Civic Intelligence

Formula Smiles Inc.

990 • Fiscal year 2020 • EIN 83-0370463

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 08, 2021

Organization ProfileWWW.FORMULASMILES.COM
3785 NW 82 Ave Ste 107Doral, FL 33166

(305) 577-9409

Siviq Scores

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

Liabilities / Assets

95th percentile

1.18x

Higher debt load relative to assets than 95% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

99th percentile

17.62x

Higher debt load relative to revenue than 99% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

20th percentile

-24%

Higher net margin than 20% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

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

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Asset Growth

29th percentile

-8.7%

Faster asset growth than 29% of similar nonprofits.

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

Revenue Growth

47th percentile

-17%

Faster revenue growth than 47% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets95th percentile

Assets

Down

$63,101

Down $5,997 (-8.7%) from 2019

Net Assets

Up

-$11,218

Up $49,469 (+82%) from 2019

Liabilities

Down

$74,319

Down $55,466 (-43%) from 2019

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin20th percentile

Revenue

Down

$4,219

Down $862 (-17%) from 2019

Expenses

Up

$5,241

Up $4,943 (+1659%) from 2019

Net Income

Down

-$1,022

Down $5,805 (-121%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth29th 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

2020

Assets$63,101
Liabilities$74,319
Net Assets-$11,218
Open 2020 Filing

Operations Trend

Revenue Growth47th 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

2020

Revenue$4,219
Expenses$5,241
Net Income-$1,022
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 8, 2021
Return Version
2020v4.0
Gross Receipts
$4,219
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 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 recreaction. 'providing the children with a reason to smile'

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$40,047$39,025▼ $1,022
Inventories for Sale or Use$10,319$10,319→ $0
Accounts Receivable$6,951$5,218▼ $1,733
Land, Buildings, and Equipment, Net$2,423$1,501▼ $922
Investments Other Securities$1,914$1,163▼ $751
Total Assets$69,098$63,101▼ $5,997
Other Assets Total$7,444$5,875▼ $1,569
Liabilities
Accounts Payable and Accrued Expenses$114,043$61,611▼ $52,432
Other Liabilities$15,742$12,708▼ $3,034
Total Liabilities$129,785$74,319▼ $55,466
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-60,687$-11,218▲ $49,469
Total Net Assets Fund Balance$-60,687$-11,218▲ $49,469
Total Liabilities and Net Assets / Fund Balance$69,098$63,101▼ $5,997

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$1,501$11,196-
Other Assets Org$5,875--
Compensation and Service Providers
Top Officer Pay76th percentile

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$4,219
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$4,219
Change in Net Assets
$-1,022
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$5,241
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$5,000--$5,000
Fees for Services Other-$241-$241
Total Functional Expenses$5,000$241$0$5,241
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 Related Party$11,299
Accrued Expenses$901
Federal Income Tax$508
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Formula Smiles Inc
EIN
83-0370463
Phone
3055779409
Address
3785 NW 82 AVE STE 107, DORAL, FL 33166

Signing Officer

Name
Albert Naon Jr
Title
Secretary
Phone
3055779049
Signed
2021-11-08

Organization Details

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

Preparer

Firm
Salver Salver Cpas Llp
Address
12550 BISCAYNE BLVD SUITE 701, NORTH MIAMI, FL 33181
Preparer
Seth E Salvercpa
Phone
3058647888
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S 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 recreaction. 'providing the children with a reason to smile'”

Form 990, Page 2, Part III, Line 4D

“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 recreaction. 'providing the children with a reason to smile'”

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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1TO 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 RECREACTION. 'PROVIDING THE CHILDREN WITH A REASON TO SMILE'
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NORTH MIAMI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd033181
ReturnHeader/PreparerPersonGrp/PhoneNum03058647888
ReturnHeader/PreparerPersonGrp/PreparationDt02021-11-08
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SETH E SALVERCPA
ReturnHeader/ReturnTs02021-11-15T09:07:17-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0ALBERT
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0NAON JR
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

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Filings

Displayed year

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

Open filing
Assets
$63,101
Liabilities
$74,319
Net assets
-$11,218
Revenue
$4,219
Expenses
$5,241
Net income
-$1,022
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
2020Detailed filing. Detailed filing data is available for this year.$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