Civic Intelligence

Global Interdependence Center

990 • Fiscal year 2023 • EIN 23-2138619

Jan 01, 2023 to Dec 31, 2023 • Filed on Jun 11, 2024

100 N 6th Street 5th Floor SWPhiladelphia, PA 19106

(215) 238-0990

Siviq Scores

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

Liabilities / Assets

87th percentile

0.33x

Higher debt load relative to assets than 87% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

90th percentile

0.35x

Higher debt load relative to revenue than 90% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

37th percentile

-2.5%

Higher net margin than 37% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

98th percentile

$113,000

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 24.8% of source-year revenue.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

34th percentile

-8.2%

Faster asset growth than 34% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

58th percentile

11%

Faster revenue growth than 58% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Assets

Flat

$480,235

Flat from 2023

Net Assets

Flat

$319,976

Flat from 2023

Liabilities

Flat

$160,259

Flat from 2023

Revenue

Flat

$455,839

Flat from 2023

Expenses

Flat

$467,310

Flat from 2023

Net Income

Flat

-$11,471

Flat from 2023

Historical Trend

Balance Sheet Trend

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

$1.5M$1.0M$500K$0Assets 2011: $1,026,852Liabilities 2011: $16,495Net Assets 2011: $1,010,3572011Assets 2012: $1,134,673Liabilities 2012: $39,218Net Assets 2012: $1,095,4552012Assets 2013: $1,161,308Liabilities 2013: $31,566Net Assets 2013: $1,129,7422013Assets 2014: $95,815Liabilities 2014: $56,601Net Assets 2014: $39,2142014Assets 2015: $159,758Liabilities 2015: $7,862Net Assets 2015: $151,8962015Assets 2016: $152,815Liabilities 2016: $13,811Net Assets 2016: $139,0042016Assets 2017: $230,618Liabilities 2017: $43,055Net Assets 2017: $187,5632017Assets 2018: $402,160Liabilities 2018: $99,357Net Assets 2018: $302,8032018Assets 2019: $345,354Liabilities 2019: $23,945Net Assets 2019: $321,4092019Assets 2020: $420,508Liabilities 2020: $11,346Net Assets 2020: $409,1622020Assets 2021: $394,871Liabilities 2021: $61,742Net Assets 2021: $333,1292021Assets 2022: $523,316Liabilities 2022: $193,987Net Assets 2022: $329,3292022Assets 2023: $480,235Liabilities 2023: $160,259Net Assets 2023: $319,9762023Assets 2023: $480,235Liabilities 2023: $160,259Net Assets 2023: $319,9762023Assets 2024: $344,972Liabilities 2024: $87,989Net Assets 2024: $256,9832024

Highlighted filing

2023

Assets$480,235
Liabilities$160,259
Net Assets$319,976

Operations Trend

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

$600K$400K$200K$0-$200KRevenue 2011: $341,275Expenses 2011: $366,794Net Income 2011: -$25,5192011Revenue 2012: $520,768Expenses 2012: $507,833Net Income 2012: $12,9352012Revenue 2013: $501,630Expenses 2013: $514,755Net Income 2013: -$13,1252013Revenue 2014: $415,976Expenses 2014: $450,980Net Income 2014: -$35,0042014Revenue 2015: $394,026Expenses 2015: $281,344Net Income 2015: $112,6822015Revenue 2016: $304,571Expenses 2016: $317,463Net Income 2016: -$12,8922016Revenue 2017: $414,737Expenses 2017: $366,178Net Income 2017: $48,5592017Revenue 2018: $404,669Expenses 2018: $289,429Net Income 2018: $115,2402018Revenue 2019: $365,126Expenses 2019: $346,520Net Income 2019: $18,6062019Revenue 2020: $364,213Expenses 2020: $276,460Net Income 2020: $87,7532020Revenue 2021: $284,576Expenses 2021: $358,496Net Income 2021: -$73,9202021Revenue 2022: $409,137Expenses 2022: $406,056Net Income 2022: $3,0812022Revenue 2023: $455,839Expenses 2023: $467,310Net Income 2023: -$11,4712023Revenue 2023: $455,839Expenses 2023: $467,310Net Income 2023: -$11,4712023Revenue 2024: $472,061Expenses 2024: $535,744Net Income 2024: -$63,6832024

Highlighted filing

2023

Revenue$455,839
Expenses$467,310
Net Income-$11,471
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Jun 11, 2024
Return Version
2023v5.0
Gross Receipts
$455,839
Mission and Program Overview

Mission

GIC's mission is to encourage the expansion of global dialogue and free trade in order to improve cooperation and understanding among nation states, with the goal of reducing international conflicts and improving worldwide living standards.

