Civic Intelligence

Public Interest Institute

990 • Fiscal year 2014 • EIN 42-1347192

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

PO Box 209Muscatine, IA 52761

(563) 264-8080

Siviq Scores

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

Liabilities / Assets

10th percentile

0.00x

Higher debt load relative to assets than 10% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Liabilities / Revenue

13th percentile

0.02x

Higher debt load relative to revenue than 13% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Net Margin

54th percentile

3.7%

Higher net margin than 54% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Top Officer Pay

89th percentile

$317,477

Higher top officer pay than 89% of similar nonprofits.

Top officer pay equals 69.7% of source-year revenue.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2014

Asset Growth

42nd percentile

0.8%

Faster asset growth than 42% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2013 to 2014

Revenue Growth

81st percentile

27%

Faster revenue growth than 81% of similar nonprofits.

2014 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2013 to 2014

Assets

Up

$6,567,899

Up $53,527 (+0.8%) from 2013

Net Assets

Up

$6,558,008

Up $52,471 (+0.8%) from 2013

Liabilities

Up

$9,891

Up $1,056 (+12%) from 2013

Revenue

Up

$455,408

Up $96,191 (+27%) from 2013

Expenses

Up

$438,344

Up $10,070 (+2.4%) from 2013

Net Income

Up

$17,064

Up $86,121 (+125%) from 2013

Historical Trend

Balance Sheet Trend

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2010: $7,206,975Liabilities 2010: $8,241Net Assets 2010: $7,198,7342010Assets 2011: $6,112,916Liabilities 2011: $11,577Net Assets 2011: $6,101,3392011Assets 2012: $6,076,190Liabilities 2012: $12,355Net Assets 2012: $6,063,8352012Assets 2013: $6,514,372Liabilities 2013: $8,835Net Assets 2013: $6,505,5372013Assets 2014: $6,567,899Liabilities 2014: $9,891Net Assets 2014: $6,558,0082014Assets 2015: $6,054,299Liabilities 2015: $6,531Net Assets 2015: $6,047,7682015Assets 2016: $6,088,959Liabilities 2016: $1,544Net Assets 2016: $6,087,4152016Assets 2017: $348,665Liabilities 2017: $242,895Net Assets 2017: $105,7702017Assets 2018: $0Net Assets 2018: $02018

Highlighted filing

2014

Assets$6,567,899
Liabilities$9,891
Net Assets$6,558,008

Operations Trend

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

$10M$5.0M$0-$5.0M-$10MRevenue 2010: $1,119,463Expenses 2010: $510,401Net Income 2010: $609,0622010Revenue 2011: -$90,340Expenses 2011: $465,209Net Income 2011: -$555,5492011Revenue 2012: $361,778Expenses 2012: $469,070Net Income 2012: -$107,2922012Revenue 2013: $359,217Expenses 2013: $428,274Net Income 2013: -$69,0572013Revenue 2014: $455,408Expenses 2014: $438,344Net Income 2014: $17,0642014Revenue 2015: $438,934Expenses 2015: $418,962Net Income 2015: $19,9722015Revenue 2016: $175,050Expenses 2016: $410,903Net Income 2016: -$235,8532016Revenue 2017: $848,225Expenses 2017: $6,579,127Net Income 2017: -$5,730,9022017Revenue 2018: $88Expenses 2018: $105,858Net Income 2018: -$105,7702018

Highlighted filing

2014

Revenue$455,408
Expenses$438,344
Net Income$17,064
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Oct 1, 2015
Return Version
2014v5.0
Gross Receipts
$1,190,711
Mission and Program Overview

Mission

Support iowa wesleyan college (iwc) and tax education foundation (tef), two section 501(c)(3) organizations through educational and research activities which support the educational and research activities of iwc or tef or both.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$6,297,952$6,359,252▲ $61,300
Savings and Temporary Cash Investments$214,989$205,517▼ $9,472
Accounts Receivable-$1,576-
Prepaid Expenses and Deferred Charges$1,431$1,554▲ $123
Cash and Non-Interest-Bearing Accounts-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$6,514,372$6,567,899▲ $53,527
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$8,835$9,891▲ $1,056
Total Liabilities$8,835$9,891▲ $1,056
Net Assets / Fund Balance
Permanently Rstr Net Assets$6,297,951$6,359,252▲ $61,301
Unrestricted Net Assets$207,586$198,756▼ $8,830
Total Net Assets Fund Balance$6,505,537$6,558,008▲ $52,471
Total Liabilities and Net Assets / Fund Balance$6,514,372$6,567,899▲ $53,527

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$27,244$27,244

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$6,297,951-▲ $369,142$307,841$6,359,252
2013$5,812,489-▲ $797,099$311,637$6,297,951
2012$5,821,852-▲ $291,669$301,032$5,812,489
2011$6,804,341-▼ $648,606$333,883$5,821,852
2010$6,248,567-▲ $946,051$390,277$6,804,341
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Donald P RacheterPresidentFT$132,239$11,150$143,389
Amy K FrantzVice PresidentFT$57,514$7,133$64,647

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$21,551
Program Service Revenue
$100,000
Investment Income
$333,857
Other Revenue
$0
Change in Net Assets
$17,064
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$393,296
Other Expenses$45,048
Total Fundraising Expense$9,305
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$171,600$19,500$3,900$195,000
Other Salaries and Wages$131,632$7,077$2,831$141,540
Other Employee Benefits$22,168$1,192$477$23,837
Payroll Taxes$19,269$1,036$414$20,719
Pension Plan Contributions$11,346$610$244$12,200
Occupancy$10,016$539$215$10,770
Office Expenses$3,904$448$242$4,594
Travel$3,822$205$82$4,109
Fees for Services Accounting$2,778$347$347$3,472
Conferences and Meetings$2,016$224-$2,240
Insurance$1,238$67$27$1,332
Other Expenses$120$18$3$141
Total Functional Expenses$396,729$32,310$9,305$438,344
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
Insider Transactions and Loans

Loans and Receivables

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

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder

Our organization has members. Members do not have voting rights.

