Civic Intelligence

Casitas Fund Inc.

990 • Fiscal year 2016 • EIN 31-1148247

Jan 01, 2016 to Dec 31, 2016 • Filed on Apr 11, 2017

Organization ProfileN/A
2 Wall StreetPrinceton, NJ 08540

(609) 751-0702

Siviq Scores

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

Liabilities / Assets

14th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2016 filings • NTEE N • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

15th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2016 filings • NTEE N • $1M-$5M nonprofits • Source year 2016

Net Margin

3rd percentile

-93%

Higher net margin than 3% of similar nonprofits.

2016 filings • NTEE N • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

48th percentile

$0

Higher top officer pay than 48% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2016 filings • NTEE N • $1M-$5M nonprofits • Source year 2016

Asset Growth

39th percentile

0.1%

Faster asset growth than 39% of similar nonprofits.

2016 filings • NTEE N • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

4th percentile

-44%

Faster revenue growth than 4% of similar nonprofits.

2016 filings • NTEE N • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets14th percentile

Assets

Up

$1,404,154

Up $1,020 (+0.1%) from 2015

Net Assets

Up

$1,404,154

Up $1,020 (+0.1%) from 2015

Liabilities

Flat

$0

Flat from 2015

Revenue And Expenses
Liabilities / Revenue15th percentileNet Margin3rd percentile

Revenue

Down

$35,012

Down $27,483 (-44%) from 2015

Expenses

Down

$67,711

Down $6,746 (-9.1%) from 2015

Net Income

Down

-$32,699

Down $20,737 (-173%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth39th percentile

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

$3.0M$2.0M$1.0M$0Assets 2012: $1,348,373Liabilities 2012: $0Net Assets 2012: $1,348,3732012Assets 2013: $1,501,064Liabilities 2013: $0Net Assets 2013: $1,501,0642013Assets 2014: $1,489,147Liabilities 2014: $0Net Assets 2014: $1,489,1472014Assets 2015: $1,403,134Liabilities 2015: $0Net Assets 2015: $1,403,1342015Assets 2016: $1,404,154Liabilities 2016: $0Net Assets 2016: $1,404,1542016Assets 2017: $1,548,955Liabilities 2017: $0Net Assets 2017: $1,548,9552017Assets 2018: $1,427,182Liabilities 2018: $0Net Assets 2018: $1,427,1822018Assets 2019: $1,623,525Liabilities 2019: $0Net Assets 2019: $1,623,5252019Assets 2020: $1,756,370Liabilities 2020: $0Net Assets 2020: $1,756,3702020Assets 2021: $2,065,147Liabilities 2021: $0Net Assets 2021: $2,065,1472021Assets 2022: $1,745,078Liabilities 2022: $0Net Assets 2022: $1,745,0782022Assets 2023: $1,878,317Liabilities 2023: $0Net Assets 2023: $1,878,3172023Assets 2024: $2,030,980Liabilities 2024: $0Net Assets 2024: $2,030,9802024

Highlighted filing

2016

Assets$1,404,154
Liabilities$0
Net Assets$1,404,154
Open 2016 Filing

Operations Trend

Revenue Growth4th percentile

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

$300K$200K$100K$0-$100KExpenses 2012: $60,0002012Revenue 2013: $106,501Expenses 2013: $67,418Net Income 2013: $39,0832013Revenue 2014: $58,384Expenses 2014: $75,000Net Income 2014: -$16,6162014Revenue 2015: $62,495Expenses 2015: $74,457Net Income 2015: -$11,9622015Revenue 2016: $35,012Expenses 2016: $67,711Net Income 2016: -$32,6992016Revenue 2017: $116,687Expenses 2017: $70,011Net Income 2017: $46,6762017Revenue 2018: $45,849Expenses 2018: $77,448Net Income 2018: -$31,5992018Revenue 2019: $87,106Expenses 2019: $74,702Net Income 2019: $12,4042019Revenue 2020: $159,075Expenses 2020: $75,000Net Income 2020: $84,0752020Revenue 2021: $234,943Expenses 2021: $75,000Net Income 2021: $159,9432021Revenue 2022: $53,541Expenses 2022: $100,000Net Income 2022: -$46,4592022Revenue 2023: $45,826Expenses 2023: $67,325Net Income 2023: -$21,4992023Revenue 2024: $88,831Expenses 2024: $72,661Net Income 2024: $16,1702024

