Civic Intelligence

Ideaworks Inc

EIN 46-0579356 • 501(c)3 • Portland, OR

Profile

The purposes of the Corporation are exclusively those allowed for organizations defined under 501(c)(3) of the Internal Revenue Code. Within these limits, the purposes of the Corporation include the following: a.Facilitates resources and education for aspiring artists, crafters and makers in all aspects of their workb.Fosters innovation and collaboration between masters and students in order to produce new worksc.Endeavors to preserve cultural heritage while fostering growth and innovation

1002 SE 8th AvePortland, OR 97214

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

83rd percentile

0.22x

Higher debt load relative to assets than 83% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

82nd percentile

0.08x

Higher debt load relative to revenue than 82% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

67th percentile

13%

Higher net margin than 67% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

81st percentile

$0

Higher top officer pay than 81% of similar nonprofits.

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

501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

83rd percentile

38%

Faster asset growth than 83% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

46th percentile

-5.5%

Faster revenue growth than 46% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Assets

Up

$40,225

Up $11,041 (+38%) from 2022

Liabilities

Down

$8,866

Down $2,049 (-19%) from 2022

Net Assets

Up

$31,359

Up $13,090 (+72%) from 2022

Revenue

Down

$104,705

Down $6,138 (-5.5%) from 2022

Expenses

Down

$91,615

Down $2,957 (-3.1%) from 2022

Net Income

Down

$13,090

Down $3,181 (-20%) from 2022

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$60K$40K$20K$0Assets 2015: $4,948Liabilities 2015: $0Net Assets 2015: $4,9482015Assets 2016: $19,245Liabilities 2016: $0Net Assets 2016: $19,2452016Assets 2017: $819Liabilities 2017: $0Net Assets 2017: $8192017Assets 2018: $818Liabilities 2018: $02018Assets 2021: $2,620Liabilities 2021: $0Net Assets 2021: $2,6202021Assets 2022: $29,184Liabilities 2022: $10,915Net Assets 2022: $18,2692022Assets 2023: $40,225Liabilities 2023: $8,866Net Assets 2023: $31,3592023

Highlighted filing

2023

Assets$40,225
Liabilities$8,866
Net Assets$31,359

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$200K$150K$100K$50K$0-$50KRevenue 2015: $147,990Expenses 2015: $143,042Net Income 2015: $4,9482015Revenue 2016: $168,401Expenses 2016: $154,104Net Income 2016: $14,2972016Revenue 2017: $86,092Expenses 2017: $104,518Net Income 2017: -$18,4262017Revenue 2018: $4,300Expenses 2018: $4,301Net Income 2018: -$12018Revenue 2021: $152,700Expenses 2021: $151,380Net Income 2021: $1,3202021Revenue 2022: $110,843Expenses 2022: $94,572Net Income 2022: $16,2712022Revenue 2023: $104,705Expenses 2023: $91,615Net Income 2023: $13,0902023

Highlighted filing

2023

Revenue$104,705
Expenses$91,615
Net Income$13,090

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 14, 2024
Return Version
2023v5.1
Gross Receipts
$104,705
Mission and Program Overview

Mission

The purposes of the Corporation are exclusively those allowed for organizations defined under 501(c)(3) of the Internal Revenue Code. Within these limits, the purposes of the Corporation include the following: a.Facilitates resources and education for aspiring artists, crafters and makers in all aspects of their workb.Fosters innovation and collaboration between masters and students in order to produce new worksc.Endeavors to preserve cultural heritage while fostering growth and innovation

Program Services

DescriptionGrantsExpenses
Rented a space to house aspiring artists, crafters and makers.Began having artist members--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Nickolas HarbarPresident-$0--
Mary Ann WillisSecretary-$0--
Cristal FrenchTreasurer-$0--
Filing and Contact Details

Filer

Filer Name
IdeaWorks Inc
EIN
46-0579356
Phone
5039951337
Address
1002 SE 8th Ave, Portland, OR 97214

