Civic Intelligence

Launchability Inc

990 • Fiscal year 2015 • EIN 75-1189353

Sep 01, 2014 to Aug 31, 2015 • Filed on Jul 15, 2016

801 East Plano ParkwayPlano, TX 75074

(972) 991-6777

Siviq Scores

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

Liabilities / Assets

82nd percentile

0.58x

Higher debt load relative to assets than 82% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

48th percentile

0.10x

Higher debt load relative to revenue than 48% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

66th percentile

9.0%

Higher net margin than 66% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2015

Asset Growth

3rd percentile

-31%

Faster asset growth than 3% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

1st percentile

-85%

Faster revenue growth than 1% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Assets

Down

$212,125

Down $93,221 (-31%) from 2014

Net Assets

Up

$88,372

Up $112,699 (+463%) from 2014

Liabilities

Down

$123,753

Down $205,920 (-62%) from 2014

Revenue

Down

$1,251,364

Down $7,165,518 (-85%) from 2014

Expenses

Down

$1,138,665

Down $8,468,756 (-88%) from 2014

Net Income

Up

$112,699

Up $1,303,238 (+109%) from 2014

Historical Trend

Balance Sheet Trend

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

$2.0M$1.0M$0-$1.0MAssets 2010: $1,247,232Liabilities 2010: $213,745Net Assets 2010: $1,033,4872010Assets 2011: $1,357,871Liabilities 2011: $410,219Net Assets 2011: $947,6522011Assets 2012: $1,970,940Liabilities 2012: $434,136Net Assets 2012: $1,536,8042012Assets 2013: $1,667,304Liabilities 2013: $501,092Net Assets 2013: $1,166,2122013Assets 2014: $305,346Liabilities 2014: $329,673Net Assets 2014: -$24,3272014Assets 2015: $212,125Liabilities 2015: $123,753Net Assets 2015: $88,3722015Assets 2016: $130,592Liabilities 2016: $21,358Net Assets 2016: $109,2342016Assets 2017: $59,094Liabilities 2017: $128,421Net Assets 2017: -$69,3272017

Highlighted filing

2015

Assets$212,125
Liabilities$123,753
Net Assets$88,372

Operations Trend

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

$10M$5.0M$0-$5.0MExpenses 2010: $3,820,3592010Revenue 2011: $4,071,890Expenses 2011: $4,155,801Net Income 2011: -$83,9112011Expenses 2012: $9,121,4012012Revenue 2013: $7,786,023Expenses 2013: $8,195,343Net Income 2013: -$409,3202013Revenue 2014: $8,416,882Expenses 2014: $9,607,421Net Income 2014: -$1,190,5392014Revenue 2015: $1,251,364Expenses 2015: $1,138,665Net Income 2015: $112,6992015Revenue 2016: $939,829Expenses 2016: $918,967Net Income 2016: $20,8622016Revenue 2017: $768,589Expenses 2017: $947,150Net Income 2017: -$178,5612017

Highlighted filing

2015

Revenue$1,251,364
Expenses$1,138,665
Net Income$112,699
Jump To
Filing Snapshot
Filing Period
Sep 1, 2014 to Aug 31, 2015
Signed
Jul 15, 2016
Return Version
2014v6.0
Gross Receipts
$1,424,309
Mission and Program Overview

Mission

We are committed to opening hearts and minds to what those with disabilities can do and highlight the previously unrecognized diverse abilities. By exemplifying these abilities we support growth in our community and focus the opportunities of our clients through careers that will ultimately lead to a greater level of confidence and independence.