Highlighted filing

2016

Revenue$35,012
Expenses$67,711
Net Income-$32,699
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Apr 11, 2017
Return Version
2016v3.0
Gross Receipts
$75,753
Mission and Program Overview

Mission

To support amateur rowing programs through the United States Rowing Association

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$1,403,134$1,404,154▲ $1,020
Total Assets$1,403,134$1,404,154▲ $1,020
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$1,403,134$1,404,154▲ $1,020
Total Net Assets Fund Balance$1,403,134$1,404,154▲ $1,020
Total Liabilities and Net Assets / Fund Balance$1,403,134$1,404,154▲ $1,020

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$1,404,154--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$1,403,134-▲ $68,731-$1,404,154
2015$1,489,147-▼ $11,556-$1,403,134
2014$1,501,064-▲ $63,083-$1,489,147
2013$1,348,373-▲ $220,109-$1,501,064
2012$1,255,024-▲ $153,349-$1,348,373
Compensation and Service Providers
Top Officer Pay48th percentile

Board Members and Trustees

NameTitle
Peter CipollonePresident
Catriona FallonSteward
Jamie RedmanSteward
Thomas FeasterSteward
Thomas FullerTreasurer and Secretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$35,012
Other Revenue
$0
Change in Net Assets
$-32,699
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$67,711
Other Expenses$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$67,711--$67,711
Total Functional Expenses$67,711$0$0$67,711
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
United States Rowing AssociationPrinceton, NJ501(c)(3)To support the United States Rowing Association$67,711
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
Audit committee
Yes
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 8B

“The Organization has no committees with the power to act on behalf of the board. Therefore, there is no contemporaneous documentation of any such meetings.”

Form 990, Part VI, Section B, line 11B

“The Form 990 is reviewed by United States Rowing Association's (USRA) Finance and Audit Committee and the Casitas Fund's Board of Stewards prior to filing.”

Form 990, Part VI, Section B, line 12C

“Members must annually disclose any involvements with other organizations, with vendors, or any other associations that might produce a conflict or be perceived as producing a conflict.”

Form 990, Part VI, Section C, line 19

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

Filing and Contact Details

Filer

Filer Name
Casitas Fund Inc
EIN
31-1148247
Phone
6097510702
Address
2 WALL STREET, PRINCETON, NJ 08540

Signing Officer

Name
Peter Cipollone
Title
President
Phone
6097510702
Signed
2017-04-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Peter Cipollone
Formed
1985
Legal Domicile
In
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
5

Preparer

Firm
Klatzkin & Company Llp
Address
1670 WHITEHORSE HAM SQ RD, HAMILTON, NJ 08690-3513
Preparer
Bruce S Ludlow CPA
Phone
6098909189
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

“The United States Rowing Association's (USRA) Finance and Audit committee assumes responsibility for oversight of the audit of the consolidated financial statements of USRA and the Casitas Fund and for the selection of the independent auditor. The process of overseeing the audit and selecting the independent auditor has not changed.”

Financial Statement Notes

Part V, Line 4:

“The Casitas Fund's board designated endowment is for the exclusive benefit of the United States Rowing Association.”

Part X, Line 2:

“The Organization's federal exempt and unrelated business income returns are subject to examination by the IRS, generally for three years after they were filed. The statute of limitations does not apply to unfiled returns. The Organization believes that all required tax returns have been filed. In the event it would be required, the Organization would recognize interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses. The Organization has not recognized any amounts for interest and penalties accrued at December 31, 2016 and 2015.”

