Civic Intelligence

Raps Institute

990 • Fiscal year 2023 • EIN 82-0721560

Jan 01, 2023 to Dec 31, 2023 • Filed on Aug 21, 2024

Organization ProfileWWW.RAPS.ORG
5635 Fishers Lane 400Rockville, MD 20852

(301) 770-2920

Siviq Scores

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

Liabilities / Assets

85th percentile

0.51x

Higher debt load relative to assets than 85% of similar nonprofits.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

95th percentile

1.07x

Higher debt load relative to revenue than 95% of similar nonprofits.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2023

Net Margin

79th percentile

17%

Higher net margin than 79% of similar nonprofits.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

94th percentile

$389,881

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 47.8% of source-year revenue.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2023

Asset Growth

96th percentile

66%

Faster asset growth than 96% of similar nonprofits.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

57th percentile

11%

Faster revenue growth than 57% of similar nonprofits.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets85th percentile

Assets

Up

$1,732,102

Up $690,732 (+66%) from 2022

Net Assets

Up

$855,734

Up $136,336 (+19%) from 2022

Liabilities

Up

$876,368

Up $554,396 (+172%) from 2022

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin79th percentile

Revenue

Up

$815,549

Up $80,015 (+11%) from 2022

Expenses

Up

$679,213

Up $74,585 (+12%) from 2022

Net Income

Up

$136,336

Up $5,430 (+4.1%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth96th percentile

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

$6.0M$4.0M$2.0M$0Assets 2016: $1Liabilities 2016: $02016Assets 2017: $61,881Liabilities 2017: $47,612Net Assets 2017: $14,2692017Assets 2018: $184,028Liabilities 2018: $0Net Assets 2018: $184,0282018Assets 2019: $457,487Liabilities 2019: $0Net Assets 2019: $457,4872019Assets 2020: $1,648,716Liabilities 2020: $0Net Assets 2020: $1,648,7162020Assets 2021: $3,034,810Liabilities 2021: $1,198,459Net Assets 2021: $1,836,3512021Assets 2022: $1,041,370Liabilities 2022: $321,972Net Assets 2022: $719,3982022Assets 2023: $1,732,102Liabilities 2023: $876,368Net Assets 2023: $855,7342023Assets 2024: $4,004,072Liabilities 2024: $3,176,179Net Assets 2024: $827,8932024

Highlighted filing

2023

Assets$1,732,102
Liabilities$876,368
Net Assets$855,734
Open 2023 Filing

Operations Trend

Revenue Growth57th percentile

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

$1.0M$500K$0-$500KRevenue 2016: $0Expenses 2016: $0Net Income 2016: $02016Revenue 2017: $612,362Expenses 2017: $598,093Net Income 2017: $14,2692017Revenue 2018: $703,298Expenses 2018: $533,539Net Income 2018: $169,7592018Revenue 2019: $973,704Expenses 2019: $700,289Net Income 2019: $273,4152019Revenue 2020: $690,153Expenses 2020: $273,388Net Income 2020: $416,7652020Revenue 2021: $759,393Expenses 2021: $580,818Net Income 2021: $178,5752021Revenue 2022: $735,534Expenses 2022: $604,628Net Income 2022: $130,9062022Revenue 2023: $815,549Expenses 2023: $679,213Net Income 2023: $136,3362023Revenue 2024: $856,116Expenses 2024: $885,043Net Income 2024: -$28,9272024

Highlighted filing

2023

Revenue$815,549
Expenses$679,213
Net Income$136,336
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Aug 21, 2024
Return Version
2023v5.1
Gross Receipts
$815,549
Mission and Program Overview

Mission

To promote the advancement of the regulatory affairs profession and the profession's role in the development, review, registration, and monitoring of health care products.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$139,586$139,586→ $0
Accounts Receivable$495$1,832▲ $1,337
Total Assets$1,041,370$1,732,102▲ $690,732
Other Assets Total$901,289$1,590,684▲ $689,395
Liabilities
Other Liabilities$187,671$504,854▲ $317,183
Deferred Revenue$123,464$363,879▲ $240,415
Accounts Payable and Accrued Expenses$10,837$7,635▼ $3,202
Total Liabilities$321,972$876,368▲ $554,396
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$719,398$855,734▲ $136,336
Total Net Assets Fund Balance$719,398$855,734▲ $136,336
Total Liabilities and Net Assets / Fund Balance$1,041,370$1,732,102▲ $690,732

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$1,590,684--
Compensation and Service Providers
Top Officer Pay94th percentile

