Civic Intelligence

Flagship Enterprise Capital Inc

990 • Fiscal year 2020 • EIN 81-3693405

Jun 01, 2019 to May 31, 2020 • Filed on Oct 14, 2020

Organization ProfileN/A
2705 Enterprise DriveAnderson, IN 46013

(765) 622-0800

Siviq Scores

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

Liabilities / Assets

84th percentile

0.51x

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

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

Liabilities / Revenue

92nd percentile

1.41x

Higher debt load relative to revenue than 92% of similar nonprofits.

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

Net Margin

96th percentile

76%

Higher net margin than 96% of similar nonprofits.

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

Top Officer Pay

51st percentile

$0

Higher top officer pay than 51% of similar nonprofits.

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

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

Asset Growth

78th percentile

36%

Faster asset growth than 78% of similar nonprofits.

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

Revenue Growth

83rd percentile

38%

Faster revenue growth than 83% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets84th percentile

Assets

Up

$735,678

Up $196,217 (+36%) from 2019

Net Assets

Up

$360,663

Up $200,235 (+125%) from 2019

Liabilities

Down

$375,015

Down $4,018 (-1.1%) from 2019

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin96th percentile

Revenue

Up

$265,207

Up $73,645 (+38%) from 2019

Expenses

Up

$64,972

Up $22,945 (+55%) from 2019

Net Income

Up

$200,235

Up $50,700 (+34%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth78th percentile

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

$3.0M$2.0M$1.0M$0Assets 2019: $539,461Liabilities 2019: $379,033Net Assets 2019: $160,4282019Assets 2020: $735,678Liabilities 2020: $375,015Net Assets 2020: $360,6632020Assets 2021: $1,325,147Liabilities 2021: $710,719Net Assets 2021: $614,4282021Assets 2022: $1,621,789Liabilities 2022: $556,834Net Assets 2022: $1,064,9552022Assets 2023: $1,640,945Liabilities 2023: $488,972Net Assets 2023: $1,151,9732023Assets 2024: $1,931,090Liabilities 2024: $496,874Net Assets 2024: $1,434,2162024Assets 2025: $2,146,263Liabilities 2025: $274,433Net Assets 2025: $1,871,8302025

Highlighted filing

2020

Assets$735,678
Liabilities$375,015
Net Assets$360,663
Open 2020 Filing

Operations Trend

Revenue Growth83rd percentile

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

$800K$600K$400K$200K$0Revenue 2019: $191,562Expenses 2019: $42,027Net Income 2019: $149,5352019Revenue 2020: $265,207Expenses 2020: $64,972Net Income 2020: $200,2352020Revenue 2021: $444,245Expenses 2021: $190,480Net Income 2021: $253,7652021Revenue 2022: $739,498Expenses 2022: $288,971Net Income 2022: $450,5272022Revenue 2023: $440,616Expenses 2023: $360,424Net Income 2023: $80,1922023Revenue 2024: $767,074Expenses 2024: $475,903Net Income 2024: $291,1712024Revenue 2025: $752,907Expenses 2025: $379,156Net Income 2025: $373,7512025

Highlighted filing

2020

Revenue$265,207
Expenses$64,972
Net Income$200,235
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jun 1, 2019 to May 31, 2020
Signed
Oct 14, 2020
Return Version
2019v5.1
Gross Receipts
$265,207
Mission and Program Overview

Mission

To be a mission driven financial institution that helps provide financial services to meet the needs of economically disadvantaged businesses and individuals in underserved communities.

A mission driven financial institution that helps provide financial services to meet the needs of economically disadvantaged businesses and individuals in underserved communities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$381,457$552,189▲ $170,732
Cash and Non-Interest-Bearing Accounts$156,130$166,432▲ $10,302
Prepaid Expenses and Deferred Charges-$15,174-
Accounts Receivable$1,874$1,883▲ $9
Total Assets$539,461$735,678▲ $196,217
Liabilities
Mortgage Notes Payable Secured by Investment Property$362,412$374,365▲ $11,953
Other Liabilities$16,621$650▼ $15,971
Total Liabilities$379,033$375,015▼ $4,018
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$160,428$360,663▲ $200,235
Total Net Assets Fund Balance$160,428$360,663▲ $200,235
Total Liabilities and Net Assets / Fund Balance$539,461$735,678▲ $196,217
Compensation and Service Providers
Top Officer Pay51st percentile

Board Members and Trustees

NameTitle
Barbara AlderChairman
Annette PhillipsDirector
Jadira HoptryDirector
Jan MansfieldDirector
Jason KingDirector
Mathew FoleyDirector
William BirdsongDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$220,000
Program Service Revenue
$10,457
Investment Income
$34,750
Other Revenue
$0
All Other Contributions
$20,000
Change in Net Assets
$200,235

Audited Revenue Reconciliation

Revenue per Audited Statements
$265,207
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$265,207
Total Revenue per Form 990
$265,207
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$64,972
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
Fees for Services Legal-$11,250-$11,250
Interest$10,552--$10,552
Other Expenses$1,886--$1,886
Office Expenses$1,382--$1,382
Fees for Services Accounting$1,150--$1,150
All Other Expenses$1,130--$1,130
Total Functional Expenses$53,722$11,250$0$64,972

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$64,972
Expenses per Audited Statements$54,031
Total Expenses per Audited Statements$54,031
Expenses Not Reported on Financial Statements$10,941
Other Expense Adjustments$10,941
Expenses Not Reported on Form 990$0
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
Accrued Interest$650
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“The board chair has been authorized to review the form 990 and provide a report to the board.”

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

“The organization reviews the policy as new officers, directors, and key employees are added (or changed) and reviews existing members, not less than annually.”

