Civic Intelligence

Paragon Foundation of Palm Beach County

EIN 20-8610932 • 501(c)3 • West Palm Beach, FL

View Organization Page

Profile

To support the growth and prosperity of startup, emerging and mature businesses in Palm Beach County in various ways, including participation of businesses in the biotech sector and urban redevelopment

400 Hibiscus StreetWest Palm Beach, FL 33401

www.paragonpbc.org

Siviq Scores

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

Liabilities / Assets

93rd percentile

0.97x

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

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

Liabilities / Revenue

94th percentile

2.74x

Higher debt load relative to revenue than 94% of similar nonprofits.

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

Net Margin

27th percentile

-5.8%

Higher net margin than 27% of similar nonprofits.

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

Top Officer Pay

63rd percentile

$90,225

Higher top officer pay than 63% of similar nonprofits.

Top officer pay equals 25.2% of source-year revenue.

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

Asset Growth

17th percentile

-9.3%

Faster asset growth than 17% of similar nonprofits.

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

Revenue Growth

45th percentile

4.3%

Faster revenue growth than 45% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Down

$1,012,236

Down $103,892 (-9.3%) from 2015

Liabilities

Down

$980,435

Down $82,948 (-7.8%) from 2015

Net Assets

Down

$31,801

Down $20,944 (-40%) from 2015

Operations
Liabilities / Revenue94th percentileNet Margin27th percentile

Revenue

Up

$358,155

Up $14,726 (+4.3%) from 2015

Expenses

Down

$379,099

Down $19,138 (-4.8%) from 2015

Net Income

Up

-$20,944

Up $33,864 (+62%) from 2015

Trend Graphs

Balance Sheet Trend

Asset Growth17th percentile

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

$3.0M$2.0M$1.0M$0Assets 2010: $2,389,189Liabilities 2010: $6,871Net Assets 2010: $2,382,3182010Assets 2011: $1,740,872Liabilities 2011: $11,339Net Assets 2011: $1,729,5332011Assets 2012: $823,130Liabilities 2012: $9,515Net Assets 2012: $813,6152012Assets 2013: $1,172,974Liabilities 2013: $812,091Net Assets 2013: $360,8832013Assets 2014: $910,379Liabilities 2014: $802,589Net Assets 2014: $107,7902014Assets 2015: $1,116,128Liabilities 2015: $1,063,383Net Assets 2015: $52,7452015Assets 2016: $1,012,236Liabilities 2016: $980,435Net Assets 2016: $31,8012016

Highlighted filing

2016

Assets$1,012,236
Liabilities$980,435
Net Assets$31,801
Open 2016 Filing

Operations Trend

Revenue Growth45th percentile

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

$1.5M$1.0M$500K$0-$500KExpenses 2010: $1,479,3202010Expenses 2011: $716,8452011Expenses 2012: $1,275,2702012Revenue 2013: $65,785Expenses 2013: $516,326Net Income 2013: -$450,5412013Revenue 2014: $195,997Expenses 2014: $449,090Net Income 2014: -$253,0932014Revenue 2015: $343,429Expenses 2015: $398,237Net Income 2015: -$54,8082015Revenue 2016: $358,155Expenses 2016: $379,099Net Income 2016: -$20,9442016

Highlighted filing

2016

Revenue$358,155
Expenses$379,099
Net Income-$20,944
Open 2016 Filing

Filings

Most recent year

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

Open filing
Assets
$1,012,236
Liabilities
$980,435
Net assets
$31,801
Revenue
$358,155
Expenses
$379,099
Net income
-$20,944
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2016Detailed filing. Detailed filing data is available for this year.$1.01$0.98$0.03$0.36$0.38$0.02
2015Summary only. Only limited summary data is available for this year.$1.12$1.06$0.05$0.34$0.40$0.05
2014Detailed filing. Detailed filing data is available for this year.$0.91$0.80$0.11$0.20$0.45$0.25
2013Detailed filing. Detailed filing data is available for this year.$1.17$0.81$0.36$0.07$0.52$0.45
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.82$0.01$0.81$1.28
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.74$0.01$1.73$0.72
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.39$0.01$2.38$1.48
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Jan 30, 2018
Return Version
2016v3.0
Gross Receipts
$358,155
Mission and Program Overview

