Liabilities / Assets
52nd percentile
Higher debt load relative to assets than 52% of similar nonprofits.
Secondmuse Foundation
990 • Fiscal year 2021 • EIN 84-2181021
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.14x
Liabilities / Revenue
42nd percentile
Higher debt load relative to revenue than 42% of similar nonprofits.
Net Margin
88th percentile
Higher net margin than 88% of similar nonprofits.
Top Officer Pay
22nd percentile
Higher top officer pay than 22% of similar nonprofits.
Top officer pay equals 0.0% of source-year revenue.
Asset Growth
98th percentile
Faster asset growth than 98% of similar nonprofits.
Revenue Growth
96th percentile
Faster revenue growth than 96% of similar nonprofits.
Balance Sheet
Assets
Up$7,771,916
Up $5,517,295 (+245%) from 2020
Net Assets
Up$6,696,249
Up $5,210,753 (+351%) from 2020
Liabilities
Up$1,075,667
Up $306,542 (+40%) from 2020
Revenue And Expenses
Revenue
Up$9,612,757
Up $7,314,325 (+318%) from 2020
Expenses
Up$4,387,004
Up $2,252,820 (+106%) from 2020
Net Income
Up$5,225,753
Up $5,061,505 (+3082%) from 2020
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2021 to Dec 31, 2021
- Signed
- May 15, 2023
- Return Version
- 2021v4.0
- Gross Receipts
- $9,612,757
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 | |||
| Savings and Temporary Cash Investments | $665,003 | $5,596,862 | ▲ $4,931,859 |
| Cash and Non-Interest-Bearing Accounts | $1,588,862 | $2,169,243 | ▲ $580,381 |
| Prepaid Expenses and Deferred Charges | $756 | $5,811 | ▲ $5,055 |
| Total Assets | $2,254,621 | $7,771,916 | ▲ $5,517,295 |
| Liabilities | |||
| Accounts Payable and Accrued Expenses | $769,125 | $1,031,193 | ▲ $262,068 |
| Other Liabilities | - | $44,474 | - |
| Total Liabilities | $769,125 | $1,075,667 | ▲ $306,542 |
| Net Assets / Fund Balance | |||
| Net Assets Without Donor Restrictions | $1,485,496 | $5,679,107 | ▲ $4,193,611 |
| Net Assets With Donor Restrictions | - | $1,017,142 | - |
| Total Net Assets Fund Balance | $1,485,496 | $6,696,249 | ▲ $5,210,753 |
| Total Liabilities and Net Assets / Fund Balance | $2,254,621 | $7,771,916 | ▲ $5,517,295 |
Compensation and Service Providers
Board Members and Trustees
| Name | Title |
|---|---|
| Nicole Mcdonald | President |
| Anthony Jewett | Director |
| Carrie Freeman | Director |
| Sarah Owen | Director |
| Todd Khozein | Director |
| Erica Barbosa | Treasurer |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $9,612,360
- Program Service Revenue
- $0
- Investment Income
- $350
- Other Revenue
- $47
- All Other Contributions
- $9,612,360
- Change in Net Assets
- $5,225,753
Audited Revenue Reconciliation
- Revenue per Audited Statements
- $9,612,757
- Total Revenue per Audited Statements
- $9,612,757
- Total Revenue per Form 990
- $9,612,757
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Other Expenses | $3,169,737 |
| Salaries, Compensation, and Employee Benefits | $1,077,767 |
| Grants and Similar Amounts Paid | $139,500 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Fees for Services Other | $2,521,935 | $233,878 | - | $2,755,813 |
| Other Salaries and Wages | $812,340 | $137,761 | - | $950,101 |
| Information Technology | $4,812 | $134,904 | - | $139,716 |
| Foreign Grants | $97,000 | - | - | $97,000 |
| Payroll Taxes | $55,973 | $9,492 | - | $65,465 |
| Other Employee Benefits | - | $62,201 | - | $62,201 |
| Office Expenses | $44,128 | $5,259 | - | $49,387 |
| Grants to Domestic Orgs | $42,500 | - | - | $42,500 |
| Travel | $30,390 | $1,308 | - | $31,698 |
| Occupancy | $26,091 | - | - | $26,091 |
| Fees for Services Accounting | - | $20,397 | - | $20,397 |
| Advertising | $5,003 | - | - | $5,003 |
| Fees for Services Legal | - | $4,835 | - | $4,835 |
| Insurance | $155 | $3,665 | - | $3,820 |
| Other Expenses | $256 | $160 | - | $416 |
| Total Functional Expenses | $3,773,080 | $613,924 | $0 | $4,387,004 |
