Civic Intelligence

New Leaf National Trust Inc.

990 • Fiscal year 2021 • EIN 83-0614420

Jan 01, 2021 to Dec 31, 2021 • Filed on May 31, 2022

Organization ProfileWWW.NEWLEAFSNT.ORG
PO Box 501877Indianapolis, IN 46250-6877

(317) 841-8795

Siviq Scores

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

Liabilities / Assets

94th percentile

1.03x

Higher debt load relative to assets than 94% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Liabilities / Revenue

99th percentile

67.92x

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

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Net Margin

2nd percentile

-111%

Higher net margin than 2% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Top Officer Pay

23rd percentile

$100,000

Higher top officer pay than 23% of similar nonprofits.

Top officer pay equals 36.2% of source-year revenue.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Asset Growth

92nd percentile

62%

Faster asset growth than 92% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Revenue Growth

73rd percentile

35%

Faster revenue growth than 73% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets94th percentile

Assets

Up

$18,253,406

Up $7,006,509 (+62%) from 2020

Net Assets

Down

-$519,780

Down $365,190 (-236%) from 2020

Liabilities

Up

$18,773,186

Up $7,371,699 (+65%) from 2020

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin2nd percentile

Revenue

Up

$276,399

Up $72,241 (+35%) from 2020

Expenses

Up

$582,001

Up $207,354 (+55%) from 2020

Net Income

Down

-$305,602

Down $135,113 (-79%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth92nd percentile

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

$20M$10M$0-$10MAssets 2020: $11,246,897Liabilities 2020: $11,401,487Net Assets 2020: -$154,5902020Assets 2021: $18,253,406Liabilities 2021: $18,773,186Net Assets 2021: -$519,7802021Assets 2022: $14,326,152Liabilities 2022: $15,240,776Net Assets 2022: -$914,6242022Assets 2023: $17,201,640Liabilities 2023: $18,361,016Net Assets 2023: -$1,159,3762023Assets 2024: $16,709,185Liabilities 2024: $18,174,142Net Assets 2024: -$1,464,9572024

Highlighted filing

2021

Assets$18,253,406
Liabilities$18,773,186
Net Assets-$519,780
Open 2021 Filing

Operations Trend

Revenue Growth73rd percentile

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

$1.0M$500K$0-$500KRevenue 2020: $204,158Expenses 2020: $374,647Net Income 2020: -$170,4892020Revenue 2021: $276,399Expenses 2021: $582,001Net Income 2021: -$305,6022021Revenue 2022: $169,838Expenses 2022: $564,682Net Income 2022: -$394,8442022Revenue 2023: $371,685Expenses 2023: $616,437Net Income 2023: -$244,7522023Revenue 2024: $391,654Expenses 2024: $697,235Net Income 2024: -$305,5812024

Highlighted filing

2021

Revenue$276,399
Expenses$582,001
Net Income-$305,602
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
May 31, 2022
Return Version
2021v4.2
Gross Receipts
$276,399
Mission and Program Overview

Mission

To provide medicaid, ssi and other means-tested benefits recipients who have been injured in a personal injury, medical malpractice, class action, or other lawsuits with the finest, most compassionate and fastest service available from a pooled special needs trust-and to do so with the utmost of competence, legal expertise, and understanding.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$11,126$57,077▲ $45,951
Total Assets$17,590,711$18,253,406▲ $662,695
Other Assets Total$17,579,585$18,196,329▲ $616,744
Liabilities
Escrow Account Liability$17,539,245$18,183,299▲ $644,054
Other Liabilities$260,565$589,887▲ $329,322
Total Liabilities$17,799,810$18,773,186▲ $973,376
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-209,099$-519,780▼ $310,681
Total Net Assets Fund Balance$-209,099$-519,780▼ $310,681
Total Liabilities and Net Assets / Fund Balance$17,590,711$18,253,406▲ $662,695

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$18,196,329--
Compensation and Service Providers
Top Officer Pay23rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Wes CosgriffDirectorFT$100,000$100,000
Kenn BarbeeDirectorFT$75,000$75,000

