Civic Intelligence

Apt Foundation Inc.

990 • Fiscal year 2017 • EIN 23-7061218

Jul 01, 2016 to Jun 30, 2017 • Filed on Apr 10, 2018

1 Long Wharf DriveNew Haven, CT 06511

(203) 781-4600

Siviq Scores

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

Liabilities / Assets

68th percentile

0.46x

Higher debt load relative to assets than 68% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Liabilities / Revenue

51st percentile

0.31x

Higher debt load relative to revenue than 51% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Net Margin

54th percentile

4.1%

Higher net margin than 54% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Top Officer Pay

60th percentile

$286,824

Higher top officer pay than 60% of similar nonprofits.

Top officer pay equals 1.0% of source-year revenue.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Asset Growth

82nd percentile

17%

Faster asset growth than 82% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2016 to 2017

Revenue Growth

41st percentile

2.1%

Faster revenue growth than 41% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2016 to 2017

Assets

Up

$19,469,931

Up $2,843,489 (+17%) from 2016

Net Assets

Up

$10,421,241

Up $1,414,410 (+16%) from 2016

Liabilities

Up

$9,048,690

Up $1,429,079 (+19%) from 2016

Revenue

Up

$28,776,664

Up $603,882 (+2.1%) from 2016

Expenses

Up

$27,602,686

Up $2,282,060 (+9.0%) from 2016

Net Income

Down

$1,173,978

Down $1,678,178 (-59%) from 2016

Historical Trend

Balance Sheet Trend

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

$40M$30M$20M$10M$0Assets 2010: $5,377,227Liabilities 2010: $3,181,338Net Assets 2010: $2,195,8892010Assets 2011: $4,109,866Liabilities 2011: $1,628,522Net Assets 2011: $2,481,3442011Assets 2012: $3,782,226Liabilities 2012: $1,576,691Net Assets 2012: $2,205,5352012Assets 2013: $5,505,645Liabilities 2013: $2,809,538Net Assets 2013: $2,696,1072013Assets 2014: $9,797,114Liabilities 2014: $5,796,272Net Assets 2014: $4,000,8422014Assets 2015: $12,316,349Liabilities 2015: $5,934,830Net Assets 2015: $6,381,5192015Assets 2016: $16,626,442Liabilities 2016: $7,619,611Net Assets 2016: $9,006,8312016Assets 2017: $19,469,931Liabilities 2017: $9,048,690Net Assets 2017: $10,421,2412017Assets 2018: $20,238,887Liabilities 2018: $9,027,441Net Assets 2018: $11,211,4462018Assets 2019: $21,368,094Liabilities 2019: $9,859,332Net Assets 2019: $11,508,7622019Assets 2020: $21,129,344Liabilities 2020: $9,033,885Net Assets 2020: $12,095,4592020Assets 2021: $20,778,337Liabilities 2021: $7,576,577Net Assets 2021: $13,201,7602021Assets 2022: $21,404,749Liabilities 2022: $7,191,556Net Assets 2022: $14,213,1932022Assets 2023: $25,599,220Liabilities 2023: $5,112,296Net Assets 2023: $20,486,9242023Assets 2024: $30,177,032Liabilities 2024: $7,489,948Net Assets 2024: $22,687,0842024

Highlighted filing

2017

Assets$19,469,931
Liabilities$9,048,690
Net Assets$10,421,241

Operations Trend

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

$60M$40M$20M$0Expenses 2010: $18,082,6002010Expenses 2011: $18,831,4302011Expenses 2012: $19,669,2292012Expenses 2013: $20,032,1992013Revenue 2014: $22,401,254Expenses 2014: $21,014,700Net Income 2014: $1,386,5542014Revenue 2015: $25,956,116Expenses 2015: $23,540,214Net Income 2015: $2,415,9022015Revenue 2016: $28,172,782Expenses 2016: $25,320,626Net Income 2016: $2,852,1562016Revenue 2017: $28,776,664Expenses 2017: $27,602,686Net Income 2017: $1,173,9782017Revenue 2018: $31,604,038Expenses 2018: $30,868,301Net Income 2018: $735,7372018Revenue 2019: $31,477,807Expenses 2019: $30,870,588Net Income 2019: $607,2192019Revenue 2020: $31,589,668Expenses 2020: $30,674,844Net Income 2020: $914,8242020Revenue 2021: $33,170,752Expenses 2021: $32,307,199Net Income 2021: $863,5532021Revenue 2022: $34,071,289Expenses 2022: $33,427,640Net Income 2022: $643,6492022Revenue 2023: $41,887,195Expenses 2023: $35,662,065Net Income 2023: $6,225,1302023Revenue 2024: $38,953,787Expenses 2024: $36,748,323Net Income 2024: $2,205,4642024

