Civic Intelligence

Pattern Inc

990 • Fiscal year 2022 • EIN 47-4197760

Jan 01, 2022 to Dec 31, 2022 • Filed on Aug 30, 2023

12664 Tuscany BlvdCarmel, IN 46032

(317) 752-1476

Siviq Scores

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

Liabilities / Assets

87th percentile

0.35x

Higher debt load relative to assets than 87% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

86th percentile

0.19x

Higher debt load relative to revenue than 86% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Net Margin

34th percentile

-3.4%

Higher net margin than 34% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2022

Asset Growth

51st percentile

1.6%

Faster asset growth than 51% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

59th percentile

20%

Faster revenue growth than 59% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Assets

Up

$250,726

Up $3,864 (+1.6%) from 2021

Net Assets

Down

$162,874

Down $15,522 (-8.7%) from 2021

Liabilities

Up

$87,852

Up $19,386 (+28%) from 2021

Revenue

Up

$451,618

Up $75,266 (+20%) from 2021

Expenses

Up

$467,140

Up $145,735 (+45%) from 2021

Net Income

Down

-$15,522

Down $70,469 (-128%) from 2021

Historical Trend

Balance Sheet Trend

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

$1.0M$500K$0Assets 2015: $38,354Liabilities 2015: $0Net Assets 2015: $38,3542015Assets 2016: $52,282Liabilities 2016: $0Net Assets 2016: $52,2822016Assets 2017: $76,930Liabilities 2017: $0Net Assets 2017: $76,9302017Assets 2018: $77,444Liabilities 2018: $0Net Assets 2018: $77,4432018Assets 2019: $89,574Liabilities 2019: $150Net Assets 2019: $89,4242019Assets 2020: $201,450Liabilities 2020: $78,000Net Assets 2020: $123,4502020Assets 2021: $246,862Liabilities 2021: $68,466Net Assets 2021: $178,3962021Assets 2022: $250,726Liabilities 2022: $87,852Net Assets 2022: $162,8742022Assets 2023: $413,502Liabilities 2023: $72,210Net Assets 2023: $341,2922023Assets 2024: $816,379Liabilities 2024: $66,477Net Assets 2024: $749,9022024

Highlighted filing

2022

Assets$250,726
Liabilities$87,852
Net Assets$162,874

Operations Trend

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

$1.5M$1.0M$500K$0-$500KRevenue 2015: $116,267Expenses 2015: $90,398Net Income 2015: $25,8692015Revenue 2016: $112,382Expenses 2016: $82,983Net Income 2016: $29,3992016Revenue 2017: $103,761Expenses 2017: $79,113Net Income 2017: $24,6482017Revenue 2018: $142,983Expenses 2018: $142,465Net Income 2018: $5182018Revenue 2019: $165,606Expenses 2019: $153,127Net Income 2019: $12,4792019Revenue 2020: $223,642Expenses 2020: $189,707Net Income 2020: $33,9352020Revenue 2021: $376,352Expenses 2021: $321,405Net Income 2021: $54,9472021Revenue 2022: $451,618Expenses 2022: $467,140Net Income 2022: -$15,5222022Revenue 2023: $950,963Expenses 2023: $772,545Net Income 2023: $178,4182023Revenue 2024: $1,380,542Expenses 2024: $971,932Net Income 2024: $408,6102024

Highlighted filing

2022

Revenue$451,618
Expenses$467,140
Net Income-$15,522
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Aug 30, 2023
Return Version
2022v5.0
Gross Receipts
$451,618
Mission and Program Overview

