Civic Intelligence

Carnival Educational Fund Inc.

990 • Fiscal year 2018 • EIN 58-1763512

Aug 01, 2017 to Jul 31, 2018 • Filed on Jun 10, 2019

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

81st percentile

0.38x

Higher debt load relative to assets than 81% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

68th percentile

0.11x

Higher debt load relative to revenue than 68% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Net Margin

70th percentile

14%

Higher net margin than 70% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

50th percentile

$0

Higher top officer pay than 50% of similar nonprofits.

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

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Asset Growth

79th percentile

21%

Faster asset growth than 79% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

72nd percentile

20%

Faster revenue growth than 72% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets81st percentile

Assets

Up

$150,814

Up $26,276 (+21%) from 2017

Net Assets

Up

$93,071

Up $68,700 (+282%) from 2017

Liabilities

Down

$57,743

Down $42,424 (-42%) from 2017

Revenue And Expenses
Liabilities / Revenue68th percentileNet Margin70th percentile

Revenue

Up

$503,823

Up $82,260 (+20%) from 2017

Expenses

Up

$435,131

Up $44,946 (+12%) from 2017

Net Income

Up

$68,692

Up $37,314 (+119%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth79th 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

2018

Assets$150,814
Liabilities$57,743
Net Assets$93,071
Open 2018 Filing

Operations Trend

Revenue Growth72nd 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

2018

Revenue$503,823
Expenses$435,131
Net Income$68,692
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Aug 1, 2017 to Jul 31, 2018
Signed
Jun 10, 2019
Return Version
2017v2.3
Gross Receipts
$503,823
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$81,034$108,752▲ $27,718
Pledges and Grants Receivable$43,250$41,800▼ $1,450
Investments Other Securities$254$262▲ $8
Land, Buildings, and Equipment, Net$0$0→ $0
Total Assets$124,538$150,814▲ $26,276
Liabilities
Accounts Payable and Accrued Expenses$100,167$57,743▼ $42,424
Total Liabilities$100,167$57,743▼ $42,424
Net Assets / Fund Balance
Unrestricted Net Assets$24,371$93,071▲ $68,700
Total Net Assets Fund Balance$24,371$93,071▲ $68,700
Total Liabilities and Net Assets / Fund Balance$124,538$150,814▲ $26,276

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$0$4,513$4,513
Compensation and Service Providers
Top Officer Pay50th 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
$203,761
Program Service Revenue
$300,033
Investment Income
$29
Other Revenue
$0
All Other Contributions
$203,761
Change in Net Assets
$68,692

Audited Revenue Reconciliation

Revenue per Audited Statements
$503,823
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$8
Total Revenue per Audited Statements
$503,831
Total Revenue per Form 990
$503,823
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$364,547
Salaries, Compensation, and Employee Benefits$70,584
Total Fundraising Expense$833
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$55,814$5,715-$61,529
Other Expenses$97,123$10,824-$10,824
All Other Expenses-$9,775$833$10,608
Occupancy-$7,237-$7,237
Other Employee Benefits-$4,617-$4,617
Payroll Taxes$3,999$439-$4,438
Office Expenses-$3,468-$3,468
Fees for Services Accounting-$3,000-$3,000
Insurance-$2,609-$2,609
Conferences and Meetings-$1,677-$1,677
Advertising-$334-$334
Total Functional Expenses$372,557$61,741$833$435,131

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$435,131
Total Expenses per Audited Statements$435,131
Total Expenses per Form 990$435,131
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
2019-06-10
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/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0503794
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0421534
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0226124
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0223610
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0222944
IRS990ScheduleA/Total509Grp/TotalAmt01598006
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0503823
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0421566
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0226130
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0223632
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0223014
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01598165
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt04513
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt04513
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0435131
IRS990ScheduleD/NetUnrealizedGainsInvstAmt08
IRS990ScheduleD/RevenueNotReportedAmt08
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0503823
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt0435131
IRS990ScheduleD/TotalRevenuePerForm990Amt0503823
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0503831
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0435131
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/TotalAssetsBOYAmt0124538
IRS990/TotalAssetsEOYAmt0150814
IRS990/TotalAssetsGrp/BOYAmt0124538
IRS990/TotalAssetsGrp/EOYAmt0150814
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0203761
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt0833
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt061741
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0372557
IRS990/TotalFunctionalExpensesGrp/TotalAmt0435131
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0100167
IRS990/TotalLiabilitiesEOYAmt057743
IRS990/TotalLiabilitiesGrp/BOYAmt0100167
IRS990/TotalLiabilitiesGrp/EOYAmt057743
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt024371
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt093071
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0372557
IRS990/TotalProgramServiceRevenueAmt0300033
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt029
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0300033
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0503823
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0124538
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0150814
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationAssocInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt024371
IRS990/UnrestrictedNetAssetsGrp/EOYAmt093071
IRS990/UponRequestInd0X
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IRS990/USAddress/CityNm0MEMPHIS
IRS990/USAddress/StateAbbreviationCd0TN
IRS990/USAddress/ZIPCd038117
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0ED GALFSKY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum09014588866
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-06-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CARNIVAL EDUCATIONAL FUND INC
ReturnHeader/Filer/BusinessNameControlTxt0CARN
ReturnHeader/Filer/EIN0581763512
ReturnHeader/Filer/PhoneNum09014582500
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ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId02B37A4D587C920731AFF5CD4EE606CFD4A58825F
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt075.151.198.241
ReturnHeader/FilingSecurityInformation/IPDt02019-06-10
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm011:39:33
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/PreparationDt02019-06-10
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0J SLATER SMITHERS CPA
ReturnHeader/ReturnTs02019-06-17T07:45:54-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-08-01
ReturnHeader/TaxPeriodEndDt02018-07-31
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$150,814
Liabilities
$57,743
Net assets
$93,071
Revenue
$503,823
Expenses
$435,131
Net income
$68,692
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
2018Detailed filing. Detailed filing data is available for this year.$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