Civic Intelligence

Presbyterian Foundation of Boulder

990 • Fiscal year 2020 • EIN 26-3506082

Jan 01, 2020 to Dec 31, 2020 • Filed on Jun 07, 2021

PO Box 1572Boulder, CO 80306

(720) 295-3651

Siviq Scores

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

Liabilities / Assets

51st percentile

0.11x

Higher debt load relative to assets than 51% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

87th percentile

1.30x

Higher debt load relative to revenue than 87% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

94th percentile

68%

Higher net margin than 94% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

37th percentile

$0

Higher top officer pay than 37% of similar nonprofits.

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

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

29th percentile

-0.7%

Faster asset growth than 29% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

5th percentile

-62%

Faster revenue growth than 5% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Assets

Down

$1,406,228

Down $9,312 (-0.7%) from 2019

Net Assets

Up

$1,254,344

Up $160,626 (+15%) from 2019

Liabilities

Down

$151,884

Down $169,938 (-53%) from 2019

Revenue

Down

$117,075

Down $187,860 (-62%) from 2019

Expenses

Down

$37,226

Down $1,379 (-3.6%) from 2019

Net Income

Down

$79,849

Down $186,481 (-70%) from 2019

Historical Trend

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0Assets 2019: $1,415,540Liabilities 2019: $321,822Net Assets 2019: $1,093,7182019Assets 2020: $1,406,228Liabilities 2020: $151,884Net Assets 2020: $1,254,3442020Assets 2021: $1,490,040Liabilities 2021: $610Net Assets 2021: $1,489,4302021Assets 2022: $1,833,763Liabilities 2022: $145,495Net Assets 2022: $1,688,2682022Assets 2023: $1,994,211Liabilities 2023: $653Net Assets 2023: $1,993,5582023Assets 2024: $2,036,206Liabilities 2024: $1,614Net Assets 2024: $2,034,5922024Assets 2025: $2,091,574Liabilities 2025: $1,771Net Assets 2025: $2,089,8032025

Highlighted filing

2020

Assets$1,406,228
Liabilities$151,884
Net Assets$1,254,344

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2019: $304,935Expenses 2019: $38,605Net Income 2019: $266,3302019Revenue 2020: $117,075Expenses 2020: $37,226Net Income 2020: $79,8492020Revenue 2021: $191,666Expenses 2021: $51,473Net Income 2021: $140,1932021Revenue 2022: $825,957Expenses 2022: $383,075Net Income 2022: $442,8822022Revenue 2023: $252,292Expenses 2023: $77,101Net Income 2023: $175,1912023Revenue 2024: $213,489Expenses 2024: $255,070Net Income 2024: -$41,5812024Revenue 2025: $170,467Expenses 2025: $260,118Net Income 2025: -$89,6512025

Highlighted filing

2020

Revenue$117,075
Expenses$37,226
Net Income$79,849
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Jun 7, 2021
Return Version
2020v4.0
Gross Receipts
$643,576
Mission and Program Overview

Mission

The mission of grace commons foundation is to build an endowment in partnership with grace commons church to serve god's kingdom and advance the gospel and work of jesus christ. Its vision is to encourage, support, and facilitate growth of the christian faith locally and across the world through the purposeful generosity of god's people.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$177,470$200,930▲ $23,460
Savings and Temporary Cash Investments$110,546$174,276▲ $63,730
Cash and Non-Interest-Bearing Accounts$872$12,733▲ $11,861
Prepaid Expenses and Deferred Charges$1,273$596▼ $677
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$1,415,540$1,406,228▼ $9,312
Other Assets Total$1,125,379$1,017,693▼ $107,686
Liabilities
Other Liabilities$320,502$150,656▼ $169,846
Accounts Payable and Accrued Expenses$1,320$1,228▼ $92
Total Liabilities$321,822$151,884▼ $169,938
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$726,195$865,547▲ $139,352
Net Assets With Donor Restrictions$367,523$388,797▲ $21,274
Total Net Assets Fund Balance$1,093,718$1,254,344▲ $160,626
Total Liabilities and Net Assets / Fund Balance$1,415,540$1,406,228▼ $9,312

