Civic Intelligence

Daniel J Preston Charitable Tr 4347-2 Dtd 020554

990 • Fiscal year 2022 • EIN 51-6149923

Jan 01, 2022 to Dec 31, 2022 • Filed on Aug 08, 2023

5701 Kennett Pike No 100Centerville, DE 19807

(302) 351-7602

Siviq Scores

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

Liabilities / Assets

8th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

8th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Net Margin

5th percentile

-64%

Higher net margin than 5% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

23rd percentile

$10,304

Higher top officer pay than 23% of similar nonprofits.

Top officer pay equals 5.6% of source-year revenue.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Asset Growth

13th percentile

-14%

Faster asset growth than 13% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

4th percentile

-64%

Faster revenue growth than 4% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Assets

Down

$5,481,182

Down $869,139 (-14%) from 2021

Net Assets

Down

$5,481,182

Down $869,139 (-14%) from 2021

Liabilities

Flat

$0

Flat from 2021

Revenue

Down

$183,138

Down $331,677 (-64%) from 2021

Expenses

Up

$300,459

Up $27,838 (+10%) from 2021

Net Income

Down

-$117,321

Down $359,515 (-148%) from 2021

Historical Trend

Balance Sheet Trend

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2011: $4,315,425Liabilities 2011: $0Net Assets 2011: $4,315,4252011Assets 2012: $4,225,806Liabilities 2012: $0Net Assets 2012: $4,225,8062012Assets 2013: $4,669,819Liabilities 2013: $0Net Assets 2013: $4,669,8192013Assets 2014: $4,624,901Liabilities 2014: $0Net Assets 2014: $4,624,9012014Assets 2015: $4,605,514Liabilities 2015: $0Net Assets 2015: $4,605,5142015Assets 2016: $4,468,491Liabilities 2016: $0Net Assets 2016: $4,468,4912016Assets 2017: $5,242,558Liabilities 2017: $0Net Assets 2017: $5,242,5582017Assets 2018: $4,662,401Liabilities 2018: $0Net Assets 2018: $4,662,4012018Assets 2019: $5,388,709Liabilities 2019: $0Net Assets 2019: $5,388,7092019Assets 2020: $5,828,284Liabilities 2020: $0Net Assets 2020: $5,828,2842020Assets 2021: $6,350,321Liabilities 2021: $0Net Assets 2021: $6,350,3212021Assets 2022: $5,481,182Liabilities 2022: $0Net Assets 2022: $5,481,1822022Assets 2023: $5,835,459Liabilities 2023: $0Net Assets 2023: $5,835,4592023

Highlighted filing

2022

Assets$5,481,182
Liabilities$0
Net Assets$5,481,182

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2011: $422,899Expenses 2011: $264,482Net Income 2011: $158,4172011Revenue 2012: $196,270Expenses 2012: $245,025Net Income 2012: -$48,7552012Revenue 2013: $644,686Expenses 2013: $241,055Net Income 2013: $403,6312013Revenue 2014: $169,950Expenses 2014: $214,868Net Income 2014: -$44,9182014Revenue 2015: $210,951Expenses 2015: $230,338Net Income 2015: -$19,3872015Revenue 2016: $80,002Expenses 2016: $217,025Net Income 2016: -$137,0232016Revenue 2017: $175,543Expenses 2017: $224,940Net Income 2017: -$49,3972017Revenue 2018: $442,995Expenses 2018: $251,962Net Income 2018: $191,0332018Revenue 2019: $442,182Expenses 2019: $224,134Net Income 2019: $218,0482019Revenue 2020: $42,050Expenses 2020: $252,004Net Income 2020: -$209,9542020Revenue 2021: $514,815Expenses 2021: $272,621Net Income 2021: $242,1942021Revenue 2022: $183,138Expenses 2022: $300,459Net Income 2022: -$117,3212022Revenue 2023: $137,845Expenses 2023: $254,731Net Income 2023: -$116,8862023

Highlighted filing

2022

Revenue$183,138
Expenses$300,459
Net Income-$117,321
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Aug 8, 2023
Return Version
2022v5.0
Gross Receipts
$644,262
Mission and Program Overview

Mission

Provide monthly income to support the programs and mission of the delaware academy of medicine, inc., including funding for the medical student loan program.

To provide income to support the programs and mission of the Delaware Academy of Medicine, Inc.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$6,350,321$5,481,182▼ $869,139
Investments in Publicly Traded Securities$5,295,272$4,417,720▼ $877,552
Investments Other Securities$713,551$778,117▲ $64,566
Cash and Non-Interest-Bearing Accounts$330,186$274,580▼ $55,606
Other Notes and Loans Receivable, Net$11,312$10,765▼ $547
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$6,350,321$5,481,182▼ $869,139
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$6,350,321$5,481,182▼ $869,139
Total Liabilities and Net Assets / Fund Balance$6,350,321$5,481,182▼ $869,139

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$204,087--
Closely Held Equity Interests$574,030--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2022$6,339,009-▼ $574,026-$5,470,417
2021$5,812,053-▲ $799,577-$6,339,009
2020$5,317,506$70,298▲ $676,253-$5,812,053
2019$4,600,140$22,529▲ $914,863-$5,317,506
2018$5,177,014$18,726▼ $349,218-$4,600,140
Compensation and Service Providers

Employees

NameTitleBaseTotal
-Trustee$10,304$10,304
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$547
Investment Income
$182,591
Other Revenue
$0
Change in Net Assets
$-117,321
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$282,812
Salaries, Compensation, and Employee Benefits$10,304
Other Expenses$7,343
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$282,812--$282,812
Current Officers, Directors, Trustees, and Key Employees-$10,304-$10,304
Other Expenses-$5,893-$5,893
Fees for Services Accounting-$1,450-$1,450
Total Functional Expenses$282,812$17,647$0$300,459
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Delaware Academy of Medicine IncNewark, DE501(c)(3)Programs and student loans$282,812
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
Audit committee
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
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 8B

N/A

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

The 990 will be provided to the trustee for review and signature before it is filed by the preparer.

