Civic Intelligence

Notley Foundation

990 • Fiscal year 2016 • EIN 47-5295639

Jan 01, 2016 to Dec 31, 2016 • Filed on Nov 15, 2017

1408 E 14th StAustin, TX 78702

(512) 472-4486

Siviq Scores

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

Liabilities / Assets

29th percentile

0.02x

Higher debt load relative to assets than 29% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

20th percentile

0.01x

Higher debt load relative to revenue than 20% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

92nd percentile

49%

Higher net margin than 92% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2016

Asset Growth

100th percentile

2047%

Faster asset growth than 100% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

100th percentile

2039%

Faster revenue growth than 100% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Assets

Up

$652,640

Up $622,246 (+2047%) from 2015

Net Assets

Up

$640,927

Up $621,495 (+3198%) from 2015

Liabilities

Up

$11,713

Up $751 (+6.9%) from 2015

Revenue

Up

$1,283,626

Up $1,223,626 (+2039%) from 2015

Expenses

Up

$656,041

Up $615,473 (+1517%) from 2015

Net Income

Up

$627,585

Up $608,153 (+3130%) from 2015

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2015: $30,394Liabilities 2015: $10,962Net Assets 2015: $19,4322015Assets 2016: $652,640Liabilities 2016: $11,713Net Assets 2016: $640,9272016Assets 2017: $546,564Liabilities 2017: $123,001Net Assets 2017: $423,5632017Assets 2018: $3,963,796Liabilities 2018: $76,947Net Assets 2018: $3,886,8492018Assets 2019: $2,701,003Liabilities 2019: $404,128Net Assets 2019: $2,296,8752019Assets 2020: $2,525,162Liabilities 2020: $174,774Net Assets 2020: $2,350,3882020Assets 2021: $4,410,098Liabilities 2021: $758,491Net Assets 2021: $3,651,6072021Assets 2022: $2,706,890Liabilities 2022: $86,972Net Assets 2022: $2,619,9182022Assets 2023: $2,170,902Liabilities 2023: $78,331Net Assets 2023: $2,092,5712023Assets 2024: $1,919,391Liabilities 2024: $64,727Net Assets 2024: $1,854,6642024

Highlighted filing

2016

Assets$652,640
Liabilities$11,713
Net Assets$640,927

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2015: $60,000Expenses 2015: $40,568Net Income 2015: $19,4322015Revenue 2016: $1,283,626Expenses 2016: $656,041Net Income 2016: $627,5852016Revenue 2017: $492,747Expenses 2017: $710,110Net Income 2017: -$217,3632017Revenue 2018: $4,299,868Expenses 2018: $836,582Net Income 2018: $3,463,2862018Revenue 2019: $972,217Expenses 2019: $2,636,009Net Income 2019: -$1,663,7922019Revenue 2020: $4,464,040Expenses 2020: $4,670,644Net Income 2020: -$206,6042020Revenue 2021: $4,638,752Expenses 2021: $3,583,243Net Income 2021: $1,055,5092021Revenue 2022: $2,162,941Expenses 2022: $3,403,504Net Income 2022: -$1,240,5632022Revenue 2023: $901,690Expenses 2023: $1,419,573Net Income 2023: -$517,8832023Revenue 2024: $1,017,792Expenses 2024: $1,137,896Net Income 2024: -$120,1042024

Highlighted filing

2016

Revenue$1,283,626
Expenses$656,041
Net Income$627,585
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Nov 15, 2017
Return Version
2016v3.0
Gross Receipts
$1,283,626
Mission and Program Overview

Mission

Notley's mission is to fund and support businesses, non-profits, and programs making positive change and social impact in the world.

Notley invests in nonprofits and social impact companies that are ready to scale. From capital to coaching and from operations to mentorship, we tailor our support to the individual needs of each organization in our family. As part of our commitment to diversity, we actively seek out and support promising ventures run by women and minorities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments-$471,055-
Investments Other Securities-$150,001-
Accounts Receivable-$34,163-
Other Notes and Loans Receivable, Net-$20,199-
Prepaid Expenses and Deferred Charges-$350-
Cash and Non-Interest-Bearing Accounts$30,394$-23,128▼ $53,522
Total Assets$30,394$652,640▲ $622,246
Liabilities
Accounts Payable and Accrued Expenses$10,962$9,713▼ $1,249
Grants Payable-$2,000-
Total Liabilities$10,962$11,713▲ $751
Net Assets / Fund Balance
Unrestricted Net Assets$19,432$640,927▲ $621,495
Total Net Assets Fund Balance$19,432$640,927▲ $621,495
Total Liabilities and Net Assets / Fund Balance$30,394$652,640▲ $622,246

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$150,001--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Sara LevyExecutive DirectorFT$137,500$137,500

Board Members and Trustees

NameTitle
Michael NellisACF Director
Rob RepassACF Director
Steven ShookACF Director
Willaim VolkACF Director
Dan GrahamCorporation Director
Dan WilsonCorporation Director
Lisa Wilson GrahamCorporation Director
Revenue and Support

Revenue Composition

Contributions and Grants
$1,215,101
Program Service Revenue
$68,326
Investment Income
$199
Other Revenue
$0
All Other Contributions
$1,215,101
Change in Net Assets
$627,585

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Miscellaneous1$100,000Fair Market Value
Total Noncash Contributions1$100,000-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$338,070
Salaries, Compensation, and Employee Benefits$223,308
Other Expenses$94,663
Total Fundraising Expense$52,159
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$338,070--$338,070
Other Salaries and Wages$120,586$51,361$51,361$223,308
Other Expenses$397$169$169$735
Fees for Services Legal$100$400-$500
Total Functional Expenses$551,323$52,559$52,159$656,041
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
PhilanthropitchAustin, TX501(c)(3)Support$165,850
Startup GamesAustin, TX501(c)(3)Support$114,749
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
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
Yes
Other officer compensation reviewed
Yes
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, Section A, line 6

Austin Community Foundation is the sole member of Notley Fund.

