Civic Intelligence

Depart Foundation Inc

990 • Fiscal year 2019 • EIN 46-3650588

Jan 01, 2019 to Dec 31, 2019 • Filed on Jul 15, 2020

29517 Harvester RoadMalibu, CA 90265

(818) 975-2040

Siviq Scores

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

Liabilities / Assets

34th percentile

0.02x

Higher debt load relative to assets than 34% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2019

Net Margin

100th percentile

130%

Higher net margin than 100% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

36th percentile

$0

Higher top officer pay than 36% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

2nd percentile

-45%

Faster asset growth than 2% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2018 to 2019

Assets

Down

$1,942,433

Down $1,593,373 (-45%) from 2018

Net Assets

Down

$1,898,899

Down $1,496,461 (-44%) from 2018

Liabilities

Down

$43,534

Down $96,912 (-69%) from 2018

Revenue

Down

-$687,236

Down $724,924 (-1923%) from 2018

Expenses

Up

$209,420

Up $15,262 (+7.9%) from 2018

Net Income

Down

-$896,656

Down $740,186 (-473%) from 2018

Historical Trend

Balance Sheet Trend

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2013: $1Liabilities 2013: $0Net Assets 2013: $02013Assets 2014: $1,515Liabilities 2014: $543Net Assets 2014: $9722014Assets 2015: $1,461,669Liabilities 2015: $684Net Assets 2015: $1,460,9852015Assets 2016: $3,664,042Liabilities 2016: $0Net Assets 2016: $3,664,0422016Assets 2017: $3,657,542Liabilities 2017: $105,712Net Assets 2017: $3,551,8302017Assets 2018: $3,535,806Liabilities 2018: $140,446Net Assets 2018: $3,395,3602018Assets 2019: $1,942,433Liabilities 2019: $43,534Net Assets 2019: $1,898,8992019Assets 2020: $288,919Liabilities 2020: $31,000Net Assets 2020: $257,9192020Assets 2021: $91,167Liabilities 2021: $69,213Net Assets 2021: $21,9542021

Highlighted filing

2019

Assets$1,942,433
Liabilities$43,534
Net Assets$1,898,899

Operations Trend

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

$4.0M$2.0M$0-$2.0MRevenue 2013: $0Expenses 2013: $0Net Income 2013: $02013Revenue 2014: $128,500Expenses 2014: $127,528Net Income 2014: $9722014Revenue 2015: $1,856,660Expenses 2015: $396,647Net Income 2015: $1,460,0132015Revenue 2016: $2,606,300Expenses 2016: $403,243Net Income 2016: $2,203,0572016Revenue 2017: $224,990Expenses 2017: $337,202Net Income 2017: -$112,2122017Revenue 2018: $37,688Expenses 2018: $194,158Net Income 2018: -$156,4702018Revenue 2019: -$687,236Expenses 2019: $209,420Net Income 2019: -$896,6562019Revenue 2020: -$1,517,085Expenses 2020: $123,895Net Income 2020: -$1,640,9802020Revenue 2021: $1,675Expenses 2021: $72,671Net Income 2021: -$70,9962021

Highlighted filing

2019

Revenue-$687,236
Expenses$209,420
Net Income-$896,656
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Jul 15, 2020
Return Version
2019v5.0
Gross Receipts
$317,764
Mission and Program Overview

Mission

1. Specifically to promote interest in contemporary art, design, architecture and sciences. 2. In furtherance of the above to make contribution of funds to nonprofit and charitable organizations in the united states and italy, which is dedicated in the development of contemporary artists. 3. To provide grants for research, solicit and collect funds and engage in activities, such as the holding of symposia and informational gatherings for prospective contemporary artists interested in departing from their previous endeavors or predecessors, in order to cultivate, develop and further the knowledge and awareness of non profit and charitable organizations in the united states and italy. 4. To identify strong contemporary artists in the united states and italy for possible enrollment in residency programs. 5. To raise, receive and maintain a fund or funds for, and allocate and apply the principal and income thereof for the advancement of the purposes described above.

