Civic Intelligence

Social Finance Ct Family Stability 2016

EIN 36-4829457 • 501(c)3 • Boston, MA

Profile

The organization furthers charitable purposes by lessening the burdens of government of the state of connecticut by promoting family stability and reducing foster care utilization for families impacted by parental substance use. It will accomplish these goals by providing in-home attachment-based parent-child therapy and contingency management substance use treatment designed to support substance affected families, such that they may thrive in drug-free, safe and stable homes.

2 Atlantic Avenue 5th FloorBoston, MA 02110

www.socialfinance.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2020

Liabilities / Revenue

7th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • $10M-$25M nonprofits • Source year 2020

Net Margin

95th percentile

78%

Higher net margin than 95% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2020

Top Officer Pay

78th percentile

$305,845

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 2.7% of source-year revenue.

501(c)3 • $10M-$25M nonprofits • Source year 2020

Asset Growth

1st percentile

-100%

Faster asset growth than 1% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Revenue Growth

99th percentile

1466%

Faster revenue growth than 99% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Assets

Down

$0

Down $12,743,372 (-100%) from 2019

Liabilities

Down

$0

Down $21,398,961 (-100%) from 2019

Net Assets

Up

$0

Up $8,655,589 (+100%) from 2019

Revenue

Up

$11,166,196

Up $10,453,170 (+1466%) from 2019

Expenses

Down

$2,502,072

Down $641,501 (-20%) from 2019

Net Income

Up

$8,664,124

Up $11,094,671 (+456%) from 2019

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$30M$20M$10M$0-$10MAssets 2016: $2,922,216Liabilities 2016: $4,035,762Net Assets 2016: -$1,113,5462016Assets 2017: $6,641,171Liabilities 2017: $10,095,416Net Assets 2017: -$3,454,2452017Assets 2018: $10,298,798Liabilities 2018: $16,523,840Net Assets 2018: -$6,225,0422018Assets 2019: $12,743,372Liabilities 2019: $21,398,961Net Assets 2019: -$8,655,5892019Assets 2020: $0Liabilities 2020: $0Net Assets 2020: $02020

Highlighted filing

2020

Assets$0
Liabilities$0
Net Assets$0

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$15M$10M$5.0M$0-$5.0MRevenue 2016: $427Expenses 2016: $1,113,973Net Income 2016: -$1,113,5462016Revenue 2017: $945Expenses 2017: $2,341,644Net Income 2017: -$2,340,6992017Revenue 2018: $229,748Expenses 2018: $3,000,545Net Income 2018: -$2,770,7972018Revenue 2019: $713,026Expenses 2019: $3,143,573Net Income 2019: -$2,430,5472019Revenue 2020: $11,166,196Expenses 2020: $2,502,072Net Income 2020: $8,664,1242020

Highlighted filing

2020

Revenue$11,166,196
Expenses$2,502,072
Net Income$8,664,124

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 15, 2021
Return Version
2020v4.1
Gross Receipts
$11,166,196
Mission and Program Overview

Mission

The organization furthers charitable purposes by lessening the burdens of government of the state of connecticut by promoting family stability and reducing foster care utilization for families impacted by parental substance use. It will accomplish these goals by providing in-home attachment-based parent-child therapy and contingency management substance use treatment designed to support substance affected families, such that they may thrive in drug-free, safe and stable homes.

The organization furthers charitable purposes by lessening the burdens of government of the state of connecticut (continued on schedule o.)

Balance Sheet Detail
LineBeginningEndChange
Assets
Inventories for Sale or Use$466,337$0▼ $466,337
Cash and Non-Interest-Bearing Accounts$243,384$0▼ $243,384
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Intangible Assets$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$12,743,372$0▼ $12,743,372
Other Assets Total$12,033,651$0▼ $12,033,651
Liabilities
Escrow Account Liability$12,026,405$0▼ $12,026,405
Mortgage Notes Payable Secured by Investment Property$9,052,816$0▼ $9,052,816
Other Liabilities$299,835$0▼ $299,835
Accounts Payable and Accrued Expenses$19,905$0▼ $19,905
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$21,398,961$0▼ $21,398,961
Net Assets / Fund Balance
Net Assets With Donor Restrictions$0$0→ $0
Net Assets Without Donor Restrictions$-8,655,589$0▲ $8,655,589
Total Net Assets Fund Balance$-8,655,589$0▲ $8,655,589
Total Liabilities and Net Assets / Fund Balance$12,743,372$0▼ $12,743,372
Compensation and Service Providers