Mission

Pattern, Inc. provides support to Central Indianas creative/maker industries in the form of business resources, exposure, education, and advocacy.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$107,332$101,743▼ $5,589
Accounts Receivable$24,061$75,263▲ $51,202
Cash and Non-Interest-Bearing Accounts$115,469$70,221▼ $45,248
Land, Buildings, and Equipment, Net-$3,499-
Total Assets$246,862$250,726▲ $3,864
Liabilities
Mortgage Notes Payable Secured by Investment Property$68,415$64,917▼ $3,498
Accounts Payable and Accrued Expenses$51$22,935▲ $22,884
Total Liabilities$68,466$87,852▲ $19,386
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$178,396$162,874▼ $15,522
Total Net Assets Fund Balance$178,396$162,874▼ $15,522
Total Liabilities and Net Assets / Fund Balance$246,862$250,726▲ $3,864

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$3,499--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Polina OsherovExectuive DirectorFT$40,689$40,689

Board Members and Trustees

NameTitle
Barry WormserBoard MemberChair
Ace YakeyBoard Member
Alan BaconBoard Member
Casey CawthonBoard Member
Fred LockettBoard Member
Isaac BamgboseBoard Member
Lindsey MacyauskiBoard Member
Melanie AllenBoard Member
Micah SmithBoard Member
Michael AultBoard Member
Michelle GriffithBoard Member
NaShara MitchellBoard Member
Yemisi SanniBoard Member
Sara SavuBoard MemberTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$102,869
Program Service Revenue
$348,340
Investment Income
$11
Other Revenue
$398
All Other Contributions
$102,869
Change in Net Assets
$-15,522
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$349,633
Salaries, Compensation, and Employee Benefits$106,681
Professional Fundraising Fees$10,826
Total Fundraising Expense$10,826
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$67,236-$67,236
Other Expenses$50,612--$50,612
Current Officers, Directors, Trustees, and Key Employees-$34,500-$34,500
Occupancy$18,975$12,010-$30,985
Fees for Services Professional Fundraising--$10,826$10,826
Advertising-$7,762-$7,762
All Other Expenses-$6,158-$6,158
Fees for Services Accounting-$5,390-$5,390
Payroll Taxes-$4,945-$4,945
Office Expenses-$4,004-$4,004
Interest-$3,722-$3,722
Travel-$3,078-$3,078
Insurance-$3,020-$3,020
Conferences and Meetings-$891-$891
Fees for Services Management-$418-$418
Total Functional Expenses$303,180$153,134$10,826$467,140
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$10,826
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
Backup withholding compliance
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
Yes
Other officer compensation reviewed
Yes
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

The Form 990 is reviewed in detail by the executive director. Following the review, all board members are provided a copy of the Form 990 to review and ask questions or revise before it is filed with the IRS.

Conflict of interest policy compliance Part VI line 12C

Conflict of interest policy questionnaires are completed annually by all board members. If a conflict of interest arises, the board must bring the conflict to the attention of the executive director. The interested person shall recuse himself or herself from the deliberations and voting relation to the matter. They shall also submit a new conflict of interest questionnaire disclosing the relevant changes in circumstances.

CEO executive director top management comp Part VI line 15A

The board of directors reviews local data of similar organizations to make sure salaries for directors and top managment are comparable. The board of directors approves all salaries.

Other officer or key employee compensation Part VI line 15B

The board of directors reviews local data of similar organizations to make sure salaries and wages are comparable.

Governing documents etc available to public Part VI line 19

The governing documents, conflict of interest policy, and financial statements are held with the executive director and board members and are available upon request.

Filing and Contact Details

Filer

Filer Name
Pattern Inc
EIN
47-4197760
Address
12664 Tuscany Blvd, Carmel, IN 46032

Signing Officer

Name
Polina Osherov
Title
Exectuive Direc
Phone
3177521476
Signed
2023-08-30
Discuss with paid preparer
Yes

Organization Details

Formed
2014
Legal Domicile
In
Voting Board Members
14
Independent Board Members
14
Employees
3
Volunteers
50

Preparer

Firm
McBride CPAs
Address
370 Carmelview Drive, Carmel, IN 46032
Preparer
Kala McBride
Phone
3175192348
Supplemental Narrative