Signing Officer

Name
Nickolas Harbar
Title
President
Signed
2024-11-14
Discuss with paid preparer
Yes

Preparer

Firm
Sohler Law
Address
3 Centerpointe Drive Suite 190, Lake Oswego, OR 97035
Preparer
Richard Sohler
Phone
5036627880
Supplemental Narrative

Additional Explanations

Other Expenses.1001

Advertising and Promotion $304

Other Expenses.1002

Office Expenses $489

Other Expenses.1009

Depreciation $448

Other Expenses.1012

Insurance $4169

Other Expenses.1

Outside Services $15328

Other Expenses.2

Other $2157

Other Expenses.3

Licenses $1705

Other Expenses.4

Repairs & Maintenance $1480

Other Expenses.5

Bank Charges and Fees $1219

Other Expenses.6

Website Expense $985

Other Expenses.7

Facility Supplies $166

Other Expenses.8

Meals & Entertainment $68

Other Assets.1011

Prepaid Expenses and Deferred Charges - Beginning $4332 Prepaid Expenses and Deferred Charges - Ending $6182

Total Liabilities.1001

Accounts Payable and Accrued Expenses - Beginning $8432 Accounts Payable and Accrued Expenses - Ending $8866

Total Liabilities.1

Damage Deposits - Beginning $2483 Damage Deposits - Ending $0

Changes to Organizing or Governing Documents

Removed: Chair when so authorized by the Board, shall sign all contracts, grant awards, and legal documents for and in the name of the corporation.Added: The President may delegate some or all of these tasks but remains responsible for their proper completion.Removed:The Secretary shall attend all meetings; In the absence of the Chair the dutiesshall be performed by the SecretaryAdded: The Secretary will Perform or oversee the performance of the following duties[and all duties] incident to the officeand [that] may be assigned by the President or the BoardSee that all notices are duly given in accordance with the provisions of these Bylaws or as required by law. Keep [each Directors] contact informationAdded: The Treasurer will Perform or oversee the performance of the following dutiesEnsure that [financial statements and reports] are presented to the Boardat least once each quarter.Ensure that all required state and federal reports are prepared and filed in a timely fashion. Added Executive DirectorAdded: Upon the dissolution of the Corporation, the Board shall establish a plan of dissolution and shall distribute its assets according to its Articles of Incorporation.Advance notice requirement changed from 30 to 7 daysVote requirement changed from unanimous to ? (or in the case of 5 Directors, ?) of all Directors then in officeGeneral Board of Directors voting requirement changed from unanimous to majority of attendingElection of Directors by Board changed from unanimous to majority of the attending DirectorsAdded: Officers may be removed . . . by a vote of the majority of the attending Directors, not including the Officer to be removedAdded to Board of Directors powers: Employ and supervise the Executive Director, prescribe their duties and delegate such powers to them as are consistent with BylawsOfficers to be elected by changed from unanimous to majority vote of attending DirectorsAdded: Majority vote of all Directors required to establish Executive Committee Changed Executive Committee to consist of: from Chair, Secretary, Treasurer and other members as appropriate to solely of current Directors, numbering at least three but not all DirectorsRemoved Nominating Committee for Directors Board may authorize certain powers, set certain limits and requirements for Executive CommitteeBoard to appoint or delegate appointment of Standing Committee members, including Committee President designationProcedures for Board establishment and oversight of, and powers over, committees detailed in Committees sectionAdded: Compensation of Officers and Directors. No Officer or Director will receive any compensation for fulfilling the responsibilities of a Director of the Board or of an Officer as defined in these Bylaws. However, the Corporation may pay compensation to Officers and Directors for other services performed as employees or independent contractors as long as the required rules for conflicts of interest are followed. Directors and their relatives who receive regular compensation from the Corporation must always constitute less than a majority of the Board. Officers and Directors may be given reimbursement for actual expenses incurred in the course of fulfilling their responsibilities, subject to Board approval.Removed Fix compensation from Board powersRemoved Conflict of Interest and Whistleblower policies from Bylaws and replaced with dedicated policies in the Policy recordsAdded Conflict of Interest section referring to that policy and specifying procedure for handling COIs, including approval by majority of attending Directors not including the interested party or partiesAdded dedicated document retention and destruction policy to the Policy recordsAdded: Annual Financial Assessment The Board of Directors shall require the performance of an annual audit, financial review, financial compilation, or financial assessment, which must involve the services of a trusted person with bookkeeping skills and knowledge, who does not do the b

