Civic Intelligence

Institute for Advanced Catholic Studies

990 • Fiscal year 2019 • EIN 25-1843470

Jul 01, 2018 to Jun 30, 2019 • Filed on May 12, 2020

3601 Watt Way Gfs 304Los Angeles, CA 90089-1693

(213) 740-1864

Siviq Scores

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

Liabilities / Assets

15th percentile

0.01x

Higher debt load relative to assets than 15% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

18th percentile

0.03x

Higher debt load relative to revenue than 18% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Net Margin

90th percentile

45%

Higher net margin than 90% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

21st percentile

$0

Higher top officer pay than 21% of similar nonprofits.

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

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Asset Growth

73rd percentile

12%

Faster asset growth than 73% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

63rd percentile

8.8%

Faster revenue growth than 63% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Assets

Up

$8,536,376

Up $933,615 (+12%) from 2018

Net Assets

Up

$8,488,709

Up $976,755 (+13%) from 2018

Liabilities

Down

$47,667

Down $43,140 (-48%) from 2018

Revenue

Up

$1,634,911

Up $132,610 (+8.8%) from 2018

Expenses

Up

$892,218

Up $19,362 (+2.2%) from 2018

Net Income

Up

$742,693

Up $113,248 (+18%) from 2018

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2011: $361,821Liabilities 2011: $0Net Assets 2011: $361,8212011Assets 2014: $3,221,357Liabilities 2014: $68,899Net Assets 2014: $3,152,4582014Assets 2015: $3,228,373Liabilities 2015: $80,892Net Assets 2015: $3,147,4812015Assets 2016: $5,875,966Liabilities 2016: $103,060Net Assets 2016: $5,772,9062016Assets 2017: $6,908,687Liabilities 2017: $67,410Net Assets 2017: $6,841,2772017Assets 2018: $7,602,761Liabilities 2018: $90,807Net Assets 2018: $7,511,9542018Assets 2019: $8,536,376Liabilities 2019: $47,667Net Assets 2019: $8,488,7092019Assets 2020: $8,515,668Liabilities 2020: $46,582Net Assets 2020: $8,469,0862020Assets 2021: $10,188,877Liabilities 2021: $39,208Net Assets 2021: $10,149,6692021Assets 2022: $8,820,058Liabilities 2022: $69,500Net Assets 2022: $8,750,5582022Assets 2023: $9,194,608Liabilities 2023: $46,247Net Assets 2023: $9,148,3612023Assets 2024: $9,906,263Liabilities 2024: $38,959Net Assets 2024: $9,867,3042024

Highlighted filing

2019

Assets$8,536,376
Liabilities$47,667
Net Assets$8,488,709

Operations Trend

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MExpenses 2011: $443,4332011Revenue 2014: $493,511Expenses 2014: $940,069Net Income 2014: -$446,5582014Revenue 2015: $1,063,335Expenses 2015: $941,077Net Income 2015: $122,2582015Revenue 2016: $3,318,001Expenses 2016: $688,864Net Income 2016: $2,629,1372016Revenue 2017: $1,513,798Expenses 2017: $757,861Net Income 2017: $755,9372017Revenue 2018: $1,502,301Expenses 2018: $872,856Net Income 2018: $629,4452018Revenue 2019: $1,634,911Expenses 2019: $892,218Net Income 2019: $742,6932019Revenue 2020: $1,102,763Expenses 2020: $974,344Net Income 2020: $128,4192020Revenue 2021: $1,126,335Expenses 2021: $770,434Net Income 2021: $355,9012021Revenue 2022: $848,861Expenses 2022: $744,011Net Income 2022: $104,8502022Revenue 2023: $443,206Expenses 2023: $803,470Net Income 2023: -$360,2642023Revenue 2024: $886,522Expenses 2024: $1,059,724Net Income 2024: -$173,2022024

Highlighted filing

2019

Revenue$1,634,911
Expenses$892,218
Net Income$742,693
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
May 12, 2020
Return Version
2018v3.1
Gross Receipts
$1,634,911
Mission and Program Overview

Mission

The institute's mission is to conduct research on key issues facing society to help the church deal thoughtfully with the major issues it faces globally. The institute also sponsors and conducts research and scholarship on all aspects of the catholic tradition, cultural/ecclesial heritage of catholicism, and disseminate the results of such research.

