Civic Intelligence

Morrisville Innovation Foundation

EIN 46-0829323 • 501(c)3 • Morrisville, NC

Profile

Economic development in Morrisville

260 Town Hall DriveMorrisville, NC 27560

www.morrisvilleinnovation.com

Siviq Scores

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

Liabilities / Assets

90th percentile

0.64x

Higher debt load relative to assets than 90% of similar nonprofits.

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

Liabilities / Revenue

91st percentile

0.46x

Higher debt load relative to revenue than 91% of similar nonprofits.

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

Net Margin

46th percentile

0.0%

Higher net margin than 46% of similar nonprofits.

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

Top Officer Pay

84th percentile

$0

Higher top officer pay than 84% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2022

Asset Growth

54th percentile

0.0%

Faster asset growth than 54% of similar nonprofits.

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

Revenue Growth

54th percentile

1.5%

Faster revenue growth than 54% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2021 to 2023

Balance Sheet
Liabilities / Assets90th percentile

Assets

Flat

$36,194

Flat from 2022

Liabilities

Flat

$23,246

Flat from 2022

Net Assets

Flat

$12,948

Flat from 2022

Operations
Liabilities / Revenue91st percentileNet Margin46th percentile

Revenue

$51,063

No earlier filing loaded for comparison.

Expenses

Up

$51,063

Up $50,999 (+79686%) from 2022

Net Income

$0

No earlier filing loaded for comparison.

Trend Graphs

Balance Sheet Trend

Asset Growth54th percentile

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

$40K$30K$20K$10K$0Assets 2013: $12,598Liabilities 2013: $02013Assets 2014: $18,041Liabilities 2014: $8,500Net Assets 2014: $9,5412014Assets 2015: $9,521Liabilities 2015: $0Net Assets 2015: $9,5212015Assets 2016: $19,823Liabilities 2016: $1,250Net Assets 2016: $18,5732016Assets 2017: $14,985Liabilities 2017: $1,000Net Assets 2017: $13,9852017Assets 2018: $37,378Liabilities 2018: $22,603Net Assets 2018: $14,7752018Assets 2019: $39,227Liabilities 2019: $22,734Net Assets 2019: $16,4932019Assets 2020: $32,539Liabilities 2020: $23,033Net Assets 2020: $9,5062020Assets 2021: $36,258Liabilities 2021: $23,246Net Assets 2021: $13,0122021Assets 2022: $36,194Liabilities 2022: $23,246Net Assets 2022: $12,9482022Assets 2023: $36,194Liabilities 2023: $23,246Net Assets 2023: $12,9482023

Highlighted filing

2023

Assets$36,194
Liabilities$23,246
Net Assets$12,948
Open 2023 Filing

Operations Trend

Revenue Growth54th percentile

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

$150K$100K$50K$0-$50KRevenue 2013: $84,608Expenses 2013: $72,010Net Income 2013: $12,5982013Revenue 2014: $87,922Expenses 2014: $90,979Net Income 2014: -$3,0572014Revenue 2015: $80,703Expenses 2015: $80,723Net Income 2015: -$202015Revenue 2016: $104,138Expenses 2016: $95,086Net Income 2016: $9,0522016Revenue 2017: $93,761Expenses 2017: $98,349Net Income 2017: -$4,5882017Revenue 2018: $89,249Expenses 2018: $88,459Net Income 2018: $7902018Revenue 2019: $102,024Expenses 2019: $100,306Net Income 2019: $1,7182019Revenue 2020: $44,060Expenses 2020: $51,047Net Income 2020: -$6,9872020Revenue 2021: $49,574Expenses 2021: $46,068Net Income 2021: $3,5062021Expenses 2022: $642022Revenue 2023: $51,063Expenses 2023: $51,063Net Income 2023: $02023

Highlighted filing

2023

Revenue$51,063
Expenses$51,063
Net Income$0
Open 2023 Filing

Filings

Most recent year

2023 • Form 990EZDetailed filing. Detailed filing data is available for this year.

Open filing
Assets
$36,194
Liabilities
$23,246
Net assets
$12,948
Revenue
$51,063
Expenses
$51,063
Net income
$0
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$0.36$0.23$0.13$0.51$0.51$0.00
2022Detailed filing. Detailed filing data is available for this year.$0.36$0.23$0.13$0.00
2021Detailed filing. Detailed filing data is available for this year.$0.36$0.23$0.13$0.50$0.46$0.04
2020Detailed filing. Detailed filing data is available for this year.$0.33$0.23$0.10$0.44$0.51$0.07
2019Detailed filing. Detailed filing data is available for this year.$0.39$0.23$0.16$1.02$1.00$0.02
2018Detailed filing. Detailed filing data is available for this year.$0.37$0.23$0.15$0.89$0.88$0.01
2017Detailed filing. Detailed filing data is available for this year.$0.15$0.01$0.14$0.94$0.98$0.05
2016Detailed filing. Detailed filing data is available for this year.$0.20$0.01$0.19$1.04$0.95$0.09
2015Detailed filing. Detailed filing data is available for this year.$0.10$0.00$0.10$0.81$0.81$0.00
2014Detailed filing. Detailed filing data is available for this year.$0.18$0.09$0.10$0.88$0.91$0.03
2013Summary only. Only limited summary data is available for this year.$0.13$0.00$0.85$0.72$0.13
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 8, 2024
Return Version
2023v5.1
Gross Receipts
$51,063
Mission and Program Overview

