Civic Intelligence

The Foundation for Embryonic Competence Inc.

990 • Fiscal year 2015 • EIN 46-3032063

Oct 01, 2014 to Sep 30, 2015 • Filed on Aug 12, 2016

140 Allen RoadBasking Ridge, NJ 07920

(908) 580-1200

Siviq Scores

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

Liabilities / Assets

10th percentile

0.01x

Higher debt load relative to assets than 10% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2015

Liabilities / Revenue

20th percentile

0.12x

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

2015 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2015

Net Margin

81st percentile

23%

Higher net margin than 81% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2015

Top Officer Pay

6th percentile

$97,297

Higher top officer pay than 6% of similar nonprofits.

Top officer pay equals 1.0% of source-year revenue.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2015

Asset Growth

54th percentile

2.6%

Faster asset growth than 54% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2014 to 2015

Revenue Growth

1st percentile

-90%

Faster revenue growth than 1% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2014 to 2015

Assets

Up

$93,972,721

Up $2,346,598 (+2.6%) from 2014

Net Assets

Up

$92,781,247

Up $2,015,757 (+2.2%) from 2014

Liabilities

Up

$1,191,474

Up $330,841 (+38%) from 2014

Revenue

Down

$9,684,125

Down $84,948,851 (-90%) from 2014

Expenses

Up

$7,478,668

Up $3,648,049 (+95%) from 2014

Net Income

Down

$2,205,457

Down $88,596,900 (-98%) from 2014

Historical Trend

Balance Sheet Trend

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

$100M$50M$0-$50MAssets 2013: $414,217Liabilities 2013: $414,348Net Assets 2013: -$1312013Assets 2014: $91,626,123Liabilities 2014: $860,633Net Assets 2014: $90,765,4902014Assets 2015: $93,972,721Liabilities 2015: $1,191,474Net Assets 2015: $92,781,2472015Assets 2016: $95,139,687Liabilities 2016: $566,861Net Assets 2016: $94,572,8262016Assets 2017: $22,887,313Liabilities 2017: $517,970Net Assets 2017: $22,369,3432017Assets 2018: $23,560,103Liabilities 2018: $1,820,682Net Assets 2018: $21,739,4212018Assets 2019: $21,003,256Liabilities 2019: $1,150,029Net Assets 2019: $19,853,2272019Assets 2020: $20,006,242Liabilities 2020: $1,275,666Net Assets 2020: $18,730,5762020Assets 2021: $27,223,706Liabilities 2021: $914,946Net Assets 2021: $26,308,7602021Assets 2022: $16,430,730Liabilities 2022: $365,526Net Assets 2022: $16,065,2042022Assets 2023: $14,752,429Liabilities 2023: $165,446Net Assets 2023: $14,586,9832023Assets 2024: $13,627,794Liabilities 2024: $158,676Net Assets 2024: $13,469,1182024

Highlighted filing

2015

Assets$93,972,721
Liabilities$1,191,474
Net Assets$92,781,247

Operations Trend

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

$100M$50M$0-$50M-$100MRevenue 2013: $0Expenses 2013: $131Net Income 2013: -$1312013Revenue 2014: $94,632,976Expenses 2014: $3,830,619Net Income 2014: $90,802,3572014Revenue 2015: $9,684,125Expenses 2015: $7,478,668Net Income 2015: $2,205,4572015Revenue 2016: $9,631,499Expenses 2016: $8,079,084Net Income 2016: $1,552,4152016Revenue 2017: $8,966,143Expenses 2017: $77,414,549Net Income 2017: -$68,448,4062017Revenue 2018: $5,963,159Expenses 2018: $6,568,585Net Income 2018: -$605,4262018Revenue 2019: $5,872,571Expenses 2019: $7,812,065Net Income 2019: -$1,939,4942019Revenue 2020: $5,787,769Expenses 2020: $6,938,014Net Income 2020: -$1,150,2452020Revenue 2021: $15,272,541Expenses 2021: $8,009,129Net Income 2021: $7,263,4122021Revenue 2022: $7,260,831Expenses 2022: $4,653,715Net Income 2022: $2,607,1162022Revenue 2023: -$3,532,420Expenses 2023: $1,387,565Net Income 2023: -$4,919,9852023Revenue 2024: $60,778Expenses 2024: $1,351,782Net Income 2024: -$1,291,0042024

Highlighted filing

2015

Revenue$9,684,125
Expenses$7,478,668
Net Income$2,205,457
Jump To
Filing Snapshot
Filing Period
Oct 1, 2014 to Sep 30, 2015
Signed
Aug 12, 2016
Return Version
2014v6.0
Gross Receipts
$17,097,579
Mission and Program Overview

Mission

Technology (art) clinics.providing broad access to single gene disorder diagnostics so that individual with a known genetic condition can have their embryos evaluated to improve their likelihood of having a baby who is not affected by the genetic conditionsponsoring research that advances the field of embryonic competence and provides a clear pathway to improved clinical outcomes and reduced complications for ivf pateints.supporting continuing medical education (cme), graduate-level educational initiatives, and other educational activities to advance our understanding and the application of embryonic diagnostics around the world.

