Liabilities / Assets
66th percentile
Higher debt load relative to assets than 66% of similar nonprofits.
Secondmuse Foundation
990 • Fiscal year 2019 • EIN 84-2181021
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.21x
Liabilities / Revenue
66th percentile
Higher debt load relative to revenue than 66% of similar nonprofits.
Net Margin
97th percentile
Higher net margin than 97% of similar nonprofits.
Top Officer Pay
36th percentile
Higher top officer pay than 36% of similar nonprofits.
Top officer pay equals 0.0% of source-year revenue.
Asset Growth
Score unavailable
No earlier valid filing was available within the previous three public years.
Revenue Growth
Score unavailable
No earlier valid filing was available within the previous three public years.
Balance Sheet
Assets
$1,679,481
No earlier filing loaded for comparison.
Net Assets
$1,321,248
No earlier filing loaded for comparison.
Liabilities
$358,233
No earlier filing loaded for comparison.
Revenue And Expenses
Revenue
$1,699,029
No earlier filing loaded for comparison.
Expenses
$377,781
No earlier filing loaded for comparison.
Net Income
$1,321,248
No earlier filing loaded for comparison.
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2019 to Dec 31, 2019
- Signed
- Aug 3, 2020
- Return Version
- 2019v5.0
- Gross Receipts
- $1,699,029
Mission and Program Overview
Mission
The stated mission of secondmuse foundation is to foster and develop diverse, participatory innovation communities that incubate solutions to social, economic and environmental issues; including through public education, facilitating the ability of private, commercial actors, entrepreneurs and governments to generate shared visions and take collective action in advancing solutions that address environmental issues and local economies, and incubating and funding programs and solutions that advance social, environmental and/or economic justice. It will also generate, codify, and publish learnings and insights and facilitate broader discourse to catalyze community development on a larger scale.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Cash and Non-Interest-Bearing Accounts | - | $1,679,481 | - |
| Total Assets | $0 | $1,679,481 | ▲ $1,679,481 |
| Liabilities | |||
| Accounts Payable and Accrued Expenses | - | $357,699 | - |
| Other Liabilities | - | $534 | - |
| Total Liabilities | $0 | $358,233 | ▲ $358,233 |
| Net Assets / Fund Balance | |||
| Net Assets Without Donor Restrictions | - | $1,321,248 | - |
| Total Net Assets Fund Balance | $0 | $1,321,248 | ▲ $1,321,248 |
| Total Liabilities and Net Assets / Fund Balance | $0 | $1,679,481 | ▲ $1,679,481 |
Compensation and Service Providers
Board Members and Trustees
| Name | Title |
|---|---|
| Chad Badiyan | President |
| Anthony Jewett | Director |
| Carrie Freeman | Director |
| Neisan Massarrat | Director |
| Sarah Owen | Director |
| Todd Khozein | Secretary |
| Erica Barbosa | Treasurer |
Highest Paid Contractors
| Contractor | Services | Location | Compensation |
|---|---|---|---|
| Secondmuse LLC | Consulting | PO BOX 582, Bernalillo, NM 87004 | $292,701 |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $1,699,029
- Program Service Revenue
- $0
- Investment Income
- $0
- Other Revenue
- $0
- All Other Contributions
- $1,699,029
- Change in Net Assets
- $1,321,248
Audited Revenue Reconciliation
- Revenue per Audited Statements
- $1,699,029
- Total Revenue per Audited Statements
- $1,699,029
- Total Revenue per Form 990
- $1,699,029
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Other Expenses | $377,781 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Salaries, Compensation, and Employee Benefits | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Fees for Services Other | $365,494 | - | - | $365,494 |
| Travel | $12,207 | - | - | $12,207 |
| Other Expenses | - | $80 | - | $80 |
| Total Functional Expenses | $377,701 | $80 | $0 | $377,781 |
Audited Expense Reconciliation
| Line Item | Amount |
|---|---|
| Expenses per Audited Statements | $377,781 |
| Total Expenses per Audited Statements | $377,781 |
| Total Expenses per Form 990 | $377,781 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| 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 Party | Relationship | Description | Shared Revenue | Amount |
