Civic Intelligence

Rfsw Endowment Inc.

990 • Fiscal year 2022 • EIN 85-1208107

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

PO Box 824189Dallas, TX 75382-4189

(214) 363-3911

Siviq Scores

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

Liabilities / Assets

8th percentile

0.00x

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

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

Liabilities / Revenue

8th percentile

0.00x

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

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

Net Margin

65th percentile

16%

Higher net margin than 65% of similar nonprofits.

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

Top Officer Pay

91st percentile

$343,597

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 67.1% of source-year revenue.

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

Asset Growth

7th percentile

-18%

Faster asset growth than 7% of similar nonprofits.

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

Revenue Growth

1st percentile

-96%

Faster revenue growth than 1% of similar nonprofits.

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

Assets

Down

$9,048,434

Down $2,029,477 (-18%) from 2021

Net Assets

Down

$9,048,434

Down $2,029,477 (-18%) from 2021

Liabilities

Flat

$0

Flat from 2021

Revenue

Down

$512,417

Down $10,976,556 (-96%) from 2021

Expenses

Up

$431,181

Up $1,339 (+0.3%) from 2021

Net Income

Down

$81,236

Down $10,977,895 (-99%) from 2021

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2021: $11,077,911Liabilities 2021: $0Net Assets 2021: $11,077,9112021Assets 2022: $9,048,434Liabilities 2022: $0Net Assets 2022: $9,048,4342022Assets 2023: $11,732,098Liabilities 2023: $0Net Assets 2023: $11,732,0982023Assets 2024: $13,223,178Liabilities 2024: $0Net Assets 2024: $13,223,1782024

Highlighted filing

2022

Assets$9,048,434
Liabilities$0
Net Assets$9,048,434

Operations Trend

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

$15M$10M$5.0M$0Revenue 2021: $11,488,973Expenses 2021: $429,842Net Income 2021: $11,059,1312021Revenue 2022: $512,417Expenses 2022: $431,181Net Income 2022: $81,2362022Revenue 2023: $2,143,331Expenses 2023: $435,795Net Income 2023: $1,707,5362023Revenue 2024: $1,866,021Expenses 2024: $751,473Net Income 2024: $1,114,5482024

Highlighted filing

2022

Revenue$512,417
Expenses$431,181
Net Income$81,236
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 15, 2023
Return Version
2022v5.0
Gross Receipts
$5,298,399
Mission and Program Overview

Mission

To support and benefit retina foundation of the southwest

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$11,068,417$8,784,354▼ $2,284,063
Savings and Temporary Cash Investments$9,494$264,080▲ $254,586
Total Assets$11,077,911$9,048,434▼ $2,029,477
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets With Donor Restrictions$7,915,433$6,464,614▼ $1,450,819
Net Assets Without Donor Restrictions$3,162,478$2,583,820▼ $578,658
Total Net Assets Fund Balance$11,077,911$9,048,434▼ $2,029,477
Total Liabilities and Net Assets / Fund Balance$11,077,911$9,048,434▼ $2,029,477

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$111,052--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2022$11,077,911-▼ $1,598,296-$9,048,434
2021-$10,509,073▲ $998,680-$11,077,911
Compensation and Service Providers

Employees

NameTitleOtherTotal
Natalie GilbertSecretary and Treasurer$144,443$144,443

Board Members and Trustees

NameTitle
William HuttonChair
Karl CsakyPresident
Steve RogersVice Chair
Alex CenaDirector
Jeff YarckinDirector
Lou GrabowskyDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$512,417
Other Revenue
$0
Change in Net Assets
$81,236

Audited Revenue Reconciliation

Revenue per Audited Statements
$512,417
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$-2,110,713
Total Revenue per Audited Statements
$-1,598,296
Total Revenue per Form 990
$512,417
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$399,985
Other Expenses$31,196
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$399,985--$399,985
Fees for Service Investment Mgmnt Fees-$31,196-$31,196
Total Functional Expenses$399,985$31,196$0$431,181

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$431,181
Total Expenses per Audited Statements$431,181
Total Expenses per Form 990$431,181
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Retina Foundation of the SouthwestDallas, TX501(c)(3)To Support and Benefit Retina Foundation of the Southwest$399,985
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
Audit committee
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
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

The form 990 is reviewed by board members before filing.

Form 990, Part VI, Section C, Line 19

This information is available upon request.