Empower adults with disabilities to achieve their maximum potential and lead fulfilling lives within our community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$107,799$138,517▲ $30,718
Pledges and Grants Receivable$5,000$41,500▲ $36,500
Prepaid Expenses and Deferred Charges$28,566$0▼ $28,566
Land, Buildings, and Equipment, Net$21,440$13,048▼ $8,392
Accounts Receivable$122,636$12,762▼ $109,874
Savings and Temporary Cash Investments$14,911$911▼ $14,000
Total Assets$305,346$212,125▼ $93,221
Other Assets Total$4,994$5,387▲ $393
Liabilities
Unsecured Notes Loans Payable$128,355$82,477▼ $45,878
Accounts Payable and Accrued Expenses$196,832$24,975▼ $171,857
Deferred Revenue$0$14,880▲ $14,880
Other Liabilities$4,486$1,421▼ $3,065
Total Liabilities$329,673$123,753▼ $205,920
Net Assets / Fund Balance
Temporarily Rstr Net Assets$35,000$137,841▲ $102,841
Unrestricted Net Assets$-59,327$-49,469▲ $9,858
Total Net Assets Fund Balance$-24,327$88,372▲ $112,699
Total Liabilities and Net Assets / Fund Balance$305,346$212,125▼ $93,221

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$13,048$39,993$53,041
Other Land Buildings$0$3,592$3,592

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$35,000$210,120-$107,279$137,841
2014$286,259$35,000-$286,259$35,000
2013$225,168$75,000-$3,210$286,259
2012$0$225,168--$225,168
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kathryn ParsonsChief Executive OfficerFT$116,588$12,301$128,889
Makeba PotterChief Financial OfficerFT$93,325$6,067$99,392
Deborah MontonenChief Development OfficerFT$83,164$8,156$91,320

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$1,244,614
Program Service Revenue
$22,129
Investment Income
$-9,982
Other Revenue
$-5,397
All Other Contributions
$591,970
Change in Net Assets
$112,699

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,251,364
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$16,831
Total Revenue per Audited Statements
$1,268,195
Total Revenue per Form 990
$1,251,364
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$732,206
Other Expenses$406,459
Total Fundraising Expense$203,242
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$343,195$74,728$56,316$474,239
Current Officers, Directors, Trustees, and Key Employees$94,970$18,446$16,636$130,052
Occupancy$73,331$13,004$32,505$118,840
Information Technology$78,262$10,043$5,968$94,273
Other Employee Benefits$51,895$10,647$8,811$71,353
Fees for Services Other$23,247-$44,550$67,797
Payroll Taxes$41,560$3$11,081$52,644
Office Expenses$11,334$6,740$23,797$41,871
Fees for Services Accounting$5,144$20,915$1,928$27,987
Travel$17,833$12$228$18,073
Depreciation Depletion-$5,795-$5,795
Interest-$4,666-$4,666
Pension Plan Contributions$3,071$29$818$3,918
Other Expenses-$2,260-$2,260
Conferences and Meetings$468$197$604$1,269
Total Functional Expenses$744,310$191,113$203,242$1,138,665

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,155,496
Expenses per Audited Statements$1,138,665
Total Expenses per Form 990$1,138,665
Expenses Not Reported on Form 990$16,831
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$156,114
Fundraising Gross Income$141,294
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Evening Dinner$451,399$141,294$5,163$136,131
Total Events$451,399$141,294$156,114$-14,820
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Rent$1,421
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
Yes
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 11

The 990 is reviewed by the ceo, the accountant, and one member of the finance committee for accuracy and completeness before approving the return. The return is discussed with the finance committee and made available to the board at the next meeting. Also, the return is available for review upon request.

Form 990, Part VI, Section B, Line 12C

Employees and board members of launchability have an obligation to conduct business within guidelines that prohibit actual or potential conflicts of interest. This policy establishes the framework within which launchability wishes its business to operate. The purpose of these guidelines is to provide general direction so that employees and board members can seek further clarification on issues related to the subject of acceptable standards of operation. No "presumption of guilt" is created by the mere existance of a relationship with outside firms. However, it is imperative that employees and board members disclose any actual or potential conflicts of interest that could result from such relationships to an officer of the organization as soon as possible so that safeguards can be established to protect all parties.

Form 990, Part VI, Section B, Line 15

Launchability utilizes a formal appraisal system designed to focus on mutual goal setting by the supervisor and the employee to fit the needs of highly independent professionals. The annual performance review is followed up by regular and frequent check-ins with the supervisor and employee to adjust and assess progress toward goal attainment. Disciplinary actions would be handled in accordance with established laws and best practices. The launchability board hr committee oversees goal-setting and compensation which is tied to agency performance. Training is the responsibility of the supervisor. Performance objectives are established in advance of any evaluation, such that the employee and the evaluating supervisor should have a clear mutual understanding of what the employee is expected to do on the job.

