Civic Intelligence

Independence Foundation Inc.

990 • Fiscal year 2021 • EIN 46-1746787

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 14, 2022

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

83rd percentile

0.20x

Higher debt load relative to assets than 83% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

87th percentile

0.30x

Higher debt load relative to revenue than 87% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Net Margin

23rd percentile

-12%

Higher net margin than 23% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Top Officer Pay

82nd percentile

$10,769

Higher top officer pay than 82% of similar nonprofits.

Top officer pay equals 5.9% of source-year revenue.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Asset Growth

27th percentile

-8.9%

Faster asset growth than 27% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

22nd percentile

-37%

Faster revenue growth than 22% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets83rd percentile

Assets

Down

$271,896

Down $26,528 (-8.9%) from 2020

Net Assets

Down

$217,372

Down $22,695 (-9.5%) from 2020

Liabilities

Down

$54,524

Down $3,833 (-6.6%) from 2020

Revenue And Expenses
Liabilities / Revenue87th percentileNet Margin23rd percentile

Revenue

Down

$182,817

Down $106,060 (-37%) from 2020

Expenses

Down

$205,512

Down $78,982 (-28%) from 2020

Net Income

Down

-$22,695

Down $27,078 (-618%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth27th 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

2021

Assets$271,896
Liabilities$54,524
Net Assets$217,372
Open 2021 Filing

Operations Trend

Revenue Growth22nd 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

2021

Revenue$182,817
Expenses$205,512
Net Income-$22,695
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 14, 2022
Return Version
2021v4.0
Gross Receipts
$182,817
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$280,243$267,588▼ $12,655
Rtn Earn Endowment Incm Other Fnds$240,067$217,372▼ $22,695
Loans From Officers Directors$27,607$40,255▲ $12,648
Cash and Non-Interest-Bearing Accounts$18,181$4,308▼ $13,873
Total Assets$298,424$271,896▼ $26,528
Liabilities
Other Liabilities$30,750$14,269▼ $16,481
Total Liabilities$58,357$54,524▼ $3,833
Net Assets / Fund Balance
Total Net Assets Fund Balance$240,067$217,372▼ $22,695
Total Liabilities and Net Assets / Fund Balance$298,424$271,896▼ $26,528

Asset Categories

AssetBook ValueDepreciationBasis
Land$250,000-$250,000
Equipment$17,588$33,807$51,395
Other Land Buildings-$6,000$6,000
Compensation and Service Providers
Top Officer Pay82nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Lavon MagruderDirectorFT$10,769$10,769

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
$175,817
Investment Income
$0
Other Revenue
$7,000
Change in Net Assets
$-22,695
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$109,323
Other Expenses$96,189
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$97,169--$97,169
Insurance-$28,042-$28,042
Depreciation Depletion-$12,655-$12,655
Current Officers, Directors, Trustees, and Key Employees-$10,769-$10,769
Occupancy-$9,186-$9,186
Fees for Services Legal-$9,058-$9,058
All Other Expenses-$3,287-$3,287
Office Expenses-$3,241-$3,241
Other Expenses-$2,392-$2,392
Payroll Taxes$1,385--$1,385
Fees for Services Accounting-$1,000-$1,000
Advertising-$951-$951
Payment Travel Entrtnmnt Publicly Ofcl-$376-$376
Travel-$60-$60
Total Functional Expenses$98,554$106,958$0$205,512
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$27,607$40,255▲ $12,648
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Auto Loan Payable - 2017 Audi$14,269
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
2022-11-14
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
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/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$271,896
Liabilities
$54,524
Net assets
$217,372
Revenue
$182,817
Expenses
$205,512
Net income
-$22,695
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