Civic Intelligence

Aspen Valley Medical Foundation

990 • Fiscal year 2014 • EIN 84-0643721

Jan 01, 2014 to Dec 31, 2014 • Filed on Oct 29, 2015

PO Box 1639Aspen, CO 81612

(970) 544-1298

Siviq Scores

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

Liabilities / Assets

99th percentile

2.13x

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

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

88th percentile

1.50x

Higher debt load relative to revenue than 88% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

1st percentile

-8851%

Higher net margin than 1% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

34th percentile

$0

Higher top officer pay than 34% of similar nonprofits.

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

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Asset Growth

1st percentile

-99%

Faster asset growth than 1% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

1st percentile

-98%

Faster revenue growth than 1% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Assets

Down

$33,088

Down $5,501,474 (-99%) from 2013

Net Assets

Down

-$37,506

Down $4,142,802 (-101%) from 2013

Liabilities

Down

$70,594

Down $1,358,672 (-95%) from 2013

Revenue

Down

$47,205

Down $2,697,660 (-98%) from 2013

Expenses

Up

$4,225,232

Up $1,458,771 (+53%) from 2013

Net Income

Down

-$4,178,027

Down $4,156,431 (-19246%) from 2013

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0-$5.0MAssets 2010: $11,228,403Liabilities 2010: $2,669,668Net Assets 2010: $8,558,7352010Assets 2011: $10,296,426Liabilities 2011: $2,465,797Net Assets 2011: $7,830,6292011Assets 2012: $8,085,423Liabilities 2012: $2,837,170Net Assets 2012: $5,248,2532012Assets 2013: $5,534,562Liabilities 2013: $1,429,266Net Assets 2013: $4,105,2962013Assets 2014: $33,088Liabilities 2014: $70,594Net Assets 2014: -$37,5062014Assets 2015: $13,182Liabilities 2015: $11,317Net Assets 2015: $1,8652015Assets 2016: $0Liabilities 2016: $0Net Assets 2016: $02016

Highlighted filing

2014

Assets$33,088
Liabilities$70,594
Net Assets-$37,506

Operations Trend

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

$5.0M$0-$5.0MExpenses 2010: $2,791,2912010Revenue 2011: $2,955,641Expenses 2011: $2,751,616Net Income 2011: $204,0252011Revenue 2012: $1,192,596Expenses 2012: $3,680,559Net Income 2012: -$2,487,9632012Revenue 2013: $2,744,865Expenses 2013: $2,766,461Net Income 2013: -$21,5962013Revenue 2014: $47,205Expenses 2014: $4,225,232Net Income 2014: -$4,178,0272014Revenue 2015: $34,002Expenses 2015: $34,555Net Income 2015: -$5532015Revenue 2016: $1,302Expenses 2016: $14,032Net Income 2016: -$12,7302016

Highlighted filing

2014

Revenue$47,205
Expenses$4,225,232
Net Income-$4,178,027
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Oct 29, 2015
Return Version
2014v5.0
Gross Receipts
$1,533,055
Mission and Program Overview

Mission

Provides financial resources and philanthropic leadership to meet rising health and human needs in the roaring fork valley for health care, health and human service organizations and the community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,968,113--
Land, Buildings, and Equipment, Net$1,391,570--
Loans From Officers Directors$125,000--
Savings and Temporary Cash Investments$25,853$32,762▲ $6,909
Accounts Receivable$6,698--
Cash and Non-Interest-Bearing Accounts$239,058$326▼ $238,732
Other Assets Total$1,903,270$0▼ $1,903,270
Total Assets$5,534,562$33,088▼ $5,501,474
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,108,081--
Accounts Payable and Accrued Expenses$118,038$54,637▼ $63,401
Other Liabilities$78,147$15,957▼ $62,190
Total Liabilities$1,429,266$70,594▼ $1,358,672
Net Assets / Fund Balance
Temporarily Rstr Net Assets$2,567,649$0▼ $2,567,649
Permanently Rstr Net Assets$10,000$0▼ $10,000
Unrestricted Net Assets$1,527,647$-37,506▼ $1,565,153
Total Net Assets Fund Balance$4,105,296$-37,506▼ $4,142,802
Total Liabilities and Net Assets / Fund Balance$5,534,562$33,088▼ $5,501,474

