Civic Intelligence

The American Venous Forum

990 • Fiscal year 2017 • EIN 36-3643456

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 15, 2018

2800 W Higgins RoadHoffman Estates, IL 60169

(727) 350-1580

Siviq Scores

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

Liabilities / Assets

39th percentile

0.10x

Higher debt load relative to assets than 39% of similar nonprofits.

2017 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

46th percentile

0.15x

Higher debt load relative to revenue than 46% of similar nonprofits.

2017 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2017

Net Margin

18th percentile

-4.7%

Higher net margin than 18% of similar nonprofits.

2017 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

23rd percentile

$0

Higher top officer pay than 23% of similar nonprofits.

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

2017 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2017

Asset Growth

13th percentile

-8.8%

Faster asset growth than 13% of similar nonprofits.

2017 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2015 to 2017

Revenue Growth

13th percentile

-10%

Faster revenue growth than 13% of similar nonprofits.

2017 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2015 to 2017

Assets

Down

$1,473,711

Down $299,121 (-17%) from 2015

Net Assets

Down

$1,319,178

Down $126,932 (-8.8%) from 2015

Liabilities

Down

$154,533

Down $172,189 (-53%) from 2015

Revenue

Down

$1,014,695

Down $248,253 (-20%) from 2015

Expenses

Up

$1,062,076

Up $119,270 (+13%) from 2015

Net Income

Down

-$47,381

Down $367,523 (-115%) from 2015

Historical Trend

Balance Sheet Trend

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

$2.0M$1.5M$1.0M$500K$0Assets 2010: $784,531Liabilities 2010: $120,099Net Assets 2010: $664,4322010Assets 2011: $699,705Liabilities 2011: $162,951Net Assets 2011: $536,7542011Assets 2015: $1,772,832Liabilities 2015: $326,722Net Assets 2015: $1,446,1102015Assets 2017: $1,473,711Liabilities 2017: $154,533Net Assets 2017: $1,319,1782017Assets 2018: $1,342,173Liabilities 2018: $336,371Net Assets 2018: $1,005,8022018Assets 2019: $1,448,364Liabilities 2019: $449,275Net Assets 2019: $999,0892019Assets 2020: $1,456,735Liabilities 2020: $216,856Net Assets 2020: $1,239,8792020Assets 2021: $0Liabilities 2021: $0Net Assets 2021: $02021

Highlighted filing

2017

Assets$1,473,711
Liabilities$154,533
Net Assets$1,319,178

Operations Trend

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

$1.5M$1.0M$500K$0-$500KExpenses 2010: $900,7272010Expenses 2011: $842,2782011Revenue 2015: $1,262,948Expenses 2015: $942,806Net Income 2015: $320,1422015Revenue 2017: $1,014,695Expenses 2017: $1,062,076Net Income 2017: -$47,3812017Revenue 2018: $696,174Expenses 2018: $1,009,550Net Income 2018: -$313,3762018Revenue 2019: $1,017,858Expenses 2019: $1,024,571Net Income 2019: -$6,7132019Revenue 2020: $1,035,504Expenses 2020: $903,941Net Income 2020: $131,5632020Revenue 2021: $1,146,479Expenses 2021: $837,868Net Income 2021: $308,6112021

Highlighted filing

2017

Revenue$1,014,695
Expenses$1,062,076
Net Income-$47,381
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 15, 2018
Return Version
2017v2.2
Gross Receipts
$1,014,695
Mission and Program Overview

Mission

The mission of the avf is to save and improve lives by reducing venous and lymphatic disease through education, innovation research and advocacy, and to empower venous specialists to be the best in the world in assessing and treating venous disease.

Promote venous and lymphatic health through innovative research, education, and technology.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$501,837$643,558▲ $141,721
Investments in Publicly Traded Securities$495,311$553,317▲ $58,006
Cash and Non-Interest-Bearing Accounts$357,593$261,536▼ $96,057
Prepaid Expenses and Deferred Charges-$3,300-
Accounts Receivable$2,000$0▼ $2,000
Other Notes and Loans Receivable, Net-$2,000-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$1,452,781$1,473,711▲ $20,930
Other Assets Total$96,040$10,000▼ $86,040
Liabilities
Deferred Revenue$46,688$151,930▲ $105,242
Accounts Payable and Accrued Expenses$962$2,603▲ $1,641
Total Liabilities$47,650$154,533▲ $106,883
Net Assets / Fund Balance
Unrestricted Net Assets$1,405,131$1,270,332▼ $134,799
Temporarily Rstr Net Assets-$48,846-
Total Net Assets Fund Balance$1,405,131$1,319,178▼ $85,953
Total Liabilities and Net Assets / Fund Balance$1,452,781$1,473,711▲ $20,930
Compensation and Service Providers

