Civic Intelligence

Project Scholars Inc.

990 • Fiscal year 2020 • EIN 54-2079731

Oct 01, 2019 to Sep 30, 2020 • Filed on Feb 01, 2021

PO Box 121543Clermont, FL 34711

(352) 516-5897

Siviq Scores

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

Liabilities / Assets

59th percentile

0.00x

Higher debt load relative to assets than 59% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

98th percentile

4.51x

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

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

1st percentile

-54977%

Higher net margin than 1% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Asset Growth

13th percentile

-33%

Faster asset growth than 13% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

2nd percentile

-100%

Faster revenue growth than 2% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Assets

Down

$118,372

Down $57,790 (-33%) from 2019

Net Assets

Down

$117,921

Down $54,074 (-31%) from 2019

Liabilities

Down

$451

Down $3,716 (-89%) from 2019

Revenue

Down

$100

Down $133,624 (-100%) from 2019

Expenses

Down

$55,077

Down $39,962 (-42%) from 2019

Net Income

Down

-$54,977

Down $93,662 (-242%) from 2019

Historical Trend

Balance Sheet Trend

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

$600K$400K$200K$0Assets 2011: $31,795Liabilities 2011: $02011Assets 2012: $33,172Liabilities 2012: $02012Assets 2013: $22,072Liabilities 2013: $0Net Assets 2013: $22,0722013Assets 2014: $19,300Liabilities 2014: $0Net Assets 2014: $19,3002014Assets 2015: $33,292Liabilities 2015: $0Net Assets 2015: $33,2922015Assets 2016: $26,428Liabilities 2016: $0Net Assets 2016: $26,4282016Assets 2017: $129,660Liabilities 2017: $408Net Assets 2017: $129,2522017Assets 2018: $133,614Liabilities 2018: $304Net Assets 2018: $133,3102018Assets 2019: $176,162Liabilities 2019: $4,167Net Assets 2019: $171,9952019Assets 2020: $118,372Liabilities 2020: $451Net Assets 2020: $117,9212020Assets 2021: $216,561Liabilities 2021: $94,830Net Assets 2021: $121,7312021Assets 2022: $331,487Liabilities 2022: $185,042Net Assets 2022: $146,4452022Assets 2023: $364,444Liabilities 2023: $167,151Net Assets 2023: $197,2932023Assets 2024: $457,415Liabilities 2024: $184,742Net Assets 2024: $272,6732024Assets 2025: $312,117Liabilities 2025: $69,815Net Assets 2025: $242,3022025

Highlighted filing

2020

Assets$118,372
Liabilities$451
Net Assets$117,921

Operations Trend

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

$300K$200K$100K$0-$100KRevenue 2011: $49,916Expenses 2011: $40,473Net Income 2011: $9,4432011Revenue 2012: $158,531Expenses 2012: $139,587Net Income 2012: $18,9442012Expenses 2013: $213,6642013Revenue 2014: $239,843Expenses 2014: $242,615Net Income 2014: -$2,7722014Revenue 2015: $121,442Expenses 2015: $107,450Net Income 2015: $13,9922015Revenue 2016: $120,437Expenses 2016: $127,301Net Income 2016: -$6,8642016Revenue 2017: $172,418Expenses 2017: $153,417Net Income 2017: $19,0012017Revenue 2018: $137,418Expenses 2018: $133,360Net Income 2018: $4,0582018Revenue 2019: $133,724Expenses 2019: $95,039Net Income 2019: $38,6852019Revenue 2020: $100Expenses 2020: $55,077Net Income 2020: -$54,9772020Revenue 2021: $11,128Expenses 2021: $7,318Net Income 2021: $3,8102021Revenue 2022: $138,347Expenses 2022: $124,259Net Income 2022: $14,0882022Revenue 2023: $116,682Expenses 2023: $62,833Net Income 2023: $53,8492023Revenue 2024: $147,456Expenses 2024: $72,076Net Income 2024: $75,3802024Revenue 2025: $173,034Expenses 2025: $213,405Net Income 2025: -$40,3712025

Highlighted filing

2020

Revenue$100
Expenses$55,077
Net Income-$54,977
Jump To
Filing Snapshot
Filing Period
Oct 1, 2019 to Sep 30, 2020
Signed
Feb 1, 2021
Return Version
2019v5.1
Gross Receipts
$100
Mission and Program Overview

Mission

Pig on the Pond was incorporated in October 2002 as a supporting organization of the Community Foundation of South Lake County, Inc. for the purpose of conducting an annual barbecue competition and festival. The net proceeds of the events are used for scholarships and grants.

