Civic Intelligence

Vnsw Foundation Inc.

990 • Fiscal year 2017 • EIN 47-5633860

Jan 01, 2017 to Dec 31, 2017 • Filed on Oct 30, 2018

360 Mamaroneck AvenueWhite Plains, NY 10605

(914) 682-1480

Siviq Scores

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

Liabilities / Assets

7th percentile

0.00x

Higher debt load relative to assets than 7% of similar nonprofits.

2017 filings • NTEE E • $10M-$25M nonprofits • Source year 2017

Liabilities / Revenue

19th percentile

0.08x

Higher debt load relative to revenue than 19% of similar nonprofits.

2017 filings • NTEE E • $10M-$25M nonprofits • Source year 2017

Net Margin

80th percentile

13%

Higher net margin than 80% of similar nonprofits.

2017 filings • NTEE E • $10M-$25M nonprofits • Source year 2017

Top Officer Pay

55th percentile

$379,157

Higher top officer pay than 55% of similar nonprofits.

Top officer pay equals 46.6% of source-year revenue.

2017 filings • NTEE E • $10M-$25M nonprofits • Source year 2017

Asset Growth

65th percentile

9.7%

Faster asset growth than 65% of similar nonprofits.

2017 filings • NTEE E • $10M-$25M nonprofits • Annualized from 2016 to 2017

Revenue Growth

94th percentile

127%

Faster revenue growth than 94% of similar nonprofits.

2017 filings • NTEE E • $10M-$25M nonprofits • Annualized from 2016 to 2017

Assets

Up

$17,441,354

Up $1,542,109 (+9.7%) from 2016

Net Assets

Up

$17,377,743

Up $1,496,659 (+9.4%) from 2016

Liabilities

Up

$63,611

Up $45,450 (+250%) from 2016

Revenue

Up

$814,174

Up $455,175 (+127%) from 2016

Expenses

Up

$704,548

Up $570,899 (+427%) from 2016

Net Income

Down

$109,626

Down $115,724 (-51%) from 2016

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2015: $0Liabilities 2015: $0Net Assets 2015: $02015Assets 2016: $15,899,245Liabilities 2016: $18,161Net Assets 2016: $15,881,0842016Assets 2017: $17,441,354Liabilities 2017: $63,611Net Assets 2017: $17,377,7432017Assets 2018: $15,813,421Liabilities 2018: $28,324Net Assets 2018: $15,785,0972018Assets 2019: $18,036,847Liabilities 2019: $15,900Net Assets 2019: $18,020,9472019Assets 2020: $20,700,405Liabilities 2020: $1,350,791Net Assets 2020: $19,349,6142020Assets 2021: $22,683,925Liabilities 2021: $1,339,315Net Assets 2021: $21,344,6102021Assets 2022: $18,392,355Liabilities 2022: $1,336,491Net Assets 2022: $17,055,8642022Assets 2023: $20,761,758Liabilities 2023: $1,335,544Net Assets 2023: $19,426,2142023Assets 2024: $22,581,414Liabilities 2024: $1,332,706Net Assets 2024: $21,248,7082024

Highlighted filing

2017

Assets$17,441,354
Liabilities$63,611
Net Assets$17,377,743

Operations Trend

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

$2.0M$1.0M$0-$1.0MRevenue 2015: $0Expenses 2015: $0Net Income 2015: $02015Revenue 2016: $358,999Expenses 2016: $133,649Net Income 2016: $225,3502016Revenue 2017: $814,174Expenses 2017: $704,548Net Income 2017: $109,6262017Revenue 2018: $971,948Expenses 2018: $1,091,763Net Income 2018: -$119,8152018Revenue 2019: $900,583Expenses 2019: $811,814Net Income 2019: $88,7692019Revenue 2020: $997,931Expenses 2020: $581,330Net Income 2020: $416,6012020Revenue 2021: $1,636,953Expenses 2021: $833,582Net Income 2021: $803,3712021Revenue 2022: $623,771Expenses 2022: $1,277,836Net Income 2022: -$654,0652022Revenue 2023: $1,274,090Expenses 2023: $885,605Net Income 2023: $388,4852023Revenue 2024: $1,106,623Expenses 2024: $725,521Net Income 2024: $381,1022024

Highlighted filing

2017

Revenue$814,174
Expenses$704,548
Net Income$109,626
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Oct 30, 2018
Return Version
2017v2.3
Gross Receipts
$3,783,326
Mission and Program Overview

Mission

To engage in various fundraising activities to assist with the mission of its sister affiliate, visiting nurse services in westchester, inc. By increasing awareness of the programs and activities of the agency. The foundation plans to sponsor a gala event to promote the agency, as well as other fundraising activities such as mail solicitations and donations through its websites. The foundation will also sponsor annual appeal programs which may consist of sending out mass mailings as a part of its fundraising efforts in order to further its mission.

