Civic Intelligence

Pivot Works Inc

990 • Fiscal year 2016 • EIN 46-3075530

Jan 01, 2016 to Dec 31, 2016 • Filed on Oct 06, 2017

800 Boylston Street Suite 300Boston, MA 02199

(607) 280-8594

Siviq Scores

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

Liabilities / Assets

55th percentile

0.13x

Higher debt load relative to assets than 55% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

43rd percentile

0.07x

Higher debt load relative to revenue than 43% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

38th percentile

-1.0%

Higher net margin than 38% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

65th percentile

$92,050

Higher top officer pay than 65% of similar nonprofits.

Top officer pay equals 2.5% of source-year revenue.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

66th percentile

6.8%

Faster asset growth than 66% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

75th percentile

18%

Faster revenue growth than 75% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Assets

Up

$2,048,314

Up $129,610 (+6.8%) from 2015

Net Assets

Down

$1,775,351

Down $8,667 (-0.5%) from 2015

Liabilities

Up

$272,963

Up $138,277 (+103%) from 2015

Revenue

Up

$3,722,220

Up $570,946 (+18%) from 2015

Expenses

Up

$3,760,233

Up $1,066,857 (+40%) from 2015

Net Income

Down

-$38,013

Down $495,911 (-108%) from 2015

Historical Trend

Balance Sheet Trend

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2013: $411,108Liabilities 2013: $8,207Net Assets 2013: $402,9012013Assets 2014: $1,419,923Liabilities 2014: $54,188Net Assets 2014: $1,365,7352014Assets 2015: $1,918,704Liabilities 2015: $134,686Net Assets 2015: $1,784,0182015Assets 2016: $2,048,314Liabilities 2016: $272,963Net Assets 2016: $1,775,3512016Assets 2017: $2,436,930Liabilities 2017: $235,496Net Assets 2017: $2,201,4342017Assets 2018: $3,454,162Liabilities 2018: $153,351Net Assets 2018: $3,300,8112018Assets 2019: $3,718,461Liabilities 2019: $313,347Net Assets 2019: $3,405,1142019Assets 2020: $4,404,522Liabilities 2020: $479,678Net Assets 2020: $3,924,8442020Assets 2021: $5,227,155Liabilities 2021: $576,131Net Assets 2021: $4,651,0242021Assets 2022: $6,495,988Liabilities 2022: $551,865Net Assets 2022: $5,944,1232022Assets 2023: $5,652,797Liabilities 2023: $832,891Net Assets 2023: $4,819,9062023

Highlighted filing

2016

Assets$2,048,314
Liabilities$272,963
Net Assets$1,775,351

Operations Trend

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

$10M$5.0M$0-$5.0MRevenue 2013: $471,200Expenses 2013: $68,299Net Income 2013: $402,9012013Revenue 2014: $2,606,376Expenses 2014: $1,666,274Net Income 2014: $940,1022014Revenue 2015: $3,151,274Expenses 2015: $2,693,376Net Income 2015: $457,8982015Revenue 2016: $3,722,220Expenses 2016: $3,760,233Net Income 2016: -$38,0132016Revenue 2017: $3,807,606Expenses 2017: $3,660,776Net Income 2017: $146,8302017Revenue 2018: $5,179,878Expenses 2018: $4,083,203Net Income 2018: $1,096,6752018Revenue 2019: $6,096,067Expenses 2019: $5,951,595Net Income 2019: $144,4722019Revenue 2020: $4,030,848Expenses 2020: $3,466,737Net Income 2020: $564,1112020Revenue 2021: $6,969,114Expenses 2021: $6,168,603Net Income 2021: $800,5112021Revenue 2022: $7,578,476Expenses 2022: $6,182,563Net Income 2022: $1,395,9132022Revenue 2023: $6,497,303Expenses 2023: $7,667,321Net Income 2023: -$1,170,0182023

Highlighted filing

2016

Revenue$3,722,220
Expenses$3,760,233
Net Income-$38,013
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Oct 6, 2017
Return Version
2016v3.0
Gross Receipts
$3,722,220
Mission and Program Overview

Mission

We are a madagascar-based organization partnering with the government to transform the local health system and provide a model for the integration of service delivery and science to meet the needs of the most vulnerable populations to reduce maternal and child mortality.

