Civic Intelligence

Abyc Foundation Inc.

990 • Fiscal year 2021 • EIN 52-1596605

Oct 01, 2020 to Sep 30, 2021 • Filed on Aug 12, 2022

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

78th percentile

0.37x

Higher debt load relative to assets than 78% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

98th percentile

11.33x

Higher debt load relative to revenue than 98% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

2nd percentile

-135%

Higher net margin than 2% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

91st percentile

$210,341

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 318.1% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

16th percentile

-3.7%

Faster asset growth than 16% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

53rd percentile

15%

Faster revenue growth than 53% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Assets

Down

$2,033,845

Down $78,165 (-3.7%) from 2020

Net Assets

Down

$1,284,426

Down $90,031 (-6.6%) from 2020

Liabilities

Up

$749,419

Up $11,866 (+1.6%) from 2020

Revenue

Up

$66,126

Up $8,478 (+15%) from 2020

Expenses

Up

$155,156

Up $4,211 (+2.8%) from 2020

Net Income

Up

-$89,030

Up $4,267 (+4.6%) from 2020

Historical Trend

Balance Sheet Trend

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

2021

Assets$2,033,845
Liabilities$749,419
Net Assets$1,284,426

Operations Trend

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

2021

Revenue$66,126
Expenses$155,156
Net Income-$89,030
Jump To
Filing Snapshot
Filing Period
Oct 1, 2020 to Sep 30, 2021
Signed
Aug 12, 2022
Return Version
2020v4.0
Gross Receipts
$162,638
Mission and Program Overview

Mission

To support the american boat & yacht council, inc.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,067,490$1,989,294▼ $78,196
Cash and Non-Interest-Bearing Accounts$24,910$31,518▲ $6,608
Prepaid Expenses and Deferred Charges$19,610$13,033▼ $6,577
Total Assets$2,112,010$2,033,845▼ $78,165
Liabilities
Mortgage Notes Payable Secured by Investment Property$605,963$581,635▼ $24,328
Other Liabilities$124,580$153,933▲ $29,353
Deferred Revenue-$10,860-
Accounts Payable and Accrued Expenses$7,010$2,991▼ $4,019
Total Liabilities$737,553$749,419▲ $11,866
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,307,898$1,252,765▼ $55,133
Net Assets With Donor Restrictions$66,559$31,661▼ $34,898
Total Net Assets Fund Balance$1,374,457$1,284,426▼ $90,031
Total Liabilities and Net Assets / Fund Balance$2,112,010$2,033,845▼ $78,165

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$861,123$890,322$1,751,445
Land$795,000-$795,000
Leasehold Improvements$294,207$254,799$549,006
Other Land Buildings$8,599$131,340$139,939
Equipment$30,365$18,335$48,700
Compensation and Service Providers

Board Members and Trustees

NameTitle
John AdeySecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$51,142
Program Service Revenue
$100,612
Investment Income
$0
Other Revenue
$-85,628
All Other Contributions
$51,142
Change in Net Assets
$-89,030

Audited Revenue Reconciliation

Revenue per Audited Statements
$66,126
Revenue Not Reported on Form 990
$152,948
Total Revenue per Audited Statements
$219,074
Total Revenue per Form 990
$66,126
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$155,156
Total Fundraising Expense$6,804
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$43,471--$43,471
Fees for Services Other$14,196-$6,804$21,000
Interest$14,110--$14,110
Other Expenses$4,928--$4,928
Fees for Services Accounting-$2,225-$2,225
Insurance-$1,838-$1,838
Advertising$844--$844
All Other Expenses$150$580-$730
Office Expenses$702--$702
Total Functional Expenses$143,709$4,643$6,804$155,156

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$308,104
Expenses per Audited Statements$155,156
Total Expenses per Form 990$155,156
Expenses Not Reported on Form 990$152,948
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$153,933
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 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
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 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
2022-08-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Adey
Formed
1989
Legal Domicile
Md
Voting Board Members
1
Independent Board Members
1
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 IX, Line 11G

Management fee 14,196 0 6,804

Form 990, Part XI, Line 9

Rental expenses 91,954 rental expenses -91,954

Financial Statement Notes

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

RENTAL EXPENSES 91,954

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

RENTAL EXPENSES 91,954

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IRS990ScheduleD/TotalExpensesPerForm990Amt0155156
IRS990ScheduleD/TotalLiabilityAmt0153933
IRS990ScheduleD/TotalRevenuePerForm990Amt066126
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0219074
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0308104
IRS990ScheduleJ/AnyNonFixedPaymentsInd0false
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt035000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0175341
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0JOHN ADEY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0SECRETARY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0210341
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/ExplanationTxt2MADE AVAILABLE AT MAIN OFFICE DURING NORMAL BUSINESS HOURS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3MANAGEMENT FEE 14,196 0 6,804
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4RENTAL EXPENSES 91,954 RENTAL EXPENSES -91,954
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 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
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/ReimbursementPaidByOtherOrgInd0true
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0true
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0true
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0true
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0581635
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt160000
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0FMV LOAN
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1LEASE
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0AMERICAN BOAT & YACHT COUNCIL INC
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1AMERICAN BOAT & YACHT COUNCIL INC
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0E
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1J
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0MD
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02112010
IRS990/TotalAssetsEOYAmt02033845
IRS990/TotalAssetsGrp/BOYAmt02112010
IRS990/TotalAssetsGrp/EOYAmt02033845
IRS990/TotalCompGreaterThan150KInd0true
IRS990/TotalContributionsAmt051142
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt06804
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt04643
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0143709
IRS990/TotalFunctionalExpensesGrp/TotalAmt0155156
IRS990/TotalGrossUBIAmt0-85628
IRS990/TotalLiabilitiesBOYAmt0737553
IRS990/TotalLiabilitiesEOYAmt0749419
IRS990/TotalLiabilitiesGrp/BOYAmt0737553
IRS990/TotalLiabilitiesGrp/EOYAmt0749419
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01374457
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01284426
IRS990/TotalProgramServiceExpensesAmt0143709
IRS990/TotalProgramServiceRevenueAmt0100612
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0100612
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt066126
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt0-85628
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02112010
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02033845
IRS990/TotReportableCompRltdOrgAmt0210341
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0true
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0613 THIRD STREET SUITE 10
IRS990/USAddress/CityNm0ANNAPOLIS
IRS990/USAddress/StateAbbreviationCd0MD
IRS990/USAddress/ZIPCd021403
IRS990/VotingMembersGoverningBodyCnt01
IRS990/VotingMembersIndependentCnt01
IRS990/WebsiteAddressTxt0WWW.ABYCINC.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JOHN ADEY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY
ReturnHeader/BusinessOfficerGrp/PhoneNum04109904460
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-08-12
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
ReturnHeader/Filer/USAddress/ZIPCd021403

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