Civic Intelligence

Spectrum Designs Foundation Ltd.

990 • Fiscal year 2015 • EIN 27-5020830

Jan 01, 2015 to Dec 31, 2015 • Filed on Aug 11, 2016

382 Main StreetPort Washington, NY 11050

(516) 767-7177

Siviq Scores

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

Liabilities / Assets

63rd percentile

0.21x

Higher debt load relative to assets than 63% of similar nonprofits.

2015 filings • NTEE J • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

80th percentile

0.24x

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

2015 filings • NTEE J • $1M-$5M nonprofits • Source year 2015

Net Margin

93rd percentile

47%

Higher net margin than 93% of similar nonprofits.

2015 filings • NTEE J • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

28th percentile

$58,193

Higher top officer pay than 28% of similar nonprofits.

Top officer pay equals 12.5% of source-year revenue.

2015 filings • NTEE J • $1M-$5M nonprofits • Source year 2015

Asset Growth

92nd percentile

35%

Faster asset growth than 92% of similar nonprofits.

2015 filings • NTEE J • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

26th percentile

-2.3%

Faster revenue growth than 26% of similar nonprofits.

2015 filings • NTEE J • $1M-$5M nonprofits • Annualized from 2014 to 2015

Assets

Up

$532,629

Up $136,978 (+35%) from 2014

Net Assets

Up

$421,308

Up $218,559 (+108%) from 2014

Liabilities

Down

$111,321

Down $81,581 (-42%) from 2014

Revenue

Down

$466,330

Down $11,089 (-2.3%) from 2014

Expenses

Down

$247,047

Down $37,913 (-13%) from 2014

Net Income

Up

$219,283

Up $26,824 (+14%) from 2014

Historical Trend

Balance Sheet Trend

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MAssets 2012: $188,270Liabilities 2012: $228,538Net Assets 2012: -$40,2682012Assets 2013: $207,724Liabilities 2013: $197,433Net Assets 2013: $10,2912013Assets 2014: $395,651Liabilities 2014: $192,902Net Assets 2014: $202,7492014Assets 2015: $532,629Liabilities 2015: $111,321Net Assets 2015: $421,3082015Assets 2016: $1,165,522Liabilities 2016: $66,783Net Assets 2016: $1,098,7392016Assets 2017: $3,076,433Liabilities 2017: $1,325,821Net Assets 2017: $1,750,6122017Assets 2018: $3,211,061Liabilities 2018: $1,326,366Net Assets 2018: $1,884,6952018Assets 2019: $3,885,509Liabilities 2019: $1,187,301Net Assets 2019: $2,698,2082019Assets 2020: $4,596,822Liabilities 2020: $1,779,537Net Assets 2020: $2,817,2852020Assets 2021: $6,618,337Liabilities 2021: $2,165,759Net Assets 2021: $4,452,5782021Assets 2024: $6,498,852Liabilities 2024: $1,912,560Net Assets 2024: $4,586,2922024

Highlighted filing

2015

Assets$532,629
Liabilities$111,321
Net Assets$421,308

Operations Trend

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

$8.0M$6.0M$4.0M$2.0M$0Expenses 2012: $109,2262012Revenue 2013: $295,385Expenses 2013: $244,826Net Income 2013: $50,5592013Revenue 2014: $477,419Expenses 2014: $284,960Net Income 2014: $192,4592014Revenue 2015: $466,330Expenses 2015: $247,047Net Income 2015: $219,2832015Revenue 2016: $1,034,578Expenses 2016: $359,371Net Income 2016: $675,2072016Revenue 2017: $1,235,120Expenses 2017: $587,114Net Income 2017: $648,0062017Revenue 2018: $2,835,249Expenses 2018: $2,701,940Net Income 2018: $133,3092018Revenue 2019: $4,174,176Expenses 2019: $3,363,571Net Income 2019: $810,6052019Revenue 2020: $4,902,503Expenses 2020: $4,784,232Net Income 2020: $118,2712020Revenue 2021: $6,742,089Expenses 2021: $5,118,731Net Income 2021: $1,623,3582021Revenue 2024: $7,464,700Expenses 2024: $7,390,088Net Income 2024: $74,6122024

