Civic Intelligence

Jakt Foundation Inc.

990 • Fiscal year 2019 • EIN 81-5319087

Jan 01, 2019 to Dec 31, 2019 • Filed on May 21, 2020

Organization ProfileWWW.JAKTFOUNDATION.ORG
PO Box 85Newman Lake, WA 99025

(509) 621-0125

Siviq Scores

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

Liabilities / Assets

80th percentile

0.12x

Higher debt load relative to assets than 80% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

62nd percentile

0.01x

Higher debt load relative to revenue than 62% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Net Margin

74th percentile

18%

Higher net margin than 74% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Top Officer Pay

77th percentile

$0

Higher top officer pay than 77% of similar nonprofits.

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

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Asset Growth

98th percentile

581%

Faster asset growth than 98% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

82nd percentile

39%

Faster revenue growth than 82% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets80th percentile

Assets

Up

$12,011

Up $10,247 (+581%) from 2018

Net Assets

Up

$10,524

Up $49,072 (+127%) from 2018

Liabilities

Down

$1,487

Down $38,825 (-96%) from 2018

Revenue And Expenses
Liabilities / Revenue62nd percentileNet Margin74th percentile

Revenue

Up

$272,252

Up $76,223 (+39%) from 2018

Expenses

Up

$223,180

Up $23,314 (+12%) from 2018

Net Income

Up

$49,072

Up $52,909 (+1379%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth98th percentile

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

$100K$50K$0-$50KAssets 2017: $2,789Liabilities 2017: $37,500Net Assets 2017: -$34,7112017Assets 2018: $1,764Liabilities 2018: $40,312Net Assets 2018: -$38,5482018Assets 2019: $12,011Liabilities 2019: $1,487Net Assets 2019: $10,5242019Assets 2020: $32,415Liabilities 2020: $1,435Net Assets 2020: $30,9802020Assets 2021: $41,675Liabilities 2021: $1,556Net Assets 2021: $40,1192021Assets 2022: $50,044Liabilities 2022: $3,422Net Assets 2022: $46,6222022Assets 2023: $22,543Liabilities 2023: $7,552Net Assets 2023: $14,9912023

Highlighted filing

2019

Assets$12,011
Liabilities$1,487
Net Assets$10,524
Open 2019 Filing

Operations Trend

Revenue Growth82nd percentile

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

$300K$200K$100K$0-$100KRevenue 2017: $156,329Expenses 2017: $191,040Net Income 2017: -$34,7112017Revenue 2018: $196,029Expenses 2018: $199,866Net Income 2018: -$3,8372018Revenue 2019: $272,252Expenses 2019: $223,180Net Income 2019: $49,0722019Revenue 2020: $87,740Expenses 2020: $67,284Net Income 2020: $20,4562020Revenue 2021: $154,223Expenses 2021: $135,410Net Income 2021: $18,8132021Revenue 2022: $260,033Expenses 2022: $253,530Net Income 2022: $6,5032022Revenue 2023: $246,124Expenses 2023: $277,755Net Income 2023: -$31,6312023

Highlighted filing

2019

Revenue$272,252
Expenses$223,180
Net Income$49,072
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
May 21, 2020
Return Version
2019v5.1
Gross Receipts
$272,252
Mission and Program Overview

Mission

The jakt foundation will hold educational and charitable events surrounding food, wine, beer, and music around the state of washington. The foundation will actively promote food, socializing, and the appreciation of culture while guests enjoy fine cuisine.

To promote cultural appreciation of food, spirits, and music in washington state.

Balance Sheet Detail
LineBeginningEndChange
Assets
Loans From Officers Directors$40,312--
Cash and Non-Interest-Bearing Accounts$1,764$12,011▲ $10,247
Rtn Earn Endowment Incm Other Fnds$-38,548$10,524▲ $49,072
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$1,764$12,011▲ $10,247
Liabilities
Accounts Payable and Accrued Expenses-$1,487-
Total Liabilities$40,312$1,487▼ $38,825
Net Assets / Fund Balance
Total Net Assets Fund Balance$-38,548$10,524▲ $49,072
Total Liabilities and Net Assets / Fund Balance$1,764$12,011▲ $10,247
Compensation and Service Providers
Top Officer Pay77th percentile

