Civic Intelligence

Independence First Foundation Inc.

990 • Fiscal year 2014 • EIN 46-2941274

Jan 01, 2014 to Dec 31, 2014 • Filed on May 11, 2015

Organization Profilewww.independencefirst.org
540 S 1st StreetMilwaukee, WI 53204

(414) 291-7520

Siviq Scores

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

Liabilities / Assets

20th percentile

0.03x

Higher debt load relative to assets than 20% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Liabilities / Revenue

69th percentile

0.55x

Higher debt load relative to revenue than 69% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Net Margin

92nd percentile

56%

Higher net margin than 92% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Top Officer Pay

87th percentile

$405,696

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 41.6% of source-year revenue.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2014

Asset Growth

53rd percentile

4.1%

Faster asset growth than 53% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2013 to 2014

Revenue Growth

1st percentile

-94%

Faster revenue growth than 1% of similar nonprofits.

2014 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets20th percentile

Assets

Up

$17,704,316

Up $699,477 (+4.1%) from 2013

Net Assets

Up

$17,169,787

Up $798,664 (+4.9%) from 2013

Liabilities

Down

$534,529

Down $99,187 (-16%) from 2013

Revenue And Expenses
Liabilities / Revenue69th percentileNet Margin92nd percentile

Revenue

Down

$974,395

Down $14,561,362 (-94%) from 2013

Expenses

Up

$432,367

Up $69,468 (+19%) from 2013

Net Income

Down

$542,028

Down $14,630,830 (-96%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth53rd percentile

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

$30M$20M$10M$0Assets 2013: $17,004,839Liabilities 2013: $633,716Net Assets 2013: $16,371,1232013Assets 2014: $17,704,316Liabilities 2014: $534,529Net Assets 2014: $17,169,7872014Assets 2015: $19,095,094Liabilities 2015: $1,718,616Net Assets 2015: $17,376,4782015Assets 2016: $20,317,471Liabilities 2016: $1,452,395Net Assets 2016: $18,865,0762016Assets 2017: $20,798,825Liabilities 2017: $160,709Net Assets 2017: $20,638,1162017Assets 2018: $19,120,986Liabilities 2018: $146,333Net Assets 2018: $18,974,6532018Assets 2019: $20,127,493Liabilities 2019: $501,951Net Assets 2019: $19,625,5422019Assets 2020: $17,262,929Liabilities 2020: $13,267Net Assets 2020: $17,249,6622020Assets 2021: $18,363,879Liabilities 2021: $15,979Net Assets 2021: $18,347,9002021Assets 2022: $14,839,162Liabilities 2022: $13,735Net Assets 2022: $14,825,4272022Assets 2023: $15,909,734Liabilities 2023: $14,585Net Assets 2023: $15,895,1492023Assets 2024: $16,601,650Liabilities 2024: $15,149Net Assets 2024: $16,586,5012024

Highlighted filing

2014

Assets$17,704,316
Liabilities$534,529
Net Assets$17,169,787
Open 2014 Filing

Operations Trend

Revenue Growth1st percentile

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

$20M$15M$10M$5.0M$0-$5.0MRevenue 2013: $15,535,757Expenses 2013: $362,899Net Income 2013: $15,172,8582013Revenue 2014: $974,395Expenses 2014: $432,367Net Income 2014: $542,0282014Revenue 2015: $1,128,292Expenses 2015: $149,131Net Income 2015: $979,1612015Revenue 2016: $1,046,977Expenses 2016: $283,641Net Income 2016: $763,3362016Revenue 2017: $1,780,906Expenses 2017: $1,072,115Net Income 2017: $708,7912017Revenue 2018: $2,133,462Expenses 2018: $1,038,120Net Income 2018: $1,095,3422018Revenue 2019: $1,121,043Expenses 2019: $3,260,182Net Income 2019: -$2,139,1392019Revenue 2020: $401,385Expenses 2020: $4,473,266Net Income 2020: -$4,071,8812020Revenue 2021: $3,232,092Expenses 2021: $808,781Net Income 2021: $2,423,3112021Revenue 2022: $489,061Expenses 2022: $842,144Net Income 2022: -$353,0832022Revenue 2023: $591,102Expenses 2023: $914,397Net Income 2023: -$323,2952023Revenue 2024: $1,048,715Expenses 2024: $880,317Net Income 2024: $168,3982024

