Civic Intelligence

Neuroscience Centers of Florida Foundation Inc.

990 • Fiscal year 2016 • EIN 27-2199258

Jul 01, 2015 to Jun 30, 2016 • Filed on Jan 31, 2017

2150 Coral Way 8th FloorMiami, FL 33145

(305) 856-8940

Siviq Scores

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

Liabilities / Assets

68th percentile

0.28x

Higher debt load relative to assets than 68% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

80th percentile

0.63x

Higher debt load relative to revenue than 80% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

30th percentile

-4.5%

Higher net margin than 30% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

69th percentile

$100,000

Higher top officer pay than 69% of similar nonprofits.

Top officer pay equals 6.5% of source-year revenue.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

67th percentile

7.3%

Faster asset growth than 67% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

72nd percentile

15%

Faster revenue growth than 72% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Assets

Up

$3,379,708

Up $230,618 (+7.3%) from 2015

Net Assets

Down

$2,416,841

Down $68,899 (-2.8%) from 2015

Liabilities

Up

$962,867

Up $299,517 (+45%) from 2015

Revenue

Up

$1,528,917

Up $200,580 (+15%) from 2015

Expenses

Up

$1,598,213

Up $239,374 (+18%) from 2015

Net Income

Down

-$69,296

Down $38,794 (-127%) from 2015

Historical Trend

Balance Sheet Trend

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2012: $3,034,280Liabilities 2012: $2,417,864Net Assets 2012: $616,4162012Assets 2013: $2,686,024Liabilities 2013: $67,167Net Assets 2013: $2,618,8572013Assets 2014: $2,768,499Liabilities 2014: $252,257Net Assets 2014: $2,516,2422014Assets 2015: $3,149,090Liabilities 2015: $663,350Net Assets 2015: $2,485,7402015Assets 2016: $3,379,708Liabilities 2016: $962,867Net Assets 2016: $2,416,8412016Assets 2018: $2,445,986Liabilities 2018: $635,204Net Assets 2018: $1,810,7822018Assets 2019: $1,870,234Liabilities 2019: $286,844Net Assets 2019: $1,583,3902019Assets 2020: $2,614,272Liabilities 2020: $352,808Net Assets 2020: $2,261,4642020Assets 2021: $2,367,645Liabilities 2021: $274,945Net Assets 2021: $2,092,7002021Assets 2022: $2,172,551Liabilities 2022: $56,003Net Assets 2022: $2,116,5482022

Highlighted filing

2016

Assets$3,379,708
Liabilities$962,867
Net Assets$2,416,841

Operations Trend

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MExpenses 2012: $447,9002012Expenses 2013: $604,0822013Revenue 2014: $976,865Expenses 2014: $1,079,480Net Income 2014: -$102,6152014Revenue 2015: $1,328,337Expenses 2015: $1,358,839Net Income 2015: -$30,5022015Revenue 2016: $1,528,917Expenses 2016: $1,598,213Net Income 2016: -$69,2962016Revenue 2018: $2,361,426Expenses 2018: $2,215,529Net Income 2018: $145,8972018Revenue 2019: $2,300,267Expenses 2019: $2,527,659Net Income 2019: -$227,3922019Revenue 2020: $3,096,481Expenses 2020: $2,418,407Net Income 2020: $678,0742020Revenue 2021: $3,116,160Expenses 2021: $2,069,924Net Income 2021: $1,046,2362021Revenue 2022: $2,159,118Expenses 2022: $2,135,270Net Income 2022: $23,8482022

Highlighted filing

2016

Revenue$1,528,917
Expenses$1,598,213
Net Income-$69,296
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Jan 31, 2017
Return Version
2015v3.0
Gross Receipts
$1,528,917
Mission and Program Overview

Mission

The foundation's mission is to provide a continuum of neurological care to patients, keeping them at work, at home, and out of the hospital. The foundation is also providing educational programs and community outreach for patients, their families, and caregivers.

The foundation's mission is to provide a continuum of neurological care to patients, keeping them at work, at home, and out of the hospital.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,469,138$2,097,244▲ $628,106
Land, Buildings, and Equipment, Net$1,563,974$1,214,306▼ $349,668
Accounts Receivable$23,620$28,181▲ $4,561
Loans From Officers Directors$11,806$11,805▼ $1
Cash and Non-Interest-Bearing Accounts$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$3,149,090$3,379,708▲ $230,618
Other Assets Total$92,358$39,977▼ $52,381
Liabilities
Deferred Revenue$538,810$855,667▲ $316,857
Accounts Payable and Accrued Expenses$69,604$68,181▼ $1,423
Other Liabilities$43,130$27,214▼ $15,916
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$663,350$962,867▲ $299,517
Net Assets / Fund Balance
Unrestricted Net Assets$2,485,740$2,416,841▼ $68,899
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$2,485,740$2,416,841▼ $68,899
Total Liabilities and Net Assets / Fund Balance$3,149,090$3,379,708▲ $230,618

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,200,127$1,330,918$2,531,045
Other Land Buildings$14,179$33,085$47,264
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Jeffrey L HorstmyerChairman & CEOPT$100,000$100,000

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
GE HealthcareMRI Maintenance-$157,982
Revenue and Support

