Civic Intelligence

Arc Finance Ltd

990 • Fiscal year 2016 • EIN 26-2522724

Jan 01, 2016 to Dec 31, 2016 • Filed on Nov 09, 2017

70 Overlook RoadHastings On Hudson, NY 10706

(914) 478-3851

Siviq Scores

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

Liabilities / Assets

77th percentile

0.45x

Higher debt load relative to assets than 77% of similar nonprofits.

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

Liabilities / Revenue

56th percentile

0.15x

Higher debt load relative to revenue than 56% of similar nonprofits.

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

Net Margin

37th percentile

-1.3%

Higher net margin than 37% of similar nonprofits.

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

Top Officer Pay

87th percentile

$174,900

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 11.4% of source-year revenue.

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

Asset Growth

91st percentile

46%

Faster asset growth than 91% of similar nonprofits.

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

Revenue Growth

17th percentile

-18%

Faster revenue growth than 17% of similar nonprofits.

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

Assets

Up

$499,902

Up $157,734 (+46%) from 2015

Net Assets

Up

$274,865

Up $33,627 (+14%) from 2015

Liabilities

Up

$225,037

Up $124,107 (+123%) from 2015

Revenue

Down

$1,533,784

Down $332,621 (-18%) from 2015

Expenses

Down

$1,554,274

Down $254,225 (-14%) from 2015

Net Income

Down

-$20,490

Down $78,396 (-135%) from 2015

Historical Trend

Balance Sheet Trend

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

$600K$400K$200K$0Assets 2012: $349,809Liabilities 2012: $70,352Net Assets 2012: $279,4572012Assets 2013: $291,286Liabilities 2013: $20,580Net Assets 2013: $270,7062013Assets 2014: $192,194Liabilities 2014: $26,106Net Assets 2014: $166,0882014Assets 2015: $342,168Liabilities 2015: $100,930Net Assets 2015: $241,2382015Assets 2016: $499,902Liabilities 2016: $225,037Net Assets 2016: $274,8652016Assets 2017: $366,636Liabilities 2017: $217,650Net Assets 2017: $148,9862017Assets 2018: $150,118Liabilities 2018: $13,856Net Assets 2018: $136,2622018

Highlighted filing

2016

Assets$499,902
Liabilities$225,037
Net Assets$274,865

Operations Trend

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

$2.0M$1.5M$1.0M$500K$0-$500KExpenses 2012: $1,174,3302012Revenue 2013: $1,510,238Expenses 2013: $1,518,988Net Income 2013: -$8,7502013Revenue 2014: $1,478,182Expenses 2014: $1,582,800Net Income 2014: -$104,6182014Revenue 2015: $1,866,405Expenses 2015: $1,808,499Net Income 2015: $57,9062015Revenue 2016: $1,533,784Expenses 2016: $1,554,274Net Income 2016: -$20,4902016Revenue 2017: $1,398,240Expenses 2017: $1,524,119Net Income 2017: -$125,8792017Revenue 2018: $91,636Expenses 2018: $104,360Net Income 2018: -$12,7242018

Highlighted filing

2016

Revenue$1,533,784
Expenses$1,554,274
Net Income-$20,490
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Nov 9, 2017
Return Version
2016v3.0
Gross Receipts
$1,533,784
Mission and Program Overview

Mission

To promote and expand access to financing modern energy, clean water and other basic needs to build the income and assets of poor people around the world.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$168,107$222,468▲ $54,361
Accounts Receivable$94,149$143,405▲ $49,256
Investments Other Securities$70,588$94,117▲ $23,529
Savings and Temporary Cash Investments$39,912$39,912→ $0
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$372,756$499,902▲ $127,146
Other Assets Total-$0-
Liabilities
Deferred Revenue-$120,000-
Accounts Payable and Accrued Expenses$100,930$105,037▲ $4,107
Total Liabilities$100,930$225,037▲ $124,107
Net Assets / Fund Balance
Unrestricted Net Assets$271,826$274,865▲ $3,039
Total Net Assets Fund Balance$271,826$274,865▲ $3,039
Total Liabilities and Net Assets / Fund Balance$372,756$499,902▲ $127,146

Asset Categories

AssetBook ValueDepreciationBasis
Closely Held Equity Interests$94,117--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Nicola ArmacostManaging DirectorFT$174,900$174,900

Board Members and Trustees

NameTitle
Nancy BarryChair
Ron KastnerTrustee
Bhakti MirchandaniTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$864,075
Program Service Revenue
$669,709
Investment Income
$0
Other Revenue
$0
All Other Contributions
$16,920
Change in Net Assets
$-20,490
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$983,422
Salaries, Compensation, and Employee Benefits$320,852
Grants and Similar Amounts Paid$250,000
Total Fundraising Expense$26,198
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$492,575$116,987$6,157$615,719
Foreign Grants$250,000--$250,000
Travel$177,961--$177,961
Current Officers, Directors, Trustees, and Key Employees$157,410$8,745$8,745$174,900
Other Salaries and Wages$85,788$4,766$4,766$95,320
Fees for Services Accounting-$89,483-$89,483
Conferences and Meetings$32,401--$32,401
Advertising$31,410--$31,410
Other Employee Benefits$28,094$1,561$1,561$31,216
Payroll Taxes$17,474$971$971$19,416
Information Technology$14,933-$2,635$17,568
Occupancy$7,314$2,090$1,045$10,449
Office Expenses$4,372$820$273$5,465
Insurance-$952-$952
Other Expenses$137$26$9$172
Total Functional Expenses$1,301,566$226,510$26,198$1,554,274
International Activity

International Summary

Spending
$250,000

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
HaitiGrants to RecipientsEnergy Solutions00$250,000
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
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 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, Line 11B: Form 990 Review Process

