Civic Intelligence

Chesapeake College Foundation Inc.

990 • Fiscal year 2016 • EIN 52-1104909

Jul 01, 2015 to Jun 30, 2016 • Filed on Nov 29, 2016

Organization ProfileWWW.CHESAPEAKE.EDU/FOUNDATION
PO Box 8Wye Mills, MD 21679-0008

(410) 827-5816

Siviq Scores

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

Liabilities / Assets

14th percentile

0.00x

Higher debt load relative to assets than 14% of similar nonprofits.

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

Liabilities / Revenue

14th percentile

0.00x

Higher debt load relative to revenue than 14% of similar nonprofits.

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

Net Margin

38th percentile

-1.0%

Higher net margin than 38% of similar nonprofits.

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

Top Officer Pay

91st percentile

$226,122

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 12.4% of source-year revenue.

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

Asset Growth

33rd percentile

-2.4%

Faster asset growth than 33% of similar nonprofits.

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

Revenue Growth

84th percentile

34%

Faster revenue growth than 84% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets14th percentile

Assets

Down

$4,546,257

Down $113,463 (-2.4%) from 2015

Net Assets

Down

$4,545,647

Down $107,629 (-2.3%) from 2015

Liabilities

Down

$610

Down $5,834 (-91%) from 2015

Revenue And Expenses
Liabilities / Revenue14th percentileNet Margin38th percentile

Revenue

Up

$1,828,970

Up $463,602 (+34%) from 2015

Expenses

Up

$1,847,680

Up $1,241,304 (+205%) from 2015

Net Income

Down

-$18,710

Down $777,702 (-102%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth33rd percentile

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

$15M$10M$5.0M$0Assets 2011: $3,107,425Liabilities 2011: $58,759Net Assets 2011: $3,048,6662011Assets 2012: $3,048,870Liabilities 2012: $31,879Net Assets 2012: $3,016,9912012Assets 2013: $3,393,271Liabilities 2013: $22,813Net Assets 2013: $3,370,4582013Assets 2014: $4,236,430Liabilities 2014: $6,730Net Assets 2014: $4,229,7002014Assets 2015: $4,659,720Liabilities 2015: $6,444Net Assets 2015: $4,653,2762015Assets 2016: $4,546,257Liabilities 2016: $610Net Assets 2016: $4,545,6472016Assets 2017: $5,531,632Liabilities 2017: $1,882Net Assets 2017: $5,529,7502017Assets 2018: $5,994,740Liabilities 2018: $140,473Net Assets 2018: $5,854,2672018Assets 2019: $6,205,430Liabilities 2019: $155,163Net Assets 2019: $6,050,2672019Assets 2020: $7,175,936Liabilities 2020: $186,099Net Assets 2020: $6,989,8372020Assets 2021: $8,892,682Liabilities 2021: $446,483Net Assets 2021: $8,446,1992021Assets 2022: $8,084,053Liabilities 2022: $276,736Net Assets 2022: $7,807,3172022Assets 2023: $8,815,819Liabilities 2023: $465,724Net Assets 2023: $8,350,0952023Assets 2025: $11,161,100Liabilities 2025: $528,139Net Assets 2025: $10,632,9612025

Highlighted filing

2016

Assets$4,546,257
Liabilities$610
Net Assets$4,545,647
Open 2016 Filing

Operations Trend

Revenue Growth84th percentile

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

$2.0M$1.5M$1.0M$500K$0-$500KRevenue 2011: $300,567Expenses 2011: $190,922Net Income 2011: $109,6452011Expenses 2012: $259,3082012Expenses 2013: $245,9052013Revenue 2014: $928,775Expenses 2014: $231,465Net Income 2014: $697,3102014Revenue 2015: $1,365,368Expenses 2015: $606,376Net Income 2015: $758,9922015Revenue 2016: $1,828,970Expenses 2016: $1,847,680Net Income 2016: -$18,7102016Revenue 2017: $1,575,697Expenses 2017: $528,110Net Income 2017: $1,047,5872017Revenue 2018: $888,093Expenses 2018: $781,680Net Income 2018: $106,4132018Revenue 2019: $1,045,020Expenses 2019: $955,850Net Income 2019: $89,1702019Revenue 2020: $1,631,212Expenses 2020: $695,897Net Income 2020: $935,3152020Revenue 2021: $843,810Expenses 2021: $891,382Net Income 2021: -$47,5722021Revenue 2022: $1,805,836Expenses 2022: $861,260Net Income 2022: $944,5762022Revenue 2023: $868,361Expenses 2023: $693,824Net Income 2023: $174,5372023Revenue 2025: $1,461,664Expenses 2025: $1,262,779Net Income 2025: $198,8852025

