Civic Intelligence

Libertas Network

990 • Fiscal year 2020 • EIN 45-5254794

Jan 01, 2020 to Dec 31, 2020 • Filed on Mar 30, 2021

Organization Profilelibertas.org
2183 W Main StreetLehi, UT 84043

(801) 901-0310

Siviq Scores

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

Liabilities / Assets

12th percentile

0.00x

Higher debt load relative to assets than 12% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Liabilities / Revenue

8th percentile

0.00x

Higher debt load relative to revenue than 8% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Net Margin

69th percentile

15%

Higher net margin than 69% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Top Officer Pay

40th percentile

$100,000

Higher top officer pay than 40% of similar nonprofits.

Top officer pay equals 1.1% of source-year revenue.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Asset Growth

97th percentile

153%

Faster asset growth than 97% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Revenue Growth

97th percentile

233%

Faster revenue growth than 97% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets12th percentile

Assets

Up

$2,202,040

Up $1,330,722 (+153%) from 2019

Net Assets

Up

$2,196,422

Up $1,325,104 (+152%) from 2019

Liabilities

Up

$5,618

Up $5,618 from 2019

Revenue And Expenses
Liabilities / Revenue8th percentileNet Margin69th percentile

Revenue

Up

$9,088,402

Up $6,359,986 (+233%) from 2019

Expenses

Up

$7,763,298

Up $5,397,244 (+228%) from 2019

Net Income

Up

$1,325,104

Up $962,742 (+266%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth97th percentile

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

$15M$10M$5.0M$0Assets 2012: $10,971Liabilities 2012: $0Net Assets 2012: $10,9712012Assets 2013: $19,771Liabilities 2013: $0Net Assets 2013: $19,7712013Assets 2015: $32,027Liabilities 2015: $0Net Assets 2015: $32,0272015Assets 2016: $178,640Liabilities 2016: $0Net Assets 2016: $178,6402016Assets 2017: $304,033Liabilities 2017: $0Net Assets 2017: $304,0332017Assets 2018: $520,107Liabilities 2018: $0Net Assets 2018: $520,1072018Assets 2019: $871,318Liabilities 2019: $0Net Assets 2019: $871,3182019Assets 2020: $2,202,040Liabilities 2020: $5,618Net Assets 2020: $2,196,4222020Assets 2021: $4,725,014Liabilities 2021: $30,689Net Assets 2021: $4,694,3252021Assets 2022: $5,187,688Liabilities 2022: $259,574Net Assets 2022: $4,928,1142022Assets 2023: $8,984,016Liabilities 2023: $2,557,143Net Assets 2023: $6,426,8732023Assets 2024: $12,539,647Liabilities 2024: $2,727,012Net Assets 2024: $9,812,6352024

Highlighted filing

2020

Assets$2,202,040
Liabilities$5,618
Net Assets$2,196,422
Open 2020 Filing

Operations Trend

Revenue Growth97th percentile

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

$20M$15M$10M$5.0M$0-$5.0MExpenses 2012: $19,7812012Revenue 2013: $130,210Expenses 2013: $121,410Net Income 2013: $8,8002013Revenue 2015: $475,320Expenses 2015: $460,886Net Income 2015: $14,4342015Revenue 2016: $820,435Expenses 2016: $673,822Net Income 2016: $146,6132016Revenue 2017: $1,637,971Expenses 2017: $1,809,444Net Income 2017: -$171,4732017Revenue 2018: $2,072,856Expenses 2018: $1,856,783Net Income 2018: $216,0732018Revenue 2019: $2,728,416Expenses 2019: $2,366,054Net Income 2019: $362,3622019Revenue 2020: $9,088,402Expenses 2020: $7,763,298Net Income 2020: $1,325,1042020Revenue 2021: $14,360,260Expenses 2021: $11,862,357Net Income 2021: $2,497,9032021Revenue 2022: $13,904,104Expenses 2022: $13,670,315Net Income 2022: $233,7892022Revenue 2023: $14,438,901Expenses 2023: $12,940,142Net Income 2023: $1,498,7592023Revenue 2024: $15,071,425Expenses 2024: $11,685,663Net Income 2024: $3,385,7622024

Highlighted filing

2020

Revenue$9,088,402
Expenses$7,763,298
Net Income$1,325,104
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Mar 30, 2021
Return Version
2020v4.0
Gross Receipts
$9,088,402
Mission and Program Overview

