Civic Intelligence

Middletown Community Foundation

990 • Fiscal year 2018 • EIN 31-0898380

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 11, 2019

300 North Main StreetMiddletown, OH 45042

(513) 424-7369

Siviq Scores

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

Liabilities / Assets

33rd percentile

0.11x

Higher debt load relative to assets than 33% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Liabilities / Revenue

74th percentile

0.82x

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

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Net Margin

82nd percentile

28%

Higher net margin than 82% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Top Officer Pay

10th percentile

$80,354

Higher top officer pay than 10% of similar nonprofits.

Top officer pay equals 2.1% of source-year revenue.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Asset Growth

9th percentile

-9.2%

Faster asset growth than 9% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2017 to 2018

Revenue Growth

25th percentile

-3.1%

Faster revenue growth than 25% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2017 to 2018

Assets

Down

$30,171,127

Down $3,072,964 (-9.2%) from 2017

Net Assets

Down

$26,972,166

Down $5,881,497 (-18%) from 2017

Liabilities

Up

$3,198,961

Up $2,808,533 (+719%) from 2017

Revenue

Down

$3,913,753

Down $124,797 (-3.1%) from 2017

Expenses

Down

$2,812,566

Down $294,081 (-9.5%) from 2017

Net Income

Up

$1,101,187

Up $169,284 (+18%) from 2017

Historical Trend

Balance Sheet Trend

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

$60M$40M$20M$0Assets 2010: $24,699,273Liabilities 2010: $155,892Net Assets 2010: $24,543,3812010Assets 2011: $23,345,511Liabilities 2011: $102,128Net Assets 2011: $23,243,3832011Assets 2012: $24,783,419Liabilities 2012: $220,753Net Assets 2012: $24,562,6662012Assets 2013: $28,930,725Liabilities 2013: $660,038Net Assets 2013: $28,270,6872013Assets 2014: $31,418,712Liabilities 2014: $649,295Net Assets 2014: $30,769,4172014Assets 2015: $29,497,345Liabilities 2015: $545,008Net Assets 2015: $28,952,3372015Assets 2016: $29,639,290Liabilities 2016: $478,522Net Assets 2016: $29,160,7682016Assets 2017: $33,244,091Liabilities 2017: $390,428Net Assets 2017: $32,853,6632017Assets 2018: $30,171,127Liabilities 2018: $3,198,961Net Assets 2018: $26,972,1662018Assets 2019: $37,435,439Liabilities 2019: $4,392,912Net Assets 2019: $33,042,5272019Assets 2020: $40,294,981Liabilities 2020: $4,433,325Net Assets 2020: $35,861,6562020Assets 2021: $46,854,450Liabilities 2021: $6,211,050Net Assets 2021: $40,643,4002021Assets 2022: $38,749,593Liabilities 2022: $5,444,002Net Assets 2022: $33,305,5912022Assets 2023: $40,685,800Liabilities 2023: $6,497,555Net Assets 2023: $34,188,2452023Assets 2024: $44,144,992Liabilities 2024: $7,369,399Net Assets 2024: $36,775,5932024

Highlighted filing

2018

Assets$30,171,127
Liabilities$3,198,961
Net Assets$26,972,166

Operations Trend

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

$10M$5.0M$0-$5.0MExpenses 2010: $2,354,5742010Expenses 2011: $2,717,2412011Expenses 2012: $2,774,3362012Revenue 2013: $6,166,587Expenses 2013: $4,411,112Net Income 2013: $1,755,4752013Revenue 2014: $6,308,158Expenses 2014: $2,948,663Net Income 2014: $3,359,4952014Revenue 2015: $2,966,556Expenses 2015: $3,202,647Net Income 2015: -$236,0912015Revenue 2016: $1,479,244Expenses 2016: $3,179,957Net Income 2016: -$1,700,7132016Revenue 2017: $4,038,550Expenses 2017: $3,106,647Net Income 2017: $931,9032017Revenue 2018: $3,913,753Expenses 2018: $2,812,566Net Income 2018: $1,101,1872018Revenue 2019: $4,594,123Expenses 2019: $3,142,408Net Income 2019: $1,451,7152019Revenue 2020: $2,550,993Expenses 2020: $2,440,857Net Income 2020: $110,1362020Revenue 2021: $4,261,790Expenses 2021: $2,878,400Net Income 2021: $1,383,3902021Revenue 2022: $2,185,120Expenses 2022: $2,925,632Net Income 2022: -$740,5122022Revenue 2023: $2,196,744Expenses 2023: $2,690,393Net Income 2023: -$493,6492023Revenue 2024: $8,819,656Expenses 2024: $2,311,170Net Income 2024: $6,508,4862024

