Civic Intelligence

Lextran Foundation Inc.

990 • Fiscal year 2018 • EIN 47-3644429

Jul 01, 2017 to Jun 30, 2018 • Filed on Oct 22, 2018

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.

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

Liabilities / Revenue

100th percentile

100.00x

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

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

Net Margin

81st percentile

24%

Higher net margin than 81% of similar nonprofits.

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

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.

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

Asset Growth

44th percentile

0.2%

Faster asset growth than 44% 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 / Assets92nd percentile

Assets

Up

$8,376,274

Up $20,296 (+0.2%) from 2017

Net Assets

Up

$21,274

Up $20,296 (+2075%) from 2017

Liabilities

Flat

$8,355,000

Flat from 2017

Revenue And Expenses
Liabilities / Revenue100th percentileNet Margin81st percentile

Revenue

Flat

$83,550

Flat from 2017

Expenses

Down

$63,254

Down $106,117 (-63%) from 2017

Net Income

Up

$20,296

Up $106,117 (+124%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth44th 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

2018

Assets$8,376,274
Liabilities$8,355,000
Net Assets$21,274
Open 2018 Filing

Operations Trend

Revenue Growth38th 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

2018

Revenue$83,550
Expenses$63,254
Net Income$20,296
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Oct 22, 2018
Return Version
2017v2.2
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$978$21,274▲ $20,296
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
Loans From Officers Directors-$0-
Total Assets$8,355,978$8,376,274▲ $20,296
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$978$21,274▲ $20,296
Total Net Assets Fund Balance$978$21,274▲ $20,296
Total Liabilities and Net Assets / Fund Balance$8,355,978$8,376,274▲ $20,296
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
$20,296
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$63,254
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$63,254$0$0$63,254
Total Functional Expenses$63,254$0$0$63,254
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
Loans from Officers, Directors, Trustees, and Key Employees-$0-
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 8B Documentation of meetings held by committees of governing body

“The organization does not have any other committees.”

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.”

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
2018-10-22
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 Llp
Address
9600 Brownsboro Road Suite 400, Louisville, KY 40241-1122
Preparer
Kim Scifres
Phone
5023263996
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G Other Expenses

“Miscellaneous Expenses - Total Expense: 63254, Program Service Expense: 63254, Management and General Expenses: , Fundraising Expenses: ;”

Financial Statement Notes

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

“As of June 30, 2018, the Authority had not received the final project closeout for all grants for the years ended June 30, 2018. 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 Appendix362 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/ExplanationTxt3The organization does not have any other committees.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4A complete copy of the 990 is provided to every member of the board of the governing body prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5All 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/ExplanationTxt6An 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/ExplanationTxt7Miscellaneous Expenses - Total Expense: 63254, Program Service Expense: 63254, 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 8b Documentation of meetings held by committees of governing body
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 11b Review of form 990 by governing body
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Line 12c Conflict of interest policy
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part VI, Line 19 Required documents available to the public
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990, Part IX, Line 11g Other Expenses
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0KY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1KY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0Support of Lextran Foundation
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1Provides Public Transportation to Residents
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0Type I
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0200 W Loudon Ave
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt1200 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/TotalAssetsBOYAmt08355978
IRS990/TotalAssetsEOYAmt08376274
IRS990/TotalAssetsGrp/BOYAmt08355978
IRS990/TotalAssetsGrp/EOYAmt08376274
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt063254
IRS990/TotalFunctionalExpensesGrp/TotalAmt063254
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt08355000
IRS990/TotalLiabilitiesEOYAmt08355000
IRS990/TotalLiabilitiesGrp/BOYAmt08355000
IRS990/TotalLiabilitiesGrp/EOYAmt08355000
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0978
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt021274
IRS990/TotalOtherCompensationAmt00
IRS990/TotalOthProgramServiceRevGrp/ExclusionAmt00
IRS990/TotalOthProgramServiceRevGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt00
IRS990/TotalOthProgramServiceRevGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalProgramServiceExpensesAmt063254
IRS990/TotalProgramServiceRevenueAmt083550
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt083550
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt083550
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt04
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt08355978
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt08376274
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0978
IRS990/UnrestrictedNetAssetsGrp/EOYAmt021274
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/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Jeff Fugate
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-10-22
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 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/PreparerPersonNm0Kim Scifres
ReturnHeader/ReturnTs02018-10-22T13:00:25-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-07-01
ReturnHeader/TaxPeriodEndDt02018-06-30
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$8,376,274
Liabilities
$8,355,000
Net assets
$21,274
Revenue
$83,550
Expenses
$63,254
Net income
$20,296
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