Civic Intelligence

Elevated Thought Foundation Inc Lester Sydney-Treasurer

990 • Fiscal year 2021 • EIN 27-3519031

Jan 01, 2021 to Dec 31, 2021 • Filed on May 07, 2024

Organization ProfileELEVATEDTHOUGHT.ORG
15 Union StLawrence, MA 01841

(978) 420-7920

Siviq Scores

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

Liabilities / Assets

83rd percentile

0.49x

Higher debt load relative to assets than 83% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

80th percentile

0.52x

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

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

71st percentile

27%

Higher net margin than 71% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

72nd percentile

$105,750

Higher top officer pay than 72% of similar nonprofits.

Top officer pay equals 10.4% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

97th percentile

188%

Faster asset growth than 97% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

81st percentile

64%

Faster revenue growth than 81% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets83rd percentile

Assets

Up

$1,075,802

Up $701,720 (+188%) from 2020

Net Assets

Up

$551,990

Up $219,315 (+66%) from 2020

Liabilities

Up

$523,812

Up $482,405 (+1165%) from 2020

Revenue And Expenses
Liabilities / Revenue80th percentileNet Margin71st percentile

Revenue

Up

$1,012,461

Up $395,862 (+64%) from 2020

Expenses

Up

$739,542

Up $414,412 (+127%) from 2020

Net Income

Down

$272,919

Down $18,550 (-6.4%) from 2020

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

2021

Assets$1,075,802
Liabilities$523,812
Net Assets$551,990
Open 2021 Filing

Operations Trend

Revenue Growth81st 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

2021

Revenue$1,012,461
Expenses$739,542
Net Income$272,919
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
May 7, 2024
Return Version
2021v4.1
Gross Receipts
$1,012,461
Mission and Program Overview

Mission

Provide educational scholarship

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

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$288,218$1,030,992▲ $742,774
Accounts Receivable$48,763--
Land, Buildings, and Equipment, Net$37,101$44,810▲ $7,709
Total Assets$374,082$1,075,802▲ $701,720
Liabilities
Unsecured Notes Loans Payable$40,955$518,002▲ $477,047
Other Liabilities$435$5,810▲ $5,375
Accounts Payable and Accrued Expenses$17--
Total Liabilities$41,407$523,812▲ $482,405
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$332,675$551,990▲ $219,315
Total Net Assets Fund Balance$332,675$551,990▲ $219,315
Total Liabilities and Net Assets / Fund Balance$374,082$1,075,802▲ $701,720

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$50,877-$50,877
Leasehold Improvements$11,816-$11,816
Compensation and Service Providers
Top Officer Pay72nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Marquiz VictorExecutive DirectorFT$105,750$105,750

Board Members and Trustees

NameTitle
Jessica VilasBoard Chair
Corina CornejoVice Chair
Anil DacostaDirector
Lorie MendozaDirector
Mona IgramDirector
Walki ManzuetaDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$1,008,408
Program Service Revenue
$2,038
Investment Income
$0
Other Revenue
$2,015
All Other Contributions
$998,408
Change in Net Assets
$272,919
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$390,060
Other Expenses$337,832
Professional Fundraising Fees$7,900
Total Fundraising Expense$7,900
Grants and Similar Amounts Paid$3,750

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$242,467-$242,467
Current Officers, Directors, Trustees, and Key Employees-$105,750-$105,750
Occupancy-$57,033-$57,033
Payroll Taxes-$33,730-$33,730
All Other Expenses-$20,624-$20,624
Depreciation Depletion-$17,254-$17,254
Other Expenses$14,885$12,490-$12,490
Fees for Services Other-$10,022-$10,022
Other Employee Benefits-$8,113-$8,113
Fees for Services Professional Fundraising--$7,900$7,900
Office Expenses-$4,617-$4,617
Fees for Services Accounting-$4,200-$4,200
Information Technology$120$3,844-$3,964
Grants to Domestic Orgs$3,750--$3,750
Insurance-$3,042-$3,042
Travel-$3,019-$3,019
Advertising$470$1,980-$2,450
Interest-$198-$198
Total Functional Expenses$35,282$696,360$7,900$739,542
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$7,900
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Chase Credit Card Debt$5,810
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
No
Audit committee
No
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
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
Filing and Contact Details

Filer

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

Signing Officer

Name
Marquis Victor
Title
Executive Director
Phone
9784207920
Signed
2024-05-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Marquis Victor
Formed
2010
Legal Domicile
Ma
Voting Board Members
7
Independent Board Members
6
Employees
12

Preparer

Firm
Jacqueline Business Services
Address
100 SO BROADWAY, LAWRENCE, MA 01843
Preparer
Dario Pena
Phone
9786898690
Supplemental Narrative

Additional Explanations

Part IX Line 24E

“Subcontrctors & commissions=$184,034, professional fees= $8,328, supplies & shipping=$15,230, bank fees=$284, meals= $2,024, recruiting & stipends=$14,107, state & local taxes= $462, storage-$1,213, dues-$3,174”

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0SUBCONTRCTORS & COMMISSIONS=$184,034, PROFESSIONAL FEES= $8,328, SUPPLIES & SHIPPING=$15,230, BANK FEES=$284, MEALS= $2,024, RECRUITING & STIPENDS=$14,107, STATE & LOCAL TAXES= $462, STORAGE-$1,213, DUES-$3,174
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0PART IX LINE 24E
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt035282
IRS990/TotalFunctionalExpensesGrp/TotalAmt0739542
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IRS990/TotalProgramServiceExpensesAmt032723
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01075802
IRS990/TravelGrp/ManagementAndGeneralAmt03019
IRS990/TravelGrp/TotalAmt03019
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt040955
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0518002
IRS990/UponRequestInd0X
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IRS990/USAddress/CityNm0TEWKSBURY
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IRS990/USAddress/ZIPCd001876
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt06
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MARQUIS VICTOR
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum09784207920
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ELEVATED THOUGHT INC
ReturnHeader/Filer/BusinessNameControlTxt0ELEV
ReturnHeader/Filer/EIN0273519031
ReturnHeader/Filer/USAddress/AddressLine1Txt015 UNION ST
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ReturnHeader/Filer/USAddress/StateAbbreviationCd0MA
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0202783884
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0JACQUELINE BUSINESS SERVICES
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0100 SO BROADWAY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LAWRENCE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd001843
ReturnHeader/PreparerPersonGrp/PhoneNum09786898690
ReturnHeader/PreparerPersonGrp/PreparationDt02024-05-07
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DARIO PENA
ReturnHeader/ReturnTs02024-07-11T12:07:50-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0MARQUIS
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0VICTOR
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$1,075,802
Liabilities
$523,812
Net assets
$551,990
Revenue
$1,012,461
Expenses
$739,542
Net income
$272,919
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