Form 990, Part VI, Section B, Line 15

“The annual performance review is completed on the ceo by the executive committee.”

Form 990, Part VI, Section C, Line 19

“With adequate notice, the organization makes its governing documents, related policies, and financial statements available, upon request of the board chair.”

Filing and Contact Details

Filer

Filer Name
Flagship Enterprise Capital Inc
EIN
81-3693405
Phone
7656220800
Address
2705 ENTERPRISE DRIVE, ANDERSON, IN 46013

Signing Officer

Name
Terry Truitt
Title
President & CEO
Phone
7656220400
Signed
2020-10-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Terry Truitt
Formed
2016
Legal Domicile
In
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
0

Preparer

Firm
J P Kane & Co LLC
Address
7303 QUALITY CIRCLE, ANDERSON, IN 46013-2014
Preparer
John P Kane CPA
Phone
7656401211
Supplemental Narrative

Additional Explanations

Form 990, XII, 2C

“Flagship capital has an audit of their financial statements by a cpa firm specializing with not-for-profit entities. The audit is consolidated with a related entity, which is separately reported for tax purposes.”

Financial Statement Notes

PART XII, LINE 4B - OTHER ADJUSTMENTS:

“Related party expenses 10941.”

Raw XML Appendix369 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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0RELATED PARTY EXPENSES 10941.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART XII, LINE 4B - OTHER ADJUSTMENTS:
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD CHAIR HAS BEEN AUTHORIZED TO REVIEW THE FORM 990 AND PROVIDE A REPORT TO THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION REVIEWS THE POLICY AS NEW OFFICERS, DIRECTORS, AND KEY EMPLOYEES ARE ADDED (OR CHANGED) AND REVIEWS EXISTING MEMBERS, NOT LESS THAN ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ANNUAL PERFORMANCE REVIEW IS COMPLETED ON THE CEO BY THE EXECUTIVE COMMITTEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3WITH ADEQUATE NOTICE, THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, RELATED POLICIES, AND FINANCIAL STATEMENTS AVAILABLE, UPON REQUEST OF THE BOARD CHAIR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4FLAGSHIP CAPITAL HAS AN AUDIT OF THEIR FINANCIAL STATEMENTS BY A CPA FIRM SPECIALIZING WITH NOT-FOR-PROFIT ENTITIES. THE AUDIT IS CONSOLIDATED WITH A RELATED ENTITY, WHICH IS SEPARATELY REPORTED FOR TAX PURPOSES.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, XII, 2C
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0IN
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0539461
IRS990/TotalAssetsEOYAmt0735678
IRS990/TotalAssetsGrp/BOYAmt0539461
IRS990/TotalAssetsGrp/EOYAmt0735678
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0220000
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt011250
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt053722
IRS990/TotalFunctionalExpensesGrp/TotalAmt064972
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0379033
IRS990/TotalLiabilitiesEOYAmt0375015
IRS990/TotalLiabilitiesGrp/BOYAmt0379033
IRS990/TotalLiabilitiesGrp/EOYAmt0375015
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0160428
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0360663
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt053722
IRS990/TotalProgramServiceRevenueAmt010457
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt045207
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0265207
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0539461
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0735678
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02705 ENTERPRISE DRIVE
IRS990/USAddress/CityNm0ANDERSON
IRS990/USAddress/StateAbbreviationCd0IN
IRS990/USAddress/ZIPCd046013
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02021-01-29 14:40:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0TERRY TRUITT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT & CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum07656220400
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-10-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FLAGSHIP ENTERPRISE CAPITAL INC
ReturnHeader/Filer/BusinessNameControlTxt0FLAG
ReturnHeader/Filer/EIN0813693405
ReturnHeader/Filer/PhoneNum07656220800
ReturnHeader/Filer/USAddress/AddressLine1Txt02705 ENTERPRISE DRIVE
ReturnHeader/Filer/USAddress/CityNm0ANDERSON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IN
ReturnHeader/Filer/USAddress/ZIPCd046013
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0FA6262B05E74681288E5CF2AE4410D9AEF7673FA
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0FA6262B05E74681288E5CF2AE4410D9AEF7673FA
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt050.77.187.37
ReturnHeader/FilingSecurityInformation/IPDt02020-10-14
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm010:02:26
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0352125101
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0J P KANE & CO LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt07303 QUALITY CIRCLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ANDERSON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0460132014
ReturnHeader/PreparerPersonGrp/PhoneNum07656401211
ReturnHeader/PreparerPersonGrp/PreparationDt02020-10-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOHN P KANE CPA
ReturnHeader/ReturnTs02020-10-15T07:11:10-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-06-01
ReturnHeader/TaxPeriodEndDt02020-05-31
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
$735,678
Liabilities
$375,015
Net assets
$360,663
Revenue
$265,207
Expenses
$64,972
Net income
$200,235
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$2.15$0.27$1.87$0.75$0.38$0.37
2024Detailed filing. Detailed filing data is available for this year.$1.93$0.50$1.43$0.77$0.48$0.29
2023Detailed filing. Detailed filing data is available for this year.$1.64$0.49$1.15$0.44$0.36$0.08
2022Detailed filing. Detailed filing data is available for this year.$1.62$0.56$1.06$0.74$0.29$0.45
2021Detailed filing. Detailed filing data is available for this year.$1.33$0.71$0.61$0.44$0.19$0.25
2020Detailed filing. Detailed filing data is available for this year.$0.74$0.38$0.36$0.27$0.06$0.20
2019Detailed filing. Detailed filing data is available for this year.$0.54$0.38$0.16$0.19$0.04$0.15