Civic Intelligence

May Owen Irrevocable Trust

990 • Fiscal year 2020 • EIN 23-7377962

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 11, 2021

401 West 15th StreetAustin, TX 78701-1680

(512) 370-1490

Siviq Scores

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

Liabilities / Assets

15th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

15th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

9th percentile

-40%

Higher net margin than 9% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

98th percentile

$626,994

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 428.2% of source-year revenue.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

51st percentile

6.5%

Faster asset growth than 51% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

5th percentile

-63%

Faster revenue growth than 5% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Assets

Up

$4,677,266

Up $284,799 (+6.5%) from 2019

Net Assets

Up

$4,677,266

Up $284,799 (+6.5%) from 2019

Liabilities

Flat

$0

Flat from 2019

Revenue

Down

$146,421

Down $244,180 (-63%) from 2019

Expenses

Down

$204,853

Down $26,930 (-12%) from 2019

Net Income

Down

-$58,432

Down $217,250 (-137%) from 2019

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2019: $4,392,467Liabilities 2019: $0Net Assets 2019: $4,392,4672019Assets 2020: $4,677,266Liabilities 2020: $0Net Assets 2020: $4,677,2662020Assets 2021: $5,088,783Liabilities 2021: $0Net Assets 2021: $5,088,7832021Assets 2022: $4,349,225Liabilities 2022: $0Net Assets 2022: $4,349,2252022Assets 2023: $4,522,709Liabilities 2023: $0Net Assets 2023: $4,522,7092023Assets 2024: $4,660,202Liabilities 2024: $0Net Assets 2024: $4,660,2022024

Highlighted filing

2020

Assets$4,677,266
Liabilities$0
Net Assets$4,677,266

Operations Trend

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

$400K$200K$0-$200KRevenue 2019: $390,601Expenses 2019: $231,783Net Income 2019: $158,8182019Revenue 2020: $146,421Expenses 2020: $204,853Net Income 2020: -$58,4322020Revenue 2021: $273,310Expenses 2021: $147,721Net Income 2021: $125,5892021Revenue 2022: $162,795Expenses 2022: $273,800Net Income 2022: -$111,0052022Revenue 2023: $303,945Expenses 2023: $298,882Net Income 2023: $5,0632023Revenue 2024: $321,920Expenses 2024: $280,650Net Income 2024: $41,2702024

Highlighted filing

2020

Revenue$146,421
Expenses$204,853
Net Income-$58,432
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 11, 2021
Return Version
2020v4.1
Gross Receipts
$380,200
Mission and Program Overview

Mission

The purpose of this fund is to loan money to qualified medical students who establish financial need.

To loan money to qualified medical students who establish financial need.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$3,158,846$3,592,333▲ $433,487
Other Notes and Loans Receivable, Net$950,578$966,223▲ $15,645
Savings and Temporary Cash Investments$271,374$107,422▼ $163,952
Accounts Receivable$8,533$8,484▼ $49
Land, Buildings, and Equipment, Net$2,041$1,709▼ $332
Investments Other Securities$1,095$1,095→ $0
Total Assets$4,392,467$4,677,266▲ $284,799
Liabilities
Accounts Payable and Accrued Expenses$0$0→ $0
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets With Donor Restrictions$4,389,331$4,674,462▲ $285,131
Net Assets Without Donor Restrictions$3,136$2,804▼ $332
Total Net Assets Fund Balance$4,392,467$4,677,266▲ $284,799
Total Liabilities and Net Assets / Fund Balance$4,392,467$4,677,266▲ $284,799

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$1,709$134,236$135,945

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$826,082---$826,082
2019$826,082---$826,082
2018$826,082---$826,082
2017$826,082---$826,082
2016$826,082---$826,082
Compensation and Service Providers

Employees

NameTitleOtherTotal
Diana L Fite MdPres(20-21)/pres-elect(19-20)$133,333$133,333
David C Fleeger MdPres(19-20)/immed Past Pres(20-21)$66,667$66,667
E Linda Villarreal MdPres-elect(20-21)/chair (19-20)$4,000$4,000
Gary W Floyd MdChair (20-21)/vice Chair (19-20)$4,000$4,000