Highlighted filing

2018

Revenue$3,913,753
Expenses$2,812,566
Net Income$1,101,187
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 11, 2019
Return Version
2018v3.1
Gross Receipts
$3,913,753
Mission and Program Overview

Mission

To secure permanent and growing assets for the area's changing needs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$30,162,319$28,621,411▼ $1,540,908
Cash and Non-Interest-Bearing Accounts$1,169,857$815,040▼ $354,817
Investments Other Securities$1,327,590$191,716▼ $1,135,874
Other Notes and Loans Receivable, Net$200,000$150,000▼ $50,000
Land, Buildings, and Equipment, Net$24,711$21,943▼ $2,768
Total Assets$33,244,091$30,171,127▼ $3,072,964
Other Assets Total$359,614$371,017▲ $11,403
Liabilities
Escrow Account Liability-$2,929,555-
Grants Payable$385,000$260,975▼ $124,025
Accounts Payable and Accrued Expenses$5,428$8,431▲ $3,003
Total Liabilities$390,428$3,198,961▲ $2,808,533
Net Assets / Fund Balance
Temporarily Rstr Net Assets$16,944,564$15,650,156▼ $1,294,408
Unrestricted Net Assets$15,909,099$11,322,010▼ $4,587,089
Total Net Assets Fund Balance$32,853,663$26,972,166▼ $5,881,497
Total Liabilities and Net Assets / Fund Balance$33,244,091$30,171,127▼ $3,072,964

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$21,943$46,500$68,443

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$29,111,123$330,360▼ $1,182,105-$21,377,231
2017$25,897,206$2,394,722▲ $3,775,022-$29,111,123
2016$25,610,045$1,946,698▲ $1,451,000-$25,897,206
2015$27,148,478$2,458,961▼ $1,175,035-$25,610,045
2014$24,915,135$5,858,258▲ $288,918-$27,148,478
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mulligan KristenFinance OffiFT$74,354$6,000$80,354
Gordon DuaneFormer Ex. D-$51,975$520$52,495
Barnett TraciExecutive DiFT$43,222$1,857$45,079

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$1,590,278
Program Service Revenue
$79,293
Investment Income
$2,238,802
Other Revenue
$5,380
All Other Contributions
$1,524,791
Change in Net Assets
$1,101,187

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded6$208,507Fair Market Value (FMV) Date of Gift
Total Noncash Contributions6$208,507-

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,913,753
Revenue Not Reported on Form 990
$-3,743,787
Total Revenue per Audited Statements
$169,966
Total Revenue per Form 990
$3,913,753
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$2,214,257
Salaries, Compensation, and Employee Benefits$321,295
Other Expenses$277,014
Total Fundraising Expense$115,759
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,397,362--$1,397,362
Grants to Domestic Individuals$816,895--$816,895
Current Officers, Directors, Trustees, and Key Employees$37,839$101,731$38,358$177,928
Other Salaries and Wages$21,120$63,358$21,120$105,598
Fees for Service Investment Mgmnt Fees-$72,351-$72,351
Occupancy$8,948$26,846$8,948$44,742
Office Expenses$4,962$25,376$7,479$37,817
Payroll Taxes$4,199$12,595$4,199$20,993
Conferences and Meetings$180$540$19,159$19,879
Information Technology-$17,905-$17,905
Other Employee Benefits$3,276$9,830$3,277$16,383
Advertising-$8,042$8,043$16,085
Fees for Services Accounting-$13,033-$13,033
Travel-$5,735$1,912$7,647
Fees for Services Other$667$5,210$667$6,544
Insurance$1,281$3,842$1,281$6,404
Depreciation Depletion$1,237$3,711$1,237$6,185
Fees for Services Legal-$2,328-$2,328
Other Expenses-$1,526-$1,526
Pension Plan Contributions$78$236$79$393
Total Functional Expenses$2,298,044$398,763$115,759$2,812,566

