Civic Intelligence

Flc Properties Foundation

990 • Fiscal year 2021 • EIN 27-0748899

Jan 01, 2021 to Dec 31, 2021 • Filed on Sep 20, 2022

Organization ProfileN/A
3402 Andy Harris RoadRockford, TN 37853

(865) 681-8326

Siviq Scores

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

Liabilities / Assets

8th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Liabilities / Revenue

8th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Net Margin

99th percentile

100%

Higher net margin than 99% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Top Officer Pay

59th percentile

$140,349

Higher top officer pay than 59% of similar nonprofits.

Top officer pay equals 3.2% of source-year revenue.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Asset Growth

99th percentile

785%

Faster asset growth than 99% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets8th percentile

Assets

Up

$5,333,037

Up $4,730,280 (+785%) from 2020

Net Assets

Up

$5,333,037

Up $4,730,280 (+785%) from 2020

Liabilities

Flat

$0

Flat from 2020

Revenue And Expenses
Liabilities / Revenue8th percentileNet Margin99th percentile

Revenue

Up

$4,448,063

Up $4,825,561 (+1278%) from 2020

Expenses

Down

$19,252

Down $1,275,654 (-99%) from 2020

Net Income

Up

$4,428,811

Up $6,101,215 (+365%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth99th percentile

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

$10M$5.0M$0Assets 2016: $0Net Assets 2016: $02016Assets 2017: $0Liabilities 2017: $0Net Assets 2017: $02017Assets 2018: $934,803Liabilities 2018: $0Net Assets 2018: $934,8032018Assets 2019: $1,789,933Liabilities 2019: $0Net Assets 2019: $1,789,9332019Assets 2020: $602,757Liabilities 2020: $0Net Assets 2020: $602,7572020Assets 2021: $5,333,037Liabilities 2021: $0Net Assets 2021: $5,333,0372021Assets 2022: $9,209,102Liabilities 2022: $2,100Net Assets 2022: $9,207,0022022Assets 2023: $6,286,165Liabilities 2023: $0Net Assets 2023: $6,286,1652023Assets 2024: $5,803,020Liabilities 2024: $1,800Net Assets 2024: $5,801,2202024

Highlighted filing

2021

Assets$5,333,037
Liabilities$0
Net Assets$5,333,037
Open 2021 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2016: $02016Revenue 2017: $0Expenses 2017: $0Net Income 2017: $02017Revenue 2018: $468,470Expenses 2018: $0Net Income 2018: $468,4702018Revenue 2019: $0Expenses 2019: $1,657,573Net Income 2019: -$1,657,5732019Revenue 2020: -$377,498Expenses 2020: $1,294,906Net Income 2020: -$1,672,4042020Revenue 2021: $4,448,063Expenses 2021: $19,252Net Income 2021: $4,428,8112021Revenue 2022: $1,549,575Expenses 2022: $114,784Net Income 2022: $1,434,7912022Revenue 2023: $695,210Expenses 2023: $298,238Net Income 2023: $396,9722023Revenue 2024: $544,750Expenses 2024: $962,995Net Income 2024: -$418,2452024

Highlighted filing

2021

Revenue$4,448,063
Expenses$19,252
Net Income$4,428,811
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Sep 20, 2022
Return Version
2021v4.2
Gross Receipts
$5,012,488
Mission and Program Overview

Mission

Supporting organization to foothills land conservancy.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$113,276$387,043▲ $273,767
Accounts Receivable-$85,000-
Cash and Non-Interest-Bearing Accounts$40,975$40,692▼ $283
Total Assets$602,757$5,333,037▲ $4,730,280
Other Assets Total$448,506$4,820,302▲ $4,371,796
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$602,757$5,333,037▲ $4,730,280
Total Net Assets Fund Balance$602,757$5,333,037▲ $4,730,280
Total Liabilities and Net Assets / Fund Balance$602,757$5,333,037▲ $4,730,280

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$4,784,302--
Compensation and Service Providers
Top Officer Pay59th percentile