Highlighted filing

2016

Revenue$1,828,970
Expenses$1,847,680
Net Income-$18,710
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Nov 29, 2016
Return Version
2015v2.1
Gross Receipts
$3,265,306
Mission and Program Overview

Mission

The foundation is organized and operated exclusively for the charitable and educational purposes of furthering the educational programs, facilities, and opportunities at chesapeake college, by providing financial resources to meet the college's goals and objectives.

Charitable and educational purposes to benefit the students and faculty of chesapeake college.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$3,560,305$4,136,914▲ $576,609
Pledges and Grants Receivable$467,772$297,610▼ $170,162
Savings and Temporary Cash Investments$591,120$64,802▼ $526,318
Prepaid Expenses and Deferred Charges-$8,491-
Accounts Receivable$4,823$2,740▼ $2,083
Total Assets$4,659,720$4,546,257▼ $113,463
Other Assets Total$35,700$35,700→ $0
Liabilities
Accounts Payable and Accrued Expenses$6,444$516▼ $5,928
Other Liabilities$0$94▲ $94
Total Liabilities$6,444$610▼ $5,834
Net Assets / Fund Balance
Permanently Rstr Net Assets$2,216,134$2,261,710▲ $45,576
Temporarily Rstr Net Assets$1,845,220$1,716,271▼ $128,949
Unrestricted Net Assets$591,922$567,666▼ $24,256
Total Net Assets Fund Balance$4,653,276$4,545,647▼ $107,629
Total Liabilities and Net Assets / Fund Balance$4,659,720$4,546,257▼ $113,463

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$3,398,580$45,576▼ $45,704$367,970$3,030,482
2014$3,585,093$106,843▼ $5,868$287,488$3,398,580
2013$2,986,906$173,065▲ $623,726$198,604$3,585,093
2012$2,664,098$58,833▲ $422,415$158,440$2,986,906
2011$2,635,645$42,765▲ $43,138$57,450$2,664,098
Compensation and Service Providers
Top Officer Pay91st percentile

Employees

NameTitleFull / Part TimeOtherTotal
Timothy JonesMember-$137,399$137,399
Lucie HughesVP, INST'L ADV./EXEC DIR(AS OF 5/16)PT$132,783$132,783
Karen SmithDir., Budget/procurement-$87,714$87,714
John HaasMember-$81,950$81,950
Lauren HaltermanExecutive Director (until 5/16)PT$79,145$79,145
Anne RyanMember-$56,040$56,040

Board Members and Trustees

NameTitle
Robert GracePresident
Ann Karwacki GoodmanVice President
Amos T MeredithMember
Bruce C ArmisteadMember
Cal Gray JrMember
Dewey BladesMember
Don BradleyMember
Gregory WhittenMember
Jeannie Haddaway-riccioMember
Pete LandonMember
Steven J OchseMember
Stuart M BoundsMember
Tom HutchinsonMember
William P Griffin JrMember
Barbara a ViniarMember/chesapeake College
Corey DuncanSecretary
James M VermilyeTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,790,132
Program Service Revenue
$0
Investment Income
$37,034
Other Revenue
$1,804
All Other Contributions
$1,784,792
Change in Net Assets
$-18,710

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 Publicly Traded2$55,556Nyse
Total Noncash Contributions2$55,556-

