Civic Intelligence

The International Consortium of Minority Cybersecurity Professionals

990 • Fiscal year 2023 • EIN 46-5596141

Jan 01, 2023 to Dec 31, 2023 • Filed on Apr 10, 2024

401 Edgewater Place 600Wakefield, MA 01880

(781) 246-0500

Siviq Scores

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

Liabilities / Assets

81st percentile

0.31x

Higher debt load relative to assets than 81% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

72nd percentile

0.14x

Higher debt load relative to revenue than 72% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Net Margin

5th percentile

-70%

Higher net margin than 5% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

54th percentile

$0

Higher top officer pay than 54% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Asset Growth

2nd percentile

-63%

Faster asset growth than 2% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

10th percentile

-37%

Faster revenue growth than 10% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Assets

Down

$260,713

Down $441,517 (-63%) from 2022

Net Assets

Down

$179,574

Down $410,138 (-70%) from 2022

Liabilities

Down

$81,139

Down $31,379 (-28%) from 2022

Revenue

Down

$583,736

Down $337,075 (-37%) from 2022

Expenses

Up

$993,874

Up $156,542 (+19%) from 2022

Net Income

Down

-$410,138

Down $493,617 (-591%) from 2022

Historical Trend

Balance Sheet Trend

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

$800K$600K$400K$200K$0-$200KAssets 2014: $500Liabilities 2014: $0Net Assets 2014: $5002014Assets 2017: $19,924Liabilities 2017: $31,941Net Assets 2017: -$12,0172017Assets 2018: $334,245Liabilities 2018: $2,689Net Assets 2018: $331,5562018Assets 2019: $181,235Liabilities 2019: $46,000Net Assets 2019: $135,2352019Assets 2020: $378,108Liabilities 2020: $2,326Net Assets 2020: $375,7822020Assets 2021: $562,705Liabilities 2021: $56,472Net Assets 2021: $506,2332021Assets 2022: $702,230Liabilities 2022: $112,518Net Assets 2022: $589,7122022Assets 2023: $260,713Liabilities 2023: $81,139Net Assets 2023: $179,5742023Assets 2024: $406,987Liabilities 2024: $38,282Net Assets 2024: $368,7052024

Highlighted filing

2023

Assets$260,713
Liabilities$81,139
Net Assets$179,574

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2014: $0Expenses 2014: $6,400Net Income 2014: -$6,4002014Revenue 2017: $207,945Expenses 2017: $269,731Net Income 2017: -$61,7862017Revenue 2018: $344,684Expenses 2018: $243,590Net Income 2018: $101,0942018Revenue 2019: $424,933Expenses 2019: $332,475Net Income 2019: $92,4582019Revenue 2020: $447,328Expenses 2020: $206,781Net Income 2020: $240,5472020Revenue 2021: $569,541Expenses 2021: $439,090Net Income 2021: $130,4512021Revenue 2022: $920,811Expenses 2022: $837,332Net Income 2022: $83,4792022Revenue 2023: $583,736Expenses 2023: $993,874Net Income 2023: -$410,1382023Revenue 2024: $735,180Expenses 2024: $546,049Net Income 2024: $189,1312024

Highlighted filing

2023

Revenue$583,736
Expenses$993,874
Net Income-$410,138
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Apr 10, 2024
Return Version
2023v5.0
Gross Receipts
$583,736
Mission and Program Overview

Mission

To achieve the consistent representation of women and minorities in the cybersecurity industry through programs designed to foster recruitment, inclusion and retention one person at a time.

Dedicated to advancing the diversity, inclusion of women and minorities in the practice and science of cybersecurity.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$396,431$188,119▼ $208,312
Savings and Temporary Cash Investments$148,862$0▼ $148,862
Accounts Receivable$135,000$40,877▼ $94,123
Prepaid Expenses and Deferred Charges$0$21,606▲ $21,606
Land, Buildings, and Equipment, Net$8,037$4,711▼ $3,326
Total Assets$702,230$260,713▼ $441,517
Other Assets Total$13,900$5,400▼ $8,500
Liabilities
Accounts Payable and Accrued Expenses$112,518$81,139▼ $31,379
Total Liabilities$112,518$81,139▼ $31,379
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$589,712$179,574▼ $410,138
Total Net Assets Fund Balance$589,712$179,574▼ $410,138
Total Liabilities and Net Assets / Fund Balance$702,230$260,713▼ $441,517

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$4,711$19,166$23,877
Compensation and Service Providers

Board Members and Trustees

NameTitle
Julian Waits JrChair
Sherron BurgessVice Chair
Malcolm K PalmoreVice President
Devon BryanDirector
Larry Whiteside JrDirector
Munish Walther-puriDirector
Olivia RoseDirector (thru October)
Edward AdamsTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Virtual INCProfessional Services401 EDGEWATER PL STE 600, Wakefield, MA 01880$306,354
Revenue and Support