Employees

NameTitleFull / Part TimeOtherTotal
William C ClaboughExecutive DirectorPT$140,349$140,349

Board Members and Trustees

NameTitle
Robert Van HookPresident
Dan BarnettBoard Member
John ProffittBoard Member
Sara Fortune RoseBoard Member
Spencer HallBoard Member
Mark JendrekSecretary
Mark KingTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$4,700,651
Program Service Revenue
$10,000
Investment Income
$-262,588
Other Revenue
$0
All Other Contributions
$4,700,651
Change in Net Assets
$4,428,811

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Real Estate Other2$4,614,251Real Estate
Total Noncash Contributions2$4,614,251-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$19,252
Total Fundraising Expense$2,500
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Service Investment Mgmnt Fees-$2,524-$2,524
Other Expenses$647$647$2,500$1,294
Total Functional Expenses$10,647$6,105$2,500$19,252
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
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“The form 990 is reviewed by the financial committee. Form 990 is then presented to the board of directors by the treasurer for approval. Once the form 990 is approved by the board of directors, it is filed with the internal revenue service.”

Form 990, Part VI, Section B, Line 12C

“Flc properties foundation requires each board member and employee to sign a conflict of interest statement which includes a requirement to continuously review activities and report any matter that may rise to the level of a conflict of interest. Any board member involved in a transaction which could be construed as a conflict of interest transaction is prohibited from participating in the discussion of and voting on that transaction.”

Form 990, Part VI, Section B, Line 15A

“Line 15a - compensation process for top official the compensation committee meets on an annual basis to review comparability data and work product of each employee. The president conducts an annual review of the executive director after a conference with the compensation committee. The compensation committee makes a recommendation to the board.”

Form 990, Part VI, Section C, Line 19

“Upon request the governing documents are made available to the public.”

Filing and Contact Details

Filer

Filer Name
Flc Properties Foundation
EIN
27-0748899
Phone
8656818326
Address
3402 ANDY HARRIS ROAD, ROCKFORD, TN 37853

Signing Officer

Name
William Clabough
Title
Executive Director
Phone
8656818326
Signed
2022-09-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
William Clabough
Formed
2009
Legal Domicile
Tn
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
0

Preparer

Firm
Lbmc Pc
Address
2095 LAKESIDE CENTRE WAY SUITE 220, KNOXVILLE, TN 37922
Preparer
Amanda P Hensley CPA
Phone
8656919000
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Transfer of property from foothills land conservancy 292,900. Rounding 1.”

FORM 990, PART XII, LINE 2C:

“The finance committee oversights the audit.”

Financial Statement Notes

PART X, LINE 2:

“The organization is exempt from federal income taxes under the provision of internal revenue code section 501(c)(3), and , accordingly, no provision for income taxes is included in the consolidated financial statements. The internal revenue service ("irs") does not classify the organization as a private foundation. An uncertain tax position is recognized as a benefit only if it is "more likely than not" that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the "more likely than not" test, no tax benefit is recorded. The organization has no material uncertain tax positions that qualify for either recognition or disclosure in the consolidated financial statements. As of december 31, 2021, the organization has accrued no interest and no penalties related to uncertain tax positions. It is the organization's policy to recognize interest and/or penalties related to income tax matters in income tax expense. The organization files a u.s. Federal information tax return annually.”