Board Members and Trustees

NameTitle
Richard W Snyder Ii MdVice Chair (20-21)/secretary (19-20)
Cynthia a Jumper MdTrustee
G Ray Callas MdTrustee
Jayesh B ShahmdTrustee
Joseph S Valenti MdTrustee
Keith a BourgeoismdTrustee
Kimberly E Monday MdTrustee
Sue S Bornstein MdTrustee
Michael DarrouzetEvp/CEO
Douglas W Curran MdImmed Past Pres(19-20)
Ankita V BrahmaroutuMedical Student Mbr
Vamsi K PotluriMedical Student Mbr
Michelle a Berger MdSecretary/treasurer
Arlo F Weltge MdSpeaker of the House(19-21)
Bradford W Holland MdVice Speaker of the House (19-21)
Kayla a Riggs MdYoung Physician Mbr
Lindsay K BotsfordmdYoung Physician Mbr
M Brett Cooper MdYoung Physician Mbr
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$45,740
Investment Income
$100,681
Other Revenue
$0
Change in Net Assets
$-58,432
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$106,038
Other Expenses$98,615
Grants and Similar Amounts Paid$200
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$78,526--$78,526
Fees for Services Management-$50,177-$50,177
Occupancy$24,222--$24,222
Information Technology$13,464$5,771-$19,235
Fees for Service Investment Mgmnt Fees-$13,375-$13,375
Pension Plan Contributions$11,812--$11,812
Other Employee Benefits$11,437--$11,437
Office Expenses$3,118$4,047-$7,165
Payroll Taxes$4,263--$4,263
Fees for Services Accounting-$2,050-$2,050
Depreciation Depletion-$332-$332
Travel$280--$280
Grants to Domestic Orgs$200--$200
Conferences and Meetings$145--$145
Fees for Services Legal-$75-$75
Other Expenses$-21,696--$-21,696
Total Functional Expenses$129,026$75,827$0$204,853
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
Yes
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

Form 990 is prepared by the director of the association accounting department. Prior to filing, the return is thoroughly reviewed by the executive vice president and the chief operating officer. The return is made available to all officers and trustees upon completion.

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

Disclosure of affiliations questionnaire is submitted by all officers and trustees annually. The conflict of interest policy is reviewed at the beginning of all board meetings.

Form 990, Part VI, Section C, Line 19

Governing documents, conflict of interest policy, and financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
May Owen Irrevocable Trust
EIN
23-7377962
Phone
5123701490
Address
401 WEST 15TH STREET, AUSTIN, TX 78701-1680

Signing Officer

Name
Michael Darrouzet
Title
Evp/CEO
Phone
5123701300
Signed
2021-11-11
Discuss with paid preparer
No

Organization Details

Principal Officer
Michael Darrouzet
Formed
1974
Legal Domicile
TX
Voting Board Members
18
Independent Board Members
17
Employees
0
Volunteers
25
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

The board of trustees approves selection of independent auditor. The annual audit report is formally presented to the board by the audit firm partner responsible for the engagement. At this time, the board also meets with the auditor in executive session to discuss any questions and concerns in absence of association staff.

Financial Statement Notes

PART X, LINE 2:

The organization accounts for uncertain tax positions based on a more-likely-than-not threshold for the recognition and de-recognition of tax positions, which includes the accounting for interest and penalties relating to tax positions. The organization does not currently have any material tax positions management considers uncertain at december 31, 2020.