Board Members and Trustees

NameTitle
Tracy PalandjianPresident
Jonathan EdwardsSecretary
Navjeet BalTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Yale Child Study CenterProgram Services230 S FRONTAGE ROAD, New Haven, CT 06519$880,188
Community Mental Health AffiliatesProject & Mgmt Svcs270 JOHN DOWNEY DR, New Britain, CT 06051$465,900
United Community Family ServicesProject Mgmt & Svcs34 EAST TOWN STREET, Norwich, CT 06360$347,860
Community Health ResourcesProject Mgmt & Svcs995 DAY HILL ROAD, Windsor, CT 06095$214,250
University Of ConnecticutEvaluation Services195 FARMINGTON AVE STE 2040, Farmington, CT 06032$193,489
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$1,289
Other Revenue
$11,164,907
Change in Net Assets
$8,664,124

Audited Revenue Reconciliation

Revenue per Audited Statements
$11,166,196
Total Revenue per Audited Statements
$11,166,196
Total Revenue per Form 990
$11,166,196
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,502,072
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
Other Expenses$2,101,687$277,885-$277,885
Fees for Services Management-$122,500-$122,500
Total Functional Expenses$2,101,687$400,385$0$2,502,072

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,502,072
Total Expenses per Audited Statements$2,502,072
Total Expenses per Form 990$2,502,072
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Social Finance IncBusiness RelationshipManagementNo$122,500

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

FORM 990, PART VI, SECTION A, LINE 2:

The officers of social finance ct family stability 2016 llc work together at social finance, inc. Social finance ct family stability 2016 llc is directly controlled by social finance ct family stability 2016 manager, inc.

FORM 990, PART VI, SECTION A, LINE 6:

Social finance, inc. Is the sole member and stockholder for ct manager.

FORM 990, PART VI, SECTION A, LINE 7A:

The bylaws for social finance ct family stability 2016 manager (ct manager) state that the board of directors of ct manager shall be elected by the stockholders. Social finance inc. Is the sole member and stockholder for ct manager.

FORM 990, PART VI, SECTION B, LINE 11B:

The form is reviewed by the board, then viewed by senior management of social finance inc. Before filing.

FORM 990, PART VI, SECTION B, LINE 12C:

As annual conflict of interest policy statement is distributed to officers, directors, and members of any committees with governing board delegated powers for completion. Any conflict will be discussed with the interested person and the governing board before a decision is made as to the existence of a conflict of interest.

FORM 990, PART VI, SECTION C, LINE 19:

The organization makes its governing documents, conflict of interest policy and financial statements available upon request.

Filing and Contact Details

Filer

Filer Name
Social Finance CT Family Stability 2016
EIN
36-4829457
In Care Of
% ELIZABETH DINH
Phone
6179399900
Address
2 Atlantic Avenue 5th Floor, Boston, MA 02110

Signing Officer

Name
Navjeet Bal
Title
Treasurer
Phone
6179399900
Signed
2021-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Navjeet Bal
Formed
2016
Legal Domicile
De
Voting Board Members
3
Independent Board Members
0
Employees
0
Volunteers
3

Preparer

Firm
Bdo USA Llp
Address
ONE INTERNATIONAL PLACE, BOSTON, MA 02110
Preparer
Brian Vigneault
Phone
6174220700
Supplemental Narrative

Additional Explanations

FORM 990, PART I, LINE 1, DESCRIPTION OF ORGANIZATION MISSION:

by promoting family stability and reducing foster care utilization for families impacted by parental substance use. It will accomplish these goals by providing in-home attachment-based parent-child therapy and contingency management substance use treatment designed to support substance affected families, such that they may thrive in drug-free, safe and stable homes.

FORM 990, PART III, LINE 3, CEASE OF OPERATIONS:

Social finance ct family stability 2016 llc ("ct llc"), a delaware limited liability company, was formed on february 8, 2016 and operated from october 1, 2016 to its dissolution on december 29, 2020. Ct llc was established to lessen the burdens of government of the state of connecticut by promoting family stabiliity and reducing out-of-home placements for families impacted by parental substance use (the "project").