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,833,826
Revenue Not Reported on Financial Statements
$-4,856
Revenue Not Reported on Form 990
$164,586
Other Revenue Adjustments
$-4,856
Total Revenue per Audited Statements
$1,998,412
Total Revenue per Form 990
$1,828,970
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,741,374
Other Expenses$106,306
Total Fundraising Expense$46,719
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,741,374--$1,741,374
Fees for Services Other-$18,979$17,262$36,241
Advertising-$12,457$11,330$23,787
Office Expenses-$20,838-$20,838
Travel-$315$287$602
Other Expenses-$300$5,161$300
Total Functional Expenses$1,741,374$59,587$46,719$1,847,680

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,106,041
Expenses per Audited Statements$1,847,680
Total Expenses per Form 990$1,847,680
Expenses Not Reported on Form 990$258,361
Expenses Not Reported on Financial Statements$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Chesapeake CollegeWye Mills, MD-To Provide Scholarships and Financial Aid to Students and to Provide Funds for the Purchase of Equipment for the Health Professions Building.$1,741,374
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$6,660
Fundraising Direct Expenses$4,856
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Pride of the Peake$12,000$6,660-$6,660
Total Events$12,000$6,660$4,856$1,804
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Chesapeake College$94
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 B, Line 11

“The foundation's management will provide the form 990 to the finance committee for their review. The form 990 is then made available to the whole board for review prior to irs submission.”

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

“Members of the board of the chesapeake college foundation in the performance of their responsibilities on behalf of the foundation desire to avoid any conflict or appearance of conflict between the interests of the chesapeake college foundation and any personal interest of a board member or officer. All board members shall submit annually a written statement to the board president acknowledging their receipt of this statement and disclosing any matter or relationship that the board member believes could constitute a conflict of interest. On any matter which comes before the board, a board member shall abstain from voting if such board member knowingly has a personal and/or financial interest whether direct or indirect. A board member shall disclose to the board president and to any appropriate board committee any actual or potential conflict of interest on a particular issue before the board or committee. A board member who has disclosed a possible conflict of interest may be counted in determining a quorum. Prior to the final discussion before a vote is taken on an issue, the board member will excuse himself/herself from the room. Minutes of the meeting shall reflect that a disclosure was made and that the board member did not participate in the voting on the issue.”

Form 990, Part VI, Section B, Line 15

“Corporate officers of chesapeake college foundation are not paid directly by chesapeake college foundation, but are paid by chesapeake college, a related entity.”

Form 990, Part VI, Section C, Line 19

“The foundation makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Chesapeake College Foundation Inc
EIN
52-1104909
Phone
4108275816
Address
PO BOX 8, WYE MILLS, MD 21679-0008

Signing Officer

Name
Corey N Duncan
Title
Secretary
Phone
4108275816
Signed
2016-11-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Corey N Duncan
Formed
1977
Legal Domicile
Md
Voting Board Members
20
Independent Board Members
16
Employees
0
Volunteers
20

Preparer

Firm
Baker Tilly Virchow Krause Llp
Address
SUITE 200 221 W PHILADELPHIA STREET, YORK, PA 17401-2993
Preparer
Julius C Green CPA
Phone
7178467000
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Uncollectible pledges -6,181.”

Financial Statement Notes

PART III, LINE 1A:

“Various pieces of artwork that are displayed throughout the campus enhance the educational value of the students' environment.”

PART V, LINE 4:

“The primary investment objective is to achieve a long-term total return in order to fund scholarships.”

PART X, LINE 2:

“The foundation accounts for uncertainty in income taxes using a recognition threshold of more-likely-than not to be sustained upon examination by the appropriate taxing authority. Measurement of the tax uncertainty occurs if the recognition threshold is met. Management determined there were no tax uncertainties that met the recognition threshold. The foundation's federal exempt organization business income tax return for years ending subsequent to 2012 are subject to examination by the internal revenue service.”

PART XI, LINE 4B - OTHER ADJUSTMENTS:

“Fundraising expenses -4,856.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Fundraising expenses 4,856. Uncollectible pledges 6,181.”

