Civic Intelligence

Lifta Society

990 • Fiscal year 2014 • EIN 75-2463021

Jan 01, 2014 to Dec 31, 2014 • Filed on Sep 23, 2015

701 Beltline RoadGarland, TX 75040

(214) 500-7912

Siviq Scores

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

Liabilities / Assets

29th percentile

0.00x

Higher debt load relative to assets than 29% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2014

Liabilities / Revenue

59th percentile

0.08x

Higher debt load relative to revenue than 59% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2014

Net Margin

2nd percentile

-132%

Higher net margin than 2% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2014

Top Officer Pay

47th percentile

$0

Higher top officer pay than 47% of similar nonprofits.

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

2014 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2014

Asset Growth

27th percentile

-4.1%

Faster asset growth than 27% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2013 to 2014

Revenue Growth

2nd percentile

-75%

Faster revenue growth than 2% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2013 to 2014

Assets

Down

$561,955

Down $24,080 (-4.1%) from 2013

Net Assets

Down

$560,455

Down $24,080 (-4.1%) from 2013

Liabilities

Flat

$1,500

Flat from 2013

Revenue

Down

$18,292

Down $56,133 (-75%) from 2013

Expenses

Up

$42,372

Up $7,932 (+23%) from 2013

Net Income

Down

-$24,080

Down $64,065 (-160%) from 2013

Historical Trend

Balance Sheet Trend

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

$800K$600K$400K$200K$0Assets 2010: $600,785Liabilities 2010: $0Net Assets 2010: $600,7852010Assets 2011: $586,833Liabilities 2011: $0Net Assets 2011: $586,8332011Assets 2012: $544,550Liabilities 2012: $0Net Assets 2012: $544,5502012Assets 2013: $586,035Liabilities 2013: $1,500Net Assets 2013: $584,5352013Assets 2014: $561,955Liabilities 2014: $1,500Net Assets 2014: $560,4552014Assets 2015: $576,621Liabilities 2015: $1,500Net Assets 2015: $575,1212015

Highlighted filing

2014

Assets$561,955
Liabilities$1,500
Net Assets$560,455

Operations Trend

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

$100K$50K$0-$50KExpenses 2010: $46,4202010Expenses 2011: $33,7472011Expenses 2012: $34,5372012Revenue 2013: $74,425Expenses 2013: $34,440Net Income 2013: $39,9852013Revenue 2014: $18,292Expenses 2014: $42,372Net Income 2014: -$24,0802014Revenue 2015: $60,193Expenses 2015: $45,527Net Income 2015: $14,6662015

Highlighted filing

2014

Revenue$18,292
Expenses$42,372
Net Income-$24,080
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Sep 23, 2015
Return Version
2014v5.0
Gross Receipts
$18,292
Mission and Program Overview

Mission

Lifta Societys mission is to promote a better understanding and commitment of the societys religious faith to its members and the community by setting up public activities, to cultivate relationships between its members and the society, and to improve the religious and spiritual standards by providing help, education, and fellowship.

To promote a better understanding and commitment of the society's religious faith. To cultivate relationships between its members and the society's religious faith.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$516,563$534,105▲ $17,542
Cash and Non-Interest-Bearing Accounts$69,472$27,850▼ $41,622
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$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
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$586,035$561,955▼ $24,080
Other Assets Total$0$0→ $0
Liabilities
Deferred Revenue$1,500$1,500→ $0
Accounts Payable and Accrued Expenses$0$0→ $0
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$1,500$1,500→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$584,535$560,455▼ $24,080
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$584,535$560,455▼ $24,080
Total Liabilities and Net Assets / Fund Balance$586,035$561,955▼ $24,080

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$493,702$72,605$566,307
Other Land Buildings$35,500$13,423$48,923
Land$4,903-$4,903
Compensation and Service Providers

