Civic Intelligence

Corus Solutions Inc

EIN 82-4219629 • 501(c)3 • Baltimore, MD

Profile

Corus solutions is a center where innovative public health and allied programs can be conceived, tested and implemented on behalf of ima world health. Ima innovations will pursue creative projects that expand and refine the agency's public health programming while exploring future areas of work.

700 Light StreetBaltimore, MD 21230

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

92nd percentile

0.93x

Higher debt load relative to assets than 92% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

86th percentile

1.17x

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

501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

9th percentile

-33%

Higher net margin than 9% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

96th percentile

$582,891

Higher top officer pay than 96% of similar nonprofits.

Top officer pay equals 10.2% of source-year revenue.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Asset Growth

28th percentile

-2.2%

Faster asset growth than 28% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

5th percentile

-51%

Faster revenue growth than 5% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Assets

Down

$7,168,379

Down $161,380 (-2.2%) from 2023

Liabilities

Up

$6,694,046

Up $1,719,595 (+35%) from 2023

Net Assets

Down

$474,333

Down $1,880,975 (-80%) from 2023

Revenue

Down

$5,700,130

Down $5,959,598 (-51%) from 2023

Expenses

Down

$7,581,105

Down $3,814,654 (-33%) from 2023

Net Income

Down

-$1,880,975

Down $2,144,944 (-813%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$10M$5.0M$0Assets 2018: $813,245Liabilities 2018: $812,539Net Assets 2018: $7062018Assets 2019: $4,766,903Liabilities 2019: $4,657,254Net Assets 2019: $109,6492019Assets 2020: $2,687,450Liabilities 2020: $2,263,516Net Assets 2020: $423,9342020Assets 2021: $3,612,532Liabilities 2021: $3,025,664Net Assets 2021: $586,8682021Assets 2022: $8,994,368Liabilities 2022: $6,082,722Net Assets 2022: $2,911,6462022Assets 2023: $7,329,759Liabilities 2023: $4,974,451Net Assets 2023: $2,355,3082023Assets 2024: $7,168,379Liabilities 2024: $6,694,046Net Assets 2024: $474,3332024

Highlighted filing

2024

Assets$7,168,379
Liabilities$6,694,046
Net Assets$474,333

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$15M$10M$5.0M$0-$5.0MRevenue 2018: $79,590Expenses 2018: $78,884Net Income 2018: $7062018Revenue 2019: $4,967,977Expenses 2019: $4,859,034Net Income 2019: $108,9432019Revenue 2020: $8,861,610Expenses 2020: $8,547,325Net Income 2020: $314,2852020Revenue 2021: $10,914,808Expenses 2021: $10,751,874Net Income 2021: $162,9342021Revenue 2022: $13,127,527Expenses 2022: $10,802,749Net Income 2022: $2,324,7782022Revenue 2023: $11,659,728Expenses 2023: $11,395,759Net Income 2023: $263,9692023Revenue 2024: $5,700,130Expenses 2024: $7,581,105Net Income 2024: -$1,880,9752024

Highlighted filing

2024

Revenue$5,700,130
Expenses$7,581,105
Net Income-$1,880,975

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Oct 1, 2023 to Sep 30, 2024
Signed
Sep 22, 2025
Return Version
2023v6.0
Gross Receipts
$5,700,130
Mission and Program Overview

Mission

Ima innovations is a center where innovative public health and allied programs can be conceived, tested and implemented on behalf of ima world health. Ima innovations will pursue creative projects that expand and refine the agency's public health programming while exploring future areas of work.

This return should be reviewed together with corus solutions related organizations corus international, lutheran world relief, inc., and interchurch medical assistance inc. Corus solutions' mission is to pursue creative projects that expand and refine public health programming while exploring future areas of work. Corus solutions is a center where innovative public health and allied programs can be conceived, tested and implemented.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,668,799$2,455,342▲ $786,543
Pledges and Grants Receivable$877,064$542,108▼ $334,956
Accounts Receivable$546,209$459,823▼ $86,386
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0--
Investments Program Related$0--
Land, Buildings, and Equipment, Net$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$7,329,759$7,168,379▼ $161,380
Other Assets Total$4,237,687$3,711,106▼ $526,581
Liabilities
Other Liabilities$3,299,426$4,817,051▲ $1,517,625
Deferred Revenue$1,451,606$1,613,937▲ $162,331
Accounts Payable and Accrued Expenses$223,419$263,058▲ $39,639
Total Liabilities$4,974,451$6,694,046▲ $1,719,595
Net Assets / Fund Balance
Net Assets With Donor Restrictions$2,245,989$580,110▼ $1,665,879
Net Assets Without Donor Restrictions$109,319$-105,777▼ $215,096
Total Net Assets Fund Balance$2,355,308$474,333▼ $1,880,975
Total Liabilities and Net Assets / Fund Balance$7,329,759$7,168,379▼ $161,380

