Civic Intelligence

Psesd Foundation

990 • Fiscal year 2014 • EIN 26-3412148

Jan 01, 2014 to Dec 31, 2014 • Filed on Aug 13, 2015

Organization ProfileN/A
800 Oakesdale Avenue SWRenton, WA 98057-5221

(425) 917-7783

Siviq Scores

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

Liabilities / Assets

96th percentile

1.17x

Higher debt load relative to assets than 96% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Liabilities / Revenue

99th percentile

36.01x

Higher debt load relative to revenue than 99% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Net Margin

2nd percentile

-113%

Higher net margin than 2% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Top Officer Pay

12th percentile

$0

Higher top officer pay than 12% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Asset Growth

18th percentile

-3.9%

Faster asset growth than 18% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2013 to 2014

Revenue Growth

36th percentile

0.3%

Faster revenue growth than 36% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets96th percentile

Assets

Down

$18,309,783

Down $741,256 (-3.9%) from 2013

Net Assets

Down

-$3,146,323

Down $741,256 (-31%) from 2013

Liabilities

Flat

$21,456,106

Flat from 2013

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin2nd percentile

Revenue

Up

$595,878

Up $1,525 (+0.3%) from 2013

Expenses

Down

$1,268,533

Down $14,266 (-1.1%) from 2013

Net Income

Up

-$672,655

Up $15,791 (+2.3%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth18th percentile

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

$30M$20M$10M$0-$10MAssets 2011: $20,649,745Liabilities 2011: $21,581,439Net Assets 2011: -$931,6942011Assets 2012: $20,703,541Liabilities 2012: $22,351,559Net Assets 2012: -$1,648,0182012Assets 2013: $19,051,039Liabilities 2013: $21,456,106Net Assets 2013: -$2,405,0672013Assets 2014: $18,309,783Liabilities 2014: $21,456,106Net Assets 2014: -$3,146,3232014Assets 2015: $17,514,999Liabilities 2015: $21,340,000Net Assets 2015: -$3,825,0012015

Highlighted filing

2014

Assets$18,309,783
Liabilities$21,456,106
Net Assets-$3,146,323
Open 2014 Filing

Operations Trend

Revenue Growth36th percentile

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

$2.0M$1.0M$0-$1.0MExpenses 2011: $1,037,2372011Expenses 2012: $1,320,2712012Revenue 2013: $594,353Expenses 2013: $1,282,799Net Income 2013: -$688,4462013Revenue 2014: $595,878Expenses 2014: $1,268,533Net Income 2014: -$672,6552014Revenue 2015: $545,947Expenses 2015: $1,247,065Net Income 2015: -$701,1182015

Highlighted filing

2014

Revenue$595,878
Expenses$1,268,533
Net Income-$672,655
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Aug 13, 2015
Return Version
2014v5.0
Gross Receipts
$595,878
Mission and Program Overview

Mission

To function primarily as support agencies and deliver educational services that can be more efficiently or economically performed regionally.

Organized exclusively for charitable, scientific, literary, or educational purposes.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$18,354,398$17,643,000▼ $711,398
Intangible Assets$565,206$527,526▼ $37,680
Cash and Non-Interest-Bearing Accounts$131,435$138,525▲ $7,090
Prepaid Expenses and Deferred Charges-$732-
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$-2,405,067$-3,146,323▼ $741,256
Total Assets$19,051,039$18,309,783▼ $741,256
Liabilities
Mortgage Notes Payable Secured by Investment Property$21,340,000$21,340,000→ $0
Other Liabilities$116,106$116,106→ $0
Total Liabilities$21,456,106$21,456,106→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$-2,405,067$-3,146,323▼ $741,256
Total Liabilities and Net Assets / Fund Balance$19,051,039$18,309,783▼ $741,256

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$16,850,377$2,253,002-
Equipment$792,623$859,511-
Compensation and Service Providers
Top Officer Pay12th percentile

Board Members and Trustees

NameTitle
Robert BeemPresident
Monte BridgesVice President
Duggan HarmonSecretary/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$595,878
Change in Net Assets
$-672,655

Audited Revenue Reconciliation

Revenue per Audited Statements
$595,878
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$595,878
Total Revenue per Form 990
$595,878
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,268,533
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
Depreciation Depletion$680,477--$680,477
Interest$460,639--$460,639
Other Expenses$10,128--$10,128
Fees for Services Accounting$8,214--$8,214
Total Functional Expenses$1,268,533$0$0$1,268,533

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,337,134
Expenses per Audited Statements$1,268,533
Total Expenses per Form 990$1,268,533
Expenses Not Reported on Form 990$68,601
Expenses Not Reported on Financial Statements$0
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Interest Payable$116,106
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 7A

“All vacancies in the board of directors, whether by resignation, death or otherwise, may be filled by the affirmative vote of a majority of the remaining directors.”