Board Members and Trustees

NameTitle
Ruth Bush MdEducation Chair
Jose a Diaz MdResearch Chair
Lowell Kabnick MdPast President
Marc a Passman MdPresident
Elna Masuda MdPresident Elect
Brajesh Lal MdVice President
Anil Hingorani MdDirector
Jose Almeida MdDirector
Joseph Raffetto MdDirector
Patrick Muck MdDirector
William Marston MdArchivist
Glenn Jacobowitz MdRecorder
Harold Welch MdSecretary
Antonios Gasparis MdTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$371,899
Program Service Revenue
$533,314
Investment Income
$109,350
Other Revenue
$132
All Other Contributions
$96,450
Change in Net Assets
$-47,381
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,062,076
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
Conferences and Meetings$359,730$15,445-$375,175
Fees for Services Management-$248,129-$248,129
Fees for Services Other$221,552$3,240-$224,792
Travel$56,338$19,003-$75,341
Fees for Services Accounting-$18,710-$18,710
Information Technology-$18,456-$18,456
All Other Expenses$417$6,357-$6,774
Other Expenses$5,071$237-$5,308
Advertising$2,409$2,319-$4,728
Fees for Services Legal-$4,538-$4,538
Insurance$1,940$1,091-$3,031
Total Functional Expenses$682,236$379,840$0$1,062,076
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
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company

Avf contracts with the center for association resources inc (a for-profit management company) to provide office facilities, management, record keeping, accounting, storage, other related services, and overhead costs. Prior to this, avf had contracted with executive director inc (a for-profit management company) to provide office facilities, management, record keeping, accounting, storage, other related services, and overhead costs.

Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder

The organization has members. Membership in the organization is a privilege and is dependent upon an application submitted by the applicant for one of the 7 different classes of members as documented in the organization's bylaws.

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

A copy of the 990 is made available to all members of the governing body before it's filed. The form is reviewed in detail by the finance committee and treasurer of the organization.

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

The organization is managed by the center for association resources inc, a for-profit management company. The organization has no official employees because all staff assigned to the organization are employees of the management company. The organization does not compensate directors, other top officials, nor has anybody that fits the definition of a key employee. The management contract includes providing office facilities, management, record-keeping, accounting, storage, other significant services, and related overhead costs. The organizations management fee is compared to data from the benchmarking series publication-operating ratio report provided by asae & the center industry research and is approved by the organization's board of directors. The data outlines percentages of an organization's budget spent on expense line items included in the organization's management fee.

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

The organization is managed by the center for association resources inc, a for-profit management company. The organization has no official employees because all staff assigned to the organization are employees of the management company. The organization does not compensate directors, other top officials, nor has anybody that fits the definition of a key employee. The management contract includes providing office facilities, management, record-keeping, accounting, storage, other significant services, and related overhead costs. The organizations management fee is compared to data from the benchmarking series publication-operating ratio report provided by asae & the center industry research and is approved by the organization's board of directors. The data outlines percentages of an organization's budget spent on expense line items included in the organization's management fee.

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

All of the organization's governing documents are either available on its website or upon request at the home office.

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 American Venous Forum
EIN
36-3643456
Phone
7273501580
Address
2800 W HIGGINS ROAD, HOFFMAN ESTATES, IL 60169

Signing Officer

Name
John Forbes
Title
Interim Executive Dr
Signed
2018-11-15
Discuss with paid preparer
Yes

Organization Details

Formed
1988
Legal Domicile
Il
Voting Board Members
14
Independent Board Members
14
Employees
0

Preparer

Firm
Manning Silverman & Company
Address
175 Olde Half Day Road 290, Lincolnshire, IL 60069
Preparer
Wayne E Silverman
Phone
8474598850
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

The forum is generally exempt from income taxes under the provisions of section 501(c)6 of the internal revenue code and similar state statutes. Accordingly, no provision for income tax expense is included in the accompanying combined financial statements.the organization has adopted the provision of asc topic 740, income taxes, relating to the accounting for uncertainty in income taxes. The organizations file income tax returns in the us federal jurisdiction, and the foundation also files an organization annual report in the state of illinois. Management is not aware of any uncertain tax positions.