The managing director and board members review the form 990 prior to filing.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

In connection with any actual or possible conflict of interest, an interested person must disclose the existence and nature of his or her financial interest to the board of directors. After disclosure, the interested person shall leave the board meeting while the transaction is discussed and voted upon. Each interested person shall annually sign a statement that affirms that such person has received a copy of the conflict of interest policy., has read and inderstands the policy, has agreed to comply with the policy, and understands that the organization is a charitable organization and that in order to maintain its federal tax exemption it must engage primarily in activities that accomplish one or more of its tax-exempt purposes.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

Compensation process for top official compensation for the managing director is determined by independent board members based on reviews of comparable compensation data. The managing director determines the salaries of staff and consultants.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

The organization's governing documents are made available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Arc Finance Ltd
EIN
26-2522724
Phone
9144783851
Address
70 OVERLOOK ROAD, HASTINGS ON HUDSON, NY 10706

Signing Officer

Name
Nicola Armacost
Title
Managing Director
Signed
2017-11-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nicola Armacost
Formed
2008
Legal Domicile
Ny
Voting Board Members
4
Independent Board Members
3
Employees
2

Preparer

Firm
Cullari Carrico LLC
Address
55 Lane Road Ste 300, Fairfield, NJ 07004
Preparer
John Carrico Jr
Phone
9734063955
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IRS990/SavingsAndTempCashInvstGrp/BOYAmt039912
IRS990/SavingsAndTempCashInvstGrp/EOYAmt039912
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0864075
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt01007142
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt01333171
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt01498008
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0938224
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt05640620
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt00
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0669709
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0859263
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0145011
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt012230
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0238057
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt01924270
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/TotalAmt00
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct01.00000
IRS990ScheduleA/PublicSupportPY509Pct01.00000
IRS990ScheduleA/PublicSupportTotal509Amt07564890
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt01533784
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt01866405
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt01478182
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt01510238
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt01176281
IRS990ScheduleA/Total509Grp/TotalAmt07564890
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt01533784
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt01866405
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt01478182
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt01510238
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt01176281
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt07564890
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/CloselyHeldEquityInterestsGrp/BookValueAmt094117
IRS990ScheduleD/CloselyHeldEquityInterestsGrp/MethodValuationCd0F
IRS990ScheduleD/TotalBookValueSecuritiesAmt094117
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/EmployeeCnt00
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/OfficesCnt00
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt0250000
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt0HAITI
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt0ENERGY SOLUTIONS
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt0GRANTS TO RECIPIENTS
IRS990ScheduleF/BoycottCountriesInd0false
IRS990ScheduleF/ForeignCorpOwnershipInd0false
IRS990ScheduleF/ForeignPartnershipInd0false
IRS990ScheduleF/GrantRecordsMaintainedInd0true
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/CashGrantAmt0250000
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/MannerOfCashDisbursementTxt0EFT
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt0SUPPORT NEEDY
IRS990ScheduleF/InterestInForeignTrustInd0false
IRS990ScheduleF/PassiveForeignInvestmestCoInd0false
IRS990ScheduleF/SubtotalSpentAmt0250000
IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION RECEIVES MONTHLY, QUARTERLY, AND ANNUAL REPORTS FROM GRANTEES AND THE TEAM OF CONSULTANTS CONDUCTS VISITS TO THE INSTITUTIONS AND TO ITS CLIENTS TO MAKE SURE THE PROJECT IS PROGRESSING AS PLANNED.
IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt1ACCRUAL METHOD WAS USED TO ACCOUNT FOR THE EXPENDITURES IN PART I, LINE 3, COLUMN (F).
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc0Part I, Line 2 - Grantmakers Explanation For Monitoring Use of Funds Outside US
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc1Part I, Line 3f - Method of Accounting
IRS990ScheduleF/TotalOtherOrgCnt01
IRS990ScheduleF/TotalSpentAmt0250000
IRS990ScheduleF/TransferToForeignCorpInd0true
IRS990ScheduleJ/AnyNonFixedPaymentsInd0false
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/Form990OfOtherOrganizationsInd0X
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990ScheduleJ/RebuttablePresumptionProcInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0174900
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0NICOLA ARMACOST
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0MANAGING DIR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0174900
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0THE MANAGING DIRECTOR'S SALARY AMOUNT INCLUDES REIMBURSEMENTS FOR MEDICAL BENEFITS.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0Part III, Additional Information
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE MANAGING DIRECTOR AND BOARD MEMBERS REVIEW THE FORM 990 PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE AND NATURE OF HIS OR HER FINANCIAL INTEREST TO THE BOARD OF DIRECTORS. AFTER DISCLOSURE, THE INTERESTED PERSON SHALL LEAVE THE BOARD MEETING WHILE THE TRANSACTION IS DISCUSSED AND VOTED UPON. EACH INTERESTED PERSON SHALL ANNUALLY SIGN A STATEMENT THAT AFFIRMS THAT SUCH PERSON HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY., HAS READ AND INDERSTANDS THE POLICY, HAS AGREED TO COMPLY WITH THE POLICY, AND UNDERSTANDS THAT THE ORGANIZATION IS A CHARITABLE ORGANIZATION AND THAT IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITIES THAT ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COMPENSATION PROCESS FOR TOP OFFICIAL COMPENSATION FOR THE MANAGING DIRECTOR IS DETERMINED BY INDEPENDENT BOARD MEMBERS BASED ON REVIEWS OF COMPARABLE COMPENSATION DATA. THE MANAGING DIRECTOR DETERMINES THE SALARIES OF STAFF AND CONSULTANTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION'S GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0372756
IRS990/TotalAssetsEOYAmt0499902
IRS990/TotalAssetsGrp/BOYAmt0372756

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