Civic Intelligence

The American Venous Forum Foundation

990 • Fiscal year 2018 • EIN 36-3634626

Jan 01, 2018 to Dec 31, 2018 • Filed on Oct 31, 2019

1061 E Main Street Suite 300East Dundee, IL 60118

(847) 752-6245

Siviq Scores

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

Liabilities / Assets

76th percentile

0.26x

Higher debt load relative to assets than 76% of similar nonprofits.

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

Liabilities / Revenue

92nd percentile

1.50x

Higher debt load relative to revenue than 92% of similar nonprofits.

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

Net Margin

5th percentile

-67%

Higher net margin than 5% of similar nonprofits.

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

Top Officer Pay

50th percentile

$0

Higher top officer pay than 50% of similar nonprofits.

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

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

Asset Growth

15th percentile

-12%

Faster asset growth than 15% of similar nonprofits.

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

Revenue Growth

5th percentile

-50%

Faster revenue growth than 5% of similar nonprofits.

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

Assets

Down

$879,354

Down $123,811 (-12%) from 2017

Net Assets

Down

$650,092

Down $202,673 (-24%) from 2017

Liabilities

Up

$229,262

Up $78,862 (+52%) from 2017

Revenue

Down

$152,583

Down $149,595 (-50%) from 2017

Expenses

Down

$255,256

Down $201,564 (-44%) from 2017

Net Income

Up

-$102,673

Up $51,969 (+34%) from 2017

Historical Trend

Balance Sheet Trend

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2010: $984,123Liabilities 2010: $89,222Net Assets 2010: $894,9012010Assets 2011: $788,018Liabilities 2011: $112,161Net Assets 2011: $675,8572011Assets 2015: $1,154,176Liabilities 2015: $61,223Net Assets 2015: $1,092,9532015Assets 2017: $1,003,165Liabilities 2017: $150,400Net Assets 2017: $852,7652017Assets 2018: $879,354Liabilities 2018: $229,262Net Assets 2018: $650,0922018Assets 2019: $1,112,939Liabilities 2019: $113,579Net Assets 2019: $999,3602019Assets 2020: $1,353,534Liabilities 2020: $150,070Net Assets 2020: $1,203,4642020Assets 2021: $3,367,586Liabilities 2021: $606,187Net Assets 2021: $2,761,3992021Assets 2022: $3,367,834Liabilities 2022: $953,760Net Assets 2022: $2,414,0742022Assets 2023: $3,699,153Liabilities 2023: $867,357Net Assets 2023: $2,831,7962023Assets 2024: $3,783,079Liabilities 2024: $817,499Net Assets 2024: $2,965,5802024

Highlighted filing

2018

Assets$879,354
Liabilities$229,262
Net Assets$650,092

Operations Trend

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

$2.0M$1.0M$0-$1.0MExpenses 2010: $438,8862010Expenses 2011: $612,2862011Revenue 2015: $755,629Expenses 2015: $432,907Net Income 2015: $322,7222015Revenue 2017: $302,178Expenses 2017: $456,820Net Income 2017: -$154,6422017Revenue 2018: $152,583Expenses 2018: $255,256Net Income 2018: -$102,6732018Revenue 2019: $579,460Expenses 2019: $230,192Net Income 2019: $349,2682019Revenue 2020: $319,032Expenses 2020: $202,174Net Income 2020: $116,8582020Revenue 2021: $821,432Expenses 2021: $270,019Net Income 2021: $551,4132021Revenue 2022: $1,872,691Expenses 2022: $1,743,669Net Income 2022: $129,0222022Revenue 2023: $1,966,257Expenses 2023: $1,869,209Net Income 2023: $97,0482023Revenue 2024: $1,882,387Expenses 2024: $1,965,010Net Income 2024: -$82,6232024

Highlighted filing

2018

Revenue$152,583
Expenses$255,256
Net Income-$102,673
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Oct 31, 2019
Return Version
2018v3.1
Gross Receipts
$158,558
Mission and Program Overview

