Civic Intelligence

Secondmuse Foundation

990 • Fiscal year 2022 • EIN 84-2181021

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 15, 2023

401 Ash St Suite BLake Oswego, OR 97034

(514) 806-8023

Siviq Scores

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

Liabilities / Assets

62nd percentile

0.22x

Higher debt load relative to assets than 62% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

64th percentile

0.29x

Higher debt load relative to revenue than 64% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Net Margin

14th percentile

-17%

Higher net margin than 14% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

22nd percentile

$0

Higher top officer pay than 22% of similar nonprofits.

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

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Asset Growth

31st percentile

-4.6%

Faster asset growth than 31% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

10th percentile

-40%

Faster revenue growth than 10% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Assets

Down

$7,411,487

Down $360,429 (-4.6%) from 2021

Net Assets

Down

$5,745,348

Down $950,901 (-14%) from 2021

Liabilities

Up

$1,666,139

Up $590,472 (+55%) from 2021

Revenue

Down

$5,727,123

Down $3,885,634 (-40%) from 2021

Expenses

Up

$6,678,024

Up $2,291,020 (+52%) from 2021

Net Income

Down

-$950,901

Down $6,176,654 (-118%) from 2021

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: $1,679,481Liabilities 2019: $358,233Net Assets 2019: $1,321,2482019Assets 2020: $2,254,621Liabilities 2020: $769,125Net Assets 2020: $1,485,4962020Assets 2021: $7,771,916Liabilities 2021: $1,075,667Net Assets 2021: $6,696,2492021Assets 2022: $7,411,487Liabilities 2022: $1,666,139Net Assets 2022: $5,745,3482022Assets 2023: $4,645,845Liabilities 2023: $1,086,952Net Assets 2023: $3,558,8932023Assets 2024: $787,831Liabilities 2024: $442,687Net Assets 2024: $345,1442024

Highlighted filing

2022

Assets$7,411,487
Liabilities$1,666,139
Net Assets$5,745,348

Operations Trend

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

$10M$5.0M$0-$5.0MRevenue 2019: $1,699,029Expenses 2019: $377,781Net Income 2019: $1,321,2482019Revenue 2020: $2,298,432Expenses 2020: $2,134,184Net Income 2020: $164,2482020Revenue 2021: $9,612,757Expenses 2021: $4,387,004Net Income 2021: $5,225,7532021Revenue 2022: $5,727,123Expenses 2022: $6,678,024Net Income 2022: -$950,9012022Revenue 2023: $4,771,822Expenses 2023: $6,958,277Net Income 2023: -$2,186,4552023Revenue 2024: $940,902Expenses 2024: $4,154,651Net Income 2024: -$3,213,7492024

Highlighted filing

2022

Revenue$5,727,123
Expenses$6,678,024
Net Income-$950,901
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 15, 2023
Return Version
2022v5.0
Gross Receipts
$5,727,123
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
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$5,596,862$6,430,546▲ $833,684
Cash and Non-Interest-Bearing Accounts$2,169,243$838,925▼ $1,330,318
Pledges and Grants Receivable-$141,600-
Prepaid Expenses and Deferred Charges$5,811$416▼ $5,395
Total Assets$7,771,916$7,411,487▼ $360,429
Liabilities
Accounts Payable and Accrued Expenses$1,031,193$1,666,139▲ $634,946
Other Liabilities$44,474--
Total Liabilities$1,075,667$1,666,139▲ $590,472
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,017,142$4,318,198▲ $3,301,056
Net Assets Without Donor Restrictions$5,679,107$1,427,150▼ $4,251,957
Total Net Assets Fund Balance$6,696,249$5,745,348▼ $950,901
Total Liabilities and Net Assets / Fund Balance$7,771,916$7,411,487▼ $360,429
Compensation and Service Providers

Board Members and Trustees

NameTitle
Nicole McdonaldPresident
Anthony JewettDirector
Carrie FreemanDirector
Sarah OwenDirector
Todd KhozeinDirector
Erica BarbosaTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Secondmuse LLCConsultingPO BOX 582, APT A8, Bernalillo, NM 87004$1,921,056
-Consulting4808 WASHTENAW AVE, Ann Arbor, MI 48108$102,423
Revenue and Support