Form 990, Part VI, Line 11B: Form 990 Review Process

Our annual Form 990 is sent to all members of the Board of Directors before it is filed. The Board of Directors reviews the Form 990 and any related question, comment, or concern together with the Board's review of our financial statements.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

Officers, Directors, and employees are required to make an annual disclosure of conflicts of interest. These disclosures are reviewed by designated Officers. When the Board of Directors considers a transaction or proposed transaction, each Director who has or may have a conflict of interest is required to disclose it promptly to the Board if not already disclosed. The other Directors then determine whether that Director has a conflict of interest. A Director who has a conflict of interest does not vote on any Board action regarding that transaction. Officers, Directors, and employees are required to report, and in most cases, deliver to our Organization, any gift of more than $25 value from a company doing or seeking business with our Organization.

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

The Chairman and Vice Chairman of our Organization, who receive no compensation from our Organization and are independent regarding compensation, annually determine the President's compensation and, together with the President, determine the compensation of all other employees. This process includes review of comparability data.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

Our governing documents, conflict of interest policy, and financial statements are not generally available to the public. We may make them available in specific situaTIons when we believe this is consistent with our mission and in the best interest of our members.

Filing and Contact Details

Filer

Filer Name
Public Interest Institute
EIN
42-1347192
Phone
5632648080
Address
PO BOX 209, MUSCATINE, IA 52761

Signing Officer

Name
Robert H Solt
Title
Treasurer
Signed
2015-10-01
Discuss with paid preparer
Yes

Organization Details

Formed
1989
Legal Domicile
Ia
Voting Board Members
8
Independent Board Members
6
Employees
5
Volunteers
100

Preparer

Firm
TD&T CPAs and Advisors PC
Address
317 HIGH AVE E, OSKALOOSA, IA 52577-2823
Preparer
Darcee M Ayers CPA
Phone
6416722523
Supplemental Narrative

Financial Statement Notes

Part V, Line 4: Intended uses of the endowment fund.

This Endowment provides income to support our Organization's mission and program services.

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IRS990/OtherExpensesGrp/Desc0INSTITUTE PUBLICATIONS
IRS990/OtherExpensesGrp/Desc1INFORMATION/RESEARCH MATERIALS
IRS990/OtherExpensesGrp/Desc2OTHER EXPENSES
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IRS990/ProgSrvcAccomActy2Grp/Desc0EDUCATION AND RESEARCH ON TAXATION, GOVERNMENT SPENDING, DEBT, LIMITED GOVERNMENT, GOVERNMENT TRANSPARENCY AND ACCOUNTABILITY, FREE ENTERPRISE, ECONOMIC GROWTH, CREATION OF JOBS, PRIVATE SECTOR ACTION, PUBLIC AND PRIVATE EDUCATION, INDEPENDENT COLLEGES, TRADITIONAL VALUES, HUMAN RIGHTS AND ECONOMIC, CIVIC AND RELIGIOUS FREEDOM. WE DO OUR WORK FOR THE BENEFIT OF ALL IOWANS AND ALL AMERICANS.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0123136
IRS990/ProgSrvcAccomActy3Grp/Desc0PROVIDING TEACHERS FOR IWC COURSES, STUDENT INTERN AND WORK-STUDY OPPORTUNITIES, LIBRARY PUBLICATIONS, PUBLIC FORUMS, INFORMAL DISCUSSION AND ACTIVITIES ON THE IWC CAMPUS, PUBLICATIONS USEFUL TO IWC FACULTY AND STUDENTS, INFORMATION ON IWC IN INSTITUTE PUBLICATIONS AND OTHER ASSISTANCE FOR IWC. THESE ACTIVITIES HELPED MANY IWC STUDENTS, PROVIDED OPPORTUNITIES FOR IWC STUDENTS AND STRENGTHENED IWC'S COURSE OFFERINGS. IWC'S POSITIVE REPUTATION WAS ENHANCED BY HOSTING OUR INDEPENDENT THINK TANK ON THE IWC CAMPUS. OUR WORK BENEFITTED IWC AND ITS STUDENTS AND FACULTY.
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0Iowa Wesleyan College:Iowa Wesleyan College (IWC) relies on Public Interest Institute (PII) to provide instructors for several college classes at no cost to IWC. PII also provides library publications to IWC as well as publications that are useful to IWC staff and students. PII's support of IWC strengthened IWC's course offerings.Tax Education Foundation:Tax Education Foundation (TEF) relies on Public Interest Institute for research on taxation and government spending. PII also provides TEF with 3 quarterly publications, a weekly column for Iowa newspapers,and information regarding transparency in Iowa government. PII provides TEF with the Iowa Civics project for high school courses in civics and government, as well as providing copies of the Iowa and US Constitutions.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1Public Interest Institute supplements Tax Education Foundation and Iowa Wesleyan College by providing additional services that advance the tax-exempt purposes of TEF and IWC.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0Part IV, Section E, Line 2a: Identify Supported Orgs. and Explain How Activities Furthered Exempt Pu
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc1Part IV, Section E, Line 2b: Reasons For The Organization's Position
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0IOWA WESLEYAN COLLEGE
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt1TAX EDUCATION FOUNDATION
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