Civic Intelligence

Palm Beach County Literacy Coalition Foundation Inc.

990 • Fiscal year 2019 • EIN 38-4043979

Jul 01, 2018 to Jun 30, 2019 • Filed on Jan 10, 2020

Organization Profilewww.literacypbc.com

Refreshing map…

3651 Quantum BlvdBoynton Beach, FL 33426

(561) 279-9103

Siviq Scores

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

Liabilities / Assets

57th percentile

0.00x

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

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

57th percentile

0.00x

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

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Net Margin

86th percentile

34%

Higher net margin than 86% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Top Officer Pay

99th percentile

$188,418

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 1628.5% of source-year revenue.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Asset Growth

50th percentile

1.8%

Faster asset growth than 50% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

2nd percentile

-98%

Faster revenue growth than 2% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets57th percentile

Assets

Up

$498,076

Up $8,875 (+1.8%) from 2018

Net Assets

Up

$498,076

Up $8,875 (+1.8%) from 2018

Liabilities

Flat

$0

Flat from 2018

Revenue And Expenses
Liabilities / Revenue57th percentileNet Margin86th percentile

Revenue

Down

$11,570

Down $491,736 (-98%) from 2018

Expenses

Up

$7,589

Up $5,927 (+357%) from 2018

Net Income

Down

$3,981

Down $497,663 (-99%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth50th percentile

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

$3.0M$2.0M$1.0M$0Assets 2018: $489,201Liabilities 2018: $0Net Assets 2018: $489,2012018Assets 2019: $498,076Liabilities 2019: $0Net Assets 2019: $498,0762019Assets 2020: $479,004Liabilities 2020: $0Net Assets 2020: $479,0042020Assets 2021: $1,925,649Liabilities 2021: $0Net Assets 2021: $1,925,6492021Assets 2022: $1,919,794Liabilities 2022: $0Net Assets 2022: $1,919,7942022Assets 2023: $2,125,850Liabilities 2023: $1,775Net Assets 2023: $2,124,0752023

Highlighted filing

2019

Assets$498,076
Liabilities$0
Net Assets$498,076
Open 2019 Filing

Operations Trend

Revenue Growth2nd percentile

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

$1.5M$1.0M$500K$0Revenue 2018: $503,306Expenses 2018: $1,662Net Income 2018: $501,6442018Revenue 2019: $11,570Expenses 2019: $7,589Net Income 2019: $3,9812019Revenue 2020: $16,050Expenses 2020: $7,386Net Income 2020: $8,6642020Revenue 2021: $1,316,399Expenses 2021: $8,961Net Income 2021: $1,307,4382021Revenue 2022: $426,587Expenses 2022: $12,131Net Income 2022: $414,4562022Revenue 2023: $52,742Expenses 2023: $12,269Net Income 2023: $40,4732023

Highlighted filing

2019

Revenue$11,570
Expenses$7,589
Net Income$3,981
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Jan 10, 2020
Return Version
2018v3.1
Gross Receipts
$11,570
Mission and Program Overview

Mission

The Organization's mission is to provide support for the Palm Beach County Literacy Coalition, Inc.

The mission of the Organization is to serve as a supporting organization for the Palm Beach County Literacy Coalition, Inc.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$489,201$498,076▲ $8,875
Total Assets$489,201$498,076▲ $8,875
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$489,201$498,076▲ $8,875
Total Net Assets Fund Balance$489,201$498,076▲ $8,875
Total Liabilities and Net Assets / Fund Balance$489,201$498,076▲ $8,875

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$489,201-▲ $16,464-$498,076
2018-$500,000▼ $10,799-$489,201
Compensation and Service Providers
Top Officer Pay99th percentile

Board Members and Trustees

NameTitle
Kristin CalderPresident
Diane PachecoSecretary
David StopkoskiTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$11,570
Other Revenue
$0
Change in Net Assets
$3,981

Audited Revenue Reconciliation

Revenue per Audited Statements
$11,570
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$5,821,791
Total Revenue per Audited Statements
$5,833,361
Total Revenue per Form 990
$11,570
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$7,589
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
Fees for Service Investment Mgmnt Fees-$5,564-$5,564
Fees for Services Accounting-$2,025-$2,025
Total Functional Expenses$0$7,589$0$7,589

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$5,669,683
Expenses Not Reported on Form 990$5,662,094
Expenses per Audited Statements$7,589
Total Expenses per Form 990$7,589
Expenses Not Reported on Financial Statements$0
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
Yes
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 B, line 11B

“Form 990 Availability Process Statement: The Organization's Form 990 is made available to and approved by the governing body at a board meeting.”

Form 990, Part VI, Section B, line 12C

“Conflict of Interest Policy Statement: Board members with a conflict of interest on any issue, disclose the conflict and recuse themselves from voting on that issue.”

Form 990, Part VI, Section B, line 15

“Management Compensation Determination Statement: An outside human resource consultant brings both local and national salary surveys to the personnel committee for review.”

