Civic Intelligence

Purple & Gray Foundation Inc.

990 • Fiscal year 2018 • EIN 45-5339253

Jan 01, 2018 to Dec 31, 2018 • Filed on Jun 04, 2019

Organization ProfileWWW.PURPLEANDGRAY.ORG
520 Washington StBurlington, IA 52601

(319) 752-8899

Siviq Scores

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

Liabilities / Assets

100th percentile

86.53x

Higher debt load relative to assets than 100% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Liabilities / Revenue

96th percentile

1.16x

Higher debt load relative to revenue than 96% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Net Margin

4th percentile

-152%

Higher net margin than 4% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

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

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Asset Growth

2nd percentile

-96%

Faster asset growth than 2% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Revenue Growth

80th percentile

33%

Faster revenue growth than 80% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets100th percentile

Assets

Down

$4,485

Down $116,997 (-96%) from 2017

Net Assets

Down

-$383,583

Down $505,065 (-416%) from 2017

Liabilities

Up

$388,068

Up $388,068 from 2017

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin4th percentile

Revenue

Up

$333,335

Up $81,893 (+33%) from 2017

Expenses

Up

$838,400

Up $796,193 (+1886%) from 2017

Net Income

Down

-$505,065

Down $714,300 (-341%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth2nd percentile

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

$500K$0-$500KAssets 2014: $362,960Liabilities 2014: $0Net Assets 2014: $362,9602014Assets 2015: $79,377Liabilities 2015: $417,125Net Assets 2015: -$337,7482015Assets 2016: $47,490Liabilities 2016: $135,243Net Assets 2016: -$87,7532016Assets 2017: $121,482Liabilities 2017: $0Net Assets 2017: $121,4822017Assets 2018: $4,485Liabilities 2018: $388,068Net Assets 2018: -$383,5832018Assets 2019: $2,376Liabilities 2019: $168,673Net Assets 2019: -$166,2972019Assets 2020: $19,510Liabilities 2020: $86,429Net Assets 2020: -$66,9192020Assets 2021: $2,577Liabilities 2021: $6,562Net Assets 2021: -$3,9852021Assets 2022: $51,734Liabilities 2022: $0Net Assets 2022: $51,7342022Assets 2023: $98,883Net Assets 2023: $98,8832023Assets 2024: $92,821Net Assets 2024: $92,8212024

Highlighted filing

2018

Assets$4,485
Liabilities$388,068
Net Assets-$383,583
Open 2018 Filing

Operations Trend

Revenue Growth80th percentile

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

$2.0M$1.0M$0-$1.0MRevenue 2014: $1,601,524Expenses 2014: $1,250,564Net Income 2014: $350,9602014Revenue 2015: $1,011,312Expenses 2015: $1,712,020Net Income 2015: -$700,7082015Revenue 2016: $293,699Expenses 2016: $43,704Net Income 2016: $249,9952016Revenue 2017: $251,442Expenses 2017: $42,207Net Income 2017: $209,2352017Revenue 2018: $333,335Expenses 2018: $838,400Net Income 2018: -$505,0652018Revenue 2019: $425,000Expenses 2019: $207,714Net Income 2019: $217,2862019Revenue 2020: $119,515Expenses 2020: $20,137Net Income 2020: $99,3782020Revenue 2021: $87,942Expenses 2021: $25,008Net Income 2021: $62,9342021Revenue 2022: $80,971Expenses 2022: $25,252Net Income 2022: $55,7192022Revenue 2023: $66,274Expenses 2023: $19,125Net Income 2023: $47,1492023Revenue 2024: $11,823Expenses 2024: $17,885Net Income 2024: -$6,0622024

Highlighted filing

2018

Revenue$333,335
Expenses$838,400
Net Income-$505,065
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Jun 4, 2019
Return Version
2018v3.1
Gross Receipts
$333,335
Mission and Program Overview

Mission

The purple and gray foundation mission is to assist burlington community school district in developing athletic programs and facilities at the school district.