Highlighted filing

2014

Revenue$974,395
Expenses$432,367
Net Income$542,028
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
May 11, 2015
Return Version
2014v5.0
Gross Receipts
$3,414,643
Mission and Program Overview

Mission

To support the charitable mission of IndependenceFirst, Inc. which is a community-based, non-residential independent living center in Milwaukee, WI.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$13,768,569$14,047,034▲ $278,465
Investments Other Securities$3,183,442$3,588,604▲ $405,162
Accounts Receivable$52,828$54,654▲ $1,826
Cash and Non-Interest-Bearing Accounts-$14,024-
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$17,004,839$17,704,316▲ $699,477
Other Assets Total-$0-
Liabilities
Other Liabilities$332,189$413,646▲ $81,457
Accounts Payable and Accrued Expenses$301,527$120,883▼ $180,644
Total Liabilities$633,716$534,529▼ $99,187
Net Assets / Fund Balance
Unrestricted Net Assets$13,922,778$14,871,383▲ $948,605
Temporarily Rstr Net Assets$2,448,345$2,298,404▼ $149,941
Total Net Assets Fund Balance$16,371,123$17,169,787▲ $798,664
Total Liabilities and Net Assets / Fund Balance$17,004,839$17,704,316▲ $699,477
Compensation and Service Providers
Top Officer Pay87th percentile

Employees

NameTitleOtherTotal
Wendy HuotDirector of Finance$116,512$116,512

Board Members and Trustees

NameTitle
John SchmidChair
Lee SchulzCEO/president
Martha ValerioVice Chair
Paul WierzbaDirector
Robert DavisSecretary
Ronald JodatTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$198,340
Program Service Revenue
$0
Investment Income
$776,055
Other Revenue
$0
All Other Contributions
$198,340
Change in Net Assets
$542,028
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$287,854
Other Expenses$144,513
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$287,854--$287,854
Other Expenses-$81,427-$81,427
Fees for Service Investment Mgmnt Fees-$63,086-$63,086
Total Functional Expenses$287,854$144,513$0$432,367
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Independencefirst IncMilwaukee, WI501(c)(3)wisloan and telework operations$287,854
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
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Reserve for Wisloan and Teleworks$413,616
Agency Advances$30
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“All board members are provided a copy of the 990 prior to finalization of the return.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“Annually the President/CEO or the Chairman of the Board shall send to all Employees, Volunteers, and Foundation Board of Directors a copy of the conflict of interest policy which requires a signature.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“At this time there are no paid employees of the organization. If paid employees were to be added, thorough compensation policies would be established and followed.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“At this time there are no paid employees of the organization. If paid employees were to be added, thorough compensation policies would be established and followed.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“The Organization will provide documents available for public inspection upon request.”

Filing and Contact Details

Filer

Filer Name
Independencefirst Foundation Inc
EIN
46-2941274
Phone
4142917520
Address
540 S 1ST STREET, MILWAUKEE, WI 53204

Signing Officer

Name
Wendy Huot
Title
Director of Finance
Signed
2015-05-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Schmid
Formed
2013
Legal Domicile
Wi
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
5

Preparer

Firm
Ritz Holman LLP
Address
330 E Kilbourn Ste 550, Milwaukee, WI 53202-3144
Preparer
Andrew C Holman
Phone
4142711451
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“IndependenceFirst Foundation, Inc. is exempt from income tax under Section 501(c)(3) and had no unrelated business or business income tax. The audit Note includes the unrelated business income of the consolidated entities and is reported as follows: The Organization is exempt from income tax under Section 501(c)(3) of the Internal Revenue Code and is classified as other than a private foundation. However, income from certain activities (primarily rental income on debt financed property) not directly related to the Organizations tax-exempt purpose is subject to taxation as unrelated business income. As of December 31, 2014, no unrelated business income was generated.Management has reviewed all tax positions recognized in previously filed tax returns in the U.S. federal and state jurisdictions and those expected to be taken in future tax returns. As of December 31, 2014, the Organization had no amounts related to unrecognized income tax benefits and no amounts related to accrued interest and penalties. The Organization does not anticipate any significant changes to unrecognized income tax benefits over the next year. The Organization is currently not under audit by any federal or state taxing authority and is no longer subject to tax examinations by the U.S. federal jurisdiction for years prior to 2010 and the state jurisdiction for years prior to 2009.”

