Civic Intelligence

Falatok Foundation

990 • Fiscal year 2016 • EIN 26-0641848

Jan 01, 2016 to Dec 31, 2016 • Filed on Apr 22, 2017

424 E Kennedy StreetSpartanburg, SC 29302

(864) 582-0138

Siviq Scores

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

Liabilities / Assets

14th percentile

0.00x

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

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

14th percentile

0.00x

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

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

97th percentile

82%

Higher net margin than 97% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

72nd percentile

9.6%

Faster asset growth than 72% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

57th percentile

5.7%

Faster revenue growth than 57% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Assets

Up

$1,872,116

Up $164,121 (+9.6%) from 2015

Net Assets

Up

$1,872,116

Up $164,121 (+9.6%) from 2015

Liabilities

Flat

$0

Flat from 2015

Revenue

Up

$133,866

Up $7,188 (+5.7%) from 2015

Expenses

Up

$23,683

Up $12,207 (+106%) from 2015

Net Income

Down

$110,183

Down $5,019 (-4.4%) from 2015

Historical Trend

Balance Sheet Trend

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2010: $1,084,475Liabilities 2010: $0Net Assets 2010: $1,084,4752010Assets 2011: $1,146,260Liabilities 2011: $0Net Assets 2011: $1,146,2602011Assets 2012: $1,353,747Liabilities 2012: $0Net Assets 2012: $1,353,7472012Assets 2013: $1,459,517Liabilities 2013: $0Net Assets 2013: $1,459,5172013Assets 2014: $1,603,384Liabilities 2014: $0Net Assets 2014: $1,603,3842014Assets 2015: $1,707,995Liabilities 2015: $0Net Assets 2015: $1,707,9952015Assets 2016: $1,872,116Liabilities 2016: $0Net Assets 2016: $1,872,1162016Assets 2017: $2,045,442Liabilities 2017: $0Net Assets 2017: $2,045,4422017Assets 2018: $2,080,733Liabilities 2018: $0Net Assets 2018: $2,080,7332018Assets 2019: $2,300,698Liabilities 2019: $0Net Assets 2019: $2,300,6982019Assets 2020: $2,520,808Liabilities 2020: $0Net Assets 2020: $2,520,8082020Assets 2021: $2,710,692Liabilities 2021: $0Net Assets 2021: $2,710,6922021Assets 2022: $2,893,667Liabilities 2022: $0Net Assets 2022: $2,893,6672022Assets 2024: $3,366,502Liabilities 2024: $0Net Assets 2024: $3,366,5022024

Highlighted filing

2016

Assets$1,872,116
Liabilities$0
Net Assets$1,872,116

Operations Trend

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

$600K$400K$200K$0Expenses 2010: $13,6202010Expenses 2011: $12,0092011Expenses 2012: $11,5872012Revenue 2013: $117,524Expenses 2013: $11,754Net Income 2013: $105,7702013Revenue 2014: $155,854Expenses 2014: $11,987Net Income 2014: $143,8672014Revenue 2015: $126,678Expenses 2015: $11,476Net Income 2015: $115,2022015Revenue 2016: $133,866Expenses 2016: $23,683Net Income 2016: $110,1832016Revenue 2017: $146,714Expenses 2017: $76,423Net Income 2017: $70,2912017Revenue 2018: $162,738Expenses 2018: $60,822Net Income 2018: $101,9162018Revenue 2019: $162,089Expenses 2019: $70,218Net Income 2019: $91,8712019Revenue 2020: $172,320Expenses 2020: $40,236Net Income 2020: $132,0842020Revenue 2021: $169,333Expenses 2021: $75,699Net Income 2021: $93,6342021Revenue 2022: $425,840Expenses 2022: $109,307Net Income 2022: $316,5332022Revenue 2024: $222,064Expenses 2024: $70,074Net Income 2024: $151,9902024

Highlighted filing

2016

Revenue$133,866
Expenses$23,683
Net Income$110,183
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Apr 22, 2017
Return Version
2016v3.0
Gross Receipts
$133,866
Mission and Program Overview

Mission

Charitable and philanthropic endeavors in support of and in conjunction with the spartanburg county foundation

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$857,827$905,508▲ $47,681
Total Assets$1,707,995$1,872,116▲ $164,121
Other Assets Total$850,168$966,608▲ $116,440
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$1,707,995$1,872,116▲ $164,121
Total Net Assets Fund Balance$1,707,995$1,872,116▲ $164,121
Total Liabilities and Net Assets / Fund Balance$1,707,995$1,872,116▲ $164,121

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$966,608--
Other Securities$42,428--
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$100,000
Program Service Revenue
$0
Investment Income
$3,163
Other Revenue
$30,703
All Other Contributions
$100,000
Change in Net Assets
$110,183

Audited Revenue Reconciliation

Revenue per Audited Statements
$103,163
Revenue Not Reported on Financial Statements
$30,703
Revenue Not Reported on Form 990
$53,938
Other Revenue Adjustments
$30,703
Total Revenue per Audited Statements
$157,101
Total Revenue per Form 990
$133,866
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$12,989
Grants and Similar Amounts Paid$10,694
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management-$11,135-$11,135
Grants to Domestic Orgs$10,694--$10,694
Conferences and Meetings-$1,854-$1,854
Total Functional Expenses$10,694$12,989$0$23,683

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$23,683
Total Expenses per Form 990$23,683
Expenses Not Reported on Financial Statements$0
Total Expenses per Audited Statements$-7,020
Expenses Not Reported on Form 990$-30,703
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Northside Development CorporationSpartanburg, SC501(c)(3)Revitalization of Neighborhood$10,000
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
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
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 2

Andrew falatok / lynne falatok family relationship

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

Copy of form 990 and attachments are given to all trustees for their review prior to filing. The return is reviewed by the president of spartanburg county foundation and a principal trustee of the falatok foundation, who signs the return.

