Civic Intelligence

Carnival Educational Fund Inc.

990 • Fiscal year 2014 • EIN 58-1763512

Aug 01, 2013 to Jul 31, 2014 • Filed on Feb 09, 2015

Organization ProfileN/A
4735 Spottswood Ave No 10338117

(901) 458-2500

Siviq Scores

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

Liabilities / Assets

94th percentile

1.03x

Higher debt load relative to assets than 94% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Liabilities / Revenue

89th percentile

0.31x

Higher debt load relative to revenue than 89% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Net Margin

32nd percentile

-3.6%

Higher net margin than 32% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Top Officer Pay

74th percentile

$0

Higher top officer pay than 74% of similar nonprofits.

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

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Asset Growth

21st percentile

-18%

Faster asset growth than 21% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Annualized from 2013 to 2014

Revenue Growth

73rd percentile

21%

Faster revenue growth than 73% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Annualized from 2012 to 2014

Balance Sheet
Liabilities / Assets94th percentile

Assets

Down

$66,828

Down $14,579 (-18%) from 2013

Net Assets

Down

-$2,068

Down $8,063 (-134%) from 2013

Liabilities

Down

$68,896

Down $6,516 (-8.6%) from 2013

Revenue And Expenses
Liabilities / Revenue89th percentileNet Margin32nd percentile

Revenue

$223,014

No earlier filing loaded for comparison.

Expenses

Up

$231,077

Up $22,204 (+11%) from 2013

Net Income

-$8,063

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth21st percentile

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

$600K$400K$200K$0-$200KAssets 2011: $51,743Liabilities 2011: $14,214Net Assets 2011: $37,5292011Assets 2012: $71,002Liabilities 2012: $68,000Net Assets 2012: $3,0022012Assets 2013: $81,407Liabilities 2013: $75,412Net Assets 2013: $5,9952013Assets 2014: $66,828Liabilities 2014: $68,896Net Assets 2014: -$2,0682014Assets 2015: $55,496Liabilities 2015: $61,372Net Assets 2015: -$5,8762015Assets 2016: $24,067Liabilities 2016: $31,074Net Assets 2016: -$7,0072016Assets 2017: $124,538Liabilities 2017: $100,167Net Assets 2017: $24,3712017Assets 2018: $150,814Liabilities 2018: $57,743Net Assets 2018: $93,0712018Assets 2019: $234,707Liabilities 2019: $81,759Net Assets 2019: $152,9482019Assets 2020: $337,614Liabilities 2020: $157,498Net Assets 2020: $180,1162020Assets 2021: $381,224Liabilities 2021: $153,169Net Assets 2021: $228,0552021Assets 2022: $314,939Liabilities 2022: $99,287Net Assets 2022: $215,6522022Assets 2023: $338,923Liabilities 2023: $108,816Net Assets 2023: $230,1072023Assets 2024: $414,957Liabilities 2024: $167,869Net Assets 2024: $247,0882024Assets 2025: $384,240Liabilities 2025: $112,687Net Assets 2025: $271,5532025

Highlighted filing

2014

Assets$66,828
Liabilities$68,896
Net Assets-$2,068
Open 2014 Filing

Operations Trend

Revenue Growth73rd percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2011: $180,794Expenses 2011: $186,732Net Income 2011: -$5,9382011Revenue 2012: $152,200Expenses 2012: $186,727Net Income 2012: -$34,5272012Expenses 2013: $208,8732013Revenue 2014: $223,014Expenses 2014: $231,077Net Income 2014: -$8,0632014Revenue 2015: $223,632Expenses 2015: $227,440Net Income 2015: -$3,8082015Revenue 2016: $226,130Expenses 2016: $227,261Net Income 2016: -$1,1312016Revenue 2017: $421,563Expenses 2017: $390,185Net Income 2017: $31,3782017Revenue 2018: $503,823Expenses 2018: $435,131Net Income 2018: $68,6922018Revenue 2019: $522,788Expenses 2019: $462,981Net Income 2019: $59,8072019Revenue 2020: $135,151Expenses 2020: $107,972Net Income 2020: $27,1792020Revenue 2021: $100,921Expenses 2021: $52,982Net Income 2021: $47,9392021Revenue 2022: $1,001,340Expenses 2022: $1,013,776Net Income 2022: -$12,4362022Revenue 2023: $580,952Expenses 2023: $566,570Net Income 2023: $14,3822023Revenue 2024: $625,857Expenses 2024: $608,902Net Income 2024: $16,9552024Revenue 2025: $659,236Expenses 2025: $634,771Net Income 2025: $24,4652025