Mission

Libertas Institute is a public policy and education organization focused on free markets and individual rights. We generate non-partisan analysis and commentary, conduct investigative research, and publish educational literature to inform the public about our ideas.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$871,318$1,782,898▲ $911,580
Investments in Publicly Traded Securities-$250,000-
Investments Other Securities-$150,000-
Land, Buildings, and Equipment, Net-$18,996-
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$871,318$2,202,040▲ $1,330,722
Other Assets Total-$146-
Liabilities
Accounts Payable and Accrued Expenses-$5,618-
Total Liabilities$0$5,618▲ $5,618
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$871,318$2,196,422▲ $1,325,104
Total Net Assets Fund Balance$871,318$2,196,422▲ $1,325,104
Total Liabilities and Net Assets / Fund Balance$871,318$2,202,040▲ $1,330,722

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$18,996$704$19,700
Compensation and Service Providers
Top Officer Pay40th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Connor BoyackTrustee/Pres.FT$100,000$100,000

Board Members and Trustees

NameTitle
John PestanaBoard Chairman
Jeffrey HarmonTrustee
Jonathan JohnsonTrustee
Ty BrewerTrustee

Highest Paid Contractors

ContractorServicesLocationCompensation
Red House Motion ImagingGraphic Design1401 Sunset St, Richland, WA 99354$107,143
Revenue and Support

Revenue Composition

Contributions and Grants
$1,067,088
Program Service Revenue
$8,021,314
Investment Income
$0
Other Revenue
$0
All Other Contributions
$1,067,088
Change in Net Assets
$1,325,104
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$6,819,376
Salaries, Compensation, and Employee Benefits$933,082
Total Fundraising Expense$194,864
Professional Fundraising Fees$10,840
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Advertising$3,368,731$550$11,268$3,380,549
Other Salaries and Wages$609,042-$124,000$733,042
Fees for Services Other$325,682$841$9,397$335,920
Royalties$292,789--$292,789
Occupancy-$110,307-$110,307
Current Officers, Directors, Trustees, and Key Employees$75,000$10,000$15,000$100,000
Office Expenses$1,922$78,438$4,203$84,563
Information Technology$67,115$7,666-$74,781
Payroll Taxes$54,270$5,796$4,836$64,902
Pension Plan Contributions-$34,078-$34,078
Travel$12,583$13,651-$26,234
Other Expenses$18,241--$18,241
Conferences and Meetings$1,942-$15,320$17,262
Fees for Services Legal$17,187--$17,187
Fees for Services Professional Fundraising--$10,840$10,840
Insurance-$7,120-$7,120
Fees for Services Accounting$939$4,980-$5,919
Other Employee Benefits-$1,060-$1,060
All Other Expenses-$743-$743
Depreciation Depletion$704--$704
Total Functional Expenses$7,293,204$275,230$194,864$7,763,298
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$10,840
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
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“The 990 is reviewed by the governing board of trustees prior to its filing.”

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

“Available upon request if required to be open to public inspection.”

Filing and Contact Details

Filer

Filer Name
Libertas Institute
EIN
45-5254794
Phone
8019010310
Address
2183 W Main Street, Lehi, UT 84043

Signing Officer

Name
Connor Boyack
Title
President
Signed
2021-03-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Connor Boyack
Formed
2011
Legal Domicile
Ut
Voting Board Members
5
Independent Board Members
4
Employees
27
Volunteers
5

Preparer

Firm
Cook Martin Poulson PC
Address
632 N Main St, Logan, UT 84321
Preparer
Jared R Ripplinger CPA
Phone
8014674450
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ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Jared R Ripplinger CPA
ReturnHeader/ReturnTs02021-03-30T20:57:02-07:00

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,202,040
Liabilities
$5,618
Net assets
$2,196,422
Revenue
$9,088,402
Expenses
$7,763,298
Net income
$1,325,104
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$12.5$2.73$9.81$15.1$11.7$3.39
2023Detailed filing. Detailed filing data is available for this year.$8.98$2.56$6.43$14.4$12.9$1.50
2022Detailed filing. Detailed filing data is available for this year.$5.19$0.26$4.93$13.9$13.7$0.23
2021Detailed filing. Detailed filing data is available for this year.$4.73$0.03$4.69$14.4$11.9$2.50
2020Detailed filing. Detailed filing data is available for this year.$2.20$0.01$2.20$9.09$7.76$1.33
2019Summary only. Only limited summary data is available for this year.$0.87$0.00$0.87$2.73$2.37$0.36
2018Summary only. Only limited summary data is available for this year.$0.52$0.00$0.52$2.07$1.86$0.22
2017Summary only. Only limited summary data is available for this year.$0.30$0.00$0.30$1.64$1.81$0.17
2016Summary only. Only limited summary data is available for this year.$0.18$0.00$0.18$0.82$0.67$0.15
2015Summary only. Only limited summary data is available for this year.$0.03$0.00$0.03$0.48$0.46$0.01
2013Detailed filing. Detailed filing data is available for this year.$0.02$0.00$0.02$0.13$0.12$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.01$0.00$0.01$0.02