Civic Intelligence

Foundation for Advanced Cardiovascular and Education Train

990 • Fiscal year 2019 • EIN 26-3122805

Jan 01, 2019 to Dec 31, 2019 • Filed on Aug 11, 2020

Organization ProfileTHEFACET.ORG
4708 Alliance Blvd Pav I No 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.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

28th percentile

0.00x

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

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Net Margin

14th percentile

-18%

Higher net margin than 14% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

91st percentile

$117,854

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 12.5% of source-year revenue.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Asset Growth

9th percentile

-22%

Faster asset growth than 9% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Revenue Growth

56th percentile

6.8%

Faster revenue growth than 56% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets27th percentile

Assets

Down

$629,535

Down $172,614 (-22%) from 2018

Net Assets

Down

$629,535

Down $172,614 (-22%) from 2018

Liabilities

Flat

$0

Flat from 2018

Revenue And Expenses
Liabilities / Revenue28th percentileNet Margin14th percentile

Revenue

Up

$943,544

Up $59,839 (+6.8%) from 2018

Expenses

Up

$1,116,158

Up $676,263 (+154%) from 2018

Net Income

Down

-$172,614

Down $616,424 (-139%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth9th 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

2019

Assets$629,535
Liabilities$0
Net Assets$629,535
Open 2019 Filing

Operations Trend

Revenue Growth56th 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

2019

Revenue$943,544
Expenses$1,116,158
Net Income-$172,614
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Aug 11, 2020
Return Version
2019v5.1
Gross Receipts
$943,544
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$747,149$599,932▼ $147,217
Land, Buildings, and Equipment, Net$0$26,103▲ $26,103
Total Assets$802,149$629,535▼ $172,614
Other Assets Total$55,000$3,500▼ $51,500
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$802,149$629,535▼ $172,614
Total Net Assets Fund Balance$802,149$629,535▼ $172,614
Total Liabilities and Net Assets / Fund Balance$802,149$629,535▼ $172,614

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$26,103$2,373$28,476
Compensation and Service Providers
Top Officer Pay91st percentile

Employees

NameTitleFull / Part TimeBaseTotal
Kathryn HobbsDirectorPT$117,854$117,854

Board Members and Trustees

NameTitle
David L Brown MdDirector
Michael J MackDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$797,736
Program Service Revenue
$145,808
Investment Income
$0
Other Revenue
$0
All Other Contributions
$797,736
Change in Net Assets
$-172,614
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$998,304
Salaries, Compensation, and Employee Benefits$117,854
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Information Technology$316,178--$316,178
Conferences and Meetings$310,885--$310,885
Current Officers, Directors, Trustees, and Key Employees-$117,854-$117,854
Occupancy$94,372--$94,372
Travel$68,431--$68,431
Advertising$40,638$7,171-$47,809
Fees for Services Management-$41,391-$41,391
Office Expenses-$25,836-$25,836
Fees for Services Accounting-$9,008-$9,008
All Other Expenses-$5,504-$5,504
Other Expenses$44,513$4,590-$4,590
Depreciation Depletion-$2,373-$2,373
Fees for Services Other$1,105--$1,105
Insurance-$1,055-$1,055
Fees for Services Legal-$820-$820
Total Functional Expenses$876,122$240,036$0$1,116,158
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
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
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 B, Line 11B

“Organization's process to review form 990 - the form 990 was reviewed by only one member of the governing body prior to filing.”

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

“Compensation process for top official - executive director compensation was determined by independent directors based on their informal determination of appropriate compensation level.”

Form 990, Part VI, Section C, Line 19

“Governing documents disclosure explanation - no documents available to the public”

Filing and Contact Details

Filer

Filer Name
Foundation for Advanced Cardiovascular
EIN
26-3122805
Phone
9728327752
Address
4708 ALLIANCE BLVD PAV I NO 500, PLANO, TX 75093

Signing Officer

Name
Kathryn Hobbs
Title
Director
Phone
9727327752
Signed
2020-08-11
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
Volunteers
0

Preparer

Firm
Baker Tilly US Llp
Address
2500 DALLAS PARKWAY SUITE 300, PLANO, TX 75093
Preparer
Laureen Noonan
Phone
9727480300
Raw XML Appendix333 raw XML fields

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/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0802149
IRS990/TotalAssetsEOYAmt0629535
IRS990/TotalAssetsGrp/BOYAmt0802149
IRS990/TotalAssetsGrp/EOYAmt0629535
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0797736
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0240036
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0876122
IRS990/TotalFunctionalExpensesGrp/TotalAmt01116158
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0802149
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0629535
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0876122
IRS990/TotalProgramServiceRevenueAmt0145808
IRS990/TotalReportableCompFromOrgAmt0117854
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0145808
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0943544
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0802149
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0629535
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt068431
IRS990/TravelGrp/TotalAmt068431
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
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IRS990/VotingMembersGoverningBodyCnt03
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ReturnHeader/BusinessOfficerGrp/PersonNm0KATHRYN HOBBS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DIRECTOR
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ReturnHeader/BusinessOfficerGrp/SignatureDt02020-08-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FOUNDATION FOR ADVANCED CARDIOVASCULAR
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ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt047.187.212.88
ReturnHeader/FilingSecurityInformation/IPDt02020-08-11
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm013:51:05
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0390859910
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BAKER TILLY US LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02500 DALLAS PARKWAY SUITE 300
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0PLANO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd075093
ReturnHeader/PreparerPersonGrp/PhoneNum09727480300
ReturnHeader/PreparerPersonGrp/PreparationDt02020-08-07
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LAUREEN NOONAN
ReturnHeader/ReturnTs02020-08-11T13:54:54-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$629,535
Liabilities
$0
Net assets
$629,535
Revenue
$943,544
Expenses
$1,116,158
Net income
-$172,614
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