Civic Intelligence

South Florida Progress Foundation Inc.

990 • Fiscal year 2017 • EIN 59-6216592

Jul 01, 2016 to Jun 30, 2017 • Filed on May 15, 2018

1601 Biscayne Blvd Ballroom LevelMiami, FL 33132

(305) 350-7700

Siviq Scores

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

Liabilities / Assets

86th percentile

0.32x

Higher debt load relative to assets than 86% 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

23rd percentile

-10%

Higher net margin than 23% of similar nonprofits.

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

Top Officer Pay

99th percentile

$190,375

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 102.4% of source-year revenue.

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

Asset Growth

74th percentile

24%

Faster asset growth than 74% of similar nonprofits.

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

Revenue Growth

24th percentile

-20%

Faster revenue growth than 24% of similar nonprofits.

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

Assets

Up

$140,314

Up $26,867 (+24%) from 2016

Net Assets

Down

$94,823

Down $18,624 (-16%) from 2016

Liabilities

Up

$45,491

Up $45,491 from 2016

Revenue

Down

$185,844

Down $45,291 (-20%) from 2016

Expenses

Down

$204,468

Down $10,058 (-4.7%) from 2016

Net Income

Down

-$18,624

Down $35,233 (-212%) from 2016

Historical Trend

Balance Sheet Trend

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

$300K$200K$100K$0Assets 2011: $75,401Liabilities 2011: $0Net Assets 2011: $75,4012011Assets 2012: $124,370Liabilities 2012: $39,491Net Assets 2012: $84,8792012Assets 2013: $122,044Liabilities 2013: $2,500Net Assets 2013: $119,5442013Assets 2014: $113,267Liabilities 2014: $13,479Net Assets 2014: $99,7882014Assets 2015: $132,840Liabilities 2015: $36,002Net Assets 2015: $96,8382015Assets 2016: $113,447Liabilities 2016: $0Net Assets 2016: $113,4472016Assets 2017: $140,314Liabilities 2017: $45,491Net Assets 2017: $94,8232017Assets 2018: $94,579Liabilities 2018: $1,200Net Assets 2018: $93,3792018Assets 2019: $151,557Liabilities 2019: $76,381Net Assets 2019: $75,1762019Assets 2020: $146,138Liabilities 2020: $6,562Net Assets 2020: $139,5762020Assets 2021: $141,889Liabilities 2021: $26,188Net Assets 2021: $115,7012021Assets 2022: $186,609Liabilities 2022: $54,097Net Assets 2022: $132,5122022Assets 2023: $221,603Liabilities 2023: $63,813Net Assets 2023: $157,7902023Assets 2024: $157,537Liabilities 2024: $4,296Net Assets 2024: $153,2412024

Highlighted filing

2017

Assets$140,314
Liabilities$45,491
Net Assets$94,823

Operations Trend

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

$400K$300K$200K$100K$0-$100KExpenses 2011: $248,2842011Revenue 2012: $283,475Expenses 2012: $273,997Net Income 2012: $9,4782012Expenses 2013: $257,8712013Revenue 2014: $131,232Expenses 2014: $150,988Net Income 2014: -$19,7562014Revenue 2015: $185,932Expenses 2015: $188,882Net Income 2015: -$2,9502015Revenue 2016: $231,135Expenses 2016: $214,526Net Income 2016: $16,6092016Revenue 2017: $185,844Expenses 2017: $204,468Net Income 2017: -$18,6242017Revenue 2018: $221,749Expenses 2018: $223,193Net Income 2018: -$1,4442018Revenue 2019: $311,284Expenses 2019: $329,487Net Income 2019: -$18,2032019Revenue 2020: $146,872Expenses 2020: $82,472Net Income 2020: $64,4002020Revenue 2021: $161,861Expenses 2021: $185,736Net Income 2021: -$23,8752021Revenue 2022: $219,622Expenses 2022: $202,811Net Income 2022: $16,8112022Revenue 2023: $290,020Expenses 2023: $264,742Net Income 2023: $25,2782023Revenue 2024: $208,547Expenses 2024: $213,096Net Income 2024: -$4,5492024

Highlighted filing

2017

Revenue$185,844
Expenses$204,468
Net Income-$18,624
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
May 15, 2018
Return Version
2016v3.1
Gross Receipts
$185,844
Mission and Program Overview

Mission

The foundation works to leverage its relationship with south florida professionals and civic leaders to identify top issues, prioritize them through consensus and then develop and implement solutions through programmatic activity, all funded by member donations, endowments and grants. Through strategic partnerships with local organizations committed to the betterment of south florida, the effectiveness of and need for the foundation's various initiatives are reviewed and prioritized annually. These initiatives include: 1. South florida quality of life issues: o education o transportation o expansion and enhancement of cultural offerings o environmental issues o hurricane preparedness and recovery 2. Diversity issues 3. College scholarships for students interested in pursing careers in business, law or government

