Civic Intelligence

Cardiovascular Innovations Foundation

990 • Fiscal year 2017 • EIN 81-3064105

Jan 01, 2017 to Dec 31, 2017 • Filed on Apr 09, 2018

44 Cook StreetDenver, CO 80206

(440) 821-1026

Siviq Scores

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

Liabilities / Assets

30th percentile

0.02x

Higher debt load relative to assets than 30% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

16th percentile

0.00x

Higher debt load relative to revenue than 16% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

70th percentile

13%

Higher net margin than 70% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

98th percentile

290%

Faster asset growth than 98% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

100th percentile

12658%

Faster revenue growth than 100% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Assets

Up

$146,607

Up $108,990 (+290%) from 2016

Net Assets

Up

$144,070

Up $167,866 (+705%) from 2016

Liabilities

Down

$2,537

Down $58,876 (-96%) from 2016

Revenue

Up

$1,320,485

Up $1,310,135 (+12658%) from 2016

Expenses

Up

$1,152,589

Up $1,118,443 (+3275%) from 2016

Net Income

Up

$167,896

Up $191,692 (+806%) from 2016

Historical Trend

Balance Sheet Trend

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

$1.5M$1.0M$500K$0-$500KAssets 2016: $37,617Liabilities 2016: $61,413Net Assets 2016: -$23,7962016Assets 2017: $146,607Liabilities 2017: $2,537Net Assets 2017: $144,0702017Assets 2018: $209,595Liabilities 2018: $88,398Net Assets 2018: $121,1972018Assets 2019: $154,271Liabilities 2019: $11,262Net Assets 2019: $143,0092019Assets 2020: $557,175Liabilities 2020: $48,537Net Assets 2020: $508,6382020Assets 2021: $1,003,224Liabilities 2021: $32,905Net Assets 2021: $970,3192021Assets 2022: $945,464Liabilities 2022: $5,442Net Assets 2022: $940,0222022Assets 2023: $681,388Liabilities 2023: $24,483Net Assets 2023: $656,9052023Assets 2024: $451,338Liabilities 2024: $3,156Net Assets 2024: $448,1822024

Highlighted filing

2017

Assets$146,607
Liabilities$2,537
Net Assets$144,070

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2016: $10,350Expenses 2016: $34,146Net Income 2016: -$23,7962016Revenue 2017: $1,320,485Expenses 2017: $1,152,589Net Income 2017: $167,8962017Revenue 2018: $1,894,297Expenses 2018: $1,822,250Net Income 2018: $72,0472018Revenue 2019: $2,137,065Expenses 2019: $2,141,686Net Income 2019: -$4,6212019Revenue 2020: $715,304Expenses 2020: $378,340Net Income 2020: $336,9642020Revenue 2021: $988,545Expenses 2021: $526,864Net Income 2021: $461,6812021Revenue 2022: $1,533,761Expenses 2022: $1,564,058Net Income 2022: -$30,2972022Revenue 2023: $1,510,949Expenses 2023: $1,794,066Net Income 2023: -$283,1172023Revenue 2024: $1,735,327Expenses 2024: $1,944,050Net Income 2024: -$208,7232024

Highlighted filing

2017

Revenue$1,320,485
Expenses$1,152,589
Net Income$167,896
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Apr 9, 2018
Return Version
2017v2.2
Gross Receipts
$1,320,485
Mission and Program Overview

Mission

Addressing unmet needs in cardiovascular care through the study, design, and development of innovative health care solutions and education of healthcare providers and the larger public.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$19,808$112,351▲ $92,543
Rtn Earn Endowment Incm Other Fnds$1,069$110,770▲ $109,701
Loans From Officers Directors$59,500--
Pd in Cap Srpls Land Bldg Eqp Fund-$33,300-
Land, Buildings, and Equipment, Net$1,069$956▼ $113
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Cap Stk Tr Prin Current Funds$-24,865--
Total Assets$37,617$146,607▲ $108,990
Other Assets Total$16,740$33,300▲ $16,560
Liabilities
Accounts Payable and Accrued Expenses-$1,581-
Other Liabilities$1,913$956▼ $957
Total Liabilities$61,413$2,537▼ $58,876
Net Assets / Fund Balance
Total Net Assets Fund Balance$-23,796$144,070▲ $167,866
Total Liabilities and Net Assets / Fund Balance$37,617$146,607▲ $108,990

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$956$169$1,125
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$746,000
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$574,485
All Other Contributions
$746,000
Change in Net Assets
$167,896
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,041,243
Salaries, Compensation, and Employee Benefits$111,346
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Travel-$529,745-$529,745
Office Expenses-$221,083-$221,083
Fees for Services Other-$196,086-$196,086
Other Salaries and Wages-$111,346-$111,346
Advertising-$27,144-$27,144
Fees for Services Legal-$25,591-$25,591
Conferences and Meetings-$19,225-$19,225
Fees for Services Accounting-$5,032-$5,032
Other Expenses-$1,913-$1,913
Interest-$435-$435
Depreciation Depletion-$113-$113
Total Functional Expenses$0$1,152,589$0$1,152,589
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$574,485
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Event 1$574,485$574,485-$574,485
Total Events$574,485$574,485-$574,485
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$59,500--
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Prior liabilities$956
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Backup withholding compliance
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, Part VI, Line 11B: Form 990 Review Process

No review was or will be conducted.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

No documents available to the public.

Filing and Contact Details

Filer

Filer Name
Cardiovascular Innovations Foundation
EIN
81-3064105
Address
44 Cook Street, Denver, CO 80206

Signing Officer

Name
Paul Sorajja
Title
Director
Signed
2018-04-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Paul Sorajja
Formed
2016
Legal Domicile
Co
Voting Board Members
4
Independent Board Members
0
Employees
0

Preparer

Firm
Mills Schmitz & Zaloudek LLC
Address
600 17th Street Ste 2800, DENVER, CO 80202
Preparer
Kevin Zaloudek
Phone
3036382016
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01320485
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt037617
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0146607
IRS990/TravelGrp/ManagementAndGeneralAmt0529745
IRS990/TravelGrp/TotalAmt0529745
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0www.cvinnovations.org
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Paul Sorajja
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Director
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-04-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Cardiovascular Innovations Foundation
ReturnHeader/Filer/BusinessNameControlTxt0CARD
ReturnHeader/Filer/EIN0813064105
ReturnHeader/Filer/USAddress/AddressLine1Txt044 Cook Street
ReturnHeader/Filer/USAddress/CityNm0Denver
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CO
ReturnHeader/Filer/USAddress/ZIPCd080206
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0270351701
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Mills Schmitz & Zaloudek LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0600 17th Street Ste 2800
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0DENVER
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd080202
ReturnHeader/PreparerPersonGrp/PhoneNum03036382016
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Kevin Zaloudek
ReturnHeader/ReturnTs02018-04-11T11:33:09-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

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