FORM 990, PART III, LINE 4D, OTHER PROGRAM SERVICES:

Yale child study center (ycsc) - intervention provider: ycsc intervention provider continued to oversee the implementation of fbr across the ct family stability project's four implementing agencies (cmhs, ucfs, chr & ycsc). Ycsc intervention provider assisted in the hiring and training of clinical staff for each fbr team, and engaged in weekly consultation to provide clinical oversight. Additionally, ycsc staff engaged in data integration and analysis work to consolidate programmatic information flowing from each of the four agencies, and share out with the project's independent third-party evauation team at university of connecticut. Expenses $264,226, revenues $0. Community health resources (chr): chr's fbr clinician team delivered intensive in-home clinical services to families (ct dcf) due to parental substance use. This team served families located in ct dcf region 3 (norwich willimantic, middletown). Expenses $214,250, revenues $0. University of connecticut health center (uconn): uconn acted as the independent third-party evaluator for the ct family stability project. In this role, they provided research assistant services in each of the three ct dcf regions to support the ongoing randomized controlled trial (rct). Additionally, the team engaged in data integration and analysis work to consolidate and prepare research study information and reoprting required as part of the ct family stability project. Expenses $193,489, revenues $0.

FORM 990, PART XII, LINE 2C:

The process has not changed since the prior year.

Financial Statement Notes

PART X, LINE 2:

Ct llc is treated as a disregarded entity and is included in the tax filings of ct manager. Ct llc follows the accounting standard for uncertainty in income taxes. The standard prescribes a minimum recognition threshold and measurement methodology that a tax position taken or expected to be taken in a tax return is required to meet before being recognized in the financial statements. It also provides guidance for de-recognition, classification, interest and penalties, disclosure, and transition. Should there be interest on underpayments of income tax, ct llc would classify it as interest expense. Ct llc would classify penalties in connection with underpayments of income tax as other expense.

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IRS990/MissionDesc0The organization furthers charitable purposes by lessening the burdens of government of the state of Connecticut by promoting family stability and reducing foster care utilization for families impacted by parental substance use. It will accomplish these goals by providing in-home attachment-based parent-child therapy and contingency management substance use treatment designed to support substance affected families, such that they may thrive in drug-free, safe and stable homes.
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IRS990/ProgSrvcAccomActy2Grp/Desc0COMMUNITY MENTAL HEALTH AFFILIATES (CMHA): CMHA'S TWO FBR CLINICIAN TEAMS DELIVERED INTENSIVE IN-HOME CLINICAL SERVICES TO FAMILIES INVOLVED WITH THE CONNECTICUT DEPARTMENT OF CHILDREN AND FAMILIES (CT DCF) DUE TO PARENTAL SUBSTANCE USE. THESE TEAMS SERVED FAMILIES LOCATED IN CT DCP REGION 5 (WATERBURY, TORRINGTON, DANBURY).
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IRS990/ProgSrvcAccomActy3Grp/Desc0UNITED COMMUNITY & FAMILY SERVICES (UCFS): UCFS' TWO FBR CLINICIAN TEAMS DELIVERED INTENSIVE IN-HOME CLINICAL SERVICES TO FAMILIES INVOLVED WITH THE CONNECTICUT DEPARTMENT OF CHILDREN AND FAMILIES (CT DCF) DUE TO PARENTAL SUBSTANCE USE. THESE TEAMS SERVED FAMILIES LOCATED IN CT DCF REGION 3 (NORWICH, WILLIMANTIC, MIDDLETOWN).
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0CT LLC IS TREATED AS A DISREGARDED ENTITY AND IS INCLUDED IN THE TAX FILINGS OF CT MANAGER. CT LLC FOLLOWS THE ACCOUNTING STANDARD FOR UNCERTAINTY IN INCOME TAXES. THE STANDARD PRESCRIBES A MINIMUM RECOGNITION THRESHOLD AND MEASUREMENT METHODOLOGY THAT A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN IS REQUIRED TO MEET BEFORE BEING RECOGNIZED IN THE FINANCIAL STATEMENTS. IT ALSO PROVIDES GUIDANCE FOR DE-RECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, DISCLOSURE, AND TRANSITION. SHOULD THERE BE INTEREST ON UNDERPAYMENTS OF INCOME TAX, CT LLC WOULD CLASSIFY IT AS INTEREST EXPENSE. CT LLC WOULD CLASSIFY PENALTIES IN CONNECTION WITH UNDERPAYMENTS OF INCOME TAX AS OTHER EXPENSE.
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