The purple and gray foundation mission is to assist the burlington community school district in developing athletic programs and facilities at the school district.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$120,656$4,485▼ $116,171
Savings and Temporary Cash Investments$826--
Total Assets$121,482$4,485▼ $116,997
Liabilities
Mortgage Notes Payable Secured by Investment Property-$388,068-
Total Liabilities$0$388,068▲ $388,068
Net Assets / Fund Balance
Unrestricted Net Assets$121,482$-383,583▼ $505,065
Total Net Assets Fund Balance$121,482$-383,583▼ $505,065
Total Liabilities and Net Assets / Fund Balance$121,482$4,485▼ $116,997
Compensation and Service Providers
Top Officer Pay76th percentile

Board Members and Trustees

NameTitle
Jerry SherwoodPresident
Jon HartSecretary
Jerry CourtneyTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Frank Millard & CoConstruction107 VALLEY ST, Burlington, IA 52601$805,997
Revenue and Support

Revenue Composition

Contributions and Grants
$333,335
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$333,335
Change in Net Assets
$-505,065
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$820,773
Other Expenses$17,627
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$820,773--$820,773
Fees for Services Accounting-$10,200-$10,200
Interest$3,121--$3,121
Office Expenses-$2,118-$2,118
Insurance-$1,094-$1,094
Fees for Services Other$630--$630
Fees for Services Legal$100--$100
Other Expenses-$12-$12
Total Functional Expenses$824,624$13,776$0$838,400
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Burlington Community SchoolBurlington, IAGovFinancial Assistance$14,776
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
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, Page 6, Part VI, Line 11B

“Upon finalization of the returns by the accounting firm; a draft copy is provided to the treasurer for review and discussion with board members. After they have reviewed the return they will contact the accountant and authorize / approve the return for final assembly and release or signature and filing.”

Form 990, Page 6, Part VI, Line 12C

“Board members on an annual basis will review the conflict policy and sign off acknowledging they have read this policy and are in compliance. The board of directors executive committee shall regularly and consistently monitor and enforce compliance with this policy by reviewing annual statements and taking such actions as are necessary for effective oversight.”

Form 990, Page 6, Part VI, Line 15A

“Any compensation of employees will be reviewed and evaluated by the board of directors with the individual being evaluated required to recuse themselves from the process.”

Form 990, Page 6, Part VI, Line 15B

“Any compensation of employees will be reviewed and evaluated by the board of directors with the individual being evaluated required to recuse themselves from the process.”

Form 990, Page 6, Part VI, Line 19

“The organization's governing documents, policies and financial statements are available upon request. Such request can be directed to the executive committee or by written request mailed to the organziations general address.”

Filing and Contact Details

Filer

Filer Name
Purple & Gray Foundation Inc
EIN
45-5339253
Phone
3197528899
Address
520 WASHINGTON ST, BURLINGTON, IA 52601

Signing Officer

Name
Jerry Courtney
Title
Treasurer
Phone
3197528899
Signed
2019-06-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jerry Sherwood
Formed
2012
Legal Domicile
Ia
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
20

