Civic Intelligence

Independence Foundation Inc

EIN 46-1746787 • 501(c)3 • Baltimore, MD

Profile

We enhance stability and financial freedom through skill acquisition for children and adults in underserved communities to promote self- determination and independence.

13 S Carrollton AvenueBaltimore, MD 21223

independencefoundationinc.org

Siviq Scores

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

Liabilities / Assets

82nd percentile

0.19x

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

501(c)3 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

88th percentile

0.24x

Higher debt load relative to revenue than 88% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Net Margin

49th percentile

0.9%

Higher net margin than 49% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

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 2024

Asset Growth

50th percentile

-2.1%

Faster asset growth than 50% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

71st percentile

19%

Faster revenue growth than 71% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets82nd percentile

Assets

Down

$252,275

Down $5,532 (-2.1%) from 2023

Liabilities

Down

$47,306

Down $7,267 (-13%) from 2023

Net Assets

Up

$204,969

Up $1,735 (+0.9%) from 2023

Operations
Liabilities / Revenue88th percentileNet Margin49th percentile

Revenue

Up

$193,463

Up $31,292 (+19%) from 2023

Expenses

Up

$191,728

Up $20,135 (+12%) from 2023

Net Income

Up

$1,735

Up $11,157 (+118%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth50th percentile

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

$300K$200K$100K$0Assets 2014: $1Liabilities 2014: $02014Assets 2016: $0Net Assets 2016: $18,5182016Assets 2017: $261,915Liabilities 2017: $48,034Net Assets 2017: $213,8812017Assets 2018: $260,807Liabilities 2018: $41,363Net Assets 2018: $219,4442018Assets 2019: $257,771Liabilities 2019: $22,087Net Assets 2019: $235,6842019Assets 2020: $298,424Liabilities 2020: $58,357Net Assets 2020: $240,0672020Assets 2021: $271,896Liabilities 2021: $54,524Net Assets 2021: $217,3722021Assets 2022: $269,063Liabilities 2022: $56,407Net Assets 2022: $212,6562022Assets 2023: $257,807Liabilities 2023: $54,573Net Assets 2023: $203,2342023Assets 2024: $252,275Liabilities 2024: $47,306Net Assets 2024: $204,9692024

Highlighted filing

2024

Assets$252,275
Liabilities$47,306
Net Assets$204,969
Open 2024 Filing

Operations Trend

Revenue Growth71st percentile

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

$600K$400K$200K$0-$200KRevenue 2014: $0Expenses 2014: $0Net Income 2014: $02014Revenue 2016: $199,880Expenses 2016: $181,362Net Income 2016: $18,5182016Revenue 2017: $396,324Expenses 2017: $416,361Net Income 2017: -$20,0372017Revenue 2018: $341,180Expenses 2018: $335,617Net Income 2018: $5,5632018Revenue 2019: $283,659Expenses 2019: $267,419Net Income 2019: $16,2402019Revenue 2020: $288,877Expenses 2020: $284,494Net Income 2020: $4,3832020Revenue 2021: $182,817Expenses 2021: $205,512Net Income 2021: -$22,6952021Revenue 2022: $153,127Expenses 2022: $154,599Net Income 2022: -$1,4722022Revenue 2023: $162,171Expenses 2023: $171,593Net Income 2023: -$9,4222023Revenue 2024: $193,463Expenses 2024: $191,728Net Income 2024: $1,7352024

Highlighted filing

2024

Revenue$193,463
Expenses$191,728
Net Income$1,735
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$252,275
Liabilities
$47,306
Net assets
$204,969
Revenue
$193,463
Expenses
$191,728
Net income
$1,735
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.52$0.47$2.05$1.93$1.92$0.02
2023Detailed filing. Detailed filing data is available for this year.$2.58$0.55$2.03$1.62$1.72$0.09
2022Detailed filing. Detailed filing data is available for this year.$2.69$0.56$2.13$1.53$1.55$0.01
2021Detailed filing. Detailed filing data is available for this year.$2.72$0.55$2.17$1.83$2.06$0.23
2020Detailed filing. Detailed filing data is available for this year.$2.98$0.58$2.40$2.89$2.84$0.04
2019Detailed filing. Detailed filing data is available for this year.$2.58$0.22$2.36$2.84$2.67$0.16
2018Detailed filing. Detailed filing data is available for this year.$2.61$0.41$2.19$3.41$3.36$0.06
2017Detailed filing. Detailed filing data is available for this year.$2.62$0.48$2.14$3.96$4.16$0.20
2016Detailed filing. Detailed filing data is available for this year.$0.00$0.19$2.00$1.81$0.19
2014Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.00
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 14, 2025
Return Version
2024v5.0
Gross Receipts
$197,595
Mission and Program Overview

Mission

We enhance stability and financial freedom through skill acquisition for children and adults in underserved communities to promote self- determination and independence.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$256,198$250,000▼ $6,198
Rtn Earn Endowment Incm Other Fnds$203,234$204,969▲ $1,735
Loans From Officers Directors$54,573$47,306▼ $7,267
Cash and Non-Interest-Bearing Accounts$1,609$2,275▲ $666
Total Assets$257,807$252,275▼ $5,532
Liabilities
Total Liabilities$54,573$47,306▼ $7,267
Net Assets / Fund Balance
Total Net Assets Fund Balance$203,234$204,969▲ $1,735
Total Liabilities and Net Assets / Fund Balance$257,807$252,275▼ $5,532

Asset Categories

AssetBook ValueDepreciationBasis
Land$250,000-$250,000
Other Land Buildings-$6,000$6,000
Equipment-$2,000$2,000
Compensation and Service Providers
Top Officer Pay81st percentile

Board Members and Trustees

NameTitle
Vincent MartinChairman
Micheal PopeVice-chairma
Hakim AliDirector
Lavon MagruderDirector
Tashawna FennellSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$1,846
Program Service Revenue
$187,472
Investment Income
$4,145
Other Revenue
$0
All Other Contributions
$1,846
Change in Net Assets
$1,735
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$101,468
Other Expenses$90,260
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$101,468--$101,468
Occupancy-$22,867-$22,867
Insurance-$16,355-$16,355
Office Expenses-$10,318-$10,318
All Other Expenses-$7,432-$7,432
Fees for Services Legal-$3,551-$3,551
Fees for Services Accounting-$3,000-$3,000
Other Expenses-$2,340-$2,340
Depreciation Depletion-$2,066-$2,066
Advertising-$559-$559
Travel-$342-$342
Total Functional Expenses$101,468$90,260$0$191,728
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$54,573$47,306▼ $7,267
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Backup withholding compliance
No
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Independence Foundation Inc
EIN
46-1746787
Phone
4432041134
Address
13 S CARROLLTON AVENUE, BALTIMORE, MD 21223

Signing Officer

Name
Lavon Magruder
Title
Director
Phone
4432041134
Signed
2025-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lavon Magruder
Formed
2013
Legal Domicile
Md
Voting Board Members
3
Independent Board Members
3
Employees
0

Preparer

Firm
Ak & Associates Pa
Address
3300 N RIDGE RD STE 280, ELLICOTT CITY, MD 21043-3394
Preparer
Albert Kim
Phone
4107191000
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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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ReturnHeader/BuildTS02025-03-06 01:10:19Z
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ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DIRECTOR
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ReturnHeader/Filer/PhoneNum04432041134
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ReturnHeader/PreparerPersonGrp/PreparationDt02025-11-14
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ReturnHeader/ReturnTs02025-11-14T17:48:09-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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