Civic Intelligence

Agganis Foundation Inc.

990 • Fiscal year 2016 • EIN 20-2059030

Jan 01, 2016 to Dec 31, 2016 • Filed on Jan 08, 2018

Organization Profilewww.agganisfoundation.com
2 Arthur AvenueMarblehead, MA 01945

(781) 581-4214

Siviq Scores

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

Liabilities / Assets

22nd percentile

0.01x

Higher debt load relative to assets than 22% of similar nonprofits.

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

Liabilities / Revenue

40th percentile

0.06x

Higher debt load relative to revenue than 40% of similar nonprofits.

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

Net Margin

17th percentile

-17%

Higher net margin than 17% 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

38th percentile

-1.5%

Faster asset growth than 38% of similar nonprofits.

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

Revenue Growth

89th percentile

54%

Faster revenue growth than 89% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets22nd percentile

Assets

Down

$1,079,702

Down $16,173 (-1.5%) from 2015

Net Assets

Down

$1,073,402

Down $16,523 (-1.5%) from 2015

Liabilities

Up

$6,300

Up $350 (+5.9%) from 2015

Revenue And Expenses
Liabilities / Revenue40th percentileNet Margin17th percentile

Revenue

Up

$99,431

Up $34,743 (+54%) from 2015

Expenses

Up

$115,954

Up $5,944 (+5.4%) from 2015

Net Income

Up

-$16,523

Up $28,799 (+64%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth38th percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2010: $919,495Liabilities 2010: $5,800Net Assets 2010: $913,6952010Assets 2011: $840,296Liabilities 2011: $5,800Net Assets 2011: $834,4962011Assets 2012: $907,265Liabilities 2012: $6,000Net Assets 2012: $901,2652012Assets 2013: $1,156,325Liabilities 2013: $5,950Net Assets 2013: $1,150,3752013Assets 2014: $1,141,197Liabilities 2014: $5,950Net Assets 2014: $1,135,2472014Assets 2015: $1,095,875Liabilities 2015: $5,950Net Assets 2015: $1,089,9252015Assets 2016: $1,079,702Liabilities 2016: $6,300Net Assets 2016: $1,073,4022016Assets 2017: $1,251,323Liabilities 2017: $6,300Net Assets 2017: $1,245,0232017Assets 2018: $1,137,147Liabilities 2018: $6,750Net Assets 2018: $1,130,3972018Assets 2019: $1,322,015Liabilities 2019: $6,750Net Assets 2019: $1,315,2652019Assets 2020: $1,430,937Liabilities 2020: $6,750Net Assets 2020: $1,424,1872020Assets 2021: $1,642,197Liabilities 2021: $7,000Net Assets 2021: $1,635,1972021Assets 2022: $1,391,216Liabilities 2022: $3,499Net Assets 2022: $1,387,7172022Assets 2023: $1,683,552Liabilities 2023: $3,500Net Assets 2023: $1,680,0522023Assets 2024: $1,869,839Liabilities 2024: $7,000Net Assets 2024: $1,862,8392024

Highlighted filing

2016

Assets$1,079,702
Liabilities$6,300
Net Assets$1,073,402
Open 2016 Filing

Operations Trend

Revenue Growth89th percentile

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

$600K$400K$200K$0-$200K-$400KExpenses 2010: $113,3672010Expenses 2011: $111,4082011Expenses 2012: $110,0602012Revenue 2013: $372,465Expenses 2013: $123,355Net Income 2013: $249,1102013Revenue 2014: $107,524Expenses 2014: $122,653Net Income 2014: -$15,1292014Revenue 2015: $64,688Expenses 2015: $110,010Net Income 2015: -$45,3222015Revenue 2016: $99,431Expenses 2016: $115,954Net Income 2016: -$16,5232016Revenue 2017: $289,057Expenses 2017: $125,436Net Income 2017: $163,6212017Revenue 2018: $27,000Expenses 2018: $141,626Net Income 2018: -$114,6262018Revenue 2019: $417,888Expenses 2019: $233,020Net Income 2019: $184,8682019Revenue 2020: $263,338Expenses 2020: $154,416Net Income 2020: $108,9222020Revenue 2021: $354,684Expenses 2021: $143,674Net Income 2021: $211,0102021Revenue 2022: $265,924Expenses 2022: $513,404Net Income 2022: -$247,4802022Revenue 2023: $447,023Expenses 2023: $154,688Net Income 2023: $292,3352023Revenue 2024: $348,073Expenses 2024: $149,286Net Income 2024: $198,7872024

