Civic Intelligence

Buckeye Partners Foundation

990 • Fiscal year 2018 • EIN 81-5053545

Jan 01, 2018 to Dec 31, 2018 • Filed on Oct 10, 2019

Organization ProfileN/A
One Greenway Plaza No 600Houston, TX 77046

(832) 615-8600

Siviq Scores

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

Liabilities / Assets

71st percentile

0.04x

Higher debt load relative to assets than 71% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Liabilities / Revenue

93rd percentile

0.56x

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

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Net Margin

2nd percentile

-378%

Higher net margin than 2% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

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

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Asset Growth

22nd percentile

-18%

Faster asset growth than 22% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Revenue Growth

2nd percentile

-97%

Faster revenue growth than 2% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets71st percentile

Assets

Down

$151,780

Down $32,839 (-18%) from 2017

Net Assets

Down

$146,266

Down $37,285 (-20%) from 2017

Liabilities

Up

$5,514

Up $4,446 (+416%) from 2017

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin2nd percentile

Revenue

Down

$9,859

Down $382,115 (-97%) from 2017

Expenses

Down

$47,144

Down $161,279 (-77%) from 2017

Net Income

Down

-$37,285

Down $220,836 (-120%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth22nd percentile

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

$600K$400K$200K$0Assets 2016: $0Liabilities 2016: $0Net Assets 2016: $02016Assets 2017: $184,619Liabilities 2017: $1,068Net Assets 2017: $183,5512017Assets 2018: $151,780Liabilities 2018: $5,514Net Assets 2018: $146,2662018Assets 2019: $440,392Liabilities 2019: $390,450Net Assets 2019: $49,9422019Assets 2020: $34,344Liabilities 2020: $7,797Net Assets 2020: $26,5472020Assets 2021: $66,735Liabilities 2021: $7,513Net Assets 2021: $59,2222021Assets 2022: $52,913Liabilities 2022: $7,821Net Assets 2022: $45,0922022Assets 2023: $0Liabilities 2023: $0Net Assets 2023: $02023

Highlighted filing

2018

Assets$151,780
Liabilities$5,514
Net Assets$146,266
Open 2018 Filing

Operations Trend

Revenue Growth2nd percentile

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

$800K$600K$400K$200K$0-$200KRevenue 2016: $309,142Expenses 2016: $309,142Net Income 2016: $02016Revenue 2017: $391,974Expenses 2017: $208,423Net Income 2017: $183,5512017Revenue 2018: $9,859Expenses 2018: $47,144Net Income 2018: -$37,2852018Revenue 2019: $504,456Expenses 2019: $600,780Net Income 2019: -$96,3242019Revenue 2020: $15,012Expenses 2020: $38,407Net Income 2020: -$23,3952020Revenue 2021: $91,344Expenses 2021: $58,669Net Income 2021: $32,6752021Revenue 2022: $22,445Expenses 2022: $36,575Net Income 2022: -$14,1302022Revenue 2023: $32,599Expenses 2023: $77,691Net Income 2023: -$45,0922023

Highlighted filing

2018

Revenue$9,859
Expenses$47,144
Net Income-$37,285
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Oct 10, 2019
Return Version
2018v3.1
Gross Receipts
$9,859
Mission and Program Overview

Mission

Buckeye partners foundation provides aid to the employees of buckeye partners, l.p. Or its affiliates, including, without limitation, buckeye pipe line services company, and the families of such employees, suffering financial need (continued on schedule o)or distress resulting from catastrophic events in their lives such as natural or civil disasters. The foundation also provides grants to other section 501(c)(3) public charities to support the charitable work of those organizations.

SEE PART III, LINE 1.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$184,619$151,780▼ $32,839
Total Assets$184,619$151,780▼ $32,839
Liabilities
Accounts Payable and Accrued Expenses$1,068$5,514▲ $4,446
Total Liabilities$1,068$5,514▲ $4,446
Net Assets / Fund Balance
Unrestricted Net Assets$183,551$146,266▼ $37,285
Total Net Assets Fund Balance$183,551$146,266▼ $37,285
Total Liabilities and Net Assets / Fund Balance$184,619$151,780▼ $32,839
Compensation and Service Providers
Top Officer Pay76th percentile

Board Members and Trustees

NameTitle
Clark C SmithPresident
Todd J RussoSecretary
Keith E StclairTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$9,859
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$9,111
Change in Net Assets
$-37,285

Audited Revenue Reconciliation

Revenue per Audited Statements
$9,859
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$13,100
Total Revenue per Audited Statements
$22,959
Total Revenue per Form 990
$9,859
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$47,144
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 Accounting-$17,801-$17,801
Other Expenses-$14,847-$14,847
Fees for Services Legal-$11,061-$11,061
Fees for Services Other$2,750--$2,750
Office Expenses-$685-$685
Total Functional Expenses$2,750$44,394$0$47,144

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$60,244
Expenses per Audited Statements$47,144
Total Expenses per Form 990$47,144
Expenses Not Reported on Form 990$13,100
Expenses Not Reported on Financial Statements$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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“Buckeye partners, l.p. Is the sole member of the buckeye partners foundation.”

Form 990, Part VI, Section A, Line 7A

“Buckeye partners, l.p. Has the right to appoint the directors and officers of buckeye partners foundation.”

Form 990, Part VI, Section A, Line 8B

“There are no committees with authority to act on behalf of the governing body.”

