Civic Intelligence

Elevated Thought Foundation Inc Lester Sydney-Treasurer

990 • Fiscal year 2022 • EIN 27-3519031

Jan 01, 2022 to Dec 31, 2022 • Filed on Sep 11, 2023

Organization ProfileWWW.ELEVATEDTHOUGHT.ORG
15 Union StreetLawrence, MA 01841

(978) 420-7920

Siviq Scores

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

Liabilities / Assets

74th percentile

0.28x

Higher debt load relative to assets than 74% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

72nd percentile

0.29x

Higher debt load relative to revenue than 72% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

90th percentile

53%

Higher net margin than 90% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

71st percentile

$104,615

Higher top officer pay than 71% of similar nonprofits.

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

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

97th percentile

202%

Faster asset growth than 97% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

96th percentile

220%

Faster revenue growth than 96% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets74th percentile

Assets

Up

$3,243,932

Up $2,168,130 (+202%) from 2021

Net Assets

Up

$2,320,360

Up $1,768,370 (+320%) from 2021

Liabilities

Up

$923,572

Up $399,760 (+76%) from 2021

Revenue And Expenses
Liabilities / Revenue72nd percentileNet Margin90th percentile

Revenue

Up

$3,235,330

Up $2,222,869 (+220%) from 2021

Expenses

Up

$1,517,332

Up $777,790 (+105%) from 2021

Net Income

Up

$1,717,998

Up $1,445,079 (+529%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth97th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MAssets 2010: $584Liabilities 2010: $280Net Assets 2010: $3042010Assets 2011: $689Net Assets 2011: $6892011Assets 2012: $13Liabilities 2012: $57Net Assets 2012: -$442012Assets 2013: $1,493Liabilities 2013: $306Net Assets 2013: $1,1872013Assets 2014: $11,729Liabilities 2014: $1,620Net Assets 2014: $10,1092014Assets 2015: $34,199Liabilities 2015: $496Net Assets 2015: $176,8672015Assets 2019: $49,940Liabilities 2019: $9,992Net Assets 2019: $39,9482019Assets 2020: $374,082Liabilities 2020: $41,407Net Assets 2020: $332,6752020Assets 2021: $1,075,802Liabilities 2021: $523,812Net Assets 2021: $551,9902021Assets 2022: $3,243,932Liabilities 2022: $923,572Net Assets 2022: $2,320,3602022Assets 2023: $5,213,399Liabilities 2023: $3,827,914Net Assets 2023: $1,385,4852023Assets 2024: $5,022,746Liabilities 2024: $3,996,407Net Assets 2024: $1,026,3392024

Highlighted filing

2022

Assets$3,243,932
Liabilities$923,572
Net Assets$2,320,360
Open 2022 Filing

Operations Trend

Revenue Growth96th percentile

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

$4.0M$2.0M$0-$2.0MRevenue 2010: $1,679Expenses 2010: $1,375Net Income 2010: $3042010Revenue 2011: $1,088Expenses 2011: $703Net Income 2011: $3852011Revenue 2014: $33,0072014Revenue 2015: $166,7582015Revenue 2019: $385,412Expenses 2019: $411,013Net Income 2019: -$25,6012019Revenue 2020: $616,599Expenses 2020: $325,130Net Income 2020: $291,4692020Revenue 2021: $1,012,461Expenses 2021: $739,542Net Income 2021: $272,9192021Revenue 2022: $3,235,330Expenses 2022: $1,517,332Net Income 2022: $1,717,9982022Revenue 2023: $1,378,207Expenses 2023: $2,313,085Net Income 2023: -$934,8782023Revenue 2024: $2,256,495Expenses 2024: $2,566,226Net Income 2024: -$309,7312024

Highlighted filing

2022

Revenue$3,235,330
Expenses$1,517,332
Net Income$1,717,998
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Sep 11, 2023
Return Version
2022v5.0
Gross Receipts
$3,235,330
Mission and Program Overview

Mission

Provide educational scholarship

Art & social justice organization using art to empower youth, launch beautification projects, youth organizing and public outreach

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable-$2,015,000-
Cash and Non-Interest-Bearing Accounts$1,030,992$513,211▼ $517,781
Land, Buildings, and Equipment, Net$44,810$305,774▲ $260,964
Prepaid Expenses and Deferred Charges-$90,010-
Accounts Receivable-$11,150-
Total Assets$1,075,802$3,243,932▲ $2,168,130
Other Assets Total-$308,787-
Liabilities
Mortgage Notes Payable Secured by Investment Property$484,900$810,348▲ $325,448
Accounts Payable and Accrued Expenses-$113,224-
Unsecured Notes Loans Payable$33,102--
Other Liabilities$5,810--
Total Liabilities$523,812$923,572▲ $399,760
Net Assets / Fund Balance
Net Assets With Donor Restrictions-$2,000,000-
Net Assets Without Donor Restrictions$551,990$320,360▼ $231,630
Total Net Assets Fund Balance$551,990$2,320,360▲ $1,768,370
Total Liabilities and Net Assets / Fund Balance$1,075,802$3,243,932▲ $2,168,130

