Civic Intelligence

Seize the Future Development Foundation

990 • Fiscal year 2016 • EIN 36-4573388

Jul 01, 2015 to Jun 30, 2016 • Filed on Nov 15, 2016

Organization ProfileWWW.INVESTAURORA.ORG
43 West Galena BlvdAurora, IL 60506

(630) 256-3160

Siviq Scores

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

Liabilities / Assets

50th percentile

0.04x

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

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Liabilities / Revenue

48th percentile

0.03x

Higher debt load relative to revenue than 48% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Net Margin

25th percentile

-7.5%

Higher net margin than 25% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Top Officer Pay

94th percentile

$154,666

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 18.3% of source-year revenue.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Asset Growth

37th percentile

-1.7%

Faster asset growth than 37% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2014 to 2016

Revenue Growth

27th percentile

-8.8%

Faster revenue growth than 27% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2014 to 2016

Balance Sheet
Liabilities / Assets50th percentile

Assets

Down

$672,011

Down $23,252 (-3.3%) from 2014

Net Assets

Down

$645,440

Down $49,266 (-7.1%) from 2014

Liabilities

Up

$26,571

Up $26,014 (+4670%) from 2014

Revenue And Expenses
Liabilities / Revenue48th percentileNet Margin25th percentile

Revenue

Down

$847,199

Down $171,943 (-17%) from 2014

Expenses

Up

$910,911

Up $510,272 (+127%) from 2014

Net Income

Down

-$63,712

Down $682,215 (-110%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth37th percentile

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2012: $247,460Net Assets 2012: $247,4602012Assets 2013: $94,819Liabilities 2013: $18,616Net Assets 2013: $76,2032013Assets 2014: $695,263Liabilities 2014: $557Net Assets 2014: $694,7062014Assets 2016: $672,011Liabilities 2016: $26,571Net Assets 2016: $645,4402016Assets 2017: $2,195,465Liabilities 2017: $27,611Net Assets 2017: $2,167,8542017Assets 2018: $2,674,263Liabilities 2018: $23,571Net Assets 2018: $2,650,6922018Assets 2019: $2,297,920Liabilities 2019: $50,249Net Assets 2019: $2,247,6712019Assets 2020: $2,405,216Liabilities 2020: $251,176Net Assets 2020: $2,154,0402020Assets 2021: $2,783,918Liabilities 2021: $177,168Net Assets 2021: $2,606,7502021Assets 2022: $2,921,280Liabilities 2022: $209,379Net Assets 2022: $2,711,9012022Assets 2023: $3,398,655Liabilities 2023: $71,775Net Assets 2023: $3,326,8802023Assets 2024: $3,236,289Liabilities 2024: $43,834Net Assets 2024: $3,192,4552024

Highlighted filing

2016

Assets$672,011
Liabilities$26,571
Net Assets$645,440
Open 2016 Filing

Operations Trend

Revenue Growth27th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2012: $1,778Expenses 2012: $161,028Net Income 2012: -$159,2502012Revenue 2013: $4,264Expenses 2013: $175,521Net Income 2013: -$171,2572013Revenue 2014: $1,019,142Expenses 2014: $400,639Net Income 2014: $618,5032014Revenue 2016: $847,199Expenses 2016: $910,911Net Income 2016: -$63,7122016Revenue 2017: $2,515,828Expenses 2017: $993,414Net Income 2017: $1,522,4142017Revenue 2018: $1,525,060Expenses 2018: $1,042,222Net Income 2018: $482,8382018Revenue 2019: $760,138Expenses 2019: $1,163,159Net Income 2019: -$403,0212019Revenue 2020: $1,022,623Expenses 2020: $1,116,254Net Income 2020: -$93,6312020Revenue 2021: $1,506,538Expenses 2021: $1,053,828Net Income 2021: $452,7102021Revenue 2022: $1,785,249Expenses 2022: $1,680,098Net Income 2022: $105,1512022Revenue 2023: $1,988,055Expenses 2023: $1,373,076Net Income 2023: $614,9792023Revenue 2024: $804,439Expenses 2024: $964,184Net Income 2024: -$159,7452024

Highlighted filing

2016

Revenue$847,199
Expenses$910,911
Net Income-$63,712
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Nov 15, 2016
Return Version
2015v2.1
Gross Receipts
$847,199
Mission and Program Overview