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt15Removed: Chair when so authorized by the Board, shall sign all contracts, grant awards, and legal documents for and in the name of the corporation.Added: The President may delegate some or all of these tasks but remains responsible for their proper completion.Removed:The Secretary shall attend all meetings; In the absence of the Chair the dutiesshall be performed by the SecretaryAdded: The Secretary will Perform or oversee the performance of the following duties[and all duties] incident to the officeand [that] may be assigned by the President or the BoardSee that all notices are duly given in accordance with the provisions of these Bylaws or as required by law. Keep [each Directors] contact informationAdded: The Treasurer will Perform or oversee the performance of the following dutiesEnsure that [financial statements and reports] are presented to the Boardat least once each quarter.Ensure that all required state and federal reports are prepared and filed in a timely fashion. Added Executive DirectorAdded: Upon the dissolution of the Corporation, the Board shall establish a plan of dissolution and shall distribute its assets according to its Articles of Incorporation.Advance notice requirement changed from 30 to 7 daysVote requirement changed from unanimous to ? (or in the case of 5 Directors, ?) of all Directors then in officeGeneral Board of Directors voting requirement changed from unanimous to majority of attendingElection of Directors by Board changed from unanimous to majority of the attending DirectorsAdded: Officers may be removed . . . by a vote of the majority of the attending Directors, not including the Officer to be removedAdded to Board of Directors powers: Employ and supervise the Executive Director, prescribe their duties and delegate such powers to them as are consistent with BylawsOfficers to be elected by changed from unanimous to majority vote of attending DirectorsAdded: Majority vote of all Directors required to establish Executive Committee Changed Executive Committee to consist of: from Chair, Secretary, Treasurer and other members as appropriate to solely of current Directors, numbering at least three but not all DirectorsRemoved Nominating Committee for Directors Board may authorize certain powers, set certain limits and requirements for Executive CommitteeBoard to appoint or delegate appointment of Standing Committee members, including Committee President designationProcedures for Board establishment and oversight of, and powers over, committees detailed in Committees sectionAdded: Compensation of Officers and Directors. No Officer or Director will receive any compensation for fulfilling the responsibilities of a Director of the Board or of an Officer as defined in these Bylaws. However, the Corporation may pay compensation to Officers and Directors for other services performed as employees or independent contractors as long as the required rules for conflicts of interest are followed. Directors and their relatives who receive regular compensation from the Corporation must always constitute less than a majority of the Board. Officers and Directors may be given reimbursement for actual expenses incurred in the course of fulfilling their responsibilities, subject to Board approval.Removed Fix compensation from Board powersRemoved Conflict of Interest and Whistleblower policies from Bylaws and replaced with dedicated policies in the Policy recordsAdded Conflict of Interest section referring to that policy and specifying procedure for handling COIs, including approval by majority of attending Directors not including the interested party or partiesAdded dedicated document retention and destruction policy to the Policy recordsAdded: Annual Financial Assessment The Board of Directors shall require the performance of an annual audit, financial review, financial compilation, or financial assessment, which must involve the services of a trusted person with bookkeeping skills and knowledge, who does not do the b
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ReturnHeader/BuildTS02024-10-15 13:58:12Z
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