See attached schedule o, no.08

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$90,765,490$92,781,247▲ $2,015,757
Investments in Publicly Traded Securities$2,797,206$3,212,050▲ $414,844
Land, Buildings, and Equipment, Net$310,383$1,220,832▲ $910,449
Cash and Non-Interest-Bearing Accounts$442,683$886,209▲ $443,526
Inventories for Sale or Use$279,677$615,894▲ $336,217
Accounts Receivable$148,249$376,743▲ $228,494
Prepaid Expenses and Deferred Charges-$173,972-
Other Notes and Loans Receivable, Net$168,683$7,779▼ $160,904
Total Assets$91,626,123$93,972,721▲ $2,346,598
Other Assets Total$87,479,242$87,479,242→ $0
Liabilities
Accounts Payable and Accrued Expenses$380,398$574,340▲ $193,942
Deferred Revenue$431,835$534,634▲ $102,799
Grants Payable$48,400$82,500▲ $34,100
Total Liabilities$860,633$1,191,474▲ $330,841
Net Assets / Fund Balance
Total Net Assets Fund Balance$90,765,490$92,781,247▲ $2,015,757
Total Liabilities and Net Assets / Fund Balance$91,626,123$93,972,721▲ $2,346,598

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,220,832$394,788$1,615,620
Other Assets Org$87,479,242--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Rebekah ZimmermanDirector of Clinical GeneticsFT$97,297$97,297
David SharpellControllerPT$89,121$89,121
James PattersonChief Operating OfficerFT$79,169$79,169

Board Members and Trustees

NameTitle
Richard Scott MdPresdirector
Lyn JacobsonSecretarydirector
William Chow MdTreasurerdirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Duanne Morris LLPLegal30 SOUTH 17 STREET, Philadelphia, PA 19103-4196$186,511
Revenue and Support

Revenue Composition

Contributions and Grants
$665,428
Program Service Revenue
$9,239,042
Investment Income
$-220,345
Other Revenue
$0
All Other Contributions
$665,428
Change in Net Assets
$2,205,457

Audited Revenue Reconciliation

Revenue per Audited Statements
$9,684,125
Revenue Not Reported on Form 990
$-189,699
Total Revenue per Audited Statements
$9,494,426
Total Revenue per Form 990
$9,684,125
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,697,718
Salaries, Compensation, and Employee Benefits$2,334,765
Grants and Similar Amounts Paid$446,185
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$2,567,586$6,639-$2,567,586
Other Salaries and Wages$1,535,965$491,493-$2,027,458
Grants to Domestic Orgs$446,185--$446,185
Depreciation Depletion$331,646$11,827-$343,473
Fees for Services Other$232,872$48,717-$281,589
Fees for Services Management$153,000$94,512-$247,512
All Other Expenses$213,171$20,963-$234,134
Advertising$196$201,760-$201,956
Payroll Taxes$139,127$38,351-$177,478
Fees for Services Legal-$139,671-$139,671
Other Employee Benefits$86,462$31,813-$118,275
Occupancy-$109,620-$109,620
Insurance$4,507$83,517-$88,024
Conferences and Meetings$26,300$56,962-$83,262
Information Technology$17,655$24,387-$42,042
Travel$11,922$19,680-$31,602
Fees for Services Accounting-$18,570-$18,570
Office Expenses$13,283$2,101-$15,384
Pension Plan Contributions-$11,554-$11,554
Total Functional Expenses$5,843,470$1,635,198$0$7,478,668

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$7,478,668
Total Expenses per Audited Statements$7,478,668
Total Expenses per Form 990$7,478,668
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Rma Nj LLCBasking Ridge, NJ-Natural Ivf-see Supplemental Information$100,000
Rma Nj LLCBasking Ridge, NJ501c3Nex Gen -see Supplemental Information$78,000
Shady GrovenihRockville, MD501c3See Supplemental Information$57,500
Univ of IowaIowa City, IA501c3See Supplemental Information$42,600
Rma Nj LLCBasking Ridge, NJ-Summit - See Supplemental Information$42,000
Rutgers Robert Wood JohnsonNew Brunswick, NJ-See Supplemental Information$35,000
University of CA San DiegoLa Jolla, CA501c3See Supplemental Information$35,000
Rma Nj LLCBasking Ridge, NJ-Solaire-see Supplemental Information$30,000
Rma Nj LLCBasking Ridge, NJ-Vitamin D Study - See Supplemental Info$26,085
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Organizational document changes Part VI line 4

Bylaws were amended and restated in june 2016 to include additional charitable & educational purposes which is to support a specialty pharmacy in the area of reproductive medicine and patient education and counseling using specialty pharmacy drugs. The support and use of specialty pharmacy products would enable use of generic delivery systems & blinded studies to enhance the integrity of the experimental designs used in studies evaluating phases of the clinical ivf process which would enhance embryo quality and implantation rates.