Board Members and Trustees

NameTitle
Adam HegstedPresident
Jennifer HegstedVice President
Karen L StebbinsVice President/secretary
Thomas W StebbinsVice President/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$136,983
Program Service Revenue
$135,269
Investment Income
$0
Other Revenue
$0
All Other Contributions
$17,454
Change in Net Assets
$49,072
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$202,863
Salaries, Compensation, and Employee Benefits$20,317
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Advertising$50,282--$50,282
Occupancy$25,198--$25,198
Comp Disqual Persons$13,730$6,587-$20,317
Other Expenses$16,642--$16,642
Office Expenses-$9,476-$9,476
All Other Expenses$192$2,427-$2,619
Fees for Services Accounting-$1,500-$1,500
Interest-$534-$534
Insurance$400--$400
Total Functional Expenses$202,656$20,524$0$223,180
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Katy RyderFamily Member of Board Members Tom and Karen StebbinsW-2 CompensationNo$20,317

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$40,312--
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
Yes
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 2

“Tom and karen stebbins have a family relationship. Adam and jennifer hegsted also have a family relationship.”

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

“There are no committees with broad authority to act on behalf of the board.”

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

“The form 990 and all required supporting schedules were reviewed by the board for completeness and correctness before the form was filed with the irs.”

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

“Each director and officer periodically signs a statement affirming they received a copy of the policy, understand the policy, and agree to comply. In addition, any director, principal officer, or member of a committee within the governing board must disclose the existence of a financial conflict of interest, including all material facts. After any discussion with the interested person and the governing board, the interested party shall leave the board or committee meeting while the other members vote to determine if a conflict exists. If it is decided a conflict exists the governing board or committee shall determine whether the foundation can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict. If not, the governing board or committee shall determine by a majority vote of disinterested directors whether the transaction is in the company's best interest, and whether it is fair and reasonable.”

Form 990, Part VI, Section C, Line 19

“Jakt foundation makes its form 990, governing documents and conflict of interest policy available to the public by providing copies upon request or allowing inspection at its office.”

Filing and Contact Details

Filer

Filer Name
Jakt Foundation
EIN
81-5319087
Phone
5096210125
Address
PO BOX 85, NEWMAN LAKE, WA 99025

Signing Officer

Name
Thomas W Stebbins
Title
Treasurer
Phone
5093210125
Signed
2020-05-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Adam Hegsted
Formed
2017
Legal Domicile
Wa
Voting Board Members
4
Independent Board Members
4
Employees
1
Volunteers
200

Preparer

Firm
Eide Bailly Llp
Address
999 W RIVERSIDE AVE STE 101, SPOKANE, WA 99201-1005
Preparer
Hubert Langenhorst
Phone
5097476154
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 2

“The spokane valley farmers market was added in 2019 to build collaboration between local vendors and citizens for the betterment of the community.”