Filing and Contact Details

Filer

Filer Name
Rfsw Endowment Inc
EIN
85-1208107
Phone
2143633911
Address
PO BOX 824189, DALLAS, TX 75382-4189

Signing Officer

Name
Karl Csaky
Title
President
Phone
2143633911
Signed
2023-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Karl Csaky
Formed
2020
Legal Domicile
TX
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
5

Preparer

Firm
Weaver and Tidwell Llp
Address
2300 N FIELD ST STE 1000, DALLAS, TX 75201
Preparer
Sara Burkhart
Phone
9724901970
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

The process has not changed from the previous year.

Financial Statement Notes

PART X, LINE 2:

The endowment has been recognized by the internal revenue service as a nonprofit corporation exempt from federal income tax on its income, under section 501(c)(3) of the internal revenue code. The endowment follows the provisions of asc 740-10, income taxes, related to unrecognized tax positions. The endowment recognizes the tax benefits from uncertain positions only if it is more likely than not that the tax positions will be sustained on examination by the taxing authorities, based on the technical merits of the positions. The tax benefits recognized in the financial statements from such positions are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The endowment does not believe there are any material uncertain tax positions and accordingly, it will not recognize any liability for unrecognized tax benefits. For the years ended december 31, 2022 and 2021, there were no interest or penalties recorded or included in the financial statements. The endowment is relying on its tax-exempt status and its adherence to all applicable laws and regulations to preserve that status. However, the conclusions regarding accounting for uncertainty in income taxes will be subject to review and may be adjusted at a later date based on factors including, but not limited to, ongoing analysis of tax laws, regulations, and interpretations thereof. The endowment's information returns are generally subject to examination for three years after the later of the due date or date of filing. The first year the endowment filed an informational return will be the year of its inception, 2021.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ENDOWMENT HAS BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE AS A NONPROFIT CORPORATION EXEMPT FROM FEDERAL INCOME TAX ON ITS INCOME, UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE ENDOWMENT FOLLOWS THE PROVISIONS OF ASC 740-10, INCOME TAXES, RELATED TO UNRECOGNIZED TAX POSITIONS. THE ENDOWMENT RECOGNIZES THE TAX BENEFITS FROM UNCERTAIN POSITIONS ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITIONS WILL BE SUSTAINED ON EXAMINATION BY THE TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITIONS. THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM SUCH POSITIONS ARE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE ENDOWMENT DOES NOT BELIEVE THERE ARE ANY MATERIAL UNCERTAIN TAX POSITIONS AND ACCORDINGLY, IT WILL NOT RECOGNIZE ANY LIABILITY FOR UNRECOGNIZED TAX BENEFITS. FOR THE YEARS ENDED DECEMBER 31, 2022 AND 2021, THERE WERE NO INTEREST OR PENALTIES RECORDED OR INCLUDED IN THE FINANCIAL STATEMENTS. THE ENDOWMENT IS RELYING ON ITS TAX-EXEMPT STATUS AND ITS ADHERENCE TO ALL APPLICABLE LAWS AND REGULATIONS TO PRESERVE THAT STATUS. HOWEVER, THE CONCLUSIONS REGARDING ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES WILL BE SUBJECT TO REVIEW AND MAY BE ADJUSTED AT A LATER DATE BASED ON FACTORS INCLUDING, BUT NOT LIMITED TO, ONGOING ANALYSIS OF TAX LAWS, REGULATIONS, AND INTERPRETATIONS THEREOF. THE ENDOWMENT'S INFORMATION RETURNS ARE GENERALLY SUBJECT TO EXAMINATION FOR THREE YEARS AFTER THE LATER OF THE DUE DATE OR DATE OF FILING. THE FIRST YEAR THE ENDOWMENT FILED AN INFORMATIONAL RETURN WILL BE THE YEAR OF ITS INCEPTION, 2021.
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IRS990ScheduleD/TotalExpensesPerForm990Amt0431181
IRS990ScheduleD/TotalRevenuePerForm990Amt0512417
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IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0431181
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IRS990ScheduleI/RecipientTable/RecipientEIN0510151514
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IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
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IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 IS REVIEWED BY BOARD MEMBERS BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THIS INFORMATION IS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE PROCESS HAS NOT CHANGED FROM THE PREVIOUS YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
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IRS990ScheduleR/AssetSaleToOtherOrgInd00
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IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
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IRS990ScheduleR/SharingOfFacilitiesInd01
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IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0KARL CSAKY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02143633911
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0RFSW ENDOWMENT INC

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