Civic Intelligence

Placemaking Fund

990 • Fiscal year 2023 • EIN 83-0831709

Jun 01, 2022 to May 31, 2023 • Filed on Jan 22, 2024

Organization ProfileWWW.PLACEMAKINGFUND.ORG
177 Baltic StBrooklyn, NY 11201

(917) 520-2796

Siviq Scores

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

Liabilities / Assets

41st percentile

0.09x

Higher debt load relative to assets than 41% of similar nonprofits.

2023 filings • NTEE S • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

78th percentile

0.76x

Higher debt load relative to revenue than 78% of similar nonprofits.

2023 filings • NTEE S • $1M-$5M nonprofits • Source year 2023

Net Margin

4th percentile

-118%

Higher net margin than 4% of similar nonprofits.

2023 filings • NTEE S • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

31st percentile

$0

Higher top officer pay than 31% of similar nonprofits.

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

2023 filings • NTEE S • $1M-$5M nonprofits • Source year 2023

Asset Growth

20th percentile

-6.4%

Faster asset growth than 20% of similar nonprofits.

2023 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

3rd percentile

-77%

Faster revenue growth than 3% of similar nonprofits.

2023 filings • NTEE S • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets41st percentile

Assets

Flat

$1,092,456

Flat from 2023

Net Assets

Flat

$997,447

Flat from 2023

Liabilities

Flat

$95,009

Flat from 2023

Revenue And Expenses
Liabilities / Revenue78th percentileNet Margin4th percentile

Revenue

Flat

$124,773

Flat from 2023

Expenses

Flat

$271,854

Flat from 2023

Net Income

Flat

-$147,081

Flat from 2023

Historical Trend

Balance Sheet Trend

Asset Growth20th percentile

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

$1.5M$1.0M$500K$0Assets 2019: $156,491Liabilities 2019: $82,113Net Assets 2019: $74,3782019Assets 2020: $348,657Liabilities 2020: $191,306Net Assets 2020: $157,3512020Assets 2021: $1,053,465Liabilities 2021: $184,956Net Assets 2021: $868,5092021Assets 2022: $1,167,366Liabilities 2022: $115,271Net Assets 2022: $1,052,0952022Assets 2023: $1,092,456Liabilities 2023: $95,009Net Assets 2023: $997,4472023Assets 2023: $1,092,456Liabilities 2023: $95,009Net Assets 2023: $997,4472023

Highlighted filing

2023

Assets$1,092,456
Liabilities$95,009
Net Assets$997,447
Open 2023 Filing

Operations Trend

Revenue Growth3rd percentile

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

$1.0M$500K$0-$500KRevenue 2019: $217,939Expenses 2019: $143,561Net Income 2019: $74,3782019Revenue 2020: $249,863Expenses 2020: $166,890Net Income 2020: $82,9732020Revenue 2021: $732,082Expenses 2021: $159,490Net Income 2021: $572,5922021Revenue 2022: $534,551Expenses 2022: $254,096Net Income 2022: $280,4552022Revenue 2023: $124,773Expenses 2023: $271,854Net Income 2023: -$147,0812023Revenue 2023: $124,773Expenses 2023: $271,854Net Income 2023: -$147,0812023

Highlighted filing

2023

Revenue$124,773
Expenses$271,854
Net Income-$147,081
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jun 1, 2022 to May 31, 2023
Signed
Jan 22, 2024
Return Version
2022v5.0
Gross Receipts
$558,536
Mission and Program Overview

Mission

The organization will work to (a) educate and inform the general and public communities about the importance of public spaces, including parks, squares, plazas, and other public areas, in building and sustaining strong, healthy communities, (b) improve community conditions and foster and support civic engagements by developing and maintaining public spaces and providing community members, particularly those who are underrepresented or underserved, with the resources and skills to access and transform those spaces, and (c) foster, support, and conduct programs, projects, and activities consistent with the foregoing.

