Civic Intelligence

Pay IT Forward Scholarships Inc

EIN 27-5096979 • 501(c)3 • Gainesville, GA

Profile

Provide tuition scholarships to pre-k through 12th grade georgia private school students in accordance with georgia hb 283.

Refreshing map…

615 Oak St Ste FGainesville, GA 30501

www.payitforwardscholarships.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

26th percentile

0.00x

Higher debt load relative to assets than 26% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

22nd percentile

0.00x

Higher debt load relative to revenue than 22% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

37th percentile

-0.7%

Higher net margin than 37% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

52nd percentile

$62,500

Higher top officer pay than 52% of similar nonprofits.

Top officer pay equals 4.4% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

33rd percentile

-1.8%

Faster asset growth than 33% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

25th percentile

-8.5%

Faster revenue growth than 25% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets26th percentile

Assets

Up

$281,230

Up $94,279 (+50%) from 2020

Liabilities

Down

$5,378

Down $32,382 (-86%) from 2020

Net Assets

Up

$275,852

Up $126,661 (+85%) from 2020

Operations
Liabilities / Revenue22nd percentileNet Margin37th percentile

Revenue

Up

$921,931

Up $17,415 (+1.9%) from 2020

Expenses

Down

$795,270

Down $54,946 (-6.5%) from 2020

Net Income

Up

$126,661

Up $72,361 (+133%) from 2020

Trend Graphs

Balance Sheet Trend

Asset Growth33rd percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$300K$200K$100K$0Assets 2015: $166,863Liabilities 2015: $0Net Assets 2015: $166,8632015Assets 2016: $137,085Liabilities 2016: $0Net Assets 2016: $137,0852016Assets 2017: $116,459Liabilities 2017: $0Net Assets 2017: $116,4592017Assets 2018: $106,366Liabilities 2018: $0Net Assets 2018: $106,3662018Assets 2019: $137,548Liabilities 2019: $42,657Net Assets 2019: $94,8912019Assets 2020: $186,951Liabilities 2020: $37,760Net Assets 2020: $149,1912020Assets 2021: $281,230Liabilities 2021: $5,378Net Assets 2021: $275,8522021

Highlighted filing

2021

Assets$281,230
Liabilities$5,378
Net Assets$275,852
Open 2021 Filing

Operations Trend

Revenue Growth25th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.5M$1.0M$500K$0-$500KRevenue 2015: $1,171,015Expenses 2015: $1,091,512Net Income 2015: $79,5032015Revenue 2016: $962,765Expenses 2016: $992,543Net Income 2016: -$29,7782016Revenue 2017: $740,149Expenses 2017: $760,775Net Income 2017: -$20,6262017Revenue 2018: $781,301Expenses 2018: $791,394Net Income 2018: -$10,0932018Revenue 2019: $909,644Expenses 2019: $921,119Net Income 2019: -$11,4752019Revenue 2020: $904,516Expenses 2020: $850,216Net Income 2020: $54,3002020Revenue 2021: $921,931Expenses 2021: $795,270Net Income 2021: $126,6612021

Highlighted filing

2021

Revenue$921,931
Expenses$795,270
Net Income$126,661
Open 2021 Filing

Filings

Most recent year

2021 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$281,230
Liabilities
$5,378
Net assets
$275,852
Revenue
$921,931
Expenses
$795,270
Net income
$126,661
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.28$0.01$0.28$0.92$0.80$0.13
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.19$0.04$0.15$0.90$0.85$0.05
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.14$0.04$0.09$0.91$0.92$0.01
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.11$0.00$0.11$0.78$0.79$0.01
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.12$0.00$0.12$0.74$0.76$0.02
2016Detailed filing. Detailed filing data is available for this year.$0.14$0.00$0.14$0.96$0.99$0.03
2015Detailed filing. Detailed filing data is available for this year.$0.17$0.00$0.17$1.17$1.09$0.08
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Mar 3, 2022
Return Version
2020v4.0
Gross Receipts
$921,931
Mission and Program Overview

Mission

Provide tuition scholarships to pre-k through 12th grade georgia private school students in accordance with georgia hb 283.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$183,412$279,344▲ $95,932
Land, Buildings, and Equipment, Net$3,539$1,886▼ $1,653
Total Assets$186,951$281,230▲ $94,279
Liabilities
Mortgage Notes Payable Secured by Investment Property$27,387--
Other Liabilities$5,377$5,378▲ $1
Accounts Payable and Accrued Expenses$4,996--
Total Liabilities$37,760$5,378▼ $32,382
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$149,191$275,852▲ $126,661
Total Net Assets Fund Balance$149,191$275,852▲ $126,661
Total Liabilities and Net Assets / Fund Balance$186,951$281,230▲ $94,279