Revenue Composition

Contributions and Grants
$5,711,605
Program Service Revenue
$0
Investment Income
$15,518
Other Revenue
$0
All Other Contributions
$5,711,605
Change in Net Assets
$-950,901

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,727,123
Total Revenue per Audited Statements
$5,727,123
Total Revenue per Form 990
$5,727,123
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,516,082
Salaries, Compensation, and Employee Benefits$1,515,615
Grants and Similar Amounts Paid$646,327
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$3,464,829$442,419-$3,907,248
Other Salaries and Wages$1,207,907$141,416-$1,349,323
Grants to Domestic Orgs$569,327--$569,327
Travel$131,100$27,537-$158,637
Office Expenses$114,462$3,227-$117,689
Payroll Taxes$93,107$10,901-$104,008
Information Technology$9,168$70,676-$79,844
Foreign Grants$77,000--$77,000
Occupancy$62,433--$62,433
Other Employee Benefits$55,756$6,528-$62,284
Advertising$25,719--$25,719
Fees for Services Accounting-$13,961-$13,961
Insurance$716$3,556-$4,272
Conferences and Meetings$360$2,500-$2,860
Other Expenses$250$90-$340
Total Functional Expenses$5,954,904$723,120$0$6,678,024

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$6,678,024
Total Expenses per Audited Statements$6,678,024
Total Expenses per Form 990$6,678,024
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Opportunity HubAtlanta, GA501 C3Minorities in Tech$187,500
Miami FoundationMiami, FL501 C3Philanthrophy$112,000
Chicago Blend GroupChicago, IL-Diversity in Vc$99,999
P33Chicago, IL501c3Support Entrepreneur$50,000
Depaul UniversityChicago, IL501 C3Education$40,000
Circulate InitiativeIselin, NJ501 C3Environmental$39,328
Illinois Science and Technology CoaChicago, IL501 C3Economic Development$18,000
Bitwise ImpactFresno, CA501 C3Workforce Diversity$12,500
Latinas in TechMoraga, CA501 C3Minorities in Tech$10,000

International Summary

Spending
$77,000

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

RegionActivityServicesOfficesEmployeesSpending
SingaporeProgramEntrepreneurship--$60,000
IndiaProgramTechnology Consultin--$17,000
ThailandProgramEnvironmental---
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
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

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
5148068023
Address
401 ASH ST SUITE B, LAKE OSWEGO, OR 97034

Signing Officer

Name
Erica Barbosa
Title
Treasurer
Phone
9524869062
Signed
2023-11-15
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
18

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

Form amended for the issuance of the audit

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, Page 2, Part III, Line 4A

Get cities our flagship program since 2019, works to build a more inclusive future in tech, starting at the city level. Our approach is being implemented in chicago, washington dc, and miami, which launched in march 2022. Across our portfolios, get cities hosted or co-hosted 112 events bringing people together around ecosystem building, workforce development, and entrepreneurship, inviting about 40 speakers to share their experience and expertise with more than 2,000 attendees helping them to increase their knowledge. We also spoke on 20 panels, worked with 71 new local and national partners, and added 200 organizations to our network of over 1,000 peer organizations. We supported venture fellows, sponsored a series of pitch competitions to techstars, supported deaf women of color to get hired into cybersecurity roles, and provided grants and tech support to small businesses. Tech equity working group through our tech equity working group, which collaboratively designs city-wide solutions and collective infrastructure to address gender and racial inequities for marginalized founders in chicago, it was possible to raise 8.8m. We kicked off network building with a road show in san francisco and techstars foundercon to bring exposure to the exciting founders coming out of chicago and to build connections across a broader national ecosystem. Headstream we sponsored the national innovation program focused on creating a just and thriving digital economy that supports the wellbeing of young people through a new phase of work and contract process with pivotal ventures. We sponsored the initiative from aug 2021-feb 2022. During this time the project designed its 5 year program, which included impact measurement integration and sustainability planning; the launch of the headstream accelerator; and youth program codification. It also identified program participants and a fiscal sponsor (arabella advisors). Once our sponsorship ended, we served as part of the advisory board for the rest of the year. Black tech street in partnership with secondmuse llc, we have fully supported this innovative initiative with a vision for the rebirth of tulsas black wall street as the new global center for black-owned technology companies. In addition to our sponsorship, we also serve on the advisory board. We have been thrilled to see black tech street covered on various media outlets including cnn, forbes and csr wire. In 2022, it successfully developed a 10-year strategy for the creation of a thriving black techecosystem in tulsa. They also conducted a catalytic factor analysis using digital delta, a tool that was initially developed for headstream. This helped to identify which factor would be most catalytic to solve in the building of black tech street. The founder, tyrance billingsley, said: innovations that change the world dont come from politics; they come from entrepreneurship. Tech companies, including microsoft, have located branches in tulsa, and they are actively recruiting inclusive capital collective the inclusive capital collective (icc) is a growing network of community fund managers and entrepreneur support organizations designing and developing shared technical and financial infrastructure for aggregating and deploying financial capital and other resources to entrepreneurs and communities of color in the us. The network is supported by various funders, including a three- year grant from the economic development administration. In 2022, their individual membership increased from 100 to 250. Several events were held in pennsylvania, chicago, and colorado, which brought together communities from across funders, entrepreneur support organizations, and policymakers for facilitated working sessions and discussions focused on trauma-informed financial programming and products. The icc also published 3 black papers, which highlighted the need for relationship-based lending to drive equity. We supported the icc in publishing 30 capital innovator