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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt11712
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt2237
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FORUM IS GENERALLY EXEMPT FROM INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)6 OF THE INTERNAL REVENUE CODE AND SIMILAR STATE STATUTES. ACCORDINGLY, NO PROVISION FOR INCOME TAX EXPENSE IS INCLUDED IN THE ACCOMPANYING COMBINED FINANCIAL STATEMENTS.THE ORGANIZATION HAS ADOPTED THE PROVISION OF ASC TOPIC 740, INCOME TAXES, RELATING TO THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THE ORGANIZATIONS FILE INCOME TAX RETURNS IN THE US FEDERAL JURISDICTION, AND THE FOUNDATION ALSO FILES AN ORGANIZATION ANNUAL REPORT IN THE STATE OF ILLINOIS. MANAGEMENT IS NOT AWARE OF ANY UNCERTAIN TAX POSITIONS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0AVF CONTRACTS WITH THE CENTER FOR ASSOCIATION RESOURCES INC (A FOR-PROFIT MANAGEMENT COMPANY) TO PROVIDE OFFICE FACILITIES, MANAGEMENT, RECORD KEEPING, ACCOUNTING, STORAGE, OTHER RELATED SERVICES, AND OVERHEAD COSTS. PRIOR TO THIS, AVF HAD CONTRACTED WITH EXECUTIVE DIRECTOR INC (A FOR-PROFIT MANAGEMENT COMPANY) TO PROVIDE OFFICE FACILITIES, MANAGEMENT, RECORD KEEPING, ACCOUNTING, STORAGE, OTHER RELATED SERVICES, AND OVERHEAD COSTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION HAS MEMBERS. MEMBERSHIP IN THE ORGANIZATION IS A PRIVILEGE AND IS DEPENDENT UPON AN APPLICATION SUBMITTED BY THE APPLICANT FOR ONE OF THE 7 DIFFERENT CLASSES OF MEMBERS AS DOCUMENTED IN THE ORGANIZATION'S BYLAWS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A COPY OF THE 990 IS MADE AVAILABLE TO ALL MEMBERS OF THE GOVERNING BODY BEFORE IT'S FILED. THE FORM IS REVIEWED IN DETAIL BY THE FINANCE COMMITTEE AND TREASURER OF THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION IS MANAGED BY THE CENTER FOR ASSOCIATION RESOURCES INC, A FOR-PROFIT MANAGEMENT COMPANY. THE ORGANIZATION HAS NO OFFICIAL EMPLOYEES BECAUSE ALL STAFF ASSIGNED TO THE ORGANIZATION ARE EMPLOYEES OF THE MANAGEMENT COMPANY. THE ORGANIZATION DOES NOT COMPENSATE DIRECTORS, OTHER TOP OFFICIALS, NOR HAS ANYBODY THAT FITS THE DEFINITION OF A KEY EMPLOYEE. THE MANAGEMENT CONTRACT INCLUDES PROVIDING OFFICE FACILITIES, MANAGEMENT, RECORD-KEEPING, ACCOUNTING, STORAGE, OTHER SIGNIFICANT SERVICES, AND RELATED OVERHEAD COSTS. THE ORGANIZATIONS MANAGEMENT FEE IS COMPARED TO DATA FROM THE BENCHMARKING SERIES PUBLICATION-OPERATING RATIO REPORT PROVIDED BY ASAE & THE CENTER INDUSTRY RESEARCH AND IS APPROVED BY THE ORGANIZATION'S BOARD OF DIRECTORS. THE DATA OUTLINES PERCENTAGES OF AN ORGANIZATION'S BUDGET SPENT ON EXPENSE LINE ITEMS INCLUDED IN THE ORGANIZATION'S MANAGEMENT FEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION IS MANAGED BY THE CENTER FOR ASSOCIATION RESOURCES INC, A FOR-PROFIT MANAGEMENT COMPANY. THE ORGANIZATION HAS NO OFFICIAL EMPLOYEES BECAUSE ALL STAFF ASSIGNED TO THE ORGANIZATION ARE EMPLOYEES OF THE MANAGEMENT COMPANY. THE ORGANIZATION DOES NOT COMPENSATE DIRECTORS, OTHER TOP OFFICIALS, NOR HAS ANYBODY THAT FITS THE DEFINITION OF A KEY EMPLOYEE. THE MANAGEMENT CONTRACT INCLUDES PROVIDING OFFICE FACILITIES, MANAGEMENT, RECORD-KEEPING, ACCOUNTING, STORAGE, OTHER SIGNIFICANT SERVICES, AND RELATED OVERHEAD COSTS. THE ORGANIZATIONS MANAGEMENT FEE IS COMPARED TO DATA FROM THE BENCHMARKING SERIES PUBLICATION-OPERATING RATIO REPORT PROVIDED BY ASAE & THE CENTER INDUSTRY RESEARCH AND IS APPROVED BY THE ORGANIZATION'S BOARD OF DIRECTORS. THE DATA OUTLINES PERCENTAGES OF AN ORGANIZATION'S BUDGET SPENT ON EXPENSE LINE ITEMS INCLUDED IN THE ORGANIZATION'S MANAGEMENT FEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ALL OF THE ORGANIZATION'S GOVERNING DOCUMENTS ARE EITHER AVAILABLE ON ITS WEBSITE OR UPON REQUEST AT THE HOME OFFICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Line 18: Explanation of Other Means Forms Available For Public Inspection
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0THE AMERICAN VENOUS FORUM FOUNDATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0363634626
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501c3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0IL

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