Civic Intelligence

Terra Nova Films Inc

990 • Fiscal year 2018 • EIN 36-3106071

Jan 01, 2018 to Dec 31, 2018 • Filed on Jul 09, 2019

9848 South Winchester AveChicago, IL 60643

(773) 881-8491

Siviq Scores

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

Liabilities / Assets

82nd percentile

0.40x

Higher debt load relative to assets than 82% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

85th percentile

0.48x

Higher debt load relative to revenue than 85% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Net Margin

63rd percentile

9.5%

Higher net margin than 63% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

68th percentile

$55,000

Higher top officer pay than 68% of similar nonprofits.

Top officer pay equals 12.5% of source-year revenue.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Asset Growth

67th percentile

9.2%

Faster asset growth than 67% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

74th percentile

22%

Faster revenue growth than 74% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Assets

Up

$537,116

Up $45,367 (+9.2%) from 2017

Net Assets

Up

$324,930

Up $122,829 (+61%) from 2017

Liabilities

Down

$212,186

Down $77,462 (-27%) from 2017

Revenue

Up

$439,000

Up $78,450 (+22%) from 2017

Expenses

Up

$397,125

Up $6,121 (+1.6%) from 2017

Net Income

Up

$41,875

Up $72,329 (+238%) from 2017

Historical Trend

Balance Sheet Trend

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

$600K$400K$200K$0Assets 2014: $278,425Liabilities 2014: $83,985Net Assets 2014: $194,4402014Assets 2015: $358,397Liabilities 2015: $128,381Net Assets 2015: $230,0162015Assets 2017: $491,749Liabilities 2017: $289,648Net Assets 2017: $202,1012017Assets 2018: $537,116Liabilities 2018: $212,186Net Assets 2018: $324,9302018Assets 2019: $504,254Liabilities 2019: $132,913Net Assets 2019: $371,3412019Assets 2020: $386,281Liabilities 2020: $86,420Net Assets 2020: $299,8612020Assets 2021: $367,885Liabilities 2021: $74,034Net Assets 2021: $293,8512021

Highlighted filing

2018

Assets$537,116
Liabilities$212,186
Net Assets$324,930

Operations Trend

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

$600K$400K$200K$0-$200KRevenue 2014: $404,518Expenses 2014: $445,992Net Income 2014: -$41,4742014Revenue 2015: $473,796Expenses 2015: $450,079Net Income 2015: $23,7172015Revenue 2017: $360,550Expenses 2017: $391,004Net Income 2017: -$30,4542017Revenue 2018: $439,000Expenses 2018: $397,125Net Income 2018: $41,8752018Revenue 2019: $319,704Expenses 2019: $279,995Net Income 2019: $39,7092019Revenue 2020: $108,322Expenses 2020: $193,482Net Income 2020: -$85,1602020Revenue 2021: $167,386Expenses 2021: $183,640Net Income 2021: -$16,2542021

Highlighted filing

2018

Revenue$439,000
Expenses$397,125
Net Income$41,875
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Jul 9, 2019
Return Version
2018v3.1
Gross Receipts
$439,000
Mission and Program Overview

Mission

Production, distribution, and rental of educational audio-visual, and written media for the purpose of raising issues of public concern and stimulate thought and concern for the public good.

Production, distribution and rental of educational audio-visual, and written media for the purpose of raising issues of public concern and stimulate thought and concern for the public good.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$182,598$145,433▼ $37,165
Savings and Temporary Cash Investments$45,557$71,270▲ $25,713
Accounts Receivable$16,891$66,738▲ $49,847
Inventories for Sale or Use$15,516$17,664▲ $2,148
Land, Buildings, and Equipment, Net$14,663$16,218▲ $1,555
Pledges and Grants Receivable$8,800$0▼ $8,800
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$491,749$537,116▲ $45,367
Other Assets Total$207,724$219,793▲ $12,069
Liabilities
Accounts Payable and Accrued Expenses$240,220$212,186▼ $28,034
Deferred Revenue$49,428--
Total Liabilities$289,648$212,186▼ $77,462
Net Assets / Fund Balance
Unrestricted Net Assets$157,601$324,930▲ $167,329
Temporarily Rstr Net Assets$44,500--
Total Net Assets Fund Balance$202,101$324,930▲ $122,829
Total Liabilities and Net Assets / Fund Balance$491,749$537,116▲ $45,367

