Civic Intelligence

King Street Center Foundation Inc

990 • Fiscal year 2018 • EIN 47-2238708

Apr 01, 2017 to Mar 31, 2018 • Filed on Aug 01, 2018

Organization ProfileN/A
PO Box 1615Burlington, VT 05402

(802) 862-6736

Siviq Scores

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

Liabilities / Assets

94th percentile

1.13x

Higher debt load relative to assets than 94% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Liabilities / Revenue

100th percentile

78.49x

Higher debt load relative to revenue than 100% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Net Margin

1st percentile

-301%

Higher net margin than 1% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Top Officer Pay

32nd percentile

$84,244

Higher top officer pay than 32% of similar nonprofits.

Top officer pay equals 101.4% of source-year revenue.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Asset Growth

28th percentile

-3.0%

Faster asset growth than 28% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Revenue Growth

38th percentile

0.0%

Faster revenue growth than 38% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets94th percentile

Assets

Down

$5,753,561

Down $178,891 (-3.0%) from 2017

Net Assets

Down

-$768,434

Down $250,048 (-48%) from 2017

Liabilities

Up

$6,521,995

Up $71,157 (+1.1%) from 2017

Revenue And Expenses
Liabilities / Revenue100th percentileNet Margin1st percentile

Revenue

Up

$83,095

Up $19 (+0.0%) from 2017

Expenses

Up

$333,143

Up $19,537 (+6.2%) from 2017

Net Income

Down

-$250,048

Down $19,518 (-8.5%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth28th percentile

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

$10M$5.0M$0-$5.0MAssets 2015: $7,039,524Liabilities 2015: $7,089,887Net Assets 2015: -$50,3632015Assets 2016: $6,181,637Liabilities 2016: $6,469,493Net Assets 2016: -$287,8562016Assets 2017: $5,932,452Liabilities 2017: $6,450,838Net Assets 2017: -$518,3862017Assets 2018: $5,753,561Liabilities 2018: $6,521,995Net Assets 2018: -$768,4342018Assets 2019: $5,505,009Liabilities 2019: $6,521,995Net Assets 2019: -$1,016,9862019Assets 2020: $5,261,695Liabilities 2020: $6,526,092Net Assets 2020: -$1,264,3972020Assets 2021: $5,014,684Liabilities 2021: $6,526,092Net Assets 2021: -$1,511,4082021Assets 2022: $0Liabilities 2022: $0Net Assets 2022: $02022

Highlighted filing

2018

Assets$5,753,561
Liabilities$6,521,995
Net Assets-$768,434
Open 2018 Filing

Operations Trend

Revenue Growth38th percentile

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

$2.0M$1.0M$0-$1.0MRevenue 2015: $14,079Expenses 2015: $64,442Net Income 2015: -$50,3632015Revenue 2016: $76,863Expenses 2016: $314,356Net Income 2016: -$237,4932016Revenue 2017: $83,076Expenses 2017: $313,606Net Income 2017: -$230,5302017Revenue 2018: $83,095Expenses 2018: $333,143Net Income 2018: -$250,0482018Revenue 2019: $83,160Expenses 2019: $331,712Net Income 2019: -$248,5522019Revenue 2020: $83,168Expenses 2020: $330,579Net Income 2020: -$247,4112020Revenue 2021: $83,049Expenses 2021: $330,060Net Income 2021: -$247,0112021Revenue 2022: $1,865,379Expenses 2022: $353,971Net Income 2022: $1,511,4082022

Highlighted filing

2018

Revenue$83,095
Expenses$333,143
Net Income-$250,048
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Apr 1, 2017 to Mar 31, 2018
Signed
Aug 1, 2018
Return Version
2017v2.2
Gross Receipts
$83,095
Mission and Program Overview

Mission

To support King Street Center, Inc. ("KSC") by 1) purchasing certain real property, 2) leasing the Project Property to KSC and 3) all other purposes permitted by law that further the support of KSC.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$5,302,075$5,286,164▼ $15,911
Cash and Non-Interest-Bearing Accounts$212,311$229,717▲ $17,406
Intangible Assets$194,017$152,448▼ $41,569
Savings and Temporary Cash Investments$107,280$85,232▼ $22,048
Total Assets$5,932,452$5,753,561▼ $178,891
Other Assets Total$116,769--
Liabilities
Mortgage Notes Payable Secured by Investment Property$6,045,000$6,045,000→ $0
Other Liabilities$366,398$457,102▲ $90,704
Accounts Payable and Accrued Expenses$39,440$19,893▼ $19,547
Total Liabilities$6,450,838$6,521,995▲ $71,157
Net Assets / Fund Balance
Unrestricted Net Assets$-518,386$-768,434▼ $250,048
Total Net Assets Fund Balance$-518,386$-768,434▼ $250,048
Total Liabilities and Net Assets / Fund Balance$5,932,452$5,753,561▼ $178,891

