Civic Intelligence

Saving Sweet Briar Inc

990 • Fiscal year 2015 • EIN 47-3361420

Jan 01, 2015 to Dec 31, 2015 • Filed on Aug 01, 2016

Organization ProfileSAVINGSWEETBRIAR.COM
1001 Haxall PointRichmond, VA 23219

(804) 697-1272

Siviq Scores

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

Liabilities / Assets

4th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Liabilities / Revenue

4th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Net Margin

47th percentile

2.3%

Higher net margin than 47% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Top Officer Pay

12th percentile

$0

Higher top officer pay than 12% of similar nonprofits.

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

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2015

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2015

Balance Sheet
Liabilities / Assets4th percentile

Assets

$337,356

No earlier filing loaded for comparison.

Net Assets

$337,356

No earlier filing loaded for comparison.

Liabilities

$0

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue4th percentileNet Margin47th percentile

Revenue

$14,685,120

No earlier filing loaded for comparison.

Expenses

$14,347,764

No earlier filing loaded for comparison.

Net Income

$337,356

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$400K$300K$200K$100K$0Assets 2015: $337,356Liabilities 2015: $0Net Assets 2015: $337,3562015

Highlighted filing

2015

Assets$337,356
Liabilities$0
Net Assets$337,356
Open 2015 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$15M$10M$5.0M$0Revenue 2015: $14,685,120Expenses 2015: $14,347,764Net Income 2015: $337,3562015

Highlighted filing

2015

Revenue$14,685,120
Expenses$14,347,764
Net Income$337,356
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Aug 1, 2016
Return Version
2015v2.1
Gross Receipts
$14,685,120
Mission and Program Overview

Mission

To engage in legal action to reverse the decision to close the college, together with a fundraising campaign to support this goal.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$0$337,356▲ $337,356
Total Assets$0$337,356▲ $337,356
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$0$337,356▲ $337,356
Total Net Assets Fund Balance$0$337,356▲ $337,356
Total Liabilities and Net Assets / Fund Balance$0$337,356▲ $337,356
Compensation and Service Providers
Top Officer Pay12th percentile

Board Members and Trustees

NameTitle
Sarah ClementChair
Brooke LinvilleDirector
Ellen O PiteraDirector
Jo Ann Soderquist KramerDirector
Sally Mott FreemanDirector
Tracy StuartDirector
Christine BoulwareSecretary

Highest Paid Contractors

ContractorServicesLocationCompensation
Troutman Sanders LLP - See Schedule OLegal Program Costs1001 HAXALL POINT, Richmond, VA 23219$1,831,318
Revenue and Support

Revenue Composition

Contributions and Grants
$14,685,120
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$14,685,120
Change in Net Assets
$337,356

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
Yes

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded69$2,554,308Net Proceeds
Total Noncash Contributions69$2,554,308-

Audited Revenue Reconciliation

Revenue per Audited Statements
$14,685,120
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$14,685,120
Total Revenue per Form 990
$14,685,120
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$12,250,000
Other Expenses$2,097,764
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$12,250,000--$12,250,000
Fees for Services Legal$1,916,322--$1,916,322
Advertising-$58,467-$58,467
Information Technology-$25,703-$25,703
Office Expenses-$12,624-$12,624
Fees for Services Accounting-$2,066-$2,066
Other Expenses-$850-$850
Total Functional Expenses$14,166,322$181,442$0$14,347,764

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$14,347,764
Total Expenses per Audited Statements$14,347,764
Total Expenses per Form 990$14,347,764
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Sweet Briar CollegeSweet Briar, VA-Charitable Donation$12,250,000
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Brooke LinvilleBoard MemberORGANIZATION USED BOARD MEMBER'S BUSINESS FOR SERVICESNo$15,741
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Business relationship with family members
No
Business relationship with organization members
Yes
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, Part VI, Section B, Line 11

“A final draft of the form 990 without the donor listing (schedule b) is sent to all members of the board for their review with counsel before the 990 is filed.”

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

“The conflict of interest policy is addressed in the organization's bylaws. The board is aware of the importance of identifying any conflicts. There is no compensation paid to any directors and there are very few contractors who receive compensation, making it an easy process to identify any possible conflicts that may exist with the contractors used by the organization.”