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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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IRS990/Form990PartVIISectionAGrp/PersonNm19TOM HUTCHINSON
IRS990/Form990PartVIISectionAGrp/PersonNm20LAUREN HALTERMAN
IRS990/Form990PartVIISectionAGrp/PersonNm21KAREN SMITH
IRS990/Form990PartVIISectionAGrp/PersonNm22LUCIE HUGHES
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt200
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt160
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt170
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt190
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IRS990/Form990PartVIISectionAGrp/TitleTxt0MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt1MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt2MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt3MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt4SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt5VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt6PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt7MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt8MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt9MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt11TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt12MEMBER/CHESAPEAKE COLLEGE
IRS990/Form990PartVIISectionAGrp/TitleTxt13MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt14MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt15MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt16MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt17MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt18MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt19MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt20EXECUTIVE DIRECTOR (UNTIL 5/16)
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIR., BUDGET/PROCUREMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt22VP, INST'L ADV./EXEC DIR(AS OF 5/16)
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr01977
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IRS990/FSAuditedBasisGrp/ConsolAndSepBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd01
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IRS990/FundraisingDirectExpensesAmt04856
IRS990/FundraisingGrossIncomeAmt06660
IRS990/GainOrLossGrp/SecuritiesAmt0-92097
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt020
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IRS990/GrantsToOrganizationsInd01
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IRS990/GrossReceiptsAmt03265306
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt016
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
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IRS990/IRPDocumentW2GCnt00
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IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
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IRS990/MembersOrStockholdersInd00
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IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
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IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
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IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt01804
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IRS990/NetUnrlzdGainsLossesInvstAmt0-82738
IRS990/NoncashContributionsAmt055556
IRS990/NondeductibleContributionsInd00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt020838
IRS990/OfficeExpensesGrp/TotalAmt020838
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt035700
IRS990/OtherAssetsTotalGrp/EOYAmt035700
IRS990/OtherChangesInNetAssetsAmt0-6181
IRS990/OtherExpensesGrp/Desc0REIMBURSED EXPENSES
IRS990/OtherExpensesGrp/Desc1REFRESHMENTS/AWARDS
IRS990/OtherExpensesGrp/Desc2DUES AND SUBSCRIPTIONS
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IRS990/OtherExpensesGrp/FundraisingAmt15161
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt01423
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt15275
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt2300
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IRS990/OtherExpensesGrp/TotalAmt110436
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IRS990/PayPremiumsPrsnlBnftCntrctInd00
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IRS990/PoliticalCampaignActyInd00
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IRS990/PrincipalOfficerNm0COREY N DUNCAN
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IRS990/PYTotalProfFndrsngExpnsAmt00
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IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
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IRS990/RegularMonitoringEnfrcInd01
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0105995
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt097399
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IRS990ScheduleA/PublicSupportPY170Pct00.57160
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IRS990ScheduleA/SubstantialContributorsTotAmt01327336
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IRS990ScheduleD/BoardDesignatedBalanceEOYPct00.07000
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Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,546,257
Liabilities
$610
Net assets
$4,545,647
Revenue
$1,828,970
Expenses
$1,847,680
Net income
-$18,710
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$11.2$0.53$10.6$1.46$1.26$0.20
2023Summary only. Only limited summary data is available for this year.$8.82$0.47$8.35$0.87$0.69$0.17
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.08$0.28$7.81$1.81$0.86$0.94
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.89$0.45$8.45$0.84$0.89$0.05
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.18$0.19$6.99$1.63$0.70$0.94
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.21$0.16$6.05$1.05$0.96$0.09
2018Summary only. Only limited summary data is available for this year.$5.99$0.14$5.85$0.89$0.78$0.11
2017Summary only. Only limited summary data is available for this year.$5.53$0.00$5.53$1.58$0.53$1.05
2016Detailed filing. Detailed filing data is available for this year.$4.55$0.00$4.55$1.83$1.85$0.02
2015Detailed filing. Detailed filing data is available for this year.$4.66$0.01$4.65$1.37$0.61$0.76
2014Detailed filing. Detailed filing data is available for this year.$4.24$0.01$4.23$0.93$0.23$0.70
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.39$0.02$3.37$0.25
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.05$0.03$3.02$0.26
2011Summary only. Only limited summary data is available for this year.$3.11$0.06$3.05$0.30$0.19$0.11