Civic Intelligence

Marwen Foundation Inc

990 • Fiscal year 2019 • EIN 36-3523622

Jan 01, 2019 to Dec 31, 2019 • Filed on Jun 05, 2020

833 North Orleans StreetChicago, IL 60610

(312) 944-2418

Siviq Scores

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

Liabilities / Assets

50th percentile

0.20x

Higher debt load relative to assets than 50% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Liabilities / Revenue

88th percentile

1.99x

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

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Net Margin

9th percentile

-24%

Higher net margin than 9% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Top Officer Pay

36th percentile

$139,722

Higher top officer pay than 36% of similar nonprofits.

Top officer pay equals 7.1% of source-year revenue.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Asset Growth

54th percentile

4.8%

Faster asset growth than 54% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Revenue Growth

12th percentile

-25%

Faster revenue growth than 12% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Assets

Up

$19,767,021

Up $899,070 (+4.8%) from 2018

Net Assets

Up

$15,857,662

Up $826,665 (+5.5%) from 2018

Liabilities

Up

$3,909,359

Up $72,405 (+1.9%) from 2018

Revenue

Down

$1,968,969

Down $651,138 (-25%) from 2018

Expenses

Down

$2,444,988

Down $209,713 (-7.9%) from 2018

Net Income

Down

-$476,019

Down $441,425 (-1276%) from 2018

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2010: $11,597,459Liabilities 2010: $5,218,156Net Assets 2010: $6,379,3032010Assets 2011: $11,392,653Liabilities 2011: $5,222,795Net Assets 2011: $6,169,8582011Assets 2012: $15,824,577Liabilities 2012: $5,205,140Net Assets 2012: $10,619,4372012Assets 2013: $18,765,835Liabilities 2013: $5,235,593Net Assets 2013: $13,530,2422013Assets 2014: $19,376,041Liabilities 2014: $5,229,916Net Assets 2014: $14,146,1252014Assets 2015: $20,640,203Liabilities 2015: $5,205,646Net Assets 2015: $15,434,5572015Assets 2016: $20,279,621Liabilities 2016: $5,021,954Net Assets 2016: $15,257,6672016Assets 2017: $20,555,589Liabilities 2017: $4,143,762Net Assets 2017: $16,411,8272017Assets 2018: $18,867,951Liabilities 2018: $3,836,954Net Assets 2018: $15,030,9972018Assets 2019: $19,767,021Liabilities 2019: $3,909,359Net Assets 2019: $15,857,6622019Assets 2020: $20,555,233Liabilities 2020: $3,932,803Net Assets 2020: $16,622,4302020Assets 2021: $21,640,226Liabilities 2021: $4,025,187Net Assets 2021: $17,615,0392021Assets 2022: $19,480,884Liabilities 2022: $3,929,789Net Assets 2022: $15,551,0952022Assets 2023: $19,910,422Liabilities 2023: $3,851,566Net Assets 2023: $16,058,8562023Assets 2024: $20,683,794Liabilities 2024: $4,006,704Net Assets 2024: $16,677,0902024

Highlighted filing

2019

Assets$19,767,021
Liabilities$3,909,359
Net Assets$15,857,662

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $1,862,9922010Expenses 2011: $2,100,3512011Expenses 2012: $2,084,3992012Revenue 2013: $4,374,904Expenses 2013: $2,199,433Net Income 2013: $2,175,4712013Revenue 2014: $2,823,948Expenses 2014: $2,641,765Net Income 2014: $182,1832014Revenue 2015: $3,704,082Expenses 2015: $2,673,893Net Income 2015: $1,030,1892015Revenue 2016: $2,281,504Expenses 2016: $2,791,850Net Income 2016: -$510,3462016Revenue 2017: $3,231,586Expenses 2017: $2,669,179Net Income 2017: $562,4072017Revenue 2018: $2,620,107Expenses 2018: $2,654,701Net Income 2018: -$34,5942018Revenue 2019: $1,968,969Expenses 2019: $2,444,988Net Income 2019: -$476,0192019Revenue 2020: $2,137,194Expenses 2020: $2,408,258Net Income 2020: -$271,0642020Revenue 2021: $2,262,448Expenses 2021: $2,429,749Net Income 2021: -$167,3012021Revenue 2022: $2,057,035Expenses 2022: $2,907,075Net Income 2022: -$850,0402022Revenue 2023: $2,310,365Expenses 2023: $2,736,966Net Income 2023: -$426,6012023Revenue 2024: $3,657,950Expenses 2024: $2,776,588Net Income 2024: $881,3622024

Highlighted filing

2019

Revenue$1,968,969
Expenses$2,444,988
Net Income-$476,019
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Jun 5, 2020
Return Version
2019v5.1
Gross Receipts
$4,231,129
Mission and Program Overview