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$10,000--$10,000-
2013$10,000---$10,000
2012$10,000---$10,000
2011$10,000---$10,000
2010$10,000---$10,000
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$87,247
Program Service Revenue
$0
Investment Income
$-26,713
Other Revenue
$-13,329
All Other Contributions
$87,247
Change in Net Assets
$-4,178,027
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,265,768
Grants and Similar Amounts Paid$1,943,830
Salaries, Compensation, and Employee Benefits$15,634
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,943,830--$1,943,830
Fees for Services Legal-$70,770-$70,770
Fees for Services Other$33,750--$33,750
Occupancy$1,605$21,470-$23,075
Fees for Services Accounting-$14,807-$14,807
Other Salaries and Wages-$13,342-$13,342
Other Expenses$12,307--$12,307
Office Expenses-$6,949-$6,949
Insurance-$4,574-$4,574
Payroll Taxes-$2,292-$2,292
Interest-$496-$496
Advertising$440--$440
Total Functional Expenses$4,090,532$134,700$0$4,225,232
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Pitkin County LibraryAspen, COGovernmentOperations$25,775
Huts for VetsBasalt, CO501(c)(3)Operations$24,271
Extreme Sports CampAspen, CO501(c)(3)Operations-
PathfindersAspen, CO501(c)(3)Operations-
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

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$125,000--
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Charitable Gift Annuity$15,957
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

Two members of the board are married.

Form 990, Part VI, Section B, Line 11

Draft 990 provided to treasurer of the bod and a final version is provided to all members.

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

Board members discuss at regular board meetings.

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

The organization utilized a independent consultant with mountain states employer council to determine appropriate compensation rates. Annual bonuses are generally contingent on that years performance. Bonuses are approved by the executive committee, with sue smedstad spearheading those discussions. The president and ceo is the only officer receiving compensation.

Form 990, Part VI, Section C, Line 19

Governing documents, policies and financial statements are available to the public by contacting the foundation at 970-544-1298 or by mail at po box 1639, aspen, co 81612

Filing and Contact Details

Filer

Filer Name
Aspen Valley Foundation
EIN
84-0643721
Phone
9705441298
Address
PO BOX 1639, ASPEN, CO 81612

Signing Officer

Name
Tom Griffiths
Title
Treasurer
Phone
9705441298
Signed
2015-10-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tom Griffiths
Formed
1973
Legal Domicile
Co
Voting Board Members
13
Independent Board Members
10
Employees
1
Volunteers
0

Preparer

Firm
Reese Henry & Company Inc
Address
400 EAST MAIN STREET SUITE 2, ASPEN, CO 81611
Preparer
Denise Jurgens CPA
Phone
9709253771
Supplemental Narrative

Financial Statement Notes

PART V, LINE 4:

To provide funding for grant making.

