Civic Intelligence

The Virtue Foundation

990 • Fiscal year 2020 • EIN 56-2289262

Jan 01, 2020 to Dec 31, 2020 • Filed on Jun 10, 2021

Organization ProfileWWW.VIRTUEFOUNDATION.ORG
1040 First Avenue Rm/Ste 116New York, NY 10022

(212) 355-2227

Siviq Scores

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

Liabilities / Assets

11th percentile

0.00x

Higher debt load relative to assets than 11% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Liabilities / Revenue

11th percentile

0.01x

Higher debt load relative to revenue than 11% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Net Margin

91st percentile

53%

Higher net margin than 91% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Top Officer Pay

21st percentile

$0

Higher top officer pay than 21% of similar nonprofits.

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

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Asset Growth

91st percentile

63%

Faster asset growth than 91% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Revenue Growth

87th percentile

47%

Faster revenue growth than 87% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets11th percentile

Assets

Up

$5,212,869

Up $2,014,886 (+63%) from 2019

Net Assets

Up

$5,207,244

Up $2,015,314 (+63%) from 2019

Liabilities

Down

$5,625

Down $428 (-7.1%) from 2019

Revenue And Expenses
Liabilities / Revenue11th percentileNet Margin91st percentile

Revenue

Up

$767,065

Up $243,821 (+47%) from 2019

Expenses

Down

$360,045

Down $133,190 (-27%) from 2019

Net Income

Up

$407,020

Up $377,011 (+1256%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth91st percentile

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

$6.0M$4.0M$2.0M$0Assets 2011: $1,675,731Liabilities 2011: $33,177Net Assets 2011: $1,642,5542011Assets 2012: $1,511,797Liabilities 2012: $33,078Net Assets 2012: $1,478,7192012Assets 2013: $1,870,345Liabilities 2013: $4,708Net Assets 2013: $1,865,6372013Assets 2014: $1,913,520Liabilities 2014: $5,791Net Assets 2014: $1,907,7292014Assets 2015: $1,977,799Liabilities 2015: $7,589Net Assets 2015: $1,970,2102015Assets 2016: $1,959,876Liabilities 2016: $7,346Net Assets 2016: $1,952,5302016Assets 2017: $2,510,972Liabilities 2017: $5,643Net Assets 2017: $2,505,3292017Assets 2018: $2,728,543Liabilities 2018: $5,161Net Assets 2018: $2,723,3822018Assets 2019: $3,197,983Liabilities 2019: $6,053Net Assets 2019: $3,191,9302019Assets 2020: $5,212,869Liabilities 2020: $5,625Net Assets 2020: $5,207,2442020Assets 2021: $5,191,328Liabilities 2021: $13,693Net Assets 2021: $5,177,6352021Assets 2022: $2,861,585Liabilities 2022: $9,678Net Assets 2022: $2,851,9072022Assets 2023: $4,198,510Liabilities 2023: $3,838Net Assets 2023: $4,194,6722023Assets 2024: $5,605,866Liabilities 2024: $3,779Net Assets 2024: $5,602,0872024

Highlighted filing

2020

Assets$5,212,869
Liabilities$5,625
Net Assets$5,207,244
Open 2020 Filing

Operations Trend

Revenue Growth87th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $360,279Expenses 2011: $497,736Net Income 2011: -$137,4572011Expenses 2012: $370,7542012Revenue 2013: $552,025Expenses 2013: $395,458Net Income 2013: $156,5672013Revenue 2014: $253,800Expenses 2014: $308,061Net Income 2014: -$54,2612014Revenue 2015: $286,419Expenses 2015: $260,734Net Income 2015: $25,6852015Revenue 2016: $305,039Expenses 2016: $280,684Net Income 2016: $24,3552016Revenue 2017: $405,763Expenses 2017: $308,799Net Income 2017: $96,9642017Revenue 2018: $860,906Expenses 2018: $408,811Net Income 2018: $452,0952018Revenue 2019: $523,244Expenses 2019: $493,235Net Income 2019: $30,0092019Revenue 2020: $767,065Expenses 2020: $360,045Net Income 2020: $407,0202020Revenue 2021: $2,108,321Expenses 2021: $499,677Net Income 2021: $1,608,6442021Revenue 2022: -$344,609Expenses 2022: $568,926Net Income 2022: -$913,5352022Revenue 2023: $801,905Expenses 2023: $478,149Net Income 2023: $323,7562023Revenue 2024: $895,142Expenses 2024: $523,394Net Income 2024: $371,7482024