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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/ReportableCompFromRltdOrgAmt150
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt160
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt170
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt180
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt190
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt200
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt21603766
IRS990/Form990PartVIISectionAGrp/TitleTxt0PRES(20-21)/PRES-ELECT(19-20)
IRS990/Form990PartVIISectionAGrp/TitleTxt1PRES(19-20)/IMMED PAST PRES(20-21)
IRS990/Form990PartVIISectionAGrp/TitleTxt2IMMED PAST PRES(19-20)
IRS990/Form990PartVIISectionAGrp/TitleTxt3PRES-ELECT(20-21)/CHAIR (19-20)
IRS990/Form990PartVIISectionAGrp/TitleTxt4SECRETARY/TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt5SPEAKER OF THE HOUSE(19-21)
IRS990/Form990PartVIISectionAGrp/TitleTxt6VICE SPEAKER OF THE HOUSE (19-21)
IRS990/Form990PartVIISectionAGrp/TitleTxt7CHAIR (20-21)/VICE CHAIR (19-20)
IRS990/Form990PartVIISectionAGrp/TitleTxt8VICE CHAIR (20-21)/SECRETARY (19-20)
IRS990/Form990PartVIISectionAGrp/TitleTxt9TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt10TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt11TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt12TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt13TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt14TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt15TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt16YOUNG PHYSICIAN MBR
IRS990/Form990PartVIISectionAGrp/TitleTxt17YOUNG PHYSICIAN MBR
IRS990/Form990PartVIISectionAGrp/TitleTxt18YOUNG PHYSICIAN MBR
IRS990/Form990PartVIISectionAGrp/TitleTxt19MEDICAL STUDENT MBR
IRS990/Form990PartVIISectionAGrp/TitleTxt20MEDICAL STUDENT MBR
IRS990/Form990PartVIISectionAGrp/TitleTxt21EVP/CEO
IRS990/Form990ProvidedToGvrnBodyInd00
IRS990/FormationYr01974
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/ConsolidatedBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GainOrLossGrp/SecuritiesAmt033099
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt018
IRS990/GrantAmt0200
IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt0200
IRS990/GrantsToDomesticOrgsGrp/TotalAmt0200
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossAmountSalesAssetsGrp/SecuritiesAmt0266878
IRS990/GrossReceiptsAmt0380200
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt017
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt05771
IRS990/InformationTechnologyGrp/ProgramServicesAmt013464
IRS990/InformationTechnologyGrp/TotalAmt019235
IRS990/InvestmentIncomeGrp/ExclusionAmt067582
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt067582
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt01095
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt01095
IRS990/InvestmentsPubTradedSecGrp/BOYAmt03158846
IRS990/InvestmentsPubTradedSecGrp/EOYAmt03592333
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt0134236
IRS990/LandBldgEquipBasisNetGrp/BOYAmt02041
IRS990/LandBldgEquipBasisNetGrp/EOYAmt01709
IRS990/LandBldgEquipCostOrOtherBssAmt0135945
IRS990/LegalDomicileStateCd0TX
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt0233779
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0THE PURPOSE OF THIS FUND IS TO LOAN MONEY TO QUALIFIED MEDICAL STUDENTS WHO ESTABLISH FINANCIAL NEED.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt04392467
IRS990/NetAssetsOrFundBalancesEOYAmt04677266
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt033099
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt033099
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt0343231
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt03136
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt02804
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt024222
IRS990/OccupancyGrp/TotalAmt024222
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt04047
IRS990/OfficeExpensesGrp/ProgramServicesAmt03118
IRS990/OfficeExpensesGrp/TotalAmt07165
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt011437
IRS990/OtherEmployeeBenefitsGrp/TotalAmt011437
IRS990/OtherExpensesGrp/Desc0CREDIT LIFE INSURANCE
IRS990/OtherExpensesGrp/Desc1BAD DEBT EXPENSE
IRS990/OtherExpensesGrp/ProgramServicesAmt03255
IRS990/OtherExpensesGrp/ProgramServicesAmt1-21696
IRS990/OtherExpensesGrp/TotalAmt03255
IRS990/OtherExpensesGrp/TotalAmt1-21696
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt078526
IRS990/OtherSalariesAndWagesGrp/TotalAmt078526
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0950578
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0966223
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/ProgramServicesAmt04263
IRS990/PayrollTaxesGrp/TotalAmt04263
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt011812
IRS990/PensionPlanContributionsGrp/TotalAmt011812
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0MICHAEL DARROUZET
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/Desc0STUDENT LOAN INTEREST
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt045740
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt045740
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0350
IRS990/PYInvestmentIncomeAmt0345628
IRS990/PYOtherExpensesAmt0129913
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt044973
IRS990/PYRevenuesLessExpensesAmt0158818
IRS990/PYSalariesCompEmpBnftPaidAmt0101520
IRS990/PYTotalExpensesAmt0231783
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0390601
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0-58432
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt045740
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0271374
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0107422
IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd01
IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgQualifiedInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind01
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtExclusivelySec170c2BInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd00

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