Highlighted filing

2017

Revenue$28,776,664
Expenses$27,602,686
Net Income$1,173,978
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Apr 10, 2018
Return Version
2016v3.0
Gross Receipts
$29,245,429
Mission and Program Overview

Mission

To promote health and recovery for those who live with substance use disorders and/or mental illness.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$10,747,060$14,653,252▲ $3,906,192
Cash and Non-Interest-Bearing Accounts$4,165,273$3,202,260▼ $963,013
Accounts Receivable$877,442$530,224▼ $347,218
Savings and Temporary Cash Investments$0$318,242▲ $318,242
Investments Other Securities$317,905--
Pledges and Grants Receivable$277,892$153,154▼ $124,738
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0--
Total Assets$16,626,442$19,469,931▲ $2,843,489
Other Assets Total$240,870$612,799▲ $371,929
Liabilities
Mortgage Notes Payable Secured by Investment Property$4,148,174$5,258,288▲ $1,110,114
Accounts Payable and Accrued Expenses$3,158,601$3,510,565▲ $351,964
Other Liabilities$312,381$279,382▼ $32,999
Deferred Revenue$455$455→ $0
Total Liabilities$7,619,611$9,048,690▲ $1,429,079
Net Assets / Fund Balance
Unrestricted Net Assets$9,006,831$10,421,241▲ $1,414,410
Total Net Assets Fund Balance$9,006,831$10,421,241▲ $1,414,410
Total Liabilities and Net Assets / Fund Balance$16,626,442$19,469,931▲ $2,843,489

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$5,209,816$1,476,810$6,686,626
Buildings$5,660,219$402,421$6,062,640
Equipment$1,140,612$1,872,674$3,013,286
Other Land Buildings$1,547,609-$1,547,609
Land$1,094,996-$1,094,996
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
-CEOFT$243,740$43,084$286,824
-Medical DirectorFT$184,200$55,634$239,834
-PsychiatristFT$188,921$42,870$231,791
-CFO / TreasurerFT$147,290$25,352$172,642
-Residential Services & Facilities OperationsFT$126,510$33,422$159,932
-Program Director/Director of NursingFT$124,021$15,577$139,598
-Director of Access & Ambulatory ServicesFT$121,807$17,026$138,833

Board Members and Trustees

NameTitle
-Chairperson
-Vice Chairperson
-Director
-Secretary

Highest Paid Contractors

ContractorServicesLocationCompensation
Pustola & AssociatesConstruction Services185 MEADOW STREET, Naugatuck, CT 06770$3,309,437
High End Construction & Property Maintenance LLCContracting, construction, & snow removal servicesPO BOX 985, Westbrook, CT 06498$177,659
Tobin Carberry OMalley Riley Selinger PCLegal Services43 Broad St, New London, CT 06320$144,693
Revenue and Support

Revenue Composition

Contributions and Grants
$7,050,380
Program Service Revenue
$21,994,108
Investment Income
$6,048
Other Revenue
$-273,872
All Other Contributions
$27,592
Change in Net Assets
$1,173,978

