Civic Intelligence

Friends of Mcmaster Inc

EIN 13-6163055 • 501(c)3 • Hamilton, Ontario, CA

Profile

Friends of mcmaster, inc.'s purpose is to solicit, receive, manage and distribute money and other property to support education and research at mcmaster university.

1280 Main St West OJN 420Hamilton, Ontario L8S 4L8CA

www.mcmaster.ca

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

93rd percentile

0.94x

Higher debt load relative to assets than 93% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

25th percentile

0.00x

Higher debt load relative to revenue than 25% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

39th percentile

0.0%

Higher net margin than 39% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

93rd percentile

$254,732

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 5.5% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

97th percentile

222%

Faster asset growth than 97% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

97th percentile

315%

Faster revenue growth than 97% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Up

$20,193

Up $13,929 (+222%) from 2023

Liabilities

Up

$19,050

Up $13,906 (+270%) from 2023

Net Assets

Up

$1,143

Up $23 (+2.1%) from 2023

Operations
Liabilities / Revenue25th percentileNet Margin39th percentile

Revenue

Up

$4,622,725

Up $3,508,157 (+315%) from 2023

Expenses

Up

$4,622,702

Up $3,508,526 (+315%) from 2023

Net Income

Down

$23

Down $369 (-94%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth97th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $4,486Liabilities 2011: $3,400Net Assets 2011: $1,0862011Assets 2012: $31,827Liabilities 2012: $30,000Net Assets 2012: $1,8272012Assets 2013: $2,512Liabilities 2013: $1,100Net Assets 2013: $1,4122013Assets 2014: $940Liabilities 2014: $0Net Assets 2014: $9402014Assets 2015: $1,216Liabilities 2015: $0Net Assets 2015: $1,2162015Assets 2016: $67,183Liabilities 2016: $66,200Net Assets 2016: $9832016Assets 2017: $51,245Liabilities 2017: $50,350Net Assets 2017: $8952017Assets 2018: $55,838Liabilities 2018: $55,000Net Assets 2018: $8382018Assets 2019: $54,768Liabilities 2019: $54,000Net Assets 2019: $7682019Assets 2020: $59,676Liabilities 2020: $58,958Net Assets 2020: $7182020Assets 2021: $3,409,342Liabilities 2021: $3,408,850Net Assets 2021: $4922021Assets 2022: $2,002,637Liabilities 2022: $2,001,909Net Assets 2022: $7282022Assets 2023: $6,264Liabilities 2023: $5,144Net Assets 2023: $1,1202023Assets 2024: $20,193Liabilities 2024: $19,050Net Assets 2024: $1,1432024

Highlighted filing

2024

Assets$20,193
Liabilities$19,050
Net Assets$1,143
Open 2024 Filing

Operations Trend

Revenue Growth97th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$10M$5.0M$0-$5.0MExpenses 2011: $86,7022011Revenue 2012: $72,615Expenses 2012: $71,874Net Income 2012: $7412012Revenue 2013: $42,500Expenses 2013: $42,915Net Income 2013: -$4152013Revenue 2014: $154,600Expenses 2014: $155,072Net Income 2014: -$4722014Revenue 2015: $1,052,350Expenses 2015: $224Net Income 2015: $1,052,1262015Revenue 2016: $150,250Expenses 2016: $150,483Net Income 2016: -$2332016Revenue 2017: $138,972Expenses 2017: $139,060Net Income 2017: -$882017Revenue 2018: $890,800Expenses 2018: $890,857Net Income 2018: -$572018Revenue 2019: $1,538,420Expenses 2019: $1,538,490Net Income 2019: -$702019Revenue 2020: $151,514Expenses 2020: $151,564Net Income 2020: -$502020Revenue 2021: $8,608,370Expenses 2021: $8,608,596Net Income 2021: -$2262021Revenue 2022: $2,757,689Expenses 2022: $2,757,453Net Income 2022: $2362022Revenue 2023: $1,114,568Expenses 2023: $1,114,176Net Income 2023: $3922023Revenue 2024: $4,622,725Expenses 2024: $4,622,702Net Income 2024: $232024

Highlighted filing

2024

Revenue$4,622,725
Expenses$4,622,702
Net Income$23
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$20,193
Liabilities
$19,050
Net assets
$1,143
Revenue
$4,622,725
Expenses
$4,622,702
Net income
$23
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.02$0.02$0.00$4.62$4.62$0.00
2023Summary only. Only limited summary data is available for this year.$0.01$0.01$0.00$1.11$1.11$0.00
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.00$2.00$0.00$2.76$2.76$0.00
2021Summary only. Only limited summary data is available for this year.$3.41$3.41$0.00$8.61$8.61$0.00
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.06$0.06$0.00$0.15$0.15$0.00
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.05$0.05$0.00$1.54$1.54$0.00
2018Summary only. Only limited summary data is available for this year.$0.06$0.06$0.00$0.89$0.89$0.00
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.05$0.05$0.00$0.14$0.14$0.00
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.07$0.07$0.00$0.15$0.15$0.00
2015Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$1.05$0.00$1.05
2014Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.15$0.16$0.00
2013Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.04$0.04$0.00
2012Summary only. Only limited summary data is available for this year.$0.03$0.03$0.00$0.07$0.07$0.00
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.00$0.00$0.00$0.09
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Jan 1, 2025
Return Version
2024v5.2
Gross Receipts
$4,622,725
Mission and Program Overview

Mission

Friends of mcmaster, inc.'s purpose is to solicit, receive, manage and distribute money and other property to support education and research at mcmaster university.

