Civic Intelligence

5Tht Innovation Group

990 • Fiscal year 2021 • EIN 47-1164981

Jul 01, 2020 to Jun 30, 2021 • Filed on Nov 14, 2022

Organization Profile
690 Country Club DriveConway, SC 29526

(843) 488-5768

Siviq Scores

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

Liabilities / Assets

99th percentile

7.47x

Higher debt load relative to assets than 99% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

97th percentile

2.01x

Higher debt load relative to revenue than 97% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Net Margin

4th percentile

-249%

Higher net margin than 4% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Top Officer Pay

77th percentile

$0

Higher top officer pay than 77% of similar nonprofits.

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

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Asset Growth

3rd percentile

-90%

Faster asset growth than 3% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

9th percentile

-73%

Faster revenue growth than 9% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets99th percentile

Assets

Down

$10,441

Down $94,718 (-90%) from 2020

Net Assets

Down

-$67,587

Down $96,383 (-335%) from 2020

Liabilities

Up

$78,028

Up $1,665 (+2.2%) from 2020

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin4th percentile

Revenue

Down

$38,761

Down $105,165 (-73%) from 2020

Expenses

Up

$135,193

Up $6,370 (+4.9%) from 2020

Net Income

Down

-$96,432

Down $111,535 (-738%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth3rd percentile

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

$150K$100K$50K$0-$50K-$100KAssets 2017: $92,656Liabilities 2017: $366Net Assets 2017: $92,2902017Assets 2019: $13,418Liabilities 2019: -$275Net Assets 2019: $13,6932019Assets 2020: $105,159Liabilities 2020: $76,363Net Assets 2020: $28,7962020Assets 2021: $10,441Liabilities 2021: $78,028Net Assets 2021: -$67,5872021

Highlighted filing

2021

Assets$10,441
Liabilities$78,028
Net Assets-$67,587
Open 2021 Filing

Operations Trend

Revenue Growth9th percentile

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

$300K$200K$100K$0-$100KRevenue 2017: $225,905Expenses 2017: $177,327Net Income 2017: $48,5782017Revenue 2019: $90,180Expenses 2019: $156,310Net Income 2019: -$66,1302019Revenue 2020: $143,926Expenses 2020: $128,823Net Income 2020: $15,1032020Revenue 2021: $38,761Expenses 2021: $135,193Net Income 2021: -$96,4322021

Highlighted filing

2021

Revenue$38,761
Expenses$135,193
Net Income-$96,432
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Nov 14, 2022
Return Version
2020v4.1
Gross Receipts
$38,761
Mission and Program Overview

Mission

Economic Development through the creation of new technology and local entrepreneuerial ventures

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$96,521$4,704▼ $91,817
Land, Buildings, and Equipment, Net$6,638$3,737▼ $2,901
Rtn Earn Endowment Incm Other Fnds$28,796$-67,587▼ $96,383
Total Assets$105,159$10,441▼ $94,718
Other Assets Total$2,000$2,000→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$76,366$78,394▲ $2,028
Accounts Payable and Accrued Expenses$-3$-366▼ $363
Total Liabilities$76,363$78,028▲ $1,665
Net Assets / Fund Balance
Total Net Assets Fund Balance$28,796$-67,587▼ $96,383
Total Liabilities and Net Assets / Fund Balance$105,159$10,441▼ $94,718

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$3,737$37,272$41,009
Other Assets Org$2,000--
Compensation and Service Providers
Top Officer Pay77th percentile

Board Members and Trustees

NameTitle
Michael H RobertsPresident
Barbara RitterBoard Member
Becky BooneBoard Member
Chet HosmerBoard Member
Robert SkundaBoard Member
Richard GrossBord Member
Tom MulikinSecretaryTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$22,740
Program Service Revenue
$12,000
Investment Income
$0
Other Revenue
$4,021
Change in Net Assets
$-96,432
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$128,986
Salaries, Compensation, and Employee Benefits$6,207
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$44,100$44,100-$88,200
Occupancy$12,884$12,884-$25,768
Other Salaries and Wages$5,766--$5,766
Fees for Services Accounting-$4,590-$4,590
Depreciation Depletion$3,451--$3,451
Insurance-$3,387-$3,387
Office Expenses$2,513--$2,513
Payroll Taxes$441--$441
Conferences and Meetings$140--$140
Advertising$127--$127
Other Expenses$50--$50
Total Functional Expenses$70,232$64,961$0$135,193
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
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

“Copy provided to Executive Director to provide to Board”

Conflict of interest policy compliance Part VI line 12C

“The purpose of the conflict of interest policy is to protect the Nonprofits interests when it is contemplating entering into a transaction or arrangement that might benefit the private interests of an officer or director or might result in a possible excess benefit transaction.”

Governing documents etc available to public Part VI line 19

“Any governing documents, tax returns, etc will be made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
5thT Innovation Group
EIN
47-1164981
Address
690 Country Club Drive, Conway, SC 29526

Signing Officer

Name
Michael H Roberts
Title
President
Phone
8433492282
Signed
2022-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael H Roberts
Formed
2014
Legal Domicile
Sc
Voting Board Members
9
Independent Board Members
9
Employees
1

Preparer

Firm
Brenda S Tanner Acctg Practitioner
Address
690 Country Club Drive, Conway, SC 29526
Preparer
Brenda S Tanner
Phone
8434885768
Supplemental Narrative

Additional Explanations

Explanation of other changes in net assets or fund balances Part XI line 9

“Bank balance changed by $49 from prior year (increased by $49)”

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

“$82,468 was paid to an Independent Consultant who filed the Nonprofit Application, located and set up the office for the Nonprofit, located an accountant, assisted with finances of the Nonprofit and served as Interim Executive Director until one could be hired.”

Raw XML Appendix374 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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ReturnHeader/TaxYr02020

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$10,441
Liabilities
$78,028
Net assets
-$67,587
Revenue
$38,761
Expenses
$135,193
Net income
-$96,432
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2021Detailed filing. Detailed filing data is available for this year.$0.10$0.78$0.68$0.39$1.35$0.96
2020Detailed filing. Detailed filing data is available for this year.$1.05$0.76$0.29$1.44$1.29$0.15
2019Detailed filing. Detailed filing data is available for this year.$0.13$0.00$0.14$0.90$1.56$0.66
2017Detailed filing. Detailed filing data is available for this year.$0.93$0.00$0.92$2.26$1.77$0.49