Form 990, Part VI, Section C, line 18

“Form 990 Availability Process Statement: The Organization's form 990 is made available to and approved by the governing body at a board meeting.”

Form 990, Part VI, Section C, line 19

“The Organization makes the governing documents, conflict of interest policy, and financial statements available upon request.”

Filing and Contact Details

Filer

Filer Name
Palm Beach County Literacy Coalition
EIN
38-4043979
Phone
5612799103
Address
3651 Quantum Blvd, Boynton Beach, FL 33426

Signing Officer

Name
Kristin Calder
Title
CEO
Phone
5612799103
Signed
2020-01-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kristin Calder
Formed
2018
Legal Domicile
Fl
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
1

Preparer

Firm
Holyfield & Thomas LLC
Address
125 Butler Street, West Palm Beach, FL 33407
Preparer
Scott Y Haynes
Phone
5616896000
Supplemental Narrative

Additional Explanations

990 Page 12, Part XII, Linew 2B

“The audit report is reviewed annually at the annual audit report review meeting as presented by the independent auditor. The process has not changed from the prior year.”

Financial Statement Notes

Part V, Line 4:

“The Organization's endowment consists of investment funds created to provide ongoing financial support to the Coalition, a related organization, and are held in the Foundation.”

Part X, Line 2:

“The Coalition follows FASB ASC 740-10, Accounting for Uncertainty in Income Taxes. This standard seeks to reduce the diversity in practice associated with certain aspects of measurement and recognition in accounting for income taxes. It prescribes a recognition threshold and measurement attribute for financial statement recognition and measurement of a tax position which an entity takes or expects to take in a tax return. An entity may only recognize or continue to recognize tax positions that meet a "more likely than not" threshold. The Coalition assesses its income tax positions based on management's evaluation of the facts, circumstances and information available at the reporting date. The Coalition uses the prescribed "more likely than not" threshold when making its assessment. There are currently no open Federal or State tax years under audit.”

Part XI, Line 2D - Other Adjustments:

“Revenue-Palm Beach County Literacy Coalition 5,470,455. Realized Gain 2,100. Special Event Expenses 81,496.”

Part XII, Line 2D - Other Adjustments:

“Expenses-Palm Beach County Literacy Coalition 5,317,437. Realized Loss 315. Special Event Expenses 81,496.”

Raw XML Appendix393 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Organization's endowment consists of investment funds created to provide ongoing financial support to the Coalition, a related organization, and are held in the Foundation.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1The Coalition follows FASB ASC 740-10, Accounting for Uncertainty in Income Taxes. This standard seeks to reduce the diversity in practice associated with certain aspects of measurement and recognition in accounting for income taxes. It prescribes a recognition threshold and measurement attribute for financial statement recognition and measurement of a tax position which an entity takes or expects to take in a tax return. An entity may only recognize or continue to recognize tax positions that meet a "more likely than not" threshold. The Coalition assesses its income tax positions based on management's evaluation of the facts, circumstances and information available at the reporting date. The Coalition uses the prescribed "more likely than not" threshold when making its assessment. There are currently no open Federal or State tax years under audit.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2Revenue-Palm Beach County Literacy Coalition 5,470,455. Realized Gain 2,100. Special Event Expenses 81,496.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3Expenses-Palm Beach County Literacy Coalition 5,317,437. Realized Loss 315. Special Event Expenses 81,496.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Conflict of Interest Policy Statement: Board members with a conflict of interest on any issue, disclose the conflict and recuse themselves from voting on that issue.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Management Compensation Determination Statement: An outside human resource consultant brings both local and national salary surveys to the personnel committee for review.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Form 990 Availability Process Statement: The Organization's form 990 is made available to and approved by the governing body at a board meeting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The Organization makes the governing documents, conflict of interest policy, and financial statements available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The audit report is reviewed annually at the annual audit report review meeting as presented by the independent auditor. The process has not changed from the prior year.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, line 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5990 Page 12, Part XII, Linew 2b
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ReturnHeader/PreparerPersonGrp/PhoneNum05616896000
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Scott Y Haynes
ReturnHeader/ReturnTs02020-01-14T15:47:54-06:00
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ReturnHeader/TaxPeriodBeginDt02018-07-01
ReturnHeader/TaxPeriodEndDt02019-06-30
ReturnHeader/TaxYr02018

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$498,076
Liabilities
$0
Net assets
$498,076
Revenue
$11,570
Expenses
$7,589
Net income
$3,981
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.13$0.00$2.12$0.05$0.01$0.04
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.92$0.00$1.92$0.43$0.01$0.41
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.93$0.00$1.93$1.32$0.01$1.31
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.48$0.00$0.48$0.02$0.01$0.01
2019Detailed filing. Detailed filing data is available for this year.$0.50$0.00$0.50$0.01$0.01$0.00
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.49$0.00$0.49$0.50$0.00$0.50