Mission

Paragon florida, inc is a certified comunity development financial institution (cdfi) whose mission is to foster economic and community development in palm beach county, florida. Our target market includes low to moderate income populations and small business owners.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$476,446$471,059▼ $5,387
Cash and Non-Interest-Bearing Accounts$531,511$469,996▼ $61,515
Pledges and Grants Receivable$83,066$33,000▼ $50,066
Accounts Receivable-$18,522-
Land, Buildings, and Equipment, Net$19,486$14,313▼ $5,173
Prepaid Expenses and Deferred Charges$5,619$5,346▼ $273
Total Assets$1,116,128$1,012,236▼ $103,892
Liabilities
Unsecured Notes Loans Payable$972,729$918,598▼ $54,131
Accounts Payable and Accrued Expenses$60,892$32,075▼ $28,817
Other Liabilities$29,762$29,762→ $0
Total Liabilities$1,063,383$980,435▼ $82,948
Net Assets / Fund Balance
Temporarily Rstr Net Assets$40,000$20,000▼ $20,000
Unrestricted Net Assets$12,745$11,801▼ $944
Total Net Assets Fund Balance$52,745$31,801▼ $20,944
Total Liabilities and Net Assets / Fund Balance$1,116,128$1,012,236▼ $103,892

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$13,388$12,842$26,230
Leasehold Improvements$925$1,775$2,700
Compensation and Service Providers
Top Officer Pay63rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Pamela StewartDirectorFT$90,225$90,225

Board Members and Trustees

NameTitle
Thais R SullivanChair
Alfonso HernandezDirector
Angela RandolphDirector
Carol MolnarDirector
Maria C ColeDirector
Shaun Davis CPADirector
James L BeardenSecretary
Charles W Keys IiiTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$313,009
Program Service Revenue
$39,783
Investment Income
$0
Other Revenue
$5,363
All Other Contributions
$193,992
Change in Net Assets
$-20,944

Audited Revenue Reconciliation

Revenue per Audited Statements
$358,155
Total Revenue per Audited Statements
$358,155
Total Revenue per Form 990
$358,155
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$199,089
Other Expenses$180,010
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$69,254$23,085-$92,339
Current Officers, Directors, Trustees, and Key Employees$67,669$22,556-$90,225
Occupancy$39,209$4,356-$43,565
Fees for Services Legal-$30,300-$30,300
Fees for Services Accounting$29,090--$29,090
Information Technology$17,950--$17,950
Payroll Taxes$11,665$3,888-$15,553
Office Expenses$5,000$4,099-$9,099
Interest$8,928--$8,928
Fees for Services Other$8,411$96-$8,507
Depreciation Depletion$5,172--$5,172
Travel$2,190$2,190-$4,380
Insurance$2,493$831-$3,324
Other Expenses$1,313$437-$1,750
Advertising$223$1,177-$1,400
Other Employee Benefits$729$243-$972
Total Functional Expenses$280,889$98,210$0$379,099

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$379,099
Total Expenses per Audited Statements$379,099
Total Expenses per Form 990$379,099
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Loan Loss Reserve$29,762
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Member election for additional members Part VI line 7A

“The governing body and all new board members are elected by the members”

Governing body decisions Part VI line 7B

“Decisions of the governing body are approved at an annual meeting”

Form 990 governing body review Part VI line 11

“Form 990 is distributed to the executive board for review prior to irs filing.”

Conflict of interest policy compliance Part VI line 12C

“Board members are required to complete a conflice of interest checklist which is discussed at board meetings.”

CEO executive director top management comp Part VI line 15A

“Management reviews presidents compensation based on other agencies of comparable size.”