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,886$9,882$11,768
Compensation and Service Providers
Top Officer Pay52nd percentile

Board Members and Trustees

NameTitle
Cary SinnettBoard Chair
Amber AndersonBoard Member
Jason BufordBoard Member
Jon GoinsBoard Member
Shannon HornBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$921,931
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$126,661

Audited Revenue Reconciliation

Revenue per Audited Statements
$921,931
Total Revenue per Audited Statements
$921,931
Total Revenue per Form 990
$921,931
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$605,666
Salaries, Compensation, and Employee Benefits$141,874
Other Expenses$47,730
Total Fundraising Expense$39,139
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$605,666--$605,666
Other Salaries and Wages$91,350$10,440$28,710$130,500
Fees for Services Other$19,335$874$2,400$22,609
Payroll Taxes$7,962$910$2,502$11,374
Occupancy$6,892$788$2,166$9,846
Office Expenses$3,239$369$1,018$4,626
Insurance$2,719$311$854$3,884
Travel$2,660$304$836$3,800
Depreciation Depletion$1,157$132$364$1,653
Payment Travel Entrtnmnt Publicly Ofcl$918$105$289$1,312
Total Functional Expenses$741,898$14,233$39,139$795,270

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$795,270
Total Expenses per Audited Statements$795,270
Total Expenses per Form 990$795,270
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Salaries$5,378
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
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, Page 6, Part VI, Line 11B

“The organization distributed a complete copy of form 990 to all members of its governing body prior to filing form 990 during a meeting of its governing members.”

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

“The organization takes an annual attestation of its governing members that requires governing members to disclose any ptoentiall conflicts of interest. Any disclosed conflicts must be approved by the governing body.”

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

“In 2012 the governing body underwent a research and examination process to determine an appropriate compensation model for an executive director position. This process was reviewed and approved by an independent group with expertise in non-profit compensation, which included comparability data and contemporaneous substantiation of the deliberation and decision. In 2013 the governing body reviewed this information to confirm its validity over time.”

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

“Compensation for all employees is reviewed by the board of directors, and is comparable to or less than industry standards.”

Form 990, Page 6, Part VI, Line 18

“The organization makes its governing documents, conflicts of interest policy, and financial statements available to the public during the tax year on demand, via our website and via electronic media.”

Form 990, Page 6, Part VI, Line 19

“The organization makes its governing documents, conflicts of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
A Pay It Forward Scholarship Inc
EIN
27-5096979
Phone
7705390119
Address
615 OAK ST STE F, GAINESVILLE, GA 30501

Signing Officer

Name
Cary Sinnett
Title
Board Chair
Phone
7705390119
Signed
2022-03-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Cary Sinnett
Formed
2011
Legal Domicile
Ga
Voting Board Members
5
Independent Board Members
5
Employees
2

Preparer

Firm
Crace Beam Cpas LLC
Address
9763 WESTPOINT DRIVE, INDIANAPOLIS, IN 46256
Preparer
Jason L Crace CPA
Phone
3179913322
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

“Income taxes the internal revenue service has ruled that the organization is exempt from federal income taxes under section 501(c)(3) of the internal revenue code as an other private organization. The organization is also exempt from state income tax. The organization follows the requirents associated with uncertainty in income taxes using the provisions of financial accounting standards board fasb asc 740, income taxes. The guidance prescribes a minimum recognition threshold and measurement methodology that a tax position taken or expected to be taken in a tax return is required before being recognized in the financial statements. It also provides guidance for derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. As of june 30, 2020, the organization has no uncertain tax positions that qualify for either recognition or disclosure in the financial statements. The organization began operation in 2011, with few exceptions, the organization is no longer subject to u.s. Federal, state, and local income tax examination by tax authorities for years before 2017.”