Form 990, Part VI, Section A, line 7A

Austin Community Foundation is entitled to appoint 4 of the 7 board members.

Form 990, Part VI, Section B, line 11B

The members of the board of Governors receive the 990 prior to filing.

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

Each director, principal officer and member of a committee with governing board delegated powers shall annually sign a statement which affirms such person: Has received a copy of the conflicts of interest policy, Has read and understands the policy, Has agreed to comply with the policy. An interested person may make a presentation at the governing board or committee meeting, but after the presentation, he/she shall leave the meeting during the discussion of, and the vote on, the transaction or arrangement involving the possible conflict of interest. The chairperson of the governing board or committee shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. After exercising due diligence, the governing board or committee shall determine whether the Corporation can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the governing board or committee shall determine by a majority vote of the disinterested directors whether the transaction or arrangement is in the Corporation's best interest, for its own benefit, and whether it is fair and reasonable . In conformity with the above determination it shall make its decision as to whether to enter into the transaction or arrangement.

Form 990, Part VI, Section B, line 15

XXXXXXX

Form 990, Part VI, Section C, line 19

Available upon request.

Filing and Contact Details

Filer

Filer Name
The Notley Fund
EIN
47-5295639
Phone
5124724486
Address
1408 E 14th St, Austin, TX 78702

Signing Officer

Name
Dan Graham
Title
Corporation Director
Phone
5124724486
Signed
2017-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dan Graham
Formed
2015
Legal Domicile
TX
Voting Board Members
7
Independent Board Members
7
Employees
8
Volunteers
0

Preparer

Firm
PMB Helin Donovan LLP
Address
12301 Research Blvd Bldg 5 Ste 160, Austin, TX 78759
Preparer
Kelly Logan
Phone
5122589670
Supplemental Narrative

Additional Explanations

Form 990, Part XI, line 9:

Adjustment in equity for subsidiary -6,091.

Financial Statement Notes

Part X, Line 2:

The Foundation is exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code. Unrelated business income, of which the Foundation had no significant amounts for the years ended December 31, 2016 and 2015, is subject to federal income taxes. Accordingly, there is no provision or liability for federal income taxes in the accompanying financial statements. The Foundation recognizes the tax benefits from uncertain tax positions only if it is more likely than not that the tax positions will be sustained on examination by the taxing authorities, based on the technical merits of the positions. The tax benefits recognized in the consolidated financial statements from such positions are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The Foundation files informational returns in the U.S. federal jurisdiction. With few exceptions, the Foundation is no longer subject to U.S. federal tax examinations by tax authorities for years prior to 2013.

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IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0Austin Community Foundation
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt1Startup Games
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt2Philanthropitch
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Foundation is exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code. Unrelated business income, of which the Foundation had no significant amounts for the years ended December 31, 2016 and 2015, is subject to federal income taxes. Accordingly, there is no provision or liability for federal income taxes in the accompanying financial statements. The Foundation recognizes the tax benefits from uncertain tax positions only if it is more likely than not that the tax positions will be sustained on examination by the taxing authorities, based on the technical merits of the positions. The tax benefits recognized in the consolidated financial statements from such positions are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The Foundation files informational returns in the U.S. federal jurisdiction. With few exceptions, the Foundation is no longer subject to U.S. federal tax examinations by tax authorities for years prior to 2013.
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IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1Startup Games
IRS990ScheduleI/RecipientTable/RecipientEIN0811374280
IRS990ScheduleI/RecipientTable/RecipientEIN1461469249
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt01408 East 13th Street
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt11408 East 13th Street
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Austin
IRS990ScheduleI/RecipientTable/USAddress/CityNm1Austin
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Michael Nellis
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0ACF Director
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IRS990ScheduleJ/SeverancePaymentInd00
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IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0This organization supports Austin Community Foundation. The Foundation follows IRS regulations and best practices regarding the determination of a reasonable salary for the CEO and other key management personnel.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0Part I, Line 3
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Austin Community Foundation is the sole member of Notley Fund.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Austin Community Foundation is entitled to appoint 4 of the 7 board members.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The members of the board of Governors receive the 990 prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Each director, principal officer and member of a committee with governing board delegated powers shall annually sign a statement which affirms such person: Has received a copy of the conflicts of interest policy, Has read and understands the policy, Has agreed to comply with the policy. An interested person may make a presentation at the governing board or committee meeting, but after the presentation, he/she shall leave the meeting during the discussion of, and the vote on, the transaction or arrangement involving the possible conflict of interest. The chairperson of the governing board or committee shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. After exercising due diligence, the governing board or committee shall determine whether the Corporation can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the governing board or committee shall determine by a majority vote of the disinterested directors whether the transaction or arrangement is in the Corporation's best interest, for its own benefit, and whether it is fair and reasonable . In conformity with the above determination it shall make its decision as to whether to enter into the transaction or arrangement.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4XXXXXXX
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Adjustment in equity for subsidiary -6,091.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section B, line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part XI, line 9:
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt2The Notley Fund
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt3The Notley Fund
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt4The Notley Fund
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0Austin Community Foundation
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1Acf Bright Leaf Preserve
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt2A Legacy of Giving
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt3Philanthropitch
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