Highlighted filing

2015

Revenue$466,330
Expenses$247,047
Net Income$219,283
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Aug 11, 2016
Return Version
2015v2.0
Gross Receipts
$1,297,758
Mission and Program Overview

Mission

To provide employment and vocational opportunities for individuals with autism, by operating a customized apparel printing company with appropriate supports, assisting those with autism in leading fuller more productive lives through the world of work.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$128,219$260,825▲ $132,606
Land, Buildings, and Equipment, Net$133,398$150,749▲ $17,351
Loans From Officers Directors$169,691$80,446▼ $89,245
Other Notes and Loans Receivable, Net-$54,018-
Accounts Receivable$119,020$43,570▼ $75,450
Savings and Temporary Cash Investments-$9,903-
Prepaid Expenses and Deferred Charges$6,585$8,185▲ $1,600
Inventories for Sale or Use$6,250$3,200▼ $3,050
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-
Total Assets$395,651$532,629▲ $136,978
Other Assets Total$2,179$2,179→ $0
Liabilities
Accounts Payable and Accrued Expenses$23,211$30,875▲ $7,664
Total Liabilities$192,902$111,321▼ $81,581
Net Assets / Fund Balance
Unrestricted Net Assets$202,749$421,308▲ $218,559
Total Net Assets Fund Balance$202,749$421,308▲ $218,559
Total Liabilities and Net Assets / Fund Balance$395,651$532,629▲ $136,978

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$88,258$79,022$167,280
Leasehold Improvements$55,890$6,340$62,230
Other Land Buildings$6,601$4,520$11,121
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Patrick BardsleyVice PresidentFT$58,193$58,193
Nicole SugrueSecretaryPT$22,026$22,026

Board Members and Trustees

NameTitle
Stella SpanakosPresident
Revenue and Support

Revenue Composition

Contributions and Grants
$58,941
Program Service Revenue
$0
Investment Income
$124
Other Revenue
$407,265
All Other Contributions
$50,670
Change in Net Assets
$219,283
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$148,884
Salaries, Compensation, and Employee Benefits$98,163
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$49,205$8,987-$58,192
Other Salaries and Wages$31,679--$31,679
Occupancy$28,302$3,145-$31,447
Depreciation Depletion-$29,799-$29,799
Insurance$11,327$1,259-$12,586
Payroll Taxes$7,463$829-$8,292
Advertising$6,587--$6,587
Other Expenses$3,740$416-$4,156
Information Technology$4,037--$4,037
All Other Expenses$3,369$498-$3,867
Office Expenses$2,747$380-$3,127
Conferences and Meetings$2,775$308-$3,083
Travel$1,482$165-$1,647
Total Functional Expenses$197,854$49,193$0$247,047
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$402,180
Fundraising Direct Expenses$122,933
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Awareness Events$402,180$402,180$122,933$279,247
Total Events$402,180$402,180$122,933$279,247
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$169,691$80,446▼ $89,245
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
Audit committee
Yes
Backup withholding compliance
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
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 2: Description of Business or Family Relationship of Officers, Directors, Et

Stella spanakos, president, made loan to spectrum designs for organization and start-up expenses.

Form 990, Part VI, Line 11B: Form 990 Review Process

Board of directors received a draft copy of tax return. The board then approved the return which was to be filed.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

The purpose of the conflict of interest policy is to protect Spectrum Designs Foundation interest when it is contemplating entering into a transaction or arrangement that might benefit the private interest of an officer or director of the Organization or might result in a possible excess benefit transaction. This policy is intended to supplement but not replace any applicable state and federal laws governing conflicts of interest applicable to nonprofit and charitable organizations.

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

Compensation and review is made by the Board of Directors.

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

Review is made by approval of the Board of Directors.

