Civic Intelligence

Knowledgefunding Ohio Inc

990 • Fiscal year 2011 • EIN 20-1888000

Jul 01, 2010 to Jun 30, 2011 • Filed on May 03, 2012

Organization Profilewww.knowledgeworks.org
One West Fourth Street No 25045202-3634
Siviq Scores

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

Liabilities / Assets

95th percentile

1.04x

Higher debt load relative to assets than 95% of similar nonprofits.

2011 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2011

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2011

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on this filing.

Source year 2011

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2011

Asset Growth

3rd percentile

-14%

Faster asset growth than 3% of similar nonprofits.

2011 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2010 to 2011

Revenue Growth

Score unavailable

No value available

No valid filing value is available for this score.

Balance Sheet
Liabilities / Assets95th percentile

Assets

Down

$321,039,161

Down $52,018,762 (-14%) from 2010

Net Assets

Down

-$13,991,946

Down $9,003,836 (-181%) from 2010

Liabilities

Down

$335,031,107

Down $43,014,926 (-11%) from 2010

Revenue And Expenses
Liabilities / RevenueScore unavailableNet MarginScore unavailable

Revenue

-

No earlier filing loaded for comparison.

Expenses

Up

$20,690,592

Up $9,140,850 (+79%) from 2010

Net Income

-

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth3rd percentile

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

$400M$300M$200M$100M$0-$100MAssets 2010: $373,057,923Liabilities 2010: $378,046,033Net Assets 2010: -$4,988,1102010Assets 2011: $321,039,161Liabilities 2011: $335,031,107Net Assets 2011: -$13,991,9462011Assets 2012: $300,126,374Liabilities 2012: $313,285,034Net Assets 2012: -$13,158,6602012Assets 2013: $1,258,117Liabilities 2013: $0Net Assets 2013: $1,258,1172013Assets 2014: $1,226,617Liabilities 2014: $0Net Assets 2014: $1,226,6172014Assets 2015: $1,097,472Liabilities 2015: $0Net Assets 2015: $1,097,4722015Assets 2016: $940,972Liabilities 2016: $0Net Assets 2016: $940,9722016Assets 2017: $490,322Liabilities 2017: $0Net Assets 2017: $490,3222017Assets 2018: $0Liabilities 2018: $0Net Assets 2018: $02018

Highlighted filing

2011

Assets$321,039,161
Liabilities$335,031,107
Net Assets-$13,991,946
Open 2011 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$30M$20M$10M$0-$10MExpenses 2010: $11,549,7422010Expenses 2011: $20,690,5922011Expenses 2012: $9,434,4732012Revenue 2013: $25,164,662Expenses 2013: $3,527,251Net Income 2013: $21,637,4112013Revenue 2014: $0Expenses 2014: $39,000Net Income 2014: -$39,0002014Revenue 2015: $0Expenses 2015: $134,145Net Income 2015: -$134,1452015Revenue 2016: $0Expenses 2016: $156,500Net Income 2016: -$156,5002016Revenue 2017: $0Expenses 2017: $450,650Net Income 2017: -$450,6502017Revenue 2018: $0Expenses 2018: $490,322Net Income 2018: -$490,3222018

Highlighted filing

2011

Revenue-
Expenses$20,690,592
Net Income-
Open 2011 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2010 to Jun 30, 2011
Signed
May 3, 2012
Return Version
2010v3.4
Gross Receipts
$9,901,234
Mission and Program Overview

Mission

KnowledgeFunding Ohio, Inc. (KFO) established a grant making program to support the charitable and educational purposes of one or more organizations located in Ohio that are exempt from federal income tax under section 501(c)(3) of the code.

