Civic Intelligence

Psesd Foundation

990 • Fiscal year 2015 • EIN 26-3412148

Jan 01, 2015 to Dec 31, 2015 • Filed on May 09, 2016

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

1.22x

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

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Liabilities / Revenue

99th percentile

39.09x

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

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Net Margin

2nd percentile

-128%

Higher net margin than 2% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2015

Asset Growth

21st percentile

-4.3%

Faster asset growth than 21% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Revenue Growth

22nd percentile

-8.4%

Faster revenue growth than 22% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets96th percentile

Assets

Down

$17,514,999

Down $794,784 (-4.3%) from 2014

Net Assets

Down

-$3,825,001

Down $678,678 (-22%) from 2014

Liabilities

Down

$21,340,000

Down $116,106 (-0.5%) from 2014

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin2nd percentile

Revenue

Down

$545,947

Down $49,931 (-8.4%) from 2014

Expenses

Down

$1,247,065

Down $21,468 (-1.7%) from 2014

Net Income

Down

-$701,118

Down $28,463 (-4.2%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth21st 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

2015

Assets$17,514,999
Liabilities$21,340,000
Net Assets-$3,825,001
Open 2015 Filing

Operations Trend

Revenue Growth22nd 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

2015

Revenue$545,947
Expenses$1,247,065
Net Income-$701,118
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
May 9, 2016
Return Version
2015v2.1
Gross Receipts
$545,947
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$17,643,000$17,022,643▼ $620,357
Intangible Assets$527,526$489,846▼ $37,680
Cash and Non-Interest-Bearing Accounts$138,525$2,510▼ $136,015
Prepaid Expenses and Deferred Charges$732$0▼ $732
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$-3,146,323$-3,825,001▼ $678,678
Total Assets$18,309,783$17,514,999▼ $794,784
Liabilities
Mortgage Notes Payable Secured by Investment Property$21,340,000$21,340,000→ $0
Other Liabilities$116,106$0▼ $116,106
Total Liabilities$21,456,106$21,340,000▼ $116,106
Net Assets / Fund Balance
Total Net Assets Fund Balance$-3,146,323$-3,825,001▼ $678,678
Total Liabilities and Net Assets / Fund Balance$18,309,783$17,514,999▼ $794,784

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$16,372,765$2,730,614-
Equipment$649,878$1,002,256-
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$545,947
Change in Net Assets
$-701,118

Audited Revenue Reconciliation

Revenue per Audited Statements
$545,947
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$545,947
Total Revenue per Form 990
$545,947
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,247,065
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
Fees for Services Accounting$10,609--$10,609
Other Expenses$10,032--$10,032
Total Functional Expenses$1,247,065$0$0$1,247,065

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,247,065
Total Expenses per Form 990$1,247,065
Total Expenses per Audited Statements$1,224,625
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$-22,440
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
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
Duggan Harman
Title
Secretary/treasurer
Phone
4259177783
Signed
2016-05-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Duggan Harman
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 22,440.”

Form 990,M Part XII, Line 2C.

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

Financial Statement Notes

PART X, LINE 2:

“Income taxes the corporation is a nonprofit corporation under section 501(c)(3) of the internal revenue code and, therefore, is generally exempt from both federal and state income taxes. The preparation of financial statements in conformity with accounting principles generally accepted in the united states of america requires the corporation to report information regarding its exposure to various tax positions taken by the corporation. Management has determined whether any tax positions have met the recognition threshold and has measured the corporation's exposure to those tax positions. Management believes that the corporation has adequately addressed all relevant tax positions and that there are no unrecorded tax liabilities. Federal and state tax authorities generally have the right to examine and audit the previous three years of tax returns filed. Any interest or penalties assessed to the corporation are recorded in operating expenses. No interest or penalties from federal or state tax authorities were recorded in the accompanying financial statements.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Book/tax depreciation difference -22,440.”