Distribute money and other property to support education and research at mcmaster university.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$5,000$19,000▲ $14,000
Cash and Non-Interest-Bearing Accounts$1,264$1,193▼ $71
Savings and Temporary Cash Investments$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$6,264$20,193▲ $13,929
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$5,144$19,050▲ $13,906
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$5,144$19,050▲ $13,906
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,120$1,143▲ $23
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$1,120$1,143▲ $23
Total Liabilities and Net Assets / Fund Balance$6,264$20,193▲ $13,929
Compensation and Service Providers
Top Officer Pay93rd percentile

Employees

NameTitleOtherTotal
Ryan LiddellDirector$139,806$139,806
Luckson ZirevaDirector$43,177$43,177
Paul GrossmanDirector$8,248$8,248

Board Members and Trustees

NameTitle
Lili LitwinPresident
Gary SteinDirector
Heather ColwellDirector
Lauren CuddyDirector
Natraj RamachandranDirector
Lou M MittonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$4,621,725
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$1,000
All Other Contributions
$4,621,725
Change in Net Assets
$23

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,622,725
Total Revenue per Audited Statements
$4,622,725
Total Revenue per Form 990
$4,622,725
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$4,621,725
Other Expenses$977
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Foreign Grants$4,621,725--$4,621,725
Other Expenses$0$977$0$977
Total Functional Expenses$4,621,725$977$0$4,622,702

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$4,622,702
Total Expenses per Audited Statements$4,622,702
Total Expenses per Form 990$4,622,702
International Activity

International Summary

Offices
0
Employees
0
Spending
$4,622,702

International Compliance

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
North AmericaProgram ServicesResearch & Scholarship00$4,621,725
North AmericaGrantmaking-00$977
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
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
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Part VI - Line 6

“Friends of McMaster, Inc. was formed under the New York Membership Corporation Law. It is a supporting organziation for its sole member, McMaster University.”

Part VI - Line 7A

“McMaster University as the sole member of the organization elects members of the governing body.”

Part VI - Line 7B

“McMaster University as the sole member of the organization has the final determination of any decisions of the governing body. As the sole member of the organization, McMaster University maintains full voting rights over the organization.”

Part VI - Line 11(B)

“Form 990 is provided to Treasurer for review prior to filing. The Treasurer will review the return for accuracy and completeness.”

Part VI - Lines 15A & 15B

“The organization's top management, officers, and key employees are compensated by McMaster University. McMaster University has a remuneration committee whose primary function is to recommend to the board policies regarding salaries, wages, benefits and other forms of remuneration and to provide advice, as necessary, to the university administration administering such policies.”

Part VI - Line 19

“Information is made available upon written request from the public.”

Filing and Contact Details

Filer

Filer Name
Friends of McMaster Inc
EIN
13-6163055
In Care Of
% HELEN CHEN
Phone
9055259140
Address
CA

Signing Officer

Name
Lou Mitton
Title
Treasurer
Phone
9055259140
Signed
2025-01-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lou Mitton
Formed
1953
Legal Domicile
Ny
Voting Board Members
7
Independent Board Members
7
Employees
0

Preparer

Firm
Kpmg Llp
Address
CA
Preparer
Kathleen Li
Phone
9055238200
Supplemental Narrative

Additional Explanations

Part XII - Line 1

“The entity elects to use the Deferral Method of accounting as permitted under Part III (Accounting Standards for Not-for-Profit Organizations) of the CPA Canada Handbook. This is an accrual method of accounting that defers the recognition of contributions until certain criteria have been met.”

Raw XML AppendixShowing 400 of 554 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/CYOtherExpensesAmt0977
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IRS990/CYRevenuesLessExpensesAmt023
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IRS990/DescribedInSection501c3Ind0true
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IRS990/Form990PartVIISectionAGrp/TitleTxt3Director
IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
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IRS990/MissionDesc0FRIENDS OF MCMASTER, INC.'S PURPOSE IS TO SOLICIT, RECEIVE, MANAGE AND DISTRIBUTE MONEY AND OTHER PROPERTY TO SUPPORT EDUCATION AND RESEARCH AT MCMASTER UNIVERSITY.
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0Friends of McMaster, Inc. was formed to support the activities of McMaster University. McMaster University is not a private foundation because it is an organization described in IRC section 509(a)(1) by virtue of being an IRC section 170(b)(1)(A)(ii) organization. Friends of McMaster, Inc. is governed by a Board of Directors having seven members. Four of the directors are executive level employees of McMaster University and the remaining three are alumni of McMaster University. Accordingly, since a majority of the board members of Friends of McMaster Inc. are also involved in the supervision of the affairs of its supported entity, McMaster University, the requirements of IRC section 509(a)(3) should be satisfied.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0SCHEDULE A, PART IV, Section C
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IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt0North America
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IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt0Research & Scholarship
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IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt0To support education and research programs at McMaster University.
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