Civic Intelligence

Independence Foundation Inc.

990 • Fiscal year 2019 • EIN 46-1746787

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 15, 2020

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

78th percentile

0.09x

Higher debt load relative to assets than 78% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

81st percentile

0.08x

Higher debt load relative to revenue than 81% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Net Margin

55th percentile

5.7%

Higher net margin than 55% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Top Officer Pay

85th percentile

$24,615

Higher top officer pay than 85% of similar nonprofits.

Top officer pay equals 8.7% of source-year revenue.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Asset Growth

42nd percentile

-1.2%

Faster asset growth than 42% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

27th percentile

-17%

Faster revenue growth than 27% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets78th percentile

Assets

Down

$257,771

Down $3,036 (-1.2%) from 2018

Net Assets

Up

$235,684

Up $16,240 (+7.4%) from 2018

Liabilities

Down

$22,087

Down $19,276 (-47%) from 2018

Revenue And Expenses
Liabilities / Revenue81st percentileNet Margin55th percentile

Revenue

Down

$283,659

Down $57,521 (-17%) from 2018

Expenses

Down

$267,419

Down $68,198 (-20%) from 2018

Net Income

Up

$16,240

Up $10,677 (+192%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth42nd 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

2019

Assets$257,771
Liabilities$22,087
Net Assets$235,684
Open 2019 Filing

Operations Trend

Revenue Growth27th 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

2019

Revenue$283,659
Expenses$267,419
Net Income$16,240
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 15, 2020
Return Version
2019v5.0
Gross Receipts
$283,659
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$254,875$253,212▼ $1,663
Rtn Earn Endowment Incm Other Fnds$219,444$235,684▲ $16,240
Loans From Officers Directors$29,157$15,607▼ $13,550
Cash and Non-Interest-Bearing Accounts$5,932$4,559▼ $1,373
Total Assets$260,807$257,771▼ $3,036
Liabilities
Unsecured Notes Loans Payable$12,206$6,480▼ $5,726
Total Liabilities$41,363$22,087▼ $19,276
Net Assets / Fund Balance
Total Net Assets Fund Balance$219,444$235,684▲ $16,240
Total Liabilities and Net Assets / Fund Balance$260,807$257,771▼ $3,036

Asset Categories

AssetBook ValueDepreciationBasis
Land$250,000-$250,000
Other Land Buildings$1,429$4,571$6,000
Equipment$1,783$2,817$4,600
Compensation and Service Providers
Top Officer Pay85th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Lavon MagruderDirectorPT$24,615$24,615

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
$283,659
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$16,240
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$240,564
Salaries, Compensation, and Employee Benefits$26,855
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Insurance-$28,486-$28,486
Current Officers, Directors, Trustees, and Key Employees$24,615--$24,615
Occupancy-$15,938-$15,938
Other Expenses$117,956$13,768-$13,768
All Other Expenses$974$11,381-$12,355
Office Expenses-$7,528-$7,528
Advertising-$4,688-$4,688
Fees for Services Legal-$4,077-$4,077
Interest-$2,289-$2,289
Payroll Taxes$2,240--$2,240
Fees for Services Accounting-$2,000-$2,000
Depreciation Depletion-$1,663-$1,663
Payment Travel Entrtnmnt Publicly Ofcl-$83-$83
Total Functional Expenses$145,785$121,634$0$267,419
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$29,157$15,607▼ $13,550
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
2020-11-15
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
1

Preparer

Firm
Albert T Kim CPA Pa
Address
3300 N RIDGE RD SUITE 380, ELLICOTT CITY, MD 21043
Preparer
Albert Kim
Phone
4107191000
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ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$257,771
Liabilities
$22,087
Net assets
$235,684
Revenue
$283,659
Expenses
$267,419
Net income
$16,240
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