Form 990, Part VI, Section C, Line 19

“The organization did not make its governing documents, conflict of interest policy, and financial statements available to the public during the tax year because the law does not require disclosure. Moreover, the organization was established for a single purpose in march 2015 and its primary goal was achieved by september 2015.”

Form 990, Part VII, Section B

“During the year, the organization paid troutman sanders llp $1,831,318 for legal program costs which included professional services by planet depos, the mottley law firm, schuchardt law firm, and troutman sanders strategies.”

Filing and Contact Details

Filer

Filer Name
Saving Sweet Briar Inc
EIN
47-3361420
Phone
8046971272
Address
1001 HAXALL POINT, RICHMOND, VA 23219

Signing Officer

Name
Sarah Clement
Title
Chair
Phone
8046971272
Signed
2016-08-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sarah Clement
Formed
2015
Legal Domicile
Va
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
2,500

Preparer

Firm
Yount Hyde & Barbour Pc
Address
PO BOX 2560, WINCHESTER, VA 22604-1760
Preparer
Olivia a Hutton CPA
Phone
5406623417
Supplemental Narrative

Additional Explanations

Form 990 Part IX Line 11B

“During the year, the organization paid $1,916,322 for legal program costs which included professional services by troutman sanders, planet depos, the mottley law firm, schuchardt law firm, yount, hyde & barbour, p.c., and troutman sanders strategies.”

Raw XML Appendix342 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.