Revenue Composition

Contributions and Grants
$1,085,602
Program Service Revenue
$442,477
Investment Income
$768
Other Revenue
$70
All Other Contributions
$73,681
Change in Net Assets
$-69,296
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,140,837
Salaries, Compensation, and Employee Benefits$457,376
Total Fundraising Expense$117,923
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$253,273$106,967$22,313$382,553
Depreciation Depletion$372,107--$372,107
Other Salaries and Wages$256,127$68,884$32,365$357,376
Fees for Services Other$68,925$39,290$60,000$168,215
Current Officers, Directors, Trustees, and Key Employees$100,000--$100,000
Travel$20,184-$3,245$23,429
Insurance$9,587$10,893-$20,480
Other Expenses$6,600$2,036-$6,600
Office Expenses$154$6,103-$6,257
Total Functional Expenses$1,246,102$234,188$117,923$1,598,213
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
Loans from Officers, Directors, Trustees, and Key Employees$11,806$11,805▼ $1
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Property Tax Payable$24,161
Payroll Liabilities - Leased E$3,053
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 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
Filing and Contact Details

Filer

Filer Name
Neuroscience Centers of Florida Foundation I
EIN
27-2199258
In Care Of
% JEFFREY HORSTMYER MD
Phone
3058568940
Address
2150 CORAL WAY 8TH FLOOR, MIAMI, FL 33145

Signing Officer

Name
Jeffrey Horstmyer Md
Title
Officer
Phone
3058568940
Signed
2017-01-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeffrey Horstmyer Md
Formed
2010
Legal Domicile
Fl
Voting Board Members
9
Independent Board Members
8
Employees
8
Volunteers
2

Preparer

Firm
Marcum Llp
Address
ONE SE THIRD AVENUE SUITE 1100, MIAMI, FL 33131
Preparer
Ana Cunill
Phone
3059959600
Supplemental Narrative

Additional Explanations

Review of Form 990

The 990 is submited to the officers for review and comments before the final form is approved for distributions.

Governing Documents Disclosure

The documents are available for inspection upon request at the office of the organization.

Conflict of Interest

Each director, principal officer, key employee and member of a committe with governing board delegated powers shall anually sign a statement which affirms such person: has recieved a copy of the conflict of interest policy has read and understands the policy has agreed to comply with the policy and, understands the organization is charitable and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purpose.

Compensation

Dr. Horstmyer is now acting as the interim ceo and receives compensation through a consulting agreement for his service. The organization does not compensate any other directors or officers and does not have any key employees.

Form 990 Part IX Line 11G

Description:professional fees total fees:168215

Form 990 Part IX Line 24 - Other Expenses

Description:other expenses total expenses:3916 program services:3601 management and general:315

Form 990 Part IX Line 24 - Other Expenses

Description:postage & shipping total expenses:339 management and general:339

Form 990 Part IX Line 24 - Other Expenses

Description:consulting total expenses:103360 program services:98360 management and general:5000

Form 990 Part IX Line 24 - Other Expenses

Description:hit infrastructure total expenses:59005 program services:58588 management and general:417

Form 990 Part IX Line 24 - Other Expenses

Description:patient materials total expenses:5806 program services:5806

Form 990 Part IX Line 24 - Other Expenses

Description:property tax total expenses:24161 program services:24161

Form 990 Part IX Line 24 - Other Expenses

Description:rent total expenses:48000 management and general:48000

Form 990 Part IX Line 24 - Other Expenses

Description:sponsorships and donations total expenses:32313 management and general:10000 fundraising:22313

Form 990 Part IX Line 24 - Other Expenses

Description:telephone, interent, website total expenses:42896 management and general:42896

Form 990 Part IX Line 24 - Other Expenses

Description:telehealth total expenses:3922 program services:3922

Form 990 Part IX Line 24 - Other Expenses

Description:patient education programs total expenses:58835 program services:58835

Financial Statement Notes

Uncertain Tax Position

The Organization accounts for uncertainty in income taxes in accordance with GAAP, which requires recognition in the consolidated financial statements of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more likely than not threshold, the amount recognized in the consolidated financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. The Organization had no material unrecognized tax benefits and no adjustments to its consolidated financial position, activities or cash flows were required. The Organization does not expect that unrecognized tax benefits will increase within the next twelve months. MDSC, MS Center's and Neuroscience's tax returns for the years ended June 30, 2010 through June 30, 2013 remain subject to examination by federal and state tax jurisdictions. The Organization recognizes accrued interest and penalties, if any, related to uncertain tax positions as income tax expense.

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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/OtherLiabilitiesOrgGrp/Desc0PAYROLL LIABILITIES - LEASED E
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Organization accounts for uncertainty in income taxes in accordance with GAAP, which requires recognition in the consolidated financial statements of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more likely than not threshold, the amount recognized in the consolidated financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. The Organization had no material unrecognized tax benefits and no adjustments to its consolidated financial position, activities or cash flows were required. The Organization does not expect that unrecognized tax benefits will increase within the next twelve months. MDSC, MS Center's and Neuroscience's tax returns for the years ended June 30, 2010 through June 30, 2013 remain subject to examination by federal and state tax jurisdictions. The Organization recognizes accrued interest and penalties, if any, related to uncertain tax positions as income tax expense.

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