Member election for additional members Part VI line 7A

Part vi - section a- line 7athe board of directors have the right to appoint the directors and officers of the organization. The board members have 3 year terms and officers have one year terms

Form 990 governing body review Part VI line 11

The directors and financial employee receive a copy of the form 990 for review, corrections and comments

Conflict of interest policy compliance Part VI line 12C

The company reviews its conflict of interest policy with its directors, trustees and key employees on a yearly basis to monitor compliance. An annual conflict of interest questionnaire is completed by each director and officer to ensure that any conflicts are identified and resolved.

CEO executive director top management comp Part VI line 15A

Part vi question 15ain article vii of the organizationss conflict of interest policy - periodic reviews will be conducted to ensure the organization operates in a manner consistent with charitable purposes which would include whether compensation arrangements and benefits are reasonable, based on competent survey information , and the result of arms length bargaining. When conducting this review the organization may, but need not, use outside advisors. If outside experts are used, their use shall not relieve the governing board of its responsibililty for ensuring periodic reviews are conducted. Through 9/30/15, the organization used a market survey to confirm the chief operating officers salary.

Other officer or key employee compensation Part VI line 15B

Part vi 15(b)see answer to 15(a) - same answer is applicable to 15(b)

Governing documents etc available to public Part VI line 19

All documents are available to the public by contacting the chief operating officer at:140 allen roadbasking ridge, nj 07920the public can receive this information through the foundations website www.faeec.org

Filing and Contact Details

Filer

Filer Name
The Foundation for Embryonic Competence Inc
EIN
46-3032063
Address
140 ALLEN ROAD, BASKING RIDGE, NJ 07920

Signing Officer

Name
David Sharpell
Title
Controller
Phone
9085801200
Signed
2016-08-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Richard Scott Md
Formed
2013
Legal Domicile
Nj
Voting Board Members
3
Independent Board Members
3
Employees
25

Preparer

Firm
Schreck Bavaro & Company LLC
Address
342 Wall Street, Princeton, NJ 08540
Preparer
Michael J Bavaro CPA
Phone
6094301500
Supplemental Narrative

Additional Explanations

General explanation attachment

Part 1 line 1 and part iii line 1 - organizations missionprovide broad access to contemporary embryo and single gene defect diagnostics, which are not commonly provided within art clinics; sponsor clinical research into new embryo diagnostics; provide continuing medical education and graduate fellowship education related to the application of diagnostics used to assess embryonic reproductive competence. Support specialty pharmacy in the area of reproductive medicine, which can provide comparative support for studies where medications need to be blinded. The support of specialty pharmacy is critical in studies evaluating phases of the clinical ivf process, which would enhance embryo quality or implantation rates. Given the virtual impossibility of performing blinded studies in the field, due to the use of injectables and suppositories with specific packaging and delivery materials, the support and use of specialty pharmacy products would enable the use of generic delivery systems and blinded studies to enhance the integrity of the experimental designs used in these studies. Provide patient education regarding the use of specialty pharmacy drugs and medications in support of embryonic and single gene testing protocols. The wide stream dissemination of educational materials and patient counseling through the foundation, produced in conjunction with specialty pharmacies, will enhance and support current clinical medications and protocols, teach, train and follow up with patients regarding possible side effects or complications, research protocols performed by the foundation, result in superior patient outcomes, and ensure the long term safety of ivf patients. Develop direct business relationships with specialty pharmacies so as to generate specialty pharmacy patient data from across varied demographic plains in order to provide the foundation timely data on protocols, trends, prescribing practices and many other potentially valuable facets of information to be used to enhance patient outcomes and research protocols.

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IRS990/MissionDesc0SEE ATTACHED SCHEDULE O, NO.08
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IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt031813
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt086462
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0118275
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IRS990/OtherExpensesGrp/Desc1SHIPPING EXPENSES
IRS990/OtherExpensesGrp/Desc2TELEPHONE
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt12319
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt26639
IRS990/OtherExpensesGrp/ProgramServicesAmt059875
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IRS990/OtherExpensesGrp/ProgramServicesAmt22567586
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IRS990/OtherExpensesGrp/TotalAmt210357
IRS990/OtherExpensesGrp/TotalAmt32567586
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IRS990/OtherSalariesAndWagesGrp/TotalAmt02027458
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IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt017130985
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3SEE SUPPLEMENTAL INFORMATION
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt4SEE SUPPLEMENTAL INFORMATION
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt5SUMMIT - SEE SUPPLEMENTAL INFORMATION
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt6SOLAIRE-SEE SUPPLEMENTAL INFORMATION
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt7NATURAL IVF-SEE SUPPLEMENTAL INFORMATION
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt8VITAMIN D STUDY - SEE SUPPLEMENTAL INFO
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IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3UNIV OF IOWA
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt4RUTGERS ROBERT WOOD JOHNSON
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IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt3200 HAWKINS DRIVE
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IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt8140 ALLEN RD
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