Civic Intelligence

Annika Foundation

990 • Fiscal year 2022 • EIN 26-3100887

Jan 01, 2022 to Dec 31, 2022 • Filed on Oct 11, 2023

1257 Worcester Rd254Framingham, MA 01701

(407) 405-5355

Siviq Scores

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

Liabilities / Assets

53rd percentile

0.08x

Higher debt load relative to assets than 53% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

59th percentile

0.14x

Higher debt load relative to revenue than 59% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

45th percentile

4.5%

Higher net margin than 45% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

71st percentile

$104,651

Higher top officer pay than 71% of similar nonprofits.

Top officer pay equals 8.8% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

21st percentile

-9.1%

Faster asset growth than 21% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

41st percentile

0.4%

Faster revenue growth than 41% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Assets

Down

$2,102,445

Down $210,705 (-9.1%) from 2021

Net Assets

Down

$1,936,036

Down $199,289 (-9.3%) from 2021

Liabilities

Down

$166,409

Down $11,416 (-6.4%) from 2021

Revenue

Up

$1,192,905

Up $5,257 (+0.4%) from 2021

Expenses

Up

$1,139,277

Up $72,922 (+6.8%) from 2021

Net Income

Down

$53,628

Down $67,665 (-56%) from 2021

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: $606,324Liabilities 2010: $0Net Assets 2010: $606,3242010Assets 2011: $414,414Liabilities 2011: $72Net Assets 2011: $414,3422011Assets 2012: $411,387Liabilities 2012: $0Net Assets 2012: $411,3872012Assets 2013: $709,371Liabilities 2013: $260Net Assets 2013: $709,1112013Assets 2014: $743,281Liabilities 2014: $845Net Assets 2014: $742,4362014Assets 2015: $993,350Liabilities 2015: $18Net Assets 2015: $993,3322015Assets 2016: $880,475Liabilities 2016: $474Net Assets 2016: $880,0012016Assets 2017: $1,360,230Liabilities 2017: $26,122Net Assets 2017: $1,334,1082017Assets 2018: $1,445,520Liabilities 2018: $180,506Net Assets 2018: $1,265,0142018Assets 2019: $1,605,021Liabilities 2019: $69,646Net Assets 2019: $1,535,3752019Assets 2020: $1,971,144Liabilities 2020: $102,180Net Assets 2020: $1,868,9642020Assets 2021: $2,313,150Liabilities 2021: $177,825Net Assets 2021: $2,135,3252021Assets 2022: $2,102,445Liabilities 2022: $166,409Net Assets 2022: $1,936,0362022Assets 2023: $2,497,423Liabilities 2023: $125,845Net Assets 2023: $2,371,5782023Assets 2024: $3,611,653Liabilities 2024: $296,858Net Assets 2024: $3,314,7952024

Highlighted filing

2022

Assets$2,102,445
Liabilities$166,409
Net Assets$1,936,036

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $642,5752010Expenses 2011: $613,0582011Expenses 2012: $394,7662012Revenue 2013: $596,739Expenses 2013: $299,015Net Income 2013: $297,7242013Revenue 2014: $518,193Expenses 2014: $484,868Net Income 2014: $33,3252014Revenue 2015: $702,659Expenses 2015: $451,763Net Income 2015: $250,8962015Revenue 2016: $636,146Expenses 2016: $749,477Net Income 2016: -$113,3312016Revenue 2017: $1,149,565Expenses 2017: $695,458Net Income 2017: $454,1072017Revenue 2018: $1,362,832Expenses 2018: $1,113,234Net Income 2018: $249,5982018Revenue 2019: $865,016Expenses 2019: $783,496Net Income 2019: $81,5202019Revenue 2020: $792,476Expenses 2020: $591,975Net Income 2020: $200,5012020Revenue 2021: $1,187,648Expenses 2021: $1,066,355Net Income 2021: $121,2932021Revenue 2022: $1,192,905Expenses 2022: $1,139,277Net Income 2022: $53,6282022Revenue 2023: $1,878,877Expenses 2023: $1,667,417Net Income 2023: $211,4602023Revenue 2024: $2,615,745Expenses 2024: $2,006,478Net Income 2024: $609,2672024

Highlighted filing

2022

Revenue$1,192,905
Expenses$1,139,277
Net Income$53,628
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Oct 11, 2023
Return Version
2022v5.0
Gross Receipts
$1,955,322
Mission and Program Overview

Mission

The annika foundation provides opportunities in women's golf at the junior, collegiate and professional levels while teaching young people the importance of living a healthy, active lifestyle through fitness and nutrition.

