Civic Intelligence

Clearpath Foundation Inc

990 • Fiscal year 2014 • EIN 46-3891359

Jan 01, 2014 to Dec 31, 2014 • Filed on Nov 13, 2015

1355 Greenwood Cliff Drive Ste 301Charlotte, NC 28204

(704) 945-0487

Siviq Scores

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

Liabilities / Assets

5th percentile

0.00x

Higher debt load relative to assets than 5% of similar nonprofits.

2014 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2014

Liabilities / Revenue

3rd percentile

0.00x

Higher debt load relative to revenue than 3% of similar nonprofits.

2014 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2014

Net Margin

99th percentile

100%

Higher net margin than 99% of similar nonprofits.

2014 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2014

Top Officer Pay

4th percentile

$110,000

Higher top officer pay than 4% of similar nonprofits.

Top officer pay equals 0.1% of source-year revenue.

2014 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2014

Asset Growth

100th percentile

16588579300%

Faster asset growth than 100% of similar nonprofits.

2014 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2013 to 2014

Revenue Growth

Score unavailable

No value available

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

Annualized from 2013 to 2014

Assets

Up

$165,885,794

Up $165,885,793 (+16588579300%) from 2013

Net Assets

$165,358,167

No earlier filing loaded for comparison.

Liabilities

Up

$527,627

Up $527,627 from 2013

Revenue

Up

$165,599,943

Up $165,599,943 from 2013

Expenses

Up

$241,776

Up $241,776 from 2013

Net Income

Up

$165,358,167

Up $165,358,167 from 2013

Historical Trend

Balance Sheet Trend

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

$200M$150M$100M$50M$0Assets 2013: $1Liabilities 2013: $02013Assets 2014: $165,885,794Liabilities 2014: $527,627Net Assets 2014: $165,358,1672014Assets 2015: $161,923,207Liabilities 2015: $21,077Net Assets 2015: $161,902,1302015Assets 2016: $158,459,709Liabilities 2016: $510,636Net Assets 2016: $157,949,0732016Assets 2017: $164,364,006Liabilities 2017: $71,890Net Assets 2017: $164,292,1162017Assets 2018: $143,472,057Liabilities 2018: $176,782Net Assets 2018: $143,295,2752018Assets 2019: $154,056,662Liabilities 2019: $312,319Net Assets 2019: $153,744,3432019Assets 2020: $147,048,612Liabilities 2020: $622,831Net Assets 2020: $146,425,7812020Assets 2021: $132,102,350Liabilities 2021: $345,292Net Assets 2021: $131,757,0582021Assets 2022: $107,868,029Liabilities 2022: $185,087Net Assets 2022: $107,682,9422022Assets 2023: $100,049,962Liabilities 2023: $399,218Net Assets 2023: $99,650,7442023Assets 2024: $90,780,888Liabilities 2024: $107,519Net Assets 2024: $90,673,3692024

Highlighted filing

2014

Assets$165,885,794
Liabilities$527,627
Net Assets$165,358,167

Operations Trend

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

$200M$150M$100M$50M$0-$50MRevenue 2013: $0Expenses 2013: $0Net Income 2013: $02013Revenue 2014: $165,599,943Expenses 2014: $241,776Net Income 2014: $165,358,1672014Revenue 2015: $5,284,086Expenses 2015: $17,277,505Net Income 2015: -$11,993,4192015Revenue 2016: $8,818,559Expenses 2016: $12,706,630Net Income 2016: -$3,888,0712016Revenue 2017: $783,835Expenses 2017: $12,231,863Net Income 2017: -$11,448,0282017Revenue 2018: $5,370,855Expenses 2018: $13,731,407Net Income 2018: -$8,360,5522018Revenue 2019: -$396,101Expenses 2019: $14,375,568Net Income 2019: -$14,771,6692019Revenue 2020: $13,339,292Expenses 2020: $22,299,480Net Income 2020: -$8,960,1882020Revenue 2021: $2,340,203Expenses 2021: $20,966,936Net Income 2021: -$18,626,7332021Revenue 2022: -$421,090Expenses 2022: $17,286,494Net Income 2022: -$17,707,5842022Revenue 2023: $392,925Expenses 2023: $16,517,816Net Income 2023: -$16,124,8912023Revenue 2024: $805,127Expenses 2024: $14,695,873Net Income 2024: -$13,890,7462024

Highlighted filing

2014

Revenue$165,599,943
Expenses$241,776
Net Income$165,358,167
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Nov 13, 2015
Return Version
2014v5.0
Gross Receipts
$165,599,943
Mission and Program Overview

