Civic Intelligence

The Michael a J Farrell Foundation Inc.

990 • Fiscal year 2018 • EIN 31-1714697

Jan 01, 2018 to Dec 31, 2018 • Filed on May 30, 2019

Organization ProfileN/A
Pobox 3Summit, NJ 07902

(201) 323-4508

Siviq Scores

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

Liabilities / Assets

88th percentile

0.89x

Higher debt load relative to assets than 88% of similar nonprofits.

2018 filings • NTEE B • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

98th percentile

6.79x

Higher debt load relative to revenue than 98% of similar nonprofits.

2018 filings • NTEE B • $1M-$5M nonprofits • Source year 2018

Net Margin

58th percentile

7.1%

Higher net margin than 58% of similar nonprofits.

2018 filings • NTEE B • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

34th percentile

$0

Higher top officer pay than 34% of similar nonprofits.

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

2018 filings • NTEE B • $1M-$5M nonprofits • Source year 2018

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2018

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2018

Balance Sheet
Liabilities / Assets88th percentile

Assets

$3,937,374

No earlier filing loaded for comparison.

Net Assets

$429,374

No earlier filing loaded for comparison.

Liabilities

$3,508,000

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin58th percentile

Revenue

$516,974

No earlier filing loaded for comparison.

Expenses

$480,312

No earlier filing loaded for comparison.

Net Income

$36,662

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$15M$10M$5.0M$0Assets 2018: $3,937,374Liabilities 2018: $3,508,000Net Assets 2018: $429,3742018Assets 2019: $3,723,681Liabilities 2019: $3,076,000Net Assets 2019: $647,6812019Assets 2020: $3,381,084Liabilities 2020: $2,827,391Net Assets 2020: $553,6932020Assets 2021: $2,782,121Liabilities 2021: $2,344,315Net Assets 2021: $437,8062021Assets 2022: $2,297,552Liabilities 2022: $1,945,706Net Assets 2022: $351,8462022Assets 2023: $1,883,891Liabilities 2023: $1,532,045Net Assets 2023: $351,8462023Assets 2024: $14,548,900Liabilities 2024: $1,102,264Net Assets 2024: $13,446,6362024

Highlighted filing

2018

Assets$3,937,374
Liabilities$3,508,000
Net Assets$429,374
Open 2018 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$15M$10M$5.0M$0-$5.0MRevenue 2018: $516,974Expenses 2018: $480,312Net Income 2018: $36,6622018Revenue 2019: $410,984Expenses 2019: $192,677Net Income 2019: $218,3072019Revenue 2020: $52,680Expenses 2020: $146,668Net Income 2020: -$93,9882020Revenue 2021: $7,700Expenses 2021: $123,587Net Income 2021: -$115,8872021Revenue 2022: $1,474Expenses 2022: $87,434Net Income 2022: -$85,9602022Revenue 2023: $3,695Expenses 2023: $72,378Net Income 2023: -$68,6832023Revenue 2024: $11,955,728Expenses 2024: $605,109Net Income 2024: $11,350,6192024

Highlighted filing

2018

Revenue$516,974
Expenses$480,312
Net Income$36,662
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
May 30, 2019
Return Version
2018v3.1
Gross Receipts
$516,974
Mission and Program Overview

Mission

Raise funds to support the education mission of preparatory schools such as The Oratory School of Summit,NJ and institutions of higher education and other education endeavors.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$367,896$339,121▼ $28,775
Investments in Publicly Traded Securities$24,516$24,953▲ $437
Cash and Non-Interest-Bearing Accounts$300$300→ $0
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$4,395,712$3,937,374▼ $458,338
Other Assets Total$4,003,000$3,573,000▼ $430,000
Liabilities
Unsecured Notes Loans Payable$4,003,000$3,508,000▼ $495,000
Total Liabilities$4,003,000$3,508,000▼ $495,000
Net Assets / Fund Balance
Permanently Rstr Net Assets$392,712$429,374▲ $36,662
Total Net Assets Fund Balance$392,712$429,374▲ $36,662
Total Liabilities and Net Assets / Fund Balance$4,395,712$3,937,374▼ $458,338
Compensation and Service Providers
Top Officer Pay34th percentile

Board Members and Trustees

NameTitle
Carolyn FerrolitoTrustee
Edward McdonnellTrustee
Kevin GreeneTrustee
Mary R FarrellTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$473,272
Program Service Revenue
$0
Investment Income
$43,702
Other Revenue
$0
All Other Contributions
$473,272
Change in Net Assets
$36,662
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$480,312
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$480,312--$480,312
Total Functional Expenses$480,312$0$0$480,312
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

Loans and Receivables

Line ItemBeginningEndChange
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
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
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

Governance Explanations

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

“No review was or will be conducted.”

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

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
The Michael Ajfarrell Foundationinc
EIN
31-1714697
Phone
2013234508
Address
POBOX 3, SUMMIT, NJ 07902

Signing Officer

Name
Kevin Greene
Title
Trustee
Signed
2019-05-30
Discuss with paid preparer
Yes

Organization Details

Formed
2000
Legal Domicile
Nj
Voting Board Members
4
Independent Board Members
0
Employees
0

Preparer

Firm
Naskret Selzer & Associates LLC
Address
3 BECKER FARM RD, ROSELAND, NJ 07068
Preparer
Leonard P Cohen
Phone
9739949555
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ReturnHeader/Filer/USAddress/AddressLine1Txt0POBOX 3
ReturnHeader/Filer/USAddress/CityNm0SUMMIT
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NJ
ReturnHeader/Filer/USAddress/ZIPCd007902
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0800022697
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0NASKRET SELZER & ASSOCIATES LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03 BECKER FARM RD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ROSELAND
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NJ
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd007068
ReturnHeader/PreparerPersonGrp/PhoneNum09739949555
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LEONARD P COHEN
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02019-05-30T15:05:51-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,937,374
Liabilities
$3,508,000
Net assets
$429,374
Revenue
$516,974
Expenses
$480,312
Net income
$36,662
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.5$1.10$13.4$12.0$0.61$11.4
2023Detailed filing. Detailed filing data is available for this year.$1.88$1.53$0.35$0.00$0.07$0.07
2022Detailed filing. Detailed filing data is available for this year.$2.30$1.95$0.35$0.00$0.09$0.09
2021Detailed filing. Detailed filing data is available for this year.$2.78$2.34$0.44$0.01$0.12$0.12
2020Detailed filing. Detailed filing data is available for this year.$3.38$2.83$0.55$0.05$0.15$0.09
2019Detailed filing. Detailed filing data is available for this year.$3.72$3.08$0.65$0.41$0.19$0.22
2018Detailed filing. Detailed filing data is available for this year.$3.94$3.51$0.43$0.52$0.48$0.04