Civic Intelligence

Sogal Foundation

EIN 82-4321559 • 501(c)3 • Naples, FL

Profile

To close the diversity gap in entrepreneurship and venture capital

5560 Strand Court Suite A105Naples, FL 34110

www.iamsogal.com

Siviq Scores

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

Liabilities / Assets

76th percentile

0.21x

Higher debt load relative to assets than 76% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

84th percentile

0.36x

Higher debt load relative to revenue than 84% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2022

Net Margin

88th percentile

45%

Higher net margin than 88% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

73rd percentile

$63,236

Higher top officer pay than 73% of similar nonprofits.

Top officer pay equals 15.0% of source-year revenue.

501(c)3 • $500k-$1M nonprofits • Source year 2022

Asset Growth

18th percentile

-13%

Faster asset growth than 18% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Revenue Growth

78th percentile

39%

Faster revenue growth than 78% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets76th percentile

Assets

Down

$713,255

Down $109,403 (-13%) from 2021

Liabilities

Down

$150,000

Down $300,000 (-67%) from 2021

Net Assets

Up

$563,255

Up $190,597 (+51%) from 2021

Operations
Liabilities / Revenue84th percentileNet Margin88th percentile

Revenue

Up

$421,062

Up $118,110 (+39%) from 2021

Expenses

Down

$230,465

Down $205,020 (-47%) from 2021

Net Income

Up

$190,597

Up $323,130 (+244%) from 2021

Trend Graphs

Balance Sheet Trend

Asset Growth18th percentile

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

$1.0M$500K$0Assets 2018: $920,475Liabilities 2018: $0Net Assets 2018: $920,4752018Assets 2019: $754,819Liabilities 2019: $1,544Net Assets 2019: $753,2752019Assets 2020: $510,196Liabilities 2020: $5,005Net Assets 2020: $505,1912020Assets 2021: $822,658Liabilities 2021: $450,000Net Assets 2021: $372,6582021Assets 2022: $713,255Liabilities 2022: $150,000Net Assets 2022: $563,2552022

Highlighted filing

2022

Assets$713,255
Liabilities$150,000
Net Assets$563,255
Open 2022 Filing

Operations Trend

Revenue Growth78th percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2018: $1,034,347Expenses 2018: $113,872Net Income 2018: $920,4752018Revenue 2019: $231,849Expenses 2019: $399,049Net Income 2019: -$167,2002019Revenue 2020: $512,049Expenses 2020: $760,133Net Income 2020: -$248,0842020Revenue 2021: $302,952Expenses 2021: $435,485Net Income 2021: -$132,5332021Revenue 2022: $421,062Expenses 2022: $230,465Net Income 2022: $190,5972022

Highlighted filing

2022

Revenue$421,062
Expenses$230,465
Net Income$190,597
Open 2022 Filing

Filings

Most recent year

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

Open filing
Assets
$713,255
Liabilities
$150,000
Net assets
$563,255
Revenue
$421,062
Expenses
$230,465
Net income
$190,597
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Detailed filing. Detailed filing data is available for this year.$0.71$0.15$0.56$0.42$0.23$0.19
2021Detailed filing. Detailed filing data is available for this year.$0.82$0.45$0.37$0.30$0.44$0.13
2020Detailed filing. Detailed filing data is available for this year.$0.51$0.01$0.51$0.51$0.76$0.25
2019Detailed filing. Detailed filing data is available for this year.$0.75$0.00$0.75$0.23$0.40$0.17
2018Detailed filing. Detailed filing data is available for this year.$0.92$0.00$0.92$1.03$0.11$0.92
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
May 15, 2024
Return Version
2022v5.0
Gross Receipts
$421,062
Mission and Program Overview