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings-$773$773
Other Assets Org$213,221--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$204,454$1,000▲ $21,227$13,460$213,221
2019$181,656-▲ $36,459$13,661$204,454
2018$207,897-▼ $12,309$13,932$181,656
2017$196,500-▲ $25,601$14,204$207,897
2016$197,614-▲ $12,888$14,002$196,500
Compensation and Service Providers

Board Members and Trustees

NameTitle
Larry DreesChair
Howard W AndersonPast Chair
Greg ParrVice Chair
Kha LeDirector
Marilynne B TarrallDirector
Sandy BrackenDirector
Tony FischerDirector
Garry L GorsuchPast Treasurer
Merry Lynne HamiltonSecretary
Terri EvansTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$72,955
Program Service Revenue
$0
Investment Income
$33,741
Other Revenue
$10,379
All Other Contributions
$72,955
Change in Net Assets
$79,849

Audited Revenue Reconciliation

Revenue per Audited Statements
$117,075
Revenue Not Reported on Form 990
$80,777
Total Revenue per Audited Statements
$197,852
Total Revenue per Form 990
$117,075
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$37,226
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-$10,379-$10,379
Fees for Services Accounting-$7,050-$7,050
Insurance-$1,631-$1,631
Other Expenses-$643-$643
All Other Expenses-$640-$640
Interest-$14-$14
Office Expenses-$7-$7
Total Functional Expenses$0$37,226$0$37,226

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$37,226
Total Expenses per Audited Statements$37,226
Total Expenses per Form 990$37,226
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Beneficial interest held for GCC$150,656
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
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
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 4: Description of Significant Changes to Organizational Documents

Applied for and received approval from the IRS to be classified as an integrated auxiliary of a church as defined in Treasury Regulation Section 1.6033-2(h).

Form 990, Part VI, Line 11B: Form 990 Review Process

Board of Directors presented with draft of 990 before filing. All members must review and approve.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

Governing docs, policies and finanacial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
Grace Commons Foundation
EIN
26-3506082
Phone
7202953651
Address
PO BOX 1572, BOULDER, CO 80306

Signing Officer

Name
Terri Evans
Title
Treasurer
Signed
2021-06-07
Discuss with paid preparer
Yes

Organization Details

Formed
2008
Legal Domicile
Co
Voting Board Members
10
Independent Board Members
10
Employees
0

Preparer

Firm
Middlemist Crouch & Co Cpas Pc
Address
2960 CENTER GREEN CT, BOULDER, CO 80301
Preparer
Catherine Middlemist CPA
Phone
3034494025
Supplemental Narrative

Financial Statement Notes

Part V, Line 4: Intended uses of the endowment fund.

The endowment funds are used to respond to program grant requests at the discretion of the board of directors.

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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0Grace Commons Foundation changed its status to a supporting organization of the Grace Commons Church during the year and was approved by the IRS as an integrated auxiliary of a church on June 25th 2020. The Board amended its Articles of Organization and Bylaws accordingly.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1All of the activities of Grace Commons Foundation furthered the exempt purposes of Grace Commons Church. The Foundation changed its name to support the new name of Grace Commons Church and the Foundations mission, vision, processes and all communication materials were aligned to support Grace Commons Church. There were no substantial activities beyond these.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt2The supported organization would have engaged in these activities itself, if the organization had not been involved in these activities. These activities created the base for growing the funding of the Foundation that would benefit the supported organization.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0Part IV, Section A, Line 5a: Details Of Added, Substitute, Or Removed Supported Orgs.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc1Part IV, Section E, Line 2a: Identify Supported Orgs. and Explain How Activities Furthered Exempt Pu
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc2Part IV, Section E, Line 2b: Reasons For The Organization's Position
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0GRACE COMMONS CHURCH
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IRS990ScheduleD/ExpensesSubtotalAmt037226
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