Civic Intelligence

Pearl Initiative Inc

990 • Fiscal year 2013 • EIN 45-4442459

Jan 01, 2013 to Dec 31, 2013 • Filed on Nov 17, 2014

Organization Profilewww.pearlinitiative.org
26 Old Lyme Road10583

(000) 000-0000

Siviq Scores

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

Liabilities / Assets

98th percentile

1.97x

Higher debt load relative to assets than 98% of similar nonprofits.

2013 filings • NTEE S • $500k-$1M nonprofits • Source year 2013

Liabilities / Revenue

85th percentile

0.78x

Higher debt load relative to revenue than 85% of similar nonprofits.

2013 filings • NTEE S • $500k-$1M nonprofits • Source year 2013

Net Margin

33rd percentile

-4.5%

Higher net margin than 33% of similar nonprofits.

2013 filings • NTEE S • $500k-$1M nonprofits • Source year 2013

Top Officer Pay

92nd percentile

$169,205

Higher top officer pay than 92% of similar nonprofits.

Top officer pay equals 24.2% of source-year revenue.

2013 filings • NTEE S • $500k-$1M nonprofits • Source year 2013

Asset Growth

13th percentile

-17%

Faster asset growth than 13% of similar nonprofits.

2013 filings • NTEE S • $500k-$1M nonprofits • Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2013

Balance Sheet
Liabilities / Assets98th percentile

Assets

Down

$275,261

Down $57,817 (-17%) from 2012

Net Assets

Down

-$267,505

Down $31,730 (-13%) from 2012

Liabilities

Down

$542,766

Down $26,087 (-4.6%) from 2012

Revenue And Expenses
Liabilities / Revenue85th percentileNet Margin33rd percentile

Revenue

$699,590

No earlier filing loaded for comparison.

Expenses

Down

$731,320

Down $1,184 (-0.2%) from 2012

Net Income

-$31,730

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth13th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MAssets 2012: $333,078Liabilities 2012: $568,853Net Assets 2012: -$235,7752012Assets 2013: $275,261Liabilities 2013: $542,766Net Assets 2013: -$267,5052013Assets 2014: $508,945Liabilities 2014: $677,040Net Assets 2014: -$168,0952014Assets 2015: $1,059,233Liabilities 2015: $1,026,820Net Assets 2015: $32,4132015Assets 2016: $1,481,283Liabilities 2016: $230,601Net Assets 2016: $1,250,6822016Assets 2017: $1,963,416Liabilities 2017: $249,768Net Assets 2017: $1,713,6482017Assets 2018: $2,487,834Liabilities 2018: $235,735Net Assets 2018: $2,252,0992018Assets 2019: $2,868,341Liabilities 2019: $248,675Net Assets 2019: $2,619,6662019Assets 2020: $2,602,368Liabilities 2020: $197,463Net Assets 2020: $2,404,9052020Assets 2021: $2,134,359Liabilities 2021: $69,209Net Assets 2021: $2,065,1502021Assets 2022: $2,058,110Liabilities 2022: $240,044Net Assets 2022: $1,818,0662022Assets 2023: $1,921,690Liabilities 2023: $306,384Net Assets 2023: $1,615,3062023Assets 2024: $2,067,155Liabilities 2024: $602,550Net Assets 2024: $1,464,6052024

Highlighted filing

2013

Assets$275,261
Liabilities$542,766
Net Assets-$267,505
Open 2013 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2012: $732,5042012Revenue 2013: $699,590Expenses 2013: $731,320Net Income 2013: -$31,7302013Revenue 2014: $973,505Expenses 2014: $874,095Net Income 2014: $99,4102014Revenue 2015: $1,441,874Expenses 2015: $1,211,207Net Income 2015: $230,6672015Revenue 2016: $2,136,290Expenses 2016: $1,418,021Net Income 2016: $718,2692016Revenue 2017: $1,868,695Expenses 2017: $1,405,729Net Income 2017: $462,9662017Revenue 2018: $1,855,208Expenses 2018: $1,316,757Net Income 2018: $538,4512018Revenue 2019: $1,613,782Expenses 2019: $1,246,215Net Income 2019: $367,5672019Revenue 2020: $825,151Expenses 2020: $1,039,912Net Income 2020: -$214,7612020Revenue 2021: $661,891Expenses 2021: $1,001,646Net Income 2021: -$339,7552021Revenue 2022: $923,271Expenses 2022: $1,170,355Net Income 2022: -$247,0842022Revenue 2023: $936,869Expenses 2023: $1,139,629Net Income 2023: -$202,7602023Revenue 2024: $765,368Expenses 2024: $916,069Net Income 2024: -$150,7012024

