Civic Intelligence

Real Resources Foundation

990 • Fiscal year 2017 • EIN 41-1973954

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 06, 2018

5320 West 23rd Street No 130Minneapolis, MN 55416

(612) 729-5444

Siviq Scores

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

Liabilities / Assets

7th percentile

0.00x

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

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Liabilities / Revenue

7th percentile

0.00x

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

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Net Margin

97th percentile

83%

Higher net margin than 97% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Top Officer Pay

53rd percentile

$126,036

Higher top officer pay than 53% of similar nonprofits.

Top officer pay equals 73.8% of source-year revenue.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Asset Growth

36th percentile

0.3%

Faster asset growth than 36% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Revenue Growth

2nd percentile

-72%

Faster revenue growth than 2% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Assets

Up

$8,299,154

Up $23,206 (+0.3%) from 2016

Net Assets

Up

$8,299,154

Up $23,706 (+0.3%) from 2016

Liabilities

Down

$0

Down $500 (-100%) from 2016

Revenue

Down

$170,858

Down $446,931 (-72%) from 2016

Expenses

Down

$29,563

Down $275,973 (-90%) from 2016

Net Income

Down

$141,295

Down $170,958 (-55%) from 2016

Historical Trend

Balance Sheet Trend

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

$10M$5.0M$0Assets 2010: $7,793,112Liabilities 2010: $285,112Net Assets 2010: $7,508,0002010Assets 2011: $8,135,336Liabilities 2011: $84,270Net Assets 2011: $8,051,0662011Assets 2012: $7,939,393Liabilities 2012: $105,494Net Assets 2012: $7,833,8992012Assets 2013: $8,559,027Liabilities 2013: $65,820Net Assets 2013: $8,493,2072013Assets 2014: $8,523,411Liabilities 2014: $10,023Net Assets 2014: $8,513,3882014Assets 2015: $8,366,586Liabilities 2015: $128,060Net Assets 2015: $8,238,5262015Assets 2016: $8,275,948Liabilities 2016: $500Net Assets 2016: $8,275,4482016Assets 2017: $8,299,154Liabilities 2017: $0Net Assets 2017: $8,299,1542017Assets 2018: $32,935Liabilities 2018: $0Net Assets 2018: $32,9352018

Highlighted filing

2017

Assets$8,299,154
Liabilities$0
Net Assets$8,299,154

Operations Trend

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

$10M$5.0M$0-$5.0M-$10MExpenses 2010: $1,035,7922010Revenue 2011: $72,966Expenses 2011: $96,680Net Income 2011: -$23,7142011Expenses 2012: $1,108,5032012Revenue 2013: $545,121Expenses 2013: $474,721Net Income 2013: $70,4002013Revenue 2014: $782,941Expenses 2014: $542,992Net Income 2014: $239,9492014Revenue 2015: $639,712Expenses 2015: $334,453Net Income 2015: $305,2592015Revenue 2016: $617,789Expenses 2016: $305,536Net Income 2016: $312,2532016Revenue 2017: $170,858Expenses 2017: $29,563Net Income 2017: $141,2952017Revenue 2018: $86Expenses 2018: $8,266,804Net Income 2018: -$8,266,7182018

Highlighted filing

2017

Revenue$170,858
Expenses$29,563
Net Income$141,295
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 6, 2018
Return Version
2017v2.3
Gross Receipts
$3,224,876
Mission and Program Overview

Mission

Real resources foundation supports the benevolent efforts of its affiliated family ministries as well as select strategic initiatives.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$11,480$17,221▲ $5,741
Investments in Publicly Traded Securities$3,069,863$15,846▼ $3,054,017
Accounts Receivable$7,344$0▼ $7,344
Prepaid Expenses and Deferred Charges$4,500$0▼ $4,500
Total Assets$8,275,948$8,299,154▲ $23,206
Other Assets Total$5,182,761$8,266,087▲ $3,083,326
Liabilities
Accounts Payable and Accrued Expenses$500$0▼ $500
Total Liabilities$500$0▼ $500
Net Assets / Fund Balance
Unrestricted Net Assets$8,275,448$8,299,154▲ $23,706
Total Net Assets Fund Balance$8,275,448$8,299,154▲ $23,706
Total Liabilities and Net Assets / Fund Balance$8,275,948$8,299,154▲ $23,206

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$8,266,087--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Gary ClarkCEO (left 6/30/17)PT$126,036$126,036
Phil WolfCFO-$120,816$120,816
Pamela ErwinDirector/interim CEO-$60,053$60,053
Cesar CastillejosDirector-$20,000$20,000