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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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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Agency Advances
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Reserve for Wisloan and Teleworks
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0IndependenceFirst Foundation, Inc. is exempt from income tax under Section 501(c)(3) and had no unrelated business or business income tax. The audit Note includes the unrelated business income of the consolidated entities and is reported as follows: The Organization is exempt from income tax under Section 501(c)(3) of the Internal Revenue Code and is classified as other than a private foundation. However, income from certain activities (primarily rental income on debt financed property) not directly related to the Organizations tax-exempt purpose is subject to taxation as unrelated business income. As of December 31, 2014, no unrelated business income was generated.Management has reviewed all tax positions recognized in previously filed tax returns in the U.S. federal and state jurisdictions and those expected to be taken in future tax returns. As of December 31, 2014, the Organization had no amounts related to unrecognized income tax benefits and no amounts related to accrued interest and penalties. The Organization does not anticipate any significant changes to unrecognized income tax benefits over the next year. The Organization is currently not under audit by any federal or state taxing authority and is no longer subject to tax examinations by the U.S. federal jurisdiction for years prior to 2010 and the state jurisdiction for years prior to 2009.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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IRS990ScheduleD/TotalLiabilityAmt0413646
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IRS990ScheduleI/RecipientTable/NonCashAssistanceDesc0None
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0wisloan and telework operations
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0INDEPENDENCEFIRST INC
IRS990ScheduleI/RecipientTable/RecipientEIN0391343425
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0540 S 1ST ST
IRS990ScheduleI/RecipientTable/USAddress/CityNm0MILWAUKEE
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0WI
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd053204
IRS990ScheduleI/RecipientTable/ValuationMethodUsedDesc0Cash - fmv
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0The Organization receives documentation supporting the program costs which it reimburses.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Grantmaker's Description of How Grants are Used
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0198772
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt015773
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt0134118
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0LEE SCHULZ
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CEO/PRESIDENT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0405696
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0All board members are provided a copy of the 990 prior to finalization of the return.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Annually the President/CEO or the Chairman of the Board shall send to all Employees, Volunteers, and Foundation Board of Directors a copy of the conflict of interest policy which requires a signature.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2At this time there are no paid employees of the organization. If paid employees were to be added, thorough compensation policies would be established and followed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3At this time there are no paid employees of the organization. If paid employees were to be added, thorough compensation policies would be established and followed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The Organization will provide documents available for public inspection upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990ScheduleR/AssetSaleToOtherOrgInd0false
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0true
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0IndependenceFirst Inc
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0391343425
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0WI
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0Independent Living Center
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0509(a)(1)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0540 S 1st STreet
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Milwaukee
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0WI
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd0532041605
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IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0true
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0true
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0287854
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt1194400
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0FMV
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IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0IndependenceFirst Inc
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1IndependenceFirst Inc
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IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1c
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IRS990/SchoolOperatingInd0false
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IRS990/StatesWhereCopyOfReturnIsFldCd0WI
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt02448345

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$17,704,316
Liabilities
$534,529
Net assets
$17,169,787
Revenue
$974,395
Expenses
$432,367
Net income
$542,028
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$16.6$0.02$16.6$1.05$0.88$0.17
2023Detailed filing. Detailed filing data is available for this year.$15.9$0.01$15.9$0.59$0.91$0.32
2022Detailed filing. Detailed filing data is available for this year.$14.8$0.01$14.8$0.49$0.84$0.35
2021Detailed filing. Detailed filing data is available for this year.$18.4$0.02$18.3$3.23$0.81$2.42
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.3$0.01$17.2$0.40$4.47$4.07
2019Detailed filing. Detailed filing data is available for this year.$20.1$0.50$19.6$1.12$3.26$2.14
2018Detailed filing. Detailed filing data is available for this year.$19.1$0.15$19.0$2.13$1.04$1.10
2017Detailed filing. Detailed filing data is available for this year.$20.8$0.16$20.6$1.78$1.07$0.71
2016Detailed filing. Detailed filing data is available for this year.$20.3$1.45$18.9$1.05$0.28$0.76
2015Detailed filing. Detailed filing data is available for this year.$19.1$1.72$17.4$1.13$0.15$0.98
2014Detailed filing. Detailed filing data is available for this year.$17.7$0.53$17.2$0.97$0.43$0.54
2013Detailed filing. Detailed filing data is available for this year.$17.0$0.63$16.4$15.5$0.36$15.2
Peer Organizations

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