Civic Intelligence

Formula Smiles Inc.

990 • Fiscal year 2015 • EIN 83-0370463

Jan 01, 2015 to Dec 31, 2015 • Filed on Nov 07, 2016

Organization ProfileWWW.FORMULASMILES.COM
Doral1 Bldg 3785 NW 82nd Ave No 107Doral, FL 33166

(305) 577-9409

Siviq Scores

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

Liabilities / Assets

98th percentile

2.90x

Higher debt load relative to assets than 98% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Liabilities / Revenue

98th percentile

3.56x

Higher debt load relative to revenue than 98% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Net Margin

8th percentile

-46%

Higher net margin than 8% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Top Officer Pay

75th percentile

$0

Higher top officer pay than 75% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Asset Growth

60th percentile

8.2%

Faster asset growth than 60% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Annualized from 2014 to 2015

Revenue Growth

42nd percentile

-3.6%

Faster revenue growth than 42% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets98th percentile

Assets

Up

$53,118

Up $4,040 (+8.2%) from 2014

Net Assets

Down

-$100,666

Down $51,425 (-104%) from 2014

Liabilities

Up

$153,784

Up $55,465 (+56%) from 2014

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin8th percentile

Revenue

Down

$43,237

Down $1,623 (-3.6%) from 2014

Expenses

Down

$63,087

Down $4,399 (-6.5%) from 2014

Net Income

Up

-$19,850

Up $2,776 (+12%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth60th percentile

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

$300K$200K$100K$0-$100K-$200KAssets 2010: $274,471Liabilities 2010: $23,564Net Assets 2010: $250,9072010Assets 2011: $192,350Liabilities 2011: $26,922Net Assets 2011: $165,4282011Assets 2012: $183,822Liabilities 2012: $45,678Net Assets 2012: $138,1442012Assets 2013: $37,070Liabilities 2013: $63,684Net Assets 2013: -$26,6142013Assets 2014: $49,078Liabilities 2014: $98,319Net Assets 2014: -$49,2412014Assets 2015: $53,118Liabilities 2015: $153,784Net Assets 2015: -$100,6662015Assets 2016: $53,280Liabilities 2016: $129,784Net Assets 2016: -$76,5042016Assets 2017: $57,101Liabilities 2017: $129,784Net Assets 2017: -$72,6832017Assets 2018: $64,314Liabilities 2018: $129,784Net Assets 2018: -$65,4702018Assets 2019: $69,098Liabilities 2019: $129,785Net Assets 2019: -$60,6872019Assets 2020: $63,101Liabilities 2020: $74,319Net Assets 2020: -$11,2182020Assets 2021: $79,912Liabilities 2021: $74,319Net Assets 2021: $5,5932021Assets 2022: $79,653Liabilities 2022: $74,319Net Assets 2022: $5,3342022

Highlighted filing

2015

Assets$53,118
Liabilities$153,784
Net Assets-$100,666
Open 2015 Filing

Operations Trend

Revenue Growth42nd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0-$200KRevenue 2010: $413,586Expenses 2010: $385,513Net Income 2010: $28,0732010Revenue 2011: $370,944Expenses 2011: $456,423Net Income 2011: -$85,4792011Revenue 2012: $488,035Expenses 2012: $515,319Net Income 2012: -$27,2842012Revenue 2013: $276,359Expenses 2013: $441,117Net Income 2013: -$164,7582013Revenue 2014: $44,860Expenses 2014: $67,486Net Income 2014: -$22,6262014Revenue 2015: $43,237Expenses 2015: $63,087Net Income 2015: -$19,8502015Revenue 2016: $61,700Expenses 2016: $37,538Net Income 2016: $24,1622016Revenue 2017: $4,034Expenses 2017: $213Net Income 2017: $3,8212017Revenue 2018: $13,580Expenses 2018: $6,367Net Income 2018: $7,2132018Revenue 2019: $5,081Expenses 2019: $298Net Income 2019: $4,7832019Revenue 2020: $4,219Expenses 2020: $5,241Net Income 2020: -$1,0222020Revenue 2021: $14,586Expenses 2021: $304Net Income 2021: $14,2822021Revenue 2022: $0Expenses 2022: $259Net Income 2022: -$2592022

Highlighted filing

2015

Revenue$43,237
Expenses$63,087
Net Income-$19,850
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Nov 7, 2016
Return Version
2015v2.1
Gross Receipts
$43,237
Mission and Program Overview

Mission

To improve the quality of life and the surroundings of children with the most crucial needs in colombia by implementing programs that instill values through sports and recreation. "providing the children with a reason to smile."

