Civic Intelligence

Project Scholars Inc.

990 • Fiscal year 2019 • EIN 54-2079731

Oct 01, 2018 to Sep 30, 2019 • Filed on Feb 13, 2020

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

69th percentile

0.02x

Higher debt load relative to assets than 69% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

74th percentile

0.03x

Higher debt load relative to revenue than 74% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Net Margin

83rd percentile

29%

Higher net margin than 83% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Top Officer Pay

77th percentile

$0

Higher top officer pay than 77% of similar nonprofits.

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

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Asset Growth

78th percentile

32%

Faster asset growth than 78% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

44th percentile

-2.7%

Faster revenue growth than 44% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Assets

Up

$176,162

Up $42,548 (+32%) from 2018

Net Assets

Up

$171,995

Up $38,685 (+29%) from 2018

Liabilities

Up

$4,167

Up $3,863 (+1271%) from 2018

Revenue

Down

$133,724

Down $3,694 (-2.7%) from 2018

Expenses

Down

$95,039

Down $38,321 (-29%) from 2018

Net Income

Up

$38,685

Up $34,627 (+853%) from 2018

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

2019

Assets$176,162
Liabilities$4,167
Net Assets$171,995

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

2019

Revenue$133,724
Expenses$95,039
Net Income$38,685
Jump To
Filing Snapshot
Filing Period
Oct 1, 2018 to Sep 30, 2019
Signed
Feb 13, 2020
Return Version
2018v3.1
Gross Receipts
$239,908
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$8,565$45,415▲ $36,850
Total Assets$133,614$176,162▲ $42,548
Other Assets Total$125,049$130,747▲ $5,698
Liabilities
Deferred Revenue-$2,727-
Accounts Payable and Accrued Expenses$304$904▲ $600
Other Liabilities-$536-
Total Liabilities$304$4,167▲ $3,863
Net Assets / Fund Balance
Unrestricted Net Assets$53,416$87,024▲ $33,608
Temporarily Rstr Net Assets$79,894$84,971▲ $5,077
Total Net Assets Fund Balance$133,310$171,995▲ $38,685
Total Liabilities and Net Assets / Fund Balance$133,614$176,162▲ $42,548

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$28,801--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
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
2014$173,912$107,450▼ $6,598$38,098$233,684
Compensation and Service Providers

Board Members and Trustees

NameTitle
Pat CaraccioloPresident
Paul RountreeVice President
Angela RatterDirector
Anita Geraci-Carver PADirector
Jessica WhitehouseDirector
Jill SwidlerDirector
Michael LathamDirector
Mike MitchellDirector
Pam ServissDirector
Patty DelaneyDirector
Richard ChapmanDirector
Tanga TeasleyDirector
Tom EnglishDirector
Nancy SrodesSecretary
Don RoseTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$116,461
Program Service Revenue
$0
Investment Income
$5,078
Other Revenue
$12,185
Change in Net Assets
$38,685
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$61,650
Grants and Similar Amounts Paid$32,485
Total Fundraising Expense$19,028
Salaries, Compensation, and Employee Benefits$904
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management-$35,049-$35,049
Grants to Domestic Orgs$32,485--$32,485
Advertising-$3,890$17,393$21,283
Office Expenses-$525$1,540$2,065
Fees for Services Accounting-$1,228-$1,228
Other Salaries and Wages-$840-$840
Other Expenses-$149-$149
All Other Expenses-$108-$108
Information Technology--$95$95
Payroll Taxes-$64-$64
Total Functional Expenses$32,485$43,526$19,028$95,039
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Community Foundation of South Lake IncClermont, FL-Scholarships$32,485
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$118,369
Fundraising Direct Expenses$106,184
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Pig on the Pond$239,908$121,539$106,184$15,355
Total Events$239,908$121,539$106,184$15,355
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$536
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 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 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
2020-02-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Pat Caracciolo
Formed
2002
Legal Domicile
Fl
Voting Board Members
14
Independent Board Members
14
Employees
0

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 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.

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

The Tax Forms are reviewed by the board of directors

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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/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0Community Foundation Fees
IRS990/OtherExpensesGrp/Desc1Dues Subscriptions
IRS990/OtherExpensesGrp/Desc2Cell Phone/Internet
IRS990/OtherExpensesGrp/Desc3Staff Volunteer Gifts
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0-620
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt11066
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt3149
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IRS990/PensionPlanContributionsGrp/TotalAmt00
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IRS990/PrincipalOfficerNm0Pat Caracciolo
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IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0134980
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IRS990/PYGrantsAndSimilarPaidAmt081584
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IRS990/ReconcilationRevenueExpnssAmt038685
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IRS990/RelatedEntityInd0true
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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.
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IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/OperateBenefitNonSuprtOrgInd0false
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd0false
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IRS990ScheduleA/PublicSupportCY170Pct00.00000
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt032485
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0Community Foundation of South Lake Inc
IRS990ScheduleA/SupportingOrganization509a3Ind0X
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IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt027073
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IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/AdministrativeExpensesAmt02982
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt016975
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt184971
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt228801
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Community Foundation Fund
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1Valencia College Foundation
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2Lake Sumter Community College
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0536
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Chase
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
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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
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.18$0.00$1.18$0.00$0.55$0.55
2019Detailed filing. Detailed filing data is available for this year.$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