Civic Intelligence

Student Financial Aid Association

990 • Fiscal year 2019 • EIN 35-6024366

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 04, 2020

501 Main Street Suite 305Evansville, IN 47708

(812) 423-3138

Siviq Scores

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

Liabilities / Assets

69th percentile

0.02x

Higher debt load relative to assets than 69% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

81st percentile

0.08x

Higher debt load relative to revenue than 81% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Net Margin

96th percentile

78%

Higher net margin than 96% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Top Officer Pay

77th percentile

$0

Higher top officer pay than 77% of similar nonprofits.

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

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Asset Growth

77th percentile

29%

Faster asset growth than 77% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

97th percentile

235%

Faster revenue growth than 97% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Assets

Up

$463,964

Up $104,536 (+29%) from 2018

Net Assets

Up

$453,371

Up $104,224 (+30%) from 2018

Liabilities

Up

$10,593

Up $312 (+3.0%) from 2018

Revenue

Up

$133,407

Up $93,546 (+235%) from 2018

Expenses

Up

$29,183

Up $1,771 (+6.5%) from 2018

Net Income

Up

$104,224

Up $91,775 (+737%) from 2018

Historical Trend

Balance Sheet Trend

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

$800K$600K$400K$200K$0Assets 2015: $373,323Liabilities 2015: $9,637Net Assets 2015: $363,6862015Assets 2016: $396,766Liabilities 2016: $22,713Net Assets 2016: $374,0532016Assets 2017: $389,917Liabilities 2017: $9,863Net Assets 2017: $380,0542017Assets 2018: $359,428Liabilities 2018: $10,281Net Assets 2018: $349,1472018Assets 2019: $463,964Liabilities 2019: $10,593Net Assets 2019: $453,3712019Assets 2020: $517,608Liabilities 2020: $8,365Net Assets 2020: $509,2432020Assets 2021: $660,119Liabilities 2021: $9,115Net Assets 2021: $651,0042021Assets 2022: $527,282Liabilities 2022: $0Net Assets 2022: $527,2822022Assets 2023: $586,980Liabilities 2023: $0Net Assets 2023: $586,9802023Assets 2024: $687,309Liabilities 2024: $0Net Assets 2024: $687,3092024

Highlighted filing

2019

Assets$463,964
Liabilities$10,593
Net Assets$453,371

Operations Trend

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

$200K$100K$0-$100K-$200KRevenue 2015: $30,334Expenses 2015: $37,402Net Income 2015: -$7,0682015Revenue 2016: $14,358Expenses 2016: $16,476Net Income 2016: -$2,1182016Revenue 2017: $42,706Expenses 2017: $29,491Net Income 2017: $13,2152017Revenue 2018: $39,861Expenses 2018: $27,412Net Income 2018: $12,4492018Revenue 2019: $133,407Expenses 2019: $29,183Net Income 2019: $104,2242019Revenue 2020: $119,514Expenses 2020: $63,642Net Income 2020: $55,8722020Revenue 2021: $170,760Expenses 2021: $28,999Net Income 2021: $141,7612021Revenue 2022: -$15,276Expenses 2022: $108,446Net Income 2022: -$123,7222022Revenue 2023: $120,502Expenses 2023: $60,804Net Income 2023: $59,6982023Revenue 2024: $108,023Expenses 2024: $7,694Net Income 2024: $100,3292024

Highlighted filing

2019

Revenue$133,407
Expenses$29,183
Net Income$104,224
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 4, 2020
Return Version
2019v5.0
Gross Receipts
$251,231
Mission and Program Overview

Mission

To provide scholarships to college and trade school students who have high unmet financial needs beyond other scholarships, grants, and loans. Based on academic achievement in high school, college or trade school, and sat or act test scores, without regard to sex, race, religion, or national origin. Areas of emphasis are: teaching, music, sciences, nursing and building trades.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$349,828$443,770▲ $93,942
Savings and Temporary Cash Investments$9,600$20,194▲ $10,594
Total Assets$359,428$463,964▲ $104,536
Liabilities
Other Liabilities$10,281$10,593▲ $312
Total Liabilities$10,281$10,593▲ $312
Net Assets / Fund Balance
Net Assets With Donor Restrictions$253,179$293,179▲ $40,000
Net Assets Without Donor Restrictions$95,968$160,192▲ $64,224
Total Net Assets Fund Balance$349,147$453,371▲ $104,224
Total Liabilities and Net Assets / Fund Balance$359,428$463,964▲ $104,536