Sponsorship of advanced research of catholicism.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$4,107,716$6,442,125▲ $2,334,409
Pledges and Grants Receivable$1,892,104$735,089▼ $1,157,015
Cash and Non-Interest-Bearing Accounts$95,465$82,089▼ $13,376
Prepaid Expenses and Deferred Charges$454$13,554▲ $13,100
Accounts Receivable$2,221--
Total Assets$7,602,761$8,536,376▲ $933,615
Other Assets Total$1,504,801$1,263,519▼ $241,282
Liabilities
Accounts Payable and Accrued Expenses$90,807$47,667▼ $43,140
Total Liabilities$90,807$47,667▼ $43,140
Net Assets / Fund Balance
Permanently Rstr Net Assets$4,993,395$5,226,807▲ $233,412
Unrestricted Net Assets$1,530,146$1,762,191▲ $232,045
Temporarily Rstr Net Assets$988,413$1,499,711▲ $511,298
Total Net Assets Fund Balance$7,511,954$8,488,709▲ $976,755
Total Liabilities and Net Assets / Fund Balance$7,602,761$8,536,376▲ $933,615

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$1,263,519--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$5,531,327$237,412▲ $286,831-$6,055,570
2017$4,734,001$612,220▲ $185,106-$5,531,327
2016$4,006,149$455,423▲ $272,429-$4,734,001
2015$1,526,203$2,421,754▲ $58,192-$4,006,149
2014$1,501,595-▲ $24,608-$1,526,203
Compensation and Service Providers
Revenue and Support

Revenue Composition

Contributions and Grants
$1,391,444
Program Service Revenue
$0
Investment Income
$235,311
Other Revenue
$8,156
All Other Contributions
$1,391,444
Change in Net Assets
$742,693

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,600,110
Revenue Not Reported on Financial Statements
$34,801
Revenue Not Reported on Form 990
$234,062
Total Revenue per Audited Statements
$1,834,172
Total Revenue per Form 990
$1,634,911
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$572,668
Other Expenses$319,550
Total Fundraising Expense$271,764
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$121,873$178,977$190,775$491,625
Other Employee Benefits$24,712$36,291$20,040$81,043
Fees for Services Accounting$16,450$35,908$13,341$65,699
Fees for Services Management$11,184$16,424$9,070$36,678
Fees for Service Investment Mgmnt Fees-$34,801-$34,801
Travel$14,980$8,208$8,026$31,214
Office Expenses$12,682$11,661$5,787$30,130
Conferences and Meetings$8,207$10,266$7,907$26,380
Insurance$4,208$6,180$3,413$13,801
Occupancy$1,890$4,852$1,533$8,275
Advertising$7,014$35$19$7,068
All Other Expenses$2,483$1,921$1,098$5,502
Information Technology$1,503$2,207$1,219$4,929
Other Expenses$798$1,171$647$2,616
Total Functional Expenses$267,691$352,763$271,764$892,218

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$892,218
Expenses per Audited Statements$857,417
Total Expenses per Audited Statements$857,417
Expenses Not Reported on Financial Statements$34,801
Expenses Not Reported on Form 990$0
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
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, Part VI, Section A, Line 8B

The organization does not have a committee with the authority to act on behalf of the governing body.

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

The institute's tax return is reviewed by the audit committee prior to filing. Also, a copy of the tax return is distributed to board members without schedule b or the schedule a supporting statement identifying excess contributions for review before filing.

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

In connection with any actual or possible conflicts of interest, an interested person must disclose the existence and nature of his or her financial interest to the board or to members of committees with board-delegated powers considering the proposed transaction or arrangement. Such disclosure should be made promptly upon discovery of the existence of any actual or potential conflict of interest, and in the annual disclosure statement. After disclosure of the financial interest, the interested person is required to leave the board or committee meeting while the financial interest is discussed and voted upon. The remaining board or committee members shall decide if a conflict of interest exists and, if so, how it should be addressed. Directors are required annually sign a statement that confirms whether or not such person has any actual or potential conflict of interest and, if so, discloses the nature of that actual or potential conflict. The annual disclosure statement also affirms that the director has received a copy of this conflict of interest policy, has read and understands the policy, and has agreed to comply with the policy. During the year ended june 30, 2018, the organization obtained the annual signed conflict of interest representation forms from members of its board of directors

Form 990, Part VI, Section B, Line 15A

The president's salary is determined by the board after careful consideration of goals and evaluation of performance, and follow i.r.s. Safe-harbor procedures. Payments are made to the president's religious order.

