Civic Intelligence

Institute for Future Intelligence Inc.

990 • Fiscal year 2022 • EIN 85-1383592

Oct 01, 2021 to Sep 30, 2022 • Filed on Jul 15, 2024

Organization Profileintofuture.org

View Organization Page

26 Rockland StreetNatick, MA 01760

(508) 654-1781

Siviq Scores

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

Liabilities / Assets

94th percentile

1.01x

Higher debt load relative to assets than 94% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

73rd percentile

0.31x

Higher debt load relative to revenue than 73% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

32nd percentile

-1.1%

Higher net margin than 32% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

91st percentile

$209,596

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 20.0% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

94th percentile

98%

Faster asset growth than 94% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

90th percentile

95%

Faster revenue growth than 90% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets94th percentile

Assets

Up

$316,458

Up $157,032 (+98%) from 2021

Net Assets

Down

-$3,839

Down $11,360 (-151%) from 2021

Liabilities

Up

$320,297

Up $168,392 (+111%) from 2021

Revenue And Expenses
Liabilities / Revenue73rd percentileNet Margin32nd percentile

Revenue

Up

$1,046,916

Up $510,141 (+95%) from 2021

Expenses

Up

$1,058,277

Up $529,023 (+100%) from 2021

Net Income

Down

-$11,361

Down $18,882 (-251%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth94th percentile

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

$400K$300K$200K$100K$0-$100KAssets 2021: $159,426Liabilities 2021: $151,905Net Assets 2021: $7,5212021Assets 2022: $316,458Liabilities 2022: $320,297Net Assets 2022: -$3,8392022Assets 2023: $275,461Liabilities 2023: $295,446Net Assets 2023: -$19,9852023Assets 2024: $258,435Liabilities 2024: $304,920Net Assets 2024: -$46,4852024

Highlighted filing

2022

Assets$316,458
Liabilities$320,297
Net Assets-$3,839
Open 2022 Filing

Operations Trend

Revenue Growth90th percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2021: $536,775Expenses 2021: $529,254Net Income 2021: $7,5212021Revenue 2022: $1,046,916Expenses 2022: $1,058,277Net Income 2022: -$11,3612022Revenue 2023: $1,114,612Expenses 2023: $1,130,758Net Income 2023: -$16,1462023Revenue 2024: $1,081,250Expenses 2024: $1,107,750Net Income 2024: -$26,5002024

Highlighted filing

2022

Revenue$1,046,916
Expenses$1,058,277
Net Income-$11,361
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2021 to Sep 30, 2022
Signed
Jul 15, 2024
Return Version
2021v4.2
Gross Receipts
$1,046,916
Mission and Program Overview

Mission

Become a leading institution in research and development that focuses on reimaging the relationship between human and machine and preparing for its profound impacts on society.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$147,917$278,228▲ $130,311
Loans From Officers Directors$39,500$59,500▲ $20,000
Cash and Non-Interest-Bearing Accounts$11,509$38,230▲ $26,721
Total Assets$159,426$316,458▲ $157,032
Liabilities
Accounts Payable and Accrued Expenses$92,405$260,797▲ $168,392
Unsecured Notes Loans Payable$20,000--
Total Liabilities$151,905$320,297▲ $168,392
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$7,521$-3,839▼ $11,360
Total Net Assets Fund Balance$7,521$-3,839▼ $11,360
Total Liabilities and Net Assets / Fund Balance$159,426$316,458▲ $157,032
Compensation and Service Providers
Top Officer Pay91st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Charles XieCEO/TreasurerFT$180,766$31,301$212,067
Kenneth YangCFO/ClerkPT$25,291$1,022$26,313
Dylan BulsecoSenior Vice President-$3,340$401$3,741

Board Members and Trustees

NameTitle
Janice MokrosPresident
Alejandra MaganaDirector
Dave BursellDirector
Eric GirouxDirector
Larry WeathersDirector
Michel KinsyDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$980,270
Program Service Revenue
$66,646
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-11,361
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$568,956
Other Expenses$489,321
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$213,073$18,186-$231,259
Other Salaries and Wages$230,965--$230,965
Other Employee Benefits$71,840$2,164-$74,004
Fees for Services Other$8,985$37,885-$46,870
Payroll Taxes$30,932$1,796-$32,728
Information Technology$7,912$45-$7,957
Fees for Services Management-$2,700-$2,700
Fees for Services Accounting-$2,508-$2,508
Travel$1,532--$1,532
Fees for Service Investment Mgmnt Fees-$1,360-$1,360
Fees for Services Legal-$1,210-$1,210
Interest-$594-$594
Other Expenses$326$119-$445
Office Expenses$105$331-$436
Conferences and Meetings$199--$199
Total Functional Expenses$989,379$68,898$0$1,058,277
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

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$39,500$59,500▲ $20,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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 12C

“Board members and offices must disclose conflict of interest annually, to be reviewed and approved by the board.”