THE ORGANIZATION PROVIDES PROGRAMS TO promote the development of the GREATER MIAMI AREA, STRIVING TO PROMOTE ACTIVITIES TO FURTHER EMPLOYMENT & EDUCATION.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$109,280$132,099▲ $22,819
Accounts Receivable$0$5,381▲ $5,381
Land, Buildings, and Equipment, Net$4,167$2,500▼ $1,667
Prepaid Expenses and Deferred Charges$0$334▲ $334
Savings and Temporary Cash Investments$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$113,447$140,314▲ $26,867
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$0$41,491▲ $41,491
Deferred Revenue$0$4,000▲ $4,000
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$0$45,491▲ $45,491
Net Assets / Fund Balance
Unrestricted Net Assets$113,447$94,823▼ $18,624
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$113,447$94,823▼ $18,624
Total Liabilities and Net Assets / Fund Balance$113,447$140,314▲ $26,867

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$2,500$2,500$5,000
Compensation and Service Providers

Employees

NameTitleOtherTotal
Cornelia PereiraChief Operating Officer$105,302$105,302

Board Members and Trustees

NameTitle
Felipe BasultoChairman
Barry E JohnsonImmediate Past PRESIDENT
Carlos OrtaVice Chairman
Liane VenturaExecutive Director
Anne FreedmanMember
Arthur NoriegaMember
Ashaki Bronson-MarcellusMember
Kieth FletcherMember
William C Diaz-RousselotMember
Christie D GraysSecretary
Albert LopezTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$177,051
Program Service Revenue
$0
Investment Income
$12
Other Revenue
$8,781
All Other Contributions
$177,051
Change in Net Assets
$-18,624
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$163,343
Grants and Similar Amounts Paid$41,125
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$87,931--$87,931
Grants to Domestic Individuals$41,125--$41,125
Other Expenses$27,139--$27,139
Fees for Services Other$23,685--$23,685
Advertising$5,000--$5,000
Depreciation Depletion$1,667--$1,667
Insurance$167--$167
Total Functional Expenses$204,468$0$0$204,468
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
No
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 12C

The conflict of interest is signed off annually and enforced by ensuring the person does not participate in the decision making if there is a conflict of interest.

Form 990, Part VI, Section C, Line 19

Governing documents such as by laws are available in the organization's annual member handbook. Conflict of interest policy and financial statements are available to the public upon request.

Form 990, Part VI, Section A, Line 11

Form 990 is prepared by an independent accountant and submitted to the organization's controller for review. after the organization's controller is satisfied with the tax return, it is returned to the independent accountant for any final adjustments at which time the tax return is filed.

Filing and Contact Details

Filer

Filer Name
South Florida Progress Foundation Inc
EIN
59-6216592
In Care Of
% KARAN RUKRIGL
Phone
3053507700
Address
1601 Biscayne Blvd Ballroom Level, Miami, FL 33132

Signing Officer

Name
Felipe Basulto
Title
Chairman
Phone
3053507700
Signed
2018-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Liane Ventura
Formed
1968
Legal Domicile
Fl
Voting Board Members
11
Independent Board Members
11
Employees
4
Volunteers
11

Preparer

Firm
Berkowitz Pollack Brant Llp
Address
200 S BISCAYNE BLVD 7th FL, MIAMI, FL 33131
Preparer
Adam Cohen
Phone
3053797000
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 2C

The organization's finance committee has oversight over the audit performed by an independent accountant, who presents financial statements to the committee on pre and post audit basis. This process has not changed from the prior year.

Form 990 Part IX Line 11G

Description:professional fees total fees:23685

Form 990 Part IX Line 24 - Other Expenses

Description:miscellaneous total expenses:85755 program services:85755

Form 990 Part IX Line 24 - Other Expenses

Description:food & beverage total expenses:2176 program services:2176

Financial Statement Notes

Schedule D, Part X, Line 2

The Organization accounts for uncertainty in income taxes in accordance with GAAP, which requires recognition in the consolidated financial statements of a tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more likely than not threshold, the amount recognized in the consolidated financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. The Organization had no material unrecognized tax benefits and no adjustments to its consolidated financial position, activities or cash flows were required as of June 30, 2017 and 2016. The Organization does not expect that unrecognized tax benefits will increase within the next twelve months. The Organization's tax returns for the years ended June 30, 2014 through 2016 remain subject to examination by major tax jurisdictions. The Organization recognizes accrued interest and penalties, if any, related to uncertain tax positions as income tax expense.

