Liabilities / Assets
99th percentile
Higher debt load relative to assets than 99% of similar nonprofits.
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
11.16x
Liabilities / Revenue
Score unavailable
Liabilities-to-revenue requires both liabilities and revenue on this filing.
Net Margin
Score unavailable
Net margin requires both revenue and expenses on this filing.
Top Officer Pay
Score unavailable
This filing does not contain officer compensation rows.
Asset Growth
98th percentile
Faster asset growth than 98% of similar nonprofits.
Revenue Growth
Score unavailable
No valid filing value is available for this score.
Balance Sheet
Assets
Up$21,783
Up $18,071 (+487%) from 2011
Net Assets
Up-$221,335
Up $22,277 (+9.1%) from 2011
Liabilities
Down$243,118
Down $4,206 (-1.7%) from 2011
Revenue And Expenses
Revenue
-
No earlier filing loaded for comparison.
Expenses
Down$303,141
Down $356,995 (-54%) from 2011
Net Income
-
No earlier filing loaded for comparison.
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jul 1, 2011 to Jun 30, 2012
- Signed
- Nov 14, 2012
- Return Version
- 2011v1.2
- Gross Receipts
- $325,418
Mission and Program Overview
Mission
The CTC Foundation (the Foundation) was established by Concurrent Technologies Corporation (CTC) with the objective to draw expertise and multi-faceted capabilities to tangibly enhance the lives of people. The Foundation's grant making is in support of CTC's mission.
Filing and Contact Details
Filer
- EIN
- 25-1811888
Raw XML AppendixShowing 400 of 518 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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| IRS990ScheduleD/Form990ScheduleDPartXIV/Explanation | 0 | The Foundation adopted guidance that created a single model to address uncertainty in tax positions and clarified the accounting for income taxes by prescribing the minimum recognition threshold a tax position is required to meet before being recognized in its consolidated financial statements. Under the requirements of this guidance, organizations could now be required to record an obligation as the result of tax positions they have historically taken on various tax exposure items. Management has determined that it has no uncertain tax positions that required adjustment to the consolidated financial statements. The Foundation performed an extensive analysis under the guidance of its auditor, Grant Thornton, LLP, a national public accounting firm. |
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| IRS990ScheduleI/Form990ScheduleIPartIV/Explanation | 0 | Schedule I, Part I, Line 2: The Foundation makes use of an independent charitable contributions committee that is tasked with reviewing all incoming charitable contribution requests. Due diligence is performed on each organizations' request looking for items such as charitable status, programs and services rendered to the public, community outreach, etc.... The Foundation maintains a historical database of all charitable contribution recipients from each year and will often refer to this database to see past support levels. |
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| IRS990ScheduleJ/Form990ScheduleJPartIII/Explanation | 0 | An annual compensation examination and comparison of peer corporations' IRS Form 990 reporting is used to determine the market appropriateness of the Executive Director's compensation. |
| IRS990ScheduleJ/Form990ScheduleJPartIII/Explanation | 1 | The Vice-Chairman & President of the Foundation is also an officer of Concurrent Technologies Corporation (CTC). His compensation is determined by CTC. During fiscal tear 2010, CTC terminated its Supplemental Executive Retirement Plan (SERP). Upon termination, all deferred compensation amounts were immediately vested and taxable to the individual participants, but the plan assets could not be distributed for 12 months following the plan's termination. The compensation portion of the distribution during the current year, reflects the taxable SERP compensation relative to the 2010 plan termination. Taxable compensation for the Foundation's Vice-Chairman & President was as follows: Edward J. Sheehan, Jr., Vice-Chairman & President - $65,941 The taxable compensation amount relates to his employment with CTC and has no impact on the Foundation, as the Foundation does not maintain a supplemental nonqualified retirement plan for its employees. |
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| IRS990ScheduleJ/Form990ScheduleJPartIII/ReturnReference | 1 | Part I, Line 4b |
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| IRS990ScheduleO/GeneralExplanation/Explanation | 0 | The Foundation's objective is to draw expertise and multi-faceted capabilities to tangibly enhance the lives of people. The Foundation meets this goal by engaging individual and institutional donors to help advance the development and application of innovative, technological and humanistic principles to enhance economic progress and the quality of life. From an independent platform, the Foundation is dedicated to developing solutions to regional and national challenges by: -Advancing education, health care and workforce training; -Matching emerging technologies to the needs of industry; -Developing alliances dedicated to sound economic development; -Benchmarking and disseminating best practices; and -Providing innovative strategies to fund and transition effective solutions. To meet these challenges, the Foundation utilizes the competencies of Concurrent Technologies Corporation (CTC), academia and other institutions. The Foundation also serves as the philanthropic arm of CTC. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 1 | CTC Foundation prepares its annual Form 990 internally and utilizes external legal counsel to perform an extensive review. The Foundation's Form 990 is distributed to all Board of Director members prior to its due date. Each member is requested to review the return in detail, ask questions regarding any data contained in the return and formally acknowledge acceptance and approval of the return and its contents prior to the return being filed. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 2 | Under the coordination of its related organization, Concurrent Technologies Corporation (CTC), the Foundation employs a formal internal electronic portal that requires key staff to properly disclose any interest or financial holding. This information is reviewed by the CTC Ethics Officer to determine if potential or actual conflicts of interest exist. CTC's Ethics Officer is responsible for seeing that compliance with the electronic reporting system is enforced and that each conflict statement is updated annually. When conflicts of interest are identified, they are adjudicated by the Ethics Officer and an assessment is provided to CTC's President & CEO, the Chairman of CTC's and the Foundation's Board, and each Board of Directors. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 3 | An annual compensation examination and comparison of peer corporations' IRS Form 990 reporting is used to determine the market appropriateness of the Executive Director's compensation. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 4 | The Foundation makes all of its governing documents, conflict of interest policies and its annual Form 990 available to the public upon request. Requests may be made in writing, via telephone or in person to the Foundation's Executive Director. |
| IRS990ScheduleO/GeneralExplanation/Explanation | 5 | The Foundation is part of a consolidated financial statement audit that includes CTC. It is CTC's practice to undergo its annual external audit, and produce its consolidated audited financial statements in accordance with this audit process, by August 15, if possible, of each year. CTC contracts with an independent national public accounting firm to perform its audit. |
| IRS990ScheduleO/GeneralExplanation/Identifier | 0 | Organization Mission Statement |
| IRS990ScheduleO/GeneralExplanation/Identifier | 1 | Organization's Financial Statements Audited by an Independent Accountant: |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 0 | Form 990, Part I, Line 1 |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 1 | Form 990, Part VI, Section B, line 11 |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 2 | Form 990, Part VI, Section B, line 12c |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 3 | Form 990, Part VI, Section B, line 15a |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 4 | Form 990, Part VI, Section C, line 19 |
| IRS990ScheduleO/GeneralExplanation/ReturnReference | 5 | Form 990, Part XII Line 2 |
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Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2012 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.
- Assets
- $21,783
- Liabilities
- $243,118
- Net assets
- -$221,335
- Revenue
- -
- Expenses
- $303,141
- Net income
- -