Other officer or key employee compensation Part VI line 15B

“Management review other key employees compensation package based on organizations of comparable size.”

Governing documents etc available to public Part VI line 19

“Upon request, the organization provides paper or electronic copies of the requested documents available usually within a reasonable time frame.”

Filing and Contact Details

Filer

Filer Name
Paragon Florida Inc
EIN
20-8610932
Address
400 HIBISCUS STREET, WEST PALM BEACH, FL 33401

Signing Officer

Name
Thais R Sullivan
Title
Board Chair
Phone
5612286146
Signed
2018-01-30
Discuss with paid preparer
No

Organization Details

Principal Officer
Thais R Sullivan
Formed
2006
Legal Domicile
Fl
Voting Board Members
8
Independent Board Members
8
Employees
4

Preparer

Firm
Ward and Company Pa
Address
5725 CORPORATE WAY STE 106, WEST PALM BEACH, FL 33407
Preparer
Zenora Kerr Ward CPA
Phone
5616979468
Supplemental Narrative

Financial Statement Notes

Footnote for uncertain tax position under FIN 48 (Part X)

“The organization is a tax exempt organization under section 501(c)(3) of the internal revenue code. However, income from certain activities not directly related to the organizations tax exempt purpose is subject to taxation as unrelated business income. Management does not believe any income tax is due and there is no provision for taxes in these financial statements.”

Raw XML AppendixShowing 400 of 449 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/PrepaidExpensesDefrdChargesGrp/EOYAmt05346
IRS990/PrincipalOfficerNm0THAIS R SULLIVAN
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IRS990/ProgramServiceRevenueGrp/BusinessCd2561499
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IRS990/ProgramServiceRevenueGrp/Desc2TRAINING WORKSHOPS
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IRS990/ProgSrvcAccomActy2Grp/Desc0DEVELOPMENT SERVICES PROVIDE BUSINESS COUNSELING AND TRAINING TO SMALL BUSINESSES.
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IRS990/PYExcessBenefitTransInd0false
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IRS990/PYProgramServiceRevenueAmt043313
IRS990/PYRevenuesLessExpensesAmt0-54808
IRS990/PYSalariesCompEmpBnftPaidAmt0229499
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IRS990/ReconcilationRevenueExpnssAmt0-20944
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt077500
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt017280
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0305000
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS A TAX EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. HOWEVER, INCOME FROM CERTAIN ACTIVITIES NOT DIRECTLY RELATED TO THE ORGANIZATIONS TAX EXEMPT PURPOSE IS SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. MANAGEMENT DOES NOT BELIEVE ANY INCOME TAX IS DUE AND THERE IS NO PROVISION FOR TAXES IN THESE FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Footnote for uncertain tax position under FIN 48 (Part X)
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE GOVERNING BODY AND ALL NEW BOARD MEMBERS ARE ELECTED BY THE MEMBERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DECISIONS OF THE GOVERNING BODY ARE APPROVED AT AN ANNUAL MEETING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 IS DISTRIBUTED TO THE EXECUTIVE BOARD FOR REVIEW PRIOR TO IRS FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BOARD MEMBERS ARE REQUIRED TO COMPLETE A CONFLICE OF INTEREST CHECKLIST WHICH IS DISCUSSED AT BOARD MEETINGS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4MANAGEMENT REVIEWS PRESIDENTS COMPENSATION BASED ON OTHER AGENCIES OF COMPARABLE SIZE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5MANAGEMENT REVIEW OTHER KEY EMPLOYEES COMPENSATION PACKAGE BASED ON ORGANIZATIONS OF COMPARABLE SIZE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6UPON REQUEST, THE ORGANIZATION PROVIDES PAPER OR ELECTRONIC COPIES OF THE REQUESTED DOCUMENTS AVAILABLE USUALLY WITHIN A REASONABLE TIME FRAME.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Member election for additional members Part VI line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Governing body decisions Part VI line 7b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Other officer or key employee compensation Part VI line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Governing documents etc available to public Part VI line 19
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