Civic Intelligence

Cola Resources Inc

990 • Fiscal year 2020 • EIN 80-0875539

Jul 01, 2019 to Jun 30, 2020 • Filed on Nov 18, 2020

Organization Profilewww.CRIEDU.ORG
11101 Resort Road Suite 224Ellicott City, MD 21042

(877) 234-8193

Siviq Scores

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

Liabilities / Assets

93rd percentile

0.97x

Higher debt load relative to assets than 93% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

84th percentile

0.53x

Higher debt load relative to revenue than 84% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Net Margin

15th percentile

-24%

Higher net margin than 15% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

96th percentile

$218,311

Higher top officer pay than 96% of similar nonprofits.

Top officer pay equals 31.8% of source-year revenue.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Asset Growth

1st percentile

-69%

Faster asset growth than 1% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

16th percentile

-37%

Faster revenue growth than 16% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Down

$373,083

Down $817,965 (-69%) from 2019

Net Assets

Down

$10,457

Down $57,377 (-85%) from 2019

Liabilities

Down

$362,626

Down $760,588 (-68%) from 2019

Revenue And Expenses
Liabilities / Revenue84th percentileNet Margin15th percentile

Revenue

Down

$687,437

Down $396,574 (-37%) from 2019

Expenses

Down

$849,562

Down $483,684 (-36%) from 2019

Net Income

Up

-$162,125

Up $87,110 (+35%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth1st percentile

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

$1.5M$1.0M$500K$0-$500KAssets 2014: $356,576Liabilities 2014: $420,721Net Assets 2014: -$64,1452014Assets 2015: $208,320Liabilities 2015: $234,133Net Assets 2015: -$25,8132015Assets 2016: $278,912Liabilities 2016: $209,288Net Assets 2016: $69,6242016Assets 2017: $637,812Liabilities 2017: $426,545Net Assets 2017: $211,2672017Assets 2018: $1,061,896Liabilities 2018: $744,827Net Assets 2018: $317,0692018Assets 2019: $1,191,048Liabilities 2019: $1,123,214Net Assets 2019: $67,8342019Assets 2020: $373,083Liabilities 2020: $362,626Net Assets 2020: $10,4572020Assets 2021: $297,603Liabilities 2021: $491,682Net Assets 2021: -$194,0792021Assets 2022: $0Liabilities 2022: $0Net Assets 2022: $02022

Highlighted filing

2020

Assets$373,083
Liabilities$362,626
Net Assets$10,457
Open 2020 Filing

Operations Trend

Revenue Growth16th percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2014: $912,731Expenses 2014: $958,430Net Income 2014: -$45,6992014Revenue 2015: $872,937Expenses 2015: $834,605Net Income 2015: $38,3322015Revenue 2016: $1,158,257Expenses 2016: $1,062,820Net Income 2016: $95,4372016Revenue 2017: $1,289,531Expenses 2017: $1,147,888Net Income 2017: $141,6432017Revenue 2018: $1,319,161Expenses 2018: $1,213,359Net Income 2018: $105,8022018Revenue 2019: $1,084,011Expenses 2019: $1,333,246Net Income 2019: -$249,2352019Revenue 2020: $687,437Expenses 2020: $849,562Net Income 2020: -$162,1252020Revenue 2021: $534,657Expenses 2021: $752,179Net Income 2021: -$217,5222021Revenue 2022: $171,180Expenses 2022: $393,513Net Income 2022: -$222,3332022

Highlighted filing

2020

Revenue$687,437
Expenses$849,562
Net Income-$162,125
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Nov 18, 2020
Return Version
2019v5.1
Gross Receipts
$687,437
Mission and Program Overview

Mission

To provide educational and consulting services to improve laboratory medicine and patient care.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts-$161,629-
Land, Buildings, and Equipment, Net-$69,620-
Accounts Receivable$852$14,725▲ $13,873
Intangible Assets$3,700--
Prepaid Expenses and Deferred Charges$943$1,500▲ $557
Total Assets$1,191,048$373,083▼ $817,965
Other Assets Total$1,185,553$125,609▼ $1,059,944
Liabilities
Other Liabilities$899,252$240,721▼ $658,531
Unsecured Notes Loans Payable-$114,072-
Deferred Revenue$39,995--
Accounts Payable and Accrued Expenses$183,967$7,833▼ $176,134
Total Liabilities$1,123,214$362,626▼ $760,588
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$67,834$10,457▼ $57,377
Total Net Assets Fund Balance$67,834$10,457▼ $57,377
Total Liabilities and Net Assets / Fund Balance$1,191,048$373,083▼ $817,965