Raw XML Appendix331 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/Desc0THE PSESD FOUNDATION'S THREE LARGEST PROGRAM SERVICE ACCOMPLISHMENTS ARE OWNING, ACQUIRING, AND MANAGING REAL PROPERTY THAT IS USED SOLELY FOR THE PURPOSES OF CHARITABLE, SCIENTIFIC, LITERARY, OR EDUCATIONAL PURPOSES, WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0INCOME TAXES THE CORPORATION IS A NONPROFIT CORPORATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND, THEREFORE, IS GENERALLY EXEMPT FROM BOTH FEDERAL AND STATE INCOME TAXES. THE PREPARATION OF FINANCIAL STATEMENTS IN CONFORMITY WITH ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRES THE CORPORATION TO REPORT INFORMATION REGARDING ITS EXPOSURE TO VARIOUS TAX POSITIONS TAKEN BY THE CORPORATION. MANAGEMENT HAS DETERMINED WHETHER ANY TAX POSITIONS HAVE MET THE RECOGNITION THRESHOLD AND HAS MEASURED THE CORPORATION'S EXPOSURE TO THOSE TAX POSITIONS. MANAGEMENT BELIEVES THAT THE CORPORATION HAS ADEQUATELY ADDRESSED ALL RELEVANT TAX POSITIONS AND THAT THERE ARE NO UNRECORDED TAX LIABILITIES. FEDERAL AND STATE TAX AUTHORITIES GENERALLY HAVE THE RIGHT TO EXAMINE AND AUDIT THE PREVIOUS THREE YEARS OF TAX RETURNS FILED. ANY INTEREST OR PENALTIES ASSESSED TO THE CORPORATION ARE RECORDED IN OPERATING EXPENSES. NO INTEREST OR PENALTIES FROM FEDERAL OR STATE TAX AUTHORITIES WERE RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1BOOK/TAX DEPRECIATION DIFFERENCE -22,440.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XII, LINE 2D - OTHER ADJUSTMENTS:
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0ADVERTISED IN LOCAL COMMUNITY, INCLUDED NON-DISCRIMINATION POLICY IN ADVERTISEMENTS THROUGH COMMUNITY'S NEWS LETTERS.
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 22,440.
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,M PART XII, LINE 2C.
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt018309783
IRS990/TotalAssetsEOYAmt017514999
IRS990/TotalAssetsGrp/BOYAmt018309783
IRS990/TotalAssetsGrp/EOYAmt017514999
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01247065
IRS990/TotalFunctionalExpensesGrp/TotalAmt01247065
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt021456106
IRS990/TotalLiabilitiesEOYAmt021340000
IRS990/TotalLiabilitiesGrp/BOYAmt021456106
IRS990/TotalLiabilitiesGrp/EOYAmt021340000
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-3146323
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-3825001
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt01247065
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0545947
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0545947
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt018309783
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt017514999
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0800 OAKESDALE AVENUE SW
IRS990/USAddress/CityNm0RENTON
IRS990/USAddress/StateAbbreviationCd0WA
IRS990/USAddress/ZIPCd098057
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02016-09-27 15:27:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0DUGGAN HARMAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY/TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum04259177783
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-05-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PSESD FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0PSES
ReturnHeader/Filer/EIN0263412148
ReturnHeader/Filer/PhoneNum04259177783
ReturnHeader/Filer/USAddress/AddressLine1Txt0800 OAKESDALE AVENUE SW
ReturnHeader/Filer/USAddress/CityNm0RENTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0WA
ReturnHeader/Filer/USAddress/ZIPCd0980575221
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0943108253
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0NOVOGRADAC & COMPANY LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0111 SW FIFTH AVENUE SUITE 1100
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0PORTLAND
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0OR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd097204
ReturnHeader/PreparerPersonGrp/PhoneNum05038212700
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0NICOLO R PINOLI
ReturnHeader/ReturnTs02016-05-09T15:26:00-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-01-01
ReturnHeader/TaxPeriodEndDt02015-12-31
ReturnHeader/TaxYr02015

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$17,514,999
Liabilities
$21,340,000
Net assets
-$3,825,001
Revenue
$545,947
Expenses
$1,247,065
Net income
-$701,118
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
Peer Organizations

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