Civic Intelligence

Horatio Williams Foundation

990 • Fiscal year 2022 • EIN 20-4981277

Jan 01, 2022 to Dec 31, 2022 • Filed on Feb 14, 2023

Organization ProfileHORATIOWILLIAMSFOUNDATION.ORG
1010 AntietamDetroit, MI 48207

(313) 567-4945

Siviq Scores

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

Liabilities / Assets

61st percentile

0.13x

Higher debt load relative to assets than 61% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

77th percentile

0.40x

Higher debt load relative to revenue than 77% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

7th percentile

-47%

Higher net margin than 7% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

15th percentile

-13%

Faster asset growth than 15% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

68th percentile

22%

Faster revenue growth than 68% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets61st percentile

Assets

Down

$1,241,558

Down $186,456 (-13%) from 2021

Net Assets

Down

$1,078,391

Down $191,656 (-15%) from 2021

Liabilities

Up

$163,167

Up $5,200 (+3.3%) from 2021

Revenue And Expenses
Liabilities / Revenue77th percentileNet Margin7th percentile

Revenue

Up

$408,035

Up $74,290 (+22%) from 2021

Expenses

Up

$599,691

Up $131,829 (+28%) from 2021

Net Income

Down

-$191,656

Down $57,539 (-43%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth15th percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2011: $1,382Liabilities 2011: $02011Assets 2012: $958,561Liabilities 2012: $0Net Assets 2012: $958,5612012Assets 2013: $1,033,735Liabilities 2013: $0Net Assets 2013: $1,033,7352013Assets 2014: $1,015,401Liabilities 2014: $53,349Net Assets 2014: $962,0522014Assets 2016: $983,820Liabilities 2016: $72,535Net Assets 2016: $911,2852016Assets 2017: $1,113,239Liabilities 2017: $47,746Net Assets 2017: $1,065,4932017Assets 2018: $927,512Liabilities 2018: $1,300Net Assets 2018: $926,2122018Assets 2019: $862,787Liabilities 2019: $19,551Net Assets 2019: $843,2362019Assets 2020: $1,407,813Liabilities 2020: $164,004Net Assets 2020: $1,243,8092020Assets 2021: $1,428,014Liabilities 2021: $157,967Net Assets 2021: $1,270,0472021Assets 2022: $1,241,558Liabilities 2022: $163,167Net Assets 2022: $1,078,3912022Assets 2023: $1,219,366Liabilities 2023: $163,151Net Assets 2023: $1,056,2152023Assets 2024: $1,512,306Liabilities 2024: $160,187Net Assets 2024: $1,352,1192024

Highlighted filing

2022

Assets$1,241,558
Liabilities$163,167
Net Assets$1,078,391
Open 2022 Filing

Operations Trend

Revenue Growth68th percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2011: $160,432Expenses 2011: $156,802Net Income 2011: $3,6302011Revenue 2012: $1,186,300Expenses 2012: $229,121Net Income 2012: $957,1792012Revenue 2013: $311,319Expenses 2013: $226,748Net Income 2013: $84,5712013Revenue 2014: $220,251Expenses 2014: $291,934Net Income 2014: -$71,6832014Revenue 2016: $294,181Expenses 2016: $319,883Net Income 2016: -$25,7022016Revenue 2017: $627,992Expenses 2017: $498,573Net Income 2017: $129,4192017Revenue 2018: $265,436Expenses 2018: $318,879Net Income 2018: -$53,4432018Revenue 2019: $316,249Expenses 2019: $399,225Net Income 2019: -$82,9762019Revenue 2020: $755,723Expenses 2020: $355,150Net Income 2020: $400,5732020Revenue 2021: $333,745Expenses 2021: $467,862Net Income 2021: -$134,1172021Revenue 2022: $408,035Expenses 2022: $599,691Net Income 2022: -$191,6562022Revenue 2023: $472,590Expenses 2023: $494,766Net Income 2023: -$22,1762023Revenue 2024: $997,369Expenses 2024: $676,076Net Income 2024: $321,2932024

Highlighted filing

2022

Revenue$408,035
Expenses$599,691
Net Income-$191,656
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Feb 14, 2023
Return Version
2022v4.1
Gross Receipts
$422,132
Mission and Program Overview

Mission

The organizations mission is to receive and administer funds for recreational activities and scholarships for disadvantaged youth

The organizations mission is to provide funds for recreational activities, tutoring and scholarships for disadvantaged youth

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$799,068$760,471▼ $38,597
Cash and Non-Interest-Bearing Accounts$434,535$286,676▼ $147,859
Accounts Receivable$194,411$194,411→ $0
Total Assets$1,428,014$1,241,558▼ $186,456
Liabilities
Other Liabilities$155,900$160,187▲ $4,287
Accounts Payable and Accrued Expenses$2,067$2,980▲ $913
Total Liabilities$157,967$163,167▲ $5,200
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,270,047$1,078,391▼ $191,656
Total Net Assets Fund Balance$1,270,047$1,078,391▼ $191,656
Total Liabilities and Net Assets / Fund Balance$1,428,014$1,241,558▼ $186,456