See Schedule O

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$45,415$21,996▼ $23,419
Total Assets$176,162$118,372▼ $57,790
Other Assets Total$130,747$96,376▼ $34,371
Liabilities
Deferred Revenue$2,727--
Accounts Payable and Accrued Expenses$904--
Other Liabilities$536$451▼ $85
Total Liabilities$4,167$451▼ $3,716
Net Assets / Fund Balance
Net Assets With Donor Restrictions$84,971$72,462▼ $12,509
Net Assets Without Donor Restrictions$87,024$45,459▼ $41,565
Total Net Assets Fund Balance$171,995$117,921▼ $54,074
Total Liabilities and Net Assets / Fund Balance$176,162$118,372▼ $57,790

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$2,142--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$567,744-▲ $83,466$25,000$617,565
2018$544,959$32,485▲ $27,073$28,360$567,744
2017$454,256$81,584▲ $28,296$13,750$544,959
2016$349,502$100,000▲ $46,826$34,728$454,256
2015$233,684$120,000▲ $22,956$23,098$349,502
Compensation and Service Providers

Board Members and Trustees

NameTitle
Paul RountreePresident
Michael LathamVice President
-Director
Angela RatterDirector
Armando TautivaDirector
Gigi CapriaDirector
Jill SwidlerDirector
Jo Ann JonesDirector
Kathryn DeenDirector
Mike MitchellDirector
Pam ServissDirector
Patty DelaneyDirector
Richard ChapmanDirector
Tom EnglishDirector
Nancy SrodesSecretary
Don RoseTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$100
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$100
Change in Net Assets
$-54,977
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$47,520
Salaries, Compensation, and Employee Benefits$7,557
Total Fundraising Expense$93
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$7,020-$7,020
Fees for Services Management-$5,151-$5,151
Advertising$3,290--$3,290
Fees for Services Accounting-$2,007-$2,007
Insurance-$592-$592
Payroll Taxes-$537-$537
Office Expenses-$428-$428
All Other Expenses-$250-$250
Other Expenses-$161-$161
Conferences and Meetings--$93$93
Total Functional Expenses$3,290$51,694$93$55,077
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
Federal income taxes$451
Chase-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
No
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section Organizations Process to Review Form 990, Line 11B

The Tax Forms are reviewed by the board of directors

Form 990, Part VI, Section Governing Documents Disclosure Explanation, Line 19

Form 990 is available to the public upon request

Filing and Contact Details

Filer

Filer Name
Project Scholars Inc
EIN
54-2079731
Address
PO Box 121543, Clermont, FL 34711
Doing Business As
Pig on the Pond

Signing Officer

Name
Paul Rountree
Title
President
Signed
2021-02-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Paul Roundtree
Formed
2002
Legal Domicile
Fl
Voting Board Members
16
Independent Board Members
16
Employees
1

Preparer

Firm
All Your Financial Needs Inc
Address
PO BOX 1923, Minneola, FL 34755
Preparer
Denise Calderon
Phone
4075591047
Supplemental Narrative

Additional Explanations

Form 990, Part III, Section Question 3, Line 3

The annual Pig on the Pond event, the major program of Project Scholars, was canceled this fiscal year. No other event was scheduled due to COVID-19. Project Scholars still awarded scholarships.

Form 990, Part III, Section Mission Statement, Line 1

Pig on the Pond was incorporated in October 2002 as a supporting organization of the Community Foundation of South Lake County, Inc. for the purpose of conducting an annual barbecue competition and festival. The net proceeds of the events are used for scholarships and grants.

