Civic Intelligence

The Possabilities Foundation

EIN 41-0851859 • 501(c)3 • Rochester, MN

Profile

To raise funds to provide grants to possabilities of southern minnesota.

1808 3rd Ave SERochester, MN 55904

www.possabilities.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 2015

Liabilities / Revenue

34th percentile

0.00x

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

501(c)3 • $500k-$1M nonprofits • Source year 2015

Net Margin

83rd percentile

33%

Higher net margin than 83% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2015

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

2nd percentile

-100%

Faster asset growth than 2% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2014 to 2015

Revenue Growth

94th percentile

128%

Faster revenue growth than 94% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2014 to 2015

Assets

Down

$0

Down $2,281,023 (-100%) from 2014

Liabilities

Down

$0

Down $1,397,469 (-100%) from 2014

Net Assets

Down

$0

Down $883,554 (-100%) from 2014

Revenue

Up

$459,058

Up $257,442 (+128%) from 2014

Expenses

Up

$306,527

Up $9,809 (+3.3%) from 2014

Net Income

Up

$152,531

Up $247,633 (+260%) from 2014

Trend Graphs

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0Assets 2010: $2,818,444Liabilities 2010: $1,758,351Net Assets 2010: $1,060,0932010Assets 2011: $2,569,307Liabilities 2011: $1,601,944Net Assets 2011: $967,3632011Assets 2012: $2,470,083Liabilities 2012: $1,509,979Net Assets 2012: $960,1042012Assets 2013: $2,424,968Liabilities 2013: $1,446,312Net Assets 2013: $978,6562013Assets 2014: $2,281,023Liabilities 2014: $1,397,469Net Assets 2014: $883,5542014Assets 2015: $0Liabilities 2015: $0Net Assets 2015: $02015

Highlighted filing

2015

Assets$0
Liabilities$0
Net Assets$0

Operations Trend

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

$600K$400K$200K$0-$200KExpenses 2010: $236,1552010Expenses 2011: $407,2312011Expenses 2012: $367,6772012Revenue 2013: $367,775Expenses 2013: $349,223Net Income 2013: $18,5522013Revenue 2014: $201,616Expenses 2014: $296,718Net Income 2014: -$95,1022014Revenue 2015: $459,058Expenses 2015: $306,527Net Income 2015: $152,5312015

Highlighted filing

2015

Revenue$459,058
Expenses$306,527
Net Income$152,531

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Oct 11, 2016
Return Version
2015v2.1
Gross Receipts
$618,042
Mission and Program Overview

Mission

To raise funds to provide grants to possabilities of southern minnesota an affiliated 501(c)(3) organization

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,997,686--
Other Notes and Loans Receivable, Net$182,796--
Cash and Non-Interest-Bearing Accounts$100,541--
Total Assets$2,281,023$0▼ $2,281,023
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,397,141--
Accounts Payable and Accrued Expenses$328--
Total Liabilities$1,397,469$0▼ $1,397,469
Net Assets / Fund Balance
Unrestricted Net Assets$718,690--
Temporarily Rstr Net Assets$164,864--
Total Net Assets Fund Balance$883,554$0▼ $883,554
Total Liabilities and Net Assets / Fund Balance$2,281,023$0▼ $2,281,023
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$227,027
Program Service Revenue
$216,000
Investment Income
$-41,315
Other Revenue
$57,346
All Other Contributions
$217,809
Change in Net Assets
$152,531

Audited Revenue Reconciliation

Revenue per Audited Statements
$459,058
Revenue Not Reported on Form 990
$41,315
Total Revenue per Audited Statements
$500,373
Total Revenue per Form 990
$459,058
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$186,527
Grants and Similar Amounts Paid$120,000
Total Fundraising Expense$3,073
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$120,000--$120,000
Depreciation Depletion$78,624--$78,624
Interest$62,289--$62,289
Other Expenses-$29,662-$29,662
Fees for Services Other-$9,226$3,073$12,299
Occupancy-$1,786-$1,786
Fees for Services Legal-$1,373-$1,373
Advertising-$494-$494
Total Functional Expenses$260,913$42,541$3,073$306,527