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$3,711,106--
Compensation and Service Providers

Employees

NameTitleOtherTotal
Mark MoyerInterim CFO$94,462$94,462

Board Members and Trustees

NameTitle
Daniel SpeckhardPresident and CEO
Tim McCullyExecutive Vice President
Andrea WilsonGeneral Counsel and Vice President of Compliance
JoAnn TheysSenior Vice President Finance and Administration
Edward ByrdVice President of Global Operations
Michael WattVice President of Global Operations
Abagail NelsonDirector
Cathy PettiDirector
David LoseDirector
Hilda ArellanoDirector
Jean HansonDirector
Katherine TunheimDirector
Kenneth JonesDirector
Kurt NewmanDirector
Marcelino Ford-LiveneDirector
Muna BhanjiDirector
Philip Atkins-PattensonDirector
Sonya FunnaDirector
Tamron KeithDirector
Timothy RuntschDirector
William CraftDirector
Jeremy BaumanExecutive Director, Ground Up Investing
Frederick KellettManaging Director
George HannaManaging Director
Lali ChaniaManaging Director
Eric RamirezSenior Technical Director
Cheri KaseChief Information Officer
Paul AuxilaChief of Party, Haiti Program
Shelly TalcottChief of Staff
Mahmoud BahChief Operating Officer
Frances WoodardChief People and Culture Officer
Mary LinehanSr Tech, Infectious Diseases
Revenue and Support

Revenue Composition

Contributions and Grants
$5,700,130
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$5,700,130
Change in Net Assets
$-1,880,975
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$5,777,377
Salaries, Compensation, and Employee Benefits$1,763,987
Grants and Similar Amounts Paid$39,741
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$894,160$0$0$894,160
Other Employee Benefits$869,827$0$0$869,827
Occupancy$615,482$0$0$615,482
Travel$514,789$2,094$0$516,883
Fees for Services Other$318,827$542$0$319,369
Conferences and Meetings$118,146$0$0$118,146
Fees for Service Investment Mgmnt Fees$0$75,913$0$75,913
Information Technology$46,764$0$0$46,764
Grants to Domestic Orgs$39,741--$39,741
Office Expenses$31,264$0$0$31,264
Insurance$11,221$0$0$11,221
Depreciation Depletion$1,197$0$0$1,197
Other Expenses$-40,106$5,384$0$-34,722
Total Functional Expenses$7,497,172$83,933$0$7,581,105
International Activity

International Summary

Offices
1
Employees
13
Spending
$5,405,822

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Sub-Saharan AfricaProgram ServicesProgram Implementation, Subgrants Management113$5,405,822
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
Insider Transactions and Loans

Loans and Receivables

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

Other Reported Liabilities

LiabilityAmount
Intercompany Payable$4,817,051
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
Yes
Other officer compensation reviewed
Yes
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, Line 11B Review of form 990 by governing body

Corus solutions provides a draft copy of the federal form 990 to the board of directors for questions and comments prior to submission. Once their review is complete and the finance committee has approved the draft form 990, the federal form 990 is provided to the president and ceo for signature. A copy of the final federal form 990 submission is provided to the board of directors before it is filed with the internal revenue service.

Form 990, Part VI, Line 12C Conflict of interest policy

The conflict of interest policy (applicable to board of directors and all employees) states that a conflict of interest exists whenever there is a proposed agency transaction in which a director, officer, or staff member has any actual or potential involvement, interest, or relationship, either directly or indirectly. A conflict of interest may also exist when the interests or concerns of an employee, or such employee's immediate family, or any party, group or organization to which such person has allegiance, may be seen as competing with the interests or concerns of the agency. Each employee has a duty to disclose to the president the material facts of any proposed transaction of the agency in which such person has any actual or potential conflict of interest. The required disclosure must be made prior to any consideration of such proposed transaction by the agency. An employee or board member having an actual or proposed conflict of interest shall not participate in the deliberations or decision-making process of the agency regarding the matter under consideration. However, he or she shall provide the agency with any, and all relevant information regarding the matter. The president shall take such additional action as may be required to ensure that the conflict of interest is resolved and shall maintain a record.

Form 990, Part VI, Line 15A Process to establish compensation of top management official

Determination of president's compensation: an independent compensation consultant performs an analysis annually using independent research which considers the organization's current budget, the current salary of the president, and the number of years the president has served in that position. The analysis is based on various salary surveys to provide a salary range competitive with other similarly situated nonprofits in the geographical area. The resulting findings are provided to the board of directors' officers, who reviews the findings and makes a recommendation to the full board for their approval regarding the president's compensation for the coming year. Compensation of all other staff (including other officers): compensation of all other staff are guided by a salary administration policy developed by corus international. The objective of this policy is to ensure that salaries are commensurate with comparable organizations in the competitive labor market and that salary grades reflect the relative internal responsibility, accountability and know-how of all positions across the organization. An internal committee evaluates every job description to determine the appropriate salary range for all positions; salary ranges are intended to reinforce career growth, consider market values, and are managed in an equitable manner consistent with organizational values.

