Civic Intelligence

Lobaki Foundation

990 • Fiscal year 2021 • EIN 82-3391862

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 07, 2022

Organization ProfileN/A
736 South President St 106Jackson, MS 39201

(602) 380-1400

Siviq Scores

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

Liabilities / Assets

98th percentile

2.12x

Higher debt load relative to assets than 98% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

44th percentile

0.02x

Higher debt load relative to revenue than 44% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Net Margin

25th percentile

-1.6%

Higher net margin than 25% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

75th percentile

$65,108

Higher top officer pay than 75% of similar nonprofits.

Top officer pay equals 8.2% of source-year revenue.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Asset Growth

12th percentile

-8.8%

Faster asset growth than 12% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets98th percentile

Assets

Down

$5,726

Down $550 (-8.8%) from 2020

Net Assets

Down

-$6,404

Down $12,680 (-202%) from 2020

Liabilities

Up

$12,130

Up $12,130 from 2020

Revenue And Expenses
Liabilities / Revenue44th percentileNet Margin25th percentile

Revenue

Up

$795,808

Up $795,808 from 2020

Expenses

Up

$808,486

Up $808,140 (+233566%) from 2020

Net Income

Down

-$12,678

Down $12,332 (-3564%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth12th percentile

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

$300K$200K$100K$0-$100KAssets 2018: $266,984Liabilities 2018: $0Net Assets 2018: $266,9842018Assets 2019: $6,622Liabilities 2019: $0Net Assets 2019: $6,6222019Assets 2020: $6,276Liabilities 2020: $0Net Assets 2020: $6,2762020Assets 2021: $5,726Liabilities 2021: $12,130Net Assets 2021: -$6,4042021Assets 2022: $5,403Liabilities 2022: $12,130Net Assets 2022: -$6,7272022

Highlighted filing

2021

Assets$5,726
Liabilities$12,130
Net Assets-$6,404
Open 2021 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$1.0M$500K$0-$500KRevenue 2018: $867,567Expenses 2018: $600,583Net Income 2018: $266,9842018Revenue 2019: $347,832Expenses 2019: $608,194Net Income 2019: -$260,3622019Revenue 2020: $0Expenses 2020: $346Net Income 2020: -$3462020Revenue 2021: $795,808Expenses 2021: $808,486Net Income 2021: -$12,6782021Revenue 2022: $0Expenses 2022: $323Net Income 2022: -$3232022

Highlighted filing

2021

Revenue$795,808
Expenses$808,486
Net Income-$12,678
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 7, 2022
Return Version
2021v4.2
Gross Receipts
$795,808
Mission and Program Overview

Mission

To use virtual reality technologies to educate children in lower income regions of the country and help under-privileged children advance their knowledge. To bring awareness of xr opportunities in lower income regions of the country.

Transforming lives, industries, and realities through immersive technologies.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$4,377$3,827▼ $550
Inventories for Sale or Use$1,899$1,899→ $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
Rtn Earn Endowment Incm Other Fnds$6,276$-6,404▼ $12,680
Total Assets$6,276$5,726▼ $550
Liabilities
Accounts Payable and Accrued Expenses-$12,130-
Total Liabilities$0$12,130▲ $12,130
Net Assets / Fund Balance
Total Net Assets Fund Balance$6,276$-6,404▼ $12,680
Total Liabilities and Net Assets / Fund Balance$6,276$5,726▼ $550

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$0$63,332$63,332
Compensation and Service Providers
Top Officer Pay75th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Vincent P JordanBoard MemberPT-$65,108$65,108
Josiah JordanVice PresidentPT-$41,990$41,990
Joe DonovanBoard Member-$7,000-$7,000
Amber CoeurCEOPT-$6,538$6,538
Revenue and Support

Revenue Composition

Contributions and Grants
$795,808
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-12,678
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$801,486
Salaries, Compensation, and Employee Benefits$7,000
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$795,808--$795,808
Current Officers, Directors, Trustees, and Key Employees-$7,000-$7,000
Other Expenses$3,740--$3,740
Fees for Services Accounting-$1,250-$1,250
Office Expenses$331$357-$688
Total Functional Expenses$799,879$8,607$0$808,486
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
-TWO OFFICERS OF ORG OWN OVER 35% STOCK OF LOBAKI INC.ContractorNo$795,808
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Business relationship with 35% controlled entity
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
No
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

“Vincent jordan and josiah jordan are father and son.”

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

“The current year 990 is provided to board members for review and approval before filing.”

Form 990, Part VI, Section C, Line 18

“The forms 1023 and 990 will be made available via mail upon request.”

