Civic Intelligence

Verge Network Inc

990 • Fiscal year 2021 • EIN 84-2256202

Sep 01, 2020 to Aug 31, 2021 • Filed on Apr 03, 2022

475 Boulevard NEAtlanta, GA 30308

(877) 829-5500

Siviq Scores

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

Liabilities / Assets

56th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

56th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Net Margin

53rd percentile

11%

Higher net margin than 53% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Top Officer Pay

77th percentile

$0

Higher top officer pay than 77% of similar nonprofits.

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

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Asset Growth

74th percentile

34%

Faster asset growth than 74% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

23rd percentile

-35%

Faster revenue growth than 23% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Assets

Up

$113,497

Up $28,796 (+34%) from 2020

Net Assets

Up

$113,497

Up $28,796 (+34%) from 2020

Liabilities

Flat

$0

Flat from 2020

Revenue

Down

$228,460

Down $123,545 (-35%) from 2020

Expenses

Down

$203,665

Down $63,639 (-24%) from 2020

Net Income

Down

$24,795

Down $59,906 (-71%) from 2020

Historical Trend

Balance Sheet Trend

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

$150K$100K$50K$0Assets 2020: $84,701Liabilities 2020: $0Net Assets 2020: $84,7012020Assets 2021: $113,497Liabilities 2021: $0Net Assets 2021: $113,4972021Assets 2022: $94,594Liabilities 2022: $0Net Assets 2022: $94,5942022Assets 2023: $42,251Liabilities 2023: $0Net Assets 2023: $42,2512023

Highlighted filing

2021

Assets$113,497
Liabilities$0
Net Assets$113,497

Operations Trend

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

$400K$200K$0-$200KRevenue 2020: $352,005Expenses 2020: $267,304Net Income 2020: $84,7012020Revenue 2021: $228,460Expenses 2021: $203,665Net Income 2021: $24,7952021Revenue 2022: $159,768Expenses 2022: $178,671Net Income 2022: -$18,9032022Revenue 2023: $119,944Expenses 2023: $172,548Net Income 2023: -$52,6042023

Highlighted filing

2021

Revenue$228,460
Expenses$203,665
Net Income$24,795
Jump To
Filing Snapshot
Filing Period
Sep 1, 2020 to Aug 31, 2021
Signed
Apr 3, 2022
Return Version
2020v4.2
Gross Receipts
$228,460
Mission and Program Overview

Mission

Verge network exists to equip leaders for mission. Verge network is for church leaders, students, entrepreneurs, artists, urban innovators, business leaders, community development specialists, non-profit leaders, church planters and everyday leaders anyone pursuing the mission of god, in community, whatever the context, for the sake of the gospel.verge leaders and churches are engaged in the mission of god, centered around the gospel, in community, and understand the value of staying current on issues surrounding the mission of god. Verge network has a passionate and engaged audience of leaders who want to see the gospel change them, change their communities, change the neighbors and change the world.with over 250,000 members, students and subscribers you are joining an incredible tribe of missional leaders who also want to see god change their worlds.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$75,600$105,449▲ $29,849
Accounts Receivable$9,101$8,048▼ $1,053
Total Assets$84,701$113,497▲ $28,796
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$84,701$113,497▲ $28,796
Total Net Assets Fund Balance$84,701$113,497▲ $28,796
Total Liabilities and Net Assets / Fund Balance$84,701$113,497▲ $28,796
Compensation and Service Providers

Board Members and Trustees

NameTitle
Michael StewartBoard Chairman
Dhati LewisSecretary
Doug PhillipsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$227,366
Investment Income
$0
Other Revenue
$1,094
Change in Net Assets
$24,795
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$203,665
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$125,886--$125,886
Advertising$27,442--$27,442
Information Technology$8,584$8,584-$17,168
Office Expenses-$16,171-$16,171
Other Expenses-$10,384-$10,384
Fees for Services Accounting-$3,404-$3,404
Occupancy-$2,354-$2,354
Travel$856--$856
Total Functional Expenses$162,768$40,897$0$203,665
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
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
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, Part VI, Section B, Line 11B

Prior to filing the form 990, a draft version is circulated to all board members. Board members are encouraged to ask questions by e-mail or directly to organizational staff.

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

The organization's conflict of interest policy may be found in the organization's bylaws, article 8. In january, the board reviews the conflict of interest policy at its annual retreat. Each board member signs an annual statement regarding the conflict of interest policy which confirms that each board member has: received a copy of the conflict of interest policy; read and understands the policy; agrees to comply with the policy; and understands that the corporation is charitable and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes. These statements are renewed annually. When a conflict of interest is identified, the interested person shall leave the meeting and the remaining board members shall discuss and vote on the transaction or arrangement involving the possible conflict of interest. The board will exercise due diligence and investigate alternatives to the proposed transaction/arrangement that would result in a more advantageous transaction/arrangement that would not give rise to a conflict of interest. If a more advantageous transaction/arrangement is not reasonably possible under the circumstances, the board of directors or an appropriate committee shall determine by majority vote of disinterested directors whether the transaction/arrangement is in the corporation's best interest, for its own benefit, and whether it is fair and reasonable. The board shall make a decision based on the above determination.