Develops and empowers the next generation of women around the world through the game of golf.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,680,577$1,673,847▼ $6,730
Accounts Receivable$477,182$262,291▼ $214,891
Savings and Temporary Cash Investments$115,170$153,230▲ $38,060
Land, Buildings, and Equipment, Net$8,869$6,841▼ $2,028
Prepaid Expenses and Deferred Charges$31,352$6,236▼ $25,116
Cash and Non-Interest-Bearing Accounts$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$2,313,150$2,102,445▼ $210,705
Other Assets Total$0$0→ $0
Liabilities
Deferred Revenue$125,000$109,000▼ $16,000
Accounts Payable and Accrued Expenses$52,825$57,409▲ $4,584
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$177,825$166,409▼ $11,416
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,985,325$1,936,036▼ $49,289
Net Assets With Donor Restrictions$150,000$0▼ $150,000
Total Net Assets Fund Balance$2,135,325$1,936,036▼ $199,289
Total Liabilities and Net Assets / Fund Balance$2,313,150$2,102,445▼ $210,705

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$6,841$5,877$12,718
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Casey CemanChief Operating OfficerFT$94,417$10,234$104,651

Board Members and Trustees

NameTitle
Anne BroholmDirector
Annika SorenstamDirector
Barry HydeDirector
Calvin Butler JrDirector
Charles MechemDirector
Craig AnnisDirector
Daniel DuttonDirector
David BockornyDirector
Jay BrennanDirector
Jay EpstienDirector
Jerry M McgeeDirector
Jim NugentDirector
Roberta BowmanDirector
Suzy WhaleyDirector
Tom RidgeDirector
Angela Iacone-radaelliTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$856,074
Program Service Revenue
$362,650
Investment Income
$-25,819
Other Revenue
$0
All Other Contributions
$856,074
Change in Net Assets
$53,628

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,192,905
Revenue Not Reported on Form 990
$-252,917
Total Revenue per Audited Statements
$939,988
Total Revenue per Form 990
$1,192,905
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$928,368
Salaries, Compensation, and Employee Benefits$187,909
Total Fundraising Expense$64,655
Grants and Similar Amounts Paid$23,000
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$670,255$6,082$15,580$691,917
Current Officers, Directors, Trustees, and Key Employees$83,720$10,465$10,465$104,650
Fees for Services Other$21,169$73,886$500$95,555
Other Salaries and Wages$52,704$6,200$3,100$62,004
Fees for Services Accounting-$47,959-$47,959
Travel$40,863--$40,863
Advertising$800-$33,595$34,395
Grants to Domestic Orgs$23,000--$23,000
Payroll Taxes$9,810$1,197$959$11,966
Office Expenses$8,408$1,099-$9,507
Other Employee Benefits$5,795$682$332$6,809
Insurance$2,559$3,585-$6,144
Pension Plan Contributions$2,108$248$124$2,480
Depreciation Depletion-$2,028-$2,028
Total Functional Expenses$921,191$153,431$64,655$1,139,277

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,139,277
Total Expenses per Audited Statements$1,139,277
Total Expenses per Form 990$1,139,277
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
American Junior Golf AssociationBraselton, GA501(c)(3)General Support$10,000
Fairways to Leadership IncOrlando, FL501(c)(3)General Support$10,000

International Summary

Offices
0
Employees
1
Spending
$438,113

International Compliance

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
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
South AmericaProgram ServicesSee Part V00$409,209
Europe (Including Iceland and Greenland)Program ServicesSee Part V01$28,904
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
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
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
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
Yes
Other officer compensation reviewed
Yes
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 2:

Directors JERRY MICHAEL MCGEE AND ANNIKA SORENSTAM have a family relationship.

FORM 990, PART VI, SECTION B, LINE 11B:

The 990 is forwarded to each board member prior to filing with the irs. If the board member has any questions or concerns, they are instructed to contact the treasurer. The tax preparer will finalize the return after questions are addressed and send it to the treasurer. Upon final review it will be signed and filed with the irs.

FORM 990, PART VI, SECTION B, LINE 12:

A director or officer shall disclose a conflict of interest (a) prior to voting on or otherwise discharging his duties with respect to any matter involving the conflict which comes before the board or any committee; (b) prior to entering into any contract or transaction involving the conflict; (c) as soon as possible after the director or officer learns of the conflict; and (d) on the annual conflict of interest disclosure form. The secretary of the corporation shall distribute annually to all directors and officers, a form soliciting the disclosure of all conflicts of interest, including specific information concerning the terms of any contract or transaction with the corporation for approval.

