Civic Intelligence

De Novo Group

990 • Fiscal year 2021 • EIN 26-3544198

Jul 01, 2020 to Jun 30, 2021 • Filed on Dec 21, 2021

9450 SW Gemini Dr Suite 21389Beaverton, OR 97008

(510) 545-6717

Siviq Scores

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

Liabilities / Assets

37th percentile

0.00x

Higher debt load relative to assets than 37% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

36th percentile

0.00x

Higher debt load relative to revenue than 36% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Net Margin

24th percentile

-2.2%

Higher net margin than 24% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

97th percentile

$247,315

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 40.6% of source-year revenue.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Asset Growth

12th percentile

-8.9%

Faster asset growth than 12% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Revenue Growth

4th percentile

-61%

Faster revenue growth than 4% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Assets

Down

$656,562

Down $64,428 (-8.9%) from 2020

Net Assets

Down

$653,892

Down $13,655 (-2.0%) from 2020

Liabilities

Down

$2,670

Down $50,773 (-95%) from 2020

Revenue

Down

$608,890

Down $940,470 (-61%) from 2020

Expenses

Down

$622,545

Down $839,236 (-57%) from 2020

Net Income

Down

-$13,655

Down $101,234 (-116%) from 2020

Historical Trend

Balance Sheet Trend

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

$800K$600K$400K$200K$0Assets 2016: $239,901Liabilities 2016: $835Net Assets 2016: $239,0662016Assets 2017: $174,473Liabilities 2017: $835Net Assets 2017: $173,6382017Assets 2018: $253,712Liabilities 2018: $15,276Net Assets 2018: $238,4362018Assets 2019: $665,800Liabilities 2019: $85,832Net Assets 2019: $579,9682019Assets 2020: $720,990Liabilities 2020: $53,443Net Assets 2020: $667,5472020Assets 2021: $656,562Liabilities 2021: $2,670Net Assets 2021: $653,8922021Assets 2022: $295,443Liabilities 2022: $7,871Net Assets 2022: $287,5722022Assets 2023: $170,966Liabilities 2023: $6,369Net Assets 2023: $164,5972023

Highlighted filing

2021

Assets$656,562
Liabilities$2,670
Net Assets$653,892

Operations Trend

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

$2.0M$1.5M$1.0M$500K$0-$500KRevenue 2016: $810,473Expenses 2016: $835,913Net Income 2016: -$25,4402016Revenue 2017: $530,521Expenses 2017: $549,967Net Income 2017: -$19,4462017Revenue 2018: $879,670Expenses 2018: $814,872Net Income 2018: $64,7982018Revenue 2019: $1,250,827Expenses 2019: $909,295Net Income 2019: $341,5322019Revenue 2020: $1,549,360Expenses 2020: $1,461,781Net Income 2020: $87,5792020Revenue 2021: $608,890Expenses 2021: $622,545Net Income 2021: -$13,6552021Revenue 2022: $0Expenses 2022: $366,320Net Income 2022: -$366,3202022Revenue 2023: $27,561Expenses 2023: $150,536Net Income 2023: -$122,9752023

Highlighted filing

2021

Revenue$608,890
Expenses$622,545
Net Income-$13,655
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Dec 21, 2021
Return Version
2020v4.0
Gross Receipts
$633,890
Mission and Program Overview

Mission

We turn cutting-edge research into sustainable solutions to impact developing communities.

De Novo Group bridges the gap between research and impact by turning novel university research into applicable technological solutions to improve the quality of life in rural and developing communities worldwide.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$644,179$608,229▼ $35,950
Land, Buildings, and Equipment, Net$74,901$39,877▼ $35,024
Accounts Receivable-$8,456-
Prepaid Expenses and Deferred Charges$1,910$0▼ $1,910
Savings and Temporary Cash Investments-$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-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$720,990$656,562▼ $64,428
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$53,443$2,670▼ $50,773
Total Liabilities$53,443$2,670▼ $50,773
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$667,547$653,892▼ $13,655
Total Net Assets Fund Balance$667,547$653,892▼ $13,655
Total Liabilities and Net Assets / Fund Balance$720,990$656,562▼ $64,428

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$39,877$26,459$66,336
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Yahel Ben-DavidPresident & EDFT$226,875$20,440$247,315
Tamir ScheinokCOO/CFOFT$226,875$19,497$246,372