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$65,862$41,888-
Equipment$3,758--
Other Assets Org$125,609--
Compensation and Service Providers
Top Officer Pay96th percentile

Employees

NameTitleFull / Part TimeBaseTotal
James E LigginsChair Director CEOFT$218,311$218,311

Board Members and Trustees

NameTitle
Barry CraigDirector
Jeanne MumfordDirector
Nancy CalderDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$687,437
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-162,125
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$632,873
Other Expenses$216,689
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$277,384$14,599-$291,983
Current Officers, Directors, Trustees, and Key Employees$207,395$10,916-$218,311
Other Employee Benefits$63,380$3,336-$66,716
Information Technology$61,804$3,253-$65,057
Fees for Services Management$35,625$1,875-$37,500
Payroll Taxes$34,589$1,820-$36,409
Occupancy$25,673$1,351-$27,024
Fees for Services Accounting$23,246$1,223-$24,469
Office Expenses$19,014$1,001-$20,015
Pension Plan Contributions$18,482$972-$19,454
Other Expenses$11,915$627-$12,542
Travel$4,209$222-$4,431
Fees for Services Other$2,755$145-$2,900
Insurance$1,425$75-$1,500
Royalties$1,391$73-$1,464
Advertising$1,197$63-$1,260
Conferences and Meetings$665$35-$700
Depreciation Depletion$416$22-$438
Interest$175$9-$184
Total Functional Expenses$807,086$42,476$0$849,562
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Symposium Facility Guarantee$125,609
Accrued Liabilities$112,909
Accrued Payroll Liabilities$2,203
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
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 governing body review Part VI line 11

“This return has been provided to the Board of Directors for review and comment prior to filing.”

Conflict of interest policy compliance Part VI line 12C

“Each member of the Cola Resouces Inc.s (CRIs) Board of Directors has a legal and fiduciary responsibility, while acting in the capacity of a CRI Director, to make decisions exclusively based upon what the Director belives is in the best interest of CRI. No Director should vote or take a position on any issue before the Board based upon his or her personal interests or the interests of another organization. If a Director believes that there may be a conflict affecting his or her ability to act in the best interests of CRI, that issue should be disclosaed to the Board, and the Director should recuse him or her self pending review and resolution by the Board in accordance with CRIs Conflict of Interest protocol.”

CEO executive director top management comp Part VI line 15A

“A Compensation Committee Of Cola Resources Inc,s Board of Directors composed entirely of individuals with no Conflicts of Interest as defined under IRS rules deterimines the CEOs compensation.”

Governing documents etc available to public Part VI line 19

“Cola Resources Inc. makes its governing documents, Conflict of Interest Policy and financial Statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
COLA Resources Inc
EIN
80-0875539
Address
11101 Resort Road Suite 224, Ellicott City, MD 21042

Signing Officer

Name
James E Liggins
Title
Chief Executive
Phone
8772348193
Signed
2020-11-18
Discuss with paid preparer
No

Organization Details

Principal Officer
James E Liggins
Formed
2012
Legal Domicile
Md
Voting Board Members
4
Independent Board Members
3
Employees
7

Preparer

Firm
Alfred J Discepolo CPA PLLC
Address
4401 Charles City Road, Henrico, VA 23231
Preparer
Alfred J Discepolo CPA
Phone
4102077627
Supplemental Narrative

Additional Explanations

Explanation of other changes in net assets or fund balances Part XI line 9

“On November 28, 2020, Cola Resources Inc.s accounting and bookkeeping activities were transferred from a former affiliated organization. As a result of that transfer, an analysis and reconciliation of various general ledger accounts yeilded a net adjustment of $104,748 to unrestricted net assets.”