Mission

Marwen educates and inspires young people from under-resourced communities and schools through free visual arts programs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$8,665,775$10,280,010▲ $1,614,235
Land, Buildings, and Equipment, Net$9,051,639$8,680,853▼ $370,786
Pledges and Grants Receivable$603,521$328,298▼ $275,223
Cash and Non-Interest-Bearing Accounts$370,288$317,325▼ $52,963
Prepaid Expenses and Deferred Charges$30,203$30,055▼ $148
Accounts Receivable$5,479$5,106▼ $373
Total Assets$18,867,951$19,767,021▲ $899,070
Other Assets Total$141,046$125,374▼ $15,672
Liabilities
Tax Exempt Bond Liabilities$3,688,257$3,693,192▲ $4,935
Accounts Payable and Accrued Expenses$148,697$216,167▲ $67,470
Total Liabilities$3,836,954$3,909,359▲ $72,405
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$13,202,808$14,826,238▲ $1,623,430
Net Assets With Donor Restrictions$1,828,189$1,031,424▼ $796,765
Total Net Assets Fund Balance$15,030,997$15,857,662▲ $826,665
Total Liabilities and Net Assets / Fund Balance$18,867,951$19,767,021▲ $899,070

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$7,133,166$2,225,956$9,359,122
Land$1,335,613-$1,335,613
Equipment$212,074$466,624$678,698
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Akilah A HalleyExecutive DirectorFT$136,314$3,408$139,722
Wes MoranDirector of Finance and OperaFT$106,000$2,650$108,650

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$1,718,514
Program Service Revenue
$45,288
Investment Income
$327,197
Other Revenue
$-122,030
All Other Contributions
$1,012,255
Change in Net Assets
$-476,019

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
Other Non Cash Contri Table261$38,161Fair Market Value (FMV)
Total Noncash Contributions261$38,161-

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,930,808
Revenue Not Reported on Financial Statements
$38,161
Revenue Not Reported on Form 990
$1,516,734
Other Revenue Adjustments
$38,161
Total Revenue per Audited Statements
$3,447,542
Total Revenue per Form 990
$1,968,969
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,384,642
Other Expenses$1,060,346
Total Fundraising Expense$359,425
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$695,858$28,820$214,099$938,777
Fees for Services Other$336,246$7,575$48,120$391,941
Depreciation Depletion$257,697$6,781$6,781$271,259
Current Officers, Directors, Trustees, and Key Employees$126,521$95,460$20,958$242,939
Interest$106,709$2,809$2,809$112,327
Other Employee Benefits$76,057$9,468$22,405$107,930
Payroll Taxes$66,033$9,842$19,121$94,996
Occupancy$65,027$1,657$1,657$68,341
Information Technology$30,898$1,671$3,414$35,983
Office Expenses$13,395$1,634$7,691$22,720
Insurance$16,728$3,490$440$20,658
Conferences and Meetings$16,300$3,508$45$19,853
Travel$12,971$139$542$13,652
Other Expenses$3,294$7,637$190$11,121
Total Functional Expenses$1,904,175$181,388$359,425$2,444,988

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,620,877
Total Expenses per Form 990$2,444,988
Expenses per Audited Statements$2,406,827
Expenses Not Reported on Form 990$214,050
Expenses Not Reported on Financial Statements$38,161
Other Expense Adjustments$38,161
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$212,254
Fundraising Gross Income$98,471
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
DinnerAucti$611,457$75,050$73,879$1,171
Art Fair$86,653$23,421$4,370$19,051
Total Events$698,110$98,471$212,254$-113,783
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Bond Issues

BondIssuerIssuedIssue PricePurpose
AIllinois Finance Authority2008-08-01$5,080,000See Schedule K Part VI

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$5,080,000-$1,270,000-

Bond Financing Compliance

No rebate due
Yes
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
Yes
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 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
Yes
Other officer compensation reviewed
Yes
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 governing body review Part VI line 11

The Board of Trustees has delegated the authority to review and approve Marwens Form 990 to the Finance Committee. All Trustees are provided a complete copy after approval for a final review prior to filing the form.

Conflict of interest policy compliance Part VI line 12C

Officers and Trustees are required to complete a Conflict of Interest Statement each year identifying any interest that could give rise to conflicts. These forms are reviewed and lists of potential conflicts are prepared and used to monitor the Officers and Trustees involvement with decisions throughout the year. If a matter is brought before the board regarding a company where an Officer or Trustee has a conflict, the Officer or Trustee would be asked to recuse him/herself.