Board Members and Trustees

NameTitle
AnnaLee SaxenianBoard Member
Eric BrewerBoard Member
Dr Rabin PatraSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$464,223
Investment Income
$144,667
Other Revenue
$0
Change in Net Assets
$-13,655
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$319,071
Other Expenses$303,474
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$231,000$57,750-$288,750
Fees for Services Other$146,051--$146,051
Insurance$15,484$815-$16,299
Other Employee Benefits$12,691$3,173-$15,864
Payroll Taxes$11,566$2,891-$14,457
Depreciation Depletion$9,702$511-$10,213
Travel$10,136--$10,136
Fees for Services Accounting-$10,100-$10,100
Occupancy$8,660$456-$9,116
Information Technology$5,274$278-$5,552
Fees for Services Legal$5,219$275-$5,494
Office Expenses$3,473$183-$3,656
Advertising$730--$730
Other Expenses$190$10-$200
Total Functional Expenses$539,045$83,500$0$622,545
International Activity

International Summary

Employees
5
Spending
$50,091

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
South AsiaProgram servicesSoftware develop consultant05$50,091
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Tamir ScheinokCoo/cfoAsset saleNo$169,667
Yahel Ben DavidPresident & EDAsset saleNo$169,667

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
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
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
Yes
Other officer compensation reviewed
Yes
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 11B: Form 990 Review Process

Internal Review, Review by external accounting services with expertise non-profit administration, review by CPA specialized in Non-profits.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

Review of Non-profit market data, review by outside counsel, review and approval by independent directors/ board.

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

Review of Non-profit market data, review by outside counsel, review and approval by independent directors/ board.

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

The organization does not make its governing documents, conflict of interest policy, and financial statements available to the public.

Filing and Contact Details

Filer

Filer Name
De Novo Group
EIN
26-3544198
Phone
5105456717
Address
9450 SW Gemini Dr Suite 21389, Beaverton, OR 97008

Signing Officer

Name
Tamir Scheinok
Title
CFO & COO
Signed
2021-12-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Yahel Ben-David
Formed
2008
Legal Domicile
CA
Voting Board Members
3
Independent Board Members
2
Employees
2
Volunteers
2

Preparer

Firm
Crosby & Kaneda CPAs LLP
Address
1970 Broadway STE 930, Oakland, CA 94612
Preparer
Felix Gorrindo
Phone
5108352727
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 3: Ceased Conducting or Significant Changes To Services

As of year end, De Novo Group has terminated its "Further Reach" program.

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IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt0113
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt01250248
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0879609
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt06
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt029
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt078
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IRS990ScheduleA/InvestmentIncomeCYPct00.00000
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IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt04674601
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IRS990ScheduleD/EquipmentGrp/BookValueAmt039877
IRS990ScheduleD/EquipmentGrp/DepreciationAmt026459
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt066336
IRS990ScheduleD/TotalBookValueLandBuildingsAmt039877
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/EmployeeCnt05
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/OfficesCnt00
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt050091
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt0South Asia
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt0Software develop consultant
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt0Program services
IRS990ScheduleF/BoycottCountriesInd0false
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IRS990ScheduleF/ForeignPartnershipInd0false
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt1226875
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt019497
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt120440
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Tamir Scheinok
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1Yahel Ben-David
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0COO/CFO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1President & ED
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt1247315
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0Yahel Ben David
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm1Tamir Scheinok
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0President & ED
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt1COO/CFO
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd1false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt0169667
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt1169667
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0Asset sale
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc1Asset sale
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0De Novo Group sold assets to Further Reach Inc., a corporation owned and controlled by Yahel Ben David (an officer and a director of De Novo Group) and Tamir Scheinok (an officer of De Novo Group). The transaction satisfied the presumption of reasonableness in Treas. Reg. 53.4958-6; it was approved in advance by the members of the board of directors who do not have a conflict of interest with respect to the transaction; the approving directors obtained and relied on a third party valuation of fair market value, and the approving directors documented the basis for its determination concurrently with such determination. The final sale price was determined by the appraised value and increased by the purchase price of additional assets purchased after the date of the appraisal and included in the sale. See Schedule N for the list of assets.
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule L, Part V Supplemental Information
IRS990ScheduleN/DirectorOfSuccessor2Ind0true
IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0Radio gear
IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc1Computer hardware
IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc2Tools
IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc3Computers
IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc4Vehicle
IRS990ScheduleN/DispositionOfAssetsDetail/BusinessName/BusinessNameLine1Txt0Further Reach Inc
IRS990ScheduleN/DispositionOfAssetsDetail/BusinessName/BusinessNameLine1Txt1Further Reach Inc
IRS990ScheduleN/DispositionOfAssetsDetail/BusinessName/BusinessNameLine1Txt2Further Reach Inc
IRS990ScheduleN/DispositionOfAssetsDetail/BusinessName/BusinessNameLine1Txt3Further Reach Inc
IRS990ScheduleN/DispositionOfAssetsDetail/BusinessName/BusinessNameLine1Txt4Further Reach Inc
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt02020-09-01
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt12020-09-01
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt22020-09-01
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt32020-09-01
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt42020-09-01
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IRS990ScheduleN/DispositionOfAssetsDetail/EIN4851813174
IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt032695

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