Civic Intelligence

Rc 24 Foundation Inc D/B/A Rc 22 Foundation Inc

990 • Fiscal year 2020 • EIN 45-3651131

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 10, 2021

1450 Brickell Avenue 18th FloorMiami, FL 33131

(305) 373-5500

Siviq Scores

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

Liabilities / Assets

65th percentile

0.06x

Higher debt load relative to assets than 65% of similar nonprofits.

2020 filings • NTEE Q • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

67th percentile

0.05x

Higher debt load relative to revenue than 67% of similar nonprofits.

2020 filings • NTEE Q • $500k-$1M nonprofits • Source year 2020

Net Margin

29th percentile

-5.7%

Higher net margin than 29% of similar nonprofits.

2020 filings • NTEE Q • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

56th percentile

$0

Higher top officer pay than 56% of similar nonprofits.

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

2020 filings • NTEE Q • $500k-$1M nonprofits • Source year 2020

Asset Growth

31st percentile

-5.7%

Faster asset growth than 31% of similar nonprofits.

2020 filings • NTEE Q • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

81st percentile

73%

Faster revenue growth than 81% of similar nonprofits.

2020 filings • NTEE Q • $500k-$1M nonprofits • Annualized from 2019 to 2020

Assets

Down

$744,435

Down $45,139 (-5.7%) from 2019

Net Assets

Down

$702,949

Down $51,903 (-6.9%) from 2019

Liabilities

Up

$41,486

Up $6,764 (+19%) from 2019

Revenue

Up

$910,499

Up $383,244 (+73%) from 2019

Expenses

Up

$962,403

Up $462,543 (+93%) from 2019

Net Income

Down

-$51,904

Down $79,299 (-289%) from 2019

Historical Trend

Balance Sheet Trend

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

$1.5M$1.0M$500K$0Assets 2012: $229,875Liabilities 2012: $0Net Assets 2012: $229,8752012Assets 2013: $365,651Liabilities 2013: $0Net Assets 2013: $365,6512013Assets 2014: $742,796Liabilities 2014: $107,408Net Assets 2014: $635,3882014Assets 2015: $1,291,671Liabilities 2015: $87,275Net Assets 2015: $1,204,3962015Assets 2016: $1,260,019Liabilities 2016: $358,724Net Assets 2016: $901,2952016Assets 2017: $833,354Liabilities 2017: $53,714Net Assets 2017: $779,6402017Assets 2018: $815,579Liabilities 2018: $88,122Net Assets 2018: $727,4572018Assets 2019: $789,574Liabilities 2019: $34,722Net Assets 2019: $754,8522019Assets 2020: $744,435Liabilities 2020: $41,486Net Assets 2020: $702,9492020Assets 2021: $716,170Liabilities 2021: $144Net Assets 2021: $716,0262021Assets 2022: $695,990Liabilities 2022: $144Net Assets 2022: $695,8462022Assets 2023: $672,087Liabilities 2023: $144Net Assets 2023: $671,9432023Assets 2024: $651,235Liabilities 2024: $144Net Assets 2024: $651,0912024

Highlighted filing

2020

Assets$744,435
Liabilities$41,486
Net Assets$702,949

Operations Trend

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

$2.0M$1.5M$1.0M$500K$0-$500KExpenses 2012: $38,6522012Revenue 2013: $373,687Expenses 2013: $237,911Net Income 2013: $135,7762013Revenue 2014: $542,184Expenses 2014: $272,447Net Income 2014: $269,7372014Revenue 2015: $1,026,489Expenses 2015: $532,970Net Income 2015: $493,5192015Revenue 2016: $1,225,960Expenses 2016: $1,529,061Net Income 2016: -$303,1012016Revenue 2017: $293,022Expenses 2017: $414,677Net Income 2017: -$121,6552017Revenue 2018: $288,488Expenses 2018: $340,671Net Income 2018: -$52,1832018Revenue 2019: $527,255Expenses 2019: $499,860Net Income 2019: $27,3952019Revenue 2020: $910,499Expenses 2020: $962,403Net Income 2020: -$51,9042020Revenue 2021: $165,574Expenses 2021: $152,497Net Income 2021: $13,0772021Revenue 2022: $89,062Expenses 2022: $109,242Net Income 2022: -$20,1802022Revenue 2023: $14,402Expenses 2023: $38,305Net Income 2023: -$23,9032023Revenue 2024: $5,000Expenses 2024: $25,852Net Income 2024: -$20,8522024

Highlighted filing

2020

Revenue$910,499
Expenses$962,403
Net Income-$51,904
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 10, 2021
Return Version
2020v4.1
Gross Receipts
$910,499
Mission and Program Overview

Mission

SEE SCHEDULE O

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$753,671$732,286▼ $21,385
Rtn Earn Endowment Incm Other Fnds$754,852$702,949▼ $51,903
Cash and Non-Interest-Bearing Accounts$35,903$12,149▼ $23,754
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$789,574$744,435▼ $45,139
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$34,722$41,486▲ $6,764
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$34,722$41,486▲ $6,764
Net Assets / Fund Balance
Total Net Assets Fund Balance$754,852$702,949▼ $51,903
Total Liabilities and Net Assets / Fund Balance$789,574$744,435▼ $45,139