Raw XML Appendix343 raw XML fields

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/SupplementalInformationDetail/ExplanationTxt0INCOME TAXES THE INTERNAL REVENUE SERVICE HAS RULED THAT THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AS AN OTHER PRIVATE ORGANIZATION. THE ORGANIZATION IS ALSO EXEMPT FROM STATE INCOME TAX. THE ORGANIZATION FOLLOWS THE REQUIRENTS ASSOCIATED WITH UNCERTAINTY IN INCOME TAXES USING THE PROVISIONS OF FINANCIAL ACCOUNTING STANDARDS BOARD FASB ASC 740, INCOME TAXES. THE GUIDANCE PRESCRIBES A MINIMUM RECOGNITION THRESHOLD AND MEASUREMENT METHODOLOGY THAT A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN IS REQUIRED BEFORE BEING RECOGNIZED IN THE FINANCIAL STATEMENTS. IT ALSO PROVIDES GUIDANCE FOR DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE AND TRANSITION. AS OF JUNE 30, 2020, THE ORGANIZATION HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE ORGANIZATION BEGAN OPERATION IN 2011, WITH FEW EXCEPTIONS, THE ORGANIZATION IS NO LONGER SUBJECT TO U.S. FEDERAL, STATE, AND LOCAL INCOME TAX EXAMINATION BY TAX AUTHORITIES FOR YEARS BEFORE 2017.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleD/TotalExpensesPerForm990Amt0795270
IRS990ScheduleD/TotalLiabilityAmt05378
IRS990ScheduleD/TotalRevenuePerForm990Amt0921931
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0921931
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0795270
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt0605666
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0SCHOLARSHIPS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt0632
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION DISTRIBUTED A COMPLETE COPY OF FORM 990 TO ALL MEMBERS OF ITS GOVERNING BODY PRIOR TO FILING FORM 990 DURING A MEETING OF ITS GOVERNING MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION TAKES AN ANNUAL ATTESTATION OF ITS GOVERNING MEMBERS THAT REQUIRES GOVERNING MEMBERS TO DISCLOSE ANY PTOENTIALL CONFLICTS OF INTEREST. ANY DISCLOSED CONFLICTS MUST BE APPROVED BY THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2IN 2012 THE GOVERNING BODY UNDERWENT A RESEARCH AND EXAMINATION PROCESS TO DETERMINE AN APPROPRIATE COMPENSATION MODEL FOR AN EXECUTIVE DIRECTOR POSITION. THIS PROCESS WAS REVIEWED AND APPROVED BY AN INDEPENDENT GROUP WITH EXPERTISE IN NON-PROFIT COMPENSATION, WHICH INCLUDED COMPARABILITY DATA AND CONTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATION AND DECISION. IN 2013 THE GOVERNING BODY REVIEWED THIS INFORMATION TO CONFIRM ITS VALIDITY OVER TIME.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COMPENSATION FOR ALL EMPLOYEES IS REVIEWED BY THE BOARD OF DIRECTORS, AND IS COMPARABLE TO OR LESS THAN INDUSTRY STANDARDS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC DURING THE TAX YEAR ON DEMAND, VIA OUR WEBSITE AND VIA ELECTRONIC MEDIA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SignificantNewProgramSrvcInd0false
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IRS990/TaxablePartyNotificationInd0false
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt014233
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0741898
IRS990/TotalFunctionalExpensesGrp/TotalAmt0795270
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt037760
IRS990/TotalLiabilitiesEOYAmt05378
IRS990/TotalLiabilitiesGrp/BOYAmt037760
IRS990/TotalLiabilitiesGrp/EOYAmt05378
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0149191
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0275852
IRS990/TotalProgramServiceExpensesAmt0741898
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0921931
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0186951
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0281230
IRS990/TravelGrp/FundraisingAmt0836
IRS990/TravelGrp/ManagementAndGeneralAmt0304
IRS990/TravelGrp/ProgramServicesAmt02660
IRS990/TravelGrp/TotalAmt03800
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
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IRS990/USAddress/CityNm0GAINESVILLE
IRS990/USAddress/StateAbbreviationCd0GA
IRS990/USAddress/ZIPCd030501
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.PAYITFORWARDSCHOLARSHIPS.COM
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02022-03-31 18:45:55Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0CARY SINNETT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0BOARD CHAIR
ReturnHeader/BusinessOfficerGrp/PhoneNum07705390119
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-03-03
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0A PAY IT FORWARD SCHOLARSHIP INC
ReturnHeader/Filer/BusinessNameControlTxt0APAY
ReturnHeader/Filer/EIN0275096979
ReturnHeader/Filer/PhoneNum07705390119
ReturnHeader/Filer/USAddress/AddressLine1Txt0615 OAK ST STE F
ReturnHeader/Filer/USAddress/CityNm0GAINESVILLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0GA
ReturnHeader/Filer/USAddress/ZIPCd030501
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0262182951
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CRACE BEAM CPAS LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt09763 WESTPOINT DRIVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0INDIANAPOLIS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd046256
ReturnHeader/PreparerPersonGrp/PhoneNum03179913322
ReturnHeader/PreparerPersonGrp/PreparationDt02022-03-05
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JASON L CRACE CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02022-03-05T08:51:56-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0CARY
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0SINNETT
ReturnHeader/TaxPeriodBeginDt02020-07-01
ReturnHeader/TaxPeriodEndDt02021-06-30
ReturnHeader/TaxYr02020

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