Highlighted filing

2013

Revenue$699,590
Expenses$731,320
Net Income-$31,730
Open 2013 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Nov 17, 2014
Return Version
2013v3.1
Gross Receipts
$699,590
Mission and Program Overview

Mission

Pearl Initiative is an association of persons having a common business interest in trade between the United States and the Arabian Gulf region and within the region. Pearl Initiatives purpose is to promote the common economic interests of all commercial enterprises with the U.S.-Arabian Gulf region trade community by dedicating itself to improving transparency, accountability and business practices with the community. The plan for Pearl Initiative has been developed in cooperationwith the United Nations Office for Partnerships and is recognized as a center of excellence at the American University of Sharjah. Pearl Initiative aims to improve business conditions for U.S. businesses interested or engaged in the region and regional businesses by creating a culture of greater transparency and accountability within the Arabian Gulf region, thereby fostering competitive economic growth and sustainable social development.

Pearl Initiative is an association of persons having a common business interest in trade between the United States and the Arabian Gulf region and within the region.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$135,000$165,000▲ $30,000
Cash and Non-Interest-Bearing Accounts$192,559$90,406▼ $102,153
Other Notes and Loans Receivable, Net$605$13,093▲ $12,488
Prepaid Expenses and Deferred Charges$4,913$6,762▲ $1,849
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$333,078$275,261▼ $57,817
Other Assets Total$1$0▼ $1
Liabilities
Other Liabilities$480,351$446,929▼ $33,422
Deferred Revenue-$52,083-
Accounts Payable and Accrued Expenses$88,502$43,754▼ $44,748
Total Liabilities$568,853$542,766▼ $26,087
Net Assets / Fund Balance
Unrestricted Net Assets$-235,775$-267,505▼ $31,730
Total Net Assets Fund Balance$-235,775$-267,505▼ $31,730
Total Liabilities and Net Assets / Fund Balance$333,078$275,261▼ $57,817
Compensation and Service Providers
Top Officer Pay92nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Imelda DunlopSecretary & EDFT$165,956$3,249$169,205

Board Members and Trustees

NameTitle
Hamid Dhiya JafarChairman
Abdulaziz H AljomaihVice Chairman
Riad Al SadiqVice Chairman
Abdulaziz Al SowailimDirector
Abdulla MazruiDirector
Amir DossalDirector
Arif NaqviDirector
Badr JafarDirector
Fadi GhandourDirector
Fahad Al TurkiDirector
Hani AshkarDirector
Helal Saeed AlmarriDirector
Iyad MalasDirector
Jamal FakhroDirector
Khalid Al-rajhiDirector
Khalid Bin Thani a Al-thaniDirector
Rashad M Al ZubairDirector
Samer KhouryDirector
Varouj NerguizianDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$699,521
Program Service Revenue
$0
Investment Income
$69
Other Revenue
$0
All Other Contributions
$41,604
Change in Net Assets
$-31,730
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$404,307
Other Expenses$327,013
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$235,102
Current Officers, Directors, Trustees, and Key Employees---$169,205
Travel---$74,070
All Other Expenses---$35,693
Insurance---$25,460
Other Expenses---$21,112
Fees for Services Legal---$6,937
Fees for Services Accounting---$3,150
Office Expenses---$-5,743
Total Functional Expenses$0$0$0$731,320
International Activity

International Summary

Offices
1
Employees
5
Spending
$731,320

International Compliance

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

International Activities

RegionActivityServicesOfficesEmployeesSpending
Mid. East & North AfricaSubstantially AllSee Main Form 99015$731,320
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
In-house lobbying only
Yes
Subject to proxy tax
Yes
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Hamid JafarChairmanSupport ServicesNo$57,026

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Loan Payable$424,556
Accrued Severence Benefits$22,373
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
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
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

“Pearl Initiative, Inc. (the Corporation) shall have both voting membersand supporting members. All members of the Corporation shall be businesses, companies,corporations, partnerships, or proprietors (including individuals, corporations or unincorporated associations) who do business in the Arabian Gulf region or between the United States and the Arabian Gulf region. The Corporation shall keep a roll of members that shall be recorded and maintained by the Secretary.Voting Members: The Board of Governors shall be the voting members of theCorporation.Supporting Members: Supporting members are those that provide a level of support tothe Corporation as required by the Board of Governors, and subscribe to the goals and mission of the Corporation. Supporting members shall not be voting members of the Corporation. There shall be no limit on the number of supporting members authorized.”