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IRS990/OtherExpensesGrp/TotalAmt3161
IRS990/OtherLiabilitiesGrp/BOYAmt0536
IRS990/OtherLiabilitiesGrp/EOYAmt0451
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt07020
IRS990/OtherSalariesAndWagesGrp/TotalAmt07020
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt0537
IRS990/PayrollTaxesGrp/TotalAmt0537
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0Paul Roundtree
IRS990/PriorPeriodAdjustmentsAmt0903
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0116461
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt032485
IRS990/PYInvestmentIncomeAmt05078
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt061650
IRS990/PYOtherRevenueAmt012185
IRS990/PYRevenuesLessExpensesAmt038685
IRS990/PYSalariesCompEmpBnftPaidAmt0904
IRS990/PYTotalExpensesAmt095039
IRS990/PYTotalRevenueAmt0133724
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-54977
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990ScheduleA/FactsAndCircumstancesTestTxt0Part IV Section B Line 1 Supported organizations not Listed by Name Controlling Organization Board of Directors must be voted on by a 5 person committee which is made up of majority of Controlled Organizations Board of Directors.
IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd0true
IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd0false
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/OperateBenefitNonSuprtOrgInd0false
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd0false
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/PublicSupportCY170Pct00.00000
IRS990ScheduleA/PublicSupportCY509Pct00.00000
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0593343026
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd0true
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd09
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0Community Foundation of South Lake Inc
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType1Ind0X
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BoardDesignatedBalanceEOYPct01.00000
IRS990ScheduleD/CYEndwmtFundGrp/AdministrativeExpensesAmt08645
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt0567744
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt0617565
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt083466
IRS990ScheduleD/CYEndwmtFundGrp/OtherExpendituresAmt025000
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/AdministrativeExpensesAmt08413
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt0544959
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt032485
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt0567744
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt027073
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/OtherExpendituresAmt028360
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/AdministrativeExpensesAmt05427
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt0454256
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt081584
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt0544959
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt028296
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/OtherExpendituresAmt013750
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/AdministrativeExpensesAmt07344
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt0349502
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt0100000
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt0454256
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt046826
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/OtherExpendituresAmt034728
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/AdministrativeExpensesAmt04040
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt0233684
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt0120000
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt0349502
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt022956
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/OtherExpendituresAmt023098
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd0true
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd0false
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt021772
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt172462
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt22142
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Community Foundation Fund
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1Valencia College Foundation
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2Lake Sumter Community College
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0451
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Chase
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/RelatedOrgListSchRInd0true
IRS990ScheduleD/TotalBookValueOtherAssetsAmt096376
IRS990ScheduleD/TotalLiabilityAmt0451
IRS990ScheduleI/GrantRecordsMaintainedInd0false
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The annual Pig on the Pond event, the major program of Project Scholars, was canceled this fiscal year. No other event was scheduled due to COVID-19. Project Scholars still awarded scholarships.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Pig on the Pond was incorporated in October 2002 as a supporting organization of the Community Foundation of South Lake County, Inc. for the purpose of conducting an annual barbecue competition and festival. The net proceeds of the events are used for scholarships and grants.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Tax Forms are reviewed by the board of directors
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Form 990 is available to the public upon request
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part III, Section Question 3, Line 3

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$3.12$0.70$2.42$1.73$2.13$0.40
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.57$1.85$2.73$1.47$0.72$0.75
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.64$1.67$1.97$1.17$0.63$0.54
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.31$1.85$1.46$1.38$1.24$0.14
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.17$0.95$1.22$0.11$0.07$0.04
2020Detailed filing. Detailed filing data is available for this year.$1.18$0.00$1.18$0.00$0.55$0.55
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.76$0.04$1.72$1.34$0.95$0.39
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.34$0.00$1.33$1.37$1.33$0.04
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.30$0.00$1.29$1.72$1.53$0.19
2016Summary only. Only limited summary data is available for this year.$0.26$0.00$0.26$1.20$1.27$0.07
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.33$0.00$0.33$1.21$1.07$0.14
2014Detailed filing. Detailed filing data is available for this year.$0.19$0.00$0.19$2.40$2.43$0.03
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.22$0.00$0.22$2.14
2012Summary only. Only limited summary data is available for this year.$0.33$0.00$1.59$1.40$0.19
2011Summary only. Only limited summary data is available for this year.$0.32$0.00$0.50$0.40$0.09