Mission

Economic development in Morrisville

Program Services

DescriptionGrantsExpenses
Creating a public and private partnership for economic and community development in Morrisville. Identify and foster entrepreneurship and community leaders for economic prosperity$51,063$51,063
Compensation and Service Providers
Top Officer Pay84th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Rose CorneliusPresidentPT$0--
Veronica BentChair-$0--
Kevin LederTreasurer-$0--
Filing and Contact Details

Filer

Filer Name
Morrisville Innovation Foundation
EIN
46-0829323
Address
260 Town Hall Drive, Morrisville, NC 27560

Signing Officer

Name
Rose Cornelius
Title
President
Phone
9194637159
Signed
2024-11-08
Discuss with paid preparer
No

Preparer

Firm
PT CPAs PLLC
Address
7610 Falls of Neuse Rd, Raleigh, NC 27615
Preparer
Joseph Turchetti
Phone
9198476800
Supplemental Narrative

Additional Explanations

Description of other expenses Part I line 16

“Description AmountEconomic development 51,063”

Description of other assets Part II line 24

“Category Beginning of Year End of YearEquipment 1,475 1,475Related Party 21,897 21,897”

Description of total liabilities Part II line 26

“Category Beginning of Year End of YearDeferred Revenue 825 825Contract Liabilities 22,421 22,421”

Raw XML Appendix127 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.

Path#Value
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IRS990EZ/BooksInCareOfDetail/USAddress/CityNm0Morrisville
IRS990EZ/BooksInCareOfDetail/USAddress/StateAbbreviationCd0NC
IRS990EZ/BooksInCareOfDetail/USAddress/ZIPCd027560
IRS990EZ/CashSavingsAndInvestmentsGrp/BOYAmt012822
IRS990EZ/CashSavingsAndInvestmentsGrp/EOYAmt012822
IRS990EZ/ChgMadeToOrgnzngDocNotRptInd0false
IRS990EZ/DonorAdvisedFndsInd0false
IRS990EZ/EngagedInExcessBenefitTransInd0false
IRS990EZ/FiledScheduleAInd0true
IRS990EZ/ForeignFinancialAccountInd0false
IRS990EZ/ForeignOfficeInd0false
IRS990EZ/Form1120PolFiledInd0false
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IRS990EZ/Form990TotalAssetsGrp/EOYAmt036194
IRS990EZ/GrossReceiptsAmt051063
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IRS990EZ/MethodOfAccountingAccrualInd0X
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IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt010.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt11.00
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IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt0President
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt1Chair
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IRS990EZ/OperateHospitalInd0false
IRS990EZ/Organization501c3Ind0X
IRS990EZ/OrganizationDissolvedEtcInd0false
IRS990EZ/OrganizationHadUBIInd0false
IRS990EZ/OtherAssetsTotalDetail/BOYAmt023372
IRS990EZ/OtherAssetsTotalDetail/EOYAmt023372
IRS990EZ/OtherExpensesTotalAmt051063
IRS990EZ/PartVIHghstPdCntrctProfSrvcTxt0NONE
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IRS990EZ/PoliticalCampaignActyInd0false
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IRS990EZ/ProgramServiceRevenueAmt051063
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IRS990EZ/ProgramSrvcAccomplishmentGrp/GrantsAndAllocationsAmt051063
IRS990EZ/ProgramSrvcAccomplishmentGrp/ProgramServiceExpensesAmt051063
IRS990EZ/ProhibitedTaxShelterTransInd0false
IRS990EZ/RelatedOrganizationCtrlEntInd0false
IRS990EZ/ScheduleBNotRequiredInd0X
IRS990EZ/SchoolOperatingInd0false
IRS990EZ/SubjectToProxyTaxInd0false
IRS990EZ/SumOfTotalLiabilitiesGrp/BOYAmt023246
IRS990EZ/SumOfTotalLiabilitiesGrp/EOYAmt023246
IRS990EZ/TanningServicesProvidedInd0false
IRS990EZ/TotalExpensesAmt051063
IRS990EZ/TotalProgramServiceExpensesAmt051063
IRS990EZ/TotalRevenueAmt051063
IRS990EZ/TransactionWithControlEntInd0false
IRS990EZ/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990EZ/TypeOfOrganizationCorpInd0X
IRS990EZ/WebsiteAddressTxt0www.morrisvilleinnovation.com
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt049574
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt044060
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0111013
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.97500
IRS990ScheduleA/PublicSupportPY170Pct00.86880
IRS990ScheduleA/PublicSupportTotal170Amt0108233
IRS990ScheduleA/SubstantialContributorsTotAmt02780
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt049574
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt044060
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt017379
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0111013
IRS990ScheduleA/TotalSupportAmt0111013
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Description AmountEconomic development 51,063
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Category Beginning of Year End of YearDeferred Revenue 825 825Contract Liabilities 22,421 22,421
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Description of other expenses Part I line 16
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Description of other assets Part II line 24
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Description of total liabilities Part II line 26
ReturnHeader/BuildTS02024-10-15 13:58:12Z
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ReturnHeader/Filer/EIN0460829323
ReturnHeader/Filer/USAddress/AddressLine1Txt0260 Town Hall Drive
ReturnHeader/Filer/USAddress/CityNm0Morrisville
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd027615
ReturnHeader/PreparerPersonGrp/PhoneNum09198476800
ReturnHeader/PreparerPersonGrp/PreparationDt02024-11-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Joseph Turchetti
ReturnHeader/ReturnTs02024-11-09T15:40:06-05:00
ReturnHeader/ReturnTypeCd0990EZ
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

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