CEO executive director top management comp Part VI line 15A

Periodically, a salary survey is conducted to include compensation of the top management officials at similarly sized non-profit organizations in the same georgraphic locale. This survey is provided to the executive leadership of the Executive Committee of the Board of Trustees. In addition, independent non-profit salary surveys are reviewed by Board leadership. This includes the Board Chairman and Vice Chairman. These individuals review the performance of the Executive Director over the past year considering progress toward accomplishment of individual and organizational goals, the financial strength of the organization and the salary survey provided. These considerations result in new goals for the upcoming year and decision on compensation. The process was documented.

Other officer or key employee compensation Part VI line 15B

Periodically, a salary survey is conducted to include compensation of the top management officials at similarly sized non-profit organizations in the same georgraphic locale. The performance of these individuals over the past year is reviewed in connection with progress towards accomplishment of individual and organizationas goals, financial strength of the organization and the salary survey provided. These considerations result in new goals for the upcoming year and decision on compensation which is then communicated to the Director of Finance for implementation. The process was documented.

Governing documents etc available to public Part VI line 19

Copies of the organizations audited financial statements are made available on Marwens website. Copies of the organizations governing documents are available to the public upon request at the organizations office for the same period of disclosure as set forth in IRC section 6104 (d).

Filing and Contact Details

Filer

Filer Name
Marwen Foundation Inc
EIN
36-3523622
Address
833 North Orleans Street, Chicago, IL 60610

Signing Officer

Name
Wesley Moran
Title
Director of Fin
Phone
3129442418
Signed
2020-06-05
Discuss with paid preparer
No

Organization Details

Principal Officer
Akilah A Halley
Formed
1987
Legal Domicile
Il
Voting Board Members
32
Independent Board Members
32
Employees
29

Preparer

Firm
Benford Brown & Associates LLC
Address
8334 South Stony Island Ave, Chicago, IL 60617
Preparer
Marcus Gulley
Phone
7737311300
Supplemental Narrative

Additional Explanations

Unrelated business income explanation Part V line 3B

Rental income and related expenses as reported on the 990-T.

List of other fees for services expenses Part IX line 11G

Contracted teaching a course facilitator services - $336,246Contracted development services - $48,120Contracted administrative services - $7,575

Financial Statement Notes

Footnote for uncertain tax position under FIN 48 (Part X)

Marwen adheres to ASC 740, Income Taxes, which prescribes a comprehensive model for how an organization should recognize, measure, present, and disclose in its financial statements uncertain tax positions that the organization has taken or expects to take on a tax return. For federal purposes, Marwen has reported federal net operating losses (NOLs) totaling $85,363 arising from previous years rental activities. These NOLs will expire, if not utilized, beginning in 2021. Marwen has not recorded a tax benefit for these NOLs for the years ended December 31, 2018 and 2017, because it is unlikely that Marwen will be able to realize the benefit.

