Civic Intelligence

False Profit Inc.

990 • Fiscal year 2020 • EIN 46-5723196

Jan 01, 2020 to Dec 31, 2020 • Filed on May 13, 2021

Organization Profilepricelessfestival.org
340 S Lemon Ave STE 2678Walnut, CA 91789

(415) 993-2678

Siviq Scores

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

Liabilities / Assets

57th percentile

0.00x

Higher debt load relative to assets than 57% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

Score unavailable

No value available

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

Source year 2020

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on this filing.

Source year 2020

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Asset Growth

12th percentile

-37%

Faster asset growth than 12% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

2nd percentile

-100%

Faster revenue growth than 2% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets57th percentile

Assets

Down

$77,938

Down $46,532 (-37%) from 2019

Net Assets

Down

$77,857

Down $46,532 (-37%) from 2019

Liabilities

Flat

$81

Flat from 2019

Revenue And Expenses
Liabilities / RevenueScore unavailableNet MarginScore unavailable

Revenue

Down

$0

Down $279,897 (-100%) from 2019

Expenses

Down

$43,934

Down $208,509 (-83%) from 2019

Net Income

Down

-$43,934

Down $71,388 (-260%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth12th percentile

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

$200K$150K$100K$50K$0Assets 2015: $16,178Net Assets 2015: $16,1782015Assets 2016: $25,208Liabilities 2016: $0Net Assets 2016: $25,2082016Assets 2017: $49,334Liabilities 2017: $49,334Net Assets 2017: $02017Assets 2018: $97,492Liabilities 2018: $557Net Assets 2018: $96,9352018Assets 2019: $124,470Liabilities 2019: $81Net Assets 2019: $124,3892019Assets 2020: $77,938Liabilities 2020: $81Net Assets 2020: $77,8572020Assets 2021: $70,147Liabilities 2021: $0Net Assets 2021: $70,1472021Assets 2022: $76,193Liabilities 2022: $395Net Assets 2022: $75,7982022Assets 2023: $113,336Liabilities 2023: $0Net Assets 2023: $113,3362023Assets 2024: $179,358Liabilities 2024: $0Net Assets 2024: $179,3582024

Highlighted filing

2020

Assets$77,938
Liabilities$81
Net Assets$77,857
Open 2020 Filing

Operations Trend

Revenue Growth2nd percentile

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

$400K$200K$0-$200KRevenue 2015: $168,784Expenses 2015: $160,199Net Income 2015: $8,5852015Revenue 2016: $191,170Expenses 2016: $182,681Net Income 2016: $8,4892016Revenue 2017: $224,193Expenses 2017: $202,412Net Income 2017: $21,7812017Revenue 2018: $271,429Expenses 2018: $231,794Net Income 2018: $39,6352018Revenue 2019: $279,897Expenses 2019: $252,443Net Income 2019: $27,4542019Revenue 2020: $0Expenses 2020: $43,934Net Income 2020: -$43,9342020Revenue 2021: $40,157Expenses 2021: $47,867Net Income 2021: -$7,7102021Revenue 2022: $148,693Expenses 2022: $143,042Net Income 2022: $5,6512022Revenue 2023: $272,595Expenses 2023: $235,058Net Income 2023: $37,5372023Revenue 2024: $363,004Expenses 2024: $296,982Net Income 2024: $66,0222024

Highlighted filing

2020

Revenue$0
Expenses$43,934
Net Income-$43,934
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
May 13, 2021
Return Version
2020v4.1
Gross Receipts
$0
Mission and Program Overview

Mission

To provide cultural advancements and life quality enhancements through music, art, and educational opportunities

To provide cultural advancements through art, music, and education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$124,470$77,938▼ $46,532
Rtn Earn Endowment Incm Other Fnds$124,389$77,857▼ $46,532
Total Assets$124,470$77,938▼ $46,532
Liabilities
Other Liabilities$81$81→ $0
Total Liabilities$81$81→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$124,389$77,857▼ $46,532
Total Liabilities and Net Assets / Fund Balance$124,470$77,938▼ $46,532
Compensation and Service Providers
Top Officer Pay76th percentile

Board Members and Trustees

NameTitle
Carrie BrownPresident
Jef PearlmanSecretary
Sasha YeeTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-43,934
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$26,237
Other Expenses$17,697
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$26,237--$26,237
Occupancy$2,000$6,900-$8,900
Insurance-$3,334-$3,334
Fees for Services Accounting-$1,333-$1,333
Other Expenses$1,945$985-$985
Advertising$666--$666
Fees for Services Other$428--$428
Total Functional Expenses$31,276$12,658$0$43,934
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Phage IncSan Francisco, CA501c3Charitable operations$26,040
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
CA CDTFA payable$81
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
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 governing body review Part VI line 11

“The Treasurer engages a return preparer to draft Form 990. The Treasurer reviews the draft Form 990 with the other Board members prior to filing.”

