Civic Intelligence

Addison Community Athletics Foundation Inc

990 • Fiscal year 2019 • EIN 46-1164975

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 11, 2020

CO Vcf 3 Court StreetMiddlebury, VT 05753

(802) 388-3355

Siviq Scores

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

Liabilities / Assets

24th percentile

0.01x

Higher debt load relative to assets than 24% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

28th percentile

0.02x

Higher debt load relative to revenue than 28% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

82nd percentile

26%

Higher net margin than 82% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

86th percentile

$169,876

Higher top officer pay than 86% of similar nonprofits.

Top officer pay equals 44.9% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

68th percentile

11%

Faster asset growth than 68% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

36th percentile

-1.2%

Faster revenue growth than 36% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Assets

Up

$1,499,144

Up $146,573 (+11%) from 2018

Net Assets

Up

$1,491,475

Up $153,003 (+11%) from 2018

Liabilities

Down

$7,669

Down $6,430 (-46%) from 2018

Revenue

Down

$378,332

Down $4,587 (-1.2%) from 2018

Expenses

Down

$278,951

Down $13,882 (-4.7%) from 2018

Net Income

Up

$99,381

Up $9,295 (+10%) from 2018

Historical Trend

Balance Sheet Trend

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

$2.0M$1.5M$1.0M$500K$0Assets 2015: $1,154,082Liabilities 2015: $5,152Net Assets 2015: $1,148,9302015Assets 2016: $1,207,321Liabilities 2016: $12,838Net Assets 2016: $1,194,4832016Assets 2018: $1,352,571Liabilities 2018: $14,099Net Assets 2018: $1,338,4722018Assets 2019: $1,499,144Liabilities 2019: $7,669Net Assets 2019: $1,491,4752019Assets 2020: $1,628,537Liabilities 2020: $7,030Net Assets 2020: $1,621,5072020Assets 2021: $1,740,379Liabilities 2021: $12,948Net Assets 2021: $1,727,4312021Assets 2022: $1,611,492Liabilities 2022: $11,049Net Assets 2022: $1,600,4432022Assets 2024: $1,831,842Liabilities 2024: $4,082Net Assets 2024: $1,827,7602024

Highlighted filing

2019

Assets$1,499,144
Liabilities$7,669
Net Assets$1,491,475

Operations Trend

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

$600K$400K$200K$0Revenue 2015: $216,952Expenses 2015: $171,779Net Income 2015: $45,1732015Revenue 2016: $227,435Expenses 2016: $195,390Net Income 2016: $32,0452016Revenue 2018: $382,919Expenses 2018: $292,833Net Income 2018: $90,0862018Revenue 2019: $378,332Expenses 2019: $278,951Net Income 2019: $99,3812019Revenue 2020: $345,141Expenses 2020: $273,907Net Income 2020: $71,2342020Revenue 2021: $433,481Expenses 2021: $380,314Net Income 2021: $53,1672021Revenue 2022: $465,438Expenses 2022: $432,368Net Income 2022: $33,0702022Revenue 2024: $533,648Expenses 2024: $513,903Net Income 2024: $19,7452024

Highlighted filing

2019

Revenue$378,332
Expenses$278,951
Net Income$99,381
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 11, 2020
Return Version
2019v5.1
Gross Receipts
$471,819
Mission and Program Overview

Mission

To promote athletics and healthful behaviors throughout the greater addison county region of vermont by supporting tennis and other health education programs for youth and adults.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$734,659$790,660▲ $56,001
Investments in Publicly Traded Securities$404,567$622,735▲ $218,168
Investments Other Securities$123,895$53,474▼ $70,421
Cash and Non-Interest-Bearing Accounts$81,178$27,945▼ $53,233
Prepaid Expenses and Deferred Charges-$4,330-
Accounts Receivable$300--
Pledges and Grants Receivable$25--
Total Assets$1,352,571$1,499,144▲ $146,573
Other Assets Total$7,947--
Liabilities
Accounts Payable and Accrued Expenses$14,099$7,669▼ $6,430
Total Liabilities$14,099$7,669▼ $6,430
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,338,472$1,491,475▲ $153,003
Total Net Assets Fund Balance$1,338,472$1,491,475▲ $153,003
Total Liabilities and Net Assets / Fund Balance$1,352,571$1,499,144▲ $146,573

