Civic Intelligence

Institute for Physical Sciences Inc

990 • Fiscal year 2014 • EIN 85-0426779

Jan 01, 2014 to Dec 31, 2014 • Filed on Nov 03, 2015

1365 Beverly Road No 300Mclean, VA 22101

(703) 760-9889

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Flat

$1,100,789

Flat from 2014

Net Assets

Flat

$281,491

Flat from 2014

Liabilities

Flat

$819,298

Flat from 2014

Revenue And Expenses

Revenue

Flat

$6,101,992

Flat from 2014

Expenses

Flat

$7,267,181

Flat from 2014

Net Income

Flat

-$1,165,189

Flat from 2014

Historical Trend

Balance Sheet Trend

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

$4.0M$2.0M$0-$2.0MAssets 2010: $3,733,571Liabilities 2010: $1,924,238Net Assets 2010: $1,809,3332010Assets 2011: $2,093,075Liabilities 2011: $2,412,568Net Assets 2011: -$319,4932011Assets 2012: $2,665,751Liabilities 2012: $1,863,778Net Assets 2012: $801,9732012Assets 2013: $3,404,350Liabilities 2013: $1,957,670Net Assets 2013: $1,446,6802013Assets 2014: $1,100,789Liabilities 2014: $819,298Net Assets 2014: $281,4912014Assets 2014: $1,100,789Liabilities 2014: $819,298Net Assets 2014: $281,4912014Assets 2015: $418,751Liabilities 2015: $84,281Net Assets 2015: $334,4702015Assets 2016: $820,681Liabilities 2016: $687,404Net Assets 2016: $133,2772016Assets 2017: $67,812Liabilities 2017: $30,178Net Assets 2017: $37,6342017

Highlighted filing

2014

Assets$1,100,789
Liabilities$819,298
Net Assets$281,491

Operations Trend

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

$15M$10M$5.0M$0-$5.0MRevenue 2010: $9,339,872Expenses 2010: $8,732,080Net Income 2010: $607,7922010Revenue 2011: $7,404,929Expenses 2011: $9,533,752Net Income 2011: -$2,128,8232011Revenue 2012: $10,227,366Expenses 2012: $9,105,900Net Income 2012: $1,121,4662012Revenue 2013: $10,046,440Expenses 2013: $9,401,733Net Income 2013: $644,7072013Revenue 2014: $6,101,992Expenses 2014: $7,267,181Net Income 2014: -$1,165,1892014Revenue 2014: $6,101,992Expenses 2014: $7,267,181Net Income 2014: -$1,165,1892014Revenue 2015: $1,528,090Expenses 2015: $1,475,111Net Income 2015: $52,9792015Revenue 2016: $1,366,033Expenses 2016: $1,567,226Net Income 2016: -$201,1932016Revenue 2017: $432,519Expenses 2017: $567,455Net Income 2017: -$134,9362017

Highlighted filing

2014

Revenue$6,101,992
Expenses$7,267,181
Net Income-$1,165,189
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Nov 3, 2015
Return Version
2014v5.0
Gross Receipts
$6,101,992
Mission and Program Overview

Mission

To promote and carry out scientific research.

To promote and carry out scientific research in various areas of physics.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$2,492,027$472,988▼ $2,019,039
Land, Buildings, and Equipment, Net$540,672$429,105▼ $111,567
Cash and Non-Interest-Bearing Accounts$228,068$91,063▼ $137,005
Prepaid Expenses and Deferred Charges$118,522$16,483▼ $102,039
Total Assets$3,404,350$1,100,789▼ $2,303,561
Other Assets Total$25,061$91,150▲ $66,089
Liabilities
Accounts Payable and Accrued Expenses$1,557,670$499,298▼ $1,058,372
Unsecured Notes Loans Payable$400,000$320,000▼ $80,000
Total Liabilities$1,957,670$819,298▼ $1,138,372
Net Assets / Fund Balance
Unrestricted Net Assets$1,446,680$281,491▼ $1,165,189
Total Net Assets Fund Balance$1,446,680$281,491▼ $1,165,189
Total Liabilities and Net Assets / Fund Balance$3,404,350$1,100,789▼ $2,303,561