To provide financial & other assistance in sponsoring athletic programs and facilities for disadvantaged colombian children.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$25,003$24,067▼ $936
Inventories for Sale or Use$10,319$10,319→ $0
Accounts Receivable$10,102$6,951▼ $3,151
Land, Buildings, and Equipment, Net$2,714$2,423▼ $291
Investments Other Securities$2,130$1,914▼ $216
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$-89,704$-100,666▼ $10,962
Total Assets$60,480$53,118▼ $7,362
Other Assets Total$10,212$7,444▼ $2,768
Liabilities
Accounts Payable and Accrued Expenses$112,823$114,042▲ $1,219
Other Liabilities$37,361$39,742▲ $2,381
Total Liabilities$150,184$153,784▲ $3,600
Net Assets / Fund Balance
Total Net Assets Fund Balance$-89,704$-100,666▼ $10,962
Total Liabilities and Net Assets / Fund Balance$60,480$53,118▼ $7,362

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$2,423$19,132$21,555
Other Assets Org$7,444--
Compensation and Service Providers
Top Officer Pay75th percentile

Board Members and Trustees

NameTitle
Connie FreydellDirector/president
Pablo F MontoyaDirector
Albert Naon JrSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$43,097
Program Service Revenue
$0
Investment Income
$30
Other Revenue
$110
All Other Contributions
$43,097
Change in Net Assets
$-19,850
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$63,087
Total Fundraising Expense$42,324
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other-$9,080-$9,080
Occupancy-$2,028-$2,028
Other Expenses-$1,774$42,324$1,774
All Other Expenses-$1,717-$1,717
Total Functional Expenses$0$20,763$42,324$63,087
International Activity

International Summary

Offices
1
Employees
1
Spending
$18,914

International Compliance

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
South America - Argentina, Bolivia,Fundraising-11$18,914
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Colombian Branch$35,299
Accrued Expenses$3,637
Taxes$671
Payroll Liabilities$135
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

“Director pablo montoya is the father-in-law of director connie freydell.”

Form 990, Part VI, Section B, Line 11

“Officers review form 990 prior to signing and filing.”

Form 990, Part VI, Section C, Line 19

“UPON REQUEST.”

Filing and Contact Details

Filer

Filer Name
Formula Smiles Inc
EIN
83-0370463
Phone
3055779409
Address
DORAL1 BLDG 3785 NW 82ND AVE NO 107, DORAL, FL 33166

Signing Officer

Name
Albert Naon Jr
Title
Secretary
Phone
3055779409
Signed
2016-11-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Albert Naon Jr
Formed
2003
Legal Domicile
Fl
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
The Neilson Company Chartered CPA
Address
2002 BEACH TRAIL SUITE B, INDIAN ROCKS BEACH, FL 33785
Preparer
Charles S Neilson
Phone
7275957578
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Professional fees - other: program service expenses 0. Management and general expenses 9,080. Fundraising expenses 0. Total expenses 9,080.”

Page 11, Part X, Line 32 (A)

“The 2014 balance sheet in part x has been re-stated to include the colombian branch assets, liabilities and retained earnings. The colombian information was not available at the time of filing the 2014 return. Additional adjustments have been made to reflect currency translation from colombian pesos to u.s. Dollars.”

FORM 990, PART XI, LINE 9:

“Currency translation adjustments & prior period adjustments 8,888.”