Revenue Composition

Contributions and Grants
$401,812
Program Service Revenue
$181,604
Investment Income
$16
Other Revenue
$304
All Other Contributions
$401,812
Change in Net Assets
$-410,138
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$993,874
Total Fundraising Expense$31,805
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$293,873$55,101$18,367$367,341
Conferences and Meetings$341,950$3,037$2,835$347,822
Other Expenses$128,251--$128,251
Fees for Services Management$84,824$10,603$10,603$106,030
Office Expenses-$15,275-$15,275
Information Technology-$8,719-$8,719
Fees for Services Accounting-$7,888-$7,888
Advertising$5,993--$5,993
Depreciation Depletion-$3,326-$3,326
Fees for Services Legal-$2,635-$2,635
Insurance-$594-$594
Total Functional Expenses$854,891$107,178$31,805$993,874
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
Business relationship with 35% controlled entity
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

Cyversity inc. Uses a management company, virtual inc., to perform management duties customarily performed by or under supervision of officers, directors, or key employees including planning and executing budgets and financial operations as well as supervising exempt operations.

Form 990, Part VI, Section A, Line 4

The organization amended its organizational documents to change its name from international consortium of minority cybersecurity professionals a nj nonprofit corporation to cyversity inc.

Form 990, Part VI, Section A, Line 6

Cyversity inc. Shall establish and maintain the following classes and qualifications of membership, each class with the rights hereinafter provided: regular member. Any person who is interested in, or engaged in, the practice, teaching or other application of cybersecurity, including research concerning cybersecurity, may qualify as a regular member of cyversity inc. Regular members shall have voting rights and may hold any elected or appointed office in cyversity inc. Retiree member. Any person who has been a cyversity inc. Member in good standing for five (5) consecutive years, and who has retired from active employment, qualifies for cyversity, inc. Retiree membership. Retiree members shall have all rights of the regular member class. Student member. Any person currently enrolled as a full-time student in an undergraduate or graduate degree program from an accredited or globally equivalent college or university may qualify for cyversity inc. Student membership. Student members shall have voting rights. Student members shall not be entitled to hold any elected office in cyversity inc., except that student members may hold office and vote within an cyversity inc. Chapter, as may be granted in the chapter bylaws. Associate member. Any person who joins cyversity inc. To access limited privileges pursuant to policies duly adopted by the cyversity inc. Board of directors. Associate members shall not be entitled to exercise any voting rights, and shall not be a candidate for, nor hold any elected or appointed office in cyversity inc.

Form 990, Part VI, Section A, Line 7A

All cyversity inc. Board directors shall be elected by secret ballot by the voting membership of cyversity inc., the results of which shall be announced at the annual membership meeting.

Form 990, Part VI, Section A, Line 7B

Bylaws amendment by membership. Other than clerical changes, all sections of these bylaws relating to the following subjects may be amended only by a vote of a majority of the voting membership of cyversity inc.: purposes and limitations of cyversity inc.; voting rights of members; classes and qualifications of membership; termination or transfer of membership; regular member meetings; amendment of member voting provisions; quorum; action by members; member action by proxy; authority of the cyversity inc. Board of directors; selection and removal of directors; judges of election (nominating committee); voting rights of directors; wind up and distribution (dissolution).

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

No review will be conducted.

Form 990, Part VI, Section C, Line 19

The organization does not make its governing documents, conflict of interest policy, and financial statements available to the public.

Filing and Contact Details

Filer

Filer Name
Cyversity Inc
EIN
46-5596141
Phone
7812460500
Address
401 EDGEWATER PLACE 600, WAKEFIELD, MA 01880

Signing Officer

Name
Malcolm K Palmore
Title
Chair
Phone
7812460500
Signed
2024-04-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Malcolm K Palmore
Formed
2015
Legal Domicile
Nj
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
30

Preparer

Firm
Wegner Cpas Llp
Address
419 N LEE ST, ALEXANDRIA, VA 22314-2301
Preparer
Amanda Vannatta CPA
Phone
7035190990
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Outside contract services: program service expenses 293,873. Management and general expenses 55,101. Fundraising expenses 18,367. Total expenses 367,341.