Board Members and Trustees

NameTitle
Amer AbusaadPresident
Ali HamidehVice President
Kamal IsmailMember at Large
Ibrahim IsmailSecretary
Naser AbusaadTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$7,492
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$10,800
All Other Contributions
$7,492
Change in Net Assets
$-24,080
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$42,372
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$16,797$4,199-$20,996
Depreciation Depletion$13,167$3,292-$16,459
Office Expenses$2,236$521-$2,757
Fees for Services Accounting-$2,160-$2,160
Total Functional Expenses$32,200$10,172$0$42,372
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
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
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
Yes
Management duties delegated
No

Governance Explanations

FORM 990, PART VI, SECTION A, LINE 2: Board Relationships-

Name of officer, director, etc.: amer abusaad name of related director: naser abusaad title or role: president relationship: family relationship

Form 990, Part VI, Section A, Line 6 & 7

Members - the organization has voting and non-voting members based upon payment of annual dues. A simple majority quorum of eligible voting members is required for any passage of decision made by the governing body.

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

REVIEW PROCESS - The Board of Directors authorize and enable the Treasurer to obtain professional Independent Certified Public Accountant(s) to complete, prepare, and deliver an IRS Form 990 for the society annually or as required by law. Once the draft Form 990 is complete, the Treasurer distributes a copy of the Form 990 to all Board Members via e-mail or hard copy. Within seven calendar days, each Board Member provides any comment(s) in writing to the Treasurer so that he/she may resolve with the Certified Public Accountant(s).

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

CONFLICT OF INTEREST POLICY - At annual meetings of the organization, the conflict of interest policy is read out loud and reviewed. At regular board meetings, any conflicts are disclosed/discussed as a group, and reviewed in relation to the policy.

Form 990, Part VI, Section B, Line 15A & Line 15B

Compensation determination - the organization does not currently have compensated officers.

Form 990, Part VI, Section C, Line 19

Public inspection policy - documents are made available for viewing at the society's office upon consultation with the board of directors and if required by law. All policies and financial transactions are openly discussed during monthly meetings.

Filing and Contact Details

Filer

Filer Name
Lifta Society Inc
EIN
75-2463021
In Care Of
% NASER ABUSAAD- TREASURER
Phone
2145007912
Address
701 BELTLINE ROAD, GARLAND, TX 75040

Signing Officer

Name
Naser Abusaad
Title
Treasurer
Phone
2145007912
Signed
2015-09-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Amer Abusaad
Formed
1993
Legal Domicile
TX
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
30

Preparer

Firm
Salmon Sims Thomas & Assoc Pllc
Address
12720 HILLCREST RD SUITE 500, DALLAS, TX 75230
Preparer
William H Sims
Phone
9723921143
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4D

Additional program services- other services provided by lifta society include regular monthly meetings, religious studies for women, and religious studies for children, as well as holding a reception for 2014 graduates and their families to further increase cohesiveness within the community.

