Civic Intelligence

Carnival Educational Fund Inc.

990 • Fiscal year 2019 • EIN 58-1763512

Aug 01, 2018 to Jul 31, 2019 • Filed on Apr 24, 2020

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

0.35x

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

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

73rd percentile

0.16x

Higher debt load relative to revenue than 73% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Net Margin

66th percentile

11%

Higher net margin than 66% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

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.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Asset Growth

89th percentile

56%

Faster asset growth than 89% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Revenue Growth

49th percentile

3.8%

Faster revenue growth than 49% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets81st percentile

Assets

Up

$234,707

Up $83,893 (+56%) from 2018

Net Assets

Up

$152,948

Up $59,877 (+64%) from 2018

Liabilities

Up

$81,759

Up $24,016 (+42%) from 2018

Revenue And Expenses
Liabilities / Revenue73rd percentileNet Margin66th percentile

Revenue

Up

$522,788

Up $18,965 (+3.8%) from 2018

Expenses

Up

$462,981

Up $27,850 (+6.4%) from 2018

Net Income

Down

$59,807

Down $8,885 (-13%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth89th 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

2019

Assets$234,707
Liabilities$81,759
Net Assets$152,948
Open 2019 Filing

Operations Trend

Revenue Growth49th 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

2019

Revenue$522,788
Expenses$462,981
Net Income$59,807
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Aug 1, 2018 to Jul 31, 2019
Signed
Apr 24, 2020
Return Version
2018v3.1
Gross Receipts
$522,788
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$108,752$202,621▲ $93,869
Pledges and Grants Receivable$41,800$25,950▼ $15,850
Land, Buildings, and Equipment, Net$0$5,804▲ $5,804
Investments Other Securities$262$332▲ $70
Total Assets$150,814$234,707▲ $83,893
Liabilities
Accounts Payable and Accrued Expenses$57,743$81,759▲ $24,016
Total Liabilities$57,743$81,759▲ $24,016
Net Assets / Fund Balance
Unrestricted Net Assets$93,071$152,948▲ $59,877
Total Net Assets Fund Balance$93,071$152,948▲ $59,877
Total Liabilities and Net Assets / Fund Balance$150,814$234,707▲ $83,893

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$5,804$696$6,500
Equipment$0$4,513$4,513
Compensation and Service Providers
Top Officer Pay50th percentile

Board Members and Trustees

NameTitle
Ginger CollierChairman
Thomas HusseyPresident and Director
Curt GriffinDirector
Hugh MalloryDirector
Jeff ColeDirector
Katherine DobbsDirector
Chris TutorDirector and Secretary
Ed GalfskyExecutive Director and Tre
Revenue and Support

Revenue Composition

Contributions and Grants
$216,253
Program Service Revenue
$306,290
Investment Income
$245
Other Revenue
$0
All Other Contributions
$216,253
Change in Net Assets
$59,807

Audited Revenue Reconciliation

Revenue per Audited Statements
$522,788
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$70
Total Revenue per Audited Statements
$522,858
Total Revenue per Form 990
$522,788
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$391,765
Salaries, Compensation, and Employee Benefits$71,216
Total Fundraising Expense$1,027
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$56,105$5,954-$62,059
Occupancy-$6,950-$6,950
Payroll Taxes$4,209$452-$4,661
Other Employee Benefits-$4,496-$4,496
Office Expenses-$4,193-$4,193
Fees for Services Accounting-$3,000-$3,000
All Other Expenses-$1,104$1,027$2,131
Other Expenses$96,879$1,188-$1,188
Depreciation Depletion-$696-$696
Total Functional Expenses$403,670$58,284$1,027$462,981

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$462,981
Total Expenses per Audited Statements$462,981
Total Expenses per Form 990$462,981
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
2020-04-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ed Galfsky
Formed
1999
Legal Domicile
Tn
Voting Board Members
8
Independent Board Members
8
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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IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt0334
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0306290
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0300033
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0269655
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt099585
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0109533
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt0245
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt029
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt032
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt06
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt022
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0334
IRS990ScheduleA/InvestmentIncomeCYPct00.00020
IRS990ScheduleA/InvestmentIncomePYPct00.00010
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99980
IRS990ScheduleA/PublicSupportPY509Pct00.99990
IRS990ScheduleA/PublicSupportTotal509Amt01897605
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0503794
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0421534
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0226124
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0223610
IRS990ScheduleA/Total509Grp/TotalAmt01897605
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0522788
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0503823
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0226130
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0223632
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01897939
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt04513
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt04513
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0462981
IRS990ScheduleD/NetUnrealizedGainsInvstAmt070
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt05804
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0696
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt06500
IRS990ScheduleD/RevenueNotReportedAmt070
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0522788
IRS990ScheduleD/TotalBookValueLandBuildingsAmt05804
IRS990ScheduleD/TotalExpensesPerForm990Amt0462981
IRS990ScheduleD/TotalRevenuePerForm990Amt0522788
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0522858
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0462981
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
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IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
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IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsEOYAmt0234707
IRS990/TotalAssetsGrp/BOYAmt0150814
IRS990/TotalAssetsGrp/EOYAmt0234707
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0216253
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt01027
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt058284
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0403670
IRS990/TotalFunctionalExpensesGrp/TotalAmt0462981
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt057743
IRS990/TotalLiabilitiesEOYAmt081759
IRS990/TotalLiabilitiesGrp/BOYAmt057743
IRS990/TotalLiabilitiesGrp/EOYAmt081759
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt093071
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IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0403670
IRS990/TotalProgramServiceRevenueAmt0306290
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IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0306290
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IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
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Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$234,707
Liabilities
$81,759
Net assets
$152,948
Revenue
$522,788
Expenses
$462,981
Net income
$59,807
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
2019Detailed filing. Detailed filing data is available for this year.$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