Civic Intelligence

Foundation for Advanced Cardiovascular and Education Train

990 • Fiscal year 2022 • EIN 26-3122805

Jan 01, 2022 to Dec 31, 2022 • Filed on Apr 28, 2023

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

31st percentile

0.00x

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

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

31st percentile

0.00x

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

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Net Margin

59th percentile

12%

Higher net margin than 59% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

95th percentile

$162,940

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 18.8% of source-year revenue.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Asset Growth

68th percentile

13%

Faster asset growth than 68% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Revenue Growth

58th percentile

15%

Faster revenue growth than 58% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets31st percentile

Assets

Up

$883,002

Up $102,797 (+13%) from 2021

Net Assets

Up

$883,002

Up $102,797 (+13%) from 2021

Liabilities

Flat

$0

Flat from 2021

Revenue And Expenses
Liabilities / Revenue31st percentileNet Margin59th percentile

Revenue

Up

$868,230

Up $114,329 (+15%) from 2021

Expenses

Up

$765,433

Up $262,437 (+52%) from 2021

Net Income

Down

$102,797

Down $148,108 (-59%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth68th 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

2022

Assets$883,002
Liabilities$0
Net Assets$883,002
Open 2022 Filing

Operations Trend

Revenue Growth58th 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

2022

Revenue$868,230
Expenses$765,433
Net Income$102,797
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Apr 28, 2023
Return Version
2022v5.0
Gross Receipts
$868,230
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$735,328$797,881▲ $62,553
Prepaid Expenses and Deferred Charges$31,185$66,722▲ $35,537
Land, Buildings, and Equipment, Net$13,692$18,399▲ $4,707
Total Assets$780,205$883,002▲ $102,797
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$780,205$883,002▲ $102,797
Total Net Assets Fund Balance$780,205$883,002▲ $102,797
Total Liabilities and Net Assets / Fund Balance$780,205$883,002▲ $102,797

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$18,399$39,357$57,756
Compensation and Service Providers
Top Officer Pay95th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Kathryn HobbsDirectorPT$162,940$162,940

Board Members and Trustees

NameTitle
David L Brown MdDirector
Michael J MackDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$768,089
Program Service Revenue
$100,141
Investment Income
$0
Other Revenue
$0
All Other Contributions
$768,089
Change in Net Assets
$102,797
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$602,493
Salaries, Compensation, and Employee Benefits$162,940
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees-$162,940-$162,940
Information Technology$117,378--$117,378
Occupancy$116,350--$116,350
Fees for Services Management-$58,487-$58,487
Travel$52,370--$52,370
Conferences and Meetings$48,722--$48,722
Office Expenses-$19,690-$19,690
Advertising$16,560$2,922-$19,482
Depreciation Depletion-$15,294-$15,294
Other Expenses$19,174$13,083-$13,083
Fees for Services Accounting-$11,973-$11,973
Insurance-$1,080-$1,080
Fees for Services Other$775--$775
Fees for Services Legal-$522-$522
All Other Expenses-$225-$225
Total Functional Expenses$371,329$394,104$0$765,433
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
2023-04-28
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
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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/ExplanationTxt1COMPENSATION PROCESS FOR TOP OFFICIAL - EXECUTIVE DIRECTOR COMPENSATION WAS DETERMINED BY INDEPENDENT DIRECTORS BASED ON THEIR INFORMAL DETERMINATION OF APPROPRIATE COMPENSATION LEVEL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS DISCLOSURE EXPLANATION - NO DOCUMENTS AVAILABLE TO THE PUBLIC
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
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ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$883,002
Liabilities
$0
Net assets
$883,002
Revenue
$868,230
Expenses
$765,433
Net income
$102,797
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