Gic brings together a network of international experts in policymaking, central banking, industry, and academia to explore issues and policies concerning global interdependence that impacts world economies and quality of life. We provide a neutral, nonpartisan forum to expand awareness, advance shared interests, and promote social stewardship. Our college of central bankers provides a distinguished forum for former leaders of monetary policymaking organizations to share their insights and thought leadership on critical issues facing central banking and global monetary policy.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$257,046$250,715▼ $6,331
Prepaid Expenses and Deferred Charges$65,349$77,577▲ $12,228
Cash and Non-Interest-Bearing Accounts$70,916$49,008▼ $21,908
Pledges and Grants Receivable$39,001$31,807▼ $7,194
Land, Buildings, and Equipment, Net$3,241$3,871▲ $630
Total Assets$523,316$480,235▼ $43,081
Other Assets Total$87,763$67,257▼ $20,506
Liabilities
Deferred Revenue$92,170$77,875▼ $14,295
Other Liabilities$87,763$68,364▼ $19,399
Accounts Payable and Accrued Expenses$14,054$14,020▼ $34
Total Liabilities$193,987$160,259▼ $33,728
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$170,728$189,587▲ $18,859
Net Assets With Donor Restrictions$158,601$130,389▼ $28,212
Total Net Assets Fund Balance$329,329$319,976▼ $9,353
Total Liabilities and Net Assets / Fund Balance$523,316$480,235▼ $43,081

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$3,871$1,588$5,459
Other Assets Org$67,257--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Jillian FornitoExecutive DiFT$113,000$113,000
Revenue and Support

Revenue Composition

Contributions and Grants
$217,620
Program Service Revenue
$225,285
Investment Income
$12,934
Other Revenue
$0
All Other Contributions
$207,895
Change in Net Assets
$-11,471

Audited Revenue Reconciliation

Revenue per Audited Statements
$455,839
Total Revenue per Audited Statements
$455,839
Total Revenue per Form 990
$455,839
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$244,300
Salaries, Compensation, and Employee Benefits$223,010
Total Fundraising Expense$45,821
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$68,928$27,121$16,951$113,000
Other Salaries and Wages$48,110$18,925$11,829$78,864
Fees for Services Other-$36,552-$36,552
Occupancy$16,521$6,065$3,791$26,377
Office Expenses$11,090$4,220$3,020$18,330
Travel$16,216$405$253$16,874
Other Employee Benefits$9,517$3,744$2,340$15,601
Payroll Taxes$9,482$3,731$2,332$15,545
Fees for Services Accounting-$11,900-$11,900
Insurance$1,793$706$441$2,940
Advertising$848$149$93$1,090
Depreciation Depletion$570$225$140$935
Other Expenses$127$50$31$208
Total Functional Expenses$305,292$116,197$45,821$467,310

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$467,310
Total Expenses per Audited Statements$467,310
Total Expenses per Form 990$467,310
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
Lease Liability$68,364
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
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
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, Page 6, Part VI, Line 11B

The executive committee reviews the tax return and then provides to the full board of directors to approve.

Form 990, Page 6, Part VI, Line 12C

The executive director closely monitors the policy on a regular basis.

Form 990, Page 6, Part VI, Line 15A

All three factors are considered on an annual basis by the executive committee when determining salaries for all gic staff.

