Civic Intelligence

Lextran Foundation Inc.

990 • Fiscal year 2017 • EIN 47-3644429

Jul 01, 2016 to Jun 30, 2017 • Filed on Oct 04, 2017

Organization ProfileN/A
200 W Loudon AveLexington, KY 40508

(859) 255-7756

Siviq Scores

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

Liabilities / Assets

92nd percentile

1.00x

Higher debt load relative to assets than 92% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Liabilities / Revenue

100th percentile

100.00x

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

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Net Margin

3rd percentile

-103%

Higher net margin than 3% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Top Officer Pay

20th percentile

$0

Higher top officer pay than 20% of similar nonprofits.

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

2017 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2017

Asset Growth

30th percentile

-1.0%

Faster asset growth than 30% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Revenue Growth

26th percentile

-3.7%

Faster revenue growth than 26% of similar nonprofits.

2017 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets92nd percentile

Assets

Down

$8,355,978

Down $85,821 (-1.0%) from 2016

Net Assets

Down

$978

Down $85,821 (-99%) from 2016

Liabilities

Flat

$8,355,000

Flat from 2016

Revenue And Expenses
Liabilities / Revenue100th percentileNet Margin3rd percentile

Revenue

Down

$83,550

Down $3,249 (-3.7%) from 2016

Expenses

Up

$169,371

Up $169,371 from 2016

Net Income

Down

-$85,821

Down $172,620 (-199%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth30th percentile

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

$10M$5.0M$0Assets 2015: $8,355,000Liabilities 2015: $8,355,000Net Assets 2015: $02015Assets 2016: $8,441,799Liabilities 2016: $8,355,000Net Assets 2016: $86,7992016Assets 2017: $8,355,978Liabilities 2017: $8,355,000Net Assets 2017: $9782017Assets 2018: $8,376,274Liabilities 2018: $8,355,000Net Assets 2018: $21,2742018Assets 2019: $8,375,872Liabilities 2019: $8,355,000Net Assets 2019: $20,8722019Assets 2020: $8,459,174Liabilities 2020: $8,355,000Net Assets 2020: $104,1742020Assets 2021: $8,542,497Liabilities 2021: $8,355,000Net Assets 2021: $187,4972021Assets 2022: $8,625,838Liabilities 2022: $8,355,000Net Assets 2022: $270,8382022Assets 2023: $0Liabilities 2023: $0Net Assets 2023: $02023

Highlighted filing

2017

Assets$8,355,978
Liabilities$8,355,000
Net Assets$978
Open 2017 Filing

Operations Trend

Revenue Growth26th percentile

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

$200K$100K$0-$100KRevenue 2015: $0Expenses 2015: $0Net Income 2015: $02015Revenue 2016: $86,799Expenses 2016: $0Net Income 2016: $86,7992016Revenue 2017: $83,550Expenses 2017: $169,371Net Income 2017: -$85,8212017Revenue 2018: $83,550Expenses 2018: $63,254Net Income 2018: $20,2962018Revenue 2019: $83,550Expenses 2019: $83,952Net Income 2019: -$4022019Revenue 2020: $83,550Expenses 2020: $248Net Income 2020: $83,3022020Revenue 2021: $83,550Expenses 2021: $227Net Income 2021: $83,3232021Revenue 2022: $83,550Expenses 2022: $209Net Income 2022: $83,3412022Revenue 2023: $3,249Expenses 2023: $0Net Income 2023: $3,2492023

Highlighted filing

2017

Revenue$83,550
Expenses$169,371
Net Income-$85,821
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Oct 4, 2017
Return Version
2016v3.0
Gross Receipts
$83,550
Mission and Program Overview

Mission

Lextran Foundation, Inc. serves as the leverage lender in order to finance the Lextran Headquarters New Markets Tax Credit Project.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$8,355,000$8,355,000→ $0
Cash and Non-Interest-Bearing Accounts$86,799$978▼ $85,821
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0--
Investments Program Related$0--
Land, Buildings, and Equipment, Net$0$0→ $0
Total Assets$8,441,799$8,355,978▼ $85,821
Other Assets Total$0$0→ $0
Liabilities
Other Liabilities$8,355,000$8,355,000→ $0
Total Liabilities$8,355,000$8,355,000→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$86,799$978▼ $85,821
Total Net Assets Fund Balance$86,799$978▼ $85,821
Total Liabilities and Net Assets / Fund Balance$8,441,799$8,355,978▼ $85,821
Compensation and Service Providers
Top Officer Pay20th percentile