Board Members and Trustees

NameTitle
Larry CaglePresident
Kirk LeblancVice President
Bob HoganDirector
Jeffrey L BinkleyDirector
Kevin ClasenDirector
Matt RaymondDirector
Susan HargroveSecretary
Gary NeadTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$133
Program Service Revenue
$276,266
Investment Income
$0
Other Revenue
$0
All Other Contributions
$133
Change in Net Assets
$-305,602
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$415,919
Other Expenses$166,082
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$384,270--$384,270
Fees for Services Management$92,371--$92,371
Payroll Taxes$31,649--$31,649
Office Expenses$11,075--$11,075
Insurance$8,609--$8,609
Information Technology$8,222--$8,222
Fees for Services Accounting$6,346--$6,346
Advertising$2,833--$2,833
Fees for Services Legal$2,801--$2,801
Travel$2,022--$2,022
Other Expenses$1,183$3,153-$1,183
All Other Expenses$899$27-$926
Total Functional Expenses$578,821$3,180$0$582,001
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
Loan From the National Foundation for Special Needs Integrity$439,887
Sba Eidl Loan$150,000
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
Yes
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
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“New leaf national trust used professional business services of indiana, llc (pbs) to perform some contract, management consulting and marketing services (26-3803191). Pbs billed new leaf national trust $42,863.83 and was paid $42,305.57 for the twelve months ended 12/31/2021. Gary nead is a non-owner employee of pbs. Gary nead is the treasurer of the board of new leaf national trust inc.”

Form 990, Part VI, Section B, Line 11B

“The return is submitted to the board of directors for their review and approval prior to filing.”

Form 990, Part VI, Section B, Line 12C

“Key officers are required to disclose annual interest that could give rise to conflicts. The taxpayer did regularly and consistently monitor and enforce compliance.”

Form 990, Part VI, Section B, Line 15A

“To determine the top executive salary, new leaf national trust followed a written executive compensation policy which included review and approval by independent persons, comparability data and contemporaneous substantiation of the deliberation and decision.”

Form 990, Part VI, Section C, Line 18

“The documents are available to the public upon request.”

Form 990, Part VI, Section C, Line 19

“THE PRESIDENT PROVIDES.”

Filing and Contact Details

Filer

Filer Name
New Leaf National Trust
EIN
83-0614420
Phone
3178418795
Address
PO BOX 501877, INDIANAPOLIS, IN 46250-6877

Signing Officer

Name
Larry Cagle
Title
President
Phone
3178418795
Signed
2022-05-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Larry Cagle
Formed
2019
Legal Domicile
In
Voting Board Members
8
Independent Board Members
8
Employees
10
Volunteers
0

Preparer

Firm
Somerset Cpas and Advisors
Address
3925 RIVER CROSSING PKWY STE 100, INDIANAPOLIS, IN 46240
Preparer
Matthew W Utterback CPA
Phone
3174722200
Supplemental Narrative

Financial Statement Notes

PART IV, LINE 2B:

“The assets are for beneficiaries only. The new leaf national trust acts as a trustee and provides pooled trust services to disable individuals. The organization holds funds in custodial accounts. A trust escrow asset and associated escrow liability are presented on the balance sheet.”