Highlighted filing

2020

Revenue$767,065
Expenses$360,045
Net Income$407,020
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Jun 10, 2021
Return Version
2020v4.0
Gross Receipts
$4,814,589
Mission and Program Overview

Mission

The foundation's mission is to increase awareness of prevalent global issues, to inspire people to action and to render humanitarian assistance through healthcare, education and empowerment initiatives.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$3,072,601$4,950,711▲ $1,878,110
Cash and Non-Interest-Bearing Accounts$94,909$209,404▲ $114,495
Savings and Temporary Cash Investments$27,804$51,433▲ $23,629
Land, Buildings, and Equipment, Net$2,660$1,321▼ $1,339
Prepaid Expenses and Deferred Charges$9--
Total Assets$3,197,983$5,212,869▲ $2,014,886
Liabilities
Other Liabilities$6,053$5,625▼ $428
Total Liabilities$6,053$5,625▼ $428
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,191,930$5,207,244▲ $2,015,314
Total Net Assets Fund Balance$3,191,930$5,207,244▲ $2,015,314
Total Liabilities and Net Assets / Fund Balance$3,197,983$5,212,869▲ $2,014,886

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$1,321$43,117$44,438
Equipment-$1,915$1,915
Compensation and Service Providers
Top Officer Pay21st percentile

Board Members and Trustees

NameTitle
Joseph Salim DmdExecutive Di
Joan Larovere MdSecretary
Shahpari Nazeri DdsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$539,002
Program Service Revenue
$0
Investment Income
$228,063
Other Revenue
$0
All Other Contributions
$512,287
Change in Net Assets
$407,020
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$171,082
Other Expenses$164,479
Grants and Similar Amounts Paid$24,484
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$149,000-$149,000
Occupancy-$30,144-$30,144
Grants to Domestic Orgs$14,484--$14,484
Fees for Services Accounting-$12,993-$12,993
Payroll Taxes-$11,283-$11,283
Other Employee Benefits-$10,799-$10,799
Foreign Grants$10,000--$10,000
Fees for Services Legal-$3,500-$3,500
Other Expenses$3,118--$3,118
All Other Expenses-$3,103-$3,103
Insurance-$2,645-$2,645
Office Expenses-$2,628-$2,628
Depreciation Depletion-$1,339-$1,339
Advertising-$465-$465
Total Functional Expenses$132,146$227,899$0$360,045
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Hagar USA IncPhoenix, AZ--$14,484

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No
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 Chase Credit Card$5,625
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“The organization's personnel most familiar with its' financial affairs reviews the form 990”

Form 990, Page 6, Part VI, Line 19

“Governing documents, conflict of interest policy and financial statements are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
The Virtue Foundation
EIN
56-2289262
Phone
2123552227
Address
1040 FIRST AVENUE RM/STE 116, NEW YORK, NY 10022

Signing Officer

Name
Joseph Salim Dmd
Title
Executive Director
Phone
2123552227
Signed
2021-06-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joseph Salim Dmd
Formed
2002
Legal Domicile
Ny
Voting Board Members
3
Independent Board Members
2
Employees
2

Preparer

Firm
Manela & Pressman Llp
Address
362 FIFTH AVE SUITE 503, NEW YORK, NY 10001
Preparer
Aaron Y Pressman
Phone
2125944044
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Part I, Line 6

“Doctors and students volunteering their services and time in various third world countries”

Form 990, Page 2, Part III, Line 4A

“Data mapping for good dun & bradstreet and virtue foundation partner to improve access to medical care in developing countries. The virtue foundation data mapping initiative is a forward-thinking technology platform that seeks to create a more efficient marketplace for the delivery of healthcare in under-served regions of the world. Born of years of on the ground medical missions, the platform leverages predictive analytics and machine learning algorithms to analyze geospatial data, infrastructure, risk factors, and other environmental conditions to better predict need and match available resources. Through a simple and free user interface, the platform seeks to provide individuals, non-profits, governments, and companies with more efficient access to the data needed to help make critical decisions on how to most efficiently allocate resources for greatest impact.”

Form 990, Page 2, Part III, Line 4D

“Due to the covid-19 pandemic the virtue foundation donated ppe it had amassed for its usual medical mission to various medical institutions to be used by healthcare workers who needed it to combat the pandemic.”

