Civic Intelligence

Fintech Atlanta Inc

990 • Fiscal year 2018 • EIN 81-5146743

Jan 01, 2018 to Dec 31, 2018 • Filed on Oct 08, 2019

191 Peachtree Street NE Suite 3400Atlanta, GA 30303

(404) 586-8414

Siviq Scores

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

Liabilities / Assets

47th percentile

0.00x

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

2018 filings • 501(c)6 • <$500k nonprofits • Source year 2018

Liabilities / Revenue

47th percentile

0.00x

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

2018 filings • 501(c)6 • <$500k nonprofits • Source year 2018

Net Margin

96th percentile

43%

Higher net margin than 96% of similar nonprofits.

2018 filings • 501(c)6 • <$500k nonprofits • Source year 2018

Top Officer Pay

70th percentile

$0

Higher top officer pay than 70% of similar nonprofits.

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

2018 filings • 501(c)6 • <$500k nonprofits • Source year 2018

Asset Growth

87th percentile

38%

Faster asset growth than 87% of similar nonprofits.

2018 filings • 501(c)6 • <$500k nonprofits • Annualized from 2017 to 2018

Revenue Growth

12th percentile

-28%

Faster revenue growth than 12% of similar nonprofits.

2018 filings • 501(c)6 • <$500k nonprofits • Annualized from 2017 to 2018

Assets

Up

$392,848

Up $108,574 (+38%) from 2017

Net Assets

Up

$392,848

Up $108,574 (+38%) from 2017

Liabilities

Flat

$0

Flat from 2017

Revenue

Down

$222,850

Down $84,650 (-28%) from 2017

Expenses

Up

$127,989

Up $52,924 (+71%) from 2017

Net Income

Down

$94,861

Down $137,574 (-59%) from 2017

Historical Trend

Balance Sheet Trend

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

$400K$300K$200K$100K$0Assets 2016: $51,839Liabilities 2016: $02016Assets 2017: $284,274Liabilities 2017: $0Net Assets 2017: $284,2742017Assets 2018: $392,848Liabilities 2018: $0Net Assets 2018: $392,8482018Assets 2019: $298,007Liabilities 2019: $0Net Assets 2019: $298,0072019Assets 2020: $245,729Liabilities 2020: $245,729Net Assets 2020: $02020Assets 2021: $112,652Liabilities 2021: $112,652Net Assets 2021: $02021Assets 2022: $121,821Liabilities 2022: $121,821Net Assets 2022: $02022Assets 2023: $176,225Liabilities 2023: $176,225Net Assets 2023: $02023Assets 2024: $306,964Liabilities 2024: $306,964Net Assets 2024: $02024

Highlighted filing

2018

Assets$392,848
Liabilities$0
Net Assets$392,848

Operations Trend

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

$400K$200K$0-$200KRevenue 2016: $55,000Expenses 2016: $3,161Net Income 2016: $51,8392016Revenue 2017: $307,500Expenses 2017: $75,065Net Income 2017: $232,4352017Revenue 2018: $222,850Expenses 2018: $127,989Net Income 2018: $94,8612018Revenue 2019: $26,500Expenses 2019: $126,786Net Income 2019: -$100,2862019Revenue 2020: $50,000Expenses 2020: $106,759Net Income 2020: -$56,7592020Revenue 2021: $101,507Expenses 2021: $101,507Net Income 2021: $02021Revenue 2022: $199,457Expenses 2022: $199,457Net Income 2022: $02022Revenue 2023: $156,472Expenses 2023: $156,472Net Income 2023: $02023Revenue 2024: $194,007Expenses 2024: $194,007Net Income 2024: $02024

Highlighted filing

2018

Revenue$222,850
Expenses$127,989
Net Income$94,861
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Oct 8, 2019
Return Version
2018v3.1
Gross Receipts
$222,850
Mission and Program Overview

Mission

Fintech atlanta is a coalition of companies (from fortune 500's to startups) and other organizations working to cement atlanta as the recognized global capital of financial technology. The group's priorities are (i) to fund and fuel efforts to recruit, and (ii) retain and expand businesses and jobs across the fintech ecosystem in metro atlanta and the state of georgia.

