Civic Intelligence

Panorama Benevolent Fund

990 • Fiscal year 2021 • EIN 23-7191166

Jan 01, 2021 to Dec 31, 2021 • Filed on Aug 26, 2022

1751 Circle Lane SELacey, WA 98503

(360) 438-7556

Siviq Scores

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

Liabilities / Assets

6th percentile

0.00x

Higher debt load relative to assets than 6% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Liabilities / Revenue

6th percentile

0.00x

Higher debt load relative to revenue than 6% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Net Margin

95th percentile

77%

Higher net margin than 95% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Top Officer Pay

14th percentile

$0

Higher top officer pay than 14% of similar nonprofits.

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

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Asset Growth

54th percentile

12%

Faster asset growth than 54% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Revenue Growth

91st percentile

130%

Faster revenue growth than 91% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Assets

Up

$12,300,067

Up $1,270,863 (+12%) from 2020

Net Assets

Up

$12,298,995

Up $1,269,920 (+12%) from 2020

Liabilities

Up

$1,072

Up $943 (+731%) from 2020

Revenue

Up

$1,796,663

Up $1,015,536 (+130%) from 2020

Expenses

Down

$406,651

Down $62,486 (-13%) from 2020

Net Income

Up

$1,390,012

Up $1,078,022 (+346%) from 2020

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2012: $6,352,709Liabilities 2012: $0Net Assets 2012: $6,352,7092012Assets 2013: $7,311,579Liabilities 2013: $0Net Assets 2013: $7,311,5792013Assets 2015: $7,754,234Liabilities 2015: $0Net Assets 2015: $7,754,2342015Assets 2016: $8,327,332Liabilities 2016: $0Net Assets 2016: $8,327,3322016Assets 2017: $9,269,361Liabilities 2017: $0Net Assets 2017: $9,269,3612017Assets 2018: $8,602,716Liabilities 2018: $644Net Assets 2018: $8,602,0722018Assets 2019: $10,469,919Liabilities 2019: $843Net Assets 2019: $10,469,0762019Assets 2020: $11,029,204Liabilities 2020: $129Net Assets 2020: $11,029,0752020Assets 2021: $12,300,067Liabilities 2021: $1,072Net Assets 2021: $12,298,9952021Assets 2022: $10,546,781Liabilities 2022: $1,873Net Assets 2022: $10,544,9082022Assets 2024: $13,148,007Liabilities 2024: $1,997Net Assets 2024: $13,146,0102024

Highlighted filing

2021

Assets$12,300,067
Liabilities$1,072
Net Assets$12,298,995

Operations Trend

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

$2.0M$1.5M$1.0M$500K$0Expenses 2012: $784,3942012Revenue 2013: $990,316Expenses 2013: $441,057Net Income 2013: $549,2592013Revenue 2015: $946,678Expenses 2015: $584,222Net Income 2015: $362,4562015Revenue 2016: $1,039,632Expenses 2016: $506,583Net Income 2016: $533,0492016Revenue 2017: $735,520Expenses 2017: $607,953Net Income 2017: $127,5672017Revenue 2018: $727,947Expenses 2018: $575,501Net Income 2018: $152,4462018Revenue 2019: $1,102,655Expenses 2019: $547,945Net Income 2019: $554,7102019Revenue 2020: $781,127Expenses 2020: $469,137Net Income 2020: $311,9902020Revenue 2021: $1,796,663Expenses 2021: $406,651Net Income 2021: $1,390,0122021Revenue 2022: $971,700Expenses 2022: $740,764Net Income 2022: $230,9362022Revenue 2024: $1,378,887Expenses 2024: $1,189,688Net Income 2024: $189,1992024

Highlighted filing

2021

Revenue$1,796,663
Expenses$406,651
Net Income$1,390,012
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Aug 26, 2022
Return Version
2021v4.0
Gross Receipts
$4,986,082
Mission and Program Overview

Mission

To provide financial assistance and social assistance to residents of panorama, a retirement community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$10,965,887$12,229,624▲ $1,263,737
Cash and Non-Interest-Bearing Accounts$17,504$48,991▲ $31,487
Savings and Temporary Cash Investments$45,813$21,452▼ $24,361
Total Assets$11,029,204$12,300,067▲ $1,270,863
Liabilities
Accounts Payable and Accrued Expenses$129$1,072▲ $943
Total Liabilities$129$1,072▲ $943
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$11,029,075$12,298,995▲ $1,269,920
Total Net Assets Fund Balance$11,029,075$12,298,995▲ $1,269,920
Total Liabilities and Net Assets / Fund Balance$11,029,204$12,300,067▲ $1,270,863
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$330,281
Program Service Revenue
$0
Investment Income
$1,466,382
Other Revenue
$0
All Other Contributions
$330,281
Change in Net Assets
$1,390,012

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table160$123,701Fair Market Value
Total Noncash Contributions160$123,701-

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,738,749
Revenue Not Reported on Financial Statements
$57,914
Revenue Not Reported on Form 990
$-120,092
Total Revenue per Audited Statements
$1,618,657
Total Revenue per Form 990
$1,796,663
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$259,250
Other Expenses$147,401
Total Fundraising Expense$6,439
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$259,250--$259,250
Fees for Service Investment Mgmnt Fees-$57,914-$57,914
Fees for Services Accounting-$10,452-$10,452
Office Expenses-$6,640-$6,640
Insurance-$2,185-$2,185
Other Expenses-$4,874$829$829
All Other Expenses--$623$623
Total Functional Expenses$259,250$140,962$6,439$406,651

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$406,651
Expenses per Audited Statements$348,737
Total Expenses per Audited Statements$348,737
Expenses Not Reported on Financial Statements$57,914
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 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, Page 6, Part VI, Line 6

All residents of panorama are members of the organization. Residents pay a one time fee of 1 to join.

Form 990, Page 6, Part VI, Line 7A

The members of the organization elect the board members.

Form 990, Page 6, Part VI, Line 11B

Form 990 was reviewed by the organization's board of trustees prior to filing with the internal revenue service.

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

The board and director sign a conflict of interest statement as part of their orientation and it is updated annually.

Form 990, Page 6, Part VI, Line 19

AVAILABLE UPON REQUEST.

Filing and Contact Details

Filer

Filer Name
Panorama Benevolent Fund
EIN
23-7191166
Phone
3604387556
Address
1751 CIRCLE LANE SE, LACEY, WA 98503

Signing Officer

Name
Defrance Clarke
Title
Co-treasurer
Phone
3604387556
Signed
2022-08-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jerry Gjovaag
Formed
1972
Legal Domicile
Wa
Voting Board Members
15
Independent Board Members
15
Employees
0
Volunteers
120

Preparer

Firm
Dnm & Associates Ps
Address
PO BOX 1156, SHELTON, WA 98584
Preparer
Daniel Mortensen CPA
Phone
3604265667
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE MEMBERS OF THE ORGANIZATION ELECT THE BOARD MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 WAS REVIEWED BY THE ORGANIZATION'S BOARD OF TRUSTEES PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD AND DIRECTOR SIGN A CONFLICT OF INTEREST STATEMENT AS PART OF THEIR ORIENTATION AND IT IS UPDATED ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4AVAILABLE UPON REQUEST.
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