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$760,471$308,734$1,069,205
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
DR SHAWNY DeBERRYChairperson
Darryl NolanCo-chairperson
Horatio WilliamsExecutive Director
Anthony HopkinsMember
Dr Shenetta ColemanMember
Regina HamptonSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$369,537
Program Service Revenue
$4,525
Investment Income
$0
Other Revenue
$33,973
All Other Contributions
$369,537
Change in Net Assets
$-191,656
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$599,691
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
Other Expenses$187,556$925-$187,556
Occupancy$135,302$28,036-$163,338
Office Expenses$32,640$18,512-$51,152
Depreciation Depletion-$38,597-$38,597
Advertising-$16,255-$16,255
Conferences and Meetings$7,021$7,169-$14,190
Interest-$4,287-$4,287
Fees for Services Accounting-$2,638-$2,638
Fees for Services Legal-$2,500-$2,500
Insurance-$2,254-$2,254
Total Functional Expenses$467,368$132,323$0$599,691
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$22,900
Fundraising Direct Expenses$14,097
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Outing$22,900$22,900$14,097$8,803
Total Events$22,900$22,900$14,097$8,803
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes$160,187
Sba Loan Payable-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
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
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, Section B, Line 11

“After the accountant prepares the form 990, the chairman reviews, if no changes are required, the form 990 is presented to the board then signed and e-filed to the internal revenue service center.”

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

“Directors are required to disclose any conflicts of interests or potential conflicts of interest with respect to grants, contracts, and transactions submitted to the board for approval. A director who has a conflict of interest or potential conflict of interest is prohibited from voting on the grant, contract or transaction.”

Form 990, Part VI, Section C, Line 19

“The organization makes it governing documents, financial information and conflict of interest policy available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Horatio Williams Foundation
EIN
20-4981277
Phone
3135674945
Address
1010 ANTIETAM, DETROIT, MI 48207

Signing Officer

Name
Horatio Williams
Title
Executive Director
Phone
3135674945
Signed
2023-02-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Horatio Williams
Formed
1999
Legal Domicile
Mi
Voting Board Members
6
Independent Board Members
6
Employees
2

Preparer

Firm
Gregory Terrell & Company
Address
613 ABBOTT STREET SUITE 320, DETROIT, MI 48226
Preparer
Gregory Terrell
Phone
3139650500
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0AFTER THE ACCOUNTANT PREPARES THE FORM 990, THE CHAIRMAN REVIEWS, IF NO CHANGES ARE REQUIRED, THE FORM 990 IS PRESENTED TO THE BOARD THEN SIGNED AND E-FILED TO THE INTERNAL REVENUE SERVICE CENTER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DIRECTORS ARE REQUIRED TO DISCLOSE ANY CONFLICTS OF INTERESTS OR POTENTIAL CONFLICTS OF INTEREST WITH RESPECT TO GRANTS, CONTRACTS, AND TRANSACTIONS SUBMITTED TO THE BOARD FOR APPROVAL. A DIRECTOR WHO HAS A CONFLICT OF INTEREST OR POTENTIAL CONFLICT OF INTEREST IS PROHIBITED FROM VOTING ON THE GRANT, CONTRACT OR TRANSACTION.
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Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,241,558
Liabilities
$163,167
Net assets
$1,078,391
Revenue
$408,035
Expenses
$599,691
Net income
-$191,656
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.51$0.16$1.35$1.00$0.68$0.32
2023Summary only. Only limited summary data is available for this year.$1.22$0.16$1.06$0.47$0.49$0.02
2022Detailed filing. Detailed filing data is available for this year.$1.24$0.16$1.08$0.41$0.60$0.19
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.43$0.16$1.27$0.33$0.47$0.13
2020Summary only. Only limited summary data is available for this year.$1.41$0.16$1.24$0.76$0.36$0.40
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.86$0.02$0.84$0.32$0.40$0.08
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.93$0.00$0.93$0.27$0.32$0.05
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.11$0.05$1.07$0.63$0.50$0.13
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.98$0.07$0.91$0.29$0.32$0.03
2014Detailed filing. Detailed filing data is available for this year.$1.02$0.05$0.96$0.22$0.29$0.07
2013Detailed filing. Detailed filing data is available for this year.$1.03$0.00$1.03$0.31$0.23$0.08
2012Summary only. Only limited summary data is available for this year.$0.96$0.00$0.96$1.19$0.23$0.96
2011Summary only. Only limited summary data is available for this year.$0.00$0.00$0.16$0.16$0.00