Form 990, Part VI, Line 15B Process to establish compensation of other employees

Ceo compensation is reviewed by the board of directors at the fall board meeting and the approved compensation figures are included in corus' annual budget that is provided to the board of directors for approval.

Form 990, Part VI, Line 19 Required documents available to the public

As required by board policy, the organization makes available to the public its audited financial statements, irs form 990, a list of current board members, conflict of interest policy and other information that may be helpful to the public in understanding the organization's purposes, goals, activities, and results. This information is available either through the corus international website, various charity monitoring websites, or upon request for the same period of disclosure as set forth in section 6104(d).

Filing and Contact Details

Filer

Filer Name
Corus Solutions Inc
EIN
82-4219629
Phone
2028886200
Address
700 LIGHT STREET, BALTIMORE, MD 21230

Signing Officer

Name
Robert Mooney
Title
Chief Financial & Admin. Officer
Phone
2028886200
Signed
2025-09-22
Discuss with paid preparer
Yes

Organization Details

Formed
2018
Legal Domicile
Md
Voting Board Members
18
Independent Board Members
15
Employees
0
Volunteers
0

Preparer

Firm
Bdo USA
Address
8401 GREENSBORO DR STE 800, MCLEAN, VA 22102-3599
Preparer
Todd Teresco
Phone
7038930600
Supplemental Narrative

Financial Statement Notes

Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote

Corus solutions is generally exempt from federal income taxes under the provisions of section 501(c)(3) of the irc. In addition, corus solutions qualifies for charitable contribution deductions and has been classified as an organization that is not a private foundation. Income received, which is not related to exempt purposes, less applicable deductions, is subject to federal and state corporate income taxes. Corus solutions had no net unrelated business income for the years ended september 30, 2024 and 2023. Corus solutions follows u.s. Gaap which recognize income tax positions taken or expected to be taken in a tax return only when it is determined that the income tax position will more-likely-than-not be sustained upon examination by taxing authorities. Corus solutions files tax returns in the u.s. Federal jurisdictions. Corus solutions believes that income tax filing positions will be sustained upon examination and does not anticipate any adjustments that would result in a material adverse effect on corus solutions' financial position, results of activities or cash flows. Accordingly, corus solutions has not recorded any reverses or related accruals for taxes, interest and penalties for uncertain income tax positions on september 30, 2024 and 2023. Corus solutions is open to examination by taxing authorities from its tax year ended september 30, 2021 forward.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0President and CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt1Senior Vice President Finance and Administration
IRS990/Form990PartVIISectionAGrp/TitleTxt2Chief Operating Officer
IRS990/Form990PartVIISectionAGrp/TitleTxt3Interim CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt4Executive Vice President
IRS990/Form990PartVIISectionAGrp/TitleTxt5General Counsel and Vice President of Compliance
IRS990/Form990PartVIISectionAGrp/TitleTxt6Vice President of Global Operations
IRS990/Form990PartVIISectionAGrp/TitleTxt7Chief People and Culture Officer
IRS990/Form990PartVIISectionAGrp/TitleTxt8Executive Director, Ground Up Investing
IRS990/Form990PartVIISectionAGrp/TitleTxt9Vice President of Global Operations
IRS990/Form990PartVIISectionAGrp/TitleTxt10Chief of Staff
IRS990/Form990PartVIISectionAGrp/TitleTxt11Senior Technical Director
IRS990/Form990PartVIISectionAGrp/TitleTxt12Managing Director
IRS990/Form990PartVIISectionAGrp/TitleTxt13Managing Director
IRS990/Form990PartVIISectionAGrp/TitleTxt14Sr Tech, Infectious Diseases
IRS990/Form990PartVIISectionAGrp/TitleTxt15Chief of Party, Haiti Program
IRS990/Form990PartVIISectionAGrp/TitleTxt16Chief Information Officer
IRS990/Form990PartVIISectionAGrp/TitleTxt17Managing Director
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IRS990/MissionDesc0CORUS SOLUTIONS IS A CENTER WHERE INNOVATIVE PUBLIC HEALTH AND ALLIED PROGRAMS CAN BE CONCEIVED, TESTED AND IMPLEMENTED ON BEHALF OF IMA WORLD HEALTH. IMA INNOVATIONS WILL PURSUE CREATIVE PROJECTS THAT EXPAND AND REFINE THE AGENCY'S PUBLIC HEALTH PROGRAMMING WHILE EXPLORING FUTURE AREAS OF WORK. Corus Solutions is a subsidiary of Corus International. As such this 990 should be read in conjunction with that of the parent entity.
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