Audited Expense Reconciliation
| Line Item | Amount |
|---|---|
| Expenses per Audited Statements | $4,387,004 |
| Total Expenses per Audited Statements | $4,387,004 |
| Total Expenses per Form 990 | $4,387,004 |
International Activity
Grant and Assistance Recipients
| Recipient | Location | Category | Purpose | Amount |
|---|---|---|---|---|
| P33 | Chicago, IL | 501c3 | Support Entrepreneur | $30,000 |
| World Business Chicago | Chicago, IL | 501c3 | Economic Growth | $12,500 |
International Summary
- Spending
- $97,000
International Compliance
- Foreign grant records maintained
- Yes
- 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
| Region | Activity | Services | Offices | Employees | Spending |
|---|---|---|---|---|---|
| Singapore | Program | Entrepreneurship | - | - | $68,000 |
| Thailand | Program | Environmental | - | - | $22,000 |
| India | Program | Technology Consultin | - | - | $7,000 |
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
Debt and Bond Financing
Other Reported Liabilities
| Liability | Amount |
|---|---|
| Accrued Compensated Absences | $44,474 |
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
- No
- 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
“The form 990 is reviewed by management and selected members of the board of directors prior to acceptance and submission to the irs.”
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
- Erica Barbosa
- Title
- Treasurer
- Phone
- 9524869062
- Signed
- 2023-05-15
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Nicole Mcdonald
- Formed
- 2019
- Legal Domicile
- De
- Voting Board Members
- 6
- Independent Board Members
- 4
- Employees
- 14
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
“Return is amended to reflect the issuance of the form 990.”
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
“Contractors 2,521,935 233,878 0”
Financial Statement Notes
Schedule D, Page 3, Part X
“Secondmuse foundation annually evaluates all federal and state income tax positions. This process includes an analysis of whether these income tax positions the organization takes meet the definition of an uncertain tax position under the income taxes topic of the financial accounting standards codification. As of december 31, 2021, there were no uncertain tax positions noted. Secondmuse foundation's' policy is to classify income tax penalties and interest, when applicable, according to their natural classification.”
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| IRS990/OtherExpensesGrp/Desc | 2 | LICENSES & PERMITS |
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| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 1 | 160 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 0 | 105955 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 1 | 26542 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 2 | 256 |
| IRS990/OtherExpensesGrp/TotalAmt | 0 | 105955 |
| IRS990/OtherExpensesGrp/TotalAmt | 1 | 26606 |
| IRS990/OtherExpensesGrp/TotalAmt | 2 | 416 |
| IRS990/OtherLiabilitiesGrp/EOYAmt | 0 | 44474 |
| IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt | 0 | 47 |
| IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt | 0 | 47 |
| IRS990/OtherRevenueTotalAmt | 0 | 47 |
| IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt | 0 | 137761 |
| IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt | 0 | 812340 |
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| IRS990/OwnWebsiteInd | 0 | X |
| IRS990/PartialLiquidationInd | 0 | false |
| IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt | 0 | 9492 |
| IRS990/PayrollTaxesGrp/ProgramServicesAmt | 0 | 55973 |
| IRS990/PayrollTaxesGrp/TotalAmt | 0 | 65465 |
| IRS990/PoliticalCampaignActyInd | 0 | false |
| IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt | 0 | 756 |
| IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt | 0 | 5811 |
| IRS990/PrincipalOfficerNm | 0 | NICOLE MCDONALD |
| IRS990/PriorPeriodAdjustmentsAmt | 0 | -15000 |
| IRS990/ProfessionalFundraisingInd | 0 | false |
| IRS990/ProhibitedTaxShelterTransInd | 0 | false |
| IRS990/PYContributionsGrantsAmt | 0 | 2298429 |
| IRS990/PYExcessBenefitTransInd | 0 | false |
| IRS990/PYInvestmentIncomeAmt | 0 | 3 |
| IRS990/PYOtherExpensesAmt | 0 | 1944626 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | 164248 |
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| IRS990/PYTotalExpensesAmt | 0 | 2134184 |
| IRS990/PYTotalRevenueAmt | 0 | 2298432 |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | 5225753 |
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| IRS990/RelatedEntityInd | 0 | false |
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| IRS990/ReportInvestmentsOtherSecInd | 0 | false |
| IRS990/ReportLandBuildingEquipmentInd | 0 | false |
| IRS990/ReportOtherAssetsInd | 0 | false |
| IRS990/ReportOtherLiabilitiesInd | 0 | true |
| IRS990/ReportProgramRelatedInvstInd | 0 | false |
| IRS990/SavingsAndTempCashInvstGrp/BOYAmt | 0 | 665003 |
| IRS990/SavingsAndTempCashInvstGrp/EOYAmt | 0 | 5596862 |
| IRS990ScheduleA/First5Years170Ind | 0 | X |
| IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt | 0 | 47 |
| IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc | 0 | PART II, LINE 10 |
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| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt | 0 | 1699029 |
| IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt | 0 | 13609818 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt | 0 | 350 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt | 0 | 3 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt | 0 | 353 |
| IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt | 0 | 47 |
| IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt | 0 | 47 |
| IRS990ScheduleA/OtherIncome170Grp/TotalAmt | 0 | 47 |
| IRS990ScheduleA/PublicOrganization170Ind | 0 | X |
| IRS990ScheduleA/PublicSupportTotal170Amt | 0 | 13609818 |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt | 0 | 9612360 |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt | 0 | 2298429 |
| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt | 0 | 1699029 |
| IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt | 0 | 13609818 |
| IRS990ScheduleA/TotalSupportAmt | 0 | 13610218 |
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| IRS990ScheduleB/ContributorInformationGrp/ContributorNum | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine1 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine2 | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode | 0 | RESTRICTED |
| IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt | 0 | RESTRICTED |
| IRS990/ScheduleBRequiredInd | 0 | true |
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| IRS990ScheduleD/FootnoteTextInd | 0 | X |
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| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | ACCRUED COMPENSATED ABSENCES |
| IRS990ScheduleD/RevenueSubtotalAmt | 0 | 9612757 |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | SECONDMUSE FOUNDATION ANNUALLY EVALUATES ALL FEDERAL AND STATE INCOME TAX POSITIONS. THIS PROCESS INCLUDES AN ANALYSIS OF WHETHER THESE INCOME TAX POSITIONS THE ORGANIZATION TAKES MEET THE DEFINITION OF AN UNCERTAIN TAX POSITION UNDER THE INCOME TAXES TOPIC OF THE FINANCIAL ACCOUNTING STANDARDS CODIFICATION. AS OF DECEMBER 31, 2021, THERE WERE NO UNCERTAIN TAX POSITIONS NOTED. SECONDMUSE FOUNDATION'S' POLICY IS TO CLASSIFY INCOME TAX PENALTIES AND INTEREST, WHEN APPLICABLE, ACCORDING TO THEIR NATURAL CLASSIFICATION. |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | SCHEDULE D, PAGE 3, PART X |
