Civic Intelligence

Sheth Global Foundation Inc.

990 • Fiscal year 2021 • EIN 83-4222626

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 15, 2022

191 Peachtree Street NE 1000Atlanta, GA 30303

(404) 688-5525

Siviq Scores

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

Liabilities / Assets

17th percentile

0.01x

Higher debt load relative to assets than 17% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Liabilities / Revenue

30th percentile

0.06x

Higher debt load relative to revenue than 30% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Net Margin

87th percentile

51%

Higher net margin than 87% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Top Officer Pay

68th percentile

$162,678

Higher top officer pay than 68% of similar nonprofits.

Top officer pay equals 28.4% of source-year revenue.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Asset Growth

52nd percentile

10%

Faster asset growth than 52% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Revenue Growth

67th percentile

27%

Faster revenue growth than 67% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Assets

Up

$6,287,731

Up $589,262 (+10%) from 2020

Net Assets

Up

$6,252,315

Up $594,584 (+11%) from 2020

Liabilities

Down

$35,416

Down $5,322 (-13%) from 2020

Revenue

Up

$572,200

Up $122,200 (+27%) from 2020

Expenses

Up

$277,968

Up $178,925 (+181%) from 2020

Net Income

Down

$294,232

Down $56,725 (-16%) from 2020

Historical Trend

Balance Sheet Trend

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2019: $1Liabilities 2019: $0Net Assets 2019: $02019Assets 2020: $5,698,469Liabilities 2020: $40,738Net Assets 2020: $5,657,7312020Assets 2021: $6,287,731Liabilities 2021: $35,416Net Assets 2021: $6,252,3152021Assets 2022: $6,005,432Liabilities 2022: $31,000Net Assets 2022: $5,974,4322022Assets 2023: $6,433,419Liabilities 2023: $45,000Net Assets 2023: $6,388,4192023Assets 2024: $6,709,355Liabilities 2024: $0Net Assets 2024: $6,709,3552024

Highlighted filing

2021

Assets$6,287,731
Liabilities$35,416
Net Assets$6,252,315

Operations Trend

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

$1.5M$1.0M$500K$0-$500K-$1.0MRevenue 2019: $0Expenses 2019: $0Net Income 2019: $02019Revenue 2020: $450,000Expenses 2020: $99,043Net Income 2020: $350,9572020Revenue 2021: $572,200Expenses 2021: $277,968Net Income 2021: $294,2322021Revenue 2022: $800,000Expenses 2022: $145,894Net Income 2022: $654,1062022Revenue 2023: $169,507Expenses 2023: $222,113Net Income 2023: -$52,6062023Revenue 2024: $631,620Expenses 2024: $1,256,792Net Income 2024: -$625,1722024

Highlighted filing

2021

Revenue$572,200
Expenses$277,968
Net Income$294,232
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 15, 2022
Return Version
2021v4.2
Gross Receipts
$4,127,789
Mission and Program Overview

Mission

To support the community foundation for greater atlanta, inc.

The mission of the sheth global foundation is to carry out the purposes of the community foundation for greater atlanta. This will be accomplished by two divisions sheth education foundation and sheth foundation to promote the development of marketing scholarship by focusing on three areas:- knowledge creation: the generation of new marketing insights and scholarship- knowledge recognition: includes awards, grants and other activities designed to express appreciation and elevate the contributions of individual academics- knowledge dissemination: the communication or distribution of insights on new and emerging marketing topics within the field of marketing and businessthe sheth foundation supports various organizations, awards and events that fulfill these goals.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$5,608,484$5,665,627▲ $57,143
Cash and Non-Interest-Bearing Accounts$89,985$428,079▲ $338,094
Total Assets$5,698,469$6,287,731▲ $589,262
Other Assets Total$0$194,025▲ $194,025
Liabilities
Grants Payable$40,000$30,000▼ $10,000
Accounts Payable and Accrued Expenses$738$5,416▲ $4,678
Total Liabilities$40,738$35,416▼ $5,322
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$5,657,731$6,252,315▲ $594,584
Total Net Assets Fund Balance$5,657,731$6,252,315▲ $594,584
Total Liabilities and Net Assets / Fund Balance$5,698,469$6,287,731▲ $589,262
Compensation and Service Providers