Mission

To motivate and facilitate the revitalization and development of aurora and its downtown.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$705,495$315,790▼ $389,705
Prepaid Expenses and Deferred Charges$4,613$2,721▼ $1,892
Accounts Receivable$1,000$500▼ $500
Total Assets$711,108$672,011▼ $39,097
Other Assets Total-$353,000-
Liabilities
Accounts Payable and Accrued Expenses$1,956$26,571▲ $24,615
Total Liabilities$1,956$26,571▲ $24,615
Net Assets / Fund Balance
Unrestricted Net Assets$133,688$396,435▲ $262,747
Temporarily Rstr Net Assets$575,464$249,005▼ $326,459
Total Net Assets Fund Balance$709,152$645,440▼ $63,712
Total Liabilities and Net Assets / Fund Balance$711,108$672,011▼ $39,097

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$353,000--
Compensation and Service Providers
Top Officer Pay94th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
David HulsebergPresident/ceFT$140,000$14,666$154,666
David HulsebergPresident/CEO-$140,000$14,666$154,666

Board Members and Trustees

NameTitle
Charles DossChairman
Terry BohrVice Chairma
Christine SobekDirector
Daniel T DolanDirector
David GemellaroDirector
Donald PilmerDirector
Kevin LennonDirector
Melinda KruderDirector
Nicholette CutreraDirector
Peter AguileraDirector
Thomas WeisnerDirector
Wallace MundySecretary/tr
Revenue and Support

Revenue Composition

Contributions and Grants
$835,664
Program Service Revenue
$0
Investment Income
$321
Other Revenue
$11,214
Change in Net Assets
$-63,712

Audited Revenue Reconciliation

Revenue per Audited Statements
$847,199
Revenue Not Reported on Form 990
$21,770
Total Revenue per Audited Statements
$868,969
Total Revenue per Form 990
$847,199
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$457,528
Salaries, Compensation, and Employee Benefits$453,383
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$356,548$53,277-$409,825
Conferences and Meetings$312,706--$312,706
Advertising$38,105--$38,105
Insurance$7,265$29,060-$36,325
Payroll Taxes$29,565$4,418-$33,983
Office Expenses$7,097$18,321-$25,418
Fees for Services Other$11,810$1,273-$13,083
Fees for Services Legal-$12,216-$12,216
Travel$10,845$1,205-$12,050
Other Employee Benefits$8,330$1,245-$9,575
Fees for Services Accounting-$7,625-$7,625
Total Functional Expenses$782,271$128,640$0$910,911

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$932,681
Expenses per Audited Statements$910,911
Total Expenses per Form 990$910,911
Expenses Not Reported on Form 990$21,770
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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, Page 6, Part VI, Line 11B

“Directors review form 990 prior to signature and filing.”

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

“Each new responsible person shall be required to review a copy of the conflict of interest policy and to acknowledge in writing that he or she has done so. Each responsible person shall annually complete a disclosure form identifying any relationships, positions, or circumstances in which the responsible person is involved that he or she believes could contribute to a conflict of interest arising. The conflict of interest policy shall be reviewed annually by each member of the board of directors. Any changes to the policy shall be communicated immediately to all respoonsible persons.”

Form 990, Page 6, Part VI, Line 15A

“The directors reviewed form 990 of other organizations, and performed a compensation survey. The board then approved a written employment contract for the ceo.”

Form 990, Page 6, Part VI, Line 19

“All governing documents are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Seize the Future Development
EIN
36-4573388
Phone
6302563160
Address
43 WEST GALENA BLVD, AURORA, IL 60506

Signing Officer

Name
David Hulseberg
Title
President/CEO
Phone
6302563160
Signed
2016-11-15

Organization Details

Principal Officer
David Hulseberg
Formed
2005
Legal Domicile
Il
Voting Board Members
13
Independent Board Members
13
Employees
8
Volunteers
11

Preparer

Firm
WEBER & ASSOCIATES CPA'S
Address
314 N LAKE ST STE 1B, AURORA, IL 60506-4086
Preparer
Thomas a Weber
Phone
6308974500
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

“The organization has adopted guidance issued by the financial accounting standards board relating to uncertain tax positions. The organization's policy is to classify income tax related interest and penalties in interest expense and other miscellaneous expenses, respectively. The tax years 2013, 2014, and 2015 for income tax returns filed in the u.s. Federal jurisdiction and the state of illinois (the organization's major tax jurisdictons) remain open and subject to examination. The organization has analyzed tax positions taken and believes that income tax filing positions would be sustained upon examination and does not anticipate any adjustments that would have a material adverse effect on the organization's financial condition, results of operations or cash flows.”