Audited Revenue Reconciliation

Revenue per Audited Statements
$29,233,305
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$243,724
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$29,477,029
Total Revenue per Form 990
$29,233,305
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$18,837,562
Other Expenses$8,765,124
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$13,386,246$1,551,600-$14,937,846
Office Expenses$2,506,850$683,934-$3,190,784
Other Employee Benefits$1,646,204$239,040-$1,885,244
Occupancy$1,377,445$219,257-$1,596,702
Fees for Services Other$1,273,542$80,164$0$1,353,706
Payroll Taxes$1,048,895$156,569-$1,205,464
Depreciation Depletion$375,214$395,766-$770,980
Current Officers, Directors, Trustees, and Key Employees-$470,550-$470,550
Pension Plan Contributions$309,536$28,922-$338,458
Insurance$259,815$58,924-$318,739
Information Technology$155,482$85,751-$241,233
Interest-$232,360-$232,360
Travel$125,436$33,797-$159,233
Other Expenses$105,374$4,164-$109,538
Fees for Services Accounting-$59,226-$59,226
Fees for Services Legal-$33,875-$33,875
Advertising$5,814$3,207-$9,021
Total Functional Expenses$23,148,070$4,454,616$0$27,602,686

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$28,303,051
Expenses per Audited Statements$28,059,327
Total Expenses per Form 990$28,059,327
Expenses Not Reported on Form 990$243,724
Expenses Not Reported on Financial Statements$0
Other Expense Adjustments$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$12,124
Fundraising Gross Income$12,124
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala Dinner & Auction$36,375$12,124$3,622$8,502
Event 2-$0-$0
Total Events$36,375$12,124$12,124$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Workers Compensation Reserve$207,433
Swap Valuation$71,949
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
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, Line 11B Review of form 990 by governing body

The organization provides a copy of the form 990 to the members of the audit and finance committee approximately one week prior to the first committee meeting after the form 990 has been completed by the outside cpa firm. Detail discussion of the 990 takes place at the next scheduled committee meeting. A copy of the 990 is then provided to the full board of directors along with the audit and finance committee's recommendation for action.

Form 990, Part VI, Line 12C Conflict of interest policy

The organization requires all officers, directors and employees to complete a conflict of interest questionnaire annually. The completed forms are reviewed by the human resources department to identify any potential conflicts of interest. Any potential conflicts are further evaluated by the ceo and cfo, and if warranted, are brought to the attention of the board of directors for discussion and resolution. Similarly, any potential conflicts of interest that are brought to the attention of the organization by the outside auditors or by an employee or other person, are investigated and resolved in accordance with the procedures discussed above.

Form 990, Part VI, Line 15A Process to establish compensation of top management official

The organization uses 3rd party salary surveys to assist in determining the compensation of the ceo. The compensation of the ceo is documented and approved by the board. Compensation reviews are ongoing.

Form 990, Part VI, Line 15B Process to establish compensation of other employees

The organization uses 3rd party salary surveys to assist in determining the compensation of other employees. Compensation reviews are ongoing.

Form 990, Part VI, Line 19 Required documents available to the public

The organization makes its governing documents and financial statements available to the public upon request.

Form 990, Part VIII, Line 2F Other Program Service Revenue

Yale Research - Total Revenue: 36706, Related or Exempt Function Revenue: 36706, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ;

Filing and Contact Details

Filer

Filer Name
APT Foundation Inc
EIN
23-7061218
Phone
2037814600
Address
1 Long Wharf Drive, New Haven, CT 06511

Signing Officer

Name
Michelle Michaud
Title
CFO
Signed
2018-04-10
Discuss with paid preparer
Yes

Organization Details

Formed
1970
Legal Domicile
Ct
Voting Board Members
10
Independent Board Members
10
Employees
343
Volunteers
12

Preparer

Firm
Crowe Horwath Llp
Address
175 POWDER FOREST DRIVE, SIMSBURY, CT 06089
Preparer
Kristin Anderson
Phone
8606789200
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9 Other changes in net assets or fund balances

Change in interest rate swap obligation - 240432;

Financial Statement Notes

Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote

The foundation accounts for uncertain tax positions with provisions of fasb asc 740 "income taxes" (fasb asc 740), which provides a framework for how companies should recognize, measure, present and disclose uncertain tax positions within the financial statements. With these changes, the foundation may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The foundation does not have any uncertain tax positions as of june 30, 2017 and 2016. The foundation's policy is to include any penalties and interest associated with uncertain tax positions as a component of supporting services on the statement of activities. As of june 30, 2017 and 2016, the foundation did not record any penalties or interest associated with uncertain tax positions. All tax years from 2014 forward are open and subject to examination.

