014-11-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Carlos J Clanton
Formed
2001
Legal Domicile
Va
Voting Board Members
30
Independent Board Members
30
Employees
0
Volunteers
60

Preparer

Preparer
Diana a Fleck
Phone
7572005930
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

Governing body review (part vi line 11)copies of form 990 are distributed to all officers and board members for review. Each

Pt VI, Line 11B

Officer and board memebr must give their approval before final tax return can

Pt VI, Line 11B

BE FILED

Pt VI, Line 12C

Conflict of interest policy compliance(part vi line 12c)

Pt VI, Line 12C

At all board meetings the board chair person opens the meeting by

Pt VI, Line 12C

Asking if any officers and board memebers have any potential conflicts of

Pt VI, Line 12C

Interest or if anyone wishes to discuss any issues they feel could

Pt VI, Line 12C

Be a possible conflict of interest.

Pt VI, Line 15A

Ceo,executive director,top management comp (part vi line 15a)

Pt VI, Line 15A

The executive directors compensation is determined and approved by the

Pt VI, Line 15A

Board members which includes the review of comparability data.

Pt VI, Line 19

Governing documents, etc. Available to public (part vi line 19)

Pt VI, Line 19

All governing documents,financial statements and the confict of

Pt VI, Line 19

Interest policy are available to the public upon request.

Pt XI

Other changes to net assets or fund balances part xi line 9

Pt XI

The accounts payable was eroneously entered.

Pt VII,Line 28

Section 3 of the memorandum of understanding between the

Pt VII Line 28

Norfolk education foundation and the school board of the

Pt VII Line 28

City of norfolk states the board shall fund one hundred

Pt VII Line 28

Percent (100%) of the foundation-related personnel cost

Pt VII Line 28

From the school board's operating budget by assignment of

Pt VII Line 28

School board personnel of an executive director.

Form 990, Part IX, Line 24F

Operations:books, subscriptions, reference 3290. 3290. Fundrasing fees 6584. 6584. Outside contract services 10850. 10850. Dues & subscriptions 394. 100. 294. 0. Staff development 553. 0. 553. 0. Other staff g&a expense 1862. 0. 1862. 0.

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IRS990/ProgSrvcAccomActy2Grp/Desc0A+ COMMUNITY PARTNERS PROGRAM SUPPORT TO FULLFILL THE FOUNDATIONS MISSION OF DRIVING SUPPORT BACK INTO THE NORFOLK PUBLIC SCHOOLS.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0GOVERNING BODY REVIEW (PART VI LINE 11)COPIES OF FORM 990 ARE DISTRIBUTED TO ALL OFFICERS AND BOARD MEMBERS FOR REVIEW. EACH
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1OFFICER AND BOARD MEMEBR MUST GIVE THEIR APPROVAL BEFORE FINAL TAX RETURN CAN
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BE FILED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CONFLICT OF INTEREST POLICY COMPLIANCE(PART VI LINE 12C)
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4AT ALL BOARD MEETINGS THE BOARD CHAIR PERSON OPENS THE MEETING BY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ASKING IF ANY OFFICERS AND BOARD MEMEBERS HAVE ANY POTENTIAL CONFLICTS OF
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6INTEREST OR IF ANYONE WISHES TO DISCUSS ANY ISSUES THEY FEEL COULD
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7BE A POSSIBLE CONFLICT OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8CEO,EXECUTIVE DIRECTOR,TOP MANAGEMENT COMP (PART VI LINE 15A)
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9THE EXECUTIVE DIRECTORS COMPENSATION IS DETERMINED AND APPROVED BY THE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10BOARD MEMBERS WHICH INCLUDES THE REVIEW OF COMPARABILITY DATA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt11GOVERNING DOCUMENTS, ETC. AVAILABLE TO PUBLIC (PART VI LINE 19)
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt12ALL GOVERNING DOCUMENTS,FINANCIAL STATEMENTS AND THE CONFICT OF
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt13INTEREST POLICY ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt14OTHER CHANGES TO NET ASSETS OR FUND BALANCES PART XI LINE 9
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt15THE ACCOUNTS PAYABLE WAS ERONEOUSLY ENTERED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt16SECTION 3 OF THE MEMORANDUM OF UNDERSTANDING BETWEEN THE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt17NORFOLK EDUCATION FOUNDATION AND THE SCHOOL BOARD OF THE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt18CITY OF NORFOLK STATES THE BOARD SHALL FUND ONE HUNDRED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt19PERCENT (100%) OF THE FOUNDATION-RELATED PERSONNEL COST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt20FROM THE SCHOOL BOARD'S OPERATING BUDGET BY ASSIGNMENT OF
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt21SCHOOL BOARD PERSONNEL OF AN EXECUTIVE DIRECTOR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt22OPERATIONS:BOOKS, SUBSCRIPTIONS, REFERENCE 3290. 3290. FUNDRASING FEES 6584. 6584. OUTSIDE CONTRACT SERVICES 10850. 10850. DUES & SUBSCRIPTIONS 394. 100. 294. 0. STAFF DEVELOPMENT 553. 0. 553. 0. OTHER STAFF G&A EXPENSE 1862. 0. 1862. 0.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Pt VI, Line 12c

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