Civic Intelligence

Assad Abood Foundation Inc.

990 • Fiscal year 2016 • EIN 13-6121959

Jun 01, 2015 to May 31, 2016 • Filed on Apr 11, 2017

20600 Chagrin BoulevardCleveland, OH 44122

(216) 561-9200

Siviq Scores

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

Liabilities / Assets

28th percentile

0.02x

Higher debt load relative to assets than 28% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

34th percentile

0.05x

Higher debt load relative to revenue than 34% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

28th percentile

-5.4%

Higher net margin than 28% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

99th percentile

322%

Faster asset growth than 99% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

75th percentile

18%

Faster revenue growth than 75% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Assets

Up

$1,474,565

Up $1,124,948 (+322%) from 2015

Net Assets

Up

$1,451,380

Up $1,101,763 (+315%) from 2015

Liabilities

Up

$23,185

Up $23,185 from 2015

Revenue

Up

$511,915

Up $77,380 (+18%) from 2015

Expenses

Up

$539,377

Up $15,797 (+3.0%) from 2015

Net Income

Up

-$27,462

Up $61,583 (+69%) from 2015

Historical Trend

Balance Sheet Trend

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

$1.5M$1.0M$500K$0-$500KAssets 2011: $476,017Liabilities 2011: $66,509Net Assets 2011: $409,5082011Assets 2012: $459,328Liabilities 2012: $66,327Net Assets 2012: $393,0012012Assets 2013: $437,685Liabilities 2013: $48,677Net Assets 2013: $389,0082013Assets 2014: $426,589Liabilities 2014: -$12,073Net Assets 2014: $438,6622014Assets 2015: $349,617Liabilities 2015: $0Net Assets 2015: $349,6172015Assets 2016: $1,474,565Liabilities 2016: $23,185Net Assets 2016: $1,451,3802016Assets 2017: $1,455,413Liabilities 2017: $23,147Net Assets 2017: $1,432,2662017Assets 2018: $539,751Liabilities 2018: $2,814Net Assets 2018: $536,9372018Assets 2019: $513,776Liabilities 2019: $111,107Net Assets 2019: $402,6692019Assets 2020: $521,778Liabilities 2020: $242,961Net Assets 2020: $278,8172020Assets 2021: $640,333Liabilities 2021: $249,212Net Assets 2021: $391,1212021Assets 2022: $563,972Liabilities 2022: $227,212Net Assets 2022: $336,7602022Assets 2023: $555,634Liabilities 2023: $227,212Net Assets 2023: $328,4222023Assets 2024: $708,054Liabilities 2024: $0Net Assets 2024: $708,0542024Assets 2025: $778,768Liabilities 2025: $0Net Assets 2025: $778,7682025

Highlighted filing

2016

Assets$1,474,565
Liabilities$23,185
Net Assets$1,451,380

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2011: $346,577Expenses 2011: $379,481Net Income 2011: -$32,9042011Revenue 2012: $328,486Expenses 2012: $344,993Net Income 2012: -$16,5072012Revenue 2013: $463,621Expenses 2013: $467,614Net Income 2013: -$3,9932013Revenue 2014: $524,110Expenses 2014: $474,456Net Income 2014: $49,6542014Revenue 2015: $434,535Expenses 2015: $523,580Net Income 2015: -$89,0452015Revenue 2016: $511,915Expenses 2016: $539,377Net Income 2016: -$27,4622016Revenue 2017: $466,111Expenses 2017: $485,225Net Income 2017: -$19,1142017Revenue 2018: $783,077Expenses 2018: $504,139Net Income 2018: $278,9382018Revenue 2019: $401,392Expenses 2019: $483,973Net Income 2019: -$82,5812019Revenue 2020: $231,262Expenses 2020: $286,104Net Income 2020: -$54,8422020Revenue 2021: $240,486Expenses 2021: $290,459Net Income 2021: -$49,9732021Revenue 2022: $204,220Expenses 2022: $195,961Net Income 2022: $8,2592022Revenue 2023: $128,366Expenses 2023: $73,560Net Income 2023: $54,8062023Revenue 2024: $238,058Expenses 2024: $190,221Net Income 2024: $47,8372024Revenue 2025: $261,658Expenses 2025: $232,429Net Income 2025: $29,2292025

Highlighted filing

2016

Revenue$511,915
Expenses$539,377
Net Income-$27,462
Jump To
Filing Snapshot
Filing Period
Jun 1, 2015 to May 31, 2016
Signed
Apr 11, 2017
Return Version
2015v3.0
Gross Receipts
$945,187
Mission and Program Overview

Mission

The mission of the assad abood foundation inc is to give financial aid, assistance & support to the assad abood public school in aitaneet, lebanon with the goal of ultimately providing tuition-free education for the village of aitaneet & surrounding villages. The foundation hopes that those helped by it will give back to the school to perpetuate the work of the foundation.