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS ADOPTED GUIDANCE ISSUED BY THE FINANCIAL ACCOUNTING STANDARDS BOARD RELATING TO UNCERTAIN TAX POSITIONS. THE ORGANIZATION'S POLICY IS TO CLASSIFY INCOME TAX RELATED INTEREST AND PENALTIES IN INTEREST EXPENSE AND OTHER MISCELLANEOUS EXPENSES, RESPECTIVELY. THE TAX YEARS 2013, 2014, AND 2015 FOR INCOME TAX RETURNS FILED IN THE U.S. FEDERAL JURISDICTION AND THE STATE OF ILLINOIS (THE ORGANIZATION'S MAJOR TAX JURISDICTONS) REMAIN OPEN AND SUBJECT TO EXAMINATION. THE ORGANIZATION HAS ANALYZED TAX POSITIONS TAKEN AND BELIEVES THAT INCOME TAX FILING POSITIONS WOULD BE SUSTAINED UPON EXAMINATION AND DOES NOT ANTICIPATE ANY ADJUSTMENTS THAT WOULD HAVE A MATERIAL ADVERSE EFFECT ON THE ORGANIZATION'S FINANCIAL CONDITION, RESULTS OF OPERATIONS OR CASH FLOWS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DIRECTORS REVIEW FORM 990 PRIOR TO SIGNATURE AND FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EACH NEW RESPONSIBLE PERSON SHALL BE REQUIRED TO REVIEW A COPY OF THE CONFLICT OF INTEREST POLICY AND TO ACKNOWLEDGE IN WRITING THAT HE OR SHE HAS DONE SO. EACH RESPONSIBLE PERSON SHALL ANNUALLY COMPLETE A DISCLOSURE FORM IDENTIFYING ANY RELATIONSHIPS, POSITIONS, OR CIRCUMSTANCES IN WHICH THE RESPONSIBLE PERSON IS INVOLVED THAT HE OR SHE BELIEVES COULD CONTRIBUTE TO A CONFLICT OF INTEREST ARISING. THE CONFLICT OF INTEREST POLICY SHALL BE REVIEWED ANNUALLY BY EACH MEMBER OF THE BOARD OF DIRECTORS. ANY CHANGES TO THE POLICY SHALL BE COMMUNICATED IMMEDIATELY TO ALL RESPOONSIBLE PERSONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE DIRECTORS REVIEWED FORM 990 OF OTHER ORGANIZATIONS, AND PERFORMED A COMPENSATION SURVEY. THE BOARD THEN APPROVED A WRITTEN EMPLOYMENT CONTRACT FOR THE CEO.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
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Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$672,011
Liabilities
$26,571
Net assets
$645,440
Revenue
$847,199
Expenses
$910,911
Net income
-$63,712
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.24$0.04$3.19$0.80$0.96$0.16
2023Detailed filing. Detailed filing data is available for this year.$3.40$0.07$3.33$1.99$1.37$0.61
2022Detailed filing. Detailed filing data is available for this year.$2.92$0.21$2.71$1.79$1.68$0.11
2021Detailed filing. Detailed filing data is available for this year.$2.78$0.18$2.61$1.51$1.05$0.45
2020Detailed filing. Detailed filing data is available for this year.$2.41$0.25$2.15$1.02$1.12$0.09
2019Detailed filing. Detailed filing data is available for this year.$2.30$0.05$2.25$0.76$1.16$0.40
2018Detailed filing. Detailed filing data is available for this year.$2.67$0.02$2.65$1.53$1.04$0.48
2017Detailed filing. Detailed filing data is available for this year.$2.20$0.03$2.17$2.52$0.99$1.52
2016Detailed filing. Detailed filing data is available for this year.$0.67$0.03$0.65$0.85$0.91$0.06
2014Detailed filing. Detailed filing data is available for this year.$0.70$0.00$0.69$1.02$0.40$0.62
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.09$0.02$0.08$0.00$0.18$0.17
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.25$0.25$0.00$0.16$0.16