Additional Explanations

Part III response or note to any other line in Part III

Pattern is a 501(c)(3) non- profit organization that provides educational, economic, and community building opportunities in Central Indiana, primarily serving those interested in fashion and other creative pursuits, or otherwise making and hand-crafting tangible products. While the fashion and maker communities are valued and strong in certain parts of the U.S., Central Indiana is not yet a large contributer, because few resources have been made available to invest in and strengthen an industry infrastructure that currently exists in disparate, underserved segments throughout the area. Pattern was organized to close the gaps through education opportunities, programming, and initiatives that connect, serve, and showcase this maker community. Attachment 1, Form 990, Part III, Program Services, Line 4A: Stitchworks, a program of Patterns, operates as a small batch sewing facility offering production services to indie fashion designers and entrepreneurs by establishing a full time cut and sew facility while simultaneously creating a pipeline of sewing talent in our region. In 2021, Pattern launched an Industrial sewing certificate program to address the dire shortage of industrial machine operators.

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IRS990/ProgSrvcAccomActy2Grp/Desc0Pattern hosts regular meetups via the www.meetup.com and www.eventbrite.com website with the purpose of growing, educating, and unifying an all-inclusive community of fashion lovers, students, professionals and enthusiasts. The meetups are held on a regular basis, open to the public, and each focuses on a different educational topic relevant to our community. The format of the meetups varies from having a panel of experts, bringing in guests speakers, or having networking events. Pattern has also funded a project to turn an old city bus into a pop up boutique and a retail incubator to bring awareness to Pattern projects and provide opportunities for makers to sell or exhibit their work.
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IRS990/ProgSrvcAccomActy3Grp/Desc0In support of the mission of the organization, Pattern publishes a bi-annual magazine that provides fashion/maker industry personnel the opportunity to work in their field and to otherwise hone their professional skills in a professional enviroment and educates the broader community about our mission. The publication is sold at Patterns events and local bookstores. All proceeds, if any, go towards the organizations programming needs. Pattern also maintains a website, which is a digital extension of the printed magazine. Access to the website and its content is free.
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IRS990/ProgSrvcAccomActyOtherGrp/Desc0See Schedule O.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Form 990 is reviewed in detail by the executive director. Following the review, all board members are provided a copy of the Form 990 to review and ask questions or revise before it is filed with the IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Conflict of interest policy questionnaires are completed annually by all board members. If a conflict of interest arises, the board must bring the conflict to the attention of the executive director. The interested person shall recuse himself or herself from the deliberations and voting relation to the matter. They shall also submit a new conflict of interest questionnaire disclosing the relevant changes in circumstances.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The board of directors reviews local data of similar organizations to make sure salaries for directors and top managment are comparable. The board of directors approves all salaries.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The board of directors reviews local data of similar organizations to make sure salaries and wages are comparable.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The governing documents, conflict of interest policy, and financial statements are held with the executive director and board members and are available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Pattern is a 501(c)(3) non- profit organization that provides educational, economic, and community building opportunities in Central Indiana, primarily serving those interested in fashion and other creative pursuits, or otherwise making and hand-crafting tangible products. While the fashion and maker communities are valued and strong in certain parts of the U.S., Central Indiana is not yet a large contributer, because few resources have been made available to invest in and strengthen an industry infrastructure that currently exists in disparate, underserved segments throughout the area. Pattern was organized to close the gaps through education opportunities, programming, and initiatives that connect, serve, and showcase this maker community. Attachment 1, Form 990, Part III, Program Services, Line 4A: Stitchworks, a program of Patterns, operates as a small batch sewing facility offering production services to indie fashion designers and entrepreneurs by establishing a full time cut and sew facility while simultaneously creating a pipeline of sewing talent in our region. In 2021, Pattern launched an Industrial sewing certificate program to address the dire shortage of industrial machine operators.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Other officer or key employee compensation Part VI line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Part III response or note to any other line in Part III
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