Raw XML Appendix397 raw XML fields

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/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt011795
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt014469
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt046756
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt09000
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt05710
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt06650
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt08000
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt010200
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt039560
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt05952
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt01800
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt0753
IRS990ScheduleA/OtherIncome170Grp/TotalAmt02553
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.52612
IRS990ScheduleA/PublicSupportPY170Pct00.56731
IRS990ScheduleA/PublicSupportTotal170Amt046756
IRS990ScheduleA/SubstantialContributorsTotAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt07492
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt05590
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt07410
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt011795
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt014469
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt046756
IRS990ScheduleA/TotalSupportAmt088869
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0493702
IRS990ScheduleD/BuildingsGrp/DepreciationAmt072605
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0566307
IRS990ScheduleD/LandGrp/BookValueAmt04903
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt04903
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt035500
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt013423
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt048923
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0534105
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ADDITIONAL PROGRAM SERVICES- OTHER SERVICES PROVIDED BY LIFTA SOCIETY INCLUDE REGULAR MONTHLY MEETINGS, RELIGIOUS STUDIES FOR WOMEN, AND RELIGIOUS STUDIES FOR CHILDREN, AS WELL AS HOLDING A RECEPTION FOR 2014 GRADUATES AND THEIR FAMILIES TO FURTHER INCREASE COHESIVENESS WITHIN THE COMMUNITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NAME OF OFFICER, DIRECTOR, ETC.: AMER ABUSAAD NAME OF RELATED DIRECTOR: NASER ABUSAAD TITLE OR ROLE: PRESIDENT RELATIONSHIP: FAMILY RELATIONSHIP
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MEMBERS - THE ORGANIZATION HAS VOTING AND NON-VOTING MEMBERS BASED UPON PAYMENT OF ANNUAL DUES. A SIMPLE MAJORITY QUORUM OF ELIGIBLE VOTING MEMBERS IS REQUIRED FOR ANY PASSAGE OF DECISION MADE BY THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3REVIEW PROCESS - The Board of Directors authorize and enable the Treasurer to obtain professional Independent Certified Public Accountant(s) to complete, prepare, and deliver an IRS Form 990 for the society annually or as required by law. Once the draft Form 990 is complete, the Treasurer distributes a copy of the Form 990 to all Board Members via e-mail or hard copy. Within seven calendar days, each Board Member provides any comment(s) in writing to the Treasurer so that he/she may resolve with the Certified Public Accountant(s).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CONFLICT OF INTEREST POLICY - At annual meetings of the organization, the conflict of interest policy is read out loud and reviewed. At regular board meetings, any conflicts are disclosed/discussed as a group, and reviewed in relation to the policy.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5COMPENSATION DETERMINATION - THE ORGANIZATION DOES NOT CURRENTLY HAVE COMPENSATED OFFICERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6PUBLIC INSPECTION POLICY - DOCUMENTS ARE MADE AVAILABLE FOR VIEWING AT THE SOCIETY'S OFFICE UPON CONSULTATION WITH THE BOARD OF DIRECTORS AND IF REQUIRED BY LAW. ALL POLICIES AND FINANCIAL TRANSACTIONS ARE OPENLY DISCUSSED DURING MONTHLY MEETINGS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 2: Board Relationships-
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 6 & 7
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 15A & LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondLiabilitiesGrp/BOYAmt00
IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt00
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt00
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt00
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0586035
IRS990/TotalAssetsEOYAmt0561955
IRS990/TotalAssetsGrp/BOYAmt0586035
IRS990/TotalAssetsGrp/EOYAmt0561955
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt07492
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt010172
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt032200
IRS990/TotalFunctionalExpensesGrp/TotalAmt042372
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01500
IRS990/TotalLiabilitiesEOYAmt01500
IRS990/TotalLiabilitiesGrp/BOYAmt01500
IRS990/TotalLiabilitiesGrp/EOYAmt01500
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0584535
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0560455
IRS990/TotalOtherProgSrvcExpenseAmt0152
IRS990/TotalProgramServiceExpensesAmt032200
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalRevenueGrp/ExclusionAmt010800
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt018292
IRS990/TotalVolunteersCnt030
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0586035
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0561955
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0584535
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0560455
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt00
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0701 BELTLINE ROAD
IRS990/USAddress/CityNm0GARLAND
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd075040
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02016-03-07 17:11:31Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0NASER ABUSAAD
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum02145007912
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-09-23
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LIFTA SOCIETY INC
ReturnHeader/Filer/BusinessNameControlTxt0LIFT
ReturnHeader/Filer/EIN0752463021
ReturnHeader/Filer/InCareOfNm0% NASER ABUSAAD- TREASURER
ReturnHeader/Filer/PhoneNum02145007912
ReturnHeader/Filer/USAddress/AddressLine1Txt0701 BELTLINE ROAD
ReturnHeader/Filer/USAddress/CityNm0GARLAND
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd075040
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SALMON SIMS THOMAS & ASSOC PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt012720 HILLCREST RD SUITE 500
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0DALLAS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd075230
ReturnHeader/PreparerPersonGrp/PhoneNum09723921143
ReturnHeader/PreparerPersonGrp/PreparationDt02015-09-24
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0WILLIAM H SIMS
ReturnHeader/ReturnTs02015-09-28T08:48:43-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-01-01
ReturnHeader/TaxPeriodEndDt02014-12-31
ReturnHeader/TaxYr02014

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