Civic Intelligence

Independence First Foundation Inc.

990 • Fiscal year 2015 • EIN 46-2941274

Jan 01, 2015 to Dec 31, 2015 • Filed on May 05, 2016

Organization ProfileWWW.INDEPENDENCEFIRST.ORG
540 S 1st StMilwaukee, WI 53204-1605

(414) 291-7520

Siviq Scores

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

Liabilities / Assets

32nd percentile

0.09x

Higher debt load relative to assets than 32% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Liabilities / Revenue

85th percentile

1.52x

Higher debt load relative to revenue than 85% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Net Margin

98th percentile

87%

Higher net margin than 98% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Top Officer Pay

74th percentile

$262,457

Higher top officer pay than 74% of similar nonprofits.

Top officer pay equals 23.3% of source-year revenue.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Asset Growth

72nd percentile

7.9%

Faster asset growth than 72% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Revenue Growth

76th percentile

16%

Faster revenue growth than 76% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets32nd percentile

Assets

Up

$19,095,094

Up $1,390,778 (+7.9%) from 2014

Net Assets

Up

$17,376,478

Up $206,691 (+1.2%) from 2014

Liabilities

Up

$1,718,616

Up $1,184,087 (+222%) from 2014

Revenue And Expenses
Liabilities / Revenue85th percentileNet Margin98th percentile

Revenue

Up

$1,128,292

Up $153,897 (+16%) from 2014

Expenses

Down

$149,131

Down $283,236 (-66%) from 2014

Net Income

Up

$979,161

Up $437,133 (+81%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth72nd 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

2015

Assets$19,095,094
Liabilities$1,718,616
Net Assets$17,376,478
Open 2015 Filing

Operations Trend

Revenue Growth76th 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

2015

Revenue$1,128,292
Expenses$149,131
Net Income$979,161
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
May 5, 2016
Return Version
2015v2.1
Gross Receipts
$9,040,019
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.

Independencefirst foundation, inc. Supports the charitable mission of independencefirst, inc., a community-based, non-residential independent living center in milwaukee, wisconsin.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$17,635,638$19,024,590▲ $1,388,952
Accounts Receivable$54,654$45,995▼ $8,659
Cash and Non-Interest-Bearing Accounts$14,024$24,509▲ $10,485
Total Assets$17,704,316$19,095,094▲ $1,390,778
Liabilities
Accounts Payable and Accrued Expenses$120,883$1,225,000▲ $1,104,117
Other Liabilities$413,646$493,616▲ $79,970
Total Liabilities$534,529$1,718,616▲ $1,184,087
Net Assets / Fund Balance
Unrestricted Net Assets$14,871,383$15,133,314▲ $261,931
Temporarily Rstr Net Assets$2,298,404$2,243,164▼ $55,240
Total Net Assets Fund Balance$17,169,787$17,376,478▲ $206,691
Total Liabilities and Net Assets / Fund Balance$17,704,316$19,095,094▲ $1,390,778
Compensation and Service Providers
Top Officer Pay74th percentile

Employees

NameTitleOtherTotal
Tracy ThomasController$125,441$125,441
Wendy HuotDirector of Finance$119,483$119,483

Board Members and Trustees

NameTitle
Mike LipscombChair
Lee SchulzPresident/CEO
Martha ValerioVice Chair
Ron JodatDirector
Alex YarmulnikSecretary
John LauberTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$297,786
Program Service Revenue
$0
Investment Income
$828,055
Other Revenue
$2,451
All Other Contributions
$1,610
Change in Net Assets
$979,161
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$149,131
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$80,000--$80,000
Fees for Service Investment Mgmnt Fees-$69,131-$69,131
Total Functional Expenses$80,000$69,131$0$149,131
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$2,990
Fundraising Direct Expenses$539
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Reserve for Wisloan and Telework Programs$493,616
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11

“The prepared form 990 is reviewed by the members of the governing body before the return is filed with the irs.”