To ensure the future of visiting nurse services in westchester, inc.'s programs and services through charitable outreach to the community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$14,930,073$15,874,721▲ $944,648
Savings and Temporary Cash Investments$777,670$1,495,100▲ $717,430
Cash and Non-Interest-Bearing Accounts$186,502$66,533▼ $119,969
Prepaid Expenses and Deferred Charges$5,000$5,000→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$15,899,245$17,441,354▲ $1,542,109
Other Assets Total$0$0→ $0
Liabilities
Other Liabilities$4,920$35,810▲ $30,890
Accounts Payable and Accrued Expenses$13,241$27,801▲ $14,560
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$18,161$63,611▲ $45,450
Net Assets / Fund Balance
Unrestricted Net Assets$15,881,084$17,377,743▲ $1,496,659
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$15,881,084$17,377,743▲ $1,496,659
Total Liabilities and Net Assets / Fund Balance$15,899,245$17,441,354▲ $1,542,109
Compensation and Service Providers
Revenue and Support

Revenue Composition

Contributions and Grants
$204,920
Program Service Revenue
$0
Investment Income
$587,874
Other Revenue
$21,380
All Other Contributions
$161,394
Change in Net Assets
$109,626

Audited Revenue Reconciliation

Revenue per Audited Statements
$814,174
Revenue Not Reported on Form 990
$1,387,033
Total Revenue per Audited Statements
$2,201,207
Total Revenue per Form 990
$814,174
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$374,817
Grants and Similar Amounts Paid$329,731
Total Fundraising Expense$19,152
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$329,731--$329,731
Fees for Services Management$222,102--$222,102
Fees for Service Investment Mgmnt Fees$66,621--$66,621
Office Expenses$36,379--$36,379
Advertising$11,761-$6,015$17,776
Conferences and Meetings$300-$13,137$13,437
Fees for Services Accounting-$13,331-$13,331
Fees for Services Legal$5,171--$5,171
Total Functional Expenses$672,065$13,331$19,152$704,548

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$704,548
Total Expenses per Audited Statements$704,548
Total Expenses per Form 990$704,548
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Visiting Nurse Services in Westchester IncWhite Plains, NY501(c)(3)General Fund$290,000
Wvns Group IncWhite Plains, NY501(c)(3)General Fund$39,731
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$69,434
Fundraising Direct Expenses$48,054
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala$112,960$69,434$27,593$41,841
Total Events$112,960$69,434$48,054$21,380
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$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Affiliates$35,810
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, Section A, Line 6

The sole member of the organization is westchester visiting nurse services group, inc., a related 501(c)(3)organization.

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

As the sole member, westchester visiting nurse services group, inc. Has the power to elect or remove members of the governing body.

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

The board of directors of the organization has delegated responsibility for reviewing the form 990 to certain management officials of the organization. Prior to the submission of the form, members of the governing body received progress updates from management. A final version of the completed form 990 was reviewed by selected management officials of the organization and distributed to the board of directors prior to submission.

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

The organization has a conflict of interest policy in place to address any conflicts that arise, are reported or otherwise discovered. On an annual basis, all members of the board of directors along with all members of the management team and certain other employees are provided a current copy of the policy and are also required to complete a conflict of interest disclosure statement. These disclosure statements are reviewed by the president/ceo to identify the number, magnitude and nature of all disclosed conflicts. The conflict of interest disclosure statement completed by the president/ceo of the organization is reviewed by the board chairperson. Any conflicts are referred to the board of directors for discussion and resolution.

Form 990, Part VI, Section B, Lines 15A and 15B

The reporting organization has no compensation paid to the top management official or other officers or key employees of the organization. Compensation is paid by a related section 501(c)(3) organization.

Form 990, Part VI, Section C, Line 19

Upon request, the organization will make available only those documents required to be disclosed under the public inspection laws.

Filing and Contact Details

Filer

Filer Name
VNSW Foundation Inc
EIN
47-5633860
In Care Of
% CHRISTOPHER CARDONE
Phone
9146821480
Address
360 Mamaroneck Avenue, White Plains, NY 10605

Signing Officer

Name
Timothy P Leddy
Title
President/CEO
Phone
9146821480
Signed
2018-10-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Timothy P Leddy
Formed
2015
Legal Domicile
Ny
Voting Board Members
15
Independent Board Members
15
Employees
0
Volunteers
15

Preparer

Firm
Bdo USA Llp
Address
100 PARK AVENUE, NEW YORK, NY 10017-5001
Preparer
Angelo Pirozzi CPA
Phone
2128858000
Supplemental Narrative

Financial Statement Notes

Part X, Line 2

The following represents the fin 48 (asc 740) footnote disclosure included in the audited financial statements of vnsw foundation, inc. For the year ended december 31, 2017: under the professional standard, an organization must recognize the tax benefit associated with tax positions taken for tax return purposes when it is more likely than not that the position will not be sustained upon examination by a taxing authority. The foundation does not believe it has taken any material uncertain tax positions and, accordingly, it has not recorded any liability for unrecognized tax benefits. The foundation is subject to routine audits by a taxing authority. As of december 31, 2017, the foundation was not subject to any examination by a taxing authority. 2015 was the foundation's initial tax year.

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