Civic Intelligence

Foundation for Advanced Cardiovascular and Education Train

990 • Fiscal year 2021 • EIN 26-3122805

Jan 01, 2021 to Dec 31, 2021 • Filed on Aug 01, 2022

Organization ProfileTHEFACET.ORG
4708 Alliance Blvd Pav 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

29th percentile

0.00x

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

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

29th percentile

0.00x

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

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Net Margin

76th percentile

33%

Higher net margin than 76% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

93rd percentile

$135,000

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 17.9% of source-year revenue.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Asset Growth

82nd percentile

47%

Faster asset growth than 82% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Revenue Growth

79th percentile

63%

Faster revenue growth than 79% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets29th percentile

Assets

Up

$780,205

Up $250,905 (+47%) from 2020

Net Assets

Up

$780,205

Up $250,905 (+47%) from 2020

Liabilities

Flat

$0

Flat from 2020

Revenue And Expenses
Liabilities / Revenue29th percentileNet Margin76th percentile

Revenue

Up

$753,901

Up $292,348 (+63%) from 2020

Expenses

Down

$502,996

Down $58,792 (-10%) from 2020

Net Income

Up

$250,905

Up $351,140 (+350%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth82nd 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

2021

Assets$780,205
Liabilities$0
Net Assets$780,205
Open 2021 Filing

Operations Trend

Revenue Growth79th 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

2021

Revenue$753,901
Expenses$502,996
Net Income$250,905
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Aug 1, 2022
Return Version
2021v4.2
Gross Receipts
$753,901
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$505,796$735,328▲ $229,532
Prepaid Expenses and Deferred Charges$2,769$31,185▲ $28,416
Land, Buildings, and Equipment, Net$20,735$13,692▼ $7,043
Total Assets$529,300$780,205▲ $250,905
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$529,300$780,205▲ $250,905
Total Net Assets Fund Balance$529,300$780,205▲ $250,905
Total Liabilities and Net Assets / Fund Balance$529,300$780,205▲ $250,905

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$13,692$24,064$37,756
Compensation and Service Providers
Top Officer Pay93rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Kathryn HobbsDirectorPT$135,000$135,000

Board Members and Trustees

NameTitle
David L Brown MdDirector
Michael J MackDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$729,439
Program Service Revenue
$24,462
Investment Income
$0
Other Revenue
$0
All Other Contributions
$729,439
Change in Net Assets
$250,905
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$502,996
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management-$184,392-$184,392
Conferences and Meetings$41,840--$41,840
Occupancy$27,250--$27,250
Office Expenses-$17,236-$17,236
Information Technology$15,767--$15,767
Advertising$14,206--$14,206
Depreciation Depletion-$11,683-$11,683
Fees for Services Accounting-$7,418-$7,418
Other Expenses$120,800$6,310-$6,310
Travel$6,063--$6,063
Fees for Services Other$1,425--$1,425
Insurance-$865-$865
All Other Expenses-$611-$611
Fees for Services Legal-$150-$150
Total Functional Expenses$227,351$275,645$0$502,996
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 500, PLANO, TX 75093

Signing Officer

Name
Kathryn Hobbs
Title
Director
Phone
9727327752
Signed
2022-08-01
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 Appendix332 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/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 15A
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
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IRS990/TotalAssetsGrp/BOYAmt0529300
IRS990/TotalAssetsGrp/EOYAmt0780205
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0729439
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0275645
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0227351
IRS990/TotalFunctionalExpensesGrp/TotalAmt0502996
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
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IRS990/TotalOtherCompensationAmt00
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IRS990/TotalProgramServiceRevenueAmt024462
IRS990/TotalReportableCompFromOrgAmt0135000
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt024462
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0753901
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0529300
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IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt06063
IRS990/TravelGrp/TotalAmt06063
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
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IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt02
IRS990/WebsiteAddressTxt0HTTPS://THEFACET.ORG
IRS990/WhistleblowerPolicyInd00
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
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ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0KATHRYN HOBBS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DIRECTOR
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ReturnHeader/BusinessOfficerGrp/SignatureDt02022-08-01
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0PLANO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
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ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LAUREEN NOONAN
ReturnHeader/ReturnTs02022-08-01T14:03:41-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0KATHRYN
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ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$780,205
Liabilities
$0
Net assets
$780,205
Revenue
$753,901
Expenses
$502,996
Net income
$250,905
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