Mission

Accelerate america's clean energy future with conservative solutions.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$0$165,358,167▲ $165,358,167
Investments Other Securities$0$97,760,957▲ $97,760,957
Investments in Publicly Traded Securities-$35,554,299-
Cash and Non-Interest-Bearing Accounts$0$28,446,298▲ $28,446,298
Savings and Temporary Cash Investments$0$3,046,860▲ $3,046,860
Loans From Officers Directors$0$521,463▲ $521,463
Land, Buildings, and Equipment, Net$0$435,724▲ $435,724
Intangible Assets$0$425,263▲ $425,263
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$0$165,885,794▲ $165,885,794
Other Assets Total$0$216,393▲ $216,393
Liabilities
Other Liabilities$0$6,164▲ $6,164
Total Liabilities$0$527,627▲ $527,627
Net Assets / Fund Balance
Total Net Assets Fund Balance$0$165,358,167▲ $165,358,167
Total Liabilities and Net Assets / Fund Balance$0$165,885,794▲ $165,885,794

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$177,635$34,527$212,162
Leasehold Improvements$197,606$7,483$205,089
Equipment$60,483$15,848$76,331
Other Securities$97,760,957--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Richard PowellCOOFT$55,000$55,000$110,000

Board Members and Trustees

NameTitle
Jay W FaisonPresident
Dana E RingBoard Member
Holly Welch StubbingBoard Member
Robert M PerkowitzBoard Member
Sean M SmithBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$165,599,943
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$165,599,943
Change in Net Assets
$165,358,167

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
Secur Prtnrshp Trust Intrsts2$163,087,440Fair Market Value
Total Noncash Contributions2$163,087,440-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$226,047
Other Expenses$15,729
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$153,489-$153,489
Current Officers, Directors, Trustees, and Key Employees-$55,000-$55,000
Payroll Taxes-$17,558-$17,558
Fees for Service Investment Mgmnt Fees-$12,500-$12,500
Insurance-$2,850-$2,850
Fees for Services Other-$354-$354
Other Expenses-$25-$25
Total Functional Expenses$0$241,776$0$241,776
International Activity

International Summary

Offices
0
Employees
0
Spending
$13,836,668

International Compliance

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

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the CaribbeanInvestment in Passive Foreign Investment CompaniesN/a00$13,836,668
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
Loans from Officers, Directors, Trustees, and Key Employees$0$521,463▲ $521,463
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Credit Card$6,164
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
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 B, Line 11

The form 990 is reviewed by select officers and members of the board of directors and a copy is available upon request to the board of directors.

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

Management monitors conflict of interest through a monthly evaluation of all organization initiatives against our approved strategic plan. Initiatives are evaluated for impact against our strategic plan which is updated and presented at quarterly board meetings. Board members have the opportunity to evaluate all financial and business dealings that support the organization activities.

Form 990, Part VI, Section B, Line 15

Clearpath leverages market data and internal processes to evaluate and determine compensation for management and officers. More specifically, the organization leverages comparable data provided by our executive search consultant(s) as well as conducting primary research on comparable data in similar ngo organizations. Compensation is evaluated semi-annually. All management and officer compensation packages are evaluated by management and presented to our board of directors when changes in compensation occur.

Form 990, Part VI, Section C, Line 19

The organization's documents are available upon request.

Filing and Contact Details

Filer

Filer Name
Clearpath Foundation Inc
EIN
46-3891359
Phone
7049450487
Address
1355 GREENWOOD CLIFF DRIVE STE 301, CHARLOTTE, NC 28204

Signing Officer

Name
Jay W Faison
Title
President
Phone
7049450487
Signed
2015-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jay W Faison
Formed
2013
Legal Domicile
Nc
Voting Board Members
5
Independent Board Members
4
Employees
7
Volunteers
0