Board Members and Trustees

NameTitle
-President
-Secretary
-Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$83,550
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-85,821
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$169,371
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$169,371$0$0$169,371
Total Functional Expenses$169,371$0$0$169,371
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

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Transit Authority of Lexington-Fayette Urban County Government$8,355,000
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 15A Process to Establish Compensation

“None of the directors or officers are compensated, therefore the Form 990 instructions require this to be answered "no."”

Form 990, Part VI, Line 15B Process to Establish Compensation

“None of the directors or officers are compensated, therefore the Form 990 instructions require this to be answered "no."”

Form 990, Part VI, Line 7A Members or stockholders electing members of governing body

“The boards of directors of the Foundation and Lextran Real Properties are appointed by the Lextran board of directors and the organizations are set up for exclusive benefit of the Authority.”

Form 990, Part VI, Line 11B Review of form 990 by governing body

“A complete copy of the 990 is provided to every member of the board of the governing body prior to filing.”

Form 990, Part VI, Line 12C Conflict of interest policy

“All board members must annually, or at time of change in relationship, fill out a conflict of interest policy. All statements are reviewed by management. If a conflict of interest exists, the member involved in the conflict shall abstain from voting on issues related to that conflict.”

Form 990, Part VI, Line 19 Required documents available to the public

“An organizations financial statements, governing documents, and conflict of interest policies are not required disclosures pursuant to Internal Revenue Code (IRC) Section 6104. These documents are not available to the public at this time.”

Form 990, Part VIII, Line 2F Other Program Service Revenue

“Other Revenue - Total Revenue: 83550, Related or Exempt Function Revenue: 83550, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ;”

Filing and Contact Details

Filer

Filer Name
Lextran Foundation Inc
EIN
47-3644429
Phone
8592557756
Address
200 W Loudon Ave, Lexington, KY 40508

Signing Officer

Name
Jeff Fugate
Title
President
Signed
2017-10-04
Discuss with paid preparer
Yes

Organization Details

Formed
2015
Legal Domicile
Ky
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
4

Preparer

Firm
Crowe Horwath Llp
Address
9600 Brownsboro Road Suite 400, Louisville, KY 40241-1122
Preparer
Rachel Spurlock
Phone
5023263996
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G Other Expenses

“Miscellaneous Expenses - Total Expense: 169371, Program Service Expense: 169371, Management and General Expenses: , Fundraising Expenses: ;”

Financial Statement Notes

Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote

“As of June 30, 2017, the Authority had not received the final project closeout for all grants for the years ended June 30, 2017. A final project closeout represents that the project has been completed and totally funded with final approval by the Inspector General. Management does not believe that there will be any material audit adjustments to the grants by the Inspector General; therefore, no provision for such has been reflected in the financial statements. The Authority is involved in various claims and arbitrations involving former employees and certain other matters. Since the possibility of loss is not probable or measurable in management's current estimation, no loss has been recorded in the Authority's financial statements.”