The assad abood foundation inc is an organization committed to providing financial support to the assad abood public school in aitaneet, lebanon

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$268,382$229,663▼ $38,719
Cash and Non-Interest-Bearing Accounts$9,232$136,127▲ $126,895
Land, Buildings, and Equipment, Net$72,003$71,063▼ $940
Investments Other Securities-$19,432-
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$1,478,843$1,474,565▼ $4,278
Other Assets Total$1,129,226$1,018,280▼ $110,946
Liabilities
Unsecured Notes Loans Payable-$23,185-
Total Liabilities$0$23,185▲ $23,185
Net Assets / Fund Balance
Permanently Rstr Net Assets$1,129,226$1,018,280▼ $110,946
Unrestricted Net Assets$349,617$433,100▲ $83,483
Total Net Assets Fund Balance$1,478,843$1,451,380▼ $27,463
Total Liabilities and Net Assets / Fund Balance$1,478,843$1,474,565▼ $4,278

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$19,222$132,242$151,464
Leasehold Improvements$44,773$88,685$133,458
Buildings-$101,079$101,079
Land$7,068-$7,068
Other Assets Org$1,018,280--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$1,129,226-▼ $55,016$55,930$1,018,280
2014$1,129,226-▲ $42,019$42,545$1,129,226
Compensation and Service Providers

Board Members and Trustees

NameTitle
Dr Wayne DaumPresident & CEO
Roger AboodVice President
Aj MaghesDirector
Amy SergoDirector
Bob RassieDirector
Carl NahraDirector
Charles NajmDirector
Lisa MlynekDirector
Madeleine IskanderDirector
Maroun DaherDirector
Maurice AboodDirector
Michael DebsDirector
Tony DaherDirector
Tania NemerSecretary
Nassib AbboudTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$201,140
Program Service Revenue
$356,466
Investment Income
$-45,691
Other Revenue
$0
All Other Contributions
$6,000
Change in Net Assets
$-27,462
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$383,244
Other Expenses$156,133
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$354,246--$354,246
Occupancy$48,114--$48,114
Travel$34,335--$34,335
Payroll Taxes$28,998--$28,998
Fees for Services Legal-$12,869-$12,869
Fees for Service Investment Mgmnt Fees-$12,299-$12,299
Depreciation Depletion-$10,145-$10,145
Other Expenses$2,653$2,460-$2,653
Insurance$2,653--$2,653
Total Functional Expenses$501,604$37,773$0$539,377
International Activity

International Summary

Offices
1
Spending
$501,604

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
LebanonOperation of School-10$501,604
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Backup withholding compliance
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

No review was or will be conducted.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

No documents available to the public.

Filing and Contact Details

Filer

Filer Name
Assad Abood Foundation Inc
EIN
13-6121959
Phone
2165619200
Address
20600 CHAGRIN BOULEVARD, CLEVELAND, OH 44122

Signing Officer

Name
Keith Abood
Title
Treasurer
Signed
2017-04-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Wayne Daum
Formed
1949
Legal Domicile
Ny
Voting Board Members
15
Independent Board Members
15
Employees
0
Volunteers
15

Preparer

Firm
Dingus & Daga Inc
Address
20600 Chagrin Blvd Ste 701, Cleveland, OH 44122
Preparer
Debra Rush
Phone
2165619200
Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Decreases

ROUNDING = -$1

Financial Statement Notes

Part V, Line 4: Intended uses of the endowment fund.

Endowment earnings are to be used to further the charitable purposes of the organization and its mission.

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IRS990/LobbyingActivitiesInd0false
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IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingCashInd0X
IRS990/MinutesOfCommitteesInd0true
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IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
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IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
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IRS990/OtherExpensesGrp/Desc0SUPPLIES AND UNIFORMS
IRS990/OtherExpensesGrp/Desc1OTHER EXPENSES
IRS990/OtherExpensesGrp/Desc2STUDENT ACTIVITIES
IRS990/OtherExpensesGrp/Desc3TELEPHONE
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IRS990/OtherExpensesGrp/ProgramServicesAmt12829
IRS990/OtherExpensesGrp/ProgramServicesAmt23608
IRS990/OtherExpensesGrp/ProgramServicesAmt32653
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IRS990/OtherExpensesGrp/TotalAmt15289
IRS990/OtherExpensesGrp/TotalAmt23608
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IRS990/OtherSalariesAndWagesGrp/TotalAmt0354246
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IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
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IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0WAYNE DAUM
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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
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IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt042545
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0242911
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0194509
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt050033
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0250056
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0261797
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt01495684
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt036537
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt09287
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt019056
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt016656
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IRS990ScheduleA/InvestmentIncomeCYPct00.04870
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IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
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IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt00
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0397998
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0514823
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0444565
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0311830
IRS990ScheduleA/Total509Grp/TotalAmt02220822
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0583734

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.78$0.00$0.78$0.26$0.23$0.03
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.71$0.00$0.71$0.24$0.19$0.05
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.56$0.23$0.33$0.13$0.07$0.05
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.56$0.23$0.34$0.20$0.20$0.01
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.64$0.25$0.39$0.24$0.29$0.05
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.52$0.24$0.28$0.23$0.29$0.05
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.51$0.11$0.40$0.40$0.48$0.08
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.54$0.00$0.54$0.78$0.50$0.28
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.46$0.02$1.43$0.47$0.49$0.02
2016Detailed filing. Detailed filing data is available for this year.$1.47$0.02$1.45$0.51$0.54$0.03
2015Detailed filing. Detailed filing data is available for this year.$0.35$0.00$0.35$0.43$0.52$0.09
2014Summary only. Only limited summary data is available for this year.$0.43$0.01$0.44$0.52$0.47$0.05
2013Summary only. Only limited summary data is available for this year.$0.44$0.05$0.39$0.46$0.47$0.00
2012Summary only. Only limited summary data is available for this year.$0.46$0.07$0.39$0.33$0.34$0.02
2011Summary only. Only limited summary data is available for this year.$0.48$0.07$0.41$0.35$0.38$0.03
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2016 filings • 501(c)3 • $1M-$5M nonprofits