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,383,927
Expenses Not Reported on Form 990$1,077,400
Expenses per Audited Statements$306,527
Total Expenses per Form 990$306,527
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Possabilities of Southern MnRochester, MN501c3Operations$120,000
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$72,440
Fundraising Direct Expenses$26,169
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Wine Dinner$80,158$70,940$25,844$45,096
Banquet$1,500$1,500$325$1,175
Total Events$81,658$72,440$26,169$46,271
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
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
Yes
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

Organizational document changes Part VI line 4

This organization was terminated 12/31/2015 by way of a merger with possabilities of southern minnesota, a related 501(c)(3) organization. See schedule n and attached certificate of merger.

Form 990 governing body review Part VI line 11

Tax return is distributed to board members for their review and comment and subsequently approved by the board

Conflict of interest policy compliance Part VI line 12C

The board reviews the conflict of interest policy on an annual basis at a board meeting

Governing documents etc available to public Part VI line 19

Governing documents are available upon request

Filing and Contact Details

Filer

Filer Name
The Possabilities Foundation
EIN
41-0851859
Address
1808 3RD AVE SE, ROCHESTER, MN 55904

Signing Officer

Name
Eileen Walace
Title
Executive Direc
Phone
5072816116
Signed
2016-10-11
Discuss with paid preparer
Yes

Organization Details

Formed
2002
Legal Domicile
Mn
Voting Board Members
8
Independent Board Members
8
Employees
0
Volunteers
75

Preparer

Firm
Timothy P ONeill CPA LLC
Address
603 9th Street NW, Byron, MN 55920
Preparer
Timothy P ONeill
Phone
5076240115
Supplemental Narrative

Additional Explanations

Explanation of other changes in net assets or fund balances Part XI line 9

Transfer of net assets to possabilities of southern minnesota, a related 501(c)(3) organization. These entities were merged 12-31-15. This amount was reported as an expense in the audit report. See schedule n and attached certificate of merger.

Financial Statement Notes

Other revenues not included on Form 990 (Part XI, line 2D)

Loss on the sale of property reported as an expense on the audit report. Reported in the revenue section as negative revenue on the tax return.

Other expenses not included on Form 990 (Part XII, line 2D)

