Civic Intelligence

Tamarack Foundation Inc.

990 • Fiscal year 2015 • EIN 13-4219221

Jan 01, 2015 to Dec 31, 2015 • Filed on Aug 26, 2016

3310 Piedmont RoadCharleston, WV 25306

(304) 926-3770

Siviq Scores

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

Liabilities / Assets

74th percentile

0.27x

Higher debt load relative to assets than 74% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Liabilities / Revenue

82nd percentile

0.42x

Higher debt load relative to revenue than 82% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Net Margin

57th percentile

5.6%

Higher net margin than 57% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Top Officer Pay

68th percentile

$53,388

Higher top officer pay than 68% of similar nonprofits.

Top officer pay equals 15.1% of source-year revenue.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Asset Growth

86th percentile

36%

Faster asset growth than 86% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2014 to 2015

Revenue Growth

28th percentile

-7.4%

Faster revenue growth than 28% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2014 to 2015

Assets

Up

$565,904

Up $148,859 (+36%) from 2014

Net Assets

Up

$415,728

Up $19,859 (+5.0%) from 2014

Liabilities

Up

$150,176

Up $129,000 (+609%) from 2014

Revenue

Down

$354,617

Down $28,394 (-7.4%) from 2014

Expenses

Down

$334,758

Down $67,702 (-17%) from 2014

Net Income

Up

$19,859

Up $39,308 (+202%) from 2014

Historical Trend

Balance Sheet Trend

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

$800K$600K$400K$200K$0Assets 2011: $275,628Liabilities 2011: $9,155Net Assets 2011: $266,4732011Assets 2012: $408,270Liabilities 2012: $18,534Net Assets 2012: $389,7362012Assets 2013: $463,973Liabilities 2013: $48,655Net Assets 2013: $415,3182013Assets 2014: $417,045Liabilities 2014: $21,176Net Assets 2014: $395,8692014Assets 2015: $565,904Liabilities 2015: $150,176Net Assets 2015: $415,7282015Assets 2016: $626,120Liabilities 2016: $80,887Net Assets 2016: $545,2332016Assets 2017: $511,587Liabilities 2017: $15,758Net Assets 2017: $495,8292017Assets 2018: $540,765Liabilities 2018: $16,910Net Assets 2018: $523,8552018Assets 2019: $516,497Liabilities 2019: $25,810Net Assets 2019: $490,6872019Assets 2020: $441,167Liabilities 2020: $12,319Net Assets 2020: $428,8482020Assets 2021: $604,567Liabilities 2021: $6,612Net Assets 2021: $597,9552021Assets 2022: $617,013Liabilities 2022: $22,023Net Assets 2022: $594,9902022Assets 2023: $499,646Liabilities 2023: $31,369Net Assets 2023: $468,2772023Assets 2024: $395,203Liabilities 2024: $21,587Net Assets 2024: $373,6162024

Highlighted filing

2015

Assets$565,904
Liabilities$150,176
Net Assets$415,728

Operations Trend

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

$600K$400K$200K$0-$200KExpenses 2011: $316,7052011Expenses 2012: $369,6992012Revenue 2013: $350,707Expenses 2013: $325,125Net Income 2013: $25,5822013Revenue 2014: $383,011Expenses 2014: $402,460Net Income 2014: -$19,4492014Revenue 2015: $354,617Expenses 2015: $334,758Net Income 2015: $19,8592015Revenue 2016: $437,938Expenses 2016: $308,433Net Income 2016: $129,5052016Revenue 2017: $222,485Expenses 2017: $271,889Net Income 2017: -$49,4042017Revenue 2018: $227,574Expenses 2018: $199,548Net Income 2018: $28,0262018Revenue 2019: $166,643Expenses 2019: $199,812Net Income 2019: -$33,1692019Revenue 2020: $147,020Expenses 2020: $208,859Net Income 2020: -$61,8392020Revenue 2021: $453,443Expenses 2021: $284,335Net Income 2021: $169,1082021Revenue 2022: $472,563Expenses 2022: $475,528Net Income 2022: -$2,9652022Revenue 2023: $443,135Expenses 2023: $569,848Net Income 2023: -$126,7132023Revenue 2024: $427,725Expenses 2024: $522,386Net Income 2024: -$94,6612024

Highlighted filing

2015

Revenue$354,617
Expenses$334,758
Net Income$19,859
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Aug 26, 2016
Return Version
2015v2.1
Gross Receipts
$354,617
Mission and Program Overview