Form 990, Part VI, Section C, Line 19

Public inspection of all governing documents, conflict of interest policy, and financial statements are available upon request during normal business hours.

Filing and Contact Details

Filer

Filer Name
Launchability Inc
EIN
75-1189353
Phone
9729916777
Address
801 EAST PLANO PARKWAY, PLANO, TX 75074

Signing Officer

Name
Kyle Liner
Title
Treasurer
Phone
9729916777
Signed
2016-07-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kyle Liner
Formed
1963
Legal Domicile
TX
Voting Board Members
40
Independent Board Members
40
Employees
153
Volunteers
65

Preparer

Firm
Salmon Sims Thomas & Associates Pllc
Address
12720 HILLCREST ROAD SUITE 500, DALLAS, TX 75230-2039
Preparer
William H Sims
Phone
9723921143
Supplemental Narrative

Financial Statement Notes

PART V, LINE 4:

Temporarily restricted net assets were held for the following purposes for current year end: 2016 special event $100,120 technology needs 12,721 future operations 25,000 total $137,841

PART X, LINE 2:

Management has concluded that any tax positions that would not meet the more-likely-than-not criterion of financial accounting standards board (fasb) accounting standards codification (asc) topic 740-10, accounting for income taxes, would be immaterial to the financial statements taken as a whole. Accordingly, the accompanying financial statements do not include any provision for uncertain tax positions, and no related interest or penalties have been recorded in the statement of activities or accrued in the statement of financial position. Federal and state tax returns of the entity are generally open to examination by the relevant taxing authorities for a period of three years from the date the returns are filed.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Loss on disposal ppe grouped with audit expenses on audit report ($16,831)

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Loss on disposal ppe grouped with audit expenses on audit report ($16,831)

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IRS990/Desc0OUR CAREER SERVICES FOR ADULTS WITH DISABILITIES INCLUDES OUR FLAGSHIP SUPPORTED EMPLOYMENT WHICH WAS ONE OF THE FIRST PROGRAMS IN TEXAS OVER 30 YEARS AGO TO TRAIN ADULTS WITH COGNITIVE DISABILITIES FOR MEANINGFUL JOBS AND MATCH THEM WITH COMPANIES NEEDING THEIR SKILLS. WE HELP ADULTS WITH INTELLECTUAL DISABILITIES, BRAIN INJURY AND OTHER COGNITIVE DISABILITIES BUILD INDEPENDENCE THROUGH MEANINGFUL EMPLOYMENT. IN ADDITION TO OUR ONE-ON-ONE SUPPORTED EMPLOYMENT SERVICES, WE ALSO HAVE PROVIDED SINCE 2010 AN INNOVATIVE SERVICE CALLED THE ACADEMY IN COLLABORATION WITH LARGE EMPLOYERS. THIS PRE-JOB TRAINING TEACHES BOTH ON-THE-JOB SKILLS AND CRITICAL LIFE SKILLS IN ORDER FOR THEM TO GAIN ACCESS TO CAREERS THEY OTHERWISE WOULD NOT BE CANDIDATES FOR IN COMPLEX, BUT GROWING INDUSTRIES. REGARDLESS OF WHETHER OUR CLIENTS UTILIZE SUPPORTED EMPLOYMENT OR ATTEND THE ACADEMY, WE PROVIDE ASSESSMENT OF CLIENT SKILLS AND INTERESTS, CAREER PLANNING, JOB PLACEMENT, AS WELL AS ONSITE TRAINING AND ONGOING ASSISTANCE AFTER THE PERSON IS ON THE JOB. LAUCHABILITY TRANSFORMS THE LIVES OF THESE ADULTS, HELPING TAX CONSUMERS BECOME TAXPAYERS AND INCLUDED MEMBERS OF OUR COMMUNITY. IN FY2015, THE PROGRAM SERVED OVER 180 ADULTS WITH COGNITIVE DISABILITIES. OUR SERVICE AREA INCLUDES DALLAS, COLLIN, AND DENTON COUNTIES.
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