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

“A copy of the Form 990 shall be distributed to the full Board in advance of filing for review and consideration.The Board of Governors shall receive a final copy of the IRS Form 990 no later than the nextscheduled meeting of the Board following submission of the Form 990 to the IRS.”

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

“The policy is monitored by an annual written affirmation statement.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“The Board of Governors of Pearl Initiative, Inc. has the authority to:A. Employ and compensate personnel as are needed to fulfill the mission of theorganization;B. Establish and review compensation guidelines; andC. Review and approve cash and noncash compensation policies and programs applicableto principal administrators and all other staff.”

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

“The Board of Governors of Pearl Initiative, Inc. has the authority to:A. Employ and compensate personnel as are needed to fulfill the mission of theorganization;B. Establish and review compensation guidelines; andC. Review and approve cash and noncash compensation policies and programs applicableto principal administrators and all other staff.”

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

“AVAILABLE UPON REQUEST”

Filing and Contact Details

Filer

EIN
45-4442459

Signing Officer

Name
Imelda Dunlop
Title
Secretary & ED
Signed
2014-11-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Imelda Dunlop
Formed
2010
Legal Domicile
Ny
Voting Board Members
18
Independent Board Members
18
Employees
0
Volunteers
18

Preparer

Preparer
Gary S Eisenkraft CPA
Phone
2126892655
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IRS990/Desc0The Pearl Initiative, developed in collaboration with the United Nations Office for Partnerships, is a GCC-based, private sector-led, not-for-profit organization set up to foster a corporate culture of transparency, accountability, good governance and best business practices in the Arab world. It is a growing regional network of business leaders committed to driving joint action, exhibiting positive leadership and sharing knowledge and experience.The Pearl Initiative was developed by the private sector for the private sector, within the Gulf region for the region. The philosophy of the Pearl Initiative recognizes that the private sector is fuelled by incentive. If corporations are to embrace good governance as part of the very fabric of their business models and not simply for a quick public-relations boost then they must be persuaded that it makes business sense to invest in good governance and responsible business practices. Corporate accountability and transparency are essential to generate and preserve value and build a healthy and competitive global business environment.Throughout the year Pearl Initiative has been driving tangible initiatives in areas such as anti-corruption, good governance, accountability, transparency and integrated reporting within the Gulf region. There are three streams of activity: 1. Collaborative Action and Dialogue ForumsThe Pearl Initiative catalyses joint collaborative action between regional and global business leaders, international institutions, government bodies, wider initiatives, and cross-sector partnerships.2. Knowledge creationThe Pearl Initiative fosters greater understanding and appreciation of the business case, issues and trends associated with transparency and accountability through the generation of new data, research, analysis and insight across the region. 3. University CollaborationsUniversity collaborations help build the capacity of future leaders to make a difference in creating a culture of transparency and accountability. The Pearl Initiative is collaborating with the American University of Sharjah and other leading Universities across the region to forge greater links with the private sector in teaching and research in areas of ethics, integrity, corporate governance and sustainability. The Pearl Initiative holds workshops in regional universities in which private sector leaders help bring the ethics and integrity topics to life with students though interactive discussion on real-life scenarios and case studies.
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2013 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$275,261
Liabilities
$542,766
Net assets
-$267,505
Revenue
$699,590
Expenses
$731,320
Net income
-$31,730
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.07$0.60$1.46$0.77$0.92$0.15
2023Summary only. Only limited summary data is available for this year.$1.92$0.31$1.62$0.94$1.14$0.20
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.06$0.24$1.82$0.92$1.17$0.25
2021Summary only. Only limited summary data is available for this year.$2.13$0.07$2.07$0.66$1.00$0.34
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.60$0.20$2.40$0.83$1.04$0.21
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.87$0.25$2.62$1.61$1.25$0.37
2018Summary only. Only limited summary data is available for this year.$2.49$0.24$2.25$1.86$1.32$0.54
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.96$0.25$1.71$1.87$1.41$0.46
2016Summary only. Only limited summary data is available for this year.$1.48$0.23$1.25$2.14$1.42$0.72
2015Detailed filing. Detailed filing data is available for this year.$1.06$1.03$0.03$1.44$1.21$0.23
2014Detailed filing. Detailed filing data is available for this year.$0.51$0.68$0.17$0.97$0.87$0.10
2013Detailed filing. Detailed filing data is available for this year.$0.28$0.54$0.27$0.70$0.73$0.03
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.33$0.57$0.24$0.73
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2013 filings • 501(c)6 • $500k-$1M nonprofits