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$16,218$70,068-
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
James Vanden BoschExecutive DirectorFT$55,000$55,000

Board Members and Trustees

NameTitle
Pat CohenPresident
Diane SlezakVice President
Celia BerdesDirector
Lydia ManningDirector
Michael KernsDirector
Janet DahmSecretary
James FlanaganTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,000
Program Service Revenue
$422,808
Investment Income
$774
Other Revenue
$14,418
All Other Contributions
$1,000
Change in Net Assets
$41,875

Audited Revenue Reconciliation

Revenue per Audited Statements
$439,000
Revenue Not Reported on Form 990
$12,069
Total Revenue per Audited Statements
$451,069
Total Revenue per Form 990
$439,000
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$261,883
Salaries, Compensation, and Employee Benefits$135,242
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$20,328$41,250-$61,578
Current Officers, Directors, Trustees, and Key Employees$55,000--$55,000
Office Expenses$40,874$148-$41,022
Fees for Services Other$20,609--$20,609
Occupancy$14,400--$14,400
Travel$364$12,441-$12,805
Payroll Taxes$12,115--$12,115
All Other Expenses$7,862--$7,862
Other Employee Benefits$5,958$591-$6,549
Insurance$5,701--$5,701
Depreciation Depletion$5,602--$5,602
Other Expenses$3,196--$3,196
Advertising$25--$25
Total Functional Expenses$342,695$54,430$0$397,125

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$397,125
Total Expenses per Audited Statements$397,125
Total Expenses per Form 990$397,125
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
Audit committee
Yes
Backup withholding compliance
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
Yes
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

The board of directors receives an electronic copy of the 990 for review and approval before it is filed.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

Review materials are issued to the board of directors in december and are due back to the compensation committee by february. Executive session of the board of directos meets to determine the compensation recommendation to be made to the entire board. Members of the board of directors meet with the executive director for an annual review of perforamnce and a final decsion is made on the compensation.

Form 990, Part VI, Line 18: Explanation of Other Means Forms Available For Public Inspection

The 990 can be acquired through the guidestar.org website or the illinois attorney general website

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

PROVIDED UPON REQUEST

Filing and Contact Details

Filer

Filer Name
Terra Nova Films Inc
EIN
36-3106071
Phone
7738818491
Address
9848 SOUTH WINCHESTER AVE, CHICAGO, IL 60643

Signing Officer

Name
James Vanden Bosch
Title
Executive Director
Signed
2019-07-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Pat Cohen
Formed
1983
Legal Domicile
Il
Voting Board Members
7
Independent Board Members
7
Employees
4
Volunteers
5

Preparer

Firm
Il Nfp Audit and Tax Llp
Address
564 W RANDOLPH STREET SUITE 200, CHICAGO, IL 60661
Preparer
Abdullah Khan CPA
Phone
3129985500
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

The Organization is exempt from Federal and State income taxes under Section 501(c)(3) of the Internal Revenue Code, therefore, the financial statements do not include a provision for income taxes. The Organization reviews income tax positions taken or expected to be taken in income tax returns to determine if there are any income tax uncertainties. This includes positions that the entity is exempt from income taxes or not subject to income taxes on unrelated business income. The Organization recognizes tax benefits from uncertain tax positions only if it is more likely than not that the tax positions will be sustained on examination by taxing authorities, based on the technical merits of the positions. The Organization has identified no significant income tax uncertainties. The Organization files information returns as a tax-exempt organization. Should that status be challenged in the future, all years since inception could be subject to review by the IRS.