Highlighted filing

2014

Revenue$223,014
Expenses$231,077
Net Income-$8,063
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Aug 1, 2013 to Jul 31, 2014
Signed
Feb 9, 2015
Return Version
2013v4.0
Gross Receipts
$223,014
Mission and Program Overview

Mission

Assisting those who improve the quality of life for children of all ethnic and social backgrounds in memphis and the mid-south, and to spread the spirit of carnival throughout the community. Each year, different agencies are selected to receive monies raised by carnival and the grand krewes of carnival memphis at various fundraisers throughout the year.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$62,604$53,101▼ $9,503
Pledges and Grants Receivable$18,610$13,500▼ $5,110
Investments Other Securities$193$227▲ $34
Land, Buildings, and Equipment, Net$0$0→ $0
Total Assets$81,407$66,828▼ $14,579
Liabilities
Accounts Payable and Accrued Expenses$75,412$68,896▼ $6,516
Total Liabilities$75,412$68,896▼ $6,516
Net Assets / Fund Balance
Unrestricted Net Assets$5,995$-2,068▼ $8,063
Total Net Assets Fund Balance$5,995$-2,068▼ $8,063
Total Liabilities and Net Assets / Fund Balance$81,407$66,828▼ $14,579

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$0$4,513$4,513
Compensation and Service Providers
Top Officer Pay74th percentile

Board Members and Trustees

NameTitle
Duncan WilliamsPresident and Director
Patrick DanehyDirector
Patrick DemereDirector
Jason YarbroDirectory and Secretary
Ed GalfskyExecutive Director and Tre
Revenue and Support

Revenue Composition

Contributions and Grants
$109,430
Program Service Revenue
$113,514
Investment Income
$70
Other Revenue
$0
All Other Contributions
$109,430
Change in Net Assets
$-8,063

Audited Revenue Reconciliation

Revenue per Audited Statements
$223,014
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$223,014
Total Revenue per Form 990
$223,014
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$205,109
Salaries, Compensation, and Employee Benefits$25,968
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$20,413$2,268-$22,681
Other Expenses$44,581$9,910-$9,910
Occupancy-$8,007-$8,007
All Other Expenses-$4,937-$4,937
Fees for Services Accounting-$2,200-$2,200
Other Employee Benefits-$1,645-$1,645
Payroll Taxes-$1,642-$1,642
Insurance-$1,473-$1,473
Office Expenses-$1,279-$1,279
Total Functional Expenses$185,534$45,543$0$231,077

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$231,077
Total Expenses per Audited Statements$231,077
Total Expenses per Form 990$231,077
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
Yes
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, Part VI, Section B, Line 11

“The form 990 is reviewed by the executive director prior to being filed.”

Form 990, Part VI, Section B, Line 15A

“Compensation of the executive director is approved by the board of directors after comparison to similarly situated positions in other clubs and other non-profit organizations.”

Form 990, Part VI, Section C, Line 19

“Public inspection of forms 1023 and 990 is by appointment with the executive director at 4735 spottswood suite 103, memphis, tn 38117. Appointments can be arranged by calling 901-458-2500.”