|---|---|---|---|---|
| Chad Badiyan | Director | To Start Bank Acct | No | $534 |
Debt and Bond Financing
Other Reported Liabilities
| Liability | Amount |
|---|---|
| Note Payable | $534 |
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- Annual disclosure for covered persons
- Yes
- Audit committee
- Yes
- Business relationship with 35% controlled entity
- Yes
- Business relationship with family members
- No
- Business relationship with organization members
- Yes
- Material changes to governing documents
- No
- Compensation from other sources disclosed
- No
- CEO compensation reviewed
- Yes
- Other officer compensation reviewed
- Yes
- 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
“Secondmuse llc secondmuse llc member member co-owners secondmuse llc secondmuse llc member member co-owners secondmuse llc secondmuse llc member member co-owners secondmuse llc secondmuse llc member member co-owners secondmuse llc secondmuse llc member member co-owners secondmuse llc secondmuse llc member member co-owners”
Form 990, Page 6, Part VI, Line 11B
“No review was or will be conducted.”
Form 990, Page 6, Part VI, Line 12C
“Directors, officers and key employees are required to disclose interests that could give rise to conflicts at least annually. The annual disclosure form appended to the end of these board governance policies, shall be completed and submitted by each officer and director at the first secondmuse foundation meeting of the calendar year of the board of directors, and maintained in the permanent corporate records.”
Form 990, Page 6, Part VI, Line 15A
“The board of directors shall oversee the setting of executive compensation and shall (1) determine compensation of all directors, top management officials, officers and key employees,and (2) review, assess and approve the reasonableness of such compensation on a regular basis. In order to be approved as reasonable, compensation must be an amount that would ordinarily be paid for comparable work by similarly situated organizations under like circumstances.”
Form 990, Page 6, Part VI, Line 15B
“The board of directors shall oversee the setting of executive compensation and shall (1) determine compensation of all directors, top management officials, officers and key employees,and (2) review, assess and approve the reasonableness of such compensation on a regular basis. In order to be approved as reasonable, compensation must be an amount that would ordinarily be paid for comparable work by similarly situated organizations under like circumstances.”
Form 990, Page 6, Part VI, Line 19
“Governing documents are made available to the public upon written request and on the secondmuse foundation website.”
Filing and Contact Details
Filer
- Filer Name
- Secondmuse Foundation
- EIN
- 84-2181021
- Phone
- 5058353753
- Address
- 401 ASH ST SUITE B, LAKE OSWEGO, OR 97034
Signing Officer
- Name
- Chad Badiyan
- Title
- President
- Phone
- 9524869062
- Signed
- 2020-08-03
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Chad Badiyan
- Formed
- 2019
- Legal Domicile
- De
- Voting Board Members
- 7
- Independent Board Members
- 3
- Employees
- 0
Preparer
- Firm
- Waters & Company LLC
- Address
- 3311 CANDELARIA NE SUITE J, ALBUQUERQUE, NM 87107-1952
- Preparer
- Ollie D Waters
- Phone
- 5052600616
Supplemental Narrative
Additional Explanations
Form 990, Page 1, Item B
“To properly name the major contributor.”
FORM 990 - ORGANIZATION'S MISSION
“The stated mission of secondmuse foundation is to foster and develop diverse, participatory innovation communities that incubate solutions to social, economic and environmental issues; including through public education, facilitating the ability of private, commercial actors, entrepreneurs and governments to generate shared visions and take collective action in advancing solutions that address environmental issues and local economies, and incubating and funding programs and solutions that advance social, environmental and/or economic justice. It will also generate, codify, and publish learnings and insights and facilitate broader discourse to catalyze community development on a larger scale.”