Raw XML Appendix386 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/ExplanationTxt0The Casitas Fund's board designated endowment is for the exclusive benefit of the United States Rowing Association.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1The Organization's federal exempt and unrelated business income returns are subject to examination by the IRS, generally for three years after they were filed. The statute of limitations does not apply to unfiled returns. The Organization believes that all required tax returns have been filed. In the event it would be required, the Organization would recognize interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses. The Organization has not recognized any amounts for interest and penalties accrued at December 31, 2016 and 2015.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part V, Line 4:
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IRS990ScheduleI/RecipientTable/RecipientEIN0236275472
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0Funds are granted to the United States Rowing Association for operational purposes.
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IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Organization has no committees with the power to act on behalf of the board. Therefore, there is no contemporaneous documentation of any such meetings.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Form 990 is reviewed by United States Rowing Association's (USRA) Finance and Audit Committee and the Casitas Fund's Board of Stewards prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Members must annually disclose any involvements with other organizations, with vendors, or any other associations that might produce a conflict or be perceived as producing a conflict.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Organization makes its governing documents, conflict of interest policy and financial statements available to the the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The United States Rowing Association's (USRA) Finance and Audit committee assumes responsibility for oversight of the audit of the consolidated financial statements of USRA and the Casitas Fund and for the selection of the independent auditor. The process of overseeing the audit and selecting the independent auditor has not changed.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 8b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part XII, Line 2C
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd01
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0United States Rowing Association
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0236275472
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(c)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NJ
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0To support and promote the sport of rowing
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0Line 7
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Princeton
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NJ
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd008540
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0IN
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd01
IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsEOYAmt01404154
IRS990/TotalAssetsGrp/BOYAmt01403134
IRS990/TotalAssetsGrp/EOYAmt01404154
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt067711
IRS990/TotalFunctionalExpensesGrp/TotalAmt067711
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01403134
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01404154
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt067711
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt035012
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt035012
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01403134
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01404154
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt01403134
IRS990/UnrestrictedNetAssetsGrp/EOYAmt01404154
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02 WALL STREET
IRS990/USAddress/CityNm0PRINCETON
IRS990/USAddress/StateAbbreviationCd0NJ
IRS990/USAddress/ZIPCd008540
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0PETER CIPOLLONE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum06097510702
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-04-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CASITAS FUND INC
ReturnHeader/Filer/BusinessNameControlTxt0CASI
ReturnHeader/Filer/EIN0311148247
ReturnHeader/Filer/PhoneNum06097510702
ReturnHeader/Filer/USAddress/AddressLine1Txt02 WALL STREET
ReturnHeader/Filer/USAddress/CityNm0PRINCETON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NJ
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ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt075.99.151.218
ReturnHeader/FilingSecurityInformation/IPDt02017-04-11
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm010:25:16
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0210650289
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0KLATZKIN & COMPANY LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01670 WHITEHORSE HAM SQ RD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0HAMILTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NJ
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0086903513
ReturnHeader/PreparerPersonGrp/PhoneNum06098909189
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BRUCE S LUDLOW CPA
ReturnHeader/ReturnTs02017-04-11T09:46:59-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,404,154
Liabilities
$0
Net assets
$1,404,154
Revenue
$35,012
Expenses
$67,711
Net income
-$32,699
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.03$0.00$2.03$0.09$0.07$0.02
2023Detailed filing. Detailed filing data is available for this year.$1.88$0.00$1.88$0.05$0.07$0.02
2022Detailed filing. Detailed filing data is available for this year.$1.75$0.00$1.75$0.05$0.10$0.05
2021Detailed filing. Detailed filing data is available for this year.$2.07$0.00$2.07$0.23$0.08$0.16
2020Detailed filing. Detailed filing data is available for this year.$1.76$0.00$1.76$0.16$0.08$0.08
2019Detailed filing. Detailed filing data is available for this year.$1.62$0.00$1.62$0.09$0.07$0.01
2018Detailed filing. Detailed filing data is available for this year.$1.43$0.00$1.43$0.05$0.08$0.03
2017Detailed filing. Detailed filing data is available for this year.$1.55$0.00$1.55$0.12$0.07$0.05
2016Detailed filing. Detailed filing data is available for this year.$1.40$0.00$1.40$0.04$0.07$0.03
2015Detailed filing. Detailed filing data is available for this year.$1.40$0.00$1.40$0.06$0.07$0.01
2014Detailed filing. Detailed filing data is available for this year.$1.49$0.00$1.49$0.06$0.08$0.02
2013Detailed filing. Detailed filing data is available for this year.$1.50$0.00$1.50$0.11$0.07$0.04
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.35$0.00$1.35$0.06