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$2,812,566
Expenses per Audited Statements$2,740,215
Total Expenses per Audited Statements$2,740,215
Expenses Not Reported on Financial Statements$72,351
Other Expense Adjustments$72,351
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Butler County Educational ServicesHamilton, OH--$135,000
United Way of Greater CincinnatiCincinnati, OH--$40,000
Atrium Medical Center FoundationMiddletown, OH--$25,000
Middletown Board of EducationMiddletown, OH--$19,826
Middletown Area Chamber FndnMiddletown, OH--$15,000
Middletown Lyric TheatreMiddletown, OH--$15,000
THE CHILDREN'S MEDICAL CENETER DAYTDayton, OH--$15,000
Support to Encourage Low Income FamHamilton, OH--$12,000
4c for ChildrenCincinnai, OH--$10,000
Abilities First FoundationMiddletown, OH--$10,000
City of MiddletownMiddletown, OH--$10,000
Girls on the RunCincinnai, OH--$10,000
HANNAH'S TREASURE CHESTDayton, OH--$10,000
Kiwanis ClubMiddletown, OH--$10,000
Lifespan IncHamilton, OH--$10,000
Salvation Army-middletownMiddletown, OH--$10,000
Sleep in Heavenly Peace - Butler CoMonroe, OH--$10,000
Sorg Opera Revitalization GroupCold Spring, KY--$10,000
3 R DevelopmentMiddletown, OH--$7,500
Community Pregnancy CenterMiddletown, OH--$7,500
Art Central FoundationMiddletown, OH--$7,000
Feed the HungryMiddletown, OH--$7,000
Muscular Dystrophy AssociationMoraine, OH--$6,000
Girl Scouts of Western OhioCincinnai, OH--$5,150
American Red Cross of Greater CincyCincinnai, OH--$5,100
Warren County Adult New ReadersMiddletown, OH--$5,100
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Kristen MulliganEmployeeCompensationNo$80,354
Dan StackBoard MemberContract Fees PaidNo$12,075
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
Yes
Business relationship with organization members
Yes
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

Governance Explanations

Form 990, Page 6, Part VI, Line 2

Kristen mulligan lawrence mulligan jr. Fin. Officer trustee spouse

Form 990, Page 6, Part VI, Line 6

The trustees of the organization must also be members of the organization. All members must have paid membership dues for the current calendar year in order to elect the board of trustees at their annual meeting.

Form 990, Page 6, Part VI, Line 7A

Members hold an annual meeting at which they elect trustees to fill terms starting in the new year.

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

The form 990 is submitted to the whole board for review prior to filing.

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

Annual disclosure form must be submitted. Each new situation is evaluated in light of the policy.

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

The compensation committee reviews the compensation annually. The committee uses comparability data to set the executive director's compensation package.

Form 990, Page 6, Part VI, Line 19

The governing documents are made available upon request.

Filing and Contact Details

Filer

Filer Name
Middletown Community Foundation
EIN
31-0898380
Phone
5134247369
Address
300 NORTH MAIN STREET, MIDDLETOWN, OH 45042

Signing Officer

Name
Barnett Traci
Title
Executive Director
Phone
5134247369
Signed
2019-11-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Barnett Traci
Formed
1976
Legal Domicile
Oh
Voting Board Members
19
Independent Board Members
18
Employees
5
Volunteers
150

Preparer

Firm
Stephenson and Warner Inc Cpas
Address
1502 UNIVERSITY BLVD STE E, HAMILTON, OH 45011-3300
Preparer
Larry F Warner CPA
Phone
5138688600
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Part I, Line 6

All board and various committee members are volunteers. Also, the organization utilizes voluteers to select scholarship recipients and for various other activities.