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| IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt | 0 | 4387004 |
| IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt | 0 | 7000 |
| IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt | 1 | 68000 |
| IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt | 2 | 22000 |
| IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt | 0 | INDIA |
| IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt | 1 | SINGAPORE |
| IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt | 2 | THAILAND |
| IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt | 0 | TECHNOLOGY CONSULTIN |
| IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt | 1 | ENTREPRENEURSHIP |
| IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt | 2 | ENVIRONMENTAL |
| IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt | 0 | PROGRAM |
| IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt | 1 | PROGRAM |
| IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt | 2 | PROGRAM |
| IRS990ScheduleF/BoycottCountriesInd | 0 | false |
| IRS990ScheduleF/ForeignCorpOwnershipInd | 0 | false |
| IRS990ScheduleF/ForeignPartnershipInd | 0 | false |
| IRS990ScheduleF/GrantRecordsMaintainedInd | 0 | true |
| IRS990ScheduleF/GrantsToOrgOutsideUSGrp/CashGrantAmt | 0 | 10000 |
| IRS990ScheduleF/GrantsToOrgOutsideUSGrp/CashGrantAmt | 1 | 7000 |
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| IRS990ScheduleF/GrantsToOrgOutsideUSGrp/CashGrantAmt | 3 | 15000 |
| IRS990ScheduleF/GrantsToOrgOutsideUSGrp/MannerOfCashDisbursementTxt | 0 | EFT |
| IRS990ScheduleF/GrantsToOrgOutsideUSGrp/MannerOfCashDisbursementTxt | 1 | EFT |
| IRS990ScheduleF/GrantsToOrgOutsideUSGrp/MannerOfCashDisbursementTxt | 2 | EFT |
| IRS990ScheduleF/GrantsToOrgOutsideUSGrp/MannerOfCashDisbursementTxt | 3 | EFT |
| IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt | 0 | BUSINESS DEVELOPMENT |
| IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt | 1 | TECHNOLOGY CONSULTIN |
| IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt | 2 | ENTREPRENEURSHIP |
| IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt | 3 | ENVIRONMENTAL |
| IRS990ScheduleF/InterestInForeignTrustInd | 0 | false |
| IRS990ScheduleF/PassiveForeignInvestmestCoInd | 0 | false |
| IRS990ScheduleF/SubtotalSpentAmt | 0 | 97000 |
| IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt | 0 | EACH GRANT IS INITIATED WITH A LEGAL AGREEMENT BEFORE THE DISTRIBUTION OF FUNDS. FUNDS ARE DISTRIBUTED INCREMENTALLY SO SOME RECOURSE IS AVAILABLE SHOULD AN ISSUE ARISE. GRANTS ARE MONITORED THROUGH ONGOING MEETINGS OR OTHER ENGAGEMENTS AS APPROPRIATE FOR THE DURATION OF THE GRANT. |
| IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt | 1 | INDIA 7,000 0 SINGAPORE 68,000 0 THAILAND 22,000 0 |
| IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | SCHEDULE F, PAGE 1, PART I, LINE 2 |
| IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | SCHEDULE F, PAGE 1, PART I, LINE 3 |
| IRS990ScheduleF/TotalOtherOrgCnt | 0 | 6 |
| IRS990ScheduleF/TotalSpentAmt | 0 | 97000 |
| IRS990ScheduleF/TransferToForeignCorpInd | 0 | false |
| IRS990ScheduleI/GrantRecordsMaintainedInd | 0 | true |
| IRS990ScheduleI/RecipientTable/CashGrantAmt | 0 | 30000 |
| IRS990ScheduleI/RecipientTable/CashGrantAmt | 1 | 12500 |
| IRS990ScheduleI/RecipientTable/IRCSectionDesc | 0 | 501C3 |
| IRS990ScheduleI/RecipientTable/IRCSectionDesc | 1 | 501C3 |
| IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt | 0 | SUPPORT ENTREPRENEUR |
| IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt | 1 | ECONOMIC GROWTH |
| IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt | 0 | P33 |
| IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt | 1 | WORLD BUSINESS CHICAGO |
| IRS990ScheduleI/RecipientTable/RecipientEIN | 0 | 832851368 |