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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/ProgSrvcAccomActy2Grp/Desc0VIRTUE FOUNDATION PROVIDES EDUCATIONAL SCHOLARSHIPS TO MEDICALLY CHALLENGED STUDENTS IN TECHNOLOGICAL AREAS WITH A SPOTLIGHT ON THE IMPORTANCE OF COMMUNITY SERVICE AND IMPACT OF PHILANTHROPY.
IRS990/ProgSrvcAccomActy3Grp/Desc0VIRTUE FOUNDATION HAS SET UP A TWO PRONG APPROACH TO ADVANCING GENERAL HEALTH IN DEVELOPING COUNTRIES SUCH AS MONGOLIA AND GHANA. MEDICAL PERSONNEL TRAVEL TO THE RURAL AREAS TO PROVIDE MUCH- NEEDED MEDICAL ASSISTANCE TO THE INHABITANTS IN ADDITION TO PROVIDING THE ACTUAL EQUIPMENT AND MEDICAL TRAINING SO THAT THE MEDICAL ASSISTANCE CAN BE SUSTAINED LONG-TERM.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DATA MAPPING FOR GOOD DUN & BRADSTREET AND VIRTUE FOUNDATION PARTNER TO IMPROVE ACCESS TO MEDICAL CARE IN DEVELOPING COUNTRIES. THE VIRTUE FOUNDATION DATA MAPPING INITIATIVE IS A FORWARD-THINKING TECHNOLOGY PLATFORM THAT SEEKS TO CREATE A MORE EFFICIENT MARKETPLACE FOR THE DELIVERY OF HEALTHCARE IN UNDER-SERVED REGIONS OF THE WORLD. BORN OF YEARS OF ON THE GROUND MEDICAL MISSIONS, THE PLATFORM LEVERAGES PREDICTIVE ANALYTICS AND MACHINE LEARNING ALGORITHMS TO ANALYZE GEOSPATIAL DATA, INFRASTRUCTURE, RISK FACTORS, AND OTHER ENVIRONMENTAL CONDITIONS TO BETTER PREDICT NEED AND MATCH AVAILABLE RESOURCES. THROUGH A SIMPLE AND FREE USER INTERFACE, THE PLATFORM SEEKS TO PROVIDE INDIVIDUALS, NON-PROFITS, GOVERNMENTS, AND COMPANIES WITH MORE EFFICIENT ACCESS TO THE DATA NEEDED TO HELP MAKE CRITICAL DECISIONS ON HOW TO MOST EFFICIENTLY ALLOCATE RESOURCES FOR GREATEST IMPACT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DUE TO THE COVID-19 PANDEMIC THE VIRTUE FOUNDATION DONATED PPE IT HAD AMASSED FOR ITS USUAL MEDICAL MISSION TO VARIOUS MEDICAL INSTITUTIONS TO BE USED BY HEALTHCARE WORKERS WHO NEEDED IT TO COMBAT THE PANDEMIC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION'S PERSONNEL MOST FAMILIAR WITH ITS' FINANCIAL AFFAIRS REVIEWS THE FORM 990
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4A
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
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ReturnHeader/ReturnTypeCd0990
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ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,212,869
Liabilities
$5,625
Net assets
$5,207,244
Revenue
$767,065
Expenses
$360,045
Net income
$407,020
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.61$0.00$5.60$0.90$0.52$0.37
2023Detailed filing. Detailed filing data is available for this year.$4.20$0.00$4.19$0.80$0.48$0.32
2022Detailed filing. Detailed filing data is available for this year.$2.86$0.01$2.85$0.34$0.57$0.91
2021Detailed filing. Detailed filing data is available for this year.$5.19$0.01$5.18$2.11$0.50$1.61
2020Detailed filing. Detailed filing data is available for this year.$5.21$0.01$5.21$0.77$0.36$0.41
2019Detailed filing. Detailed filing data is available for this year.$3.20$0.01$3.19$0.52$0.49$0.03
2018Detailed filing. Detailed filing data is available for this year.$2.73$0.01$2.72$0.86$0.41$0.45
2017Detailed filing. Detailed filing data is available for this year.$2.51$0.01$2.51$0.41$0.31$0.10
2016Detailed filing. Detailed filing data is available for this year.$1.96$0.01$1.95$0.31$0.28$0.02
2015Detailed filing. Detailed filing data is available for this year.$1.98$0.01$1.97$0.29$0.26$0.03
2014Summary only. Only limited summary data is available for this year.$1.91$0.01$1.91$0.25$0.31$0.05
2013Detailed filing. Detailed filing data is available for this year.$1.87$0.00$1.87$0.55$0.40$0.16
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.51$0.03$1.48$0.37
2011Summary only. Only limited summary data is available for this year.$1.68$0.03$1.64$0.36$0.50$0.14