Form 990, Part VI, Section B, Line 15

“The compensation of the CEO is reviewed and apporved by the board annually. The compensation of key employees and officers are reviewed by the CEO.”

Form 990, Part VI, Section C, Line 19

“The governing documents, conflict of interest policy, and financial statements are all available upon request, but also available online with the MA attorney generals office.”

Filing and Contact Details

Filer

Filer Name
Institute for Future Intelligence Inc
EIN
85-1383592
Phone
5086541781
Address
26 Rockland Street, Natick, MA 01760

Signing Officer

Name
Kenneth Yang
Title
CFO
Phone
5086541781
Signed
2024-07-15
Discuss with paid preparer
No

Organization Details

Principal Officer
Kenneth Yang
Formed
2020
Legal Domicile
Ma
Voting Board Members
6
Independent Board Members
6
Employees
7
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4D

“Program Service Expenses 20,404, Grants and allocations 0, Revenue 0 Broadening Participation Research Project Visualizing Computation Solutions to Improve Computational Thinking in Science Courses - This project creates a systematic approach to the development of computational thinking and skills for students taking undergraduate courses in physics and chemistry.”

Form 990, Part IV, Section A, Line 8B

“The board has no committees. The board acts as a whole with respect to all decisions presented to the board.”

Form 990, Part V, Section B, Line 11B

“The 990 form is sent to all board members for review and approval prior to submission.”

Form 990, Part XII, Line 2C

“The board is responsible for overseeing the audit and selection of an independent audit firm.”

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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Charles Xie
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CEO/Treasurer
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Program Service Expenses 20,404, Grants and allocations 0, Revenue 0 Broadening Participation Research Project Visualizing Computation Solutions to Improve Computational Thinking in Science Courses - This project creates a systematic approach to the development of computational thinking and skills for students taking undergraduate courses in physics and chemistry.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The board has no committees. The board acts as a whole with respect to all decisions presented to the board.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The 990 form is sent to all board members for review and approval prior to submission.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Board members and offices must disclose conflict of interest annually, to be reviewed and approved by the board.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The compensation of the CEO is reviewed and apporved by the board annually. The compensation of key employees and officers are reviewed by the CEO.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The governing documents, conflict of interest policy, and financial statements are all available upon request, but also available online with the MA attorney generals office.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6The board is responsible for overseeing the audit and selection of an independent audit firm.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part III, Line 4d
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part IV, Section A, Line 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part V, Section B, Line 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, Line 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section B, Line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part XII, Line 2C
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IRS990/TotalProgramServiceRevenueAmt066646
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IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt020000
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt07 Blossom Circle
IRS990/USAddress/CityNm0Natick
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd001760
IRS990/VotingMembersGoverningBodyCnt06
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IRS990/WebsiteAddressTxt0intofuture.org
IRS990/WhistleblowerPolicyInd0true
ReasonableCauseExplanation/ExplanationTxt0As our revenue exceeded 750,000, a 2 CFR Part 200 Subpart F audit was required. While we had retained an auditor for the prior tax year who had a fee of 7,500, the auditor said that they no longer did single audits causing us to have to seek a new auditor. This process took extra time as the new fee would range from 30,000 to 45,000, which was also unduly burdensome to our company. Because we were beginning as a new first-year client for the new audit firm, the audit took extra time. We need to ensure that the financial statements presented from the audit are equal to the numbers reported in the 990 for consistency.
ReturnHeader/BuildTS02024-08-08 14:25:15Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0false
ReturnHeader/BusinessOfficerGrp/PersonNm0Kenneth Yang
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CFO
ReturnHeader/BusinessOfficerGrp/PhoneNum05086541781
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-07-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Institute for Future Intelligence Inc
ReturnHeader/Filer/BusinessNameControlTxt0INST
ReturnHeader/Filer/EIN0851383592
ReturnHeader/Filer/PhoneNum05086541781
ReturnHeader/Filer/USAddress/AddressLine1Txt026 Rockland Street
ReturnHeader/Filer/USAddress/CityNm0Natick
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MA
ReturnHeader/Filer/USAddress/ZIPCd001760
ReturnHeader/ReturnTs02024-09-13T06:28:52-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02021-10-01
ReturnHeader/TaxPeriodEndDt02022-09-30
ReturnHeader/TaxYr02021

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$316,458
Liabilities
$320,297
Net assets
-$3,839
Revenue
$1,046,916
Expenses
$1,058,277
Net income
-$11,361
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.26$0.30$0.05$1.08$1.11$0.03
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.28$0.30$0.02$1.11$1.13$0.02
2022Detailed filing. Detailed filing data is available for this year.$0.32$0.32$0.00$1.05$1.06$0.01
2021Detailed filing. Detailed filing data is available for this year.$0.16$0.15$0.01$0.54$0.53$0.01