Board Members and Trustees

NameTitle
Steve ColemanChairman
Sharon SampsonVice Chairman
Andrew LonsburyDirector
Anthony HoangDirector
Edrin WilliamsDirector
Leah WongDirector
Matt RunionDirector
Rafa RobertDirector
Kari NormanDirector (left 3/20/17)
Mark ThompsonDirector (left 3/20/17)
Jim OlsonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$3,500
Program Service Revenue
$0
Investment Income
$167,344
Other Revenue
$14
All Other Contributions
$3,500
Change in Net Assets
$141,295
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$26,050
Other Expenses$3,513
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$26,050--$26,050
Fees for Service Investment Mgmnt Fees-$1,943-$1,943
Conferences and Meetings-$755-$755
Other Expenses-$700-$700
Travel-$77-$77
Fees for Services Other-$25-$25
Office Expenses-$13-$13
Total Functional Expenses$26,050$3,513$0$29,563
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
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 7A

Real resources, inc. Took over governance of the board for 2017.

Form 990, Part VI, Section A, Line 8B

The foundation did not have any committees with authority to act on behalf of the governing body.

Form 990, Part VI, Section B, Line 11B

The form 990 is reviewed by management and the finance committee of the board of directors of real resources, inc. And then ratified by the board of directors of real resources, inc.

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

Each responsible person annually completes 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. Responsible persons include board of directors, officers and key employees. Each responsible person must review the policy annually and complete a written disclosure form which is then made available to the committee appointed to address conflict of interest issues. Prior to board or committee action on a contract or transaction involving a conflict of interest, a trustee or committee member having a conflict of interest is required to disclose all material facts. A person who has a conflict of interest does not participate in, and is not permitted to hear, the board's or committee's discussion of the matter except to disclose material facts and to respond to questions. Such person may not attempt to exert his or her personal influence with respect to the matter, either at or outside the meeting. The person having a conflict of interest may not vote on the contract or transaction and may not be present in the meeting room when the vote is taken, unless the vote is by secret ballot. All proceedings are documented in the meeting minutes. Responsible persons who are not trustees and who have a conflict of interest with respect to a contract or transaction are required to disclose the information to the chair or the chair's designee as soon as the conflict of interest is known to the responsible person. The responsible person may not take any action that may affect the foundation's participation in such contract or transaction. In the event it is not entirely clear that a conflict of interest exists, the chair or the chair's designee determines whether there exists a conflict of interest that is subject to this policy. Due to suspending of operations, this was not done for 2017.

Form 990, Part VI, Section C, Line 19

The foundation does not make its governing documents, conflict of interest policy and financial statements available to the public.

Filing and Contact Details

Filer

Filer Name
Real Resources Foundation
EIN
41-1973954
Phone
6127295444
Address
5320 WEST 23RD STREET NO 130, MINNEAPOLIS, MN 55416

Signing Officer

Name
Philip D Wolf
Title
CFO
Phone
6127295444
Signed
2018-11-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jim Olson
Formed
2000
Legal Domicile
Mn
Voting Board Members
11
Independent Board Members
10
Employees
0
Volunteers
13

Preparer

Firm
Cliftonlarsonallen Llp
Address
220 SOUTH SIXTH STREET SUITE 300, MINNEAPOLIS, MN 55402
Preparer
Karen Gries
Phone
6123764500
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

Real resources foundation is a tax-exempt organization under section 501(c)(3) of the internal revenue code. Therefore, no provision for income taxes is made in the accompanying consolidated financial statements. The foundation has been classified as an organization that is a public charity under the internal revenue code and charitable contributions to the foundation are tax deductible. The foundation follows the income tax standard regarding the recognition and measurement of uncertain tax positions. The foundation's tax returns are subject to review by federal and state authorities. The foundation is not aware of any activities that would jeopardize its tax-exempt status.