Raw XML Appendix380 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/EquipmentGrp/BookValueAmt02423
IRS990ScheduleD/EquipmentGrp/DepreciationAmt019132
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt021555
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt07444
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0ADVANCES & DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0135
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt13637
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt235299
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt3671
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PAYROLL LIABILITIES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1ACCRUED EXPENSES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2DUE TO COLOMBIAN BRANCH
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3TAXES
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02423
IRS990ScheduleD/TotalBookValueOtherAssetsAmt07444
IRS990ScheduleD/TotalLiabilityAmt039742
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/EmployeeCnt01
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/OfficesCnt01
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt018914
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt0SOUTH AMERICA - ARGENTINA, BOLIVIA,
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt0FUNDRAISING
IRS990ScheduleF/BoycottCountriesInd00
IRS990ScheduleF/ContinuationSpentAmt00
IRS990ScheduleF/ContinutationTotalEmployeeCnt00
IRS990ScheduleF/ContinutationTotalOfficeCnt00
IRS990ScheduleF/ForeignCorpOwnershipInd00
IRS990ScheduleF/ForeignPartnershipInd00
IRS990ScheduleF/InterestInForeignTrustInd00
IRS990ScheduleF/PassiveForeignInvestmestCoInd00
IRS990ScheduleF/SubtotalEmployeesCnt01
IRS990ScheduleF/SubtotalOfficesCnt01
IRS990ScheduleF/SubtotalSpentAmt018914
IRS990ScheduleF/TotalEmployeeCnt01
IRS990ScheduleF/TotalOfficeCnt01
IRS990ScheduleF/TotalSpentAmt018914
IRS990ScheduleF/TransferToForeignCorpInd00
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DIRECTOR PABLO MONTOYA IS THE FATHER-IN-LAW OF DIRECTOR CONNIE FREYDELL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1OFFICERS REVIEW FORM 990 PRIOR TO SIGNING AND FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3PROFESSIONAL FEES - OTHER: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 9,080. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 9,080.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE 2014 BALANCE SHEET IN PART X HAS BEEN RE-STATED TO INCLUDE THE COLOMBIAN BRANCH ASSETS, LIABILITIES AND RETAINED EARNINGS. THE COLOMBIAN INFORMATION WAS NOT AVAILABLE AT THE TIME OF FILING THE 2014 RETURN. ADDITIONAL ADJUSTMENTS HAVE BEEN MADE TO REFLECT CURRENCY TRANSLATION FROM COLOMBIAN PESOS TO U.S. DOLLARS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5CURRENCY TRANSLATION ADJUSTMENTS & PRIOR PERIOD ADJUSTMENTS 8,888.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4PAGE 11, PART X, LINE 32 (A)
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0FL
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt060480
IRS990/TotalAssetsEOYAmt053118
IRS990/TotalAssetsGrp/BOYAmt060480
IRS990/TotalAssetsGrp/EOYAmt053118
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt043097
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt042324
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt020763
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt063087
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0150184
IRS990/TotalLiabilitiesEOYAmt0153784
IRS990/TotalLiabilitiesGrp/BOYAmt0150184
IRS990/TotalLiabilitiesGrp/EOYAmt0153784
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-89704
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-100666
IRS990/TotalOtherCompensationAmt00
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt030
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0110
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt043237
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt060480
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt053118
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0DORAL1 BLDG 3785 NW 82ND AVE NO 107
IRS990/USAddress/CityNm0DORAL
IRS990/USAddress/StateAbbreviationCd0FL
IRS990/USAddress/ZIPCd033166
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0WWW.FORMULASMILES.COM
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0ALBERT NAON JR
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY
ReturnHeader/BusinessOfficerGrp/PhoneNum03055779409
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-11-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FORMULA SMILES INC
ReturnHeader/Filer/BusinessNameControlTxt0FORM
ReturnHeader/Filer/EIN0830370463
ReturnHeader/Filer/PhoneNum03055779409
ReturnHeader/Filer/USAddress/AddressLine1Txt0DORAL1 BLDG 3785 NW 82ND AVE NO 107
ReturnHeader/Filer/USAddress/CityNm0DORAL
ReturnHeader/Filer/USAddress/StateAbbreviationCd0FL
ReturnHeader/Filer/USAddress/ZIPCd033166
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0593540088
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0THE NEILSON COMPANY CHARTERED CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02002 BEACH TRAIL SUITE B
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0INDIAN ROCKS BEACH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd033785
ReturnHeader/PreparerPersonGrp/PhoneNum07275957578
ReturnHeader/PreparerPersonGrp/PreparationDt02016-11-07
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CHARLES S NEILSON
ReturnHeader/ReturnTs02016-11-11T07:08:43-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-01-01
ReturnHeader/TaxPeriodEndDt02015-12-31
ReturnHeader/TaxYr02015

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$53,118
Liabilities
$153,784
Net assets
-$100,666
Revenue
$43,237
Expenses
$63,087
Net income
-$19,850
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.80$0.74$0.05$0.00$0.00$0.00
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.80$0.74$0.06$0.15$0.00$0.14
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.63$0.74$0.11$0.04$0.05$0.01
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.69$1.30$0.61$0.05$0.00$0.05
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.64$1.30$0.65$0.14$0.06$0.07
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.57$1.30$0.73$0.04$0.00$0.04
2016Summary only. Only limited summary data is available for this year.$0.53$1.30$0.77$0.62$0.38$0.24
2015Detailed filing. Detailed filing data is available for this year.$0.53$1.54$1.01$0.43$0.63$0.20
2014Detailed filing. Detailed filing data is available for this year.$0.49$0.98$0.49$0.45$0.67$0.23
2013Summary only. Only limited summary data is available for this year.$0.37$0.64$0.27$2.76$4.41$1.65
2012Summary only. Only limited summary data is available for this year.$1.84$0.46$1.38$4.88$5.15$0.27
2011Summary only. Only limited summary data is available for this year.$1.92$0.27$1.65$3.71$4.56$0.85
2010Summary only. Only limited summary data is available for this year.$2.74$0.24$2.51$4.14$3.86$0.28