Civic Intelligence

Idea Works Inc

990 • Fiscal year 2022 • EIN 82-3865130

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 14, 2023

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

73rd percentile

0.04x

Higher debt load relative to assets than 73% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

68th percentile

0.01x

Higher debt load relative to revenue than 68% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Net Margin

74th percentile

24%

Higher net margin than 74% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Top Officer Pay

78th percentile

$0

Higher top officer pay than 78% of similar nonprofits.

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

2022 filings • 501(c)3 • <$500k nonprofits • Source year 2022

Asset Growth

94th percentile

153%

Faster asset growth than 94% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

62nd percentile

25%

Faster revenue growth than 62% of similar nonprofits.

2022 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets73rd percentile

Assets

Up

$132,702

Up $80,263 (+153%) from 2021

Net Assets

Up

$127,876

Up $85,157 (+199%) from 2021

Liabilities

Down

$4,826

Down $4,894 (-50%) from 2021

Revenue And Expenses
Liabilities / Revenue68th percentileNet Margin74th percentile

Revenue

Up

$355,897

Up $70,652 (+25%) from 2021

Expenses

Up

$270,740

Up $13,653 (+5.3%) from 2021

Net Income

Up

$85,157

Up $56,999 (+202%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth94th 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

2022

Assets$132,702
Liabilities$4,826
Net Assets$127,876
Open 2022 Filing

Operations Trend

Revenue Growth62nd 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

2022

Revenue$355,897
Expenses$270,740
Net Income$85,157
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 14, 2023
Return Version
2022v5.0
Gross Receipts
$355,897
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
Rtn Earn Endowment Incm Other Fnds$42,719$127,876▲ $85,157
Cash and Non-Interest-Bearing Accounts$15,088$72,704▲ $57,616
Land, Buildings, and Equipment, Net$18,873$57,692▲ $38,819
Pledges and Grants Receivable$13,440$0▼ $13,440
Accounts Receivable$5,038$2,306▼ $2,732
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$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$52,439$132,702▲ $80,263
Other Assets Total-$0-
Liabilities
Other Liabilities$2,106$3,261▲ $1,155
Accounts Payable and Accrued Expenses$7,614$1,565▼ $6,049
Total Liabilities$9,720$4,826▼ $4,894
Net Assets / Fund Balance
Total Net Assets Fund Balance$42,719$127,876▲ $85,157
Total Liabilities and Net Assets / Fund Balance$52,439$132,702▲ $80,263

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$53,010$1,593$54,603
Equipment$4,682$5,672$10,354
Compensation and Service Providers
Top Officer Pay78th percentile

Board Members and Trustees

NameTitle
Carlton FernyakPresident & CEO
Annamarie FernyakVice President
Barb LindsayDirector
Donnie ClarkDirector
Edward P AkinyemiDirector
Walt BonhamDirector
Jay AllredSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$214,285
Program Service Revenue
$140,963
Investment Income
$649
Other Revenue
$0
All Other Contributions
$207,250
Change in Net Assets
$85,157
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$182,361
Salaries, Compensation, and Employee Benefits$88,379
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$78,010$22,096-$100,106
Other Salaries and Wages$60,599$21,292-$81,891
Fees for Services Management$20,389$7,164-$27,553
Office Expenses$8,126$2,847-$10,973
Information Technology$7,331$1,995-$9,326
Payroll Taxes$4,801$1,687-$6,488
Insurance$3,929$156-$4,085
Fees for Services Accounting$2,609$916-$3,525
All Other Expenses$2,616$229-$2,845
Depreciation Depletion$1,899$667-$2,566
Other Expenses$1,756$22-$1,756
Fees for Services Legal$370$130-$500
Total Functional Expenses$208,830$61,910$0$270,740
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 OfficerRent Utility & Admin SvcsNo$189,394
-Ownership,boardRent ReceivedNo$63,296
-Owned by OfficerRent ReceivedNo$4,485
-Owned by OfficerShared Adm ExpensesNo$2,537

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
Payroll Taxes Payable$3,261
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 2

“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, Section A, Line 3

“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, Section B, Line 11B

“PRESIDENT REVIEWS”

Form 990, Part VI, Section C, Line 19

“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
2023-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Carlton Fernyak
Formed
2017
Legal Domicile
Oh
Voting Board Members
7
Independent Board Members
4
Employees
1

Preparer

Firm
WOB Accountants and Advisors
Address
2200 Stumbo Road, Ontario, OH 44906
Preparer
James L Henry
Phone
4195295500
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt1MEDIA WORKS HOLDINGS LLC
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt3KICKS HOLDING LLC
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0RENT UTILITY & ADMIN SVCS

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$132,702
Liabilities
$4,826
Net assets
$127,876
Revenue
$355,897
Expenses
$270,740
Net income
$85,157
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