Civic Intelligence

Usit Foundation

990 • Fiscal year 2023 • EIN 81-2766893

Sep 01, 2022 to Aug 31, 2023 • Filed on Aug 09, 2024

Organization Profilewww.usitfoundation.org
2906 Fairhope StHouston, TX 77025

(512) 522-4411

Siviq Scores

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

Liabilities / Assets

68th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • NTEE B • <$500k nonprofits • Source year 2023

Liabilities / Revenue

68th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • NTEE B • <$500k nonprofits • Source year 2023

Net Margin

50th percentile

12%

Higher net margin than 50% of similar nonprofits.

2023 filings • NTEE B84 • <$500k nonprofits • Source year 2023

Top Officer Pay

95th percentile

$0

Higher top officer pay than 95% of similar nonprofits.

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

2023 filings • NTEE B84 • <$500k nonprofits • Source year 2023

Asset Growth

74th percentile

22%

Faster asset growth than 74% of similar nonprofits.

2023 filings • NTEE B • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

89th percentile

126%

Faster revenue growth than 89% of similar nonprofits.

2023 filings • NTEE B • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets68th percentile

Assets

$145,223

No earlier filing loaded for comparison.

Net Assets

$145,223

No earlier filing loaded for comparison.

Liabilities

$0

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue68th percentileNet Margin50th percentile

Revenue

$171,909

No earlier filing loaded for comparison.

Expenses

$150,432

No earlier filing loaded for comparison.

Net Income

$21,477

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth74th percentile

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

$150K$100K$50K$0Assets 2023: $145,223Liabilities 2023: $0Net Assets 2023: $145,2232023

Highlighted filing

2023

Assets$145,223
Liabilities$0
Net Assets$145,223
Open 2023 Filing

Operations Trend

Revenue Growth89th percentile

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

$200K$150K$100K$50K$0Revenue 2023: $171,909Expenses 2023: $150,432Net Income 2023: $21,4772023

Highlighted filing

2023

Revenue$171,909
Expenses$150,432
Net Income$21,477
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Sep 1, 2022 to Aug 31, 2023
Signed
Aug 9, 2024
Return Version
2022v5.0
Gross Receipts
$171,909
Mission and Program Overview

Mission

The Foundation supports the USIT student organization and engages its alumni to promote personal and professional growth through active charitable giving.

We develop undergraduate students to critically assess the world and apply their analysis in investing data science and philanthropy

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$73,981$94,890▲ $20,909
Investments in Publicly Traded Securities$44,961$50,333▲ $5,372
Total Assets$118,942$145,223▲ $26,281
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$118,942$145,223▲ $26,281
Total Net Assets Fund Balance$118,942$145,223▲ $26,281
Total Liabilities and Net Assets / Fund Balance$118,942$145,223▲ $26,281
Compensation and Service Providers
Top Officer Pay95th percentile

Board Members and Trustees

NameTitle
Harvey D PowersTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$148,565
Program Service Revenue
$22,722
Investment Income
$622
Other Revenue
$0
All Other Contributions
$148,565
Change in Net Assets
$21,477

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded10$77,381Stock price
Total Noncash Contributions10$77,381-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$99,645
Other Expenses$50,787
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$99,645--$99,645
Conferences and Meetings$46,864--$46,864
Information Technology-$3,629-$3,629
Office Expenses-$294-$294
Total Functional Expenses$146,509$3,923$0$150,432
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Rehabilitation Enables DreAtlanta, GA501c3Unrestricted funds$26,667
Inside CircleSacramento, CA501c3Unrestricted funds$23,294
Moneythink USAChicago, IL501c3Unrestricted funds$22,192
Prison Scholars FundSeattle, WA501c3Unrestricted funds$10,000
Prison Entrepreneur PrgramHouston, TX501c3Unrestricted funds$8,850
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
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

Part VI Line 11B

“Harvey Powers prepared, printed, reviewed, amended, reprinted, reviewed,”

Part VI Line 11B

“and submitted the form.”

Part VI Line 19

“No documents available to the public except for those online at:”

Part VI Line 19

“https://www.usitfoundation.org/”

Filing and Contact Details

Filer

Filer Name
USIT Foundation
EIN
81-2766893
In Care Of
% Harvey D Powers
Phone
5125224411
Address
2906 Fairhope St, Houston, TX 77025

Signing Officer

Name
Harvey D Powers
Title
Trustee
Phone
5125224411
Signed
2024-08-09

Organization Details

Principal Officer
Harvey D Powers
Formed
2016
Legal Domicile
TX
Voting Board Members
0
Independent Board Members
0
Employees
0
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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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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3Unrestricted funds
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt4Unrestricted funds
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IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1Prison Scholars Fund
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2Inside Circle
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IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt24540 FLORIN ROAD
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt375 W WIEUCA RD NE
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt4515 N State Street
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IRS990ScheduleI/RecipientTable/USAddress/CityNm1Seattle
IRS990ScheduleI/RecipientTable/USAddress/CityNm2Sacramento
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1and submitted the form.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2No documents available to the public except for those online at:
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ReturnHeader/BuildTS02024-08-08 14:25:15Z
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ReturnHeader/Filer/EIN0812766893
ReturnHeader/Filer/InCareOfNm0% Harvey D Powers
ReturnHeader/Filer/PhoneNum05125224411
ReturnHeader/Filer/USAddress/AddressLine1Txt02906 Fairhope St
ReturnHeader/Filer/USAddress/CityNm0Houston
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd077025
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/ReturnTs02024-08-09T14:39:25-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02022-09-01
ReturnHeader/TaxPeriodEndDt02023-08-31
ReturnHeader/TaxYr02022

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$145,223
Liabilities
$0
Net assets
$145,223
Revenue
$171,909
Expenses
$150,432
Net income
$21,477
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$1.45$0.00$1.45$1.72$1.50$0.21