Civic Intelligence

Idea Works Inc

990 • Fiscal year 2020 • EIN 82-3865130

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 12, 2021

Organization Profilewww.ideaworksohio.com
40 West 4th StreetMansfield, OH 44902

(419) 610-2100

Siviq Scores

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

Liabilities / Assets

86th percentile

0.38x

Higher debt load relative to assets than 86% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

71st percentile

0.05x

Higher debt load relative to revenue than 71% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

29th percentile

-8.6%

Higher net margin than 29% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

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

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Asset Growth

12th percentile

-36%

Faster asset growth than 12% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

41st percentile

-24%

Faster revenue growth than 41% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets86th percentile

Assets

Down

$23,455

Down $13,226 (-36%) from 2019

Net Assets

Down

$14,561

Down $15,697 (-52%) from 2019

Liabilities

Up

$8,894

Up $2,471 (+38%) from 2019

Revenue And Expenses
Liabilities / Revenue71st percentileNet Margin29th percentile

Revenue

Down

$182,724

Down $57,925 (-24%) from 2019

Expenses

Down

$198,421

Down $14,418 (-6.8%) from 2019

Net Income

Down

-$15,697

Down $43,507 (-156%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth12th percentile

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

$150K$100K$50K$0Assets 2018: $37,971Liabilities 2018: $35,523Net Assets 2018: $2,4482018Assets 2019: $36,681Liabilities 2019: $6,423Net Assets 2019: $30,2582019Assets 2020: $23,455Liabilities 2020: $8,894Net Assets 2020: $14,5612020Assets 2021: $52,439Liabilities 2021: $9,720Net Assets 2021: $42,7192021Assets 2022: $132,702Liabilities 2022: $4,826Net Assets 2022: $127,8762022Assets 2023: $61,501Liabilities 2023: $5,673Net Assets 2023: $55,8282023Assets 2024: $57,006Liabilities 2024: $6,334Net Assets 2024: $50,6722024

Highlighted filing

2020

Assets$23,455
Liabilities$8,894
Net Assets$14,561
Open 2020 Filing

Operations Trend

Revenue Growth41st percentile

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

$400K$200K$0-$200KRevenue 2018: $169,150Expenses 2018: $167,046Net Income 2018: $2,1042018Revenue 2019: $240,649Expenses 2019: $212,839Net Income 2019: $27,8102019Revenue 2020: $182,724Expenses 2020: $198,421Net Income 2020: -$15,6972020Revenue 2021: $285,245Expenses 2021: $257,087Net Income 2021: $28,1582021Revenue 2022: $355,897Expenses 2022: $270,740Net Income 2022: $85,1572022Revenue 2023: $171,636Expenses 2023: $243,684Net Income 2023: -$72,0482023Revenue 2024: $188,368Expenses 2024: $193,524Net Income 2024: -$5,1562024

Highlighted filing

2020

Revenue$182,724
Expenses$198,421
Net Income-$15,697
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 12, 2021
Return Version
2020v4.0
Gross Receipts
$182,724
Mission and Program Overview

Mission

To provide education, resources, mentorship, and a shared community to aspiring entrepreneurs of all ages; and to become a critical center of gravity for entrepreneurial development, and in turn, help businesses start, develop, and thrive.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$26,758$15,701▼ $11,057
Rtn Earn Endowment Incm Other Fnds$30,258$14,561▼ $15,697
Accounts Receivable$5,175$4,905▼ $270
Land, Buildings, and Equipment, Net$4,748$2,849▼ $1,899
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$36,681$23,455▼ $13,226
Other Assets Total-$0-
Liabilities
Other Liabilities$858$8,405▲ $7,547
Accounts Payable and Accrued Expenses$5,565$489▼ $5,076
Total Liabilities$6,423$8,894▲ $2,471
Net Assets / Fund Balance
Total Net Assets Fund Balance$30,258$14,561▼ $15,697
Total Liabilities and Net Assets / Fund Balance$36,681$23,455▼ $13,226

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$2,849$3,086$5,935
Compensation and Service Providers
Top Officer Pay76th percentile

Board Members and Trustees

NameTitle
Carlton FernyakPresident & CEO
Annamarie FernyakVice President
Barb LindsayDirector
Walt BonhamDirector
Jay AllredSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$142,276
Program Service Revenue
$39,681
Investment Income
$4
Other Revenue
$763
All Other Contributions
$142,276
Change in Net Assets
$-15,697
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$150,488
Salaries, Compensation, and Employee Benefits$47,933
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$74,482$50,285-$124,767
Other Salaries and Wages$39,122$5,280-$44,402
Office Expenses$4,689$903-$5,592
Fees for Services Accounting-$4,020-$4,020
Payroll Taxes$2,993$538-$3,531
Depreciation Depletion$1,899--$1,899
Fees for Services Other-$1,500-$1,500
Advertising$705--$705
Information Technology$695--$695
Other Expenses$503$50-$553
All Other Expenses$325$167-$492
Travel$100--$100
Total Functional Expenses$135,678$62,743$0$198,421
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
-Owned by OfficerShared Adm ExpensesNo$62,856
-Owned by OfficerRentNo$44,070

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
SBA PPP Loan$6,985
Payroll Taxes Payable$1,420
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
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
Yes

Governance Explanations

Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et

“Carl and annamarie fernyak are both board members and are husband and wife. Carl is 100% owner of media works holdings,llc, the company that provides management services to idea works. Carl and annamarie are co owners of carrousel properties, from who idea works rents its offices,jay allred is a paid employee of media works holdings, llc.”

Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company

“Management duties are performed by media works holdings, llc. Officer and board member carl fernyak owns 100% of this company. Jay allred, officer and board member is a paid employee of this company.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“PRESIDENT REVIEWS”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“UPON REQUEST”

Filing and Contact Details

Filer

Filer Name
Idea Works Inc
EIN
82-3865130
Phone
4196102100
Address
40 WEST 4TH STREET, MANSFIELD, OH 44902

Signing Officer

Name
Carlton Fernyak
Title
President & CEO
Signed
2021-11-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Carlton Fernyak
Formed
2017
Legal Domicile
Oh
Voting Board Members
5
Independent Board Members
0
Employees
2

Preparer

Firm
WOB Accountants and Advisors
Address
2200 Stumbo Road, Ontario, OH 44906
Preparer
James L Henry
Phone
4195295500
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0110000
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0433437
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt04
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt06
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt010
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt039681
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt059482
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt059150
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0158313
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt04
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt06
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt010
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt0763
IRS990ScheduleA/OtherIncome509Grp/TotalAmt0763
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.00000
IRS990ScheduleA/PublicSupportTotal509Amt0591750
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt00
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0181957
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0240643
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0169150
IRS990ScheduleA/Total509Grp/TotalAmt0591750
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0182724
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0240649
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0169150
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0592523
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/EquipmentGrp/BookValueAmt02849
IRS990ScheduleD/EquipmentGrp/DepreciationAmt03086
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt05935
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01420
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt16985
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Payroll Taxes Payable
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1SBA PPP Loan
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02849
IRS990ScheduleD/TotalLiabilityAmt08405
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0CARROUSEL PROPERTIES LLC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt1MEDIA WORKS HOLDINGS LLC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0OWNED BY OFFICER
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt1OWNED BY OFFICER
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd1false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt044070
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt162856
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0RENT
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc1SHARED ADM EXPENSES
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0CARL AND ANNAMARIE FERNYAK ARE BOTH BOARD MEMBERS AND ARE HUSBAND AND WIFE. CARL IS 100% OWNER OF MEDIA WORKS HOLDINGS,LLC, THE COMPANY THAT PROVIDES MANAGEMENT SERVICES TO IDEA WORKS. CARL AND ANNAMARIE ARE CO OWNERS OF CARROUSEL PROPERTIES, FROM WHO IDEA WORKS RENTS ITS OFFICES,JAY ALLRED IS A PAID EMPLOYEE OF MEDIA WORKS HOLDINGS, LLC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MANAGEMENT DUTIES ARE PERFORMED BY MEDIA WORKS HOLDINGS, LLC. OFFICER AND BOARD MEMBER CARL FERNYAK OWNS 100% OF THIS COMPANY. JAY ALLRED, OFFICER AND BOARD MEMBER IS A PAID EMPLOYEE OF THIS COMPANY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2PRESIDENT REVIEWS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN0461736609
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0S CORP
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0OH
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0ONLINE NEWSPAPER/ADV
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0MEDIA WORKS HOLDINGS LLC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt040 W FOURTH STREET
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0MANSFIELD
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd0OH
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd044902
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd0false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/EIN0474400136
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/GeneralOrManagingPartnerInd0false
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/LegalDomicileStateCd0OH
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PrimaryActivitiesTxt0REAL ESTATE RENTAL
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine1Txt0CARROUSEL PROPERTIES LLC
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/AddressLine1Txt040 W FOURTH STREET
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/CityNm0MANSFIELD
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/StateAbbreviationCd0OH
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/ZIPCd044902
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0true
IRS990ScheduleR/SharingOfFacilitiesInd0true
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt044070
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt162856
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0LEASE
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1AMOUNTS BILLED
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0CARROUSEL PROPERTIES LLC
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1MEDIA WORKS HOLDINGS LLC
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0k
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1n
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$23,455
Liabilities
$8,894
Net assets
$14,561
Revenue
$182,724
Expenses
$198,421
Net income
-$15,697
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.57$0.06$0.51$1.88$1.94$0.05
2023Detailed filing. Detailed filing data is available for this year.$0.62$0.06$0.56$1.72$2.44$0.72
2022Detailed filing. Detailed filing data is available for this year.$1.33$0.05$1.28$3.56$2.71$0.85
2021Detailed filing. Detailed filing data is available for this year.$0.52$0.10$0.43$2.85$2.57$0.28
2020Detailed filing. Detailed filing data is available for this year.$0.23$0.09$0.15$1.83$1.98$0.16
2019Detailed filing. Detailed filing data is available for this year.$0.37$0.06$0.30$2.41$2.13$0.28
2018Detailed filing. Detailed filing data is available for this year.$0.38$0.36$0.02$1.69$1.67$0.02