1. Specifically to promote interest in contemporary art, design, architecture and sciences. 2. In furtherance of the above to make contribution of funds to nonprofit and charitable organizations in the united states and italy, which is dedicated in the development of contemporary artists. 3. To provide grants for research, solicit and collect funds and engage in activities, such as the holding of symposia and informational gatherings for prospective contemporary artists interested in departing from their previous endeavors or predecessors, in order to cultivate, develop and further the knowledge and awareness of nonprofit and charitable organizations in the united states and italy. 4. To identify strong contemporary artists in the united states and italy for possible enrollment in residency programs. 5. To raise, receive and maintain a fund or funds for, and allocate and apply the principal and income thereof for the advancement of the purposes described above.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts-$8,933-
Total Assets$2,936,001$1,942,433▼ $993,568
Other Assets Total$2,936,001$1,933,500▼ $1,002,501
Liabilities
Other Liabilities$140,446$43,534▼ $96,912
Total Liabilities$140,446$43,534▼ $96,912
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,795,555$1,898,899▼ $896,656
Total Net Assets Fund Balance$2,795,555$1,898,899▼ $896,656
Total Liabilities and Net Assets / Fund Balance$2,936,001$1,942,433▼ $993,568

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings-$26,642$26,642
Other Assets Org$1,933,500--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Pierpaolo BarzanPresident
Claudio BarzanDirector
Valeria SorciDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$-687,342
Other Revenue
$106
Change in Net Assets
$-896,656
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$209,420
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
All Other Expenses$2,444--$2,444
Other Expenses$1,530--$1,530
Total Functional Expenses$209,420$0$0$209,420
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
Loan to Officers$43,534
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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 2

Valeria sorci pierpaolo barzan secretary president spouse

Form 990, Page 6, Part VI, Line 11B

The organization's president of finance and operations reviewed the form 900, compared the information contained on form 990 with the organization's internally generated financial statements.

Form 990, Page 6, Part VI, Line 12C

Compliance with the conflict of interest policy is monitored on a regular basis with all members of the organization (including, but not limited to, an employee handbook, staff meetings, and annual questionnaires to board members).

Form 990, Page 6, Part VI, Line 19

The organization makes its governing documents, conflicts of interest policy and financial statements available to the public upon written request and special permission and authorization by its board.

Filing and Contact Details

Filer

Filer Name
Depart Foundation Inc
EIN
46-3650588
Address
29517 HARVESTER ROAD, MALIBU, CA 90265

Signing Officer

Name
Pierpaolo Barzan
Title
President
Signed
2020-07-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Pierpaolo Barzan
Formed
2013
Legal Domicile
De
Voting Board Members
3
Independent Board Members
3
Employees
0

Preparer

Firm
Walters & Sklyar Llp
Address
21031 VENTURA BLVD STE 401, WOODLAND HILLS, CA 91364
Preparer
James F Walters CPA
Phone
8189752040
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

1. Specifically to promote interest in contemporary art,design,architecture and sciences. 2. In furtherance of the above to make contribution of funds to non profit and charitable organizations in the united states and italy, which is dedicated in the development of contemporary artists. 3. To provide grants for research,solicit and collect funds and engage in activities, such as the holding of symposia and informational gatherings for prospective contemporary artists interested in departing from their previous endeavors or predecessors, in order to cultivate, develop and further the knowledge and awareness of non profit and charitable organizations in the united states and italy. 4. To identify strong contemporary artists in the united states and italy for possible enrollment in residency programs. 5. To raise, receive and maintain a fund or funds for, and allocate and apply the principal and income there of for the advancement of the purposes described above