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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt01289531
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt01158257
IRS990ScheduleA/Total509Grp/TotalAmt05538397
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0687437
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt01084011
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt01319161
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt01289531
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt01158257
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt05538397
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt03758
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt03758
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0125609
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Symposium Facility Deposit
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt065862
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt041888
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt0107750
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0112909
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt12203
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2125609
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Accrued Liabilities
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Accrued Payroll Liabilities
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Symposium Facility Guarantee
IRS990ScheduleD/TotalBookValueLandBuildingsAmt069620
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0125609
IRS990ScheduleD/TotalLiabilityAmt0240721
IRS990ScheduleJ/AnyNonFixedPaymentsInd0false
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/CompensationCommitteeInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0218311
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt0264885
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0James E Liggins
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0Chair Director CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0218311
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990ScheduleJ/WrittenEmploymentContractInd0X
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0This return has been provided to the Board of Directors for review and comment prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Each member of the Cola Resouces Inc.s (CRIs) Board of Directors has a legal and fiduciary responsibility, while acting in the capacity of a CRI Director, to make decisions exclusively based upon what the Director belives is in the best interest of CRI. No Director should vote or take a position on any issue before the Board based upon his or her personal interests or the interests of another organization. If a Director believes that there may be a conflict affecting his or her ability to act in the best interests of CRI, that issue should be disclosaed to the Board, and the Director should recuse him or her self pending review and resolution by the Board in accordance with CRIs Conflict of Interest protocol.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A Compensation Committee Of Cola Resources Inc,s Board of Directors composed entirely of individuals with no Conflicts of Interest as defined under IRS rules deterimines the CEOs compensation.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Cola Resources Inc. makes its governing documents, Conflict of Interest Policy and financial Statements available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4On November 28, 2020, Cola Resources Inc.s accounting and bookkeeping activities were transferred from a former affiliated organization. As a result of that transfer, an analysis and reconciliation of various general ledger accounts yeilded a net adjustment of $104,748 to unrestricted net assets.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Explanation of other changes in net assets or fund balances Part XI line 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0MD
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt0373083
IRS990/TotalAssetsGrp/BOYAmt01191048
IRS990/TotalAssetsGrp/EOYAmt0373083
IRS990/TotalCompGreaterThan150KInd0true
IRS990/TotalEmployeeCnt07
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt042476
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0807086
IRS990/TotalFunctionalExpensesGrp/TotalAmt0849562
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01123214
IRS990/TotalLiabilitiesEOYAmt0362626
IRS990/TotalLiabilitiesGrp/BOYAmt01123214
IRS990/TotalLiabilitiesGrp/EOYAmt0362626
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt067834
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt010457
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0807086
IRS990/TotalProgramServiceRevenueAmt0687437
IRS990/TotalReportableCompFromOrgAmt0218311
IRS990/TotalRevenueGrp/ExclusionAmt0687437
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0687437
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01191048
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0373083
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt0222
IRS990/TravelGrp/ProgramServicesAmt04209
IRS990/TravelGrp/TotalAmt04431
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0114072
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0www.CRIEDU.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0false
ReturnHeader/BusinessOfficerGrp/PersonNm0James E Liggins
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Chief Executive
ReturnHeader/BusinessOfficerGrp/PhoneNum08772348193
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-11-18
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0COLA Resources Inc
ReturnHeader/Filer/BusinessNameControlTxt0COLA
ReturnHeader/Filer/EIN0800875539
ReturnHeader/Filer/USAddress/AddressLine1Txt011101 Resort Road Suite 224
ReturnHeader/Filer/USAddress/CityNm0Ellicott City
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MD
ReturnHeader/Filer/USAddress/ZIPCd021042
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Alfred J Discepolo CPA PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt04401 Charles City Road
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Henrico
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0VA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd023231
ReturnHeader/PreparerPersonGrp/PhoneNum04102077627
ReturnHeader/PreparerPersonGrp/PreparationDt02021-02-04
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Alfred J Discepolo CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02021-02-04T12:22:33-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-07-01
ReturnHeader/TaxPeriodEndDt02020-06-30
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$373,083
Liabilities
$362,626
Net assets
$10,457
Revenue
$687,437
Expenses
$849,562
Net income
-$162,125
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.00$0.00$0.00$0.17$0.39$0.22
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.30$0.49$0.19$0.53$0.75$0.22
2020Detailed filing. Detailed filing data is available for this year.$0.37$0.36$0.01$0.69$0.85$0.16
2019Detailed filing. Detailed filing data is available for this year.$1.19$1.12$0.07$1.08$1.33$0.25
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.06$0.74$0.32$1.32$1.21$0.11
2017Detailed filing. Detailed filing data is available for this year.$0.64$0.43$0.21$1.29$1.15$0.14
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.28$0.21$0.07$1.16$1.06$0.10
2015Detailed filing. Detailed filing data is available for this year.$0.21$0.23$0.03$0.87$0.83$0.04
2014Detailed filing. Detailed filing data is available for this year.$0.36$0.42$0.06$0.91$0.96$0.05