Board Members and Trustees

NameTitle
Jagdish N ShethPresident
Ken BernhardtVice President
Ruth N BoltonVice President
ALISON L O'CARROLLDirector
Doug BowmanTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$150,000
Program Service Revenue
$0
Investment Income
$422,200
Other Revenue
$0
Change in Net Assets
$294,232

Audited Revenue Reconciliation

Revenue per Audited Statements
$572,200
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$119,891
Total Revenue per Audited Statements
$692,091
Total Revenue per Form 990
$572,200
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$210,715
Other Expenses$67,253
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$210,715--$210,715
Fees for Service Investment Mgmnt Fees-$57,491-$57,491
Fees for Services Accounting-$5,415-$5,415
Information Technology-$2,950-$2,950
Other Expenses$854--$854
Office Expenses-$543-$543
Total Functional Expenses$211,569$66,399$0$277,968

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$277,968
Total Expenses per Audited Statements$277,968
Total Expenses per Form 990$277,968
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Association for Consumer ResearchDuluth, MN501(c)(3)NICOSIA BEST PAPER; LTC AWARD; DISSERTATION AWARDS$172,715
Academy of International BusinessEast Lansing, MI501(c)(3)Operational Support$14,500
European Marketing AcademyAtlanta, GA-Sheth Foundation Sustainability Research Competition$13,000
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
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, Part VI, Section A, Line 8B

The board is responsible for oversight. As such, there are no other committees.

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

A copy of the form 990 was provided to the entire governing board for review before filing with the internal revenue service.

Form 990, Part VI, Section C, Line 19

Documents are made available upon request.

Filing and Contact Details

Filer

Filer Name
Sheth Global Foundation Inc
EIN
83-4222626
Phone
4046885525
Address
191 PEACHTREE STREET NE 1000, ATLANTA, GA 30303

Signing Officer

Name
Doug Bowman
Title
Treasurer
Phone
4046885525
Signed
2022-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Doug Bowman
Formed
2019
Legal Domicile
Ga
Voting Board Members
5
Independent Board Members
4
Employees
0
Volunteers
4

Preparer

Firm
Mauldin & Jenkins LLC
Address
200 GALLERIA PKWY SE STE 1700, ATLANTA, GA 30339-5946
Preparer
Jeff T Fucito
Phone
7709558600
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Change in csv life insurance 194,025.

Financial Statement Notes

PART X, LINE 2:

The foundation follows fasb's guidance for accounting for uncertainty in income tax (asc 740, accounting for uncertainty in income taxes), which creates a single model to address uncertain tax positions and clarifies the accounting for income taxes by prescribing a "more likely than not" minimum recognition threshold that a tax position is required to meet before being recognized in the financial statements. Under the requirements, tax-exempt foundations may be required to record an obligation as the result of a tax position they have historically taken on various tax exposure items. Management believes any liability resulting from taxing authorities imposing additional income taxes from activities deemed to be unrelated to the foundation's tax-exempt status would not have a material effect on the foundation's financial statements. At december 31, 2021, no liabilities were recorded for uncertain tax positions.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Change in csv life insurance 13,564.