Form 990, Part VI, Section C, line 19

The charitable trust was established by a trust document, therefore, no conflict of interest policy has been established. Financial statements are not required to be prepared by the governing document (the trust document). The trust documents are available to the Delaware Academy of Medicine, Inc.

Filing and Contact Details

Filer

Filer Name
Daniel J Preston Charitable Trust
EIN
51-6149923
Phone
3023517602
Address
5701 Kennett Pike No 100, Centerville, DE 19807

Signing Officer

Name
Carlos Rodriguez
Title
Authorized Signer
Phone
3023517602
Signed
2023-08-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brown Advisory
Formed
1954
Legal Domicile
De
Voting Board Members
1
Independent Board Members
1
Employees
0
Volunteers
0

Preparer

Firm
Cover & Rossiter PA
Address
2711 Centerville Road Suite 100, Wilmington, DE 19808
Preparer
Peter Kennedy
Phone
3026566632
Supplemental Narrative

Additional Explanations

Form 990, Part XI, line 9:

Change in student loan balances -547.

Form 990, Part XII, Line 2C

The Trust is consolidated with its supported organization, the Delaware Academy of Medicine, Inc., for purposes of the financial statement audit. The Board of Directors of the Delaware Academy of Medicine, Inc., the supported organization, assumes responsibility for the selection of auditors, as well as oversight of the consolidated audited financial statements. Draft consolidated audited financial statements are presented to the Board of Directors and are not finalized until approved by the Board.

Financial Statement Notes

Part V, Line 4:

The Trust's endowment funds are managed to provide a permanent source of funding for the programs of Delaware Academy of Medicine.

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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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Trust's endowment funds are managed to provide a permanent source of funding for the programs of Delaware Academy of Medicine.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part V, Line 4:
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IRS990ScheduleI/RecipientTable/RecipientEIN0510075162
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IRS990ScheduleI/RecipientTable/USAddress/ZIPCd019713
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0The funds granted are to provide funding for the Delaware Academy of Medicine, Inc. Student Loan Program. As a Type I supporting organization, no additional monitoring is necessary.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0N/A
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The 990 will be provided to the trustee for review and signature before it is filed by the preparer.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The charitable trust was established by a trust document, therefore, no conflict of interest policy has been established. Financial statements are not required to be prepared by the governing document (the trust document). The trust documents are available to the Delaware Academy of Medicine, Inc.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Change in student loan balances -547.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The Trust is consolidated with its supported organization, the Delaware Academy of Medicine, Inc., for purposes of the financial statement audit. The Board of Directors of the Delaware Academy of Medicine, Inc., the supported organization, assumes responsibility for the selection of auditors, as well as oversight of the consolidated audited financial statements. Draft consolidated audited financial statements are presented to the Board of Directors and are not finalized until approved by the Board.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 8b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part XI, line 9:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part XII, Line 2c
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd01
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd10
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd1N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0Delaware Academy of Medicine Inc
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1Walter S Carpenter Jr Trust FBO DE Academy of Medicine Amnd 2013
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0510075162
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1237337255
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(c)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt1501(c)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0DE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1DE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0Education and promotion of public health
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1Education and promotion of public health
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0Line 10
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt1Line 12a, I
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt04765 Ogletown Road Suite L-10
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt15701 Kennett Pike Suite 100
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Newark
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm1Wilmington
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0DE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd1DE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd019713
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd119807
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd01
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0282812
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt110765
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0Cash transfer
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1Net book value of student loans
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0Delaware Academy of Medicine Inc
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1Delaware Academy of Medicine Inc
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0B
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1D
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt06350321
IRS990/TotalAssetsEOYAmt05481182
IRS990/TotalAssetsGrp/BOYAmt06350321
IRS990/TotalAssetsGrp/EOYAmt05481182
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt017647
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0282812
IRS990/TotalFunctionalExpensesGrp/TotalAmt0300459
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt06350321
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt05481182
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0282812
IRS990/TotalProgramServiceRevenueAmt0547
IRS990/TotalReportableCompFromOrgAmt010304
IRS990/TotalRevenueGrp/ExclusionAmt0182591
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0547
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0183138
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt06350321
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt05481182
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationTrustInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt05701 Kennett Pike No 100
IRS990/USAddress/CityNm0Centerville
IRS990/USAddress/StateAbbreviationCd0DE
IRS990/USAddress/ZIPCd019807
IRS990/VotingMembersGoverningBodyCnt01
IRS990/VotingMembersIndependentCnt01
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Carlos Rodriguez
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Authorized Signer
ReturnHeader/BusinessOfficerGrp/PhoneNum03023517602
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-08-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Daniel J Preston Charitable Trust
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0DTD 020554
ReturnHeader/Filer/BusinessNameControlTxt0DANI
ReturnHeader/Filer/EIN0516149923
ReturnHeader/Filer/PhoneNum03023517602
ReturnHeader/Filer/USAddress/AddressLine1Txt05701 Kennett Pike No 100
ReturnHeader/Filer/USAddress/CityNm0Centerville
ReturnHeader/Filer/USAddress/StateAbbreviationCd0DE
ReturnHeader/Filer/USAddress/ZIPCd019807
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0510232475
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Cover & Rossiter PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02711 Centerville Road Suite 100
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Wilmington
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0DE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd019808
ReturnHeader/PreparerPersonGrp/PhoneNum03026566632
ReturnHeader/PreparerPersonGrp/PreparationDt02023-08-08

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