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IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt1805
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt24120
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0153
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt1805
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt24120
IRS990/OtherRevenueTotalAmt05078
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt041250
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt020328
IRS990/OtherSalariesAndWagesGrp/TotalAmt061578
IRS990/OtherWebsiteInd0X
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ProgramServicesAmt012115
IRS990/PayrollTaxesGrp/TotalAmt012115
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt08800
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0PAT COHEN
IRS990/PriorPeriodAdjustmentsAmt068885
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0FILMS SALES
IRS990/ProgramServiceRevenueGrp/Desc1PRODUCTION CONTRACTS
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0233480
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1189328
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0233480
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1189328
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt08800
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0333
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0259376
IRS990/PYOtherRevenueAmt020989
IRS990/PYProgramServiceRevenueAmt0330428
IRS990/PYRevenuesLessExpensesAmt0-30454
IRS990/PYSalariesCompEmpBnftPaidAmt0131628
IRS990/PYTotalExpensesAmt0391004
IRS990/PYTotalRevenueAmt0360550
IRS990/QuidProQuoContributionsInd0true
IRS990/QuidProQuoContriDisclInd0true
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt041875
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0422808
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/RelatedOrExemptFuncIncomeAmt09340
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt09340
IRS990/SavingsAndTempCashInvstGrp/BOYAmt045557
IRS990/SavingsAndTempCashInvstGrp/EOYAmt071270
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt01000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt08800
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt09100
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt08300
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt051000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt078200
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0774
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0333
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt085
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt06
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt08
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt01206
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt01973507
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.98480
IRS990ScheduleA/PublicSupportPY170Pct00.99650
IRS990ScheduleA/PublicSupportTotal170Amt078200
IRS990ScheduleA/SubstantialContributorsTotAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt01000
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt08800
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt09100
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt08300
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt051000
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt078200
IRS990ScheduleA/TotalSupportAmt079406
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt016218
IRS990ScheduleD/EquipmentGrp/DepreciationAmt070068
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt086286
IRS990ScheduleD/ExpensesSubtotalAmt0397125
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/NetUnrealizedGainsInvstAmt012069
IRS990ScheduleD/RevenueNotReportedAmt012069
IRS990ScheduleD/RevenueSubtotalAmt0439000
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Organization is exempt from Federal and State income taxes under Section 501(c)(3) of the Internal Revenue Code, therefore, the financial statements do not include a provision for income taxes. The Organization reviews income tax positions taken or expected to be taken in income tax returns to determine if there are any income tax uncertainties. This includes positions that the entity is exempt from income taxes or not subject to income taxes on unrelated business income. The Organization recognizes tax benefits from uncertain tax positions only if it is more likely than not that the tax positions will be sustained on examination by taxing authorities, based on the technical merits of the positions. The Organization has identified no significant income tax uncertainties. The Organization files information returns as a tax-exempt organization. Should that status be challenged in the future, all years since inception could be subject to review by the IRS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
IRS990ScheduleD/TotalBookValueLandBuildingsAmt016218
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0219793
IRS990ScheduleD/TotalExpensesPerForm990Amt0397125
IRS990ScheduleD/TotalRevenuePerForm990Amt0439000
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0451069
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0397125
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD OF DIRECTORS RECEIVES AN ELECTRONIC COPY OF THE 990 FOR REVIEW AND APPROVAL BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1REVIEW MATERIALS ARE ISSUED TO THE BOARD OF DIRECTORS IN DECEMBER AND ARE DUE BACK TO THE COMPENSATION COMMITTEE BY FEBRUARY. EXECUTIVE SESSION OF THE BOARD OF DIRECTOS MEETS TO DETERMINE THE COMPENSATION RECOMMENDATION TO BE MADE TO THE ENTIRE BOARD. MEMBERS OF THE BOARD OF DIRECTORS MEET WITH THE EXECUTIVE DIRECTOR FOR AN ANNUAL REVIEW OF PERFORAMNCE AND A FINAL DECSION IS MADE ON THE COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE 990 CAN BE ACQUIRED THROUGH THE GUIDESTAR.ORG WEBSITE OR THE ILLINOIS ATTORNEY GENERAL WEBSITE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3PROVIDED UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 18: Explanation of Other Means Forms Available For Public Inspection
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0IL
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt044500
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0491749
IRS990/TotalAssetsEOYAmt0537116
IRS990/TotalAssetsGrp/BOYAmt0491749
IRS990/TotalAssetsGrp/EOYAmt0537116
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt01000
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt054430

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