Filing and Contact Details

Filer

EIN
20-1888000
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IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation0July 1, 2009, KFO adopted FASB ASC 740, Income Taxes, which prescribed a comprehensive model for how an organization should measure, recognize, present, and disclose in its financial statements uncertain tax positions that an organization has taken or expects to take on a tax return. KFO has analyzed tax positions taken for filing with the Internal Revenue Service and all state jurisdictions where it operates. KFO believes that income tax filing positions will be sustained upon examination and does not anticipate any adjustments that would result in a material adverse affect on KFO's financial position, statements of activities, or cash flows. Accordingly, KFO has not recorded any reserves or related accruals for interest and penalties for uncertain income tax positions at June 30, 2011 and 2010. In the event interest and penalties accrued on unrecognized tax benefits, KFO would recognize such amounts as a component of income tax expense.
IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation1Amortization of Discount on External Loan Purchases 1,785,522.
IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation2Consolidation loan rebate fees & student loan write offs -2,456,768. Amortization of student loan acquisition costs -1,505,836. Consolidation loan rebate fees & student loan write offs -230,573. Amortization of discount on external loan purchases 1,785,522.
IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation3Consolidation loan rebate fees -2,456,768. Amortization of student loan acquisition costs -1,505,836. Student loan write offs -230,573. Loss on sale of loans to KnowledgeWorks Foundation 10,880,059.
IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation4Loss on Sale of Loans 10,880,059.
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IRS990ScheduleJ/Form990ScheduleJPartII/CompReportPrior990RelatedOrgs0786196
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IRS990ScheduleJ/Form990ScheduleJPartII/CompReportPrior990RelatedOrgs20
IRS990ScheduleJ/Form990ScheduleJPartII/CompReportPrior990RelatedOrgs30
IRS990ScheduleJ/Form990ScheduleJPartII/DeferredCompFilingOrg00
IRS990ScheduleJ/Form990ScheduleJPartII/DeferredCompFilingOrg12500
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IRS990ScheduleJ/Form990ScheduleJPartII/DeferredCompRelatedOrgs0144572
IRS990ScheduleJ/Form990ScheduleJPartII/DeferredCompRelatedOrgs19900
IRS990ScheduleJ/Form990ScheduleJPartII/DeferredCompRelatedOrgs232920
IRS990ScheduleJ/Form990ScheduleJPartII/DeferredCompRelatedOrgs325422
IRS990ScheduleJ/Form990ScheduleJPartIII/Explanation0Part I, Line 3: KnowledgeWorks Foundation, a related organization of KnowledgeFunding Ohio, Inc., uses the following to establish the compensation of the organization's CEO: - Compensation Committee, - Independent Compensation Consultant, - Form 990 of Other Organizations, - Written Employment Contract, - Compensation Survey or Study, and - Approval by the Board or Compensation Committee. Part I, Line 4b: Contribution to 457(f) Plan: Chad Wick, $105,108 from related organization. The 457(f) Plan is a nonqualified retirement plan for the KnowledgeWorks Foundation CEO. Part I, Line 7: KnowledgeWorks Foundation, KnowledgeFunding Ohio, Inc.'s parent organization, offers an individual incentive based bonus program, where the annual payout is determined by a discretionary evaluation of each person's performance.
IRS990ScheduleJ/Form990ScheduleJPartIII/Explanation1Schedule J, Part II: Description of Chad Wick's Compensation: In June 2010, Chad P. Wick, then KnowledgeWorks Foundation's President and CEO, reached the vesting date of his deferred compensation plan ("Plan") with KnowledgeWorks Foundation. As a result, the balance in the Plan, $1,220,925, was paid to Mr. Wick by KnowledgeWorks Foundation. This balance represented amounts earned by Mr. Wick in the Plan (and related interest) over 11 years. Of the amount paid in 2010, $786,198 was previously reported on prior years' Forms 990 as deferred compensation. The Plan was reviewed and approved by KnowledgeWorks Foundation's independent Human Resources and Compensation Committee. The Committee relied on an independent compensation consultant which advised it that Mr. Wick's compensation (including accruals under the Plan) was reasonable. This determination considered Mr. Wick's responsibilities for KnowledgeWorks Foundation and its related organizations which include KWI, KnowledgeFunding Ohio, Inc., Student LendingWorks, Inc., New Technology Foundation, KnowledgeWorks Intermediary, LLC, Edworks, LLC, New Technology Network, LLC, Strive, LLC and KWSL, LLC. These organizations had collective revenues of $29,157,000, expenses of $42,653,000 and assets of $653,547,000.
IRS990ScheduleJ/Form990ScheduleJPartIII/Identifier0Supplemental Information
IRS990ScheduleJ/Form990ScheduleJPartIII/Identifier1Supplemental Information

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2011 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$321,039,161
Liabilities
$335,031,107
Net assets
-$13,991,946
Revenue
-
Expenses
$20,690,592
Net income
-
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.00$0.00$0.00$0.00$0.49$0.49
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.49$0.00$0.49$0.00$0.45$0.45
2016Detailed filing. Detailed filing data is available for this year.$0.94$0.00$0.94$0.00$0.16$0.16
2015Detailed filing. Detailed filing data is available for this year.$1.10$0.00$1.10$0.00$0.13$0.13
2014Detailed filing. Detailed filing data is available for this year.$1.23$0.00$1.23$0.00$0.04$0.04
2013Summary only. Only limited summary data is available for this year.$1.26$0.00$1.26$25.2$3.53$21.6
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$300$313$13.2$9.43
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$321$335$14.0$20.7
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$373$378$4.99$11.5