Mission

The american venous forum foundation is the charitable nonprofit organization of the american venous forum. Working in concert with the american venous forum, the foundation is committed to advancing excellence and innovation in venous and lymphatic health by funding pioneering research, medical education and awareness.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$729,310$708,817▼ $20,493
Cash and Non-Interest-Bearing Accounts$123,855$88,711▼ $35,144
Pledges and Grants Receivable-$50,000-
Accounts Receivable$150,000$31,826▼ $118,174
Total Assets$1,003,165$879,354▼ $123,811
Liabilities
Grants Payable$150,000$220,000▲ $70,000
Accounts Payable and Accrued Expenses$400$9,262▲ $8,862
Total Liabilities$150,400$229,262▲ $78,862
Net Assets / Fund Balance
Unrestricted Net Assets$789,272$624,340▼ $164,932
Temporarily Rstr Net Assets$63,493$25,752▼ $37,741
Total Net Assets Fund Balance$852,765$650,092▼ $202,673
Total Liabilities and Net Assets / Fund Balance$1,003,165$879,354▼ $123,811
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$164,972
Program Service Revenue
$0
Investment Income
$-20,493
Other Revenue
$8,104
All Other Contributions
$164,972
Change in Net Assets
$-102,673
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$155,256
Grants and Similar Amounts Paid$100,000
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management-$102,410-$102,410
Grants to Domestic Orgs$100,000--$100,000
Travel$11,286$9,497-$20,783
Fees for Services Accounting-$18,530-$18,530
Fees for Services Other-$7,005-$7,005
Advertising-$1,730-$1,730
Insurance-$750-$750
Fees for Services Legal-$235-$235
Office Expenses-$80-$80
Information Technology-$40-$40
Other Expenses-$13-$13
Total Functional Expenses$111,286$143,970$0$255,256
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
The American Venous ForumEast Dundee, IL-Bsn-jobst Research$100,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$13,779
Fundraising Direct Expenses$5,975
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
Audit committee
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
No
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

The foundation has contracted with veritas meeting solutions, inc. To provide administration and event management services.

Form 990, Page 6, Part VI, Line 7A

In case of a vacancy for any reason in any at-large directorship (including, without limitation, the death, resignation or removal) before the expiration of the term of such at-large directorship, the sole member may choose to leave the position vacant or may appoint an eligible voting member of the sole member as successor to serve for the unexpired portion of the term of the vacant at-large directorship.

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

An independent certified public accounting firm prepares the foundation's form 990 and submits the form to the society's management company for review. The management company submits the form to the society's treasure for review. An electronic copy of the form is also provided to all voting members of the board for review. Questions and comments on the form by the treasurer and board are directed back to the accounting firm and management company for resolution. After all discussion points are resolved, the forms are finalized and provided to the treasurer for final review and signature.

Form 990, Page 6, Part VI, Line 19

AVAILABLE UPON REQUEST.

Filing and Contact Details

Filer

Filer Name
The American Venous Forum
EIN
36-3634626
Phone
8477526245
Address
1061 E MAIN STREET SUITE 300, EAST DUNDEE, IL 60118

Signing Officer

Name
John Forbes
Title
Executive Director
Phone
8477526245
Signed
2019-10-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Elna Masuda Md
Voting Board Members
15
Independent Board Members
15
Employees
0

Preparer

Firm
MILLER VERCHOTA INC CPA'S
Address
444 N IL ROUTE 31 SUITE 104, CRYSTAL LAKE, IL 60012
Preparer
Mary R Miller Cpaabv
Phone
8154778000
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The american venous forum foundation is the charitable nonprofit organization of the american venous forum. Working in concert with the american venous forum, the foundation is committed to advancing excellence and innovation in venous and lymphatic health by funding pioneering research, medical education and awareness.

Financial Statement Notes

Schedule D, Page 3, Part X

The foundation is a not-for-profit organization exempt from federal income taxes under the internal revenue code section 501(c)(3); therefore, no provision for income taxes has been made in these financial statements.