The organization aims to (a) educate and inform the general and public communities about the importance of public spaces, including parks, squares, plazas, and other public areas, in building and sustaining strong, healthy communities, (b) improve community conditions and foster and support civic engagements by developing and maintaining public spaces and providing community members, particularly those who are underrepresented or underserved, with the resources and skills to access and transform those spaces, and (c) foster, support, and conduct programs, projects, and activities consistent with the foregoing.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$976,431$968,031▼ $8,400
Savings and Temporary Cash Investments$153,363$89,677▼ $63,686
Cash and Non-Interest-Bearing Accounts$37,572$34,748▼ $2,824
Total Assets$1,167,366$1,092,456▼ $74,910
Liabilities
Other Liabilities$79,611$79,611→ $0
Accounts Payable and Accrued Expenses$35,660$15,398▼ $20,262
Total Liabilities$115,271$95,009▼ $20,262
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,052,095$997,447▼ $54,648
Total Net Assets Fund Balance$1,052,095$997,447▼ $54,648
Total Liabilities and Net Assets / Fund Balance$1,167,366$1,092,456▼ $74,910
Compensation and Service Providers
Top Officer Pay31st percentile

Board Members and Trustees

NameTitle
Stephen DaviesPresident, S
Kathleen a MaddenBoard Member
Fred Kent IiiVice-pres.,t
Revenue and Support

Revenue Composition

Contributions and Grants
$70,059
Program Service Revenue
$87,246
Investment Income
$-32,532
Other Revenue
$0
All Other Contributions
$70,059
Change in Net Assets
$-147,081
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$154,203
Other Expenses$117,651
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$131,370$11,790-$143,160
Fees for Services Other$75,530--$75,530
Fees for Services Accounting$10,220$10,220-$20,440
Payroll Taxes$10,285$758-$11,043
Travel$6,478--$6,478
Fees for Service Investment Mgmnt Fees-$6,365-$6,365
Insurance$2,584--$2,584
Information Technology$2,444--$2,444
Office Expenses$535$535-$1,070
Other Expenses$713$528-$528
All Other Expenses$73--$73
Total Functional Expenses$240,232$31,622$0$271,854
International Activity

International Summary

Spending
$10,000

International Compliance

Foreign grant records maintained
No
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
MexicoPlacemakingPlacemaking--$10,000
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Joshua KentSee Part VEmployeeNo$95,580
Ethan KentSee Part VEmployeeNo$47,580
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Advances Payable$79,611
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
Yes
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
No

Governance Explanations

Form 990, Page 6, Part VI, Line 2

“Fred kent iii kathy madden vice pres. Board member spouse”

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

“Form 990 is reviewed and approved by board members”

Form 990, Page 6, Part VI, Line 12C

“Review potential conflicts on a regular basis”

Form 990, Page 6, Part VI, Line 15A

“Board of directors determines reasonable compensation for officers, agents, and employees. The amount may be fixed from time to time by the board.”

Form 990, Page 6, Part VI, Line 19

“Documents are made available upon request”

Filing and Contact Details

Filer

Filer Name
Placemaking Fund
EIN
83-0831709
Phone
9175202796
Address
177 BALTIC ST, BROOKLYN, NY 11201

Signing Officer

Name
Fred Kent Iii
Title
Vice-pres.,treasurer
Phone
9175202796
Signed
2024-01-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stephen Davies
Formed
2018
Legal Domicile
De
Voting Board Members
2
Independent Board Members
2
Employees
2
Volunteers
150

Preparer

Firm
Horowitz & Ullmann Pc
Address
232 MADISON AVE SUITE 1200, NEW YORK, NY 10016-2928
Preparer
Stewart Hung
Phone
2125323736
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The organization aims to (a) educate and inform the general and public communities about the importance of public spaces, including parks, squares, plazas, and other public areas, in building and sustaining strong, healthy communities, (b) improve community conditions and foster and support civic engagements by developing and maintaining public spaces and providing community members, particularly those who are underrepresented or underserved, with the resources and skills to access and transform those spaces, and (c) foster, support, and conduct programs, projects, and activities consistent with the foregoing.”

Form 990, Part IX, Line 11G

“CONSULTANTS 75,530 0 0”

