Civic Intelligence

Foundation for Advanced Cardiovascular and Education Train

990 • Fiscal year 2018 • EIN 26-3122805

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 15, 2019

Organization ProfileTHEFACET.ORG
4708 Alliance Blvd Pavilion I 500Plano, TX 75093

(972) 832-7752

Siviq Scores

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

Liabilities / Assets

27th percentile

0.00x

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

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

27th percentile

0.00x

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

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Net Margin

92nd percentile

50%

Higher net margin than 92% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

52nd percentile

$8,333

Higher top officer pay than 52% of similar nonprofits.

Top officer pay equals 0.9% of source-year revenue.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Asset Growth

95th percentile

124%

Faster asset growth than 95% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

13th percentile

-24%

Faster revenue growth than 13% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets27th percentile

Assets

Up

$802,149

Up $443,810 (+124%) from 2017

Net Assets

Up

$802,149

Up $443,810 (+124%) from 2017

Liabilities

Flat

$0

Flat from 2017

Revenue And Expenses
Liabilities / Revenue27th percentileNet Margin92nd percentile

Revenue

Down

$883,705

Down $272,749 (-24%) from 2017

Expenses

Down

$439,895

Down $398,725 (-48%) from 2017

Net Income

Up

$443,810

Up $125,976 (+40%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth95th percentile

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

$1.0M$500K$0Assets 2016: $40,505Net Assets 2016: $40,5052016Assets 2017: $358,339Liabilities 2017: $0Net Assets 2017: $358,3392017Assets 2018: $802,149Liabilities 2018: $0Net Assets 2018: $802,1492018Assets 2019: $629,535Liabilities 2019: $0Net Assets 2019: $629,5352019Assets 2020: $529,300Liabilities 2020: $0Net Assets 2020: $529,3002020Assets 2021: $780,205Liabilities 2021: $0Net Assets 2021: $780,2052021Assets 2022: $883,002Liabilities 2022: $0Net Assets 2022: $883,0022022Assets 2023: $940,611Liabilities 2023: $25,930Net Assets 2023: $914,6812023Assets 2024: $547,744Liabilities 2024: $21,881Net Assets 2024: $525,8632024

Highlighted filing

2018

Assets$802,149
Liabilities$0
Net Assets$802,149
Open 2018 Filing

Operations Trend

Revenue Growth13th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2016: $85,950Expenses 2016: $45,445Net Income 2016: $40,5052016Revenue 2017: $1,156,454Expenses 2017: $838,620Net Income 2017: $317,8342017Revenue 2018: $883,705Expenses 2018: $439,895Net Income 2018: $443,8102018Revenue 2019: $943,544Expenses 2019: $1,116,158Net Income 2019: -$172,6142019Revenue 2020: $461,553Expenses 2020: $561,788Net Income 2020: -$100,2352020Revenue 2021: $753,901Expenses 2021: $502,996Net Income 2021: $250,9052021Revenue 2022: $868,230Expenses 2022: $765,433Net Income 2022: $102,7972022Revenue 2023: $1,363,207Expenses 2023: $1,331,528Net Income 2023: $31,6792023Revenue 2024: $2,040,783Expenses 2024: $2,429,601Net Income 2024: -$388,8182024

Highlighted filing

2018

Revenue$883,705
Expenses$439,895
Net Income$443,810
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 15, 2019
Return Version
2018v3.1
Gross Receipts
$883,705
Mission and Program Overview

Mission

The foundation's tax exempt purpose is to promote and facilitate physician access to quality continuing medical education through facet's accredited cme program. The activities will update physicians on new diagnosis and treatment modalities, improve clinical skills, and improve patient outcomes.

The foundation's tax exempt purpose is to conduct medical educational meetings for physicians, fellows and allied health professionals in the field of cardiovascular medicine.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$358,339$747,149▲ $388,810
Total Assets$358,339$802,149▲ $443,810
Other Assets Total-$55,000-
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$358,339$802,149▲ $443,810
Total Net Assets Fund Balance$358,339$802,149▲ $443,810
Total Liabilities and Net Assets / Fund Balance$358,339$802,149▲ $443,810

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$55,000--
Compensation and Service Providers
Top Officer Pay52nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Kathryn HobbsDirectorPT$8,333$8,333

Board Members and Trustees

NameTitle
David L Brown MdDirector
Michael J Mack MdDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$819,494
Program Service Revenue
$54,070
Investment Income
$0
Other Revenue
$10,141
All Other Contributions
$819,494
Change in Net Assets
$443,810
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$431,562
Salaries, Compensation, and Employee Benefits$8,333
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Conferences and Meetings$83,149--$83,149
Travel$62,416--$62,416
Advertising$37,493$6,882-$44,375
Occupancy$44,299--$44,299
All Other Expenses$9,806$15,263-$25,069
Fees for Services Other$15,150--$15,150
Current Officers, Directors, Trustees, and Key Employees-$8,333-$8,333
Office Expenses$778$6,078-$6,856
Other Expenses$40,584$6,221-$6,221
Fees for Services Legal$359$500-$859
Insurance-$812-$812
Total Functional Expenses$294,034$145,861$0$439,895
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$9,341
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
Backup withholding compliance
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
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, Page 6, Part VI, Line 11B

“The form 990 was reviewed by only one member of the governing body prior to filing.”