| IRS990ScheduleI/RecipientTable/RecipientEIN | 1 | 364313685 |
| IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt | 0 | 1234 W FULTON MARKET |
| IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt | 1 | 180 NORTH LASALLE ST |
| IRS990ScheduleI/RecipientTable/USAddress/CityNm | 0 | CHICAGO |
| IRS990ScheduleI/RecipientTable/USAddress/CityNm | 1 | CHICAGO |
| IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd | 0 | IL |
| IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd | 1 | IL |
| IRS990ScheduleI/RecipientTable/USAddress/ZIPCd | 0 | 60607 |
| IRS990ScheduleI/RecipientTable/USAddress/ZIPCd | 1 | 60601 |
| IRS990ScheduleI/TotalOtherOrgCnt | 0 | 10 |
| IRS990/ScheduleJRequiredInd | 0 | false |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt | 0 | SECONDMUSE LLC |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt | 1 | SECONDMUSE LLC |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt | 2 | SECONDMUSE LLC |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt | 0 | MEMBER |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt | 1 | MEMBER |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt | 2 | MEMBER |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd | 0 | false |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd | 1 | false |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd | 2 | false |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc | 0 | 25% OWNER |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc | 1 | 25% OWNER |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc | 2 | 25% OWNER |
| IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt | 0 | 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 | true |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | RETURN IS AMENDED TO REFLECT THE ISSUANCE OF THE FORM 990. |
| 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 | THE FORM 990 IS REVIEWED BY MANAGEMENT AND SELECTED MEMBERS OF THE BOARD OF DIRECTORS PRIOR TO ACCEPTANCE AND SUBMISSION TO THE IRS. |
| 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 | CONTRACTORS 2,521,935 233,878 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/TotalAssetsBOYAmt | 0 | 2254621 |
| IRS990/TotalAssetsEOYAmt | 0 | 7771916 |
| IRS990/TotalAssetsGrp/BOYAmt | 0 | 2254621 |
| IRS990/TotalAssetsGrp/EOYAmt | 0 | 7771916 |
| IRS990/TotalCompGreaterThan150KInd | 0 | false |
| IRS990/TotalContributionsAmt | 0 | 9612360 |
| IRS990/TotalEmployeeCnt | 0 | 14 |
| IRS990/TotalFunctionalExpensesGrp/FundraisingAmt | 0 | 0 |
| IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt | 0 | 613924 |
| IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt | 0 | 3773080 |
| IRS990/TotalFunctionalExpensesGrp/TotalAmt | 0 | 4387004 |
| IRS990/TotalGrossUBIAmt | 0 | 0 |
| IRS990/TotalLiabilitiesBOYAmt | 0 | 769125 |
| IRS990/TotalLiabilitiesEOYAmt | 0 | 1075667 |
| IRS990/TotalLiabilitiesGrp/BOYAmt | 0 | 769125 |
| IRS990/TotalLiabilitiesGrp/EOYAmt | 0 | 1075667 |
| IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt | 0 | 1485496 |
| IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt | 0 | 6696249 |
| IRS990/TotalProgramServiceExpensesAmt | 0 | 3773080 |
| IRS990/TotalRevenueGrp/ExclusionAmt | 0 | 350 |
| IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 47 |
| IRS990/TotalRevenueGrp/TotalRevenueColumnAmt | 0 | 9612757 |
| IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt | 0 | 2254621 |
| IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt | 0 | 7771916 |
| IRS990/TravelGrp/ManagementAndGeneralAmt | 0 | 1308 |
| IRS990/TravelGrp/ProgramServicesAmt | 0 | 30390 |
| IRS990/TravelGrp/TotalAmt | 0 | 31698 |
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.
- Assets
- $7,771,916
- Liabilities
- $1,075,667
- Net assets
- $6,696,249
- Revenue
- $9,612,757
- Expenses
- $4,387,004
- Net income
- $5,225,753