Preparer

Firm
Greerwalker Llp
Address
227 WEST TRADE ST SUITE 1100, CHARLOTTE, NC 28202
Preparer
Sandi O Thorman
Phone
7043770239
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
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IRS990ScheduleD/DisclosedForCharitablePrpsInd01
IRS990ScheduleD/DisclosedOrgLegCtrlInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt060483
IRS990ScheduleD/EquipmentGrp/DepreciationAmt015848
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt076331
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0197606
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt07483
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0205089
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0177635
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt034527
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0212162
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt06164
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CREDIT CARD
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt097760957
IRS990ScheduleD/OtherSecuritiesGrp/Desc0INVESTMENTS IN VARIOUS NON-PUBLICLY TRADED PARTNERSHIPS AND CORPORATIONS
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0F
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0435724
IRS990ScheduleD/TotalBookValueSecuritiesAmt097760957
IRS990ScheduleD/TotalLiabilityAmt06164
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/EmployeeCnt00
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/OfficesCnt00
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt013836668
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt0CENTRAL AMERICA AND THE CARIBBEAN
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt0N/A
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt0INVESTMENT IN PASSIVE FOREIGN INVESTMENT COMPANIES
IRS990ScheduleF/BoycottCountriesInd00
IRS990ScheduleF/ContinuationSpentAmt00
IRS990ScheduleF/ContinutationTotalEmployeeCnt00
IRS990ScheduleF/ContinutationTotalOfficeCnt00
IRS990ScheduleF/ForeignCorpOwnershipInd00
IRS990ScheduleF/ForeignPartnershipInd00
IRS990ScheduleF/InterestInForeignTrustInd00
IRS990ScheduleF/PassiveForeignInvestmestCoInd01
IRS990ScheduleF/SubtotalEmployeesCnt00
IRS990ScheduleF/SubtotalOfficesCnt00
IRS990ScheduleF/SubtotalSpentAmt013836668
IRS990ScheduleF/TotalEmployeeCnt00
IRS990ScheduleF/TotalOfficeCnt00
IRS990ScheduleF/TotalSpentAmt013836668
IRS990ScheduleF/TransferToForeignCorpInd00
IRS990/ScheduleJRequiredInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt0521463
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd01
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0DUE FROM SPARK HOLDINGS, LLC (SMLLC)
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt0521463
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0JAY FAISON
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0OFFICER/DIRECTOR
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd00
IRS990ScheduleL/TotalBalanceDueAmt0521463
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd00
IRS990ScheduleM/Form8283ReceivedCnt00
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd00
IRS990ScheduleM/SecurPrtnrshpTrustIntrstsGrp/ContributionCnt02
IRS990ScheduleM/SecurPrtnrshpTrustIntrstsGrp/MethodOfDeterminingRevenuesTxt0FAIR MARKET VALUE
IRS990ScheduleM/SecurPrtnrshpTrustIntrstsGrp/NonCashCheckboxInd0X
IRS990ScheduleM/SecurPrtnrshpTrustIntrstsGrp/NoncashContributionsRptF990Amt0163087440
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 IS REVIEWED BY SELECT OFFICERS AND MEMBERS OF THE BOARD OF DIRECTORS AND A COPY IS AVAILABLE UPON REQUEST TO THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MANAGEMENT MONITORS CONFLICT OF INTEREST THROUGH A MONTHLY EVALUATION OF ALL ORGANIZATION INITIATIVES AGAINST OUR APPROVED STRATEGIC PLAN. INITIATIVES ARE EVALUATED FOR IMPACT AGAINST OUR STRATEGIC PLAN WHICH IS UPDATED AND PRESENTED AT QUARTERLY BOARD MEETINGS. BOARD MEMBERS HAVE THE OPPORTUNITY TO EVALUATE ALL FINANCIAL AND BUSINESS DEALINGS THAT SUPPORT THE ORGANIZATION ACTIVITIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CLEARPATH LEVERAGES MARKET DATA AND INTERNAL PROCESSES TO EVALUATE AND DETERMINE COMPENSATION FOR MANAGEMENT AND OFFICERS. MORE SPECIFICALLY, THE ORGANIZATION LEVERAGES COMPARABLE DATA PROVIDED BY OUR EXECUTIVE SEARCH CONSULTANT(S) AS WELL AS CONDUCTING PRIMARY RESEARCH ON COMPARABLE DATA IN SIMILAR NGO ORGANIZATIONS. COMPENSATION IS EVALUATED SEMI-ANNUALLY. ALL MANAGEMENT AND OFFICER COMPENSATION PACKAGES ARE EVALUATED BY MANAGEMENT AND PRESENTED TO OUR BOARD OF DIRECTORS WHEN CHANGES IN COMPENSATION OCCUR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION'S DOCUMENTS ARE AVAILABLE 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 B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt0CLEARPATH FOUNDATION INC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0SPARK HOLDINGS LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN0454359460
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IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd0NC
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0INVESTMENT
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IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm0CHARLOTTE
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IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt00
IRS990/TotalAssetsEOYAmt0165885794
IRS990/TotalAssetsGrp/BOYAmt00
IRS990/TotalAssetsGrp/EOYAmt0165885794
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0165599943
IRS990/TotalEmployeeCnt07
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0241776
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0241776
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IRS990/TotalLiabilitiesGrp/EOYAmt0527627
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0165358167
IRS990/TotalOtherCompensationAmt00
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IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0165599943
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt00
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IRS990/TotReportableCompRltdOrgAmt055000
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01355 GREENWOOD CLIFF DRIVE STE 301
IRS990/USAddress/CityNm0CHARLOTTE
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028204
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0CLEARPATH.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02016-04-25 22:37:26Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JAY W FAISON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07049450487
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-11-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CLEARPATH FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0CLEA
ReturnHeader/Filer/EIN0463891359

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