Civic Intelligence

Abyc Foundation Inc.

990 • Fiscal year 2017 • EIN 52-1596605

Oct 01, 2016 to Sep 30, 2017 • Filed on Aug 10, 2018

Organization ProfileWWW.ABYCINC.ORG
613 Third Street 10Annapolis, MD 21403

(410) 990-4460

Siviq Scores

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

Liabilities / Assets

71st percentile

0.32x

Higher debt load relative to assets than 71% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

100th percentile

32.18x

Higher debt load relative to revenue than 100% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

1st percentile

-263%

Higher net margin than 1% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2017

Asset Growth

18th percentile

-5.5%

Faster asset growth than 18% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

1st percentile

-87%

Faster revenue growth than 1% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets71st percentile

Assets

Down

$2,424,673

Down $141,043 (-5.5%) from 2016

Net Assets

Down

$1,658,938

Down $63,187 (-3.7%) from 2016

Liabilities

Down

$765,735

Down $77,856 (-9.2%) from 2016

Revenue And Expenses
Liabilities / Revenue100th percentileNet Margin1st percentile

Revenue

Down

$23,797

Down $162,354 (-87%) from 2016

Expenses

Down

$86,454

Down $39,243 (-31%) from 2016

Net Income

Down

-$62,657

Down $123,111 (-204%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth18th percentile

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

$3.0M$2.0M$1.0M$0Assets 2010: $2,872,273Liabilities 2010: $1,186,455Net Assets 2010: $1,685,8182010Assets 2011: $2,754,406Liabilities 2011: $1,089,670Net Assets 2011: $1,664,7362011Assets 2012: $2,678,044Liabilities 2012: $1,034,861Net Assets 2012: $1,643,1832012Assets 2013: $2,556,600Liabilities 2013: $965,776Net Assets 2013: $1,590,8242013Assets 2014: $2,578,695Liabilities 2014: $948,089Net Assets 2014: $1,630,6062014Assets 2015: $2,529,398Liabilities 2015: $869,245Net Assets 2015: $1,660,1532015Assets 2016: $2,565,716Liabilities 2016: $843,591Net Assets 2016: $1,722,1252016Assets 2017: $2,424,673Liabilities 2017: $765,735Net Assets 2017: $1,658,9382017Assets 2018: $2,386,107Liabilities 2018: $815,355Net Assets 2018: $1,570,7522018Assets 2019: $2,259,170Liabilities 2019: $787,933Net Assets 2019: $1,471,2372019Assets 2020: $2,112,010Liabilities 2020: $737,553Net Assets 2020: $1,374,4572020Assets 2021: $2,033,845Liabilities 2021: $749,419Net Assets 2021: $1,284,4262021Assets 2022: $1,947,275Liabilities 2022: $400,204Net Assets 2022: $1,547,0712022

Highlighted filing

2017

Assets$2,424,673
Liabilities$765,735
Net Assets$1,658,938
Open 2017 Filing

Operations Trend

Revenue Growth1st percentile

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

$400K$200K$0-$200KRevenue 2010: $130,553Expenses 2010: $276,516Net Income 2010: -$145,9632010Revenue 2011: $123,171Expenses 2011: $143,765Net Income 2011: -$20,5942011Revenue 2012: $78,314Expenses 2012: $99,867Net Income 2012: -$21,5532012Revenue 2013: $49,266Expenses 2013: $100,059Net Income 2013: -$50,7932013Revenue 2014: $119,201Expenses 2014: $79,419Net Income 2014: $39,7822014Revenue 2015: $132,941Expenses 2015: $124,771Net Income 2015: $8,1702015Revenue 2016: $186,151Expenses 2016: $125,697Net Income 2016: $60,4542016Revenue 2017: $23,797Expenses 2017: $86,454Net Income 2017: -$62,6572017Revenue 2018: $42,716Expenses 2018: $131,492Net Income 2018: -$88,7762018Revenue 2019: $37,995Expenses 2019: $137,748Net Income 2019: -$99,7532019Revenue 2020: $57,648Expenses 2020: $150,945Net Income 2020: -$93,2972020Revenue 2021: $66,126Expenses 2021: $155,156Net Income 2021: -$89,0302021Revenue 2022: $372,002Expenses 2022: $109,357Net Income 2022: $262,6452022

Highlighted filing

2017

Revenue$23,797
Expenses$86,454
Net Income-$62,657
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2016 to Sep 30, 2017
Signed
Aug 10, 2018
Return Version
2016v3.1
Gross Receipts
$122,252
Mission and Program Overview