Form 990, Part VI, Section B, Line 15

The executive director staff researched comparable salaries for executive directors for organizations of similar size.

Form 990, Part VI, Section C, Line 18

The organization makes its form 1023 and form 990 available to the public upon request.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.

Form 990, Part VII Contact Addresses for Officers, Directors, Etc

Michael stewart - 527 boulevard pl ne, atlanta, ga 30308. Dhati lewis - 475 boulevard ave ne, atlanta, ga 30308. Doug phillips - 313 e. Anderson lane, bldg 3, suite 100, austin, tx 78752.

Filing and Contact Details

Filer

Filer Name
Verge Network Inc
EIN
84-2256202
Phone
8778295500
Address
475 BOULEVARD NE, ATLANTA, GA 30308

Signing Officer

Name
Michael Stewart
Title
Executive Director
Phone
8778295500
Signed
2022-04-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Stewart
Formed
2019
Legal Domicile
Ga
Voting Board Members
10
Independent Board Members
10
Employees
0
Volunteers
0

Preparer

Firm
Marshall Jones
Address
3097 E SHADOWLAWN AVE NE, ATLANTA, GA 30305
Preparer
Nathan Lummus
Phone
4042312001
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IRS990/ActivityOrMissionDesc0VERGE NETWORK EXISTS TO EQUIP LEADERS FOR MISSION. VERGE NETWORK IS FOR CHURCH LEADERS, STUDENTS, ENTREPRENEURS, ARTISTS, URBAN INNOVATORS, BUSINESS LEADERS, COMMUNITY DEVELOPMENT SPECIALISTS, NON-PROFIT LEADERS, CHURCH PLANTERS AND EVERYDAY LEADERS ANYONE PURSUING THE MISSION OF GOD, IN COMMUNITY, WHATEVER THE CONTEXT, FOR THE SAKE OF THE GOSPEL.VERGE LEADERS AND CHURCHES ARE ENGAGED IN THE MISSION OF GOD, CENTERED AROUND THE GOSPEL, IN COMMUNITY, AND UNDERSTAND THE VALUE OF STAYING CURRENT ON ISSUES SURROUNDING THE MISSION OF GOD. VERGE NETWORK HAS A PASSIONATE AND ENGAGED AUDIENCE OF LEADERS WHO WANT TO SEE THE GOSPEL CHANGE THEM, CHANGE THEIR COMMUNITIES, CHANGE THE NEIGHBORS AND CHANGE THE WORLD.WITH OVER 250,000 MEMBERS, STUDENTS AND SUBSCRIBERS YOU ARE JOINING AN INCREDIBLE TRIBE OF MISSIONAL LEADERS WHO ALSO WANT TO SEE GOD CHANGE THEIR WORLDS.
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IRS990/MissionDesc0VERGE NETWORK EXISTS TO EQUIP LEADERS FOR MISSION. VERGE NETWORK IS FOR CHURCH LEADERS, STUDENTS, ENTREPRENEURS, ARTISTS, URBAN INNOVATORS, BUSINESS LEADERS, COMMUNITY DEVELOPMENT SPECIALISTS, NON-PROFIT LEADERS, CHURCH PLANTERS AND EVERYDAY LEADERS ANYONE PURSUING THE MISSION OF GOD, IN COMMUNITY, WHATEVER THE CONTEXT, FOR THE SAKE OF THE GOSPEL.VERGE LEADERS AND CHURCHES ARE ENGAGED IN THE MISSION OF GOD, CENTERED AROUND THE GOSPEL, IN COMMUNITY, AND UNDERSTAND THE VALUE OF STAYING CURRENT ON ISSUES SURROUNDING THE MISSION OF GOD. VERGE NETWORK HAS A PASSIONATE AND ENGAGED AUDIENCE OF LEADERS WHO WANT TO SEE THE GOSPEL CHANGE THEM, CHANGE THEIR COMMUNITIES, CHANGE THE NEIGHBORS AND CHANGE THE WORLD.WITH OVER 250,000 MEMBERS, STUDENTS AND SUBSCRIBERS YOU ARE JOINING AN INCREDIBLE TRIBE OF MISSIONAL LEADERS WHO ALSO WANT TO SEE GOD CHANGE THEIR WORLDS.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PRIOR TO FILING THE FORM 990, A DRAFT VERSION IS CIRCULATED TO ALL BOARD MEMBERS. BOARD MEMBERS ARE ENCOURAGED TO ASK QUESTIONS BY E-MAIL OR DIRECTLY TO ORGANIZATIONAL STAFF.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION'S CONFLICT OF INTEREST POLICY MAY BE FOUND IN THE ORGANIZATION'S BYLAWS, ARTICLE 8. IN JANUARY, THE BOARD REVIEWS THE CONFLICT OF INTEREST POLICY AT ITS ANNUAL RETREAT. EACH BOARD MEMBER SIGNS AN ANNUAL STATEMENT REGARDING THE CONFLICT OF INTEREST POLICY WHICH CONFIRMS THAT EACH BOARD MEMBER HAS: RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY; READ AND UNDERSTANDS THE POLICY; AGREES TO COMPLY WITH THE POLICY; AND UNDERSTANDS THAT THE CORPORATION IS CHARITABLE AND IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. THESE STATEMENTS ARE RENEWED ANNUALLY. WHEN A CONFLICT OF INTEREST IS IDENTIFIED, THE INTERESTED PERSON SHALL