Schedule D, Part XI, Line 2(D) Other revenues in audited financial statements not in form 990

FUNDRAISING EVENTS EXPENSE - 12124 Rental Income from APT - 231600

Schedule D, Part XII, Line 2(D) Other expenses in audited financial statements not in form 990

FUNDRAISING EVENTS EXPENSE - 12124 Expense related to rental Income from APT - 231600

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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/Form990PartVIISectionAGrp/TitleTxt2CHAIRPERSON
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt11CFO / TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt12PSYCHIATRIST
IRS990/Form990PartVIISectionAGrp/TitleTxt13MEDICAL DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14RESIDENTIAL SERVICES & FACILITIES OPERATIONS
IRS990/Form990PartVIISectionAGrp/TitleTxt15PROGRAM DIRECTOR/DIR OF NURSING
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR OF ACCESS & AMBULATORY SERVICES
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IRS990/OtherExpensesGrp/Desc2SECURITY & ALARM
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IRS990/ProgramServiceRevenueGrp/Desc2VOCATIONAL REVENUE
IRS990/ProgramServiceRevenueGrp/Desc3Crossroads
IRS990/ProgramServiceRevenueGrp/Desc4Recovery Network of Programs
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt216067
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt216067
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt3138699
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt4149599
IRS990/ProgSrvcAccomActy2Grp/Desc0OTHER PROGRAMS, SUCH AS ACCESS TO PRIMARY CARE, ARE OFFERED TO ASSIST IN THE TREATMENT OF SUBSTANCE USE AND MENTAL HEALTH DISORDERS, WITH AN EMPHASIS ON TRADITIONALLY UNDERSERVED POPULATIONS. THE FOUNDATION OFFERS TREATMENT PROGRAMS FOR ADULTS THAT ADDRESS THE FULL RANGE OF SUBSTANCE ABUSE INCLUDING OPIATES, COCAINE, ALCOHOL AND MULTIPLE ADDICTIONS.
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IRS990/ProgSrvcAccomActy2Grp/RevenueAmt020114652
IRS990/ProgSrvcAccomActy3Grp/Desc0THE APT FOUNDATION, WORKING IN COLLABORATION WITH THE CONNECTICUT MENTAL HEALTH CENTER AND THE YALE SCHOOL OF MEDICINE, HAS EARNED A REPUTATION FOR EXCELLENCE IN ADDICTION RESEARCH AS WELL AS TREATMENT. THROUGH RESEARCH PROGRAMS SUPPORTED BY STATE AND NATIONAL AGENCIES, SUCH AS THE NATIONAL INSTITUTE ON DRUG ABUSE (NIDA), THE APT FOUNDATION IS AT THE FOREFRONT OF ADDICTION RECOVERY BY DESIGNING TREATMENT PROGRAMS BASED ON RESEARCH OUTCOMES.
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IRS990/PYTotalExpensesAmt025320626
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$30.2$7.49$22.7$39.0$36.7$2.21
2023Detailed filing. Detailed filing data is available for this year.$25.6$5.11$20.5$41.9$35.7$6.23
2022Detailed filing. Detailed filing data is available for this year.$21.4$7.19$14.2$34.1$33.4$0.64
2021Detailed filing. Detailed filing data is available for this year.$20.8$7.58$13.2$33.2$32.3$0.86
2020Detailed filing. Detailed filing data is available for this year.$21.1$9.03$12.1$31.6$30.7$0.91
2019Detailed filing. Detailed filing data is available for this year.$21.4$9.86$11.5$31.5$30.9$0.61
2018Detailed filing. Detailed filing data is available for this year.$20.2$9.03$11.2$31.6$30.9$0.74
2017Detailed filing. Detailed filing data is available for this year.$19.5$9.05$10.4$28.8$27.6$1.17
2016Detailed filing. Detailed filing data is available for this year.$16.6$7.62$9.01$28.2$25.3$2.85
2015Detailed filing. Detailed filing data is available for this year.$12.3$5.93$6.38$26.0$23.5$2.42
2014Detailed filing. Detailed filing data is available for this year.$9.80$5.80$4.00$22.4$21.0$1.39
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.51$2.81$2.70$20.0
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.78$1.58$2.21$19.7
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.11$1.63$2.48$18.8
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.38$3.18$2.20$18.1