Mission

To foster, enhance and extend the cultural heritage of west virginia by providing services and opportunities to west virginia artisans. The foundation's purposes is purely educational and charitable.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$165,759$327,740▲ $161,981
Savings and Temporary Cash Investments$187,168$187,262▲ $94
Pledges and Grants Receivable$62,373$47,478▼ $14,895
Other Notes and Loans Receivable, Net-$2,909-
Accounts Receivable$1,745$515▼ $1,230
Total Assets$417,045$565,904▲ $148,859
Liabilities
Deferred Revenue$7,457$112,245▲ $104,788
Accounts Payable and Accrued Expenses$13,719$37,931▲ $24,212
Total Liabilities$21,176$150,176▲ $129,000
Net Assets / Fund Balance
Unrestricted Net Assets$324,137$353,996▲ $29,859
Temporarily Rstr Net Assets$71,732$61,732▼ $10,000
Total Net Assets Fund Balance$395,869$415,728▲ $19,859
Total Liabilities and Net Assets / Fund Balance$417,045$565,904▲ $148,859
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Alissa NovoselickExecutive DiFT$53,388$53,388

Board Members and Trustees

NameTitle
Deborah SizemoreChairperson
Nikki BowmanVice Chairpe
Cathy SmithBoard Member
Christine KellerBoard Member
Deb HartshornBoard Member
Georgette GeorgeBoard Member
Joel ElbertBoard Member
Mark SaddBoard Member
Melinda WallsBoard Member
Michael MillsBoard Member
Lois CrichtonFinance Comm
Revenue and Support

Revenue Composition

Contributions and Grants
$354,492
Program Service Revenue
$0
Investment Income
$125
Other Revenue
$0
All Other Contributions
$49,340
Change in Net Assets
$19,859

Audited Revenue Reconciliation

Revenue per Audited Statements
$354,617
Total Revenue per Audited Statements
$354,617
Total Revenue per Form 990
$354,617
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$324,758
Total Fundraising Expense$41,763
Grants and Similar Amounts Paid$10,000
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$7,750$18,765$7,576$34,091
Other Expenses$17,050$21,248$21,248$17,050
Advertising--$12,939$12,939
Grants to Domestic Individuals$10,000--$10,000
Office Expenses-$7,842-$7,842
Fees for Services Accounting-$3,250-$3,250
Insurance-$3,209-$3,209
Occupancy-$3,000-$3,000
Total Functional Expenses$235,681$57,314$41,763$334,758

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$334,758
Total Expenses per Audited Statements$334,758
Total Expenses per Form 990$334,758
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

At a board of directors meeting dated july 22, 2016 a draft of the federal form 990 was provided to each of the board members along with a checklist for board review of the 990 developed by practioners publishing company. Also, the independent accountant and preparer of the 990 appeared at this board meeting and reviewed and answered questions regarding it. Further in order for the board members to have ample time to review, the document was not filed until approximately two weeks later in order for the board members to ask further questions of the independent accoutant.

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

Board of directors performs annual review and approval of the executive directors compensation.

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

NOT APPLICABLE

Form 990, Page 6, Part VI, Line 19

Such documents are available upon request.

Filing and Contact Details

Filer

Filer Name
Tamarack Foundation Inc
EIN
13-4219221
Address
3310 PIEDMONT ROAD, CHARLESTON, WV 25306

Signing Officer

Name
Alissa Novoselick
Title
Executive Director
Signed
2016-08-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Alissa Novoselick
Formed
2000
Legal Domicile
Wv
Voting Board Members
11
Independent Board Members
11
Employees
0

Preparer

Firm
Mark Collins CPA
Address
PO BOX 513, MABSCOTT, WV 25871
Preparer
Mark a Collins CPA
Phone
3042558928
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24E

Meetings and training 0 8,404 0 other funraising exp. 0 0 7,576 professional development 0 7,183 0 grant writing consultant 4,250 0 0 honorariums 3,500 0 0 telephone 0 1,678 0 provision for uncollect. 0 1,500 0

Form 990, Page 12, Part XII, Line 2C

At each meeting of the board of directors, a review by staff of the organization's internally produced is performed and documented in the related minutes. Further annually the independent cpa appears at a board meeeting in order to present and review with the board of directors the annual reviewed financial statement of the organziation.