Form 990, Part IX, Line 11G
“Subcontractors 365,494 0 0”
Raw XML Appendix323 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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| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt | 1 | MEMBER |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt | 2 | MEMBER |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt | 3 | MEMBER |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd | 0 | false |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd | 1 | false |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd | 2 | false |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd | 3 | false |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt | 0 | 534 |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc | 0 | TO START BANK ACCT |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc | 1 | 25% OWNER |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc | 2 | 25% OWNER |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc | 3 | 25% OWNER |
| IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt | 0 | LOAN BY BOARD MEMBER TO START BANK ACCOUNT. CHAD BADIYAN, TODD KHOZEIN, AND CARRIE FREEMAN EACH OWN A 25% SHARE OF SECONDMUSE LLC. SECONDMUSE LLC PROVIDES SERVICES TO THE SECONDMUSE FOUNDATION. |
| IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | SCHEDULE L, PART V |
| IRS990/ScheduleORequiredInd | 0 | false |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | TO PROPERLY NAME THE MAJOR CONTRIBUTOR. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | THE STATED MISSION OF SECONDMUSE FOUNDATION IS TO FOSTER AND DEVELOP DIVERSE, PARTICIPATORY INNOVATION COMMUNITIES THAT INCUBATE SOLUTIONS TO SOCIAL, ECONOMIC AND ENVIRONMENTAL ISSUES; INCLUDING THROUGH PUBLIC EDUCATION, FACILITATING THE ABILITY OF PRIVATE, COMMERCIAL ACTORS, ENTREPRENEURS AND GOVERNMENTS TO GENERATE SHARED VISIONS AND TAKE COLLECTIVE ACTION IN ADVANCING SOLUTIONS THAT ADDRESS ENVIRONMENTAL ISSUES AND LOCAL ECONOMIES, AND INCUBATING AND FUNDING PROGRAMS AND SOLUTIONS THAT ADVANCE SOCIAL, ENVIRONMENTAL AND/OR ECONOMIC JUSTICE. IT WILL ALSO GENERATE, CODIFY, AND PUBLISH LEARNINGS AND INSIGHTS AND FACILITATE BROADER DISCOURSE TO CATALYZE COMMUNITY DEVELOPMENT ON A LARGER SCALE. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | SECONDMUSE LLC SECONDMUSE LLC MEMBER MEMBER CO-OWNERS SECONDMUSE LLC SECONDMUSE LLC MEMBER MEMBER CO-OWNERS SECONDMUSE LLC SECONDMUSE LLC MEMBER MEMBER CO-OWNERS SECONDMUSE LLC SECONDMUSE LLC MEMBER MEMBER CO-OWNERS SECONDMUSE LLC SECONDMUSE LLC MEMBER MEMBER CO-OWNERS SECONDMUSE LLC SECONDMUSE LLC MEMBER MEMBER CO-OWNERS |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | NO REVIEW WAS OR WILL BE CONDUCTED. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | DIRECTORS, OFFICERS AND KEY EMPLOYEES ARE REQUIRED TO DISCLOSE INTERESTS THAT COULD GIVE RISE TO CONFLICTS AT LEAST ANNUALLY. THE ANNUAL DISCLOSURE FORM APPENDED TO THE END OF THESE BOARD GOVERNANCE POLICIES, SHALL BE COMPLETED AND SUBMITTED BY EACH OFFICER AND DIRECTOR AT THE FIRST SECONDMUSE FOUNDATION MEETING OF THE CALENDAR YEAR OF THE BOARD OF DIRECTORS, AND MAINTAINED IN THE PERMANENT CORPORATE RECORDS. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | THE BOARD OF DIRECTORS SHALL OVERSEE THE SETTING OF EXECUTIVE COMPENSATION AND SHALL (1) DETERMINE COMPENSATION OF ALL DIRECTORS, TOP MANAGEMENT OFFICIALS, OFFICERS AND KEY EMPLOYEES,AND (2) REVIEW, ASSESS AND APPROVE THE REASONABLENESS OF SUCH COMPENSATION ON A REGULAR BASIS. IN ORDER TO BE APPROVED AS REASONABLE, COMPENSATION MUST BE AN AMOUNT THAT WOULD ORDINARILY BE PAID FOR COMPARABLE WORK BY SIMILARLY SITUATED ORGANIZATIONS UNDER LIKE CIRCUMSTANCES. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 6 | THE BOARD OF DIRECTORS SHALL OVERSEE THE SETTING OF EXECUTIVE COMPENSATION AND SHALL (1) DETERMINE COMPENSATION OF ALL DIRECTORS, TOP MANAGEMENT OFFICIALS, OFFICERS AND KEY EMPLOYEES,AND (2) REVIEW, ASSESS AND APPROVE THE REASONABLENESS OF SUCH COMPENSATION ON A REGULAR BASIS. IN ORDER TO BE APPROVED AS REASONABLE, COMPENSATION MUST BE AN AMOUNT THAT WOULD ORDINARILY BE PAID FOR COMPARABLE WORK BY SIMILARLY SITUATED ORGANIZATIONS UNDER LIKE CIRCUMSTANCES. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 7 | GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST AND ON THE SECONDMUSE FOUNDATION WEBSITE. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 8 | SUBCONTRACTORS 365,494 0 0 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | FORM 990, PAGE 1, ITEM B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | FORM 990 - ORGANIZATION'S MISSION |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990, PAGE 6, PART VI, LINE 2 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | FORM 990, PAGE 6, PART VI, LINE 11B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | FORM 990, PAGE 6, PART VI, LINE 12C |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 5 | FORM 990, PAGE 6, PART VI, LINE 15A |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 6 | FORM 990, PAGE 6, PART VI, LINE 15B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 7 | FORM 990, PAGE 6, PART VI, LINE 19 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 8 | FORM 990, PART IX, LINE 11G |
| IRS990/SchoolOperatingInd | 0 | false |
| IRS990/SignificantChangeInd | 0 | false |
| IRS990/SignificantNewProgramSrvcInd | 0 | false |
| IRS990/StatesWhereCopyOfReturnIsFldCd | 0 | DE |
| IRS990/SubjectToExcsTaxNetInvstIncInd | 0 | false |
| IRS990/SubjectToProxyTaxInd | 0 | false |
| IRS990/SubjToTaxRmnrtnExPrchtPymtInd | 0 | false |
| IRS990/TaxablePartyNotificationInd | 0 | false |
| IRS990/TaxExemptBondsInd | 0 | false |
| IRS990/TerminateOperationsInd | 0 | false |
| IRS990/TotalAssetsEOYAmt | 0 | 1679481 |
| IRS990/TotalAssetsGrp/BOYAmt | 0 | 0 |
| IRS990/TotalAssetsGrp/EOYAmt | 0 | 1679481 |
| IRS990/TotalCompGreaterThan150KInd | 0 | false |
| IRS990/TotalContributionsAmt | 0 | 1699029 |
| IRS990/TotalEmployeeCnt | 0 | 0 |
| IRS990/TotalFunctionalExpensesGrp/FundraisingAmt | 0 | 0 |
| IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt | 0 | 80 |
| IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt | 0 | 377701 |
| IRS990/TotalFunctionalExpensesGrp/TotalAmt | 0 | 377781 |
| IRS990/TotalGrossUBIAmt | 0 | 0 |
| IRS990/TotalLiabilitiesEOYAmt | 0 | 358233 |