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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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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0JOSHUA KENT
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm1ETHAN KENT
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0SEE PART V
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt1SEE PART V
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd1false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt095580
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt147580
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0EMPLOYEE
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc1EMPLOYEE
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0JOSHUA KENT IS THE SON OF FRED KENT III, THE VICE PRESIDENT/TREAUSURER OF THE ENTITY. HIS TITLES INCLUDE MANAGING DIRECTOR OF PLACEMAKINGX (PROGRAM OF PLACEMAKING FUND) AND MANAGING DIRECTOR OF PLACEMAKING FUND. ETHAN KENT IS THE SON OF FRED KENT III, THE VICE PRESIDENT/TREAUSURER OF THE ENTITY.
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE L, PART V
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION AIMS TO (A) EDUCATE AND INFORM THE GENERAL AND PUBLIC COMMUNITIES ABOUT THE IMPORTANCE OF PUBLIC SPACES, INCLUDING PARKS, SQUARES, PLAZAS, AND OTHER PUBLIC AREAS, IN BUILDING AND SUSTAINING STRONG, HEALTHY COMMUNITIES, (B) IMPROVE COMMUNITY CONDITIONS AND FOSTER AND SUPPORT CIVIC ENGAGEMENTS BY DEVELOPING AND MAINTAINING PUBLIC SPACES AND PROVIDING COMMUNITY MEMBERS, PARTICULARLY THOSE WHO ARE UNDERREPRESENTED OR UNDERSERVED, WITH THE RESOURCES AND SKILLS TO ACCESS AND TRANSFORM THOSE SPACES, AND (C) FOSTER, SUPPORT, AND CONDUCT PROGRAMS, PROJECTS, AND ACTIVITIES CONSISTENT WITH THE FOREGOING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FRED KENT III KATHY MADDEN VICE PRES. BOARD MEMBER SPOUSE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 IS REVIEWED AND APPROVED BY BOARD MEMBERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3REVIEW POTENTIAL CONFLICTS ON A REGULAR BASIS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4BOARD OF DIRECTORS DETERMINES REASONABLE COMPENSATION FOR OFFICERS, AGENTS, AND EMPLOYEES. THE AMOUNT MAY BE FIXED FROM TIME TO TIME BY THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5DOCUMENTS ARE MADE AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6CONSULTANTS 75,530 0 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART IX, LINE 11G
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01167366
IRS990/TotalAssetsEOYAmt01092456
IRS990/TotalAssetsGrp/BOYAmt01167366
IRS990/TotalAssetsGrp/EOYAmt01092456
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt070059
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt031622
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0240232
IRS990/TotalFunctionalExpensesGrp/TotalAmt0271854
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0115271
IRS990/TotalLiabilitiesEOYAmt095009
IRS990/TotalLiabilitiesGrp/BOYAmt0115271
IRS990/TotalLiabilitiesGrp/EOYAmt095009
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01052095
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0997447
IRS990/TotalProgramServiceExpensesAmt0240232
IRS990/TotalProgramServiceRevenueAmt087246
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt054714
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0124773
IRS990/TotalVolunteersCnt0150
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01167366
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01092456
IRS990/TravelGrp/ProgramServicesAmt06478
IRS990/TravelGrp/TotalAmt06478
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0177 BALTIC STREET
IRS990/USAddress/CityNm0BROOKLYN
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd011201
IRS990/VotingMembersGoverningBodyCnt02
IRS990/VotingMembersIndependentCnt02
IRS990/WebsiteAddressTxt0WWW.PLACEMAKINGFUND.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0FRED KENT III
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0VICE-PRES.,TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum09175202796
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-01-22
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PLACEMAKING FUND
ReturnHeader/Filer/BusinessNameControlTxt0PLAC
ReturnHeader/Filer/EIN0830831709
ReturnHeader/Filer/PhoneNum09175202796
ReturnHeader/Filer/USAddress/AddressLine1Txt0177 BALTIC ST
ReturnHeader/Filer/USAddress/CityNm0BROOKLYN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd011201
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0132744858
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HOROWITZ & ULLMANN PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0232 MADISON AVE SUITE 1200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NEW YORK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0100162928
ReturnHeader/PreparerPersonGrp/PhoneNum02125323736
ReturnHeader/PreparerPersonGrp/PreparationDt02024-01-22
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STEWART HUNG
ReturnHeader/ReturnTs02024-01-22T10:54:48-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0FRED
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0KENT
ReturnHeader/TaxPeriodBeginDt02022-06-01
ReturnHeader/TaxPeriodEndDt02023-05-31
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,092,456
Liabilities
$95,009
Net assets
$997,447
Revenue
$124,773
Expenses
$271,854
Net income
-$147,081
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$1.09$0.10$1.00$0.12$0.27$0.15
2023Summary only. Only limited summary data is available for this year.$1.09$0.10$1.00$0.12$0.27$0.15
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.17$0.12$1.05$0.53$0.25$0.28
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.05$0.18$0.87$0.73$0.16$0.57
2020Summary only. Only limited summary data is available for this year.$0.35$0.19$0.16$0.25$0.17$0.08
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.16$0.08$0.07$0.22$0.14$0.07