Civic Intelligence

Brit Foundation

990 • Fiscal year 2019 • EIN 82-3290786

Jan 01, 2019 to Dec 31, 2019 • Filed on Oct 30, 2020

Organization ProfileWWW.BRIT.ORG
1700 University DriveFort Worth, TX 76107

(817) 332-4441

Siviq Scores

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

Liabilities / Assets

5th percentile

0.00x

Higher debt load relative to assets than 5% of similar nonprofits.

2019 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2019

Liabilities / Revenue

7th percentile

0.02x

Higher debt load relative to revenue than 7% of similar nonprofits.

2019 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2019

Net Margin

94th percentile

58%

Higher net margin than 94% of similar nonprofits.

2019 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2019

Top Officer Pay

5th percentile

$0

Higher top officer pay than 5% of similar nonprofits.

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

2019 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2019

Asset Growth

72nd percentile

12%

Faster asset growth than 72% of similar nonprofits.

2019 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2018 to 2019

Revenue Growth

99th percentile

549%

Faster revenue growth than 99% of similar nonprofits.

2019 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets5th percentile

Assets

Up

$62,814,798

Up $6,798,758 (+12%) from 2018

Net Assets

Up

$62,686,448

Up $6,670,408 (+12%) from 2018

Liabilities

Up

$128,350

Up $128,350 from 2018

Revenue And Expenses
Liabilities / Revenue7th percentileNet Margin94th percentile

Revenue

Up

$6,648,712

Up $5,624,583 (+549%) from 2018

Expenses

Up

$2,822,131

Up $2,755,412 (+4130%) from 2018

Net Income

Up

$3,826,581

Up $2,869,171 (+300%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth72nd percentile

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

$80M$60M$40M$20M$0Assets 2018: $56,016,040Liabilities 2018: $0Net Assets 2018: $56,016,0402018Assets 2019: $62,814,798Liabilities 2019: $128,350Net Assets 2019: $62,686,4482019Assets 2020: $69,164,126Liabilities 2020: $0Net Assets 2020: $69,164,1262020Assets 2021: $76,870,133Liabilities 2021: $0Net Assets 2021: $76,870,1332021Assets 2022: $65,331,909Liabilities 2022: $0Net Assets 2022: $65,331,9092022Assets 2023: $71,409,854Liabilities 2023: $0Net Assets 2023: $71,409,8542023Assets 2024: $76,559,962Liabilities 2024: $0Net Assets 2024: $76,559,9622024

Highlighted filing

2019

Assets$62,814,798
Liabilities$128,350
Net Assets$62,686,448
Open 2019 Filing

Operations Trend

Revenue Growth99th percentile

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

$10M$5.0M$0-$5.0MRevenue 2018: $1,024,129Expenses 2018: $66,719Net Income 2018: $957,4102018Revenue 2019: $6,648,712Expenses 2019: $2,822,131Net Income 2019: $3,826,5812019Revenue 2020: $2,715,291Expenses 2020: $2,611,665Net Income 2020: $103,6262020Revenue 2021: $530,717Expenses 2021: $2,888,941Net Income 2021: -$2,358,2242021Revenue 2022: $54,640Expenses 2022: $2,495,547Net Income 2022: -$2,440,9072022Revenue 2023: $146,017Expenses 2023: $2,863,179Net Income 2023: -$2,717,1622023Revenue 2024: $381,285Expenses 2024: $2,805,936Net Income 2024: -$2,424,6512024

Highlighted filing

2019

Revenue$6,648,712
Expenses$2,822,131
Net Income$3,826,581
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Oct 30, 2020
Return Version
2019v5.1
Gross Receipts
$35,522,711
Mission and Program Overview

Mission

The foundation holds and maintains the long-term investments on behalf of a 501(c)(3) entity, botanical research institute of texas. Foundation is a supporting entity of the botanical research institute of texas under irc section 509(a)(1).