Path#Value
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IRS990/Desc0THE ORGANIZATION'S MISSION WAS SUCCESSFUL WHEN ON JUNE 23, 2015, A SETTLEMENT WAS ENTERED BY COURT ORDER THAT USHERED IN NEW LEADERSHIP OF SWEET BRIAR COLLEGE AND PROVIDED THE NECESSARY FUNDING TO ENSURE THAT THE COLLEGE WOULD REMAIN OPEN UNDER THE TERMS OF THE SETTLEMENT AGREEMENT. IN 2015, A TOTAL OF $12,250,000 IN CASH WAS DELIVERED BY THE ORGANIZATION TO THE COLLEGE. AS PART OF THE SETTLEMENT AGREEMENT, THE ORGANIZATION AGREED TO DELIVER BY SEPTEMBER 2, 2015, $12 MILLION IN DONATIONS FOR THE ONGOING OPERATION OF THE COLLEGE. THE ORGANIZATION DELIVERED BY SEPTEMBER 2, 2015, $12.143 MILLION IN QUALIFIED DONATIONS AS DEFINED UNDER THE SETTLEMENT AGREEMENT, WHICH INCLUDED SOME $143,000 IN CONTRIBUTIONS DELIVERED DIRECTLY TO THE COLLEGE DURING THE RELEVANT PERIOD. THEREAFTER, THE ORGANIZATION DELIVERED AN ADDITIONAL $250,000 TO THE COLLEGE PRIOR TO YEAR'S END. THE ORGANIZATION DID NOT ENGAGE IN ANY FUNDRAISING IN 2016 AND HAS CEASED OPERATIONS. ALL REMAINING FUNDS WILL BE DELIVERED TO THE COLLEGE IN 2016 AFTER TAX FILINGS ARE COMPLETE.
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IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
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IRS990/MissionDesc0TO ENGAGE IN LEGAL ACTION TO REVERSE THE DECISION TO CLOSE THE COLLEGE, TOGETHER WITH A FUNDRAISING CAMPAIGN TO SUPPORT THIS GOAL.
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0CHARITABLE DONATION
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0SWEET BRIAR COLLEGE
IRS990ScheduleI/RecipientTable/RecipientEIN0540534105
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0134 CHAPEL ROAD
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE MISSION OF THE ORGANIZATION IS TO ENGAGE IN LEGAL ACTION TO REVERSE THE DECISION TO CLOSE THE COLLEGE, TOGETHER WITH A FUNDRAISING CAMPAIGN TO SUPPORT THIS GOAL.
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0ORGANIZATION USED BOARD MEMBER'S BUSINESS FOR SERVICES
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd00
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd00
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/ContributionCnt069
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/MethodOfDeterminingRevenuesTxt0NET PROCEEDS
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IRS990ScheduleM/SupplementalInformationDetail/ExplanationTxt0STOCK DONATIONS ARE SENT DIRECTLY TO A BROKER. THE BROKER IS INSTRUCTED TO SELL THE STOCK IMMEDIATELY.
IRS990ScheduleM/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 32B:
IRS990ScheduleM/ThirdPartiesUsedInd01
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A FINAL DRAFT OF THE FORM 990 WITHOUT THE DONOR LISTING (SCHEDULE B) IS SENT TO ALL MEMBERS OF THE BOARD FOR THEIR REVIEW WITH COUNSEL BEFORE THE 990 IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CONFLICT OF INTEREST POLICY IS ADDRESSED IN THE ORGANIZATION'S BYLAWS. THE BOARD IS AWARE OF THE IMPORTANCE OF IDENTIFYING ANY CONFLICTS. THERE IS NO COMPENSATION PAID TO ANY DIRECTORS AND THERE ARE VERY FEW CONTRACTORS WHO RECEIVE COMPENSATION, MAKING IT AN EASY PROCESS TO IDENTIFY ANY POSSIBLE CONFLICTS THAT MAY EXIST WITH THE CONTRACTORS USED BY THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION DID NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC DURING THE TAX YEAR BECAUSE THE LAW DOES NOT REQUIRE DISCLOSURE. MOREOVER, THE ORGANIZATION WAS ESTABLISHED FOR A SINGLE PURPOSE IN MARCH 2015 AND ITS PRIMARY GOAL WAS ACHIEVED BY SEPTEMBER 2015.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DURING THE YEAR, THE ORGANIZATION PAID TROUTMAN SANDERS LLP $1,831,318 FOR LEGAL PROGRAM COSTS WHICH INCLUDED PROFESSIONAL SERVICES BY PLANET DEPOS, THE MOTTLEY LAW FIRM, SCHUCHARDT LAW FIRM, AND TROUTMAN SANDERS STRATEGIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DURING THE YEAR, THE ORGANIZATION PAID $1,916,322 FOR LEGAL PROGRAM COSTS WHICH INCLUDED PROFESSIONAL SERVICES BY TROUTMAN SANDERS, PLANET DEPOS, THE MOTTLEY LAW FIRM, SCHUCHARDT LAW FIRM, YOUNT, HYDE & BARBOUR, P.C., AND TROUTMAN SANDERS STRATEGIES.
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 C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VII, SECTION B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990 PART IX LINE 11B
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsEOYAmt0337356
IRS990/TotalAssetsGrp/BOYAmt00
IRS990/TotalAssetsGrp/EOYAmt0337356
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt014685120
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0181442
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt014166322
IRS990/TotalFunctionalExpensesGrp/TotalAmt014347764
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0337356
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt014166322
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt014685120
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt02500
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0337356
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt00
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0337356
IRS990/USAddress/AddressLine1Txt01001 HAXALL POINT
IRS990/USAddress/CityNm0RICHMOND
IRS990/USAddress/StateAbbreviationCd0VA
IRS990/USAddress/ZIPCd023219
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0SAVINGSWEETBRIAR.COM
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02016-12-15 16:53:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0SARAH CLEMENT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIR
ReturnHeader/BusinessOfficerGrp/PhoneNum08046971272
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-08-01
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SAVING SWEET BRIAR INC
ReturnHeader/Filer/BusinessNameControlTxt0SAVI
ReturnHeader/Filer/EIN0473361420
ReturnHeader/Filer/PhoneNum08046971272
ReturnHeader/Filer/USAddress/AddressLine1Txt01001 HAXALL POINT
ReturnHeader/Filer/USAddress/CityNm0RICHMOND
ReturnHeader/Filer/USAddress/StateAbbreviationCd0VA
ReturnHeader/Filer/USAddress/ZIPCd023219
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0541149263
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0YOUNT HYDE & BARBOUR PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 2560
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WINCHESTER
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0VA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0226041760
ReturnHeader/PreparerPersonGrp/PhoneNum05406623417
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0OLIVIA A HUTTON CPA
ReturnHeader/ReturnTs02016-08-02T14:36:24-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-01-01
ReturnHeader/TaxPeriodEndDt02015-12-31
ReturnHeader/TaxYr02015

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$337,356
Liabilities
$0
Net assets
$337,356
Revenue
$14,685,120
Expenses
$14,347,764
Net income
$337,356
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2015Detailed filing. Detailed filing data is available for this year.$0.34$0.00$0.34$14.7$14.3$0.34