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$689,425$103,427$792,852
Land$24,136-$24,136
Other Land Buildings$18,725$4,742$23,467
Compensation and Service Providers

Board Members and Trustees

NameTitle
Robinson Canopresident
Claribel MercedesDirector
Joselito CanoDirector
Crisselle SantanaSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$909,499
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$1,000
All Other Contributions
$909,499
Change in Net Assets
$-51,904

Audited Revenue Reconciliation

Revenue per Audited Statements
$910,499
Revenue Not Reported on Form 990
$65,689
Total Revenue per Audited Statements
$976,188
Total Revenue per Form 990
$910,499
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$932,327
Other Expenses$30,076
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Foreign Grants$932,327--$932,327
Depreciation Depletion$21,385--$21,385
Fees for Services Accounting-$5,671-$5,671
Office Expenses-$2,135-$2,135
Other Expenses-$-16-$-16
Total Functional Expenses$953,712$8,691$0$962,403

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,028,092
Expenses per Audited Statements$962,403
Total Expenses per Form 990$962,403
Expenses Not Reported on Form 990$65,689
International Activity

International Compliance

Foreign grant records maintained
No
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
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
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
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 35% controlled entity
No
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

FORM 990, PART VI, SECTION A, LINE 2:

Claribel mercedes, director, is the mother of robinson cano, president and director. Joselito cano, director, is the father of robinson cano.

FORM 990, PART VI, SECTION B, LINE 11B:

The form 990 is prepared by the foundation's certified public accountants. It is reviewed and approved by the foundation's president. The form 990 is furnished to the board of directors before it is filed.

FORM 990, PART VI, SECTION B, LINE 12C:

If any director, or closely associated party has direct or indirect financial interest in the act contemplated by this foundation, that director is required to inform the board of his or her interest and is required to abstain from any vote on the matter.

FORM 990, PART VI, SECTION C, LINE 19:

The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Rc22 Foundation Inc
EIN
45-3651131
In Care Of
% CRISSELLE SANTANA
Phone
3053735500
Address
1450 BRICKELL AVENUE 18TH FLOOR, MIAMI, FL 33131

Signing Officer

Name
Crisselle Santana
Title
Secretary
Phone
3053735500
Signed
2021-11-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Crisselle Santana
Formed
2011
Legal Domicile
Ny
Voting Board Members
3
Independent Board Members
1
Employees
0
Volunteers
4

Preparer

Firm
Bdo USA Llp
Address
1100 PEACHTREE STREET NE SUITE 700, ATLANTA, GA 30309-4516
Preparer
Sandra L Feinsmith
Phone
4046886841
Supplemental Narrative

Additional Explanations

FORM 990, PART I LINE 1, DESCRIPTION OF ORGANIZATION MISSION:

The mission of the rc22 foundation is to positively impact the lives of underserved children and communities both locally and globally by expanding opportunities for improved outcomes in the areas of youth development and community healthcare. The foundation works to provide access to proper medical, social, athletic and educational opportunities for underprivileged groups.

FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION MISSION:

The mission of the rc22 foundation is to positively impact the lives of underserved children and communities both locally and globally. The foundation has established and engaged in various initiatives that expand opportunities for improved outcomes in the areas of youth development and community healthcare.

FORM 990, PART XII, LINE 2C:

The board of directors chooses an organization separate from the accounting firm that prepares the tax returns and the accounting for the foundation in order to ensure proper checks and balances between the two accounting firms.

Financial Statement Notes

PART X, LINE 2:

The foundation is exempt from income taxes as an organization (not a private foundation) formed for charitable purposes and is tax-exempt under section 501(c)(3) of the internal revenue code. Donors may deduct contributions made to the foundation within internal revenue code regulations. The foundation is subject to federal and state tax on income from any unrelated business. Income tax benefits are recognized for income tax positions taken or expected to be taken in a tax return, only when it is determined that the income tax position will more-likely-than-not be sustained upon examination by taxing authorities. The foundation has analyzed tax positions taken for filing with the internal revenue service and all state jurisdictions where it operates. The foundation believes that income tax filing positions will be sustained upon examination and does not anticipate any adjustments that would result in a material adverse effect on the foundation's financial condition, change in net assets or cash flows. Accordingly, the foundation has not recorded any reserves, or related accruals for interest and penalties for uncertain income tax positions at december 31, 2020 and 2019. The foundation is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The foundation's federal and state income tax returns are generally open to examination beginning with fiscal year ended 2017.