Form 990, Part IX, Line 11G

Contractors 3,464,829 442,419 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, 2022, 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/ActivityOrMissionDesc0THE 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.
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IRS990/Desc0GET CITIES OUR FLAGSHIP PROGRAM SINCE 2019, WORKS TO BUILD A MORE INCLUSIVE FUTURE IN TECH, STARTING AT THE CITY LEVEL. OUR APPROACH IS BEING IMPLEMENTED IN CHICAGO, WASHINGTON DC, AND MIAMI, WHICH LAUNCHED IN MARCH 2022. ACROSS OUR PORTFOLIOS, GET CITIES HOSTED OR CO-HOSTED 112 EVENTS BRINGING PEOPLE TOGETHER AROUND ECOSYSTEM BUILDING, WORKFORCE DEVELOPMENT, AND ENTREPRENEURSHIP, INVITING ABOUT 40 SPEAKERS TO SHARE THEIR EXPERIENCE AND EXPERTISE WITH MORE THAN 2,000 ATTENDEES HELPING THEM TO INCREASE THEIR KNOWLEDGE. WE ALSO SPOKE ON 20 PANELS, WORKED WITH 71 NEW LOCAL AND NATIONAL PARTNERS, AND ADDED 200 ORGANIZATIONS TO OUR NETWORK OF OVER 1,000 PEER ORGANIZATIONS. WE SUPPORTED VENTURE FELLOWS, SPONSORED A SERIES OF PITCH COMPETITIONS TO TECHSTARS, SUPPORTED DEAF WOMEN OF COLOR TO GET HIRED INTO CYBERSECURITY ROLES, AND PROVIDED GRANTS AND TECH SUPPORT TO SMALL BUSINESSES. TECH EQUITY WORKING GROUP THROUGH OUR TECH EQUITY WORKING GROUP, WHICH COLLABORATIVELY DESIGNS CITY-WIDE SOLUTIONS AND COLLECTIVE INFRASTRUCTURE TO ADDRESS GENDER AND RACIAL INEQUITIES FOR MARGINALIZED FOUNDERS IN CHICAGO, IT WAS POSSIBLE TO RAISE 8.8M. WE KICKED OFF NETWORK BUILDING WITH A ROAD SHOW IN SAN FRANCISCO AND TECHSTARS FOUNDERCON TO BRING EXPOSURE TO THE EXCITING FOUNDERS COMING OUT OF CHICAGO AND TO BUILD CONNECTIONS ACROSS A BROADER NATIONAL ECOSYSTEM. HEADSTREAM WE SPONSORED THE NATIONAL INNOVATION PROGRAM FOCUSED ON CREATING A JUST AND THRIVING DIGITAL ECONOMY THAT SUPPORTS THE WELLBEING OF YOUNG PEOPLE THROUGH A NEW PHASE OF WORK AND CONTRACT PROCESS WITH PIVOTAL VENTURES. WE SPONSORED THE INITIATIVE FROM AUG 2021-FEB 2022. DURING THIS TIME THE PROJECT DESIGNED ITS 5 YEAR PROGRAM, WHICH INCLUDED IMPACT MEASUREMENT INTEGRATION AND SUSTAINABILITY PLANNING; THE LAUNCH OF THE HEADSTREAM ACCELERATOR; AND YOUTH PROGRAM CODIFICATION. IT ALSO IDENTIFIED PROGRAM PARTICIPANTS AND A FISCAL SPONSOR (ARABELLA ADVISORS). ONCE OUR SPONSORSHIP ENDED, WE SERVED AS PART OF THE ADVISORY BOARD FOR THE REST OF THE YEAR. BLACK TECH STREET IN PARTNERSHIP WITH SECONDMUSE LLC, WE HAVE FULLY SUPPORTED THIS INNOVATIVE INITIATIVE WITH A VISION FOR THE REBIRTH OF TULSAS BLACK WALL STREET AS THE NEW GLOBAL CENTER