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$49,479,800$59,910,044▲ $10,430,244
Investments in Publicly Traded Securities$5,704,912$1,231,860▼ $4,473,052
Cash and Non-Interest-Bearing Accounts$191,561$920,194▲ $728,633
Pledges and Grants Receivable$613,400$752,700▲ $139,300
Intangible Assets$23,464$0▼ $23,464
Prepaid Expenses and Deferred Charges$2,903$0▼ $2,903
Total Assets$56,016,040$62,814,798▲ $6,798,758
Liabilities
Grants Payable-$128,350-
Total Liabilities$0$128,350▲ $128,350
Net Assets / Fund Balance
Net Assets With Donor Restrictions$56,016,040$62,686,448▲ $6,670,408
Total Net Assets Fund Balance$56,016,040$62,686,448▲ $6,670,408
Total Liabilities and Net Assets / Fund Balance$56,016,040$62,814,798▲ $6,798,758

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$59,910,044--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$56,496,295$1,883,458▲ $7,609,081$2,652,369$63,166,703
2018-$61,975,651▼ $3,252,604$2,226,752$56,496,295
Compensation and Service Providers
Top Officer Pay5th percentile

Board Members and Trustees

NameTitle
Mr Brad BourlandPresident
Mr Alfred J LockwoodMember, Board of Directors
Mr David H DiesslinMember, Board of Directors
Mr Edward P BassMember, Board of Directors
Ms Mary M MatrangaMember, Board of Directors
Ms Keri BarfieldInterim Treasurer
Ms Jane SchoomakerSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$1,883,458
Program Service Revenue
$0
Investment Income
$4,765,254
Other Revenue
$0
All Other Contributions
$1,883,458
Change in Net Assets
$3,826,581

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,648,712
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$2,720,808
Total Revenue per Audited Statements
$9,369,520
Total Revenue per Form 990
$6,648,712
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$2,652,369
Other Expenses$169,762
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$2,652,369--$2,652,369
Fees for Service Investment Mgmnt Fees$123,019--$123,019
All Other Expenses-$22,668-$22,668
Fees for Services Accounting-$13,500-$13,500
Insurance-$3,870-$3,870
Depreciation Depletion-$3,699-$3,699
Fees for Services Legal-$3,006-$3,006
Total Functional Expenses$2,775,388$46,743$0$2,822,131

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$2,822,131
Expenses per Audited Statements$2,699,112
Total Expenses per Audited Statements$2,699,112
Expenses Not Reported on Financial Statements$123,019
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Botanical Research Institute of TexasFort Worth, TX-Brit Foundation Is a Support Organization of Botanical Research Institute of Texas and Holds Investments for the Direct Benefit of Botanical Research Institute of Texas.$2,652,369
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
Backup withholding compliance
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“Brit foundation's form 990 and supporting schedules are reviewed in detail and approved by the board of trustees.”

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

“Brit foundation annually reviews conflict of interest policy with all directors and officers. All are required to complete a statement either affirming no potential conflicts exist or detailing potential conflicts and the latter are all investigated and appropriate action taken.”

Form 990, Part VI, Section C, Line 19

“The organization's financial statements as well as its governing documents are available to the public during regular business hours at the organization's office.”

Filing and Contact Details

Filer

Filer Name
Brit Foundation
EIN
82-3290786
Phone
8173324441
Address
1700 UNIVERSITY DRIVE, FORT WORTH, TX 76107

Signing Officer

Name
Brad Bourland
Title
Board President
Phone
8173324441
Signed
2020-10-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brad Bourland
Formed
2017
Legal Domicile
TX
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
0

Preparer

Firm
Sproles Woodard Llp
Address
777 MAIN STREET SUITE 3250, FORT WORTH, TX 76102-5304
Preparer
John Vincent Davila
Phone
8173321328
Supplemental Narrative

Financial Statement Notes

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Investment expenses -123,019.”