Pivot's mission is based on a fundamental belief in the worth of all people and a moral responsibility to address the needs of the destitute. The goal is to create a model system of universal access to quality health care for the rural poor of madagascar.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,545,520$1,566,731▲ $21,211
Land, Buildings, and Equipment, Net$221,725$143,372▼ $78,353
Prepaid Expenses and Deferred Charges$70,017$110,925▲ $40,908
Investments Other Securities-$100,259-
Other Notes and Loans Receivable, Net$9,568$8,539▼ $1,029
Total Assets$1,918,704$2,048,314▲ $129,610
Other Assets Total$71,874$118,488▲ $46,614
Liabilities
Other Liabilities$125,732$164,120▲ $38,388
Accounts Payable and Accrued Expenses$8,954$81,802▲ $72,848
Grants Payable-$27,041-
Total Liabilities$134,686$272,963▲ $138,277
Net Assets / Fund Balance
Unrestricted Net Assets$1,784,018$1,775,351▼ $8,667
Total Net Assets Fund Balance$1,784,018$1,775,351▼ $8,667
Total Liabilities and Net Assets / Fund Balance$1,918,704$2,048,314▲ $129,610

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$128,858$301,588$430,446
Other Land Buildings$14,514$16,925$31,439
Other Assets Org$17,244--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Robert CunninghamChief Development DirectorFT$92,050$92,050
Lara HallMedical DirectorFT$80,000$80,000
Hassan BouzianeOperations DirectorFT$55,000$55,000
Benjamin AndriamihajaBoard MemberPT$45,000$45,000
Mohammed Ali OuenzarCountry DirectorFT$23,000$23,000
Tara LoydCo-chief Executive OfficerPT$16,385$16,385

Board Members and Trustees

NameTitle
James HerrnsteinBoard Chair, Executive Committee Member
Ed NortonDevelopment Committee Chair
Cassia Van Der Hoof HolsteinBoard Member
Manu Prakash- Joined Dec 2016Board Member
Patricia WrightBoard Member
Paul FarmerBoard Member
Stephen DellapietraBoard Member
Tom GillespieBoard Member
Vincent DellapietraBoard Member
Bob HowerDevelopment Committee
Matthew BondsExecutive Committee Member
Michael RichExecutive Committee Member
Robin HerrnsteinExecutive Committee Member, Development Committee
Revenue and Support

Revenue Composition

Contributions and Grants
$3,721,369
Program Service Revenue
$0
Investment Income
$851
Other Revenue
$0
All Other Contributions
$3,721,369
Change in Net Assets
$-38,013

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded6$255,514Fair Market Value (FMV) at Transfer
Securities Closely Held Stock6$100,259Third Party Valuation
Total Noncash Contributions12$355,773-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,282,417
Salaries, Compensation, and Employee Benefits$1,477,816
Total Fundraising Expense$357,211
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$817,118$17,677$65,904$900,699
All Other Expenses$462,879$10,787$10,663$484,329
Current Officers, Directors, Trustees, and Key Employees$214,470$4,915$92,050$311,435
Other Employee Benefits$179,974$57,069$28,639$265,682
Travel$136,159$56,872$33,646$226,677
Office Expenses$136,007$9,318$38,353$183,678
Other Expenses$183,111--$183,111
Fees for Services Management$89,931$25,685$42,950$158,566
Fees for Services Other$67,873$56,512$28,034$152,419
Depreciation Depletion$98,511$389-$98,900
Occupancy$80,719$11,004$2,477$94,200
Conferences and Meetings$6,445$10,868$14,205$31,518
Fees for Services Accounting-$14,013-$14,013
Information Technology$10,293-$290$10,583
Insurance$398$5,522-$5,920
Total Functional Expenses$3,122,391$280,631$357,211$3,760,233
International Activity

International Summary

Offices
4
Employees
133
Spending
$3,134,851

International Compliance

Foreign grant records maintained
No
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
MadagascarMadagascar Program Service and Research Program.PIVOT COMBINES A MORAL AGENDA OF RIGHTS-BASED HEALTH CARE WITH THE PRACTICAL GOALS OF HEALTH SYSTEM STRENGTHENING (HSS) AT THREE CRITICAL LEVELS OF THE HEALTH SYSTEM: COMMUNITY HEALTH WORKERS, HEALTH CENTERS, AND DISTRICT HOSPITALS. SUBSTANTIAL RESOURCES ARE DEDICATED TO STRENGTHENING AND MAINTAINING ESSENTIAL HEALTH SYSTEM INFRASTRUCTURE, SUCH AS MEDICAL FACILITIES, EQUIPMENT, PERSONNEL, AMBULANCES, AND DISPENSARIES.BASELINE IS A RESEARCH PROGRAM THAT FOCUSES ON MEASURING THE DISEASE BURDEN IN THE POPULATION OUTSIDE OF THE HEALTH FACILITIES. IN SOME INSTANCES, THE RESEARCH EFFORTS ARE ALSO DIRECTED TO BASIC SCIENCE QUESTIONS THAT HAVE LONG-TERM POTENTIAL TO CONTRIBUTE TO A BASIC UNDERSTANDING OF UNDERLYING CAUSES OF POVERTY AND DISEASE.4133$3,134,851
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Expense Reserves$164,120
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
Yes
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

Form 990, Part VI, Section A, Line 2

James herrnstein (director) and robin herrnstein (director) are husband and wife.

Form 990, Part VI, Section B, Line 11B

The return is reviewed by the governing body.