| IRS990/TotalLiabilitiesGrp/BOYAmt | 0 | 0 |
| IRS990/TotalLiabilitiesGrp/EOYAmt | 0 | 358233 |
| IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt | 0 | 0 |
| IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt | 0 | 1321248 |
| IRS990/TotalProgramServiceExpensesAmt | 0 | 377701 |
| IRS990/TotalRevenueGrp/TotalRevenueColumnAmt | 0 | 1699029 |
| IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt | 0 | 0 |
| IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt | 0 | 1679481 |
| IRS990/TravelGrp/ProgramServicesAmt | 0 | 12207 |
| IRS990/TravelGrp/TotalAmt | 0 | 12207 |
| IRS990/TrnsfrExmptNonChrtblRltdOrgInd | 0 | false |
| IRS990/TypeOfOrganizationCorpInd | 0 | X |
| IRS990/UnrelatedBusIncmOverLimitInd | 0 | false |
| IRS990/UponRequestInd | 0 | X |
| IRS990/USAddress/AddressLine1Txt | 0 | 401 ASH ST SUITE B |
| IRS990/USAddress/CityNm | 0 | LAKE OSWEGO |
| IRS990/USAddress/StateAbbreviationCd | 0 | OR |
| IRS990/USAddress/ZIPCd | 0 | 97034 |
| IRS990/VotingMembersGoverningBodyCnt | 0 | 7 |
| IRS990/VotingMembersIndependentCnt | 0 | 3 |
| IRS990/WebsiteAddressTxt | 0 | SECONDMUSEFOUNDATION.ORG |
| IRS990/WhistleblowerPolicyInd | 0 | true |
| ReturnHeader/BuildTS | 0 | 2022-09-23 18:48:47Z |
| ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd | 0 | true |
| ReturnHeader/BusinessOfficerGrp/PersonNm | 0 | CHAD BADIYAN |
| ReturnHeader/BusinessOfficerGrp/PersonTitleTxt | 0 | PRESIDENT |
| ReturnHeader/BusinessOfficerGrp/PhoneNum | 0 | 9524869062 |
| ReturnHeader/BusinessOfficerGrp/SignatureDt | 0 | 2020-08-03 |
| ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt | 0 | SECONDMUSE FOUNDATION |
| ReturnHeader/Filer/BusinessNameControlTxt | 0 | SECO |
| ReturnHeader/Filer/EIN | 0 | 842181021 |
| ReturnHeader/Filer/PhoneNum | 0 | 5058353753 |
| ReturnHeader/Filer/USAddress/AddressLine1Txt | 0 | 401 ASH ST SUITE B |
| ReturnHeader/Filer/USAddress/CityNm | 0 | LAKE OSWEGO |
| ReturnHeader/Filer/USAddress/StateAbbreviationCd | 0 | OR |
| ReturnHeader/Filer/USAddress/ZIPCd | 0 | 97034 |
| ReturnHeader/PreparerFirmGrp/PreparerFirmEIN | 0 | 205855985 |
| ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt | 0 | WATERS & COMPANY LLC |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt | 0 | 3311 CANDELARIA NE SUITE J |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm | 0 | ALBUQUERQUE |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd | 0 | NM |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd | 0 | 871071952 |
| ReturnHeader/PreparerPersonGrp/PhoneNum | 0 | 5052600616 |
| ReturnHeader/PreparerPersonGrp/PreparationDt | 0 | 2022-08-11 |
| ReturnHeader/PreparerPersonGrp/PreparerPersonNm | 0 | OLLIE D WATERS |
| ReturnHeader/ReturnTs | 0 | 2022-08-11T09:11:09-04:00 |
| ReturnHeader/ReturnTypeCd | 0 | 990 |
| ReturnHeader/TaxPeriodBeginDt | 0 | 2019-01-01 |
| ReturnHeader/TaxPeriodEndDt | 0 | 2019-12-31 |
| ReturnHeader/TaxYr | 0 | 2019 |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2019 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $1,679,481
- Liabilities
- $358,233
- Net assets
- $1,321,248
- Revenue
- $1,699,029
- Expenses
- $377,781
- Net income
- $1,321,248