Civic Intelligence

Iris Foundation

990 • Fiscal year 2019 • EIN 47-4623746

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 14, 2020

Organization ProfileWWW.IRISFOUNDATION.ORG
2502 N Clark St 200Chicago, IL 60614

(312) 858-7424

Siviq Scores

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

Liabilities / Assets

98th percentile

4.24x

Higher debt load relative to assets than 98% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

72nd percentile

0.02x

Higher debt load relative to revenue than 72% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Net Margin

39th percentile

-0.5%

Higher net margin than 39% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Top Officer Pay

97th percentile

$82,747

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 98.0% of source-year revenue.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Asset Growth

10th percentile

-46%

Faster asset growth than 10% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

32nd percentile

-11%

Faster revenue growth than 32% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets98th percentile

Assets

Down

$472

Down $407 (-46%) from 2018

Net Assets

Down

-$1,528

Down $407 (-36%) from 2018

Liabilities

Flat

$2,000

Flat from 2018

Revenue And Expenses
Liabilities / Revenue72nd percentileNet Margin39th percentile

Revenue

Down

$84,462

Down $10,713 (-11%) from 2018

Expenses

Down

$84,869

Down $13,033 (-13%) from 2018

Net Income

Up

-$407

Up $2,320 (+85%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth10th percentile

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

$300K$200K$100K$0-$100KAssets 2015: $216,472Liabilities 2015: $0Net Assets 2015: $216,4722015Assets 2016: $21,310Liabilities 2016: $11,349Net Assets 2016: $9,9612016Assets 2017: $6,316Liabilities 2017: $0Net Assets 2017: $6,3162017Assets 2018: $879Liabilities 2018: $2,000Net Assets 2018: -$1,1212018Assets 2019: $472Liabilities 2019: $2,000Net Assets 2019: -$1,5282019Assets 2020: $8,160Liabilities 2020: $2,000Net Assets 2020: $6,1602020

Highlighted filing

2019

Assets$472
Liabilities$2,000
Net Assets-$1,528
Open 2019 Filing

Operations Trend

Revenue Growth32nd percentile

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

$400K$200K$0-$200K-$400KRevenue 2015: $250,000Expenses 2015: $33,528Net Income 2015: $216,4722015Revenue 2016: $22,000Expenses 2016: $228,511Net Income 2016: -$206,5112016Revenue 2017: $36,547Expenses 2017: $40,192Net Income 2017: -$3,6452017Revenue 2018: $95,175Expenses 2018: $97,902Net Income 2018: -$2,7272018Revenue 2019: $84,462Expenses 2019: $84,869Net Income 2019: -$4072019Revenue 2020: $88,000Expenses 2020: $80,312Net Income 2020: $7,6882020

Highlighted filing

2019

Revenue$84,462
Expenses$84,869
Net Income-$407
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 14, 2020
Return Version
2019v5.0
Gross Receipts
$84,462
Mission and Program Overview

Mission

The iris foundation (the "foundation") exists to support the application, engagement and dissemination of "first principles thinking" in science, education, community, development and civic engagement.the foundation is organized exclusively for charitable, scientific, and educational purposes within the meaning of section 501(c)(3) of the internal revenue code, including the advancement of education, science and social science by conducting labs, case studies, discussion groups, forums, panels, lecturs, and similar programs.the foundation will offer its facilities and resources to individuals and organizations, including students, professors, and universities, initially with a focus on those students, professors, and universities located within illinois including, without limitaiton, the university of illinois at champaign-urbana, to support labs and case studies to test concepts and generate data to effectuate social and community benefits. The results of these labs will be available

Balance Sheet Detail
LineBeginningEndChange
Assets
Loans From Officers Directors$2,000$2,000→ $0
Cash and Non-Interest-Bearing Accounts$879$472▼ $407
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$879$472▼ $407
Other Assets Total-$0-
Liabilities
Total Liabilities$2,000$2,000→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-1,121$-1,528▼ $407
Total Net Assets Fund Balance$-1,121$-1,528▼ $407
Total Liabilities and Net Assets / Fund Balance$879$472▼ $407
Compensation and Service Providers
Top Officer Pay97th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Pericles ToscasExecutive DirectorPT$82,747$82,747

Board Members and Trustees

NameTitle
Thananuan ChariyaVice President
Oliver DerzaSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$84,462
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-407
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$82,747
Other Expenses$2,122
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$74,472$8,275-$82,747
Other Expenses$146$16-$162
Total Functional Expenses$76,410$8,459$0$84,869
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$2,000$2,000→ $0
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
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, Part VI, Line 11B: Form 990 Review Process

“Review and inspection by committee”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“All potential conflicts subject to review and approval by governing body”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“Compensation based on sutdy of public data on salaries for comparable positions, responsibilities and duties.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“Any hiring or compensation to be reviewed and approved based on comparable market data for position.”

Form 990, Part VI, Line 18: Explanation of Other Means Forms Available For Public Inspection

“Available for public inspection upon request.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Available for public inspection upon request.”

Filing and Contact Details

Filer

Filer Name
Iris Foundation
EIN
47-4623746
Phone
3128587424
Address
2502 N CLARK ST 200, CHICAGO, IL 60614

Signing Officer

Name
Pericles Toscas
Title
Executive Director
Signed
2020-11-14
Discuss with paid preparer
Yes

Organization Details

Formed
2015
Legal Domicile
Il
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
8

Preparer

Firm
George Bagley & Company LLC
Address
17W220 22ND STREET STE 500, OAKBROOK TERRACE, IL 60181
Preparer
Michael D Chandler Ii CPA
Phone
6309900355
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL POTENTIAL CONFLICTS SUBJECT TO REVIEW AND APPROVAL BY GOVERNING BODY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COMPENSATION BASED ON SUTDY OF PUBLIC DATA ON SALARIES FOR COMPARABLE POSITIONS, RESPONSIBILITIES AND DUTIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ANY HIRING OR COMPENSATION TO BE REVIEWED AND APPROVED BASED ON COMPARABLE MARKET DATA FOR POSITION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 18: Explanation of Other Means Forms Available For Public Inspection
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ReturnHeader/BuildTS02021-01-29 14:40:06Z
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ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Director
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0GEORGE BAGLEY & COMPANY LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt017W220 22ND STREET STE 500
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0OAKBROOK TERRACE
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd060181
ReturnHeader/PreparerPersonGrp/PhoneNum06309900355
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MICHAEL D CHANDLER II CPA
ReturnHeader/ReturnTs02020-11-15T11:31:45-08:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$472
Liabilities
$2,000
Net assets
-$1,528
Revenue
$84,462
Expenses
$84,869
Net income
-$407
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.08$0.02$0.06$0.88$0.80$0.08
2019Detailed filing. Detailed filing data is available for this year.$0.00$0.02$0.02$0.84$0.85$0.00
2018Summary only. Only limited summary data is available for this year.$0.01$0.02$0.01$0.95$0.98$0.03
2017Summary only. Only limited summary data is available for this year.$0.06$0.00$0.06$0.37$0.40$0.04
2016Summary only. Only limited summary data is available for this year.$0.21$0.11$0.10$0.22$2.29$2.07
2015Summary only. Only limited summary data is available for this year.$2.16$0.00$2.16$2.50$0.34$2.16
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2019 filings • 501(c)3 • <$500k nonprofits