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IRS990/Form990PartVIISectionAGrp/PersonNm0Steven P Berkowitz
IRS990/Form990PartVIISectionAGrp/PersonNm1Amy G Bluhm
IRS990/Form990PartVIISectionAGrp/PersonNm2Robert Buchsbaum
IRS990/Form990PartVIISectionAGrp/PersonNm3Robert Buono
IRS990/Form990PartVIISectionAGrp/PersonNm4Marcy Carlin
IRS990/Form990PartVIISectionAGrp/PersonNm5Caryn Englander
IRS990/Form990PartVIISectionAGrp/PersonNm6Michael Fassnacht
IRS990/Form990PartVIISectionAGrp/PersonNm7Chris Paloian Fixler
IRS990/Form990PartVIISectionAGrp/PersonNm8Bob Gallo
IRS990/Form990PartVIISectionAGrp/PersonNm9James S Hill III
IRS990/Form990PartVIISectionAGrp/PersonNm10Todd Heiser
IRS990/Form990PartVIISectionAGrp/PersonNm11Andy S Jacobs
IRS990/Form990PartVIISectionAGrp/PersonNm12Molly Morse Limmer
IRS990/Form990PartVIISectionAGrp/PersonNm13Gail F Marks
IRS990/Form990PartVIISectionAGrp/PersonNm14Nils Larsen
IRS990/Form990PartVIISectionAGrp/PersonNm15Lee Oberlander
IRS990/Form990PartVIISectionAGrp/PersonNm16Sally I Pofcher
IRS990/Form990PartVIISectionAGrp/PersonNm17Isa Pressman
IRS990/Form990PartVIISectionAGrp/PersonNm18Suellen Ravanas
IRS990/Form990PartVIISectionAGrp/PersonNm19Elliot K Rawls
IRS990/Form990PartVIISectionAGrp/PersonNm20Katherine Scott
IRS990/Form990PartVIISectionAGrp/PersonNm21Carmita Semaan
IRS990/Form990PartVIISectionAGrp/PersonNm22Britt Nolan
IRS990/Form990PartVIISectionAGrp/PersonNm23Shalini Sharma
IRS990/Form990PartVIISectionAGrp/PersonNm24Ruchika Sohoni
IRS990/Form990PartVIISectionAGrp/PersonNm25Jason Mirach
IRS990/Form990PartVIISectionAGrp/PersonNm26Acasia Wilson Feinberg
IRS990/Form990PartVIISectionAGrp/PersonNm27Hilary Wolfe
IRS990/Form990PartVIISectionAGrp/PersonNm28Chiara Wrocinski
IRS990/Form990PartVIISectionAGrp/PersonNm29Elizabeth Brady
IRS990/Form990PartVIISectionAGrp/PersonNm30Sarah Banasiak
IRS990/Form990PartVIISectionAGrp/PersonNm31Kevin Berg
IRS990/Form990PartVIISectionAGrp/PersonNm32Akilah A Halley
IRS990/Form990PartVIISectionAGrp/PersonNm33Wes Moran
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IRS990/Form990PartVIISectionAGrp/TitleTxt0Director
IRS990/Form990PartVIISectionAGrp/TitleTxt1Director
IRS990/Form990PartVIISectionAGrp/TitleTxt2Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt3Director
IRS990/Form990PartVIISectionAGrp/TitleTxt4Chairman
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
IRS990/Form990PartVIISectionAGrp/TitleTxt9Immediate Past Chairman
IRS990/Form990PartVIISectionAGrp/TitleTxt10Director
IRS990/Form990PartVIISectionAGrp/TitleTxt11Director
IRS990/Form990PartVIISectionAGrp/TitleTxt12Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt13Director
IRS990/Form990PartVIISectionAGrp/TitleTxt14Director
IRS990/Form990PartVIISectionAGrp/TitleTxt15Director
IRS990/Form990PartVIISectionAGrp/TitleTxt16Director
IRS990/Form990PartVIISectionAGrp/TitleTxt17Vice Chairman
IRS990/Form990PartVIISectionAGrp/TitleTxt18Director
IRS990/Form990PartVIISectionAGrp/TitleTxt19Director
IRS990/Form990PartVIISectionAGrp/TitleTxt20Director
IRS990/Form990PartVIISectionAGrp/TitleTxt21Director
IRS990/Form990PartVIISectionAGrp/TitleTxt22Director
IRS990/Form990PartVIISectionAGrp/TitleTxt23Director
IRS990/Form990PartVIISectionAGrp/TitleTxt24Director
IRS990/Form990PartVIISectionAGrp/TitleTxt25Director
IRS990/Form990PartVIISectionAGrp/TitleTxt26Director
IRS990/Form990PartVIISectionAGrp/TitleTxt27Director
IRS990/Form990PartVIISectionAGrp/TitleTxt28Director
IRS990/Form990PartVIISectionAGrp/TitleTxt29Director
IRS990/Form990PartVIISectionAGrp/TitleTxt30Director
IRS990/Form990PartVIISectionAGrp/TitleTxt31Director
IRS990/Form990PartVIISectionAGrp/TitleTxt32Executive Director
IRS990/Form990PartVIISectionAGrp/TitleTxt33Director of Finance and Opera
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$20.7$4.01$16.7$3.66$2.78$0.88
2023Detailed filing. Detailed filing data is available for this year.$19.9$3.85$16.1$2.31$2.74$0.43
2022Detailed filing. Detailed filing data is available for this year.$19.5$3.93$15.6$2.06$2.91$0.85
2021Detailed filing. Detailed filing data is available for this year.$21.6$4.03$17.6$2.26$2.43$0.17
2020Detailed filing. Detailed filing data is available for this year.$20.6$3.93$16.6$2.14$2.41$0.27
2019Detailed filing. Detailed filing data is available for this year.$19.8$3.91$15.9$1.97$2.44$0.48
2018Detailed filing. Detailed filing data is available for this year.$18.9$3.84$15.0$2.62$2.65$0.03
2017Detailed filing. Detailed filing data is available for this year.$20.6$4.14$16.4$3.23$2.67$0.56
2016Detailed filing. Detailed filing data is available for this year.$20.3$5.02$15.3$2.28$2.79$0.51
2015Detailed filing. Detailed filing data is available for this year.$20.6$5.21$15.4$3.70$2.67$1.03
2014Detailed filing. Detailed filing data is available for this year.$19.4$5.23$14.1$2.82$2.64$0.18
2013Detailed filing. Detailed filing data is available for this year.$18.8$5.24$13.5$4.37$2.20$2.18
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.8$5.21$10.6$2.08
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.4$5.22$6.17$2.10
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.6$5.22$6.38$1.86