Raw XML Appendix386 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/OtherLiabilitiesOrgGrp/Amt0150000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1439887
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SBA EIDL LOAN
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1LOAN FROM THE NATIONAL FOUNDATION FOR SPECIAL NEEDS INTEGRITY
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ASSETS ARE FOR BENEFICIARIES ONLY. THE NEW LEAF NATIONAL TRUST ACTS AS A TRUSTEE AND PROVIDES POOLED TRUST SERVICES TO DISABLE INDIVIDUALS. THE ORGANIZATION HOLDS FUNDS IN CUSTODIAL ACCOUNTS. A TRUST ESCROW ASSET AND ASSOCIATED ESCROW LIABILITY ARE PRESENTED ON THE BALANCE SHEET.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART IV, LINE 2B:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueOtherAssetsAmt018196329
IRS990ScheduleD/TotalLiabilityAmt0589887
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0NEW LEAF NATIONAL TRUST USED PROFESSIONAL BUSINESS SERVICES OF INDIANA, LLC (PBS) TO PERFORM SOME CONTRACT, MANAGEMENT CONSULTING AND MARKETING SERVICES (26-3803191). PBS BILLED NEW LEAF NATIONAL TRUST $42,863.83 AND WAS PAID $42,305.57 FOR THE TWELVE MONTHS ENDED 12/31/2021. GARY NEAD IS A NON-OWNER EMPLOYEE OF PBS. GARY NEAD IS THE TREASURER OF THE BOARD OF NEW LEAF NATIONAL TRUST INC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE RETURN IS SUBMITTED TO THE BOARD OF DIRECTORS FOR THEIR REVIEW AND APPROVAL PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2KEY OFFICERS ARE REQUIRED TO DISCLOSE ANNUAL INTEREST THAT COULD GIVE RISE TO CONFLICTS. THE TAXPAYER DID REGULARLY AND CONSISTENTLY MONITOR AND ENFORCE COMPLIANCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3TO DETERMINE THE TOP EXECUTIVE SALARY, NEW LEAF NATIONAL TRUST FOLLOWED A WRITTEN EXECUTIVE COMPENSATION POLICY WHICH INCLUDED REVIEW AND APPROVAL BY INDEPENDENT PERSONS, COMPARABILITY DATA AND CONTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATION AND DECISION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE PRESIDENT PROVIDES.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0IN
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt017590711
IRS990/TotalAssetsEOYAmt018253406
IRS990/TotalAssetsGrp/BOYAmt017590711
IRS990/TotalAssetsGrp/EOYAmt018253406
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0133
IRS990/TotalEmployeeCnt010
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt03180
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0578821
IRS990/TotalFunctionalExpensesGrp/TotalAmt0582001
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt017799810
IRS990/TotalLiabilitiesEOYAmt018773186
IRS990/TotalLiabilitiesGrp/BOYAmt017799810
IRS990/TotalLiabilitiesGrp/EOYAmt018773186
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-209099
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-519780
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0578821
IRS990/TotalProgramServiceRevenueAmt0276266
IRS990/TotalReportableCompFromOrgAmt0175000
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0276266
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0276399
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt017590711
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt018253406
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt02022
IRS990/TravelGrp/TotalAmt02022
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 501877
IRS990/USAddress/CityNm0INDIANAPOLIS
IRS990/USAddress/StateAbbreviationCd0IN
IRS990/USAddress/ZIPCd0462506877
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0WWW.NEWLEAFSNT.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0LARRY CAGLE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum03178418795
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-05-31
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0NEW LEAF NATIONAL TRUST
ReturnHeader/Filer/BusinessNameControlTxt0NEWL
ReturnHeader/Filer/EIN0830614420
ReturnHeader/Filer/PhoneNum03178418795
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 501877
ReturnHeader/Filer/USAddress/CityNm0INDIANAPOLIS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IN
ReturnHeader/Filer/USAddress/ZIPCd0462506877
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0201717681
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SOMERSET CPAS AND ADVISORS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03925 RIVER CROSSING PKWY STE 100
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0INDIANAPOLIS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd046240
ReturnHeader/PreparerPersonGrp/PhoneNum03174722200
ReturnHeader/PreparerPersonGrp/PreparationDt02022-05-31
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MATTHEW W UTTERBACK CPA
ReturnHeader/ReturnTs02022-06-15T07:44:28-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0LARRY
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0CAGLE
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$18,253,406
Liabilities
$18,773,186
Net assets
-$519,780
Revenue
$276,399
Expenses
$582,001
Net income
-$305,602
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$16.7$18.2$1.46$0.39$0.70$0.31
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$17.2$18.4$1.16$0.37$0.62$0.24
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.3$15.2$0.91$0.17$0.56$0.39
2021Detailed filing. Detailed filing data is available for this year.$18.3$18.8$0.52$0.28$0.58$0.31
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$11.2$11.4$0.15$0.20$0.37$0.17