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IRS990/ProgSrvcAccomActy2Grp/RevenueAmt0126953
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0698673
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
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IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
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IRS990/RegularMonitoringEnfrcInd00
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
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IRS990/RevenueAmt054651
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0148862
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt045175
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt049328
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0179145
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01374133
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt016
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt021
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt08
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt045
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt01572171
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IRS990ScheduleA/PublicSupportPY170Pct00.68220
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IRS990ScheduleA/SubstantialContributorsTotAmt0480192
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0401812
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0179145
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01374133
IRS990ScheduleA/TotalSupportAmt01374178
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt04711
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt019166
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt023877
IRS990ScheduleD/TotalBookValueLandBuildingsAmt04711
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0CYVERSITY INC. USES A MANAGEMENT COMPANY, VIRTUAL INC., TO PERFORM MANAGEMENT DUTIES CUSTOMARILY PERFORMED BY OR UNDER SUPERVISION OF OFFICERS, DIRECTORS, OR KEY EMPLOYEES INCLUDING PLANNING AND EXECUTING BUDGETS AND FINANCIAL OPERATIONS AS WELL AS SUPERVISING EXEMPT OPERATIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION AMENDED ITS ORGANIZATIONAL DOCUMENTS TO CHANGE ITS NAME FROM INTERNATIONAL CONSORTIUM OF MINORITY CYBERSECURITY PROFESSIONALS A NJ NONPROFIT CORPORATION TO CYVERSITY INC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CYVERSITY INC. SHALL ESTABLISH AND MAINTAIN THE FOLLOWING CLASSES AND QUALIFICATIONS OF MEMBERSHIP, EACH CLASS WITH THE RIGHTS HEREINAFTER PROVIDED: REGULAR MEMBER. ANY PERSON WHO IS INTERESTED IN, OR ENGAGED IN, THE PRACTICE, TEACHING OR OTHER APPLICATION OF CYBERSECURITY, INCLUDING RESEARCH CONCERNING CYBERSECURITY, MAY QUALIFY AS A REGULAR MEMBER OF CYVERSITY INC. REGULAR MEMBERS SHALL HAVE VOTING RIGHTS AND MAY HOLD ANY ELECTED OR APPOINTED OFFICE IN CYVERSITY INC. RETIREE MEMBER. ANY PERSON WHO HAS BEEN A CYVERSITY INC. MEMBER IN GOOD STANDING FOR FIVE (5) CONSECUTIVE YEARS, AND WHO HAS RETIRED FROM ACTIVE EMPLOYMENT, QUALIFIES FOR CYVERSITY, INC. RETIREE MEMBERSHIP. RETIREE MEMBERS SHALL HAVE ALL RIGHTS OF THE REGULAR MEMBER CLASS. STUDENT MEMBER. ANY PERSON CURRENTLY ENROLLED AS A FULL-TIME STUDENT IN AN UNDERGRADUATE OR GRADUATE DEGREE PROGRAM FROM AN ACCREDITED OR GLOBALLY EQUIVALENT COLLEGE OR UNIVERSITY MAY QUALIFY FOR CYVERSITY INC. STUDENT MEMBERSHIP. STUDENT MEMBERS SHALL HAVE VOTING RIGHTS. STUDENT MEMBERS SHALL NOT BE ENTITLED TO HOLD ANY ELECTED OFFICE IN CYVERSITY INC., EXCEPT THAT STUDENT MEMBERS MAY HOLD OFFICE AND VOTE WITHIN AN CYVERSITY INC. CHAPTER, AS MAY BE GRANTED IN THE CHAPTER BYLAWS. ASSOCIATE MEMBER. ANY PERSON WHO JOINS CYVERSITY INC. TO ACCESS LIMITED PRIVILEGES PURSUANT TO POLICIES DULY ADOPTED BY THE CYVERSITY INC. BOARD OF DIRECTORS. ASSOCIATE MEMBERS SHALL NOT BE ENTITLED TO EXERCISE ANY VOTING RIGHTS, AND SHALL NOT BE A CANDIDATE FOR, NOR HOLD ANY ELECTED OR APPOINTED OFFICE IN CYVERSITY INC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL CYVERSITY INC. BOARD DIRECTORS SHALL BE ELECTED BY SECRET BALLOT BY THE VOTING MEMBERSHIP OF CYVERSITY INC., THE RESULTS OF WHICH SHALL BE ANNOUNCED AT THE ANNUAL MEMBERSHIP MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4BYLAWS AMENDMENT BY MEMBERSHIP. OTHER THAN CLERICAL CHANGES, ALL SECTIONS OF THESE BYLAWS RELATING TO THE FOLLOWING SUBJECTS MAY BE AMENDED ONLY BY A VOTE OF A MAJORITY OF THE VOTING MEMBERSHIP OF CYVERSITY INC.: PURPOSES AND LIMITATIONS OF CYVERSITY INC.; VOTING RIGHTS OF MEMBERS; CLASSES AND QUALIFICATIONS OF MEMBERSHIP; TERMINATION OR TRANSFER OF MEMBERSHIP; REGULAR MEMBER MEETINGS; AMENDMENT OF MEMBER VOTING PROVISIONS; QUORUM; ACTION BY MEMBERS; MEMBER ACTION BY PROXY; AUTHORITY OF THE CYVERSITY INC. BOARD OF DIRECTORS; SELECTION AND REMOVAL OF DIRECTORS; JUDGES OF ELECTION (NOMINATING COMMITTEE); VOTING RIGHTS OF DIRECTORS; WIND UP AND DISTRIBUTION (DISSOLUTION).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5NO REVIEW WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7OUTSIDE CONTRACT SERVICES: PROGRAM SERVICE EXPENSES 293,873. MANAGEMENT AND GENERAL EXPENSES 55,101. FUNDRAISING EXPENSES 18,367. TOTAL EXPENSES 367,341.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 4
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART IX, LINE 11G
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IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
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IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalProgramServiceRevenueAmt0181604
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IRS990/WebsiteAddressTxt0CYVERSITY.ORG
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ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
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ReturnHeader/BusinessOfficerGrp/SignatureDt02024-04-10
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