Form 990, Page 6, Part VI, Line 15A

“Executive director compensation was determined by independent directors based on their informal determination of appropriate compensation level.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Foundation for Advanced Cardiovascu
EIN
26-3122805
Phone
9728327752
Address
4708 ALLIANCE BLVD PAVILION I 500, PLANO, TX 75093

Signing Officer

Name
Kathryn Hobbs
Title
Director
Phone
9728327752
Signed
2019-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kathryn Hobbs
Formed
2015
Legal Domicile
TX
Voting Board Members
3
Independent Board Members
2
Employees
0

Preparer

Firm
Burds Reed & Mercer Pc
Address
4131 N CENTRAL EXPRESSWAY STE 700, DALLAS, TX 75204
Preparer
Robert F Burds
Phone
2142192600
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4A

“The foundation was organized to conduct medical educational meetings for physicians, fellows and allied health professional in the field of cardiovascular medicine. The foundation's signature medical education event for 2018 was the dallas leipzig conference. Dallas leipzig conference - an educational event held december 13-15, 2018. The target audience are cardiologists, cardiovascular surgeons, exhibiors, allied health/nurses, rad techs, physician assistants, medical admnistrative personnel and other industry professionals. The conference presented the latest in heart team-best practices; video presentations of live surgeries; latest imaging techniques; heart disease management; case reviews; innovative devices and therapies and other cardiovascular related topics.”

Form 990, Page 2, Part III, Line 4B

“The foundation provided accreditation for and supported additional continuing medical education programs in 2018 as follows: liver diseases conference - 2018 cme regarding liver disease management & transplants williamsburg conference on heart disease - 2018 cme regarding coronary artery disease, its treatment, and its prevention. Enahnced recovery after surgery - 2018 cme for improved functional recovery and outcomes after surgery. Greenville complex care program - 2018 cme regarding treatment trends and improved outcomes gynecology oncology symposium - 2018 cme regarding education for physicians and healthcare professionals and for gynecologic cancer survivors and caretakers.”

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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION WAS ORGANIZED TO CONDUCT MEDICAL EDUCATIONAL MEETINGS FOR PHYSICIANS, FELLOWS AND ALLIED HEALTH PROFESSIONAL IN THE FIELD OF CARDIOVASCULAR MEDICINE. THE FOUNDATION'S SIGNATURE MEDICAL EDUCATION EVENT FOR 2018 WAS THE DALLAS LEIPZIG CONFERENCE. DALLAS LEIPZIG CONFERENCE - AN EDUCATIONAL EVENT HELD DECEMBER 13-15, 2018. THE TARGET AUDIENCE ARE CARDIOLOGISTS, CARDIOVASCULAR SURGEONS, EXHIBIORS, ALLIED HEALTH/NURSES, RAD TECHS, PHYSICIAN ASSISTANTS, MEDICAL ADMNISTRATIVE PERSONNEL AND OTHER INDUSTRY PROFESSIONALS. THE CONFERENCE PRESENTED THE LATEST IN HEART TEAM-BEST PRACTICES; VIDEO PRESENTATIONS OF LIVE SURGERIES; LATEST IMAGING TECHNIQUES; HEART DISEASE MANAGEMENT; CASE REVIEWS; INNOVATIVE DEVICES AND THERAPIES AND OTHER CARDIOVASCULAR RELATED TOPICS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FOUNDATION PROVIDED ACCREDITATION FOR AND SUPPORTED ADDITIONAL CONTINUING MEDICAL EDUCATION PROGRAMS IN 2018 AS FOLLOWS: LIVER DISEASES CONFERENCE - 2018 CME REGARDING LIVER DISEASE MANAGEMENT & TRANSPLANTS WILLIAMSBURG CONFERENCE ON HEART DISEASE - 2018 CME REGARDING CORONARY ARTERY DISEASE, ITS TREATMENT, AND ITS PREVENTION. ENAHNCED RECOVERY AFTER SURGERY - 2018 CME FOR IMPROVED FUNCTIONAL RECOVERY AND OUTCOMES AFTER SURGERY. GREENVILLE COMPLEX CARE PROGRAM - 2018 CME REGARDING TREATMENT TRENDS AND IMPROVED OUTCOMES GYNECOLOGY ONCOLOGY SYMPOSIUM - 2018 CME REGARDING EDUCATION FOR PHYSICIANS AND HEALTHCARE PROFESSIONALS AND FOR GYNECOLOGIC CANCER SURVIVORS AND CARETAKERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORM 990 WAS REVIEWED BY ONLY ONE MEMBER OF THE GOVERNING BODY PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3EXECUTIVE DIRECTOR COMPENSATION WAS DETERMINED BY INDEPENDENT DIRECTORS BASED ON THEIR INFORMAL DETERMINATION OF APPROPRIATE COMPENSATION LEVEL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4NO DOCUMENTS AVAILABLE TO THE PUBLIC
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Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$802,149
Liabilities
$0
Net assets
$802,149
Revenue
$883,705
Expenses
$439,895
Net income
$443,810
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.55$0.02$0.53$2.04$2.43$0.39
2023Detailed filing. Detailed filing data is available for this year.$0.94$0.03$0.91$1.36$1.33$0.03
2022Detailed filing. Detailed filing data is available for this year.$0.88$0.00$0.88$0.87$0.77$0.10
2021Detailed filing. Detailed filing data is available for this year.$0.78$0.00$0.78$0.75$0.50$0.25
2020Detailed filing. Detailed filing data is available for this year.$0.53$0.00$0.53$0.46$0.56$0.10
2019Detailed filing. Detailed filing data is available for this year.$0.63$0.00$0.63$0.94$1.12$0.17
2018Detailed filing. Detailed filing data is available for this year.$0.80$0.00$0.80$0.88$0.44$0.44
2017Detailed filing. Detailed filing data is available for this year.$0.36$0.00$0.36$1.16$0.84$0.32
2016Detailed filing. Detailed filing data is available for this year.$0.04$0.04$0.09$0.05$0.04