To influence policy and industry development to cement Atlanta as the recognized global capital of financial technology.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$284,274$392,848▲ $108,574
Rtn Earn Endowment Incm Other Fnds$284,274$392,848▲ $108,574
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$284,274$392,848▲ $108,574
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$0$0→ $0
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$284,274$392,848▲ $108,574
Total Liabilities and Net Assets / Fund Balance$284,274$392,848▲ $108,574
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$222,850
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$222,850
Change in Net Assets
$94,861
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$127,989
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 Other---$85,254
Travel---$8,847
Office Expenses---$5,497
Advertising---$4,603
Fees for Services Accounting---$2,044
Insurance---$734
Other Expenses---$210
Occupancy---$200
Total Functional Expenses$0$0$0$127,989
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
FinTech Atlanta Inc
EIN
81-5146743
In Care Of
% DOUGLAS T RAY
Phone
4045868414
Address
191 Peachtree Street NE Suite 3400, Atlanta, GA 30303

Signing Officer

Name
Scott Meyerhoff
Title
Chair
Phone
4045868414
Signed
2019-10-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Scott Meyerhoff
Formed
2016
Legal Domicile
Ga
Voting Board Members
36
Independent Board Members
36
Employees
0
Volunteers
150

Preparer

Firm
Bdo USA Llp
Address
1100 Peachtree Street Suite 700, ATLANTA, GA 30309-4516
Preparer
Sandra L Feinsmith
Phone
4046886841
Supplemental Narrative

Additional Explanations

Policies -Review of Form 990

Form 990, part vi, section b policies, question 11 THE FORM 990 WAS PREPARED BY A PUBLIC ACCOUNTING FIRM WITH INPUT FROM THE Organizations's ACCOUNTING STAFF. A DRAFT COPY WAS REVIEWED BY KEY ACCOUNTING STAFF. EACH PERSON INDIVIDUALLY REVIEWED THE FORM AND CHANGES WERE SUBMITTED TO THE TAX PREPARER. THE FINAL RETURN WAS REVIEWED AND APPROVED BY THE CFO. THE FORM 990 WAS THEN SUBMITTED TO THE FINANCE COMMITTEE FOR REVIEW. THE FINAL FILED FORM 990 IS MADE AVAILABLE TO THE PUBLIC UPON REQUEST AND IS ALSO AVAILABLE ON ANOTHER WEBSITE CALLED GUIDESTAR.

Policies-Compensation

Form 990, part vi, section b policies, Questions 15A and B The organization has an executive committee that would establish the compensation of the Executive Director once one is hired. In consultation with the Executive director, the Executive committee would establish the compensation of other officers of the Corporation. At this time, the organization does not pay compensation. The board of directors serve on a volunteer basis and receive no compensation from the organization.

Disclosure

Form 990, part vi section c, question 19 if the organization's governing documents are subject to applicable federal or state public disclosure requirements, those documents will be made available as applicable law may require. Otherwise, the governing documents and financial statements will be provided to the public at the discretion of the organization's management.

Form 990 Part IX Line 11G

Description:contractor expense total fees:85254

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IRS990/Desc0FinTech Atlanta is a unique collection of companies and organizations seeking to influence policy and industry development to create the best global business climate for financial technology and commerce enabled companies. The result will establish metro Atlanta as a global talent magnet driving the high-value jobs required by todays innovation economy. To do this we have four active workgroups with more than 100 volunteers activated to help each accomplish our objects. Until August 2017, all activities have been conducted by volunteers from various companies across metro Atlanta. A project coordinator was hired in 2017 to assist with managing activities and programming; however, the majority of the work is completed by volunteers throughout the year. Talent The Talent Work Groups objective is to expand the FinTech skilled workforce to support industry growth in Atlanta. The work group accomplishes this through activities designed to leverage outbound and local recruiting missions and events; promote and facilitate internships and scholarships; and design and implement core FinTech curriculum and credentials, both at the undergraduate level and for those seeking a career transition. Fund The Fund Work Group works to enhance our FinTech innovation community through a range of focused initiatives. The group works across the ecosystem with leading corporations, investors and service providers to connect local startups and early-stage FinTech companies with the resources they need to succeed. Activities include: Innovation matchmaking programs (corporations + startups + investors), the creation of the MEDICI FinTech Atlanta Innovator portal, partnering with others for events that highlight the FinTech industry. Promote The Promote Work Group showcases and communicates Atlantas FinTech industry leadership and our superior workforce, infrastructure, innovation and business climate for growth. Volunteers on this team work to coordinate event messaging and activity in and out of Atlanta, tell our story and create opportunities for industry collaboration. Legislate The Legislate Work Group works to develop and implement public policy initiatives that support Georgia and metro Atlanta's financial technology industry and job growth. The work group aims to be a policy resource for elected officials at all levels of government; advance federal policies, state and local support for talent, and innovation and investment creation; and host legislative events.
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IRS990/Form990PartVIISectionAGrp/PersonNm0Scott Meyerhoff
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