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IRS990/MinutesOfCommitteesInd0true
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IRS990/MissionDesc0THE FOUNDATION WORKS TO LEVERAGE ITS RELATIONSHIP WITH SOUTH FLORIDA PROFESSIONALS AND CIVIC LEADERS TO IDENTIFY TOP ISSUES, PRIORITIZE THEM THROUGH CONSENSUS AND THEN DEVELOP AND IMPLEMENT SOLUTIONS THROUGH PROGRAMMATIC ACTIVITY, ALL FUNDED BY MEMBER DONATIONS, ENDOWMENTS AND GRANTS. THROUGH STRATEGIC PARTNERSHIPS WITH LOCAL ORGANIZATIONS COMMITTED TO THE BETTERMENT OF SOUTH FLORIDA, THE EFFECTIVENESS OF AND NEED FOR THE FOUNDATION'S VARIOUS INITIATIVES ARE REVIEWED AND PRIORITIZED ANNUALLY. THESE INITIATIVES INCLUDE: 1. SOUTH FLORIDA QUALITY OF LIFE ISSUES: O EDUCATION O TRANSPORTATION O EXPANSION AND ENHANCEMENT OF CULTURAL OFFERINGS O ENVIRONMENTAL ISSUES O HURRICANE PREPAREDNESS AND RECOVERY 2. DIVERSITY ISSUES 3. COLLEGE SCHOLARSHIPS FOR STUDENTS INTERESTED IN PURSING CAREERS IN BUSINESS, LAW OR GOVERNMENT
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IRS990/NetAssetsOrFundBalancesEOYAmt094823
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IRS990/OtherExpensesGrp/Desc1REGISTRATION FEE
IRS990/OtherExpensesGrp/Desc2BANK & CREDIT CARD FEE
IRS990/OtherExpensesGrp/Desc3SUPPLIES
IRS990/OtherExpensesGrp/ProgramServicesAmt013780
IRS990/OtherExpensesGrp/ProgramServicesAmt161
IRS990/OtherExpensesGrp/ProgramServicesAmt23913
IRS990/OtherExpensesGrp/ProgramServicesAmt327139
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IRS990/OtherExpensesGrp/TotalAmt161
IRS990/OtherExpensesGrp/TotalAmt23913
IRS990/OtherExpensesGrp/TotalAmt327139
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IRS990/OtherRevenueMiscGrp/BusinessCd0541900
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IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt08781
IRS990/OtherRevenueTotalAmt08781
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IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/TotalAmt00
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IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt00
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IRS990/PledgesAndGrantsReceivableGrp/BOYAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt00
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0334
IRS990/PrincipalOfficerNm0Liane Ventura
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgSrvcAccomActy2Grp/Desc0Telemundo Poder Fund - Recognizes and celebrates academic excellence, leadership skills and the pursuit of higher education. Five scholarships will be awarded to selected graduating seniors from a Miami-Dade County public high school planning to pursue a career in broadcast journalism, communications, electronic media, digital media or journalism at a South Florida college or university.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt023300
IRS990/ProgSrvcAccomActy3Grp/Desc0Workforce Housing Fund - The Mission of the Workforce Housing Fund is to enhance Miamis world class status by providing all residents the opportunity to obtain and sustain an equitable socio economic lifestyle by being able to sustainably afford a place to live. The goal is to increase the supply of affordable housing stock for the continuum of housing needed in Miami-Dade County from extremely low income households, low- to moderate-income households, seniors and young professional households (workforce housing).
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt020000
IRS990/ProgSrvcAccomActyOtherGrp/Desc0UNRESTRICTED FUND
IRS990/ProgSrvcAccomActyOtherGrp/Desc1JEANNE BELLAMY FUND
IRS990/ProgSrvcAccomActyOtherGrp/Desc2Youth Leadership Miami Fund
IRS990/ProgSrvcAccomActyOtherGrp/Desc3C. Arboleya
IRS990/ProgSrvcAccomActyOtherGrp/Desc4Defense Alliance
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IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt15000
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt215000
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt35000
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt417875
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYBenefitsPaidToMembersAmt00
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IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt08000
IRS990/PYInvestmentIncomeAmt011
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0206526
IRS990/PYOtherRevenueAmt01875
IRS990/PYProgramServiceRevenueAmt00
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IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0214526
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0231135
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0225044
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0180425
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0286080
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0951653
IRS990ScheduleA/TotalSupportAmt0951712
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IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990/ScheduleBRequiredInd0true

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.58$0.04$1.53$2.09$2.13$0.05
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.22$0.64$1.58$2.90$2.65$0.25
2022Detailed filing. Detailed filing data is available for this year.$1.87$0.54$1.33$2.20$2.03$0.17
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.42$0.26$1.16$1.62$1.86$0.24
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.46$0.07$1.40$1.47$0.82$0.64
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.52$0.76$0.75$3.11$3.29$0.18
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.95$0.01$0.93$2.22$2.23$0.01
2017Detailed filing. Detailed filing data is available for this year.$1.40$0.45$0.95$1.86$2.04$0.19
2016Detailed filing. Detailed filing data is available for this year.$1.13$0.00$1.13$2.31$2.15$0.17
2015Detailed filing. Detailed filing data is available for this year.$1.33$0.36$0.97$1.86$1.89$0.03
2014Detailed filing. Detailed filing data is available for this year.$1.13$0.13$1.00$1.31$1.51$0.20
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.22$0.03$1.20$2.58
2012Summary only. Only limited summary data is available for this year.$1.24$0.39$0.85$2.83$2.74$0.09
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.75$0.00$0.75$2.48