Civic Intelligence

Sapientia Association Inc.

990 • Fiscal year 2021 • EIN 81-2106002

Apr 01, 2020 to Mar 31, 2021 • Filed on Jul 28, 2021

Organization ProfileN/A
111 Smith Ridge RoadSouth Salem, NY 10590

(203) 451-1861

Siviq Scores

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

Liabilities / Assets

83rd percentile

0.43x

Higher debt load relative to assets than 83% of similar nonprofits.

2021 filings • NTEE X • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

80th percentile

0.64x

Higher debt load relative to revenue than 80% of similar nonprofits.

2021 filings • NTEE X • $1M-$5M nonprofits • Source year 2021

Net Margin

95th percentile

92%

Higher net margin than 95% of similar nonprofits.

2021 filings • NTEE X • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

58th percentile

$0

Higher top officer pay than 58% of similar nonprofits.

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

2021 filings • NTEE X • $1M-$5M nonprofits • Source year 2021

Asset Growth

19th percentile

-0.9%

Faster asset growth than 19% of similar nonprofits.

2021 filings • NTEE X • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

98th percentile

1395%

Faster revenue growth than 98% of similar nonprofits.

2021 filings • NTEE X • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets83rd percentile

Assets

Down

$1,924,891

Down $18,070 (-0.9%) from 2020

Net Assets

Up

$1,104,391

Up $1,174,680 (+1671%) from 2020

Liabilities

Down

$820,500

Down $1,192,750 (-59%) from 2020

Revenue And Expenses
Liabilities / Revenue80th percentileNet Margin95th percentile

Revenue

Up

$1,280,438

Up $1,194,763 (+1395%) from 2020

Expenses

Up

$105,758

Up $6,695 (+6.8%) from 2020

Net Income

Up

$1,174,680

Up $1,188,068 (+8874%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth19th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MAssets 2017: $1,378,806Liabilities 2017: $1,395,246Net Assets 2017: -$16,4402017Assets 2018: $1,357,457Liabilities 2018: $1,393,946Net Assets 2018: -$36,4892018Assets 2019: $1,944,349Liabilities 2019: $2,001,250Net Assets 2019: -$56,9012019Assets 2020: $1,942,961Liabilities 2020: $2,013,250Net Assets 2020: -$70,2892020Assets 2021: $1,924,891Liabilities 2021: $820,500Net Assets 2021: $1,104,3912021Assets 2022: $1,867,215Liabilities 2022: $820,500Net Assets 2022: $1,046,7152022Assets 2023: $1,816,653Liabilities 2023: $820,500Net Assets 2023: $996,1532023Assets 2024: $1,791,881Liabilities 2024: $820,500Net Assets 2024: $971,3812024Assets 2025: $1,749,630Liabilities 2025: $820,500Net Assets 2025: $929,1302025

Highlighted filing

2021

Assets$1,924,891
Liabilities$820,500
Net Assets$1,104,391
Open 2021 Filing

Operations Trend

Revenue Growth98th percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2017: $56,960Expenses 2017: $73,400Net Income 2017: -$16,4402017Revenue 2018: $58,286Expenses 2018: $78,335Net Income 2018: -$20,0492018Revenue 2019: $97,180Expenses 2019: $117,592Net Income 2019: -$20,4122019Revenue 2020: $85,675Expenses 2020: $99,063Net Income 2020: -$13,3882020Revenue 2021: $1,280,438Expenses 2021: $105,758Net Income 2021: $1,174,6802021Revenue 2022: $111,388Expenses 2022: $169,064Net Income 2022: -$57,6762022Revenue 2023: $72,314Expenses 2023: $122,877Net Income 2023: -$50,5632023Revenue 2024: $101,344Expenses 2024: $126,116Net Income 2024: -$24,7722024Revenue 2025: $81,565Expenses 2025: $123,816Net Income 2025: -$42,2512025

Highlighted filing

2021

Revenue$1,280,438
Expenses$105,758
Net Income$1,174,680
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Apr 1, 2020 to Mar 31, 2021
Signed
Jul 28, 2021
Return Version
2020v4.0
Gross Receipts
$1,280,438
Mission and Program Overview

Mission

To teach children and adults the tennaments of the catholic faith as it existed prior to vatican ii.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,940,138$1,896,860▼ $43,278
Cash and Non-Interest-Bearing Accounts$2,823$28,031▲ $25,208
Total Assets$1,942,961$1,924,891▼ $18,070
Liabilities
Other Liabilities$152,250$755,500▲ $603,250
Mortgage Notes Payable Secured by Investment Property$1,861,000$65,000▼ $1,796,000
Total Liabilities$2,013,250$820,500▼ $1,192,750
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-70,289$1,104,391▲ $1,174,680
Total Net Assets Fund Balance$-70,289$1,104,391▲ $1,174,680
Total Liabilities and Net Assets / Fund Balance$1,942,961$1,924,891▼ $18,070