Form 990, Part VI, Section A, Line 7B

“A majority of the members of the board of directors shall be necessary and sufficient at all meetings to constitute a quorum for the transaction of business. Each director shall be entitled to one vote and voting by proxy is prohibited. A vote by a majority of the directors shall constitute the action of the board.”

Form 990, Part VI, Section B, Line 11

“Form 990 and supporting schedules are prepared by a tax preparer. The officers of the filing organization review the return for accuracy prior to filing with the irs.”

Form 990, Part VI, Section C, Line 19

“The organization's documents will be made available for public inspection upon letter request under internal revenue code section 6104.”

Filing and Contact Details

Filer

Filer Name
Psesd Foundation
EIN
26-3412148
Phone
4259177783
Address
800 OAKESDALE AVENUE SW, RENTON, WA 98057-5221

Signing Officer

Name
Robert Beem
Title
President
Phone
4259177783
Signed
2015-08-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert Beem
Formed
2008
Legal Domicile
Wa
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
Novogradac & Company Llp
Address
111 SW FIFTH AVENUE SUITE 1100, PORTLAND, OR 97204
Preparer
Nicolo R Pinoli
Phone
5038212700
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Book/tax depreciation difference -68,601.”

Form 990. Part XII, Line 2C.

“The organization has not changed its oversight process or selection process during the current tax year.”

Financial Statement Notes

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Book/tax depreciation difference 68,601.”

Raw XML Appendix334 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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IRS990/MoreThan5000KToOrgInd00
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0BOOK/TAX DEPRECIATION DIFFERENCE 68,601.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART XII, LINE 2D - OTHER ADJUSTMENTS:
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IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ALL VACANCIES IN THE BOARD OF DIRECTORS, WHETHER BY RESIGNATION, DEATH OR OTHERWISE, MAY BE FILLED BY THE AFFIRMATIVE VOTE OF A MAJORITY OF THE REMAINING DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A MAJORITY OF THE MEMBERS OF THE BOARD OF DIRECTORS SHALL BE NECESSARY AND SUFFICIENT AT ALL MEETINGS TO CONSTITUTE A QUORUM FOR THE TRANSACTION OF BUSINESS. EACH DIRECTOR SHALL BE ENTITLED TO ONE VOTE AND VOTING BY PROXY IS PROHIBITED. A VOTE BY A MAJORITY OF THE DIRECTORS SHALL CONSTITUTE THE ACTION OF THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 AND SUPPORTING SCHEDULES ARE PREPARED BY A TAX PREPARER. THE OFFICERS OF THE FILING ORGANIZATION REVIEW THE RETURN FOR ACCURACY PRIOR TO FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION'S DOCUMENTS WILL BE MADE AVAILABLE FOR PUBLIC INSPECTION UPON LETTER REQUEST UNDER INTERNAL REVENUE CODE SECTION 6104.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4BOOK/TAX DEPRECIATION DIFFERENCE -68,601.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION HAS NOT CHANGED ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE CURRENT TAX YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990. PART XII, LINE 2C.
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IRS990/USAddress/ZIPCd098057
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ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum04259177783
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ReturnHeader/TaxPeriodEndDt02014-12-31
ReturnHeader/TaxYr02014

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$18,309,783
Liabilities
$21,456,106
Net assets
-$3,146,323
Revenue
$595,878
Expenses
$1,268,533
Net income
-$672,655
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2015Detailed filing. Detailed filing data is available for this year.$17.5$21.3$3.83$0.55$1.25$0.70
2014Detailed filing. Detailed filing data is available for this year.$18.3$21.5$3.15$0.60$1.27$0.67
2013Detailed filing. Detailed filing data is available for this year.$19.1$21.5$2.41$0.59$1.28$0.69
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$20.7$22.4$1.65$1.32
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$20.6$21.6$0.93$1.04