Form 990, Part VI, Section C, Line 19

Upon request, the financial statements and form 990 are available for inspection at the office of spartanburg county foundation, 424 e. Kennedy street, spartanburg, sc 29302, telephone 864-582-0138, between the hours of 9am and 4pm, monday through friday.

Filing and Contact Details

Filer

Filer Name
Falatok Foundation
EIN
26-0641848
Phone
8645820138
Address
424 E KENNEDY STREET, SPARTANBURG, SC 29302

Signing Officer

Name
Andrew J Falatok
Title
Chairman
Phone
8645820138
Signed
2017-04-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Andrew J Falatok
Formed
2007
Legal Domicile
Sc
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
0

Preparer

Firm
Mcabee Schwartz Halliday & Co
Address
824 EAST MAIN STREET, SPARTANBURG, SC 29302
Preparer
Homer E Mcabee Jr
Phone
8645830886
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2(C)

The audit is reviewed by the spartanburg county foundation board of trustees. There has been no change in the procedures from prior years.

Financial Statement Notes

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Excess cash value life insurance

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Excess cash value life insurance

XXI 4B and XIII 2D

Excess cash value of life insurance $26,678

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IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd1F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd2F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd3F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd4F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd5F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd6F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd7F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd8F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd9F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd10F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd11F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd12F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd13F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd14F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd15F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd16F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd17F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd18F
IRS990ScheduleD/RevenueNotReportedAmt053938
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt030703
IRS990ScheduleD/RevenueSubtotalAmt0103163
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0EXCESS CASH VALUE LIFE INSURANCE
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1EXCESS CASH VALUE LIFE INSURANCE
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2EXCESS CASH VALUE OF LIFE INSURANCE $26,678
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART XI, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2XXI 4B AND XIII 2D
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0966608
IRS990ScheduleD/TotalBookValueSecuritiesAmt0905508
IRS990ScheduleD/TotalExpensesPerForm990Amt023683
IRS990ScheduleD/TotalRevenuePerForm990Amt0133866
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0157101
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0-7020
IRS990ScheduleI/GrantRecordsMaintainedInd00
IRS990ScheduleI/RecipientTable/CashGrantAmt010000
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(3)
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0REVITALIZATION OF NEIGHBORHOOD
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0NORTHSIDE DEVELOPMENT CORPORATION
IRS990ScheduleI/RecipientTable/RecipientEIN0300698663
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0PO BOX 1749
IRS990ScheduleI/RecipientTable/USAddress/CityNm0SPARTANBURG
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0SC
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd029304
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ANDREW FALATOK / LYNNE FALATOK FAMILY RELATIONSHIP
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1COPY OF FORM 990 AND ATTACHMENTS ARE GIVEN TO ALL TRUSTEES FOR THEIR REVIEW PRIOR TO FILING. THE RETURN IS REVIEWED BY THE PRESIDENT OF SPARTANBURG COUNTY FOUNDATION AND A PRINCIPAL TRUSTEE OF THE FALATOK FOUNDATION, WHO SIGNS THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2UPON REQUEST, THE FINANCIAL STATEMENTS AND FORM 990 ARE AVAILABLE FOR INSPECTION AT THE OFFICE OF SPARTANBURG COUNTY FOUNDATION, 424 E. KENNEDY STREET, SPARTANBURG, SC 29302, TELEPHONE 864-582-0138, BETWEEN THE HOURS OF 9AM AND 4PM, MONDAY THROUGH FRIDAY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE AUDIT IS REVIEWED BY THE SPARTANBURG COUNTY FOUNDATION BOARD OF TRUSTEES. THERE HAS BEEN NO CHANGE IN THE PROCEDURES FROM PRIOR YEARS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XII, LINE 2(C)
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0SPARTANBURG COUNTY FOUNDATIN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0570351398
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0SC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0FOUNDATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 7
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0424 E KENNEDY STREET
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0SPARTANBURG
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0SC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd029302
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt011135
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0SPARTANBURG COUNTY FOUNDATION
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0R
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd01
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01707995
IRS990/TotalAssetsEOYAmt01872116
IRS990/TotalAssetsGrp/BOYAmt01707995
IRS990/TotalAssetsGrp/EOYAmt01872116
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0100000
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt012989
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt010694
IRS990/TotalFunctionalExpensesGrp/TotalAmt023683
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01707995
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01872116
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt010694
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt033866
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0133866
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01707995
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01872116
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.37$0.00$3.37$0.22$0.07$0.15
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.89$0.00$2.89$0.43$0.11$0.32
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.71$0.00$2.71$0.17$0.08$0.09
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.52$0.00$2.52$0.17$0.04$0.13
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.30$0.00$2.30$0.16$0.07$0.09
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.08$0.00$2.08$0.16$0.06$0.10
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.05$0.00$2.05$0.15$0.08$0.07
2016Detailed filing. Detailed filing data is available for this year.$1.87$0.00$1.87$0.13$0.02$0.11
2015Detailed filing. Detailed filing data is available for this year.$1.71$0.00$1.71$0.13$0.01$0.12
2014Detailed filing. Detailed filing data is available for this year.$1.60$0.00$1.60$0.16$0.01$0.14
2013Detailed filing. Detailed filing data is available for this year.$1.46$0.00$1.46$0.12$0.01$0.11
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.35$0.00$1.35$0.01
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.15$0.00$1.15$0.01
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.08$0.00$1.08$0.01