Financial Statement Notes

Schedule D, Page 3, Part X

The footnotes to the reviewed financial statements indicate the following: income taxes: there is no provision for federal or state income taxes on income since the organization is an exempt nonprofit association under internal revenue code section 501(3). Management believes there is no unrelated business taxable income associated with the organization. The organization adopted financial accounting standards codification topic "accounting for uncertainty in income taxes", which addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under this guidance, the organization may recognize the tax benefit from an uncertain tax position only if it is more-likely-than-not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has greater than 50% likelihood of being realized upon ultimate settlement. The organization is generally no longer subject to examination by income taxing authorities for years ending prior to december 31, 2012.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOOTNOTES TO THE REVIEWED FINANCIAL STATEMENTS INDICATE THE FOLLOWING: INCOME TAXES: THERE IS NO PROVISION FOR FEDERAL OR STATE INCOME TAXES ON INCOME SINCE THE ORGANIZATION IS AN EXEMPT NONPROFIT ASSOCIATION UNDER INTERNAL REVENUE CODE SECTION 501(3). MANAGEMENT BELIEVES THERE IS NO UNRELATED BUSINESS TAXABLE INCOME ASSOCIATED WITH THE ORGANIZATION. THE ORGANIZATION ADOPTED FINANCIAL ACCOUNTING STANDARDS CODIFICATION TOPIC "ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES", WHICH ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THIS GUIDANCE, THE ORGANIZATION MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE-LIKELY-THAN-NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM SUCH A POSITION ARE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE ORGANIZATION IS GENERALLY NO LONGER SUBJECT TO EXAMINATION BY INCOME TAXING AUTHORITIES FOR YEARS ENDING PRIOR TO DECEMBER 31, 2012.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0AT A BOARD OF DIRECTORS MEETING DATED JULY 22, 2016 A DRAFT OF THE FEDERAL FORM 990 WAS PROVIDED TO EACH OF THE BOARD MEMBERS ALONG WITH A CHECKLIST FOR BOARD REVIEW OF THE 990 DEVELOPED BY PRACTIONERS PUBLISHING COMPANY. ALSO, THE INDEPENDENT ACCOUNTANT AND PREPARER OF THE 990 APPEARED AT THIS BOARD MEETING AND REVIEWED AND ANSWERED QUESTIONS REGARDING IT. FURTHER IN ORDER FOR THE BOARD MEMBERS TO HAVE AMPLE TIME TO REVIEW, THE DOCUMENT WAS NOT FILED UNTIL APPROXIMATELY TWO WEEKS LATER IN ORDER FOR THE BOARD MEMBERS TO ASK FURTHER QUESTIONS OF THE INDEPENDENT ACCOUTANT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD OF DIRECTORS PERFORMS ANNUAL REVIEW AND APPROVAL OF THE EXECUTIVE DIRECTORS COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NOT APPLICABLE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3SUCH DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4MEETINGS AND TRAINING 0 8,404 0 OTHER FUNRAISING EXP. 0 0 7,576 PROFESSIONAL DEVELOPMENT 0 7,183 0 GRANT WRITING CONSULTANT 4,250 0 0 HONORARIUMS 3,500 0 0 TELEPHONE 0 1,678 0 PROVISION FOR UNCOLLECT. 0 1,500 0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5AT EACH MEETING OF THE BOARD OF DIRECTORS, A REVIEW BY STAFF OF THE ORGANIZATION'S INTERNALLY PRODUCED IS PERFORMED AND DOCUMENTED IN THE RELATED MINUTES. FURTHER ANNUALLY THE INDEPENDENT CPA APPEARS AT A BOARD MEEETING IN ORDER TO PRESENT AND REVIEW WITH THE BOARD OF DIRECTORS THE ANNUAL REVIEWED FINANCIAL STATEMENT OF THE ORGANZIATION.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 24E
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 12, PART XII, LINE 2C
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IRS990/USAddress/StateAbbreviationCd0WV
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ReturnHeader/BuildTS02016-12-15 16:53:06Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0ALISSA NOVOSELICK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-08-26
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0TAMARACK FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0TAMA
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MARK COLLINS CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 513
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MABSCOTT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0WV
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ReturnHeader/PreparerPersonGrp/PhoneNum03042558928
ReturnHeader/PreparerPersonGrp/PreparationDt02016-07-29
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MARK A COLLINS CPA
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ReturnHeader/ReturnTs02016-07-29T07:17:53-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-01-01
ReturnHeader/TaxPeriodEndDt02015-12-31

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.95$0.22$3.74$4.28$5.22$0.95
2023Summary only. Only limited summary data is available for this year.$5.00$0.31$4.68$4.43$5.70$1.27
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.17$0.22$5.95$4.73$4.76$0.03
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.05$0.07$5.98$4.53$2.84$1.69
2020Summary only. Only limited summary data is available for this year.$4.41$0.12$4.29$1.47$2.09$0.62
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.16$0.26$4.91$1.67$2.00$0.33
2018Summary only. Only limited summary data is available for this year.$5.41$0.17$5.24$2.28$2.00$0.28
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.12$0.16$4.96$2.22$2.72$0.49
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.26$0.81$5.45$4.38$3.08$1.30
2015Detailed filing. Detailed filing data is available for this year.$5.66$1.50$4.16$3.55$3.35$0.20
2014Detailed filing. Detailed filing data is available for this year.$4.17$0.21$3.96$3.83$4.02$0.19
2013Detailed filing. Detailed filing data is available for this year.$4.64$0.49$4.15$3.51$3.25$0.26
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.08$0.19$3.90$3.70
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.76$0.09$2.66$3.17