1) $41,315 loss on the sale of property and 2) $1,036,085 transfer of net assets to possabilities of southern minnesota, a related, 501(c)(3) organization. These entities were merged 12-31-15. See schedule n and attached certificate of merger. Both amounts were reported as expenses in the audit report.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0LOSS ON THE SALE OF PROPERTY REPORTED AS AN EXPENSE ON THE AUDIT REPORT. REPORTED IN THE REVENUE SECTION AS NEGATIVE REVENUE ON THE TAX RETURN.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt11) $41,315 LOSS ON THE SALE OF PROPERTY AND 2) $1,036,085 TRANSFER OF NET ASSETS TO POSSABILITIES OF SOUTHERN MINNESOTA, A RELATED, 501(C)(3) ORGANIZATION. THESE ENTITIES WERE MERGED 12-31-15. SEE SCHEDULE N AND ATTACHED CERTIFICATE OF MERGER. BOTH AMOUNTS WERE REPORTED AS EXPENSES IN THE AUDIT REPORT.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Other revenues not included on Form 990 (Part XI, line 2d)
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Other expenses not included on Form 990 (Part XII, line 2d)
IRS990ScheduleD/TotalExpensesPerForm990Amt0306527
IRS990ScheduleD/TotalRevenuePerForm990Amt0459058
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0500373
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01383927
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContributionsTotAmt09218
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt09218
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt026169
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0WINE DINNER
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0BANQUET
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt080158
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt01500
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt081658
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt070940
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent2Amt01500
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt072440
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt046271
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt026169
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt025844
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent2Amt0325
IRS990ScheduleI/GrantRecordsMaintainedInd0false
IRS990ScheduleI/RecipientTable/CashGrantAmt0120000
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501C3
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0OPERATIONS
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0POSSABILITIES OF SOUTHERN MN
IRS990ScheduleI/RecipientTable/RecipientEIN0410853397
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt01808 3RD AVE SE
IRS990ScheduleI/RecipientTable/USAddress/CityNm0ROCHESTER
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0MN
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd055904
IRS990ScheduleI/Total501c3OrgCnt01
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleN/AssetsDistributedInd0true
IRS990ScheduleN/AttorneyGeneralNotifiedInd0true
IRS990ScheduleN/BondsOutstandingInd0false
IRS990ScheduleN/DirectorOfSuccessor2Ind0true
IRS990ScheduleN/DirectorOfSuccessorInd0true
IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0LAND AND BUILDINGS
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt02015-12-31
IRS990ScheduleN/DispositionOfAssetsDetail/EIN0410853397
IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt02402000
IRS990ScheduleN/DispositionOfAssetsDetail/IRCSectionTxt0501C3
IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt0INTERNAL ESTIMATE
IRS990ScheduleN/DispositionOfAssetsDetail/PersonNm0POSSABILITIES OF SOUTHERN MN
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/AddressLine1Txt01808 3RD AVENUE SE
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/CityNm0ROCHESTER
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/StateAbbreviationCd0MN
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/ZIPCd055904
IRS990ScheduleN/EmployeeOfSuccessor2Ind0false
IRS990ScheduleN/EmployeeOfSuccessorInd0false
IRS990ScheduleN/LiabilitiesPaidInd0true
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0LAND AND BUILDINGS
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt02015-12-31
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN0410853397
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt02402000
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt0501C3
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/MethodOfFMVDeterminationTxt0INTERNAL ESTIMATE
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/PersonNm0POSSABILITIES OF SOUTHERN MINNESOTA
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt01808 3RD AVENUE SE
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm0ROCHESTER
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd0MN
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd055904
IRS990ScheduleN/OwnerOfSuccessor2Ind0false
IRS990ScheduleN/OwnerOfSuccessorInd0false
IRS990ScheduleN/ReceiveCompensation2Ind0false
IRS990ScheduleN/ReceiveCompensationInd0false
IRS990ScheduleN/RequiredToNotifyAGInd0true
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THIS ORGANIZATION WAS TERMINATED 12/31/2015 BY WAY OF A MERGER WITH POSSABILITIES OF SOUTHERN MINNESOTA, A RELATED 501(C)(3) ORGANIZATION. SEE SCHEDULE N AND ATTACHED CERTIFICATE OF MERGER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1TAX RETURN IS DISTRIBUTED TO BOARD MEMBERS FOR THEIR REVIEW AND COMMENT AND SUBSEQUENTLY APPROVED BY THE BOARD
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD REVIEWS THE CONFLICT OF INTEREST POLICY ON AN ANNUAL BASIS AT A BOARD MEETING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4TRANSFER OF NET ASSETS TO POSSABILITIES OF SOUTHERN MINNESOTA, A RELATED 501(C)(3) ORGANIZATION. THESE ENTITIES WERE MERGED 12-31-15. THIS AMOUNT WAS REPORTED AS AN EXPENSE IN THE AUDIT REPORT. SEE SCHEDULE N AND ATTACHED CERTIFICATE OF MERGER.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Organizational document changes Part VI line 4
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Explanation of other changes in net assets or fund balances Part XI line 9
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0true
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0POSSABILITIES OF SOUTHERN MINNESOTA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0POSSABILITIES OF SOUTHERN MN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0410853397
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0MN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0DAY SERVICES FOR INDIVIDUALS WITH DISABILITIES
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt07
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt01808 3RD AVE SE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0ROCHESTER
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0MN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd055904
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0true
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0true
IRS990ScheduleR/PaidEmployeesSharingInd0true
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0true
IRS990ScheduleR/PerformOfServicesForOthOrgInd0true
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0true
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0true
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0true
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0MN
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt0164864
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0true

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