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$253,179---$293,179
2018$253,179---$253,179
2017$274,141---$274,141
2016$274,141---$274,141
2015$274,141---$274,141
Compensation and Service Providers

Board Members and Trustees

NameTitle
Michael DirienzoPresident
Amy CasavantBoard Member
Bryan RuderBoard Member
Casey TrelaBoard Member
Eileen KorbaBoard Member
Hannah DillBoard Member
Hillary HillenbrandBoard Member
Jaharana TapalBoard Member
Jessica ScalfanoBoard Member
Marc HoeppnerBoard Member
Mark ChandlerBoard Member
Mary Jo HarperBoard Member
Thornton PatbergBoard Member
Pam MeibalaneSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$60,874
Program Service Revenue
$0
Investment Income
$72,533
Other Revenue
$0
All Other Contributions
$60,874
Change in Net Assets
$104,224
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$25,043
Other Expenses$4,140
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$25,043--$25,043
Fees for Service Investment Mgmnt Fees$4,140--$4,140
Total Functional Expenses$29,183$0$0$29,183
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
Agency Funds$10,593
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 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
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, Page 6, Part VI

Section 2.03. Director emeritus. A director emeritus shall be that person deemed worthy of such designation by reason of their distinguished service to the student financial aid association and shall be designated and elected director emeritus by the board of directors. A director emeritus shall be entitled to attend all meetings of the board, may serve as a member of any committee of the board, but may not vote or hold office. Section 2.04. Financial assistance advisors. The financial assistance advisors from ivy tech community college of indiana (evansville campus), university of evansville,and university of southern indiana shall be appointed by the board to assist in administering and awarding cholarships. They shall serve as ex-officio members of the board without a vote.

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

Because the board does not meet between receipt of the completed 990 and the due date, a copy of the 990 is circulated to all board members via email prior to the date the 990 is filed with the irs. The 990 is reviewed by the treasurer and forwarded to the president for review prior to being signed by the treasurer.

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

Conflict of interest policy is distributed to all board members and they are required to sign an acknowledgment when they join the board of directors and annually thereafter.

Form 990, Page 6, Part VI, Line 19

No documents available to the public

Filing and Contact Details

Filer

Filer Name
Student Financial Aid Association
EIN
35-6024366
Phone
8124233138
Address
501 MAIN STREET SUITE 305, EVANSVILLE, IN 47708

Signing Officer

Name
Michael Dirienzo
Title
President
Phone
8124233138
Signed
2020-11-04

Organization Details

Principal Officer
Michael Dirienzo
Formed
1958
Legal Domicile
In
Voting Board Members
10
Independent Board Members
10
Employees
0
Volunteers
14

Preparer

Firm
Head Accounting LLC
Address
3009 OAK HILL RD, EVANSVILLE, IN 47711
Preparer
Susan B Head CPA
Phone
8125680217
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

To provide scholarships to college and trade school students who have high unmet financial needs beyond other scholarships, grants, and loans. Based on academic achievement in high school, college or trade school, and sat or act test scores, without regard to sex, race, religion, or national origin. Areas of emphasis are: teaching, music, sciences, nursing and building trades.

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

The organization's endowment funds are intended to provide educational support scholarships