Schedule D, Page 4, Part XIII

The most significant tax positions of the foundation are its assertion that it is exempt from income taxes and its determination of whether any amounts are subject to unrelated business tax (ubit). All significant tax positions have been considered by management. It has been determined that it is more likely than not that all tax positions would be sustained upon examination by taxing authorities. The foundation files information returns in the u.s. Federal jurisdiction. The foundation is no longer subject to u.s. Federal examinations by tax authorities for years before 2013.

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IRS990/OtherExpensesGrp/Desc1BANK FEES
IRS990/OtherExpensesGrp/Desc2GRANT ADMINSTRATION FEE
IRS990/OtherExpensesGrp/Desc3LICENSES AND PERMITS
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1660
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt2295
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt313
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IRS990/OtherExpensesGrp/TotalAmt1660
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IRS990/OtherExpensesGrp/TotalAmt313
IRS990/OtherRevenueMiscGrp/Desc0OTHER REVENUE
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IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0300
IRS990/OtherRevenueTotalAmt0300
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IRS990/PledgesAndGrantsReceivableGrp/EOYAmt050000
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0ELNA MASUDA MD
IRS990/PriorPeriodAdjustmentsAmt0-100000
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgSrvcAccomActy2Grp/Desc0THE FOUNDATION PROVIDES TWO MAJOR AWARDS: THE BSN JOBST RESERACH AWARD AND THE SERVIER FELLOWSHIP
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0111286
IRS990/ProgSrvcAccomActy2Grp/GrantAmt0100000
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IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt0350671
IRS990/PYInvestmentIncomeAmt087560
IRS990/PYOtherExpensesAmt0106149
IRS990/PYOtherRevenueAmt0925
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IRS990/PYTotalExpensesAmt0456820
IRS990/PYTotalRevenueAmt0302178
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE SUPPORTED ORGANIZATION IS REQUIRED TO FURNISH THEIR IRS LETTER OF DETERMINATION AND PROVIDE A COPY OF THEIR ANNUAL ILLINOIS CHARITABLE ORGANIZATION ANNUAL REPORT (AG990-IL.) THIS ANNUAL REPORT PROVIDES THE PERCENTAGES OF REVENUE THAT THE SUPPORTED ORGANIZATION RECEIVES FROM PUBLIC SUPPORT. THIS PUBLIC SUPPORT PERCENTAGE IS REVIEWED TO DETERMINE THAT THE SUPPORTED ORGANIZATION QUALIFIES AS PUBLICLY SUPPORTED.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1THE SUPPORTED ORGANIZATION FURNISHES A COST REPORT DETAILING THE PROGRAM RELATED USE OF GRANTS PROVIDED. THE COST REPORTS ARE TYPICALLY PROVIDED AND REVIEWED AFTER THE PROGRAM ACTIVITY IS COMPLETED. THE SUPPORTED ORGANIZATION ACKNOWLEDGES THE USE OF SUCH FUNDS ON PROGRAM RELATED ACTIVITIES ON ITS WEBSITE.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART IV, SECTION A, LINE 3B
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc1PART IV, SECTION A, LINE 3C
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IRS990ScheduleA/SupportedOrganizationsTotalCnt01
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IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt0100000
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0THE AMERICAN VENOUS FORUM
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IRS990ScheduleA/SupportingOrgType1Ind0X
IRS990ScheduleA/SupportSumAmt0100000