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,190,733$581,516$5,772,249
Other Land Buildings$48,431$21,349$69,780
Land$47,000-$47,000
Compensation and Service Providers
Top Officer Pay32nd percentile

Employees

NameTitleOtherTotal
Victoria SmithPresident$84,244$84,244

Board Members and Trustees

NameTitle
Anna GradyDirector
Chuck GinsburgDirector
Grant LeibersbergerDirector
Michael MonteDirector
Richard ElmoreDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$95
Other Revenue
$83,000
Change in Net Assets
$-250,048
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$333,143
Total Fundraising Expense$6,051
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$189,635$47,620$6,051$243,306
Interest$0$57,428$0$57,428
Payments to Affiliates$0$7,081$0$7,081
Fees for Services Accounting$0$3,100$0$3,100
Other Expenses$0$85$0$85
Total Functional Expenses$189,635$137,457$6,051$333,143
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
Due to Parent (King Street Center, Inc.)$457,102
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
King Street Center Foundation Inc
EIN
47-2238708
Phone
8028626736
Address
PO Box 1615, Burlington, VT 05402

Signing Officer

Name
Victoria Smith
Title
President
Phone
8028626736
Signed
2018-08-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Victoria Smith
Formed
2014
Legal Domicile
Vt
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
5

Preparer

Firm
Tapia & Huckabay PC
Address
PO Box 38, Vergennes, VT 05491
Preparer
William S Huckabay CPA
Phone
8028707086
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“A draft of Form 990 is reviewed by the President with a final version made available to the Board prior to filing.”

Pt VI, Line 12C

“The President inquiries of Board members annually about any potential conflicts of interest.”

Pt VI, Line 15A

“The Organization has no employees and does not compensate any of its officers or directors.”

Pt VI, Line 15B

“See above.”

Pt VI, Line 19

“The Organization has never been asked for its organizational documents, financial statements, or conflict of interest policy and has no formal policy related to the public inspection of this information.”

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IRS990/RentalIncomeOrLossGrp/RealAmt083000
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/FundraisingAmt00
IRS990/RoyaltiesGrp/ManagementAndGeneralAmt00
IRS990/RoyaltiesGrp/ProgramServicesAmt00
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0107280
IRS990/SavingsAndTempCashInvstGrp/EOYAmt085232
IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd0true
IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd0false
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/OperateBenefitNonSuprtOrgInd0false
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd0true
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeCYPct00
IRS990ScheduleA/IRSWrittenDeterminationInd0X
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/PublicSupportCY170Pct00
IRS990ScheduleA/PublicSupportCY509Pct00
IRS990ScheduleA/PublicSupportTotal170Amt00
IRS990ScheduleA/PublicSupportTotal509Amt00
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0237236312
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd0true
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd07
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt0333143
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0King Street Center Inc
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType1Ind0X
IRS990ScheduleA/SupportSumAmt0333143
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt05190733
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0581516
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt05772249
IRS990ScheduleD/LandGrp/BookValueAmt047000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt047000
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt048431
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt021349
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt069780
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0457102
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Due to Parent (King Street Center, Inc.)
IRS990ScheduleD/TotalBookValueLandBuildingsAmt05286164
IRS990ScheduleD/TotalLiabilityAmt0457102
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A draft of Form 990 is reviewed by the President with a final version made available to the Board prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The President inquiries of Board members annually about any potential conflicts of interest.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Organization has no employees and does not compensate any of its officers or directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3See above.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The Organization has never been asked for its organizational documents, financial statements, or conflict of interest policy and has no formal policy related to the public inspection of this information.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Pt VI, Line 19
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0NA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0King Street Center Inc
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0237236312
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(c)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0VT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0HUMAN SERVICE NPO
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0509(a)(1)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0PO Box 1615
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Burlington
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0VT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd005402
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0true
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0true
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0true
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0457102
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt16045000
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt283000
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt37081
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0Cost
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1Cost
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt2Cost
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt3Cost
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0King Street Center Inc (Direct Advances)
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1King Street Center Inc (Loan Guarantee)
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt2King Street Center Inc
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt3King Street Center Inc

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,753,561
Liabilities
$6,521,995
Net assets
-$768,434
Revenue
$83,095
Expenses
$333,143
Net income
-$250,048
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.00$0.00$0.00$1.87$0.35$1.51
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.01$6.53$1.51$0.08$0.33$0.25
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.26$6.53$1.26$0.08$0.33$0.25
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.51$6.52$1.02$0.08$0.33$0.25
2018Detailed filing. Detailed filing data is available for this year.$5.75$6.52$0.77$0.08$0.33$0.25
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.93$6.45$0.52$0.08$0.31$0.23
2016Detailed filing. Detailed filing data is available for this year.$6.18$6.47$0.29$0.08$0.31$0.24
2015Detailed filing. Detailed filing data is available for this year.$7.04$7.09$0.05$0.01$0.06$0.05