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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DUE FROM REAL RESOURCES INC.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0REAL RESOURCES FOUNDATION IS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THEREFORE, NO PROVISION FOR INCOME TAXES IS MADE IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. THE FOUNDATION HAS BEEN CLASSIFIED AS AN ORGANIZATION THAT IS A PUBLIC CHARITY UNDER THE INTERNAL REVENUE CODE AND CHARITABLE CONTRIBUTIONS TO THE FOUNDATION ARE TAX DEDUCTIBLE. THE FOUNDATION FOLLOWS THE INCOME TAX STANDARD REGARDING THE RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. THE FOUNDATION'S TAX RETURNS ARE SUBJECT TO REVIEW BY FEDERAL AND STATE AUTHORITIES. THE FOUNDATION IS NOT AWARE OF ANY ACTIVITIES THAT WOULD JEOPARDIZE ITS TAX-EXEMPT STATUS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueOtherAssetsAmt08266087
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
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IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0THE FILING ORGANIZATION RELIED ON A RELATED ORGANIZATION TO ESTABLISH COMPENSATION FOR THE ORGANIZATION'S CEO. THE RELATED ORGANIZATION USED THE FOLLOWING METHODS TO DETERMINE THE COMPENSATION: COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 3
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0REAL RESOURCES, INC. TOOK OVER GOVERNANCE OF THE BOARD FOR 2017.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FOUNDATION DID NOT HAVE ANY COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORM 990 IS REVIEWED BY MANAGEMENT AND THE FINANCE COMMITTEE OF THE BOARD OF DIRECTORS OF REAL RESOURCES, INC. AND THEN RATIFIED BY THE BOARD OF DIRECTORS OF REAL RESOURCES, INC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3EACH RESPONSIBLE PERSON ANNUALLY COMPLETES 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. RESPONSIBLE PERSONS INCLUDE BOARD OF DIRECTORS, OFFICERS AND KEY EMPLOYEES. EACH RESPONSIBLE PERSON MUST REVIEW THE POLICY ANNUALLY AND COMPLETE A WRITTEN DISCLOSURE FORM WHICH IS THEN MADE AVAILABLE TO THE COMMITTEE APPOINTED TO ADDRESS CONFLICT OF INTEREST ISSUES. PRIOR TO BOARD OR COMMITTEE ACTION ON A CONTRACT OR TRANSACTION INVOLVING A CONFLICT OF INTEREST, A TRUSTEE OR COMMITTEE MEMBER HAVING A CONFLICT OF INTEREST IS REQUIRED TO DISCLOSE ALL MATERIAL FACTS. A PERSON WHO HAS A CONFLICT OF INTEREST DOES NOT PARTICIPATE IN, AND IS NOT PERMITTED TO HEAR, THE BOARD'S OR COMMITTEE'S DISCUSSION OF THE MATTER EXCEPT TO DISCLOSE MATERIAL FACTS AND TO RESPOND TO QUESTIONS. SUCH PERSON MAY NOT ATTEMPT TO EXERT HIS OR HER PERSONAL INFLUENCE WITH RESPECT TO THE MATTER, EITHER AT OR OUTSIDE THE MEETING. THE PERSON HAVING A CONFLICT OF INTEREST MAY NOT VOTE ON THE CONTRACT OR TRANSACTION AND MAY NOT BE PRESENT IN THE MEETING ROOM WHEN THE VOTE IS TAKEN, UNLESS THE VOTE IS BY SECRET BALLOT. ALL PROCEEDINGS ARE DOCUMENTED IN THE MEETING MINUTES. RESPONSIBLE PERSONS WHO ARE NOT TRUSTEES AND WHO HAVE A CONFLICT OF INTEREST WITH RESPECT TO A CONTRACT OR TRANSACTION ARE REQUIRED TO DISCLOSE THE INFORMATION TO THE CHAIR OR THE CHAIR'S DESIGNEE AS SOON AS THE CONFLICT OF INTEREST IS KNOWN TO THE RESPONSIBLE PERSON. THE RESPONSIBLE PERSON MAY NOT TAKE ANY ACTION THAT MAY AFFECT THE FOUNDATION'S PARTICIPATION IN SUCH CONTRACT OR TRANSACTION. IN THE EVENT IT IS NOT ENTIRELY CLEAR THAT A CONFLICT OF INTEREST EXISTS, THE CHAIR OR THE CHAIR'S DESIGNEE DETERMINES WHETHER THERE EXISTS A CONFLICT OF INTEREST THAT IS SUBJECT TO THIS POLICY. DUE TO SUSPENDING OF OPERATIONS, THIS WAS NOT DONE FOR 2017.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE FOUNDATION DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0REAL RESOURCES INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0411772958
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0YOUTH SERVICES
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 11
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt05320 WEST 23RD STREET SUITE 130
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0MINNEAPOLIS
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IRS990ScheduleR/PaidEmployeesSharingInd01
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IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
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IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
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IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0CASH TRANSFER
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IRS990/TerminateOperationsInd00
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