Civic Intelligence

Sogal Foundation

990 • Fiscal year 2020 • EIN 82-4321559

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 15, 2021

Organization Profilewww.iamsogal.com
131 Fifth Avenue 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

38th percentile

0.01x

Higher debt load relative to assets than 38% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

36th percentile

0.01x

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

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Net Margin

8th percentile

-48%

Higher net margin than 8% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

81st percentile

$81,321

Higher top officer pay than 81% of similar nonprofits.

Top officer pay equals 15.9% of source-year revenue.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Asset Growth

4th percentile

-32%

Faster asset growth than 4% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

94th percentile

121%

Faster revenue growth than 94% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets38th percentile

Assets

Down

$510,196

Down $244,623 (-32%) from 2019

Net Assets

Down

$505,191

Down $248,084 (-33%) from 2019

Liabilities

Up

$5,005

Up $3,461 (+224%) from 2019

Revenue And Expenses
Liabilities / Revenue36th percentileNet Margin8th percentile

Revenue

Up

$512,049

Up $280,200 (+121%) from 2019

Expenses

Up

$760,133

Up $361,084 (+90%) from 2019

Net Income

Down

-$248,084

Down $80,884 (-48%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth4th 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

2020

Assets$510,196
Liabilities$5,005
Net Assets$505,191
Open 2020 Filing

Operations Trend

Revenue Growth94th 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

2020

Revenue$512,049
Expenses$760,133
Net Income-$248,084
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 15, 2021
Return Version
2020v4.1
Gross Receipts
$512,049
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$651,031$0▼ $651,031
Cash and Non-Interest-Bearing Accounts$100,907$510,196▲ $409,289
Accounts Receivable$2,881$0▼ $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$754,819$510,196▼ $244,623
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$1,544$5,005▲ $3,461
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$1,544$5,005▲ $3,461
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$753,275$505,191▼ $248,084
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$753,275$505,191▼ $248,084
Total Liabilities and Net Assets / Fund Balance$754,819$510,196▼ $244,623
Compensation and Service Providers
Top Officer Pay81st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kelly HenryGlobal Executive DirectorFT$78,132$3,189$81,321

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
$497,339
Program Service Revenue
$0
Investment Income
$14,710
Other Revenue
$0
All Other Contributions
$440,057
Change in Net Assets
$-248,084
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$309,874
Salaries, Compensation, and Employee Benefits$308,886
Grants and Similar Amounts Paid$141,373
Total Fundraising Expense$6,503
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$218,950-$218,950
Conferences and Meetings$218,228-$0$218,228
Grants to Domestic Orgs$141,373--$141,373
Current Officers, Directors, Trustees, and Key Employees-$81,939-$81,939
Occupancy$47,146--$47,146
Office Expenses$4,094$12,282$6,503$22,879
Fees for Services Legal-$21,048-$21,048
Other Employee Benefits-$7,997-$7,997
Travel$573--$573
Total Functional Expenses$411,414$342,216$6,503$760,133
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
AK ProstheticsChicgao, IL-Grow Company$10,000
GabaAtlanta, GA-Grow Company$10,000
Queerly HealthNew York, NY-Grow Company$10,000
SoulaceCordova, TN-Grow Company$10,000
Un-rulyPoinciana, FL-Grow Company$10,000
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.”

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
131 Fifth Avenue 702, New York, NY 10003

Signing Officer

Name
Elizabeth Galbut
Title
Co-Chair
Phone
2395951163
Signed
2021-11-15
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
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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IRS990/PYInvestmentIncomeAmt01155
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IRS990/PYOtherRevenueAmt077
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IRS990/PYTotalRevenueAmt0231849
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IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-248084
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
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IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
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IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0651031
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/First5Years170Ind0X
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0230617
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt014216
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt00
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt08527
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IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt011604
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/OtherIncome170Grp/TotalAmt011681
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportTotal170Amt0742172
IRS990ScheduleA/SubstantialContributorsTotAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0497339
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0230617
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt014216
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0742172
IRS990ScheduleA/TotalSupportAmt0778245
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
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IRS990ScheduleI/RecipientTable/CashGrantAmt110000
IRS990ScheduleI/RecipientTable/CashGrantAmt210000
IRS990ScheduleI/RecipientTable/CashGrantAmt310000
IRS990ScheduleI/RecipientTable/CashGrantAmt410000
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0Grow Company
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1Grow Company
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2Grow Company
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3GROW COMPANY
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt4GROW COMPANY
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0Un-ruly
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1Soulace
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2Queerly Health
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3AK Prosthetics
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt4GABA
IRS990ScheduleI/RecipientTable/RecipientEIN0843817236
IRS990ScheduleI/RecipientTable/RecipientEIN1845000854
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IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt01233 Apopka Ln
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1398 Enquirer Ct Apt 105
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt230 W 26th St
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt34623 S Evans St 3
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt4444 Highland Ave suite 918
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Poinciana
IRS990ScheduleI/RecipientTable/USAddress/CityNm1Cordova
IRS990ScheduleI/RecipientTable/USAddress/CityNm2New York
IRS990ScheduleI/RecipientTable/USAddress/CityNm3Chicgao
IRS990ScheduleI/RecipientTable/USAddress/CityNm4Atlanta
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0FL
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1TN
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd2NY
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd3IL
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd4GA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd034759
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd138018
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd210010
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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
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/EIN0812106823
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/LegalDomicileStateCd0DE
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PredominantIncomeTypeTxt0n/a
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PrimaryActivitiesTxt0n/a
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine1Txt0SOGAL VENTURES LLC
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/ShareOfEOYAssetsAmt00
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/ShareOfTotalIncomeAmt00
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/UBICodeVAmt00
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/AddressLine1Txt0131 FIFTH AVENUE 702
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/CityNm0new york
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/StateAbbreviationCd0NY
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/ZIPCd010003
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
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IRS990ScheduleR/PerformOfServicesForOthOrgInd0false

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$510,196
Liabilities
$5,005
Net assets
$505,191
Revenue
$512,049
Expenses
$760,133
Net income
-$248,084
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