Civic Intelligence

The Possabilities Foundation

990 • Fiscal year 2014 • EIN 41-0851859

Jan 01, 2014 to Dec 31, 2014 • Filed on Oct 15, 2015

Organization ProfileWWW.POSSABILITIES.ORG
1808 3rd Ave SERochester, MN 55904

(507) 281-6116

Siviq Scores

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

Liabilities / Assets

82nd percentile

0.61x

Higher debt load relative to assets than 82% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

96th percentile

6.93x

Higher debt load relative to revenue than 96% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

6th percentile

-47%

Higher net margin than 6% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

34th percentile

$0

Higher top officer pay than 34% of similar nonprofits.

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

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Asset Growth

18th percentile

-5.9%

Faster asset growth than 18% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

5th percentile

-45%

Faster revenue growth than 5% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets82nd percentile

Assets

Down

$2,281,023

Down $143,945 (-5.9%) from 2013

Net Assets

Down

$883,554

Down $95,102 (-9.7%) from 2013

Liabilities

Down

$1,397,469

Down $48,843 (-3.4%) from 2013

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin6th percentile

Revenue

Down

$201,616

Down $166,159 (-45%) from 2013

Expenses

Down

$296,718

Down $52,505 (-15%) from 2013

Net Income

Down

-$95,102

Down $113,654 (-613%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth18th percentile

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

$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

2014

Assets$2,281,023
Liabilities$1,397,469
Net Assets$883,554
Open 2014 Filing

Operations Trend

Revenue Growth5th percentile

Revenue, expenses, and net income across loaded years, with this 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

2014

Revenue$201,616
Expenses$296,718
Net Income-$95,102
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Oct 15, 2015
Return Version
2014v5.0
Gross Receipts
$564,044
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$2,340,250$1,997,686▼ $342,564
Other Notes and Loans Receivable, Net-$182,796-
Cash and Non-Interest-Bearing Accounts$84,718$100,541▲ $15,823
Total Assets$2,424,968$2,281,023▼ $143,945
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,421,878$1,397,141▼ $24,737
Accounts Payable and Accrued Expenses$24,434$328▼ $24,106
Total Liabilities$1,446,312$1,397,469▼ $48,843
Net Assets / Fund Balance
Unrestricted Net Assets$561,180$718,690▲ $157,510
Temporarily Rstr Net Assets$417,476$164,864▼ $252,612
Total Net Assets Fund Balance$978,656$883,554▼ $95,102
Total Liabilities and Net Assets / Fund Balance$2,424,968$2,281,023▼ $143,945

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,616,016$437,070$2,053,086
Land$381,670-$381,670
Compensation and Service Providers
Top Officer Pay34th percentile

Board Members and Trustees

NameTitle
Mike MaluganiPresident
Bill KleisTrustee
Brad BeckerTrustee
Dave EllingsonTrustee
Hillary Stonelake-curtisTrustee
Robert YanishTrustee
Steve LangeTrustee
Tammy BroganTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$73,021
Program Service Revenue
$216,000
Investment Income
$-178,017
Other Revenue
$90,612
Change in Net Assets
$-95,102

Audited Revenue Reconciliation

Revenue per Audited Statements
$201,616
Revenue Not Reported on Form 990
$178,017
Total Revenue per Audited Statements
$379,633
Total Revenue per Form 990
$201,616
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$176,718
Grants and Similar Amounts Paid$120,000
Total Fundraising Expense$5,015
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$77,942--$77,942
Interest$60,242--$60,242
Fees for Services Other$19,682$10,812$5,015$35,509
Fees for Services Legal-$3,025-$3,025
Total Functional Expenses$277,866$13,837$5,015$296,718

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$474,735
Expenses per Audited Statements$296,718
Total Expenses per Form 990$296,718
Expenses Not Reported on Form 990$178,017
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$133,056
Fundraising Direct Expenses$73,744
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Car Raffle$75,551$66,276$26,476$39,800
Wine Dinner$98,645$60,780$40,672$20,108
Total Events$180,843$133,056$73,744$59,312
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
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 governing body review Part VI line 11

“The board reviews a pdf of the tax return at either a board meeting or by email communication”

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
Michael Malugani
Title
President
Phone
5072816116
Signed
2015-10-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Eileen Wallace
Formed
2002
Legal Domicile
Mn
Voting Board Members
8
Independent Board Members
8
Employees
0
Volunteers
100

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

List of other fees for services expenses Part IX line 11G

“Other miscellaneous expenses”

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)

“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.”

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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/RevenueSubtotalAmt0201616
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/ExplanationTxt1LOSS 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/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/TotalBookValueLandBuildingsAmt01997686
IRS990ScheduleD/TotalExpensesPerForm990Amt0296718
IRS990ScheduleD/TotalRevenuePerForm990Amt0201616
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0379633
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0474735
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContributionsTotAmt047787
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt037865
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent2Amt09275
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriOtherEventsAmt0647
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt073744
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0WINE DINNER
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0CAR RAFFLE
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt098645
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt075551
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsOtherEventsAmt06647
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt0180843
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt060780
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent2Amt066276
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueOtherEventsAmt06000
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt0133056
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt059312
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssOtherEventsAmt06596
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt073744
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt040672
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent2Amt026476
IRS990ScheduleG/FundraisingEventInformationGrp/OtherEventsTotalCnt01
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
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD REVIEWS A PDF OF THE TAX RETURN AT EITHER A BOARD MEETING OR BY EMAIL COMMUNICATION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD REVIEWS THE CONFLICT OF INTEREST POLICY ON AN ANNUAL BASIS AT A BOARD MEETING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3OTHER MISCELLANEOUS EXPENSES
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3List of other fees for services expenses Part IX line 11g
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/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0true
IRS990ScheduleR/PerformOfServicesForOthOrgInd0true
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0true
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0true
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0MN
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt0417476
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0164864
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02424968
IRS990/TotalAssetsEOYAmt02281023
IRS990/TotalAssetsGrp/BOYAmt02424968
IRS990/TotalAssetsGrp/EOYAmt02281023
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt073021
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt05015
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt013837
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0277866
IRS990/TotalFunctionalExpensesGrp/TotalAmt0296718
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01446312
IRS990/TotalLiabilitiesEOYAmt01397469
IRS990/TotalLiabilitiesGrp/BOYAmt01446312
IRS990/TotalLiabilitiesGrp/EOYAmt01397469
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0978656
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0883554
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0277866
IRS990/TotalProgramServiceRevenueAmt0216000
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt090612
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt037983
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0201616
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt0100
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02424968
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02281023

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,281,023
Liabilities
$1,397,469
Net assets
$883,554
Revenue
$201,616
Expenses
$296,718
Net income
-$95,102
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2015Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.46$0.31$0.15
2014Detailed filing. Detailed filing data is available for this year.$2.28$1.40$0.88$0.20$0.30$0.10
2013Detailed filing. Detailed filing data is available for this year.$2.42$1.45$0.98$0.37$0.35$0.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.47$1.51$0.96$0.37
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.57$1.60$0.97$0.41
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.82$1.76$1.06$0.24