Form 990, Part VI, Section B, Line 12C

“Annually all directors and officers complete and sign a statement that provides information regarding their interests and those of their family members that could give rise to conflicts. The members of the governing body make determinations of whether a conflict exists and review actual conflicts. Any person with a conflict is prohibited from participating in the governing body's deliberations and decisions in the transaction.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Independencefirst Foundation Inc
EIN
46-2941274
Phone
4142917520
Address
540 S 1ST ST, MILWAUKEE, WI 53204-1605

Signing Officer

Name
Mike Lipscomb
Title
Chair
Phone
4142917520
Signed
2016-05-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mike Lipscomb
Formed
2013
Legal Domicile
Wi
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
9

Preparer

Firm
Wegner Cpas Llp
Address
2110 LUANN LN, MADISON, WI 53713-3074
Preparer
Jenny Tarkowski CPA
Phone
6082744020
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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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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0217934
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt016545
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt027978
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0LEE SCHULZ
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT/CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0262457
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE PREPARED FORM 990 IS REVIEWED BY THE MEMBERS OF THE GOVERNING BODY BEFORE THE RETURN IS FILED WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ANNUALLY ALL DIRECTORS AND OFFICERS COMPLETE AND SIGN A STATEMENT THAT PROVIDES INFORMATION REGARDING THEIR INTERESTS AND THOSE OF THEIR FAMILY MEMBERS THAT COULD GIVE RISE TO CONFLICTS. THE MEMBERS OF THE GOVERNING BODY MAKE DETERMINATIONS OF WHETHER A CONFLICT EXISTS AND REVIEW ACTUAL CONFLICTS. ANY PERSON WITH A CONFLICT IS PROHIBITED FROM PARTICIPATING IN THE GOVERNING BODY'S DELIBERATIONS AND DECISIONS IN THE TRANSACTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd01
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0INDEPENDENCEFIRST INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0391343425
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0WI
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0INDEPENDENT LIVING CENTER FOR PERSONS WITH DISABILITIES
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 9
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0540 S 1ST ST
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0MILWAUKEE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0WI
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd0532041605
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0WI
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt02298404
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt02243164
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt017704316
IRS990/TotalAssetsEOYAmt019095094
IRS990/TotalAssetsGrp/BOYAmt017704316
IRS990/TotalAssetsGrp/EOYAmt019095094
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalContributionsAmt0297786
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt069131
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt080000
IRS990/TotalFunctionalExpensesGrp/TotalAmt0149131
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0534529
IRS990/TotalLiabilitiesEOYAmt01718616
IRS990/TotalLiabilitiesGrp/BOYAmt0534529
IRS990/TotalLiabilitiesGrp/EOYAmt01718616
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt017169787
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt017376478
IRS990/TotalOtherCompensationAmt066132
IRS990/TotalProgramServiceExpensesAmt080000
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0830506
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01128292
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt09
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt017704316
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt019095094
IRS990/TotReportableCompRltdOrgAmt0441249
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt014871383
IRS990/UnrestrictedNetAssetsGrp/EOYAmt015133314
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0540 S 1ST ST
IRS990/USAddress/CityNm0MILWAUKEE
IRS990/USAddress/StateAbbreviationCd0WI
IRS990/USAddress/ZIPCd0532041605
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.INDEPENDENCEFIRST.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02016-09-27 15:27:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0MIKE LIPSCOMB
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIR
ReturnHeader/BusinessOfficerGrp/PhoneNum04142917520
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-05-05
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0INDEPENDENCEFIRST FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0INDE
ReturnHeader/Filer/EIN0462941274
ReturnHeader/Filer/PhoneNum04142917520
ReturnHeader/Filer/USAddress/AddressLine1Txt0540 S 1ST ST
ReturnHeader/Filer/USAddress/CityNm0MILWAUKEE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0WI
ReturnHeader/Filer/USAddress/ZIPCd0532041605
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0390974031
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0WEGNER CPAS LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02110 LUANN LN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MADISON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0WI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0537133074
ReturnHeader/PreparerPersonGrp/PhoneNum06082744020
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JENNY TARKOWSKI CPA
ReturnHeader/ReturnTs02016-05-09T10:39:17-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-01-01
ReturnHeader/TaxPeriodEndDt02015-12-31

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$19,095,094
Liabilities
$1,718,616
Net assets
$17,376,478
Revenue
$1,128,292
Expenses
$149,131
Net income
$979,161
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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