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IRS990/PYSalariesCompEmpBnftPaidAmt0573279
IRS990/PYTotalExpensesAmt02766461
IRS990/PYTotalProfFndrsngExpnsAmt033456
IRS990/PYTotalRevenueAmt02744865
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0-4178027
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/RealAmt0-13329
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt025853
IRS990/SavingsAndTempCashInvstGrp/EOYAmt032762
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt087247
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt02388629
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0764229
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt02122189
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt02702029
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt08064323
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/CurrentTaxYearMinus3YearsAmt019304
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/CurrentTaxYearMinus4YearsAmt019304
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt038608
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt044408
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt089165
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0106029
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0365211
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0392467
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0997280
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0340747
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.32110
IRS990ScheduleA/PublicSupportPY170Pct00.37960
IRS990ScheduleA/PublicSupportTotal170Amt02921939
IRS990ScheduleA/SubstantialContributorsTotAmt05180992
IRS990ScheduleA/ThirtyThrPctSuprtTestsPY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt087247
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt02388629
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0764229
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt02141493
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt02721333
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt08102931
IRS990ScheduleA/TotalSupportAmt09100211
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt010000
IRS990ScheduleD/CYEndwmtFundGrp/OtherExpendituresAmt010000
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt010000
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt010000
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt010000
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt010000
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt010000
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt010000
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt010000
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt010000
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt015957
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CHARITABLE GIFT ANNUITY
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0TO PROVIDE FUNDING FOR GRANT MAKING.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART V, LINE 4:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalLiabilityAmt015957
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt024271
IRS990ScheduleI/RecipientTable/CashGrantAmt125775
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc1GOVERNMENT
IRS990ScheduleI/RecipientTable/IRCSectionDesc2501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc3501(C)(3)
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt0130000
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt11762133
IRS990ScheduleI/RecipientTable/NonCashAssistanceDesc0PORTFOLIO PER DONOR REQUEST
IRS990ScheduleI/RecipientTable/NonCashAssistanceDesc1PORTFOLIO PER DONOR REQUEST
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0OPERATIONS
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1OPERATIONS
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2OPERATIONS
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3OPERATIONS
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0HUTS FOR VETS
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1PITKIN COUNTY LIBRARY
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2PATHFINDERS
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3EXTREME SPORTS CAMP
IRS990ScheduleI/RecipientTable/RecipientEIN0461909592
IRS990ScheduleI/RecipientTable/RecipientEIN1201710899
IRS990ScheduleI/RecipientTable/RecipientEIN2200940000
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0PO BOX 2047
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1120 N MILL ST
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt2PO BOX 11799
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt3PO BOX 10729
IRS990ScheduleI/RecipientTable/USAddress/CityNm0BASALT
IRS990ScheduleI/RecipientTable/USAddress/CityNm1ASPEN
IRS990ScheduleI/RecipientTable/USAddress/CityNm2ASPEN
IRS990ScheduleI/RecipientTable/USAddress/CityNm3ASPEN
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0CO
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1CO
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd2CO
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd3CO
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd081621
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd181611
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd281612
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd381612
IRS990ScheduleI/RecipientTable/ValuationMethodUsedDesc0INVESTMENT PORTFOLIO VALUE
IRS990ScheduleI/RecipientTable/ValuationMethodUsedDesc1INVESTMENT PORTFOLIO VALUE
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0GRANTORS ARE ASKED TO PROVIDE THE FOUNDATION WITH ANNUAL REPORTS FOR OPERATING GRANTS. CAPITAL NEEDS GRANTS ARE PROVIDED AS REIMBURSEMENTS ONLY, OR PAID DIRECTLY TO THE VENDOR ON BEHALF OF THE GRANTOR.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990/ScheduleJRequiredInd00
IRS990ScheduleN/DirectorOfSuccessor2Ind00
IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0STOCK PORTFOLIO - AT DONOR'S REQUEST - MOVED FUNDS ORIGINALLY RECEIVED FOR THE CREATION OF A RETIREMENT COMMUNITY TO BE BUILT BY THE FOUNDATION TO HUTS FOR VETS, A 501(C)(3) ORGANIZATION.
IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc1STOCK PORTFOLIO - AT DONOR'S REQUEST - MOVED FUNDS ORIGINALLY RECEIVED FOR THE CREATION OF A RETIREMENT COMMUNITY TO BE BUILT BY THE FOUNDATION TO PITKIN COUNTY LIBRARY, A GOVERNMENTAL ORGANIZATION
IRS990ScheduleN/DispositionOfAssetsDetail/BusinessName/BusinessNameLine1Txt0HUTS FOR VEST
IRS990ScheduleN/DispositionOfAssetsDetail/BusinessName/BusinessNameLine1Txt1PITKIN COUNTY LIBRARY
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt02014-10-14
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt12014-10-14
IRS990ScheduleN/DispositionOfAssetsDetail/EIN0461909592
IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt0130000
IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt11762133
IRS990ScheduleN/DispositionOfAssetsDetail/IRCSectionTxt0501(C)(3)
IRS990ScheduleN/DispositionOfAssetsDetail/IRCSectionTxt1GOVERNMENT
IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt0STOCK PORTFOLIO VALUE
IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt1STOCK PORTFOLIO VALUE
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/AddressLine1Txt0PO BOX 2047

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