Form 990, Part XI, Line 9

Agency liability reclassification 29,702 reclassification to net assets from agency liability

Financial Statement Notes

Schedule D, Page 2, Part IV, Line 2B

The foundation reports the assets donated by and held for the benefit of other exempt organizations as a liability on the balance sheet. For 2017 form 990 this liability (3,352,353) was reported with net assets on the balance sheet.

Schedule D, Page 2, Part V, Line 4

To fund projects, programs and scholarships that benefit education, the arts and human needs of the community.

Schedule D, Page 3, Part X

The financial statement effects of a tax position taken or expected to be taken are recognized in the financial statements when it is more likely than not, based on technical merits, that the position will not be sustained upon examination. Interest and penalties, if any, are included in expenses in the statement of activities. As of december 31, 2018 and 2017 the foundation had no uncertain tax positions that qualify for recognition or disclosure in the financial statements.

Schedule D, Page 4, Part XI, Line 2D

INVESTMENT FEES -72,351

Schedule D, Page 4, Part XII, Line 4B

INVESTMENT FEES 72,351

Schedule D, Page 4, Part XIII

The current year administrative expenses amount in part v (endowment funds) includes a reclassification of funds determined not to be endowed funds of 5,530,926.

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IRS990/Form990PartVIISectionAGrp/TitleTxt19FINANCE OFFI
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IRS990/ProgSrvcAccomActy2Grp/Desc0AWARD SCHOLARSHIPS AND ACADEMIC AWARDS TO HIGH SCHOOL STUDENTS AND ADULTS RETURNING TO COLLEGE. THE ORGANIZATION GRANTED 189 SCHOLARSHIPS.
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IRS990/ProgSrvcAccomActy3Grp/Desc0THE READY CAMPAIGN IS A CULMINATION OF A COMMUNITY-WIDE VISIONING AND STRATEGIC PLANNING PROCESS LED BY THE ORGANIZATION IN EFFORTS TO RESEARCH THE PROBLEMS FACING OUR LOCAL EDUCATION SYSTEM, IDENTIFYING RESEARCH-BASED NATIONAL BEST PRACTICES THAT HAVE WORKED ELSEWHERE, AND DETERMINE WHICH ARE BEST TAILORED FOR OUR LOCAL FAMILIES.
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$44.1$7.37$36.8$8.82$2.31$6.51
2023Detailed filing. Detailed filing data is available for this year.$40.7$6.50$34.2$2.20$2.69$0.49
2022Detailed filing. Detailed filing data is available for this year.$38.7$5.44$33.3$2.19$2.93$0.74
2021Detailed filing. Detailed filing data is available for this year.$46.9$6.21$40.6$4.26$2.88$1.38
2020Detailed filing. Detailed filing data is available for this year.$40.3$4.43$35.9$2.55$2.44$0.11
2019Detailed filing. Detailed filing data is available for this year.$37.4$4.39$33.0$4.59$3.14$1.45
2018Detailed filing. Detailed filing data is available for this year.$30.2$3.20$27.0$3.91$2.81$1.10
2017Detailed filing. Detailed filing data is available for this year.$33.2$0.39$32.9$4.04$3.11$0.93
2016Detailed filing. Detailed filing data is available for this year.$29.6$0.48$29.2$1.48$3.18$1.70
2015Detailed filing. Detailed filing data is available for this year.$29.5$0.55$29.0$2.97$3.20$0.24
2014Detailed filing. Detailed filing data is available for this year.$31.4$0.65$30.8$6.31$2.95$3.36
2013Detailed filing. Detailed filing data is available for this year.$28.9$0.66$28.3$6.17$4.41$1.76
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$24.8$0.22$24.6$2.77
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$23.3$0.10$23.2$2.72
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$24.7$0.16$24.5$2.35