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$248,055-$248,055
Equipment$61,476-$61,476
Other Land Buildings$38,965-$38,965
Other Assets Org$308,787--
Compensation and Service Providers
Top Officer Pay71st percentile

Employees

NameTitleFull / Part TimeBaseTotal
Marquis VictorExecutive DiFT$104,615$104,615

Board Members and Trustees

NameTitle
Lorie MendozaBoard Chair
Anil DacostaDirector
Corina CornejoDirector
Francellis QuinonesDirector
Mona IgramDirector
Debra FoxTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,622,916
Program Service Revenue
$612,414
Investment Income
$0
Other Revenue
$0
All Other Contributions
$2,003,621
Change in Net Assets
$1,717,998

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,235,330
Total Revenue per Audited Statements
$3,235,330
Total Revenue per Form 990
$3,235,330
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$887,010
Other Expenses$630,322
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$562,457$140,614-$703,071
Current Officers, Directors, Trustees, and Key Employees$83,692$20,923-$104,615
Fees for Services Other$66,256$2,735-$68,991
Payroll Taxes$49,430$9,623-$59,053
Office Expenses$5,266$44,883-$50,149
Occupancy-$39,420-$39,420
Interest-$29,764-$29,764
All Other Expenses$7,870$21,013-$28,883
Other Employee Benefits$16,217$4,054-$20,271
Depreciation Depletion-$15,742-$15,742
Travel$10,443$4,556-$14,999
Other Expenses$37,764$9,221-$9,221
Advertising$5,815--$5,815
Insurance-$3,071-$3,071
Total Functional Expenses$1,150,227$367,105$0$1,517,332

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,517,332
Total Expenses per Audited Statements$1,517,332
Total Expenses per Form 990$1,517,332
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
Backup withholding compliance
No
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“Board chair, treasurer and executive director review with board prior to vote on accepting return.”

Form 990, Page 6, Part VI, Line 12C

“Board members are required to disclose conflicts and annually review policy with current and new board members”

Form 990, Page 6, Part VI, Line 15A

“Board reviews comparable data on salaries”

Form 990, Page 6, Part VI, Line 19

“Governing documents made available after request is approved and nda is obtained”

Filing and Contact Details

Filer

Filer Name
Elevated Thought Inc
EIN
27-3519031
Phone
9784207920
Address
15 UNION STREET, LAWRENCE, MA 01841

Signing Officer

Name
Marquis Victor
Title
Executive Director
Phone
9784207920
Signed
2023-09-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Marquis Victor
Formed
2010
Legal Domicile
Ma
Voting Board Members
6
Independent Board Members
6
Employees
46
Volunteers
7

Preparer

Firm
Penchansky & Coii Pllc
Address
70 STARK ST, MANCHESTER, NH 03101
Preparer
Adam M Lord CPA
Phone
6036472400
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“An art & social justice organization that serves & develops communities through youth empowerment curriculum, beautification projects, youth organization, and public outreach. Provide opportunities for youths & communities to expand understanding of art.”

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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD CHAIR, TREASURER AND EXECUTIVE DIRECTOR REVIEW WITH BOARD PRIOR TO VOTE ON ACCEPTING RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BOARD MEMBERS ARE REQUIRED TO DISCLOSE CONFLICTS AND ANNUALLY REVIEW POLICY WITH CURRENT AND NEW BOARD MEMBERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BOARD REVIEWS COMPARABLE DATA ON SALARIES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS MADE AVAILABLE AFTER REQUEST IS APPROVED AND NDA IS OBTAINED
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ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,243,932
Liabilities
$923,572
Net assets
$2,320,360
Revenue
$3,235,330
Expenses
$1,517,332
Net income
$1,717,998
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.02$4.00$1.03$2.26$2.57$0.31
2023Detailed filing. Detailed filing data is available for this year.$5.21$3.83$1.39$1.38$2.31$0.93
2022Detailed filing. Detailed filing data is available for this year.$3.24$0.92$2.32$3.24$1.52$1.72
2021Detailed filing. Detailed filing data is available for this year.$1.08$0.52$0.55$1.01$0.74$0.27
2020Detailed filing. Detailed filing data is available for this year.$0.37$0.04$0.33$0.62$0.33$0.29
2019Detailed filing. Detailed filing data is available for this year.$0.05$0.01$0.04$0.39$0.41$0.03
2015Detailed filing. Detailed filing data is available for this year.$0.03$0.00$0.18$0.17
2014Detailed filing. Detailed filing data is available for this year.$0.01$0.00$0.01$0.03
2013Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.00$0.00$0.00
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.00$0.00$0.00$0.00$0.00
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.00$0.00$0.00$0.00$0.00$0.00