Civic Intelligence

Independence Foundation Inc.

990 • Fiscal year 2018 • EIN 46-1746787

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 12, 2019

Organization ProfileINDEPENDENCEFOUNDATIONINC.ORG
13 S Carrollton AvenueBaltimore, MD 21223

(443) 204-1134

Siviq Scores

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

Liabilities / Assets

82nd percentile

0.16x

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

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

Liabilities / Revenue

84th percentile

0.12x

Higher debt load relative to revenue than 84% of similar nonprofits.

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

Net Margin

46th percentile

1.6%

Higher net margin than 46% of similar nonprofits.

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

Top Officer Pay

86th percentile

$28,846

Higher top officer pay than 86% of similar nonprofits.

Top officer pay equals 8.5% of source-year revenue.

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

Asset Growth

44th percentile

-0.4%

Faster asset growth than 44% of similar nonprofits.

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

Revenue Growth

30th percentile

-14%

Faster revenue growth than 30% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets82nd percentile

Assets

Down

$260,807

Down $1,108 (-0.4%) from 2017

Net Assets

Up

$219,444

Up $5,563 (+2.6%) from 2017

Liabilities

Down

$41,363

Down $6,671 (-14%) from 2017

Revenue And Expenses
Liabilities / Revenue84th percentileNet Margin46th percentile

Revenue

Down

$341,180

Down $55,144 (-14%) from 2017

Expenses

Down

$335,617

Down $80,744 (-19%) from 2017

Net Income

Up

$5,563

Up $25,600 (+128%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth44th percentile

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

$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

2018

Assets$260,807
Liabilities$41,363
Net Assets$219,444
Open 2018 Filing

Operations Trend

Revenue Growth30th percentile

Revenue, expenses, and net income across loaded years, with this 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

2018

Revenue$341,180
Expenses$335,617
Net Income$5,563
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 12, 2019
Return Version
2018v3.1
Gross Receipts
$341,180
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$256,537$254,875▼ $1,662
Rtn Earn Endowment Incm Other Fnds$213,881$219,444▲ $5,563
Loans From Officers Directors$38,125$29,157▼ $8,968
Cash and Non-Interest-Bearing Accounts$5,378$5,932▲ $554
Total Assets$261,915$260,807▼ $1,108
Liabilities
Unsecured Notes Loans Payable$8,329$12,206▲ $3,877
Accounts Payable and Accrued Expenses$1,580--
Total Liabilities$48,034$41,363▼ $6,671
Net Assets / Fund Balance
Total Net Assets Fund Balance$213,881$219,444▲ $5,563
Total Liabilities and Net Assets / Fund Balance$261,915$260,807▼ $1,108

Asset Categories

AssetBook ValueDepreciationBasis
Land$250,000-$250,000
Other Land Buildings$2,286$3,714$6,000
Equipment$2,589$2,011$4,600
Compensation and Service Providers
Top Officer Pay86th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Lavon MagruderDirectorPT$28,846$28,846

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$341,180
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$5,563
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$200,880
Salaries, Compensation, and Employee Benefits$134,737
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$125,061--$125,061
Insurance-$19,942-$19,942
Occupancy-$14,488-$14,488
Other Expenses$87,176$13,771-$13,771
Office Expenses-$11,499-$11,499
Payroll Taxes$9,676--$9,676
Fees for Services Legal-$9,300-$9,300
All Other Expenses$494$6,101-$6,595
Advertising-$3,881-$3,881
Depreciation Depletion-$1,662-$1,662
Travel-$342-$342
Total Functional Expenses$222,407$113,210$0$335,617
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$38,125$29,157▼ $8,968
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 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
2019-11-12
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
5

Preparer

Firm
Albert T Kim CPA Pa
Address
4 E ROLLING CROSSROADS STE 211, CATONSVILLE, MD 21228
Preparer
Albert Kim
Phone
4107191000
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ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0LAVON MAGRUDER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum04432041134
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-11-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0INDEPENDENCE FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0INDE
ReturnHeader/Filer/EIN0461746787
ReturnHeader/Filer/PhoneNum04432041134
ReturnHeader/Filer/USAddress/AddressLine1Txt013 S CARROLLTON AVENUE
ReturnHeader/Filer/USAddress/CityNm0BALTIMORE
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ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt023.30.11.109
ReturnHeader/FilingSecurityInformation/IPDt02019-11-13
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm015:17:52
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CATONSVILLE
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd021228
ReturnHeader/PreparerPersonGrp/PhoneNum04107191000
ReturnHeader/PreparerPersonGrp/PreparationDt02019-11-12
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ALBERT KIM
ReturnHeader/ReturnTs02019-11-13T15:17:52-06:00
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
$260,807
Liabilities
$41,363
Net assets
$219,444
Revenue
$341,180
Expenses
$335,617
Net income
$5,563
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