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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/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt0253179
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt0274141
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt0274141
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt0274141
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt0274141
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt0274141
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt0274141
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd0false
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd0false
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt010593
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0AGENCY FUNDS
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION'S ENDOWMENT FUNDS ARE INTENDED TO PROVIDE EDUCATIONAL SUPPORT SCHOLARSHIPS
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 2, PART V, LINE 4
IRS990ScheduleD/TotalLiabilityAmt010593
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt025043
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0SCHOLARSHIPS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt023
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0FUNDS ARE DISTRIBUTED BY CHECKS THAT ARE JOINTLY PAYABLE TO THE INDIVIDUAL STUDENT RECIPIENT AND THE COLLEGE OR UNIVERSITY AT WHICH THE STUDENT IS ENROLLED. USE OF FUNDS ARE MONITORED BY THE INDIVIDUAL UNIVERSITIES WHICH LIMIT THEIR USE TO EDUCATIONAL PURPOSES AT THE COLLEGE OR UNIVERSITY LOCATED IN THE UNITED STATES.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE I, PAGE 1, PART I, LINE 2
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO PROVIDE SCHOLARSHIPS TO COLLEGE AND TRADE SCHOOL STUDENTS WHO HAVE HIGH UNMET FINANCIAL NEEDS BEYOND OTHER SCHOLARSHIPS, GRANTS, AND LOANS. BASED ON ACADEMIC ACHIEVEMENT IN HIGH SCHOOL, COLLEGE OR TRADE SCHOOL, AND SAT OR ACT TEST SCORES, WITHOUT REGARD TO SEX, RACE, RELIGION, OR NATIONAL ORIGIN. AREAS OF EMPHASIS ARE: TEACHING, MUSIC, SCIENCES, NURSING AND BUILDING TRADES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt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
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BECAUSE THE BOARD DOES NOT MEET BETWEEN RECEIPT OF THE COMPLETED 990 AND THE DUE DATE, A COPY OF THE 990 IS CIRCULATED TO ALL BOARD MEMBERS VIA EMAIL PRIOR TO THE DATE THE 990 IS FILED WITH THE IRS. THE 990 IS REVIEWED BY THE TREASURER AND FORWARDED TO THE PRESIDENT FOR REVIEW PRIOR TO BEING SIGNED BY THE TREASURER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CONFLICT OF INTEREST POLICY IS DISTRIBUTED TO ALL BOARD MEMBERS AND THEY ARE REQUIRED TO SIGN AN ACKNOWLEDGMENT WHEN THEY JOIN THE BOARD OF DIRECTORS AND ANNUALLY THEREAFTER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0IN
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0359428
IRS990/TotalAssetsEOYAmt0463964
IRS990/TotalAssetsGrp/BOYAmt0359428
IRS990/TotalAssetsGrp/EOYAmt0463964
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt060874
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt029183
IRS990/TotalFunctionalExpensesGrp/TotalAmt029183
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt010281
IRS990/TotalLiabilitiesEOYAmt010593
IRS990/TotalLiabilitiesGrp/BOYAmt010281
IRS990/TotalLiabilitiesGrp/EOYAmt010593
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0349147
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0453371
IRS990/TotalProgramServiceExpensesAmt029183
IRS990/TotalRevenueGrp/ExclusionAmt08950
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt063583
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0133407
IRS990/TotalVolunteersCnt014
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0359428
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0463964
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02021-01-29 14:40:06Z
ReturnHeader/BusinessOfficerGrp/PersonNm0MICHAEL DIRIENZO
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08124233138
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-11-04
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0STUDENT FINANCIAL AID ASSOCIATION
ReturnHeader/Filer/BusinessNameControlTxt0STUD
ReturnHeader/Filer/EIN0356024366
ReturnHeader/Filer/PhoneNum08124233138
ReturnHeader/Filer/USAddress/AddressLine1Txt0501 MAIN STREET SUITE 305
ReturnHeader/Filer/USAddress/CityNm0EVANSVILLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IN
ReturnHeader/Filer/USAddress/ZIPCd047708
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0B6E4C60B9F618FC51159892E2EE51E323E291281
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId01D4152558323A2C6C52E2605B8F95114DC619F56
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt052.38.98.93
ReturnHeader/FilingSecurityInformation/IPDt02020-11-12
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm017:03:42
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0832448097
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HEAD ACCOUNTING LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03009 OAK HILL RD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0EVANSVILLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd047711
ReturnHeader/PreparerPersonGrp/PhoneNum08125680217
ReturnHeader/PreparerPersonGrp/PreparationDt02020-11-11
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SUSAN B HEAD CPA
ReturnHeader/ReturnTs02020-11-12T17:03:42-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

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