Highlighted filing

2016

Revenue$99,431
Expenses$115,954
Net Income-$16,523
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Jan 8, 2018
Return Version
2016v3.0
Gross Receipts
$527,572
Mission and Program Overview

Mission

To provide college scholarships to deserving student athletes

To further the memory of Harry Agganis through a program of scholarships for deserving student athletes and a series of all-star sporting events for high school athletes.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$828,093$861,384▲ $33,291
Investments Other Securities$241,000$208,958▼ $32,042
Cash and Non-Interest-Bearing Accounts$26,782$9,360▼ $17,422
Total Assets$1,095,875$1,079,702▼ $16,173
Liabilities
Accounts Payable and Accrued Expenses$5,950$6,300▲ $350
Total Liabilities$5,950$6,300▲ $350
Net Assets / Fund Balance
Unrestricted Net Assets$1,089,925$1,073,402▼ $16,523
Total Net Assets Fund Balance$1,089,925$1,073,402▼ $16,523
Total Liabilities and Net Assets / Fund Balance$1,095,875$1,079,702▼ $16,173

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$4,994--
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Thomas C DemakisChairman
Edward M GrantPresident
Matin C Goldman EsqDirector
Thomas IarrobinoDirector
Thomas L DemakesDirector
Stephen L SmithClerk
Michael H ShanahanTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$18,000
Program Service Revenue
$0
Investment Income
$22,777
Other Revenue
$58,654
All Other Contributions
$18,000
Change in Net Assets
$-16,523

Audited Revenue Reconciliation

Revenue per Audited Statements
$99,431
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$99,431
Total Revenue per Form 990
$99,431
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$115,954
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$4,729$4,954-$9,683
Fees for Services Accounting-$6,300-$6,300
Other Expenses$61,000$5,046-$5,046
Office Expenses-$632-$632
Total Functional Expenses$65,729$50,225$0$115,954

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$115,954
Total Expenses per Audited Statements$115,954
Total Expenses per Form 990$115,954
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, line 11B

“The Treasurer receives a draft of Form 990 from independent accountant and reviews and recommends changes to the return before accountant finalizes the return. The Chairman of the Board and the President review the final copy before it is filed also.”

Form 990, Part VI, Section B, line 12C

“No officer is allowed to hold an interest in the organization so the monitoring is not really an issue”

Form 990, Part VI, Section B, line 15

“Board of directors examines and determines compensation for executive director annually at board meeting”

Form 990, Part VI, Section C, line 19

“This information is public record with the Massachusetts Secretary of State and is also available to the public at the Organization's offices”

Filing and Contact Details

Filer

Filer Name
Agganis Foundation Inc
EIN
20-2059030
Phone
7815814214
Address
2 Arthur Avenue, Marblehead, MA 01945

Signing Officer

Name
Michael H Shanahan
Title
Treasurer
Phone
7815937311
Signed
2018-01-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael H Shanahan
Formed
2004
Legal Domicile
Ma
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
0