Form 990, Page 6, Part VI, Line 19

The relevant documents are made available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Global Interdependence Center
EIN
23-2138619
Phone
2152380990
Address
100 N 6TH STREET 5TH FLOOR SW, PHILADELPHIA, PA 19106

Signing Officer

Name
Sean Heberling
Title
Treasurer
Phone
2152380990
Signed
2024-06-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jillian Fornito
Formed
1982
Legal Domicile
Pa
Voting Board Members
22
Independent Board Members
22
Employees
5

Preparer

Firm
Gbb & Co Llp
Address
1150 GLENLIVET DR STE C-36, ALLENTOWN, PA 18106-3122
Preparer
Todd C Newcomer CPA Cfe
Phone
4842230096
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Gic brings together a network of international experts in policymaking, central banking, industry, and academia to explore issues and policies concerning global interdependence that impacts world economies and quality of life. We provide a neutral, nonpartisan forum to expand awareness, advance shared interests, and promote social stewardship. Our college of central bankers provides a distinguished forum for former leaders of monetary policymaking organizations to share their insights and thought leadership on critical issues facing central banking and global monetary policy.

Financial Statement Notes

Schedule D, Page 3, Part X

The center is exempt from federal income taxes under section 501(c)(3) of the internal revenue code. In accordance with u.s. Gaap, the center accounts for uncertain tax positions using a recognition threshold of more-likely-than-not to be sustained upon examination by the appropriate taxing authority. Measurement of the tax uncertainty occurs if the recognition threshold is met. Management determined there were no tax uncertainties that met the recognition threshold in 2023.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0EXECUTIVE DI
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt18CHAIR EMERIT
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR
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IRS990/MinutesOfCommitteesInd0true
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IRS990/MissionDesc0GIC BRINGS TOGETHER A NETWORK OF INTERNATIONAL EXPERTS IN POLICYMAKING, CENTRAL BANKING, INDUSTRY, AND ACADEMIA TO EXPLORE ISSUES AND POLICIES CONCERNING GLOBAL INTERDEPENDENCE THAT IMPACTS WORLD ECONOMIES AND QUALITY OF LIFE. WE PROVIDE A NEUTRAL, NONPARTISAN FORUM TO EXPAND AWARENESS, ADVANCE SHARED INTERESTS, AND PROMOTE SOCIAL STEWARDSHIP. OUR COLLEGE OF CENTRAL BANKERS PROVIDES A DISTINGUISHED FORUM FOR FORMER LEADERS OF MONETARY POLICYMAKING ORGANIZATIONS TO SHARE THEIR INSIGHTS AND THOUGHT LEADERSHIP ON CRITICAL ISSUES FACING CENTRAL BANKING AND GLOBAL MONETARY POLICY.
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IRS990/OtherExpensesGrp/Desc2DUES & SUBSCRIPTIONS
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt05739
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.34$0.09$0.26$0.47$0.54$0.06
2023Detailed filing. Detailed filing data is available for this year.$0.48$0.16$0.32$0.46$0.47$0.01
2023Summary only. Only limited summary data is available for this year.$0.48$0.16$0.32$0.46$0.47$0.01
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.52$0.19$0.33$0.41$0.41$0.00
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.39$0.06$0.33$0.28$0.36$0.07
2020Summary only. Only limited summary data is available for this year.$0.42$0.01$0.41$0.36$0.28$0.09
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.35$0.02$0.32$0.37$0.35$0.02
2018Summary only. Only limited summary data is available for this year.$0.40$0.10$0.30$0.40$0.29$0.12
2017Summary only. Only limited summary data is available for this year.$0.23$0.04$0.19$0.41$0.37$0.05
2016Summary only. Only limited summary data is available for this year.$0.15$0.01$0.14$0.30$0.32$0.01
2015Summary only. Only limited summary data is available for this year.$0.16$0.01$0.15$0.39$0.28$0.11
2014Summary only. Only limited summary data is available for this year.$0.10$0.06$0.04$0.42$0.45$0.04
2013Summary only. Only limited summary data is available for this year.$1.16$0.03$1.13$0.50$0.51$0.01
2012Summary only. Only limited summary data is available for this year.$1.13$0.04$1.10$0.52$0.51$0.01
2011Summary only. Only limited summary data is available for this year.$1.03$0.02$1.01$0.34$0.37$0.03