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

The staff and related personnel of pivot works inc. Are required to self-disclose any possible conflict of interest. When such an issue arises, it will be brought up to officer's attention and to board meeting for discussion. Any necessary actions illustrated on the conflict of interest policy of pivot work inc. Will be taken.

Form 990, Part VI, Section B, Line 15

Pivot works inc. Developed its compensation scale via resources provided by third party hr service company, as well as discussion among its governing board members. Ceo, officers and employees were paid based on their experience and education qualifications.

Form 990, Part VI, Section C, Line 19

The governing documents of pivot works, inc. Are available to the public through the massachusetts secretary of state's office and the charities division of the attorney general of massachusetts. The conflict of interest and financial statements are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Pivot Works Inc
EIN
46-3075530
Phone
6072808594
Address
800 BOYLSTON STREET SUITE 300, BOSTON, MA 02199

Signing Officer

Name
Tara Loyd
Title
Co-chief Executive Officer
Phone
8597970719
Signed
2017-10-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tara Loyd
Formed
2013
Legal Domicile
Ma
Voting Board Members
15
Independent Board Members
14
Employees
9
Volunteers
0

Preparer

Firm
Tyler Lynch Pc
Address
186 ALEWIFE BROOK PARKWAY STE 200, CAMBRIDGE, MA 02138-1134
Preparer
John a Tyler
Phone
6173543814
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24E

Payroll tax: program service expenses 158,115. Management and general expenses 6,756. Fundraising expenses 10,574. Total expenses 175,445. Social care for patients: program service expenses 96,704. Management and general expenses 0. Fundraising expenses 0. Total expenses 96,704. Recruitment and training: program service expenses 59,373. Management and general expenses 4,031. Fundraising expenses 29. Total expenses 63,433. Renovation expense: program service expenses 55,141. Management and general expenses 0. Fundraising expenses 0. Total expenses 55,141. Pivot donation: program service expenses 47,136. Management and general expenses 0. Fundraising expenses 0. Total expenses 47,136. Housing and relocation: program service expenses 31,811. Management and general expenses 0. Fundraising expenses 0. Total expenses 31,811. Emergency fund reserve: program service expenses 12,357. Management and general expenses 0. Fundraising expenses 0. Total expenses 12,357. Miscellaneous expense: program service expenses 2,242. Management and general expenses 0. Fundraising expenses 60. Total expenses 2,302.

FORM 990, PART XI, LINE 9:

Non-operating gain on foreign currency exchange 29,345.

Form 8938 Part V Question 6

The current foreign currency for madagascar is malagasy ariary (mga), but it is not included in the drop down list, so madagascar franc (mgf) was entered.

Financial Statement Notes

PART X, LINE 2:

For the year ended december 31, 2015, the organization has documented its consideration of fasb asc 740-10 and determined that no material uncertain tax positions qualify for either recognition or disclosure in the financial statements.

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IRS990/Desc0PIVOT WORKS, INC. HAS A MAJOR PROGRAM WHICH IS THE MADAGASCAR PROGRAM. IN MADAGASCAR, PIVOT COMBINES A MORAL AGENDA OF RIGHTS-BASED HEALTH CARE WITH THE PRACTICAL GOALS OF HEALTH SYSTEM STRENGTHENING (HSS) AT THREE CRITICAL LEVELS OF THE HEALTH SYSTEM: COMMUNITY HEALTH WORKERS, HEALTH CENTERS, AND DISTRICT HOSPITALS. SUBSTANTIAL RESOURCES ARE DEDICATED TO STRENGTHENING AND MAINTAINING ESSENTIAL HEALTH SYSTEM INFRASTRUCTURE, SUCH AS MEDICAL FACILITIES, EQUIPMENT, PERSONNEL, AMBULANCES, AND DISPENSARIES.
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IRS990/MissionDesc0PIVOT'S MISSION IS BASED ON A FUNDAMENTAL BELIEF IN THE WORTH OF ALL PEOPLE AND A MORAL RESPONSIBILITY TO ADDRESS THE NEEDS OF THE DESTITUTE. THE GOAL IS TO CREATE A MODEL SYSTEM OF UNIVERSAL ACCESS TO QUALITY HEALTH CARE FOR MADAGASCAR VIA COMPREHENSIVE HEALTH SYSTEM STRENGTHENING IN A REGION NEAR RANOMAFANA NATIONAL PARK. PIVOT WILL TAKE A HIGHLY RIGOROUS APPROACH, CAREFULLY MEASURING COSTS AND IMPACTS, ENGAGING IN RELEVANT SCIENTIFIC RESEARCH, AND CONTINUOUSLY EVALUATING THE EFFECTIVENESS OF ITS METHODS. IN DOING SO, PIVOT STRIVES TO FURTHER THE UNDERSTANDING OF HOW TO EFFECTIVELY BREAK CYCLES OF POVERTY AND DISEASE.
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