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IRS990/ProgSrvcAccomActy2Grp/Desc0DURING 2014, THE FOUNDATION BEGAN TO DEVELOP AND CONSTRUCT THE RC22 DREAM SCHOOL. THE RC22 DREAM SCHOOL IS A MONTESSORI STYLE EARLY CHILDHOOD EDUCATION CENTER.THE SCHOOL OPENED IN NOVEMBER 2015 AND SERVES 100 YOUTH, AGES 3-8, IN SAN PEDRO DE MACORIS, DOMINICAN REPUBLIC, AND OFFERS HOLISTIC COMMUNITY AND EMPLOYMENT TRAINING PROGRAMS FOR RESIDENTS.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION IS EXEMPT FROM INCOME TAXES AS AN ORGANIZATION (NOT A PRIVATE FOUNDATION) FORMED FOR CHARITABLE PURPOSES AND IS TAX-EXEMPT UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. DONORS MAY DEDUCT CONTRIBUTIONS MADE TO THE FOUNDATION WITHIN INTERNAL REVENUE CODE REGULATIONS. THE FOUNDATION IS SUBJECT TO FEDERAL AND STATE TAX ON INCOME FROM ANY UNRELATED BUSINESS. INCOME TAX BENEFITS ARE RECOGNIZED FOR INCOME TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, ONLY WHEN IT IS DETERMINED THAT THE INCOME TAX POSITION WILL MORE-LIKELY-THAN-NOT BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. THE FOUNDATION HAS ANALYZED TAX POSITIONS TAKEN FOR FILING WITH THE INTERNAL REVENUE SERVICE AND ALL STATE JURISDICTIONS WHERE IT OPERATES. THE FOUNDATION BELIEVES THAT INCOME TAX FILING POSITIONS WILL BE SUSTAINED UPON EXAMINATION AND DOES NOT ANTICIPATE ANY ADJUSTMENTS THAT WOULD RESULT IN A MATERIAL ADVERSE EFFECT ON THE FOUNDATION'S FINANCIAL CONDITION, CHANGE IN NET ASSETS OR CASH FLOWS. ACCORDINGLY, THE FOUNDATION HAS NOT RECORDED ANY RESERVES, OR RELATED ACCRUALS FOR INTEREST AND PENALTIES FOR UNCERTAIN INCOME TAX POSITIONS AT DECEMBER 31, 2020 AND 2019. THE FOUNDATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. THE FOUNDATION'S FEDERAL AND STATE INCOME TAX RETURNS ARE GENERALLY OPEN TO EXAMINATION BEGINNING WITH FISCAL YEAR ENDED 2017.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt0operations
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt1covid-19
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/RegionTxt0Central America and the Caribbean
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/RegionTxt1Central America and the Caribbean
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE MISSION OF THE RC22 FOUNDATION IS TO POSITIVELY IMPACT THE LIVES OF UNDERSERVED CHILDREN AND COMMUNITIES BOTH LOCALLY AND GLOBALLY BY EXPANDING OPPORTUNITIES FOR IMPROVED OUTCOMES IN THE AREAS OF YOUTH DEVELOPMENT AND COMMUNITY HEALTHCARE. THE FOUNDATION WORKS TO PROVIDE ACCESS TO PROPER MEDICAL, SOCIAL, ATHLETIC AND EDUCATIONAL OPPORTUNITIES FOR UNDERPRIVILEGED GROUPS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE MISSION OF THE RC22 FOUNDATION IS TO POSITIVELY IMPACT THE LIVES OF UNDERSERVED CHILDREN AND COMMUNITIES BOTH LOCALLY AND GLOBALLY. THE FOUNDATION HAS ESTABLISHED AND ENGAGED IN VARIOUS INITIATIVES THAT EXPAND OPPORTUNITIES FOR IMPROVED OUTCOMES IN THE AREAS OF YOUTH DEVELOPMENT AND COMMUNITY HEALTHCARE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CLARIBEL MERCEDES, DIRECTOR, IS THE MOTHER OF ROBINSON CANO, PRESIDENT AND DIRECTOR. JOSELITO CANO, DIRECTOR, IS THE FATHER OF ROBINSON CANO.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FORM 990 IS PREPARED BY THE FOUNDATION'S CERTIFIED PUBLIC ACCOUNTANTS. IT IS REVIEWED AND APPROVED BY THE FOUNDATION'S PRESIDENT. THE FORM 990 IS FURNISHED TO THE BOARD OF DIRECTORS BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4IF ANY DIRECTOR, OR CLOSELY ASSOCIATED PARTY HAS DIRECT OR INDIRECT FINANCIAL INTEREST IN THE ACT CONTEMPLATED BY THIS FOUNDATION, THAT DIRECTOR IS REQUIRED TO INFORM THE BOARD OF HIS OR HER INTEREST AND IS REQUIRED TO ABSTAIN FROM ANY VOTE ON THE MATTER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE BOARD OF DIRECTORS CHOOSES AN ORGANIZATION SEPARATE FROM THE ACCOUNTING FIRM THAT PREPARES THE TAX RETURNS AND THE ACCOUNTING FOR THE FOUNDATION IN ORDER TO ENSURE PROPER CHECKS AND BALANCES BETWEEN THE TWO ACCOUNTING FIRMS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART I LINE 1, DESCRIPTION OF ORGANIZATION MISSION:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION MISSION:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 2:
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 12C:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XII, LINE 2C:
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