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$575,653$85,059$660,712
Land$211,620-$211,620
Equipment$3,387$4,566$7,953

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$1,338,472$351,202▲ $80,752$150,328$1,491,475
2018$1,312,093$347,283▼ $28,071$155,536$1,338,472
2017$1,194,483$290,253▲ $53,301$116,456$1,312,093
2016$1,148,930$216,930▲ $24,013$94,582$1,194,483
2015$1,106,706$214,506▼ $503$82,345$1,148,930
Compensation and Service Providers

Board Members and Trustees

NameTitle
David W IgnatPresident
Eleanor P IgnatVice President
Brian McdonoughAssistant Treasurer
Debra DabrowskiSecretary
Thomas SmithTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$251,475
Program Service Revenue
$93,857
Investment Income
$27,130
Other Revenue
$5,870
All Other Contributions
$4,043
Change in Net Assets
$99,381
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$173,006
Salaries, Compensation, and Employee Benefits$105,945
Total Fundraising Expense$4,635
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$54,547$30,761$2,034$87,342
Occupancy$43,016$27,244$1,434$71,694
Fees for Services Management-$25,000-$25,000
Depreciation Depletion$13,036$8,256$435$21,727
Payroll Taxes$7,375$4,352$243$11,970
Insurance-$6,995-$6,995
Office Expenses$2,567$3,616$85$6,268
Conferences and Meetings$5,239$820-$6,059
Other Employee Benefits$3,820$1,364$273$5,457
Fees for Services Other-$3,367-$3,367
Advertising$500$2,837-$3,337
Fees for Service Investment Mgmnt Fees-$2,988-$2,988
Other Expenses$1,583$1,299$68$1,583
Pension Plan Contributions$826$290$60$1,176
Travel$712--$712
All Other Expenses-$447-$447
Information Technology$94$132$3$229
Total Functional Expenses$150,328$123,988$4,635$278,951
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
Audit committee
Yes
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
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 2

David ignat and eleanor ignat are husband and wife.

Form 990, Part VI, Section A, Line 3

The vermont community foundation performs customary management duties on behalf of the governing body.

Form 990, Part VI, Section B, Line 11B

Management will review the form 990 and related schedules and provide a copy of the tax return to all board members prior to filing.

Form 990, Part VI, Section B, Line 12C

The foundation surveys staff and board members annually for compliance with the conflict of interest policy. Additionally, staff and board members are asked to disclose any conflicts if and when they arise.

Form 990, Part VI, Section B, Line 15

The foundation did not employ an executive director or other management official during the year. However, the foundation did follow best practices for hiring staff and setting compensation which included the use of salary surveys and comparability data.

Form 990, Part VI, Section C, Line 19

The foundation has no formal policy surrounding the public availability of its governing documents, nor has it ever received a request for such documents. As the foundation is part of a consolidated set of financial statements, no stand alone financial statements exist. The consolidated audited financial statements are available at www.vermontcf.org.

Filing and Contact Details

Filer

Filer Name
Addison Community Athletics Foundation
EIN
46-1164975
Phone
8023883355
Address
CO VCF 3 COURT STREET, MIDDLEBURY, VT 05753

Signing Officer

Name
Debra Dabrowski
Title
Secretary
Phone
8023883355
Signed
2020-11-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
David W Ignat
Formed
2012
Legal Domicile
Vt
Voting Board Members
5
Independent Board Members
4
Employees
16
Volunteers
4

Preparer

Firm
BLUM SHAPIRO & COMPANY PC CPA'S
Address
29 S MAIN STREET PO BOX 272000, WEST HARTFORD, CT 06127-2000
Preparer
Lori Budnick
Phone
8605614000
Supplemental Narrative

Financial Statement Notes

PART V, LINE 4:

Endowment funds are designated and intended for use in the furtherance of the foundation's exempt purpose.