Form 990, Page 2, Part III, Line 4A

To manage and conduct specifically to promote interest in contemporary art, design, architecture and sciences, in furtherance of the above to make contribution of funds to nonprofit and charitable organizations in the united states and italy, which is dedicated in the development of contemporary artists. To provide grants for research, solicit and collect funds and engage in activities, such as the holding of symposia and informational gatherings for prospective contemporary artists interested in departing from their previous endeavors or predecessors, in order to cultivate, develop and further the knowledge and awareness of nonprofit and charitable organizations in the united states and italy. To identify strong contemporary artists in the united states and italy for possible enrollment in residency programs to raise, receive and maintain a fund or funds for, and allocate and apply the principal and income thereof for the advancement of the purposes described above.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt01. SPECIFICALLY TO PROMOTE INTEREST IN CONTEMPORARY ART,DESIGN,ARCHITECTURE AND SCIENCES. 2. IN FURTHERANCE OF THE ABOVE TO MAKE CONTRIBUTION OF FUNDS TO NON PROFIT AND CHARITABLE ORGANIZATIONS IN THE UNITED STATES AND ITALY, WHICH IS DEDICATED IN THE DEVELOPMENT OF CONTEMPORARY ARTISTS. 3. TO PROVIDE GRANTS FOR RESEARCH,SOLICIT AND COLLECT FUNDS AND ENGAGE IN ACTIVITIES, SUCH AS THE HOLDING OF SYMPOSIA AND INFORMATIONAL GATHERINGS FOR PROSPECTIVE CONTEMPORARY ARTISTS INTERESTED IN DEPARTING FROM THEIR PREVIOUS ENDEAVORS OR PREDECESSORS, IN ORDER TO CULTIVATE, DEVELOP AND FURTHER THE KNOWLEDGE AND AWARENESS OF NON PROFIT AND CHARITABLE ORGANIZATIONS IN THE UNITED STATES AND ITALY. 4. TO IDENTIFY STRONG CONTEMPORARY ARTISTS IN THE UNITED STATES AND ITALY FOR POSSIBLE ENROLLMENT IN RESIDENCY PROGRAMS. 5. TO RAISE, RECEIVE AND MAINTAIN A FUND OR FUNDS FOR, AND ALLOCATE AND APPLY THE PRINCIPAL AND INCOME THERE OF FOR THE ADVANCEMENT OF THE PURPOSES DESCRIBED ABOVE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1TO MANAGE AND CONDUCT SPECIFICALLY TO PROMOTE INTEREST IN CONTEMPORARY ART, DESIGN, ARCHITECTURE AND SCIENCES, IN FURTHERANCE OF THE ABOVE TO MAKE CONTRIBUTION OF FUNDS TO NONPROFIT AND CHARITABLE ORGANIZATIONS IN THE UNITED STATES AND ITALY, WHICH IS DEDICATED IN THE DEVELOPMENT OF CONTEMPORARY ARTISTS. TO PROVIDE GRANTS FOR RESEARCH, SOLICIT AND COLLECT FUNDS AND ENGAGE IN ACTIVITIES, SUCH AS THE HOLDING OF SYMPOSIA AND INFORMATIONAL GATHERINGS FOR PROSPECTIVE CONTEMPORARY ARTISTS INTERESTED IN DEPARTING FROM THEIR PREVIOUS ENDEAVORS OR PREDECESSORS, IN ORDER TO CULTIVATE, DEVELOP AND FURTHER THE KNOWLEDGE AND AWARENESS OF NONPROFIT AND CHARITABLE ORGANIZATIONS IN THE UNITED STATES AND ITALY. TO IDENTIFY STRONG CONTEMPORARY ARTISTS IN THE UNITED STATES AND ITALY FOR POSSIBLE ENROLLMENT IN RESIDENCY PROGRAMS TO RAISE, RECEIVE AND MAINTAIN A FUND OR FUNDS FOR, AND ALLOCATE AND APPLY THE PRINCIPAL AND INCOME THEREOF FOR THE ADVANCEMENT OF THE PURPOSES DESCRIBED ABOVE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2VALERIA SORCI PIERPAOLO BARZAN SECRETARY PRESIDENT SPOUSE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION'S PRESIDENT OF FINANCE AND OPERATIONS REVIEWED THE FORM 900, COMPARED THE INFORMATION CONTAINED ON FORM 990 WITH THE ORGANIZATION'S INTERNALLY GENERATED FINANCIAL STATEMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY IS MONITORED ON A REGULAR BASIS WITH ALL MEMBERS OF THE ORGANIZATION (INCLUDING, BUT NOT LIMITED TO, AN EMPLOYEE HANDBOOK, STAFF MEETINGS, AND ANNUAL QUESTIONNAIRES TO BOARD MEMBERS).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST AND SPECIAL PERMISSION AND AUTHORIZATION BY ITS BOARD.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0WALTERS & SKLYAR LLP
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ReturnHeader/PreparerPersonGrp/PreparationDt02020-06-29
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