Raw XML Appendix355 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0None of the directors or officers are compensated, therefore the Form 990 instructions require this to be answered "no."
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1None of the directors or officers are compensated, therefore the Form 990 instructions require this to be answered "no."
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The boards of directors of the Foundation and Lextran Real Properties are appointed by the Lextran board of directors and the organizations are set up for exclusive benefit of the Authority.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3A complete copy of the 990 is provided to every member of the board of the governing body prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4All board members must annually, or at time of change in relationship, fill out a conflict of interest policy. All statements are reviewed by management. If a conflict of interest exists, the member involved in the conflict shall abstain from voting on issues related to that conflict.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5An organizations financial statements, governing documents, and conflict of interest policies are not required disclosures pursuant to Internal Revenue Code (IRC) Section 6104. These documents are not available to the public at this time.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Other Revenue - Total Revenue: 83550, Related or Exempt Function Revenue: 83550, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ;
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7Miscellaneous Expenses - Total Expense: 169371, Program Service Expense: 169371, Management and General Expenses: , Fundraising Expenses: ;
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 15a Process to Establish Compensation
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 15b Process to Establish Compensation
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 7a Members or stockholders electing members of governing body
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 11b Review of form 990 by governing body
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 12c Conflict of interest policy
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Line 19 Required documents available to the public
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part VIII, Line 2f Other Program Service Revenue
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990, Part IX, Line 11g Other Expenses
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0Support of Lextran Foundation
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1Provides Public Transportation to Residents
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt011
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0109 W Loudon Ave
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt1109 W Loudon Ave
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Lexington
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm1Lexington
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0KY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd1KY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd040508
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd140508
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0true
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0true
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0KY
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt08441799
IRS990/TotalAssetsEOYAmt08355978
IRS990/TotalAssetsGrp/BOYAmt08441799
IRS990/TotalAssetsGrp/EOYAmt08355978
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0169371
IRS990/TotalFunctionalExpensesGrp/TotalAmt0169371
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt08355000
IRS990/TotalLiabilitiesEOYAmt08355000
IRS990/TotalLiabilitiesGrp/BOYAmt08355000
IRS990/TotalLiabilitiesGrp/EOYAmt08355000
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt086799
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0978
IRS990/TotalOtherCompensationAmt00
IRS990/TotalOthProgramServiceRevGrp/ExclusionAmt00
IRS990/TotalOthProgramServiceRevGrp/RelatedOrExemptFuncIncomeAmt083550
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt083550
IRS990/TotalOthProgramServiceRevGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalProgramServiceExpensesAmt0169371
IRS990/TotalProgramServiceRevenueAmt083550
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt083550
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt083550
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt04
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt08441799
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt08355978
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt086799
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0978
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0200 W Loudon Ave
IRS990/USAddress/CityNm0Lexington
IRS990/USAddress/StateAbbreviationCd0KY
IRS990/USAddress/ZIPCd040508
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Jeff Fugate
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-10-04
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Lextran Foundation Inc
ReturnHeader/Filer/BusinessNameControlTxt0LEXT
ReturnHeader/Filer/EIN0473644429
ReturnHeader/Filer/PhoneNum08592557756
ReturnHeader/Filer/USAddress/AddressLine1Txt0200 W Loudon Ave
ReturnHeader/Filer/USAddress/CityNm0Lexington
ReturnHeader/Filer/USAddress/StateAbbreviationCd0KY
ReturnHeader/Filer/USAddress/ZIPCd040508
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0350921680
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CROWE HORWATH LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt09600 Brownsboro Road Suite 400
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Louisville
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0KY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0402411122
ReturnHeader/PreparerPersonGrp/PhoneNum05023263996
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Rachel Spurlock
ReturnHeader/ReturnTs02017-10-09T14:00:20-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-07-01
ReturnHeader/TaxPeriodEndDt02017-06-30
ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$8,355,978
Liabilities
$8,355,000
Net assets
$978
Revenue
$83,550
Expenses
$169,371
Net income
-$85,821
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.00$0.00$0.00
2022Detailed filing. Detailed filing data is available for this year.$8.63$8.36$0.27$0.08$0.00$0.08
2021Detailed filing. Detailed filing data is available for this year.$8.54$8.36$0.19$0.08$0.00$0.08
2020Detailed filing. Detailed filing data is available for this year.$8.46$8.36$0.10$0.08$0.00$0.08
2019Detailed filing. Detailed filing data is available for this year.$8.38$8.36$0.02$0.08$0.08$0.00
2018Detailed filing. Detailed filing data is available for this year.$8.38$8.36$0.02$0.08$0.06$0.02
2017Detailed filing. Detailed filing data is available for this year.$8.36$8.36$0.00$0.08$0.17$0.09
2016Detailed filing. Detailed filing data is available for this year.$8.44$8.36$0.09$0.09$0.00$0.09
2015Detailed filing. Detailed filing data is available for this year.$8.36$8.36$0.00$0.00$0.00$0.00