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IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION IS A NOT-FOR-PROFIT ORGANIZATION EXEMPT FROM FEDERAL INCOME TAXES UNDER THE INTERNAL REVENUE CODE SECTION 501(C)(3); THEREFORE, NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THESE FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE MOST SIGNIFICANT TAX POSITIONS OF THE FOUNDATION ARE ITS ASSERTION THAT IT IS EXEMPT FROM INCOME TAXES AND ITS DETERMINATION OF WHETHER ANY AMOUNTS ARE SUBJECT TO UNRELATED BUSINESS TAX (UBIT). ALL SIGNIFICANT TAX POSITIONS HAVE BEEN CONSIDERED BY MANAGEMENT. IT HAS BEEN DETERMINED THAT IT IS MORE LIKELY THAN NOT THAT ALL TAX POSITIONS WOULD BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. THE FOUNDATION FILES INFORMATION RETURNS IN THE U.S. FEDERAL JURISDICTION. THE FOUNDATION IS NO LONGER SUBJECT TO U.S. FEDERAL EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE 2013.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XIII
IRS990ScheduleI/GrantRecordsMaintainedInd0false
IRS990ScheduleI/RecipientTable/CashGrantAmt0100000
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0BSN-JOBST RESEARCH
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0THE AMERICAN VENOUS FORUM
IRS990ScheduleI/RecipientTable/RecipientEIN0363643456
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt01061 E MAIN STREET SUITE 300
IRS990ScheduleI/RecipientTable/USAddress/CityNm0EAST DUNDEE
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0IL
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd060118
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE AMERICAN VENOUS FORUM FOUNDATION IS THE CHARITABLE NONPROFIT ORGANIZATION OF THE AMERICAN VENOUS FORUM. WORKING IN CONCERT WITH THE AMERICAN VENOUS FORUM, THE FOUNDATION IS COMMITTED TO ADVANCING EXCELLENCE AND INNOVATION IN VENOUS AND LYMPHATIC HEALTH BY FUNDING PIONEERING RESEARCH, MEDICAL EDUCATION AND AWARENESS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FOUNDATION HAS CONTRACTED WITH VERITAS MEETING SOLUTIONS, INC. TO PROVIDE ADMINISTRATION AND EVENT MANAGEMENT SERVICES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2IN CASE OF A VACANCY FOR ANY REASON IN ANY AT-LARGE DIRECTORSHIP (INCLUDING, WITHOUT LIMITATION, THE DEATH, RESIGNATION OR REMOVAL) BEFORE THE EXPIRATION OF THE TERM OF SUCH AT-LARGE DIRECTORSHIP, THE SOLE MEMBER MAY CHOOSE TO LEAVE THE POSITION VACANT OR MAY APPOINT AN ELIGIBLE VOTING MEMBER OF THE SOLE MEMBER AS SUCCESSOR TO SERVE FOR THE UNEXPIRED PORTION OF THE TERM OF THE VACANT AT-LARGE DIRECTORSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3AN INDEPENDENT CERTIFIED PUBLIC ACCOUNTING FIRM PREPARES THE FOUNDATION'S FORM 990 AND SUBMITS THE FORM TO THE SOCIETY'S MANAGEMENT COMPANY FOR REVIEW. THE MANAGEMENT COMPANY SUBMITS THE FORM TO THE SOCIETY'S TREASURE FOR REVIEW. AN ELECTRONIC COPY OF THE FORM IS ALSO PROVIDED TO ALL VOTING MEMBERS OF THE BOARD FOR REVIEW. QUESTIONS AND COMMENTS ON THE FORM BY THE TREASURER AND BOARD ARE DIRECTED BACK TO THE ACCOUNTING FIRM AND MANAGEMENT COMPANY FOR RESOLUTION. AFTER ALL DISCUSSION POINTS ARE RESOLVED, THE FORMS ARE FINALIZED AND PROVIDED TO THE TREASURER FOR FINAL REVIEW AND SIGNATURE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SubjectToProxyTaxInd0false
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IRS990/TaxablePartyNotificationInd0false
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0111286
IRS990/TotalFunctionalExpensesGrp/TotalAmt0255256
IRS990/TotalGrossUBIAmt00
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IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0-20193
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0152583
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0879354
IRS990/TravelGrp/ManagementAndGeneralAmt09497
IRS990/TravelGrp/ProgramServicesAmt011286
IRS990/TravelGrp/TotalAmt020783
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IRS990/TypeOfOrganizationCorpInd0X
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IRS990/WebsiteAddressTxt0WWW.VEINFORUM.ORG/AVF-FOUNDATION/
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02020-03-31 21:24:44Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JOHN FORBES

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