Mission

To support the american boat & yacht council, inc.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,292,696$2,229,873▼ $62,823
Cash and Non-Interest-Bearing Accounts$211,293$186,732▼ $24,561
Savings and Temporary Cash Investments$50,329--
Investments in Publicly Traded Securities$5,331$4,801▼ $530
Prepaid Expenses and Deferred Charges$5,447$3,267▼ $2,180
Accounts Receivable$620--
Total Assets$2,565,716$2,424,673▼ $141,043
Liabilities
Mortgage Notes Payable Secured by Investment Property$754,957$678,299▼ $76,658
Other Liabilities$83,259$84,709▲ $1,450
Accounts Payable and Accrued Expenses$5,375$2,727▼ $2,648
Total Liabilities$843,591$765,735▼ $77,856
Net Assets / Fund Balance
Unrestricted Net Assets$1,676,626$1,626,535▼ $50,091
Temporarily Rstr Net Assets$45,499$32,403▼ $13,096
Total Net Assets Fund Balance$1,722,125$1,658,938▼ $63,187
Total Liabilities and Net Assets / Fund Balance$2,565,716$2,424,673▼ $141,043

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,094,648$656,797$1,751,445
Land$795,000-$795,000
Leasehold Improvements$333,172$181,708$514,880
Other Land Buildings-$124,979$124,979
Equipment$7,053$2,147$9,200
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Joseph CharlesChairman
John AdeySecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$25,245
Program Service Revenue
$5,000
Investment Income
$186
Other Revenue
$-6,634
All Other Contributions
$25,245
Change in Net Assets
$-62,657

Audited Revenue Reconciliation

Revenue per Audited Statements
$23,797
Revenue Not Reported on Form 990
$213,919
Total Revenue per Audited Statements
$237,716
Total Revenue per Form 990
$23,797
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$86,454
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$39,226--$39,226
Interest$15,125--$15,125
Fees for Services Accounting-$5,325-$5,325
Fees for Services Other$4,242--$4,242
Insurance-$1,269-$1,269
All Other Expenses$560$175-$735
Other Expenses$617--$617
Advertising$424--$424
Office Expenses-$100-$100
Total Functional Expenses$79,585$6,869$0$86,454

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$300,903
Expenses Not Reported on Form 990$214,449
Expenses per Audited Statements$86,454
Total Expenses per Form 990$86,454
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Abyc$84,709
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
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
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, Page 6, Part VI, Line 11B

“President of american boat & yacht council to review”

Form 990, Page 6, Part VI, Line 12C

“Executive committee monitors activities and handles conflicts as they arise.”

Form 990, Page 6, Part VI, Line 15B

“Board reviews executive director compensation and compares to industry. Executive director reviews staff compensation and compares to industry.”

Form 990, Page 6, Part VI, Line 19

“Made available at main office during normal business hours.”

Filing and Contact Details

Filer

Filer Name
Abyc Foundation
EIN
52-1596605
Phone
4109904460
Address
613 THIRD STREET 10, ANNAPOLIS, MD 21403

Signing Officer

Name
John Adey
Title
Secretary
Phone
4109904460
Signed
2018-08-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Adey
Formed
1989
Legal Domicile
Md
Voting Board Members
2
Independent Board Members
2
Employees
0

Preparer

Firm
Wolfe & Fiedler Pa
Address
634 FREDERICK RD STE 1, CATONSVILLE, MD 21228
Preparer
Brian T Wolfe
Phone
4107470789
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Rental expenses 98,455 rental expenses -98,455”

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 2D

“RENTAL EXPENSES 98,455”

Schedule D, Page 4, Part XII, Line 2D

“RENTAL EXPENSES 98,455”