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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/OtherAssetsOrgGrp/Desc1LAND - NOT SUBJECT TO CONSERVATION EASEMENT
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISION OF INTERNAL REVENUE CODE SECTION 501(C)(3), AND , ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS INCLUDED IN THE CONSOLIDATED FINANCIAL STATEMENTS. THE INTERNAL REVENUE SERVICE ("IRS") DOES NOT CLASSIFY THE ORGANIZATION AS A PRIVATE FOUNDATION. AN UNCERTAIN TAX POSITION IS RECOGNIZED AS A BENEFIT ONLY IF IT IS "MORE LIKELY THAN NOT" THAT THE TAX POSITION WOULD BE SUSTAINED IN A TAX EXAMINATION, WITH A TAX EXAMINATION BEING PRESUMED TO OCCUR. THE AMOUNT RECOGNIZED IS THE LARGEST AMOUNT OF TAX BENEFIT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED ON EXAMINATION. FOR TAX POSITIONS NOT MEETING THE "MORE LIKELY THAN NOT" TEST, NO TAX BENEFIT IS RECORDED. THE ORGANIZATION HAS NO MATERIAL UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. AS OF DECEMBER 31, 2021, THE ORGANIZATION HAS ACCRUED NO INTEREST AND NO PENALTIES RELATED TO UNCERTAIN TAX POSITIONS. IT IS THE ORGANIZATION'S POLICY TO RECOGNIZE INTEREST AND/OR PENALTIES RELATED TO INCOME TAX MATTERS IN INCOME TAX EXPENSE. THE ORGANIZATION FILES A U.S. FEDERAL INFORMATION TAX RETURN ANNUALLY.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 IS REVIEWED BY THE FINANCIAL COMMITTEE. FORM 990 IS THEN PRESENTED TO THE BOARD OF DIRECTORS BY THE TREASURER FOR APPROVAL. ONCE THE FORM 990 IS APPROVED BY THE BOARD OF DIRECTORS, IT IS FILED WITH THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FLC PROPERTIES FOUNDATION REQUIRES EACH BOARD MEMBER AND EMPLOYEE TO SIGN A CONFLICT OF INTEREST STATEMENT WHICH INCLUDES A REQUIREMENT TO CONTINUOUSLY REVIEW ACTIVITIES AND REPORT ANY MATTER THAT MAY RISE TO THE LEVEL OF A CONFLICT OF INTEREST. ANY BOARD MEMBER INVOLVED IN A TRANSACTION WHICH COULD BE CONSTRUED AS A CONFLICT OF INTEREST TRANSACTION IS PROHIBITED FROM PARTICIPATING IN THE DISCUSSION OF AND VOTING ON THAT TRANSACTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2LINE 15A - COMPENSATION PROCESS FOR TOP OFFICIAL THE COMPENSATION COMMITTEE MEETS ON AN ANNUAL BASIS TO REVIEW COMPARABILITY DATA AND WORK PRODUCT OF EACH EMPLOYEE. THE PRESIDENT CONDUCTS AN ANNUAL REVIEW OF THE EXECUTIVE DIRECTOR AFTER A CONFERENCE WITH THE COMPENSATION COMMITTEE. THE COMPENSATION COMMITTEE MAKES A RECOMMENDATION TO THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3UPON REQUEST THE GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4TRANSFER OF PROPERTY FROM FOOTHILLS LAND CONSERVANCY 292,900. ROUNDING 1.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE FINANCE COMMITTEE OVERSIGHTS THE AUDIT.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15A
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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IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0ACQUISITION OF LAND AND CONSERVATION EASEMENTS FOR NATURAL PRESERVATION.
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Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,333,037
Liabilities
$0
Net assets
$5,333,037
Revenue
$4,448,063
Expenses
$19,252
Net income
$4,428,811
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.80$0.00$5.80$0.54$0.96$0.42
2023Detailed filing. Detailed filing data is available for this year.$6.29$0.00$6.29$0.70$0.30$0.40
2022Detailed filing. Detailed filing data is available for this year.$9.21$0.00$9.21$1.55$0.11$1.43
2021Detailed filing. Detailed filing data is available for this year.$5.33$0.00$5.33$4.45$0.02$4.43
2020Detailed filing. Detailed filing data is available for this year.$0.60$0.00$0.60$0.38$1.29$1.67
2019Detailed filing. Detailed filing data is available for this year.$1.79$0.00$1.79$0.00$1.66$1.66
2018Detailed filing. Detailed filing data is available for this year.$0.93$0.00$0.93$0.47$0.00$0.47
2017Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.00$0.00$0.00
2016Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00