Form 990, Part VI, Section C, Line 18

The organization's form 990 is available upon request. The organization's form 990, without schedule b or the schedule a supporting statement identifying excess contributions, is also available on public website www.guidestar.org.

Form 990, Part VI, Section C, Line 19

The organization's governing documents, conflict of interest policy and financial statements are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
The Institute for Advanced Catholic
EIN
25-1843470
Phone
2137401864
Address
3601 WATT WAY GFS 304, LOS ANGELES, CA 90089-1693

Signing Officer

Name
Father James Heft
Title
President
Phone
2137401864
Signed
2020-05-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Father James Heft
Formed
1999
Legal Domicile
Dc
Voting Board Members
20
Independent Board Members
19
Employees
0
Volunteers
0

Preparer

Firm
Cliftonlarsonallen Llp
Address
301 NORTH LAKE AVENUE SUITE 900, PASADENA, CA 91101
Preparer
David Robydek
Phone
6267933600
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Ln 2C

The process has not changed from prior year

Financial Statement Notes

PART X, LINE 2:

Generally accepted accounting principles provide accounting and disclosure guidance about positions taken by an organization in its tax returns that might be uncertain. Management has considered its tax positions and believes that all of the positions taken by the institute in its tax returns are more likely than not to be sustained upon examination.

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IRS990/Desc0THE INSTITUTE DEVELOPS DISTINCTIVE INTELLECTUAL CAPITAL BY STUDYING THE LONG AND RICH CATHOLIC INTELLECTUAL TRADITION. THAT TRADITION INCLUDES NOT ONLY BRILLIANT THEOLOGIANS AND PHILOSOPHERS, BUT ALSO SCIENTISTS, SOCIAL SCIENTISTS, HISTORIANS, POETS, WRITERS, ARTISTS, ARCHITECTS AND MUSICIANS. THE INSTITUTE PROMOTES UNDERSTANDING, CRITIQUING, AND DEVELOPING CATHOLIC INTELLECTUAL LIFE FOR THE SERVICE NOT ONLY OF THE CHURCH, BUT ALL RELIGIONS, ESPECIALLY AS IT DEDICATES ITSELF TO THE COMMON GOOD.THE INSTITUTE DRAWS UPON AN INTERNATIONAL GROUP OF SCHOLARS, ALL OF WHOM, WHATEVER THEIR RELIGIOUS BACKGROUND OR SCHOLARLY DISCIPLINE, SEEK TO UNDERSTAND CATHOLICISM AND ITS VALUE FOR THE WORLD TODAY.THE INSTITUTE'S RESEARCH, PUBLICATIONS, CONFERENCES, AND ARTICLES ARE INTERNATIONALLY RECOGNIZED AS THOUGHTFUL CONTRIBUTIONS TO THE UNDERSTANDING, CLARIFICATION AND RESOLUTION OF MAJOR ISSUES FACING THE CHURCH, RELIGIONS AND GLOBAL SOCIETY.SINCE 2007, THE INSTITUTE HAS ORGANIZED AN ANNUAL LECTURE SERIES AT USC WHICH PROVIDES A VENUE FOR EXAMINING RELIGION AND PUBLIC LIFE BY FEATURING THE WORK OF SCHOLARS, JOURNALISTS, ARTISTS, AND LEADERS.THROUGH A RANGE OF MEETINGS, COLLOQUIA, CONFERENCES AND SEMINARS, THE INSTITUTE COORDINATES AND SPONSORS SCHOLARSHIP ON A NUMBER OF CORE THEMES AS FOLLOWS: .THE TRUE WEALTH OF NATIONS: CATHOLIC SOCIAL THOUGHT AND ECONOMICS .EDUCATION: CATHOLIC AND INTERRELIGIOUS .CATHOLIC TRADITION AND THE EXERCISE OF AUTHORITY .THE GENERATIONS IN DIALOGUE .INTERRELIGIOUS AND ECUMENICAL TOPICS
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