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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/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XII, LINE 2D
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02229873
IRS990ScheduleD/TotalExpensesPerForm990Amt086454
IRS990ScheduleD/TotalLiabilityAmt084709
IRS990ScheduleD/TotalRevenuePerForm990Amt023797
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0237716
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0300903
IRS990ScheduleJ/AnyNonFixedPaymentsInd0false
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0161308
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0JOHN ADEY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0SECRETARY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0161308
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PRESIDENT OF AMERICAN BOAT & YACHT COUNCIL TO REVIEW
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EXECUTIVE COMMITTEE MONITORS ACTIVITIES AND HANDLES CONFLICTS AS THEY ARISE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BOARD REVIEWS EXECUTIVE DIRECTOR COMPENSATION AND COMPARES TO INDUSTRY. EXECUTIVE DIRECTOR REVIEWS STAFF COMPENSATION AND COMPARES TO INDUSTRY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3MADE AVAILABLE AT MAIN OFFICE DURING NORMAL BUSINESS HOURS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4RENTAL EXPENSES 98,455 RENTAL EXPENSES -98,455
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0AMERICAN BOAT & YACHT COUNCIL INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0131939929
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0MD
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0MARINE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt010
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0613 THIRD STREET
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0ANNAPOLIS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0MD
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd021403
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0true
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0true
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0true
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0true
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0678299
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0FMV LOAN
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0AMERICAN BOAT & YACHT COUNCIL INC
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0E
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0MD
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt045499
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt032403
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02565716
IRS990/TotalAssetsEOYAmt02424673
IRS990/TotalAssetsGrp/BOYAmt02565716
IRS990/TotalAssetsGrp/EOYAmt02424673
IRS990/TotalCompGreaterThan150KInd0true
IRS990/TotalContributionsAmt025245
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt06869
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt079585
IRS990/TotalFunctionalExpensesGrp/TotalAmt086454
IRS990/TotalGrossUBIAmt0-6634
IRS990/TotalLiabilitiesBOYAmt0843591
IRS990/TotalLiabilitiesEOYAmt0765735
IRS990/TotalLiabilitiesGrp/BOYAmt0843591
IRS990/TotalLiabilitiesGrp/EOYAmt0765735
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01722125
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01658938
IRS990/TotalProgramServiceExpensesAmt079585
IRS990/TotalProgramServiceRevenueAmt05000
IRS990/TotalRevenueGrp/ExclusionAmt0186
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt05000
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt023797
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt0-6634
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02565716
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02424673
IRS990/TotReportableCompRltdOrgAmt0161308
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0true
IRS990/UnrestrictedNetAssetsGrp/BOYAmt01676626
IRS990/UnrestrictedNetAssetsGrp/EOYAmt01626535
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0613 THIRD STREET SUITE 10
IRS990/USAddress/CityNm0ANNAPOLIS
IRS990/USAddress/StateAbbreviationCd0MD
IRS990/USAddress/ZIPCd021403
IRS990/VotingMembersGoverningBodyCnt02
IRS990/VotingMembersIndependentCnt02
IRS990/WebsiteAddressTxt0WWW.ABYCINC.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JOHN ADEY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY
ReturnHeader/BusinessOfficerGrp/PhoneNum04109904460
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-08-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ABYC FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0ABYC
ReturnHeader/Filer/EIN0521596605
ReturnHeader/Filer/PhoneNum04109904460
ReturnHeader/Filer/USAddress/AddressLine1Txt0613 THIRD STREET 10
ReturnHeader/Filer/USAddress/CityNm0ANNAPOLIS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MD

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,424,673
Liabilities
$765,735
Net assets
$1,658,938
Revenue
$23,797
Expenses
$86,454
Net income
-$62,657
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.95$0.40$1.55$0.37$0.11$0.26
2021Detailed filing. Detailed filing data is available for this year.$2.03$0.75$1.28$0.07$0.16$0.09
2020Detailed filing. Detailed filing data is available for this year.$2.11$0.74$1.37$0.06$0.15$0.09
2019Detailed filing. Detailed filing data is available for this year.$2.26$0.79$1.47$0.04$0.14$0.10
2018Detailed filing. Detailed filing data is available for this year.$2.39$0.82$1.57$0.04$0.13$0.09
2017Detailed filing. Detailed filing data is available for this year.$2.42$0.77$1.66$0.02$0.09$0.06
2016Detailed filing. Detailed filing data is available for this year.$2.57$0.84$1.72$0.19$0.13$0.06
2015Detailed filing. Detailed filing data is available for this year.$2.53$0.87$1.66$0.13$0.12$0.01
2014Detailed filing. Detailed filing data is available for this year.$2.58$0.95$1.63$0.12$0.08$0.04
2013Summary only. Only limited summary data is available for this year.$2.56$0.97$1.59$0.05$0.10$0.05
2012Summary only. Only limited summary data is available for this year.$2.68$1.03$1.64$0.08$0.10$0.02
2011Summary only. Only limited summary data is available for this year.$2.75$1.09$1.66$0.12$0.14$0.02
2010Summary only. Only limited summary data is available for this year.$2.87$1.19$1.69$0.13$0.28$0.15