Conflict of interest policy compliance Part VI line 12C

“The Board has adopted a Conflict of Interest policy. All Officers and Directors are required to disclose any potential conflicts of interest to the Board for review under the policy. The Board is then required to deliberate on the potential conflict of interest and to record its decision in the minutes. Officers or Directors with a potential conflict of interest are not permitted to participate in the Boards discussion or vote.”

Governing documents etc available to public Part VI line 19

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

Filing and Contact Details

Filer

Filer Name
False Profit Inc
EIN
46-5723196
Address
340 S Lemon Ave STE 2678, Walnut, CA 91789

Signing Officer

Name
Sasha Yee
Title
Treasurer
Phone
4159932678
Signed
2021-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Carrie Brown
Formed
2014
Legal Domicile
CA
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
3

Preparer

Firm
Build Advisory Corporation
Address
1840 41st Ave STE 200 PMB 115, Capitola, CA 95010
Preparer
Mark Hancock CRTP
Phone
4159523695
Supplemental Narrative

Additional Explanations

Cessation of or significant change to any program service Part III line 3

“False Profit, Inc. has temporarily suspended festival operations for tax year 2020 due to the COVID-19 pandemic.”

List of other fees for services expenses Part IX line 11G

“Contract labor, $83,663”

List of other expenses Part IX line 24E

“Permits, 14,013Taxes & licenses, 2,360Fuel, 1,078Dues & subscriptions, 859Bank charges, 470Rounding, -2TOTAL TO PART IX LINE 25e: 18,778”

Raw XML Appendix315 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ManagementAndGeneralAmt06900
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IRS990/OccupancyGrp/TotalAmt08900
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0Bank charges
IRS990/OtherExpensesGrp/Desc1Dues and subscriptions
IRS990/OtherExpensesGrp/Desc2Permits
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Treasurer engages a return preparer to draft Form 990. The Treasurer reviews the draft Form 990 with the other Board members prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Board has adopted a Conflict of Interest policy. All Officers and Directors are required to disclose any potential conflicts of interest to the Board for review under the policy. The Board is then required to deliberate on the potential conflict of interest and to record its decision in the minutes. Officers or Directors with a potential conflict of interest are not permitted to participate in the Boards discussion or vote.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The organization does not make its governing documents, financial statements, or conflict of interest policy available to the public.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3False Profit, Inc. has temporarily suspended festival operations for tax year 2020 due to the COVID-19 pandemic.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Contract labor, $83,663
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Permits, 14,013Taxes & licenses, 2,360Fuel, 1,078Dues & subscriptions, 859Bank charges, 470Rounding, -2TOTAL TO PART IX LINE 25e: 18,778
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5List of other expenses Part IX line 24e
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ReturnHeader/Filer/USAddress/ZIPCd091789
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0465555252
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Build Advisory Corporation
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01840 41st Ave STE 200 PMB 115
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Capitola
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd095010
ReturnHeader/PreparerPersonGrp/PhoneNum04159523695
ReturnHeader/PreparerPersonGrp/PreparationDt02021-05-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Mark Hancock CRTP
ReturnHeader/ReturnTs02021-05-14T00:56:49-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Sasha
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Yee
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$77,938
Liabilities
$81
Net assets
$77,857
Revenue
$0
Expenses
$43,934
Net income
-$43,934
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.79$0.00$1.79$3.63$2.97$0.66
2023Detailed filing. Detailed filing data is available for this year.$1.13$0.00$1.13$2.73$2.35$0.38
2022Detailed filing. Detailed filing data is available for this year.$0.76$0.00$0.76$1.49$1.43$0.06
2021Detailed filing. Detailed filing data is available for this year.$0.70$0.00$0.70$0.40$0.48$0.08
2020Detailed filing. Detailed filing data is available for this year.$0.78$0.00$0.78$0.00$0.44$0.44
2019Detailed filing. Detailed filing data is available for this year.$1.24$0.00$1.24$2.80$2.52$0.27
2018Detailed filing. Detailed filing data is available for this year.$0.97$0.01$0.97$2.71$2.32$0.40
2017Detailed filing. Detailed filing data is available for this year.$0.49$0.49$0.00$2.24$2.02$0.22
2016Detailed filing. Detailed filing data is available for this year.$0.25$0.00$0.25$1.91$1.83$0.08
2015Detailed filing. Detailed filing data is available for this year.$0.16$0.16$1.69$1.60$0.09