LEAVE THE MEETING AND THE REMAINING BOARD MEMBERS SHALL DISCUSS AND VOTE ON THE TRANSACTION OR ARRANGEMENT INVOLVING THE POSSIBLE CONFLICT OF INTEREST. THE BOARD WILL EXERCISE DUE DILIGENCE AND INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION/ARRANGEMENT THAT WOULD RESULT IN A MORE ADVANTAGEOUS TRANSACTION/ARRANGEMENT THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. IF A MORE ADVANTAGEOUS TRANSACTION/ARRANGEMENT IS NOT REASONABLY POSSIBLE UNDER THE CIRCUMSTANCES, THE BOARD OF DIRECTORS OR AN APPROPRIATE COMMITTEE SHALL DETERMINE BY MAJORITY VOTE OF DISINTERESTED DIRECTORS WHETHER THE TRANSACTION/ARRANGEMENT IS IN THE CORPORATION'S BEST INTEREST, FOR ITS OWN BENEFIT, AND WHETHER IT IS FAIR AND REASONABLE. THE BOARD SHALL MAKE A DECISION BASED ON THE ABOVE DETERMINATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE EXECUTIVE DIRECTOR STAFF RESEARCHED COMPARABLE SALARIES FOR EXECUTIVE DIRECTORS FOR ORGANIZATIONS OF SIMILAR SIZE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION MAKES ITS FORM 1023 AND FORM 990 AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5MICHAEL STEWART - 527 BOULEVARD PL NE, ATLANTA, GA 30308. DHATI LEWIS - 475 BOULEVARD AVE NE, ATLANTA, GA 30308. DOUG PHILLIPS - 313 E. ANDERSON LANE, BLDG 3, SUITE 100, AUSTIN, TX 78752.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VII CONTACT ADDRESSES FOR OFFICERS, DIRECTORS, ETC
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IRS990/TotalAssetsGrp/EOYAmt0113497
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt040897
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0162768
IRS990/TotalFunctionalExpensesGrp/TotalAmt0203665
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt084701
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0113497
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0162768
IRS990/TotalProgramServiceRevenueAmt0227366
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0228460
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0228460
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt084701
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0113497
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt0856
IRS990/TravelGrp/TotalAmt0856
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0475 BOULEVARD NE
IRS990/USAddress/CityNm0ATLANTA
IRS990/USAddress/StateAbbreviationCd0GA
IRS990/USAddress/ZIPCd030308
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0WWW.VERGENETWORK.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0MICHAEL STEWART
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum08778295500
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-04-03
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0VERGE NETWORK INC
ReturnHeader/Filer/BusinessNameControlTxt0VERG
ReturnHeader/Filer/EIN0842256202
ReturnHeader/Filer/PhoneNum08778295500
ReturnHeader/Filer/USAddress/AddressLine1Txt0475 BOULEVARD NE
ReturnHeader/Filer/USAddress/CityNm0ATLANTA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0GA
ReturnHeader/Filer/USAddress/ZIPCd030308
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0832175462
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MARSHALL JONES
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03097 E SHADOWLAWN AVE NE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ATLANTA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0GA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd030305
ReturnHeader/PreparerPersonGrp/PhoneNum04042312001
ReturnHeader/PreparerPersonGrp/PreparationDt02022-03-31
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0NATHAN LUMMUS
ReturnHeader/ReturnTs02022-04-03T16:34:24-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0MICHAEL
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0STEWART
ReturnHeader/TaxPeriodBeginDt02020-09-01
ReturnHeader/TaxPeriodEndDt02021-08-31
ReturnHeader/TaxYr02020

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