Civic Intelligence

Carnival Educational Fund Inc.

990 • Fiscal year 2017 • EIN 58-1763512

Aug 01, 2016 to Jul 31, 2017 • Filed on May 23, 2018

Organization ProfileN/A
4735 Spottswood Ave No 103Memphis, TN 38117

(901) 458-2500

Siviq Scores

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

Liabilities / Assets

93rd percentile

0.80x

Higher debt load relative to assets than 93% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Liabilities / Revenue

88th percentile

0.24x

Higher debt load relative to revenue than 88% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Net Margin

59th percentile

7.4%

Higher net margin than 59% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

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.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Asset Growth

97th percentile

417%

Faster asset growth than 97% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Revenue Growth

91st percentile

86%

Faster revenue growth than 91% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Up

$124,538

Up $100,471 (+417%) from 2016

Net Assets

Up

$24,371

Up $31,378 (+448%) from 2016

Liabilities

Up

$100,167

Up $69,093 (+222%) from 2016

Revenue And Expenses
Liabilities / Revenue88th percentileNet Margin59th percentile

Revenue

Up

$421,563

Up $195,433 (+86%) from 2016

Expenses

Up

$390,185

Up $162,924 (+72%) from 2016

Net Income

Up

$31,378

Up $32,509 (+2874%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth97th 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

2017

Assets$124,538
Liabilities$100,167
Net Assets$24,371
Open 2017 Filing

Operations Trend

Revenue Growth91st 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

2017

Revenue$421,563
Expenses$390,185
Net Income$31,378
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Aug 1, 2016 to Jul 31, 2017
Signed
May 23, 2018
Return Version
2016v3.0
Gross Receipts
$421,563
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$11,332$81,034▲ $69,702
Pledges and Grants Receivable$12,500$43,250▲ $30,750
Investments Other Securities$235$254▲ $19
Land, Buildings, and Equipment, Net$0$0→ $0
Total Assets$24,067$124,538▲ $100,471
Liabilities
Accounts Payable and Accrued Expenses$31,074$100,167▲ $69,093
Total Liabilities$31,074$100,167▲ $69,093
Net Assets / Fund Balance
Unrestricted Net Assets$-7,007$24,371▲ $31,378
Total Net Assets Fund Balance$-7,007$24,371▲ $31,378
Total Liabilities and Net Assets / Fund Balance$24,067$124,538▲ $100,471

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$0$4,513$4,513
Compensation and Service Providers
Top Officer Pay76th percentile

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$151,876
Program Service Revenue
$269,655
Investment Income
$32
Other Revenue
$0
All Other Contributions
$151,876
Change in Net Assets
$31,378

Audited Revenue Reconciliation

Revenue per Audited Statements
$421,563
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$421,563
Total Revenue per Form 990
$421,563
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$334,980
Salaries, Compensation, and Employee Benefits$55,205
Total Fundraising Expense$688
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$43,487$4,832-$48,319
Occupancy-$6,249-$6,249
Insurance-$4,354-$4,354
Other Employee Benefits-$3,451-$3,451
Payroll Taxes$3,091$344-$3,435
Office Expenses-$2,734-$2,734
Fees for Services Accounting-$2,700-$2,700
All Other Expenses-$1,805$688$2,493
Other Expenses$94,475$1,400-$1,400
Total Functional Expenses$343,072$46,425$688$390,185

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$390,185
Total Expenses per Audited Statements$390,185
Total Expenses per Form 990$390,185
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“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

Filer Name
Carnival Educational Fund Inc
EIN
58-1763512
Phone
9014582500
Address
4735 SPOTTSWOOD AVE NO 103, MEMPHIS, TN 38117

Signing Officer

Name
Ed Galfsky
Title
Executive Director
Phone
9014588866
Signed
2018-05-23
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

Firm
Frazee Ivy Davis Plc
Address
5100 POPLAR AVE STE 1400, MEMPHIS, TN 38137-1499
Preparer
J Slater Smithers CPA
Phone
9016851040
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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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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0211789
IRS990ScheduleA/Total509Grp/TotalAmt01306001
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0421566
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0226130
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0223632
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0223014
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0211866
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01306208
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/ExpensesSubtotalAmt0390185
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0421563
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt0390185
IRS990ScheduleD/TotalRevenuePerForm990Amt0421563
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0421563
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0390185
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 11B
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/TotalAssetsBOYAmt024067
IRS990/TotalAssetsEOYAmt0124538
IRS990/TotalAssetsGrp/BOYAmt024067
IRS990/TotalAssetsGrp/EOYAmt0124538
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0151876
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt0688
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt046425
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0343072
IRS990/TotalFunctionalExpensesGrp/TotalAmt0390185
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt031074
IRS990/TotalLiabilitiesEOYAmt0100167
IRS990/TotalLiabilitiesGrp/BOYAmt031074
IRS990/TotalLiabilitiesGrp/EOYAmt0100167
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-7007
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt024371
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0343072
IRS990/TotalProgramServiceRevenueAmt0269655
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt032
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0269655
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0421563
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt024067
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0124538
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationAssocInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-7007
IRS990/UnrestrictedNetAssetsGrp/EOYAmt024371
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt04735 SPOTTSWOOD AVE NO 103
IRS990/USAddress/CityNm0MEMPHIS
IRS990/USAddress/StateAbbreviationCd0TN
IRS990/USAddress/ZIPCd038117
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0ED GALFSKY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum09014588866
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-05-23
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CARNIVAL EDUCATIONAL FUND INC
ReturnHeader/Filer/BusinessNameControlTxt0CARN
ReturnHeader/Filer/EIN0581763512
ReturnHeader/Filer/PhoneNum09014582500
ReturnHeader/Filer/USAddress/AddressLine1Txt04735 SPOTTSWOOD AVE NO 103
ReturnHeader/Filer/USAddress/CityNm0MEMPHIS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TN
ReturnHeader/Filer/USAddress/ZIPCd038117
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId015610FE16EFB45614730F43D0AB2D161CB6ED9DF
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId05F44D55515DD3A4FC79292D7F3C256FD1B62F71A
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0216.37.67.242
ReturnHeader/FilingSecurityInformation/IPDt02018-05-23
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm014:35:15
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0205556145
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0FRAZEE IVY DAVIS PLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt05100 POPLAR AVE STE 1400
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MEMPHIS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0381371499
ReturnHeader/PreparerPersonGrp/PhoneNum09016851040
ReturnHeader/PreparerPersonGrp/PreparationDt02018-05-21
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0J SLATER SMITHERS CPA
ReturnHeader/ReturnTs02018-05-23T14:38:47-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-08-01
ReturnHeader/TaxPeriodEndDt02017-07-31
ReturnHeader/TaxYr02016

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$124,538
Liabilities
$100,167
Net assets
$24,371
Revenue
$421,563
Expenses
$390,185
Net income
$31,378
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
2017Detailed filing. Detailed filing data is available for this year.$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