Preparer

Firm
Neal A Price & Company LLP
Address
194 Newbury Street - Suite 6, Peabody, MA 01960
Preparer
Neal A PriceCPA
Phone
9788545656
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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/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Treasurer receives a draft of Form 990 from independent accountant and reviews and recommends changes to the return before accountant finalizes the return. The Chairman of the Board and the President review the final copy before it is filed also.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1No officer is allowed to hold an interest in the organization so the monitoring is not really an issue
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Board of directors examines and determines compensation for executive director annually at board meeting
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3This information is public record with the Massachusetts Secretary of State and is also available to the public at the Organization's offices
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, line 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MA
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01095875
IRS990/TotalAssetsEOYAmt01079702
IRS990/TotalAssetsGrp/BOYAmt01095875
IRS990/TotalAssetsGrp/EOYAmt01079702
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt018000
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt050225
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt065729
IRS990/TotalFunctionalExpensesGrp/TotalAmt0115954
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt05950
IRS990/TotalLiabilitiesEOYAmt06300
IRS990/TotalLiabilitiesGrp/BOYAmt05950
IRS990/TotalLiabilitiesGrp/EOYAmt06300
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01089925
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01073402
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt065729
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt081431
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt099431
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01095875
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01079702
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt01089925
IRS990/UnrestrictedNetAssetsGrp/EOYAmt01073402
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02 Arthur Avenue
IRS990/USAddress/CityNm0Marblehead
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd001945
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0www.agganisfoundation.com
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02018-03-14 21:41:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Michael H Shanahan
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Treasurer
ReturnHeader/BusinessOfficerGrp/PhoneNum07815937311
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-01-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Agganis Foundation Inc
ReturnHeader/Filer/BusinessNameControlTxt0AGGA
ReturnHeader/Filer/EIN0202059030
ReturnHeader/Filer/PhoneNum07815814214
ReturnHeader/Filer/USAddress/AddressLine1Txt02 Arthur Avenue
ReturnHeader/Filer/USAddress/CityNm0Marblehead
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MA
ReturnHeader/Filer/USAddress/ZIPCd001945
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0336BCE099C4B086FD004621172478126E11BDA1C
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0E27687D474BBF2B09A9BCED73D953AA313C81692
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt074.92.30.233
ReturnHeader/FilingSecurityInformation/IPDt02018-01-08
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ES
ReturnHeader/FilingSecurityInformation/IPTm011:29:18
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0042934388
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Neal A Price & Company LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0194 Newbury Street - Suite 6
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Peabody
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd001960
ReturnHeader/PreparerPersonGrp/PhoneNum09788545656
ReturnHeader/PreparerPersonGrp/PreparationDt02017-12-26
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Neal A PriceCPA
ReturnHeader/ReturnTs02018-01-08T10:29:59-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,079,702
Liabilities
$6,300
Net assets
$1,073,402
Revenue
$99,431
Expenses
$115,954
Net income
-$16,523
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.87$0.01$1.86$0.35$0.15$0.20
2023Detailed filing. Detailed filing data is available for this year.$1.68$0.00$1.68$0.45$0.15$0.29
2022Detailed filing. Detailed filing data is available for this year.$1.39$0.00$1.39$0.27$0.51$0.25
2021Detailed filing. Detailed filing data is available for this year.$1.64$0.01$1.64$0.35$0.14$0.21
2020Detailed filing. Detailed filing data is available for this year.$1.43$0.01$1.42$0.26$0.15$0.11
2019Detailed filing. Detailed filing data is available for this year.$1.32$0.01$1.32$0.42$0.23$0.18
2018Detailed filing. Detailed filing data is available for this year.$1.14$0.01$1.13$0.03$0.14$0.11
2017Detailed filing. Detailed filing data is available for this year.$1.25$0.01$1.25$0.29$0.13$0.16
2016Detailed filing. Detailed filing data is available for this year.$1.08$0.01$1.07$0.10$0.12$0.02
2015Detailed filing. Detailed filing data is available for this year.$1.10$0.01$1.09$0.06$0.11$0.05
2014Detailed filing. Detailed filing data is available for this year.$1.14$0.01$1.14$0.11$0.12$0.02
2013Detailed filing. Detailed filing data is available for this year.$1.16$0.01$1.15$0.37$0.12$0.25
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.91$0.01$0.90$0.11
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.84$0.01$0.83$0.11
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.92$0.01$0.91$0.11