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$396,150$668,247$1,064,397
Equipment$22,892$207,426$230,318
Leasehold Improvements$10,063$142,669$152,732
Other Assets Org$74,183--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Ronnie MainieriPresident/treasurerFT$388,273$34,224$422,497
Thad BrownCEO/chairmanFT$349,114$24,927$374,041
Karen T ParsonsSenior ScientistFT$223,926$7,485$231,411
Gregory Kent JohnsonIt ManagerFT$177,226$12,514$189,740
Catherine a HollandSenior ScientistFT$182,693$4,935$187,628
Sarah J DimonteHr/contracts MgrFT$153,808$31,335$185,143
Haeok Skarda LeeSenior ScientistFT$165,002$11,618$176,620
David C DoolingSenior ScientistFT$158,129$17,131$175,260
David MeyerSecretary-$8,872$88$8,960

Board Members and Trustees

NameTitle
David CampbellBoard Member
Gary DoolenBoard Member

Highest Paid Contractors

ContractorServicesLocationCompensation
Samantha Fay RavichPersonal Services1321 PARK ROAD, Alexandria, VA 22312$107,160
Revenue and Support

Revenue Composition

Contributions and Grants
$6,054,587
Program Service Revenue
$0
Investment Income
$47,405
Other Revenue
$0
Change in Net Assets
$-1,165,189
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,161,221
Other Expenses$3,105,960
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,592,472$363,851-$1,956,323
Current Officers, Directors, Trustees, and Key Employees$934,418$213,498-$1,147,916
Other Employee Benefits$636,830$144,747-$781,577
Occupancy$379,937$89,121-$469,058
Payroll Taxes$224,401$51,004-$275,405
Depreciation Depletion$209,028$12,513-$221,541
Other Expenses$112,030$6,664-$118,694
Information Technology$47,012$10,741-$57,753
Travel$20,299$22,154-$42,453
Office Expenses$33,099$7,764-$40,863
Fees for Services Accounting-$38,513-$38,513
All Other Expenses$26,970$2,547-$29,517
Interest-$12,800-$12,800
Conferences and Meetings$400$7,273-$7,673
Fees for Services Legal-$7,119-$7,119
Total Functional Expenses$6,098,105$1,169,076$0$7,267,181
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-R. Mainieri Is a Shareholder of the CorporationRonnie Mainieri Is the President of the Organization and a Shareholder of Permission Bit, Inc. the Permission Bit, Inc. Performed Services During the Year for the Organization as a Subcontractor. All Transactions Are at Arms Length and Fair Market Value.No$2,227,238
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
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, Part VI, Section A, Line 8B

There are no committees with authority to act on behalf of the governing body; thus there are no minutes to document.

Form 990, Part VI, Section B, Line 11

After the 990 is prepared by the public accounting firm, a draft copy is returned to the organization for review by the accounting department and the director of business operations. Adjustments, if any, are corrected. The return is then presented to the president/treasurer and chairman/ceo of the company for final review, approval, and signature.

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

Board members are asked annually about conflict of interests. Potential conflicts are reviewed on a case by case basis and adjustments (such as resignations or reassignment) are made accordingly. In the event of a conflict during the year, the board member with the potential conflict will recuse himself/herself from the discussion and vote.

Form 990, Part VI, Section B, Line 15

Annual reviews for employees are documented and are based on performance evaluations and the type of work performed. Outside factors are also considered, such as market rate for the quality of services rendered. The government audit departments constantly reviews ips' cost proposals submitted for government contract awards for reasonable pricing, which includes current salary expenses and estimated escalation rates. Acceptance of these rates represents approval from an independent source.

Form 990, Part VI, Section C, Line 19

Ips does not make their governing documents, conflict of interest policy or financial statements available to the public.

Filing and Contact Details

Filer

Filer Name
Institute for Physical Science Inc
EIN
85-0426779
Phone
7037609889
Address
1365 BEVERLY ROAD NO 300, MCLEAN, VA 22101

Signing Officer

Name
Ronnie Mainieri
Title
President
Phone
7037609889
Signed
2015-11-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Thad Brown
Formed
1994
Legal Domicile
Nm
Voting Board Members
5
Independent Board Members
3
Employees
40
Volunteers
2

Preparer

Firm
Cherry Bekaert Llp
Address
1111 METROPOLITAN AVE STE 1000, CHARLOTTE, NC 28204
Preparer
Janice a Ratica
Phone
7043771678
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IRS990/PYTotalExpensesAmt09401733
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IRS990/QuidProQuoContributionsInd00
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IRS990/ReconcilationRevenueExpnssAmt0-1165189
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
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IRS990/ReportLandBuildingEquipmentInd01
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IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt010038426
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IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt022892
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IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0230318
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt010063
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt70
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt02574
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt12574
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt21603
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt30
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt51755
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt60
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt70

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