Civic Intelligence

Bgca Funds Holdco Inc.

990 • Fiscal year 2021 • EIN 85-2422429

Jan 01, 2021 to Dec 31, 2021 • Filed on Oct 05, 2022

1275 Peachtree Street NEAtlanta, GA 30309-3506

(404) 487-5403

Siviq Scores

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

Liabilities / Assets

28th percentile

0.12x

Higher debt load relative to assets than 28% of similar nonprofits.

2021 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2021

Liabilities / Revenue

98th percentile

14.72x

Higher debt load relative to revenue than 98% of similar nonprofits.

2021 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2021

Net Margin

99th percentile

94%

Higher net margin than 99% of similar nonprofits.

2021 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2021

Top Officer Pay

29th percentile

$474,677

Higher top officer pay than 29% of similar nonprofits.

Top officer pay equals 15.7% of source-year revenue.

2021 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2021

Asset Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2020 to 2021

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2020 to 2021

Assets

Up

$371,386,272

Up $371,386,272 from 2020

Net Assets

Up

$327,014,209

Up $327,014,209 from 2020

Liabilities

Up

$44,372,063

Up $44,372,063 from 2020

Revenue

Up

$3,015,210

Up $3,015,210 from 2020

Expenses

Up

$195,619

Up $195,619 from 2020

Net Income

Up

$2,819,591

Up $2,819,591 from 2020

Historical Trend

Balance Sheet Trend

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

$400M$300M$200M$100M$0Assets 2020: $0Liabilities 2020: $0Net Assets 2020: $02020Assets 2021: $371,386,272Liabilities 2021: $44,372,063Net Assets 2021: $327,014,2092021Assets 2022: $354,925,914Liabilities 2022: $41,542,035Net Assets 2022: $313,383,8792022Assets 2023: $357,918,645Liabilities 2023: $12,455,570Net Assets 2023: $345,463,0752023Assets 2024: $348,092,261Liabilities 2024: $12,991,038Net Assets 2024: $335,101,2232024

Highlighted filing

2021

Assets$371,386,272
Liabilities$44,372,063
Net Assets$327,014,209

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2020: $0Expenses 2020: $0Net Income 2020: $02020Revenue 2021: $3,015,210Expenses 2021: $195,619Net Income 2021: $2,819,5912021Revenue 2022: $223,714Expenses 2022: $723,672Net Income 2022: -$499,9582022Revenue 2023: $3,641,599Expenses 2023: $328,517Net Income 2023: $3,313,0822023Revenue 2024: $5,502,212Expenses 2024: $275,497Net Income 2024: $5,226,7152024

Highlighted filing

2021

Revenue$3,015,210
Expenses$195,619
Net Income$2,819,591
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Oct 5, 2022
Return Version
2021v4.2
Gross Receipts
$45,721,313
Mission and Program Overview

Mission

The mission of the organization is to operate exclusively for the benefit of, or to carry out the purposes of, boys & girls clubs of america, a d.c. Corporation that was congressionally chartered in 1965 ("boys & girls clubs of america") and whose mission is, "to enable all young people, especially those who need us most, to reach their full potential as productive, caring, responsible citizens."

To enable all young people, especially those who need us most, to reach their full potential as productive, caring, responsible citizens.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$0$205,089,120▲ $205,089,120
Investments in Publicly Traded Securities$0$151,395,298▲ $151,395,298
Cash and Non-Interest-Bearing Accounts$0$77,877▲ $77,877
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$0$371,386,272▲ $371,386,272
Other Assets Total$0$14,823,977▲ $14,823,977
Liabilities
Other Liabilities$0$44,372,063▲ $44,372,063
Accounts Payable and Accrued Expenses$0$0→ $0
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$0$44,372,063▲ $44,372,063
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$0$327,014,209▲ $327,014,209
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$0$327,014,209▲ $327,014,209
Total Liabilities and Net Assets / Fund Balance$0$371,386,272▲ $371,386,272

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$144,415,997--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021-$261,677,128▲ $37,658,497$9,930,496$288,377,095
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$250,000
Program Service Revenue
$0
Investment Income
$2,765,210
Other Revenue
$0
All Other Contributions
$250,000
Change in Net Assets
$2,819,591
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$195,619
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
Other Expenses-$55,838-$55,838
Total Functional Expenses$0$195,619$0$195,619
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
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$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Other Liabilities$29,548,086
Obligations for Custodial Funds$14,823,977
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
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
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

FORM 990, PART VI, SECTION A, QUESTION 11:

Governing body's review of form 990 a draft of the form 990 is circulated to the board of governors for its review, recommendations and approval. Changes, if any, recommended by the board are incorporated in the form 990 before its submission.

FORM 990, PART VI, SECTION B, QUESTION 12C:

Monitoring conflicts of interest boys & girls clubs of america has developed two separate codes of ethics policies one for the employees and the other for governors and trustees, both of which address conflicts of interests and whistle blowing policies within them. These policies were approved by the board of governors. The code of ethics for employees is executed by all new employees at the time of hire and annually on an ongoing basis. Likewise, the code of ethics for governors must be executed by all new governors and they are asked to review and execute on an annual basis. The human resource department of boys & girls clubs of america is responsible for monitoring the execution of the employees' code of ethics and the resource development department is responsible for monitoring the execution code of ethics for governors & trustees. In addition, the board of governors has an ethicist on the board to monitor ethical concerns at that level. Boys & girls clubs of america has an ethics hotline and two ethics officers who monitor ethical concerns on an ongoing basis by: - ensuring the code of ethics is updated at least annually and continues to replicate best practices of other for-profit and not-for-profit organizations; - reviewing and responding appropriately to all questions, issues, and complaints and ensuring the code of ethics is clarified and/or revised based on the input received; - reporting any significant ethical concerns to all necessary committees of the board and/or the board; - requiring a member of the board of governors receive all formal complaints and enlist their involvement in the resolution and response to complaints as needed; and - conducting training on the code of ethics as needed.

