Civic Intelligence

Sogal Foundation

990 • Fiscal year 2018 • EIN 82-4321559

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 15, 2019

Organization Profilewww.iamsogal.com
131 Fifth Avenue Suite 702New York, NY 10003

(239) 595-1163

Siviq Scores

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

Liabilities / Assets

14th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

14th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

98th percentile

89%

Higher net margin than 98% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

52nd percentile

$68,836

Higher top officer pay than 52% of similar nonprofits.

Top officer pay equals 6.7% of source-year revenue.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2018

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2018

Balance Sheet
Liabilities / Assets14th percentile

Assets

$920,475

No earlier filing loaded for comparison.

Net Assets

$920,475

No earlier filing loaded for comparison.

Liabilities

$0

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue14th percentileNet Margin98th percentile

Revenue

$1,034,347

No earlier filing loaded for comparison.

Expenses

$113,872

No earlier filing loaded for comparison.

Net Income

$920,475

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$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

2018

Assets$920,475
Liabilities$0
Net Assets$920,475
Open 2018 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this 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

2018

Revenue$1,034,347
Expenses$113,872
Net Income$920,475
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 15, 2019
Return Version
2018v3.1
Gross Receipts
$1,034,347
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$0$920,475▲ $920,475
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$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
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$0$920,475▲ $920,475
Other Assets Total$0$0→ $0
Liabilities
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
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$0$920,475▲ $920,475
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$0$920,475▲ $920,475
Total Liabilities and Net Assets / Fund Balance$0$920,475▲ $920,475
Compensation and Service Providers
Top Officer Pay52nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
kelly henryglobal executive directorFT$64,797$4,039$68,836
Calanthia MeimemberPT$5,000-$5,000
Elaine TruongMemberPT$5,000-$5,000
Elizabeth Galbut perelmanMemberPT$5,000-$5,000
Taylor HebblememberPT$5,000-$5,000
yiqing Pocket SunMemberPT$5,000-$5,000
Revenue and Support

Revenue Composition

Contributions and Grants
$1,014,216
Program Service Revenue
$0
Investment Income
$8,527
Other Revenue
$11,604
All Other Contributions
$1,014,216
Change in Net Assets
$920,475

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table1$1,000,000Fair Market Value (FMV)
Total Noncash Contributions1$1,000,000-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$88,872
Salaries, Compensation, and Employee Benefits$25,000
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Office Expenses$2,231$26,801-$29,032
Other Salaries and Wages-$25,000-$25,000
Occupancy$18,000--$18,000
Fees for Services Legal$17,124--$17,124
Other Expenses$12,329$0$0$12,329
Insurance$267$801-$1,068
Fees for Services Other$647$0$0$647
Travel$298--$298
Advertising$200--$200
Total Functional Expenses$51,096$62,776$0$113,872
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
Backup withholding compliance
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
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.”

Filing and Contact Details

Filer

Filer Name
SoGal Foundation
EIN
82-4321559
In Care Of
% YIQING SUN
Phone
2395951163
Address
131 Fifth Avenue Suite 702, New York, NY 10003

Signing Officer

Name
Yiqing Sun
Title
Co-President
Phone
2395951163
Signed
2019-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Yiqing Sun
Formed
2018
Legal Domicile
Ny
Voting Board Members
5
Independent Board Members
5
Employees
1
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/Desc0Our regular webinar series and a series of in-person trainings provides training and mentorship for junior women beginning their careers in Venture Capital (VC) and angel investing to ask questions and get advice in a candid, safe setting. As a result, through these educational trainings, the Foundation will educate and galvanize diverse future investors, who will in turn invest at least $1.5M+ in underrepresented founders. The Foundation is hosting our second annual global competition for female and underrepresented founders with multiple regional rounds, and a three-day immersive bootcamp for the cohort of global finalists. The Foundation is providing the unique opportunity for underrepresented founders to compete in multiple rounds and learn in an immersive educational bootcamp, with an exclusive opportunity for exposure and feedback. This educational initiative and publicity has the potential to result in VC feedback and a chance to secure funding which aids female-owned businesses, which are a minority in the VC world. The Foundation hosts 12 online fireside chats on often-ignored systemic issues such as societal expectations & pressures of marriage, fertility & childcare, and eldercare, reaching more than 1,200 diverse entrepreneurs. The webinar participants learn new ways to cope with the stresses entrepreneurs face, a stronger understanding of their finances, or additional confidence in speaking to media. The Foundation hosts mental health, financial literacy, and media training educational webinars reaching more than 2,400 diverse entrepreneurs. Webinars may be accompanied by in person events facilitated by Facebook live. The webinar participants will learn new strategies & resources to strengthen resilience despite the often ignored systemic issues, societal expectations, and family responsibility pressures. The Foundation's SoGal Chapters of hyper-local micro communities of diverse entrepreneurs will expand to 11 additional US cities from the 12 cities where they are now located. By EOY 2020, at least 2000 diverse entrepreneurs will participate in 11 new US Foundation community initiatives, benefiting from a peer network of entrepreneurs and focused, curated, and efficient educational content. The Foundation's SoGal chapter leads will host 250+ local educational nitiatives across the world to support diverse entrepreneurs within communities they're already based in. Chapter Leads will organize and host at least 250+ local in-person educational events to cultivate entrepreneurial skills learning, networking and connections. Initiatives across the world to support diverse entrepreneurs within communities they're already based in. Chapter Leads will organize and host at least 250+ local in-person educational events to cultivate entrepreneurial skills learning, networking and connections.
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IRS990/PYTotalExpensesAmt00
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IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0920475
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt014216
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt08527
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt08527
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt011604
IRS990ScheduleA/OtherIncome170Grp/TotalAmt011604
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IRS990ScheduleA/PublicSupportTotal170Amt014216
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt014216
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt014216
IRS990ScheduleA/TotalSupportAmt034347
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
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
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IRS990ScheduleM/AnyPropertyThatMustBeHeldInd0false
IRS990ScheduleM/OtherNonCashContriTableGrp/ContributionCnt01
IRS990ScheduleM/OtherNonCashContriTableGrp/Desc0bitcoin
IRS990ScheduleM/OtherNonCashContriTableGrp/MethodOfDeterminingRevenuesTxt0fmv
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IRS990ScheduleM/OtherNonCashContriTableGrp/NoncashContributionsRptF990Amt01000000
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd0false
IRS990ScheduleM/ThirdPartiesUsedInd0false
IRS990/ScheduleORequiredInd0true
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/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/OwnershipPct01.00000
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PrimaryActivitiesTxt0management
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine1Txt0SOGAL VENTURES LLC
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/ShareOfTotalIncomeAmt0106020
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/AddressLine1Txt0131 FIFTH AVENUE 702
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/CityNm0new york
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/StateAbbreviationCd0NY
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/ZIPCd010003
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IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0true
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
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IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt00
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsGrp/BOYAmt00
IRS990/TotalAssetsGrp/EOYAmt0920475
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IRS990/TotalContributionsAmt01014216
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt062776
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt051096
IRS990/TotalFunctionalExpensesGrp/TotalAmt0113872

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$920,475
Liabilities
$0
Net assets
$920,475
Revenue
$1,034,347
Expenses
$113,872
Net income
$920,475
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