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IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt063166703
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt07609081
IRS990ScheduleD/CYEndwmtFundGrp/OtherExpendituresAmt02652369
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt061975651
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt056496295
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-3252604
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/OtherExpendituresAmt02226752
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0123019
IRS990ScheduleD/ExpensesSubtotalAmt02699112
IRS990ScheduleD/InvestmentExpensesNotIncld2Amt0123019
IRS990ScheduleD/NetUnrealizedGainsInvstAmt02843827
IRS990ScheduleD/OtherRevenueAmt0-123019
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt059910044
IRS990ScheduleD/OtherSecuritiesGrp/Desc0LONG TERM ASSETS
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0F
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct00.90000
IRS990ScheduleD/RevenueNotReportedAmt02720808
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt06648712
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0INVESTMENT EXPENSES -123,019.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TermEndowmentBalanceEOYPct00.10000
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueSecuritiesAmt059910044
IRS990ScheduleD/TotalExpensesPerForm990Amt02822131
IRS990ScheduleD/TotalRevenuePerForm990Amt06648712
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt09369520
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02699112
IRS990ScheduleI/GrantRecordsMaintainedInd00
IRS990ScheduleI/RecipientTable/CashGrantAmt02652369
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0BRIT FOUNDATION IS A SUPPORT ORGANIZATION OF BOTANICAL RESEARCH INSTITUTE OF TEXAS AND HOLDS INVESTMENTS FOR THE DIRECT BENEFIT OF BOTANICAL RESEARCH INSTITUTE OF TEXAS.
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0BOTANICAL RESEARCH INSTITUTE OF TEXAS
IRS990ScheduleI/RecipientTable/RecipientEIN0752198196
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt01700 UNIVERSITY DRIVE
IRS990ScheduleI/RecipientTable/USAddress/CityNm0FORT WORTH
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0TX
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd076107
IRS990ScheduleI/Total501c3OrgCnt01
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0BRIT FOUNDATION'S FORM 990 AND SUPPORTING SCHEDULES ARE REVIEWED IN DETAIL AND APPROVED BY THE BOARD OF TRUSTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BRIT FOUNDATION ANNUALLY REVIEWS CONFLICT OF INTEREST POLICY WITH ALL DIRECTORS AND OFFICERS. ALL ARE REQUIRED TO COMPLETE A STATEMENT EITHER AFFIRMING NO POTENTIAL CONFLICTS EXIST OR DETAILING POTENTIAL CONFLICTS AND THE LATTER ARE ALL INVESTIGATED AND APPROPRIATE ACTION TAKEN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S FINANCIAL STATEMENTS AS WELL AS ITS GOVERNING DOCUMENTS ARE AVAILABLE TO THE PUBLIC DURING REGULAR BUSINESS HOURS AT THE ORGANIZATION'S OFFICE.
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
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd01
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0BOTANICAL RESEARCH INSTITUTE OF TEXAS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0752198196
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0TX
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0CONDUCT RESEARCH AND PROVIDE EDUCATION TO PUBLIC FOR A SUSTAINABLE PLANET
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 7
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt01700 UNIVERSITY DRIVE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0FORT WORTH
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0TX
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd076107
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt02652369
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0FAIR MARKET VALUE
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0BOTANICAL RESEARCH INSTITUTE OF TEXAS
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0S
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt056016040
IRS990/TotalAssetsEOYAmt062814798
IRS990/TotalAssetsGrp/BOYAmt056016040
IRS990/TotalAssetsGrp/EOYAmt062814798
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt01883458
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt046743
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02775388
IRS990/TotalFunctionalExpensesGrp/TotalAmt02822131
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt0128350
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt0128350
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt056016040
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt062686448
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt02775388
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt04765254
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt06648712
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt056016040
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt062814798
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01700 UNIVERSITY DRIVE
IRS990/USAddress/CityNm0FORT WORTH
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd076107
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0WWW.BRIT.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02021-01-29 14:40:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0BRAD BOURLAND
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0BOARD PRESIDENT

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$62,814,798
Liabilities
$128,350
Net assets
$62,686,448
Revenue
$6,648,712
Expenses
$2,822,131
Net income
$3,826,581
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$76.6$0.00$76.6$0.38$2.81$2.42
2023Detailed filing. Detailed filing data is available for this year.$71.4$0.00$71.4$0.15$2.86$2.72
2022Detailed filing. Detailed filing data is available for this year.$65.3$0.00$65.3$0.05$2.50$2.44
2021Detailed filing. Detailed filing data is available for this year.$76.9$0.00$76.9$0.53$2.89$2.36
2020Detailed filing. Detailed filing data is available for this year.$69.2$0.00$69.2$2.72$2.61$0.10
2019Detailed filing. Detailed filing data is available for this year.$62.8$0.13$62.7$6.65$2.82$3.83
2018Detailed filing. Detailed filing data is available for this year.$56.0$0.00$56.0$1.02$0.07$0.96