Preparer

Firm
Tdt Cpas and Advisors Pc
Address
323 JEFFERSON STREET, BURLINGTON, IA 52601
Preparer
Brian K Isom CPA
Phone
3197539877
Raw XML Appendix313 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0EXECUTIVE BOARD OVERSEES ALL DONATIONS TO ENSURE THEY ARE BEING USED FOR THE INTENDED PURPOSE.
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt1PART II - COLUMN G - ROW 1: PURPLE & GRAY FOUNDATION, INC. PAID DIRECTLY TO THE THIRD PARTY ALL OF THE CONSTRUCTION EXPENSES (RELATED TO CONSTRUCTION OF NEW LOCKER ROOMS) ON BEHALF OF THE BURLINGTON COMMUNITY SCHOOL.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0UPON FINALIZATION OF THE RETURNS BY THE ACCOUNTING FIRM; A DRAFT COPY IS PROVIDED TO THE TREASURER FOR REVIEW AND DISCUSSION WITH BOARD MEMBERS. AFTER THEY HAVE REVIEWED THE RETURN THEY WILL CONTACT THE ACCOUNTANT AND AUTHORIZE / APPROVE THE RETURN FOR FINAL ASSEMBLY AND RELEASE OR SIGNATURE AND FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD MEMBERS ON AN ANNUAL BASIS WILL REVIEW THE CONFLICT POLICY AND SIGN OFF ACKNOWLEDGING THEY HAVE READ THIS POLICY AND ARE IN COMPLIANCE. THE BOARD OF DIRECTORS EXECUTIVE COMMITTEE SHALL REGULARLY AND CONSISTENTLY MONITOR AND ENFORCE COMPLIANCE WITH THIS POLICY BY REVIEWING ANNUAL STATEMENTS AND TAKING SUCH ACTIONS AS ARE NECESSARY FOR EFFECTIVE OVERSIGHT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ANY COMPENSATION OF EMPLOYEES WILL BE REVIEWED AND EVALUATED BY THE BOARD OF DIRECTORS WITH THE INDIVIDUAL BEING EVALUATED REQUIRED TO RECUSE THEMSELVES FROM THE PROCESS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ANY COMPENSATION OF EMPLOYEES WILL BE REVIEWED AND EVALUATED BY THE BOARD OF DIRECTORS WITH THE INDIVIDUAL BEING EVALUATED REQUIRED TO RECUSE THEMSELVES FROM THE PROCESS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION'S GOVERNING DOCUMENTS, POLICIES AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. SUCH REQUEST CAN BE DIRECTED TO THE EXECUTIVE COMMITTEE OR BY WRITTEN REQUEST MAILED TO THE ORGANZIATIONS GENERAL ADDRESS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0121482
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt04485
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0121482
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-383583
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0520 WASHINGTON ST
IRS990/USAddress/CityNm0BURLINGTON
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd052601
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0WWW.PURPLEANDGRAY.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JERRY COURTNEY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum03197528899
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-06-04
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PURPLE & GRAY FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0PURP
ReturnHeader/Filer/EIN0455339253
ReturnHeader/Filer/PhoneNum03197528899
ReturnHeader/Filer/USAddress/AddressLine1Txt0520 WASHINGTON ST
ReturnHeader/Filer/USAddress/CityNm0BURLINGTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd052601
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0C4E61175DBA6A5AC5DC80957DAB672890487ADC7
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0389016A9205CDDBE911302A3A824BEE521AEA736
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0167.68.16.49
ReturnHeader/FilingSecurityInformation/IPDt02019-06-19
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm010:59:26
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0421029744
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0TDT CPAS AND ADVISORS PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0323 JEFFERSON STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BURLINGTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd052601
ReturnHeader/PreparerPersonGrp/PhoneNum03197539877
ReturnHeader/PreparerPersonGrp/PreparationDt02019-06-03
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BRIAN K ISOM CPA
ReturnHeader/ReturnTs02019-06-19T10:59:26-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,485
Liabilities
$388,068
Net assets
-$383,583
Revenue
$333,335
Expenses
$838,400
Net income
-$505,065
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.09$0.09$0.01$0.02$0.01
2023Detailed filing. Detailed filing data is available for this year.$0.10$0.10$0.07$0.02$0.05
2022Detailed filing. Detailed filing data is available for this year.$0.05$0.00$0.05$0.08$0.03$0.06
2021Detailed filing. Detailed filing data is available for this year.$0.00$0.01$0.00$0.09$0.03$0.06
2020Detailed filing. Detailed filing data is available for this year.$0.02$0.09$0.07$0.12$0.02$0.10
2019Detailed filing. Detailed filing data is available for this year.$0.00$0.17$0.17$0.43$0.21$0.22
2018Detailed filing. Detailed filing data is available for this year.$0.00$0.39$0.38$0.33$0.84$0.51
2017Detailed filing. Detailed filing data is available for this year.$0.12$0.00$0.12$0.25$0.04$0.21
2016Detailed filing. Detailed filing data is available for this year.$0.05$0.14$0.09$0.29$0.04$0.25
2015Detailed filing. Detailed filing data is available for this year.$0.08$0.42$0.34$1.01$1.71$0.70
2014Detailed filing. Detailed filing data is available for this year.$0.36$0.00$0.36$1.60$1.25$0.35