FORM 990, PART VI, SECTION B, LINE 15:

At the completion of each fiscal year, top officials of the annika foundation prepare a detailed review of the prior year's programming results and financial performance which is submitted to all board members for review and comment. Compensation adjustments, if any, are determined by a consensus and resolution of the board.

FORM 990, PART VI, SECTION C, LINE 19:

The organization makes its governing documents and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Annika Foundation
EIN
26-3100887
In Care Of
% ANGELA IACONE-RADAELLI
Phone
4074055355
Address
1257 WORCESTER RD254, FRAMINGHAM, MA 01701

Signing Officer

Name
Angela Iacone-Radaelli
Title
Treasurer
Phone
4074055355
Signed
2023-10-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Angela Iacone-Radaelli
Formed
2008
Legal Domicile
Fl
Voting Board Members
15
Independent Board Members
15
Employees
2
Volunteers
250

Preparer

Firm
Bdo USA
Address
ONE INTERNATIONAL PLACE, BOSTON, MA 02110
Preparer
Victoria Purcell
Phone
6174220700
Supplemental Narrative

Financial Statement Notes

SCHEDULE D, PART X, LINE 2:

The foundation accounts for uncertainty in income taxes in accordance with asc topic, income taxes. This standard clarifies the accounting for uncertainty in tax positions and prescribes a recognition threshold and measurement attribute for the financial statements regarding a tax position taken or expected to be taken in a tax return. The foundation has determined that there are no uncertain tax positions which qualify for either recognition or disclosure in the financial statements at december 31, 2022 and 2021. The foundation's information returns are subject to examination by federal and state jurisdictions.

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IRS990/Form990PartVIISectionAGrp/PersonNm12JIM NUGENT
IRS990/Form990PartVIISectionAGrp/PersonNm13TOM RIDGE
IRS990/Form990PartVIISectionAGrp/PersonNm14ANNIKA SORENSTAM
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IRS990/MissionDesc0The ANNIKA Foundation develops and empowers the next generation of women around the world through the game of golf. More specifically, we provide opportunities in women's golf at the junior, collegiate and professional levels while teaching young people the importance of personal development, including living a healthy, active lifestyle through fitness and nutrition.
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IRS990/PrincipalOfficerNm0Angela Iacone-Radaelli
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IRS990/ProgramServiceRevenueGrp/Desc0SPONSORSHIP AND PROGRAM FEES
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IRS990/ProgSrvcAccomActy2Grp/Desc0The ANNIKA Foundation annually conducts several "Share My Passion" grass roots clinics designed to introduce kids to the game.
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IRS990/ProgSrvcAccomActy3Grp/Desc0Since 2014, the Foundation has annually hosted the ANNIKA Intercollegiate presented by 3M, a women's college tournament featuring 12 top Division I schools. Moreover, with the support of the Haskins Foundation, the Foundation created the ANNIKA Award presented by Stifel, which is given annually to the best collegiate female golfer. In 2022, the ANNIKA Development Program was created to support recent college graduates pursue their dreams of playing professional golf.
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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.$3.61$0.30$3.31$2.62$2.01$0.61
2023Detailed filing. Detailed filing data is available for this year.$2.50$0.13$2.37$1.88$1.67$0.21
2022Detailed filing. Detailed filing data is available for this year.$2.10$0.17$1.94$1.19$1.14$0.05
2021Detailed filing. Detailed filing data is available for this year.$2.31$0.18$2.14$1.19$1.07$0.12
2020Detailed filing. Detailed filing data is available for this year.$1.97$0.10$1.87$0.79$0.59$0.20
2019Detailed filing. Detailed filing data is available for this year.$1.61$0.07$1.54$0.87$0.78$0.08
2018Detailed filing. Detailed filing data is available for this year.$1.45$0.18$1.27$1.36$1.11$0.25
2017Detailed filing. Detailed filing data is available for this year.$1.36$0.03$1.33$1.15$0.70$0.45
2016Detailed filing. Detailed filing data is available for this year.$0.88$0.00$0.88$0.64$0.75$0.11
2015Detailed filing. Detailed filing data is available for this year.$0.99$0.00$0.99$0.70$0.45$0.25
2014Detailed filing. Detailed filing data is available for this year.$0.74$0.00$0.74$0.52$0.48$0.03
2013Detailed filing. Detailed filing data is available for this year.$0.71$0.00$0.71$0.60$0.30$0.30
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.41$0.00$0.41$0.39
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.41$0.00$0.41$0.61
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.61$0.00$0.61$0.64