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IRS990/PYProgramServiceRevenueAmt0102800
IRS990/PYRevenuesLessExpensesAmt090086
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IRS990/PYTotalExpensesAmt0292833
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IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt099381
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RelatedOrganizationsAmt0247432
IRS990/RentalIncomeOrLossGrp/RealAmt05870
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt093857
IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd01
IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd01
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/OperateBenefitNonSuprtOrgInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd01
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE FOUNDATION PROVIDES USE OF ITS INDOOR TENNIS FACILITY AND ACCESS TO ITS ATHLETIC PROGRAMS TO THE COMMUNITY MEMBERS OF THE GREATER ADDISON COUNTY REGION OF VERMONT.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART IV, SECTION A, LINE 6
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IRS990ScheduleA/SupportedOrganizationsTotalCnt01
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt025000
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0VERMONT COMMUNITY FOUNDATION
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType1Ind0X
IRS990ScheduleA/SupportSumAmt025000
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/AgentTrusteeEtcInd00
IRS990ScheduleD/BoardDesignatedBalanceEOYPct01.00000
IRS990ScheduleD/BuildingsGrp/BookValueAmt0575653
IRS990ScheduleD/BuildingsGrp/DepreciationAmt085059
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0660712
IRS990ScheduleD/CYEndwmtFundGrp/AdministrativeExpensesAmt0128623
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt01338472
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IRS990ScheduleD/CYEndwmtFundGrp/OtherExpendituresAmt0150328
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IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt01312093
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt0347283
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IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-28071
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/OtherExpendituresAmt0155536
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IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt01194483
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt0290253
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt01312093
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt053301
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IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt01194483
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IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt024013
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/OtherExpendituresAmt094582
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/AdministrativeExpensesAmt089434
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IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt0214506
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt01148930
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-503
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/OtherExpendituresAmt082345
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd01
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt03387
IRS990ScheduleD/EquipmentGrp/DepreciationAmt04566
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt07953
IRS990ScheduleD/LandGrp/BookValueAmt0211620
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0211620
IRS990ScheduleD/RelatedOrgListSchRInd01
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ENDOWMENT FUNDS ARE DESIGNATED AND INTENDED FOR USE IN THE FURTHERANCE OF THE FOUNDATION'S EXEMPT PURPOSE.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART V, LINE 4:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0790660
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt04342
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt024537
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0DEBRA DABROWSKI
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0SECRETARY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0169876
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0DEBRA DABROWSKI IS THE VP FOR FINANCE AND CFO OF THE VERMONT COMMUNITY FOUNDATION, THE SUPPORTED ORGANIZATION OF THE ADDISON COMMUNITY ATHLETICS FOUNDAITON. THE VERMONT COMMUNITY FOUNDATION USES THE COUNCIL ON FOUNDATION'S ANNUAL SALARY SURVEY AS A GUIDELINE TO DETERMINE THE APPROPRIATENESS OF THE SALARY AND/OR ANY ADJUSTMENTS. THE FOUNDATION SEEKS TO HAVE SALARIES BE AT A REASONABLE RANGE AROUND THE MEDIAN SALARY PROVIDED BY THE COUNCIL ON FOUNDATION'S SURVEY FOR FOUNDATIONS OF COMPARABLE SIZE, AS ADJUSTED FOR THE REPORTING PERIOD LAG. ALL OTHER STAFF SALARIES ARE ESTABLISHED BY THE PRESIDENT AND VP FOR FINANCE/CFO USING THE SAME METHOD DESCRIBED ABOVE. JOBS ARE MATCHED TO THE COUNCIL ON FOUNDATION'S SURVEY POSITIONS BASED ON CONTENT AND RESPONSIBILITIES. PERFORMANCE REVIEWS ARE PERFORMED BY THE CEO ON AN ANNUAL BASIS FOR SENIOR MANAGEMENT.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE J, PART I, LINE 3
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00

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