Mission

To close the diversity gap in entrepreneurship and venture capital

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$758,213$665,588▼ $92,625
Accounts Receivable$61,500$45,000▼ $16,500
Prepaid Expenses and Deferred Charges$2,945$2,667▼ $278
Savings and Temporary Cash Investments$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$822,658$713,255▼ $109,403
Other Assets Total$0$0→ $0
Liabilities
Deferred Revenue$450,000$150,000▼ $300,000
Accounts Payable and Accrued Expenses$0$0→ $0
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$450,000$150,000▼ $300,000
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$372,658$563,255▲ $190,597
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$372,658$563,255▲ $190,597
Total Liabilities and Net Assets / Fund Balance$822,658$713,255▼ $109,403
Compensation and Service Providers
Top Officer Pay73rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Ann DrabickOperations & Partnerships ManaFT$63,236$63,236

Board Members and Trustees

NameTitle
Elizabeth GalbutCo-Chair
Yiqing Pocket SunCo-Chair
Calanthia Meimember
Elaine TruongSecretary
Taylor HebbleTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$419,261
Program Service Revenue
$0
Investment Income
$1,801
Other Revenue
$0
All Other Contributions
$419,261
Change in Net Assets
$190,597
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$116,272
Grants and Similar Amounts Paid$60,000
Other Expenses$54,193
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$112,340-$112,340
Grants to Domestic Orgs$60,000--$60,000
Conferences and Meetings$33,236--$33,236
Office Expenses$10,990$3,663-$14,653
Other Employee Benefits-$3,932-$3,932
Fees for Services Legal$3,661--$3,661
Insurance$1,352--$1,352
Travel$1,291--$1,291
Total Functional Expenses$110,530$119,935$0$230,465
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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

“THE ORGANIZATION'S FEDERAL FORM 990 is PROVIDED TO EACH VOTING MEMBER OF ITS GOVERNING BODY, ITS BOARD OF TRUSTEES, PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE ("IRS").”

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

“A conflict of interest questionnaire and statement is completed by the entire board of trustees on an annual basis. The statements are kept on file and reviewed by the board of trustees. The board of trustees is also responsible for resolving matters that arise.”

Form 990, Part VI, Section A, Line 2

“Elizabeth galbut and yiqing (pocket) sun are greater than 10% owners in the same for-profit business entity”

Filing and Contact Details

Filer

Filer Name
SoGaL Foundation
EIN
82-4321559
In Care Of
% YIQING SUN
Phone
2395951163
Address
5560 Strand Court Suite A105, Naples, FL 34110

Signing Officer

Name
Elizabeth Galbut
Title
Co-Chair
Phone
2395951163
Signed
2024-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Elizabeth Galbut
Formed
2018
Legal Domicile
Ny
Voting Board Members
5
Independent Board Members
5
Employees
2
Volunteers
100

Preparer

Firm
WithumSmithBrown PC
Address
ONE TOWER CENTER BLVD 14TH FL, EAST BRUNSWICK, NJ 08816
Preparer
Joseph Perez
Phone
7328281614
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IRS990/RentalIncomeOrLossGrp/RealAmt00
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0230617
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt014216
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01464336
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IRS990ScheduleA/TotalSupportAmt01502259
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IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION'S FEDERAL FORM 990 is PROVIDED TO EACH VOTING MEMBER OF ITS GOVERNING BODY, ITS BOARD OF TRUSTEES, PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE ("IRS").
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A CONFLICT OF INTEREST QUESTIONNAIRE AND STATEMENT IS COMPLETED BY THE ENTIRE BOARD OF TRUSTEES ON AN ANNUAL BASIS. THE STATEMENTS ARE KEPT ON FILE AND REVIEWED BY THE BOARD OF TRUSTEES. THE BOARD OF TRUSTEES IS ALSO RESPONSIBLE FOR RESOLVING MATTERS THAT ARISE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ELIZABETH GALBUT AND YIQING (POCKET) SUN ARE GREATER THAN 10% OWNERS IN THE SAME FOR-PROFIT BUSINESS ENTITY
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 A, LINE 2
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine1Txt0SOGAL VENTURES LLC
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/UBICodeVAmt00
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/AddressLine1Txt0131 FIFTH AVENUE 702
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/CityNm0new york
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/StateAbbreviationCd0NY
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IRS990/TotalGrossUBIAmt00
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IRS990/TotalProgramServiceRevenueAmt00
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