Raw XML Appendix370 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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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0FAMILY MEMBER OF BOARD MEMBERS TOM AND KAREN STEBBINS
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IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0IN ACCORDANCE WITH THE CONFLICT OF INTEREST POLICY, THE BOARD MEMBERS RELATED TO KATY RYDER LEFT THE MEETING DURING THE DISCUSSION OF, AND THE VOTE ON HER COMPENSATION.
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0SCH. L, PART IV
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE SPOKANE VALLEY FARMERS MARKET WAS ADDED IN 2019 TO BUILD COLLABORATION BETWEEN LOCAL VENDORS AND CITIZENS FOR THE BETTERMENT OF THE COMMUNITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1TOM AND KAREN STEBBINS HAVE A FAMILY RELATIONSHIP. ADAM AND JENNIFER HEGSTED ALSO HAVE A FAMILY RELATIONSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THERE ARE NO COMMITTEES WITH BROAD AUTHORITY TO ACT ON BEHALF OF THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FORM 990 AND ALL REQUIRED SUPPORTING SCHEDULES WERE REVIEWED BY THE BOARD FOR COMPLETENESS AND CORRECTNESS BEFORE THE FORM WAS FILED WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4EACH DIRECTOR AND OFFICER PERIODICALLY SIGNS A STATEMENT AFFIRMING THEY RECEIVED A COPY OF THE POLICY, UNDERSTAND THE POLICY, AND AGREE TO COMPLY. IN ADDITION, ANY DIRECTOR, PRINCIPAL OFFICER, OR MEMBER OF A COMMITTEE WITHIN THE GOVERNING BOARD MUST DISCLOSE THE EXISTENCE OF A FINANCIAL CONFLICT OF INTEREST, INCLUDING ALL MATERIAL FACTS. AFTER ANY DISCUSSION WITH THE INTERESTED PERSON AND THE GOVERNING BOARD, THE INTERESTED PARTY SHALL LEAVE THE BOARD OR COMMITTEE MEETING WHILE THE OTHER MEMBERS VOTE TO DETERMINE IF A CONFLICT EXISTS. IF IT IS DECIDED A CONFLICT EXISTS THE GOVERNING BOARD OR COMMITTEE SHALL DETERMINE WHETHER THE FOUNDATION CAN OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT. IF NOT, THE GOVERNING BOARD OR COMMITTEE SHALL DETERMINE BY A MAJORITY VOTE OF DISINTERESTED DIRECTORS WHETHER THE TRANSACTION IS IN THE COMPANY'S BEST INTEREST, AND WHETHER IT IS FAIR AND REASONABLE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5JAKT FOUNDATION MAKES ITS FORM 990, GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC BY PROVIDING COPIES UPON REQUEST OR ALLOWING INSPECTION AT ITS OFFICE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART III, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 8B
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
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd01
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01764
IRS990/TotalAssetsEOYAmt012011
IRS990/TotalAssetsGrp/BOYAmt01764
IRS990/TotalAssetsGrp/EOYAmt012011
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0136983
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt020524
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0202656
IRS990/TotalFunctionalExpensesGrp/TotalAmt0223180
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt040312
IRS990/TotalLiabilitiesEOYAmt01487
IRS990/TotalLiabilitiesGrp/BOYAmt040312
IRS990/TotalLiabilitiesGrp/EOYAmt01487
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-38548
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt010524
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0202656
IRS990/TotalProgramServiceRevenueAmt0135269
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0135269
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0272252
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt0200
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01764
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt012011
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 85
IRS990/USAddress/CityNm0NEWMAN LAKE
IRS990/USAddress/StateAbbreviationCd0WA
IRS990/USAddress/ZIPCd099025
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0WWW.JAKTFOUNDATION.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0THOMAS W STEBBINS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum05093210125
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-05-21
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0JAKT FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0JAKT
ReturnHeader/Filer/EIN0815319087
ReturnHeader/Filer/PhoneNum05096210125
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 85
ReturnHeader/Filer/USAddress/CityNm0NEWMAN LAKE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0WA
ReturnHeader/Filer/USAddress/ZIPCd099025
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId07BE02B128085A53816859D0B0E97851F17F3EADD
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0671EBB11CBFBC2357CF8E5B52C60B358F0A72DE4
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0216.147.181.44
ReturnHeader/FilingSecurityInformation/IPDt02020-05-21
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0PD
ReturnHeader/FilingSecurityInformation/IPTm008:36:51
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0450250958
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0EIDE BAILLY LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0999 W RIVERSIDE AVE STE 101
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SPOKANE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0WA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0992011005
ReturnHeader/PreparerPersonGrp/PhoneNum05097476154
ReturnHeader/PreparerPersonGrp/PreparationDt02020-05-20
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0HUBERT LANGENHORST
ReturnHeader/ReturnTs02020-06-18T14:01:26-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$12,011
Liabilities
$1,487
Net assets
$10,524
Revenue
$272,252
Expenses
$223,180
Net income
$49,072
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$0.23$0.08$0.15$2.46$2.78$0.32
2022Detailed filing. Detailed filing data is available for this year.$0.50$0.03$0.47$2.60$2.54$0.07
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.42$0.02$0.40$1.54$1.35$0.19
2020Detailed filing. Detailed filing data is available for this year.$0.32$0.01$0.31$0.88$0.67$0.20
2019Detailed filing. Detailed filing data is available for this year.$0.12$0.01$0.11$2.72$2.23$0.49
2018Detailed filing. Detailed filing data is available for this year.$0.02$0.40$0.39$1.96$2.00$0.04
2017Detailed filing. Detailed filing data is available for this year.$0.03$0.38$0.35$1.56$1.91$0.35