Form 990, Part VI, Section C, Line 19

“The documents governing the organization's conflict of interest policy and financials are made available for public inspection upon request.”

Filing and Contact Details

Filer

Filer Name
Lobaki Foundation
EIN
82-3391862
Phone
6023801400
Address
736 SOUTH PRESIDENT ST 106, JACKSON, MS 39201

Signing Officer

Name
Vincent Jordan
Title
President
Phone
6023801400
Signed
2022-11-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Vincent Jordan
Formed
2017
Legal Domicile
Ms
Voting Board Members
2
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

Firm
Granthampoole Pllc
Address
1062 HIGHLAND COLONY PKY STE 201, RIDGELAND, MS 39157
Preparer
Michael Denny CPA
Phone
6014992400
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Contractor: program service expenses 795,808. Management and general expenses 0. Fundraising expenses 0. Total expenses 795,808.”

FORM 990, PART XI, LINE 9:

“ROUNDING -2.”

FORM 990, PART XII, LINE 2C:

“No change from prior year as to 990 review and approval process.”

FORM 990, PART XII, LINE 3B:

“The organization is not sure they meet the single audit requirements and is working to determine if they should have an audit conducted.”

Raw XML Appendix353 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/MissionDesc0TO USE VIRTUAL REALITY TECHNOLOGIES TO EDUCATE CHILDREN IN LOWER INCOME REGIONS OF THE COUNTRY AND HELP UNDER-PRIVILEGED CHILDREN ADVANCE THEIR KNOWLEDGE. TO BRING AWARENESS OF XR OPPORTUNITIES IN LOWER INCOME REGIONS OF THE COUNTRY.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0VINCENT JORDAN AND JOSIAH JORDAN ARE FATHER AND SON.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CURRENT YEAR 990 IS PROVIDED TO BOARD MEMBERS FOR REVIEW AND APPROVAL BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORMS 1023 AND 990 WILL BE MADE AVAILABLE VIA MAIL UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE DOCUMENTS GOVERNING THE ORGANIZATION'S CONFLICT OF INTEREST POLICY AND FINANCIALS ARE MADE AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CONTRACTOR: PROGRAM SERVICE EXPENSES 795,808. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 795,808.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ROUNDING -2.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6NO CHANGE FROM PRIOR YEAR AS TO 990 REVIEW AND APPROVAL PROCESS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE ORGANIZATION IS NOT SURE THEY MEET THE SINGLE AUDIT REQUIREMENTS AND IS WORKING TO DETERMINE IF THEY SHOULD HAVE AN AUDIT CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XII, LINE 2C:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART XII, LINE 3B:
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt08607
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0799879
IRS990/TotalFunctionalExpensesGrp/TotalAmt0808486
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt012130
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt012130
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt06276
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-6404
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0799879
IRS990/TotalReportableCompFromOrgAmt07000
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0795808
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt06276
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt05726
IRS990/TotReportableCompRltdOrgAmt0113636
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
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IRS990/USAddress/CityNm0JACKSON
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IRS990/USAddress/ZIPCd039201
IRS990/VotingMembersGoverningBodyCnt02
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0VINCENT JORDAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum06023801400
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-11-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LOBAKI FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0LOBA
ReturnHeader/Filer/EIN0823391862
ReturnHeader/Filer/PhoneNum06023801400
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0640903390
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0GRANTHAMPOOLE PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01062 HIGHLAND COLONY PKY STE 201
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0RIDGELAND
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd039157
ReturnHeader/PreparerPersonGrp/PhoneNum06014992400
ReturnHeader/PreparerPersonGrp/PreparationDt02022-11-07
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MICHAEL DENNY CPA
ReturnHeader/ReturnTs02022-11-14T08:37:37-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0VINCENT
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0JORDAN
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,726
Liabilities
$12,130
Net assets
-$6,404
Revenue
$795,808
Expenses
$808,486
Net income
-$12,678
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Detailed filing. Detailed filing data is available for this year.$0.05$0.12$0.07$0.00$0.00$0.00
2021Detailed filing. Detailed filing data is available for this year.$0.06$0.12$0.06$7.96$8.08$0.13
2020Detailed filing. Detailed filing data is available for this year.$0.06$0.00$0.06$0.00$0.00$0.00
2019Detailed filing. Detailed filing data is available for this year.$0.07$0.00$0.07$3.48$6.08$2.60
2018Detailed filing. Detailed filing data is available for this year.$2.67$0.00$2.67$8.68$6.01$2.67