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

“The form 990 was prepared by the outside accountants and reviewed by the tax personnel of buckeye partners, l.p. A copy was provided to the foundation's board prior to filing with the irs.”

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

“Directors and officers are covered under the policy and they complete a conflict of interest declaration on an annual basis that speaks to potential conflicts. Potential conflicts are brought to a director or officer of the company for evaluation. If a conflict exists, the interested person recuses themselves from voting on the matter.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon reasonable request.”

FORM 990, PART VII, SECTION A:

“The day-to-day operations of the organization are managed by a volunteer board of directors.”

Filing and Contact Details

Filer

Filer Name
Buckeye Partners Foundation
EIN
81-5053545
Phone
8326158600
Address
ONE GREENWAY PLAZA NO 600, HOUSTON, TX 77046

Signing Officer

Name
Keith E Stclair
Title
Treasurer
Phone
8326158600
Signed
2019-10-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Clark C Smith
Formed
2016
Legal Domicile
De
Voting Board Members
3
Independent Board Members
0
Employees
0
Volunteers
18

Preparer

Firm
Gelman Rosenberg & Freedman
Address
4550 MONTGOMERY AVE SUITE 800N, BETHESDA, MD 20814-2930
Preparer
Richard J Locastro CPA
Phone
3019519090
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“For the year ended december 31, 2018, the foundation has documented its consideration of fasb topic 740, income taxes, that provides guidance for reporting uncertainty in income taxes, and has determined that no material uncertain tax positions qualify for either recognition or disclosure in the financial statements.”

Raw XML Appendix368 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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IRS990/MissionDesc0BUCKEYE PARTNERS FOUNDATION PROVIDES AID TO THE EMPLOYEES OF BUCKEYE PARTNERS, L.P. OR ITS AFFILIATES, INCLUDING, WITHOUT LIMITATION, BUCKEYE PIPE LINE SERVICES COMPANY, AND THE FAMILIES OF SUCH EMPLOYEES, SUFFERING FINANCIAL NEED OR DISTRESS RESULTING FROM CATASTROPHIC EVENTS IN THEIR LIVES SUCH AS NATURAL OR CIVIL DISASTERS. THE FOUNDATION ALSO PROVIDES GRANTS TO OTHER SECTION 501(C)(3) PUBLIC CHARITIES TO SUPPORT THE CHARITABLE WORK OF THOSE ORGANIZATIONS.
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE INFORMATION REPORTED IN THE 2016 COLUMN OF PART II REPRESENTS THE SHORT PERIOD OCTOBER 10, 2016 THROUGH DECEMBER 31, 2016.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, SHORT YEAR EXPLANATION:
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0FOR THE YEAR ENDED DECEMBER 31, 2018, THE FOUNDATION HAS DOCUMENTED ITS CONSIDERATION OF FASB TOPIC 740, INCOME TAXES, THAT PROVIDES GUIDANCE FOR REPORTING UNCERTAINTY IN INCOME TAXES, AND HAS DETERMINED THAT NO MATERIAL UNCERTAIN TAX POSITIONS QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0BUCKEYE PARTNERS, L.P. IS THE SOLE MEMBER OF THE BUCKEYE PARTNERS FOUNDATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BUCKEYE PARTNERS, L.P. HAS THE RIGHT TO APPOINT THE DIRECTORS AND OFFICERS OF BUCKEYE PARTNERS FOUNDATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THERE ARE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FORM 990 WAS PREPARED BY THE OUTSIDE ACCOUNTANTS AND REVIEWED BY THE TAX PERSONNEL OF BUCKEYE PARTNERS, L.P. A COPY WAS PROVIDED TO THE FOUNDATION'S BOARD PRIOR TO FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DIRECTORS AND OFFICERS ARE COVERED UNDER THE POLICY AND THEY COMPLETE A CONFLICT OF INTEREST DECLARATION ON AN ANNUAL BASIS THAT SPEAKS TO POTENTIAL CONFLICTS. POTENTIAL CONFLICTS ARE BROUGHT TO A DIRECTOR OR OFFICER OF THE COMPANY FOR EVALUATION. IF A CONFLICT EXISTS, THE INTERESTED PERSON RECUSES THEMSELVES FROM VOTING ON THE MATTER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REASONABLE REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE DAY-TO-DAY OPERATIONS OF THE ORGANIZATION ARE MANAGED BY A VOLUNTEER BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VII, SECTION A:
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PrimaryActivitiesTxt0TRANSPORTATION, STORAGE AND MARKETING OF LIQUID PETROLEUM PRODUCTS
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Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$151,780
Liabilities
$5,514
Net assets
$146,266
Revenue
$9,859
Expenses
$47,144
Net income
-$37,285
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.33$0.78$0.45
2022Detailed filing. Detailed filing data is available for this year.$0.53$0.08$0.45$0.22$0.37$0.14
2021Detailed filing. Detailed filing data is available for this year.$0.67$0.08$0.59$0.91$0.59$0.33
2020Detailed filing. Detailed filing data is available for this year.$0.34$0.08$0.27$0.15$0.38$0.23
2019Detailed filing. Detailed filing data is available for this year.$4.40$3.90$0.50$5.04$6.01$0.96
2018Detailed filing. Detailed filing data is available for this year.$1.52$0.06$1.46$0.10$0.47$0.37
2017Detailed filing. Detailed filing data is available for this year.$1.85$0.01$1.84$3.92$2.08$1.84
2016Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$3.09$3.09$0.00