Civic Intelligence

Sogal Foundation

990 • Fiscal year 2019 • EIN 82-4321559

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 16, 2020

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

32nd percentile

0.00x

Higher debt load relative to assets than 32% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

36th percentile

0.01x

Higher debt load relative to revenue than 36% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Net Margin

4th percentile

-72%

Higher net margin than 4% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

80th percentile

$77,226

Higher top officer pay than 80% of similar nonprofits.

Top officer pay equals 33.3% of source-year revenue.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Asset Growth

10th percentile

-18%

Faster asset growth than 10% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Revenue Growth

2nd percentile

-78%

Faster revenue growth than 2% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets32nd percentile

Assets

Down

$754,819

Down $165,656 (-18%) from 2018

Net Assets

Down

$753,275

Down $167,200 (-18%) from 2018

Liabilities

Up

$1,544

Up $1,544 from 2018

Revenue And Expenses
Liabilities / Revenue36th percentileNet Margin4th percentile

Revenue

Down

$231,849

Down $802,498 (-78%) from 2018

Expenses

Up

$399,049

Up $285,177 (+250%) from 2018

Net Income

Down

-$167,200

Down $1,087,675 (-118%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth10th percentile

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

2019

Assets$754,819
Liabilities$1,544
Net Assets$753,275
Open 2019 Filing

Operations Trend

Revenue Growth2nd percentile

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

2019

Revenue$231,849
Expenses$399,049
Net Income-$167,200
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 16, 2020
Return Version
2019v5.1
Gross Receipts
$231,849
Mission and Program Overview

Mission

To close the diversity gap in entrepreneurship and venture capital

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$0$651,031▲ $651,031
Cash and Non-Interest-Bearing Accounts$920,475$100,907▼ $819,568
Accounts Receivable$0$2,881▲ $2,881
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$920,475$754,819▼ $165,656
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$0$1,544▲ $1,544
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$1,544▲ $1,544
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$920,475$753,275▼ $167,200
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$920,475$753,275▼ $167,200
Total Liabilities and Net Assets / Fund Balance$920,475$754,819▼ $165,656
Compensation and Service Providers
Top Officer Pay80th percentile

Employees

NameTitleFull / Part TimeBaseTotal
kelly henryglobal executive directorFT$77,226$77,226
Calanthia MeimemberPT$5,000$5,000
Elaine TruongMemberPT$5,000$5,000
Elizabeth Galbut perelMemberPT$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
$230,617
Program Service Revenue
$0
Investment Income
$1,155
Other Revenue
$77
All Other Contributions
$230,617
Change in Net Assets
$-167,200
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$290,403
Salaries, Compensation, and Employee Benefits$108,646
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees-$86,698-$86,698
Information Technology$75,551--$75,551
Occupancy$55,110--$55,110
Conferences and Meetings$48,659--$48,659
Fees for Services Other$37,754--$37,754
Office Expenses$8,489$25,465-$33,954
Advertising$27,744--$27,744
Other Employee Benefits-$12,169-$12,169
Payroll Taxes-$9,779-$9,779
Insurance$1,211$3,632-$4,843
Travel$4,419--$4,419
Fees for Services Legal$2,369--$2,369
Total Functional Expenses$261,306$137,743$0$399,049
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 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.”

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
Elizabeth Galbut
Title
Co-President
Phone
2395951163
Signed
2020-11-16
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
4
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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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
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Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$754,819
Liabilities
$1,544
Net assets
$753,275
Revenue
$231,849
Expenses
$399,049
Net income
-$167,200
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