Civic Intelligence

Foundation for Advanced Cardiovascular and Education Train

990 • Fiscal year 2023 • EIN 26-3122805

Jan 01, 2023 to Dec 31, 2023 • Filed on Aug 05, 2024

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

40th percentile

0.03x

Higher debt load relative to assets than 40% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

31st percentile

0.02x

Higher debt load relative to revenue than 31% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

46th percentile

2.3%

Higher net margin than 46% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

81st percentile

$142,468

Higher top officer pay than 81% of similar nonprofits.

Top officer pay equals 10.5% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

55th percentile

6.5%

Faster asset growth than 55% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

85th percentile

57%

Faster revenue growth than 85% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets40th percentile

Assets

Up

$940,611

Up $57,609 (+6.5%) from 2022

Net Assets

Up

$914,681

Up $31,679 (+3.6%) from 2022

Liabilities

Up

$25,930

Up $25,930 from 2022

Revenue And Expenses
Liabilities / Revenue31st percentileNet Margin46th percentile

Revenue

Up

$1,363,207

Up $494,977 (+57%) from 2022

Expenses

Up

$1,331,528

Up $566,095 (+74%) from 2022

Net Income

Down

$31,679

Down $71,118 (-69%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth55th 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

2023

Assets$940,611
Liabilities$25,930
Net Assets$914,681
Open 2023 Filing

Operations Trend

Revenue Growth85th 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

2023

Revenue$1,363,207
Expenses$1,331,528
Net Income$31,679
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Aug 5, 2024
Return Version
2023v5.1
Gross Receipts
$1,363,207
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$797,881$898,785▲ $100,904
Prepaid Expenses and Deferred Charges$66,722$40,924▼ $25,798
Land, Buildings, and Equipment, Net$18,399$902▼ $17,497
Total Assets$883,002$940,611▲ $57,609
Liabilities
Accounts Payable and Accrued Expenses-$25,930-
Total Liabilities$0$25,930▲ $25,930
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$883,002$914,681▲ $31,679
Total Net Assets Fund Balance$883,002$914,681▲ $31,679
Total Liabilities and Net Assets / Fund Balance$883,002$940,611▲ $57,609

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$902$36,854$37,756
Compensation and Service Providers
Top Officer Pay81st percentile

Employees

NameTitleFull / Part TimeBaseTotal
Kathryn HobbsDirectorPT$142,468$142,468

Board Members and Trustees

NameTitle
David L Brown MdDirector
Michael J MackDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$1,206,097
Program Service Revenue
$157,110
Investment Income
$0
Other Revenue
$0
All Other Contributions
$1,206,097
Change in Net Assets
$31,679
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$814,711
Grants and Similar Amounts Paid$261,148
Salaries, Compensation, and Employee Benefits$255,669
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$261,148--$261,148
Information Technology$255,208--$255,208
Occupancy$249,227--$249,227
Current Officers, Directors, Trustees, and Key Employees-$142,468-$142,468
Other Salaries and Wages-$95,032-$95,032
Travel$71,491--$71,491
Office Expenses-$39,961-$39,961
Advertising$38,576--$38,576
Conferences and Meetings$23,174--$23,174
Fees for Services Accounting-$19,959-$19,959
Payroll Taxes-$18,169-$18,169
Fees for Services Management-$5,450-$5,450
Depreciation Depletion-$2,496-$2,496
Fees for Services Other$1,516--$1,516
Other Expenses$14,982$1,370-$1,370
Insurance-$1,159-$1,159
Fees for Services Legal-$480-$480
All Other Expenses-$160-$160
Total Functional Expenses$915,322$416,206$0$1,331,528
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Baylor Healthcare System FoundationDallas, TX501(c)(3)Promotion of Medical Education$261,000
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
2024-08-05
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
3
Volunteers
0

Preparer

Firm
Baker Tilly Advisory Group Lp
Address
17 COWBOYS WAY SUITE 800, FRISCO, TX 75034
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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IRS990ScheduleD/EquipmentGrp/BookValueAmt0902
IRS990ScheduleD/EquipmentGrp/DepreciationAmt036854
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt037756
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0902
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt0261000
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(3)
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
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IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0BAYLOR HEALTHCARE SYSTEM FOUNDATION
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ORGANIZATION'S PROCESS TO REVIEW FORM 990 - THE FORM 990 WAS REVIEWED BY ONLY ONE MEMBER OF THE GOVERNING BODY PRIOR TO FILING.
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
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IRS990/SubjectToExcsTaxNetInvstIncInd00
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IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0416206
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IRS990/TotalLiabilitiesBOYAmt00
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IRS990/TotalProgramServiceExpensesAmt0915322
IRS990/TotalProgramServiceRevenueAmt0157110
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IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0157110
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IRS990/WebsiteAddressTxt0HTTPS://THEFACET.ORG
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ReturnHeader/BuildTS02024-08-08 14:25:15Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0KATHRYN HOBBS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DIRECTOR
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ReturnHeader/BusinessOfficerGrp/SignatureDt02024-08-05
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0390859910
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BAKER TILLY ADVISORY GROUP LP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt017 COWBOYS WAY SUITE 800
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
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ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LAUREEN NOONAN
ReturnHeader/ReturnTs02024-08-05T15:43:24-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$940,611
Liabilities
$25,930
Net assets
$914,681
Revenue
$1,363,207
Expenses
$1,331,528
Net income
$31,679
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