Board Members and Trustees

NameTitle
Linda BowenPresident
Ayse BakerDirector
Brian SchlagDirector
David ChadwickDirector
Gert BosDIrector
Jennifer PaineDirector
Tom HutchinsonDirector
William J McMoilExecutive Director
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$814,011
Investment Income
$0
Other Revenue
$1,538
Change in Net Assets
$136,336
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$429,644
Salaries, Compensation, and Employee Benefits$249,569
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$209,856
Fees for Services Other---$129,706
Advertising---$58,080
Travel---$40,282
Fees for Services Legal---$18,336
Other Employee Benefits---$16,443
Conferences and Meetings---$16,027
Payroll Taxes---$15,121
Pension Plan Contributions---$8,149
Information Technology---$3,029
Other Expenses---$1,150
All Other Expenses---$1,030
Occupancy---$990
Office Expenses---$784
Total Functional Expenses$0$0$0$679,213
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Subsidiary$497,683
Due to RAPS EU$7,171
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
No
Other officer compensation reviewed
No
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

“A copy of the audited financial statements is provided to the board of directors and Form 990 is provided to the VP Finance, IT & Operations for review prior to filing.”

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

“The conflict of interest applies to board members, employees, and volunteers. Each board member is required to complete a conflict of interest and to disclose any potential conflict. Individuals are required to disclose any potential conflict. The board of directors will determine the extent of the conflict and proceed according to the RAPS policy guidance. This is reviewed annually.”

Form 990, Part VI, Section C, line 19

“Governing documents, conflict of interest policy, and financial statements are made available upon request.”

Filing and Contact Details

Filer

Filer Name
RAPS Institute
EIN
82-0721560
Phone
3017702920
Address
5635 Fishers Lane 400, Rockville, MD 20852

Signing Officer

Name
William McMoil
Title
Executive Director
Phone
3017702920
Signed
2024-08-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
William McMoil
Formed
2016
Legal Domicile
Dc
Voting Board Members
8
Independent Board Members
7
Employees
0
Volunteers
0

Preparer

Firm
Aprio LLP
Address
111 Rockville Pike Suite 600, Rockville, MD 20850
Preparer
Stacy Cullen
Phone
3012316200
Supplemental Narrative

Additional Explanations

Form 990, Part IX, line 11G

“Other Professional Services: Program service expenses 0. Management and general expenses 0. Fundraising expenses 129,706. Total expenses 129,706.”

Financial Statement Notes

Part X, Line 2:

“The Organization evaluates uncertainty in income tax positions taken or expected to be taken on a tax return based on a more likely than not recognition standard. If that threshold is met, the tax position is then measured at the largest amount that is greater than 50% likely of being realized upon ultimate settlement and is recognized in the Organization's consolidated financial statements. As of December 31, 2023 and 2022, there are no accruals for uncertain tax positions. Tax years from 2020 through the current year remain open for examination by federal and state tax authorities.”

Raw XML Appendix384 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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IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A copy of the audited financial statements is provided to the board of directors and Form 990 is provided to the VP Finance, IT & Operations for review prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The conflict of interest applies to board members, employees, and volunteers. Each board member is required to complete a conflict of interest and to disclose any potential conflict. Individuals are required to disclose any potential conflict. The board of directors will determine the extent of the conflict and proceed according to the RAPS policy guidance. This is reviewed annually.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Governing documents, conflict of interest policy, and financial statements are made available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Other Professional Services: Program service expenses 0. Management and general expenses 0. Fundraising expenses 129,706. Total expenses 129,706.
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 C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part IX, line 11g
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IRS990ScheduleR/AssetSaleToOtherOrgInd00
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IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
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IRS990/TotalLiabilitiesGrp/EOYAmt0876368
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IRS990/USAddress/ZIPCd020852
IRS990/VotingMembersGoverningBodyCnt08
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IRS990/WebsiteAddressTxt0HTTPS://WWW.RAPS.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02024-08-08 14:25:15Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0William McMoil
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Director
ReturnHeader/BusinessOfficerGrp/PhoneNum03017702920
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-08-21
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Aprio LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0111 Rockville Pike Suite 600
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Rockville
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd020850
ReturnHeader/PreparerPersonGrp/PhoneNum03012316200
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Stacy Cullen
ReturnHeader/ReturnTs02024-08-23T12:22:50-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,732,102
Liabilities
$876,368
Net assets
$855,734
Revenue
$815,549
Expenses
$679,213
Net income
$136,336
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.00$3.18$0.83$0.86$0.89$0.03
2023Detailed filing. Detailed filing data is available for this year.$1.73$0.88$0.86$0.82$0.68$0.14
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.04$0.32$0.72$0.74$0.60$0.13
2021Detailed filing. Detailed filing data is available for this year.$3.03$1.20$1.84$0.76$0.58$0.18
2020Detailed filing. Detailed filing data is available for this year.$1.65$0.00$1.65$0.69$0.27$0.42
2019Detailed filing. Detailed filing data is available for this year.$0.46$0.00$0.46$0.97$0.70$0.27
2018Detailed filing. Detailed filing data is available for this year.$0.18$0.00$0.18$0.70$0.53$0.17
2017Detailed filing. Detailed filing data is available for this year.$0.06$0.05$0.01$0.61$0.60$0.01
2016Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.00