Filing and Contact Details

Filer

EIN
58-1763512
Phone
9014582500

Signing Officer

Name
Ed Galfsky
Title
Executive Director
Phone
9014588866
Signed
2015-02-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ed Galfsky
Formed
1999
Legal Domicile
Tn
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
0

Preparer

Preparer
J Slater Smithers CPA
Phone
9016851040
Raw XML Appendix376 raw XML fields

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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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0211866
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0152200
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0180794
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0197933
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0965807
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/ScheduleBRequiredInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt04513
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt04513
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0231077
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0223014
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt0231077
IRS990ScheduleD/TotalRevenuePerForm990Amt0223014
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0223014
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0231077
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 IS REVIEWED BY THE EXECUTIVE DIRECTOR PRIOR TO BEING FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1COMPENSATION OF THE EXECUTIVE DIRECTOR IS APPROVED BY THE BOARD OF DIRECTORS AFTER COMPARISON TO SIMILARLY SITUATED POSITIONS IN OTHER CLUBS AND OTHER NON-PROFIT ORGANIZATIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2PUBLIC INSPECTION OF FORMS 1023 AND 990 IS BY APPOINTMENT WITH THE EXECUTIVE DIRECTOR AT 4735 SPOTTSWOOD SUITE 103, MEMPHIS, TN 38117. APPOINTMENTS CAN BE ARRANGED BY CALLING 901-458-2500.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0TN
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt081407
IRS990/TotalAssetsEOYAmt066828
IRS990/TotalAssetsGrp/BOYAmt081407
IRS990/TotalAssetsGrp/EOYAmt066828
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0109430
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt045543
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0185534
IRS990/TotalFunctionalExpensesGrp/TotalAmt0231077
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt075412
IRS990/TotalLiabilitiesEOYAmt068896
IRS990/TotalLiabilitiesGrp/BOYAmt075412
IRS990/TotalLiabilitiesGrp/EOYAmt068896
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt05995
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-2068
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0185534
IRS990/TotalProgramServiceRevenueAmt0113514
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt070
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0113514
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0223014
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt081407
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt066828
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationAssocInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt05995
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-2068
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine104735 SPOTTSWOOD AVE NO 103
IRS990/USAddress/City0MEMPHIS
IRS990/USAddress/State0TN
IRS990/USAddress/ZIPCode038117
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0ED GALFSKY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum09014588866
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-02-09
ReturnHeader/Filer/BusinessName/BusinessNameLine10CARNIVAL EDUCATIONAL FUND INC
ReturnHeader/Filer/BusinessNameControlTxt0CARN
ReturnHeader/Filer/EIN0581763512
ReturnHeader/Filer/PhoneNum09014582500
ReturnHeader/Filer/USAddress/AddressLine104735 SPOTTSWOOD AVE NO 103
ReturnHeader/Filer/USAddress/City0MEMPHIS
ReturnHeader/Filer/USAddress/State0TN
ReturnHeader/Filer/USAddress/ZIPCode038117
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0205556145
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10FRAZEE IVY DAVIS PLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine105100 POPLAR AVE STE 1400
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0MEMPHIS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0TN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode0381371499
ReturnHeader/PreparerPersonGrp/PhoneNum09016851040
ReturnHeader/PreparerPersonGrp/PreparationDt02015-02-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0J SLATER SMITHERS CPA
ReturnHeader/ReturnTs02015-03-16T15:06:34-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-08-01
ReturnHeader/TaxPeriodEndDt02014-07-31
ReturnHeader/TaxYr02013

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$66,828
Liabilities
$68,896
Net assets
-$2,068
Revenue
$223,014
Expenses
$231,077
Net income
-$8,063
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$0.38$0.11$0.27$0.66$0.63$0.02
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.41$0.17$0.25$0.63$0.61$0.02
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.34$0.11$0.23$0.58$0.57$0.01
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.31$0.10$0.22$1.00$1.01$0.01
2021Detailed filing. Detailed filing data is available for this year.$0.38$0.15$0.23$0.10$0.05$0.05
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.34$0.16$0.18$0.14$0.11$0.03
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.23$0.08$0.15$0.52$0.46$0.06
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.15$0.06$0.09$0.50$0.44$0.07
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.12$0.10$0.02$0.42$0.39$0.03
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.02$0.03$0.01$0.23$0.23$0.00
2015Detailed filing. Detailed filing data is available for this year.$0.06$0.06$0.01$0.22$0.23$0.00
2014Detailed filing. Detailed filing data is available for this year.$0.07$0.07$0.00$0.22$0.23$0.01
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.08$0.08$0.01$0.21
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.07$0.07$0.00$0.15$0.19$0.03
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.05$0.01$0.04$0.18$0.19$0.01
Peer Organizations

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