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

Upon Request

Filing and Contact Details

Filer

Filer Name
Spectrum Designs Foundation Ltd
EIN
27-5020830
Phone
5167677177
Address
382 MAIN STREET, PORT WASHINGTON, NY 11050

Signing Officer

Name
Stella Spanakos
Title
President
Signed
2016-08-11
Discuss with paid preparer
Yes

Organization Details

Formed
2011
Legal Domicile
Ny
Voting Board Members
3
Independent Board Members
3
Employees
25

Preparer

Firm
Melzer & Associates CPAs PC
Address
505 Eighth Ave Ste 701, New York, NY 10018
Preparer
Lawrence S Melzer
Phone
2128684244
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0466206
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt069258
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt071410
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt052750
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt010663
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0670287
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0124
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt023
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt06
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0153
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.99980
IRS990ScheduleA/PublicSupportTotal170Amt0670287
IRS990ScheduleA/SubstantialContributorsTotAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0466206
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt069258
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt071410
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt052750
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt010663
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0670287
IRS990ScheduleA/TotalSupportAmt0670440
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/EquipmentGrp/BookValueAmt088258
IRS990ScheduleD/EquipmentGrp/DepreciationAmt079022
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0167280
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt055890
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt06340
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt062230
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt06601
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt04520
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt011121
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0150749
IRS990ScheduleG/AgrmtProfFundraisingActyInd0false
IRS990ScheduleG/EmailSolicitationsInd0X
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt0122933
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0AWARENESS EVENTS
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt0402180
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt0402180
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt0402180
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt0402180
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt0279247
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt0122933
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt0122933
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IRS990ScheduleG/MailSolicitationsInd0X
IRS990ScheduleG/SolicitationOfGovtGrantsInd0X
IRS990ScheduleG/SolicitationOfNonGovtGrantsInd0X
IRS990ScheduleG/SpecialFundraisingEventsInd0X
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt080446
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd0true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0START-UP
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt0126651
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0STELLA SPANAKOS
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0DIRECTOR
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IRS990ScheduleL/TotalBalanceDueAmt080446
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0STELLA SPANAKOS, PRESIDENT, MADE LOAN TO SPECTRUM DESIGNS FOR ORGANIZATION AND START-UP EXPENSES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD OF DIRECTORS RECEIVED A DRAFT COPY OF TAX RETURN. THE BOARD THEN APPROVED THE RETURN WHICH WAS TO BE FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The purpose of the conflict of interest policy is to protect Spectrum Designs Foundation interest when it is contemplating entering into a transaction or arrangement that might benefit the private interest of an officer or director of the Organization or might result in a possible excess benefit transaction. This policy is intended to supplement but not replace any applicable state and federal laws governing conflicts of interest applicable to nonprofit and charitable organizations.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Compensation and review is made by the Board of Directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Review is made by approval of the Board of Directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Upon Request
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990/SignificantChangeInd0false
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IRS990/SubjectToProxyTaxInd0false
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0395651
IRS990/TotalAssetsEOYAmt0532629
IRS990/TotalAssetsGrp/BOYAmt0395651
IRS990/TotalAssetsGrp/EOYAmt0532629
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt058941
IRS990/TotalEmployeeCnt025
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt049193
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0197854
IRS990/TotalFunctionalExpensesGrp/TotalAmt0247047
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0192902
IRS990/TotalLiabilitiesEOYAmt0111321
IRS990/TotalLiabilitiesGrp/BOYAmt0192902
IRS990/TotalLiabilitiesGrp/EOYAmt0111321
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0202749
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0421308
IRS990/TotalProgramServiceExpensesAmt0197854
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalReportableCompFromOrgAmt080219
IRS990/TotalRevenueGrp/ExclusionAmt0128018
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0124
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0466330
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0395651
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0532629
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/ManagementAndGeneralAmt0165
IRS990/TravelGrp/ProgramServicesAmt01482
IRS990/TravelGrp/TotalAmt01647
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0202749
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0421308
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt03

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