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,394,552$159,049$1,553,601
Land$464,950-$464,950
Other Land Buildings$35,699$3,967$39,666
Equipment$1,659$3,916$5,575
Compensation and Service Providers
Top Officer Pay58th percentile

Board Members and Trustees

NameTitle
Frank CorsoPresident
Revenue and Support

Revenue Composition

Contributions and Grants
$1,280,438
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$1,280,438
Change in Net Assets
$1,174,680
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$105,758
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
Depreciation Depletion$43,278--$43,278
Occupancy$20,228--$20,228
Insurance$10,396--$10,396
All Other Expenses$5,053--$5,053
Fees for Services Legal$3,845--$3,845
Other Expenses$1,910--$1,910
Fees for Services Accounting$1,600--$1,600
Office Expenses$1,510--$1,510
Travel$100--$100
Total Functional Expenses$105,758$0$0$105,758
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
Loan- Mary Chapel$600,000
Due to Sapentia Education Associatio$155,500
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 7A

“Members are appointed by the board of trustees. Such individual must be a practicing catholic and must sign and live by the oath against modernism of pope pius x.”

Form 990, Page 6, Part VI, Line 11B

“Cpa reviews the tax return with at least one board member”

Form 990, Page 6, Part VI, Line 19

“Thru advertising in public media.”

Filing and Contact Details

Filer

Filer Name
Sapientia Association Inc
EIN
81-2106002
Address
111 SMITH RIDGE ROAD, SOUTH SALEM, NY 10590

Signing Officer

Name
Frank Corso
Title
President
Phone
2037780663
Signed
2021-07-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Frank Corso
Formed
2016
Legal Domicile
Ny
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
25

Preparer

Firm
Angliss & Colohan Pc
Address
21 NEW BRITAIN AVE STE 106, ROCKY HILL, CT 06067-1100
Preparer
John a Barbosa Jr CPA
Phone
8602574611
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Part I, Line 6

“Assist in the teaching of the catholic faith as it existed prior to vatican ii”

Raw XML Appendix285 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ASSIST IN THE TEACHING OF THE CATHOLIC FAITH AS IT EXISTED PRIOR TO VATICAN II
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MEMBERS ARE APPOINTED BY THE BOARD OF TRUSTEES. SUCH INDIVIDUAL MUST BE A PRACTICING CATHOLIC AND MUST SIGN AND LIVE BY THE OATH AGAINST MODERNISM OF POPE PIUS X.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CPA REVIEWS THE TAX RETURN WITH AT LEAST ONE BOARD MEMBER
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THRU ADVERTISING IN PUBLIC MEDIA.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 1, PART I, LINE 6
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
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ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02037780663
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-07-28
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SAPIENTIA ASSOCIATION INC
ReturnHeader/Filer/BusinessNameControlTxt0SAPI
ReturnHeader/Filer/EIN0812106002
ReturnHeader/Filer/USAddress/AddressLine1Txt0111 SMITH RIDGE ROAD
ReturnHeader/Filer/USAddress/CityNm0SOUTH SALEM
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd010590
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0460638998
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ANGLISS & COLOHAN PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt021 NEW BRITAIN AVE STE 106
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ROCKY HILL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0060671100
ReturnHeader/PreparerPersonGrp/PhoneNum08602574611
ReturnHeader/PreparerPersonGrp/PreparationDt02021-08-02
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOHN A BARBOSA JR CPA
ReturnHeader/ReturnTs02021-08-02T12:49:39-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0FRANK
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0CORSO
ReturnHeader/TaxPeriodBeginDt02020-04-01
ReturnHeader/TaxPeriodEndDt02021-03-31
ReturnHeader/TaxYr02020

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,924,891
Liabilities
$820,500
Net assets
$1,104,391
Revenue
$1,280,438
Expenses
$105,758
Net income
$1,174,680
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.75$0.82$0.93$0.08$0.12$0.04
2024Detailed filing. Detailed filing data is available for this year.$1.79$0.82$0.97$0.10$0.13$0.02
2023Detailed filing. Detailed filing data is available for this year.$1.82$0.82$1.00$0.07$0.12$0.05
2022Detailed filing. Detailed filing data is available for this year.$1.87$0.82$1.05$0.11$0.17$0.06
2021Detailed filing. Detailed filing data is available for this year.$1.92$0.82$1.10$1.28$0.11$1.17
2020Detailed filing. Detailed filing data is available for this year.$1.94$2.01$0.07$0.09$0.10$0.01
2019Detailed filing. Detailed filing data is available for this year.$1.94$2.00$0.06$0.10$0.12$0.02
2018Detailed filing. Detailed filing data is available for this year.$1.36$1.39$0.04$0.06$0.08$0.02
2017Detailed filing. Detailed filing data is available for this year.$1.38$1.40$0.02$0.06$0.07$0.02