Raw XML AppendixShowing 400 of 442 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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IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE PRESIDENT
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IRS990ScheduleD/RevenueNotReportedAmt0119891
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0572200
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION FOLLOWS FASB'S GUIDANCE FOR ACCOUNTING FOR UNCERTAINTY IN INCOME TAX (ASC 740, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES), WHICH CREATES A SINGLE MODEL TO ADDRESS UNCERTAIN TAX POSITIONS AND CLARIFIES THE ACCOUNTING FOR INCOME TAXES BY PRESCRIBING A "MORE LIKELY THAN NOT" MINIMUM RECOGNITION THRESHOLD THAT A TAX POSITION IS REQUIRED TO MEET BEFORE BEING RECOGNIZED IN THE FINANCIAL STATEMENTS. UNDER THE REQUIREMENTS, TAX-EXEMPT FOUNDATIONS MAY BE REQUIRED TO RECORD AN OBLIGATION AS THE RESULT OF A TAX POSITION THEY HAVE HISTORICALLY TAKEN ON VARIOUS TAX EXPOSURE ITEMS. MANAGEMENT BELIEVES ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING ADDITIONAL INCOME TAXES FROM ACTIVITIES DEEMED TO BE UNRELATED TO THE FOUNDATION'S TAX-EXEMPT STATUS WOULD NOT HAVE A MATERIAL EFFECT ON THE FOUNDATION'S FINANCIAL STATEMENTS. AT DECEMBER 31, 2021, NO LIABILITIES WERE RECORDED FOR UNCERTAIN TAX POSITIONS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1CHANGE IN CSV LIFE INSURANCE 13,564.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 2D - OTHER ADJUSTMENTS:
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IRS990ScheduleD/TotalExpensesPerForm990Amt0277968
IRS990ScheduleD/TotalRevenuePerForm990Amt0572200
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0692091
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0277968
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt014500
IRS990ScheduleI/RecipientTable/CashGrantAmt1172715
IRS990ScheduleI/RecipientTable/CashGrantAmt213000
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc1501(C)(3)
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt10
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt20
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0OPERATIONAL SUPPORT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1NICOSIA BEST PAPER; LTC AWARD; DISSERTATION AWARDS
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2SHETH FOUNDATION SUSTAINABILITY RESEARCH COMPETITION
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0ACADEMY OF INTERNATIONAL BUSINESS
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1ASSOCIATION FOR CONSUMER RESEARCH
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2EUROPEAN MARKETING ACADEMY
IRS990ScheduleI/RecipientTable/RecipientEIN0300876454
IRS990ScheduleI/RecipientTable/RecipientEIN1581300867
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0667 NSHAW LN 4
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1115 CHESTER PKWY BLDG 31
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt2935 EAST CONFEDERATE AVE SE PO BOX
IRS990ScheduleI/RecipientTable/USAddress/AddressLine2Txt018055
IRS990ScheduleI/RecipientTable/USAddress/CityNm0EAST LANSING
IRS990ScheduleI/RecipientTable/USAddress/CityNm1DULUTH
IRS990ScheduleI/RecipientTable/USAddress/CityNm2ATLANTA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0MI
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1MN
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd2GA
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IRS990ScheduleI/TotalOtherOrgCnt00
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IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0ALISON L O'CARROLL
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0DIRECTOR
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD IS RESPONSIBLE FOR OVERSIGHT. AS SUCH, THERE ARE NO OTHER COMMITTEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF THE FORM 990 WAS PROVIDED TO THE ENTIRE GOVERNING BOARD FOR REVIEW BEFORE FILING WITH THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DOCUMENTS ARE MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CHANGE IN CSV LIFE INSURANCE 194,025.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 9:
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IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0THE COMMUNITY FOUNCATION FOR GREATER ATLANTA INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0581344646
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0PHILANTHROPIC SERVICES AND GRANTS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 7
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0191 PEACHTREE STREET NE SUITE 1000
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0ATLANTA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0GA
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IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
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IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
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IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransferFromOtherOrgInd00
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IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt05698469
IRS990/TotalAssetsEOYAmt06287731
IRS990/TotalAssetsGrp/BOYAmt05698469
IRS990/TotalAssetsGrp/EOYAmt06287731
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalContributionsAmt0150000
IRS990/TotalEmployeeCnt00
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt066399
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0211569
IRS990/TotalFunctionalExpensesGrp/TotalAmt0277968
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt040738
IRS990/TotalLiabilitiesEOYAmt035416
IRS990/TotalLiabilitiesGrp/BOYAmt040738
IRS990/TotalLiabilitiesGrp/EOYAmt035416
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt05657731
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt06252315
IRS990/TotalOtherCompensationAmt03194
IRS990/TotalProgramServiceExpensesAmt0211569
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0422200
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0572200
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt04
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IRS990/TotReportableCompRltdOrgAmt0159484
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00

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