FOR BLACK-OWNED TECHNOLOGY COMPANIES. IN ADDITION TO OUR SPONSORSHIP, WE ALSO SERVE ON THE ADVISORY BOARD. WE HAVE BEEN THRILLED TO SEE BLACK TECH STREET COVERED ON VARIOUS MEDIA OUTLETS INCLUDING CNN, FORBES AND CSR WIRE. IN 2022, IT SUCCESSFULLY DEVELOPED A 10-YEAR STRATEGY FOR THE CREATION OF A THRIVING BLACK TECHECOSYSTEM IN TULSA. THEY ALSO CONDUCTED A CATALYTIC FACTOR ANALYSIS USING DIGITAL DELTA, A TOOL THAT WAS INITIALLY DEVELOPED FOR HEADSTREAM. THIS HELPED TO IDENTIFY WHICH FACTOR WOULD BE MOST CATALYTIC TO SOLVE IN THE BUILDING OF BLACK TECH STREET. THE FOUNDER, TYRANCE BILLINGSLEY, SAID: INNOVATIONS THAT CHANGE THE WORLD DONT COME FROM POLITICS; THEY COME FROM ENTREPRENEURSHIP. TECH COMPANIES, INCLUDING MICROSOFT, HAVE LOCATED BRANCHES IN TULSA, AND THEY ARE ACTIVELY RECRUITING INCLUSIVE CAPITAL COLLECTIVE THE INCLUSIVE CAPITAL COLLECTIVE (ICC) IS A GROWING NETWORK OF COMMUNITY FUND MANAGERS AND ENTREPRENEUR SUPPORT ORGANIZATIONS DESIGNING AND DEVELOPING SHARED TECHNICAL AND FINANCIAL INFRASTRUCTURE FOR AGGREGATING AND DEPLOYING FINANCIAL CAPITAL AND OTHER RESOURCES TO ENTREPRENEURS AND COMMUNITIES OF COLOR IN THE US. THE NETWORK IS SUPPORTED BY VARIOUS FUNDERS, INCLUDING A THREE- YEAR GRANT FROM THE ECONOMIC DEVELOPMENT ADMINISTRATION. IN 2022, THEIR INDIVIDUAL MEMBERSHIP INCREASED FROM 100 TO 250. SEVERAL EVENTS WERE HELD IN PENNSYLVANIA, CHICAGO, AND COLORADO, WHICH BROUGHT TOGETHER COMMUNITIES FROM ACROSS FUNDERS, ENTREPRENEUR SUPPORT ORGANIZATIONS, AND POLICYMAKERS FOR FACILITATED WORKING SESSIONS AND DISCUSSIONS FOCUSED ON TRAUMA-INFORMED FINANCIAL PROGRAMMING AND PRODUCTS. THE ICC ALSO PUBLISHED 3 BLACK PAPERS, WHICH HIGHLIGHTED THE NEED FOR RELATIONSHIP-BASED LENDING TO DRIVE EQUITY. WE SUPPORTED THE ICC IN PUBLISHING 30 CAPITAL INNOVATOR
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IRS990/MissionDesc0THE 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.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0SECONDMUSE 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, 2022, 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/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt0EACH 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.
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IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE F, PAGE 1, PART I, LINE 2
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IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt7DEPAUL UNIVERSITY
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