FORM 990, PART VI, SECTION C, QUESTION 19:

Governing documents, conflict of interest policy, and financials. Boys & girls clubs of america maintains a comprehensive website www.bgca.org that includes multiple years of annual reports and forms 990 to which the general public has access. The website also provides information regarding the history of the organization, board of governors, mission of the organization, details of various programs, partners, alumni, privacy policy etc.

Filing and Contact Details

Filer

Filer Name
BGCA Funds Holdco Inc
EIN
85-2422429
In Care Of
% JASON PENEGAR
Phone
4044875403
Address
1275 Peachtree Street NE, Atlanta, GA 30309-3506

Signing Officer

Name
Samuel J Unglo
Title
President & CEO
Phone
4044875700
Signed
2022-10-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Samuel J Unglo
Formed
2020
Legal Domicile
Ga
Voting Board Members
9
Independent Board Members
7
Employees
0
Volunteers
0

Preparer

Firm
Bdo USA Llp
Address
1100 Peachtree Street Suite 700, ATLANTA, GA 30309-4516
Preparer
Sandra L Feinsmith
Phone
4046886841
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

transfer from supported organization OF $287,393,488.

Financial Statement Notes

SCHEDULE D, PART IV, LINE 2B:

Custodial funds boys & girls clubs of america has custody of certain assets which are being held and disbursed only on instructions of the person or organization from which they were received. These custodial funds and related obligations are included in the statement of financial position, however additions to/disbursements from these funds are not considered part of bgca's operations.

SCHEDULE D, PART V, QUESTION 4:

Endowment funds boys & girls clubs of america's endowment consists of funds established for a variety of purposes, including both donor-restricted and unrestricted endowment funds and funds designated by the board of governors to function as endowments. Income from the endowments is used in accordance with the donor stipulations for programs; in the absence of any donor stipulations, the income is used to support the mission of the organization, according to the spending policy established by bgca's board of governors.

SCHEDULE D, PART X, Question 2

Fin 48 footnote bgca is recognized as an organization exempt from federal income taxes under section 501(a) of the internal revenue code (the code) as an organization described in section 501(c)(3) whereby only unrelated business income, as defined by section 512(a)(1) of the code, is subject to federal income tax. During 2021 and 2020, $678,397 and $121,859, respectively, was paid for income taxes. Bgca's subsidiary alliance organizations are exempt from federal income taxes under either section 501(c)(4) or section 501(c)(3) of the code.

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IRS990/MissionDesc0THE MISSION OF THE ORGANIZATION IS TO OPERATE EXCLUSIVELY FOR THE BENEFIT OF, OR TO CARRY OUT THE PURPOSES OF, BOYS & GIRLS CLUBS OF AMERICA, A D.C. CORPORATION THAT WAS CONGRESSIONALLY CHARTERED IN 1965 ("BOYS & GIRLS CLUBS OF AMERICA") AND WHOSE MISSION IS, "TO ENABLE ALL YOUNG PEOPLE, ESPECIALLY THOSE WHO NEED US MOST, TO REACH THEIR FULL POTENTIAL AS PRODUCTIVE, CARING, RESPONSIBLE CITIZENS."
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0BOYS & GIRLS CLUBS OF AMERICA
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0OBLIGATIONS FOR CUSTODIAL FUNDS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1OTHER LIABILITIES
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IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt244491568
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IRS990ScheduleD/OtherSecuritiesGrp/Desc0FIXED INCOME SECURITIES
IRS990ScheduleD/OtherSecuritiesGrp/Desc1INVESTMENTS IN COMMUNITY FDN
IRS990ScheduleD/OtherSecuritiesGrp/Desc2ALTERNATIVE PRIVATE EQUITY
IRS990ScheduleD/OtherSecuritiesGrp/Desc3ALT. MULTI-STRATEGY HEDGE
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IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd3F
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct00.15000
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0CUSTODIAL FUNDS BOYS & GIRLS CLUBS OF AMERICA HAS CUSTODY OF CERTAIN ASSETS WHICH ARE BEING HELD AND DISBURSED ONLY ON INSTRUCTIONS OF THE PERSON OR ORGANIZATION FROM WHICH THEY WERE RECEIVED. THESE CUSTODIAL FUNDS AND RELATED OBLIGATIONS ARE INCLUDED IN THE STATEMENT OF FINANCIAL POSITION, HOWEVER ADDITIONS TO/DISBURSEMENTS FROM THESE FUNDS ARE NOT CONSIDERED PART OF BGCA'S OPERATIONS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1ENDOWMENT FUNDS BOYS & GIRLS CLUBS OF AMERICA'S ENDOWMENT CONSISTS OF FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES, INCLUDING BOTH DONOR-RESTRICTED AND UNRESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF GOVERNORS TO FUNCTION AS ENDOWMENTS. INCOME FROM THE ENDOWMENTS IS USED IN ACCORDANCE WITH THE DONOR STIPULATIONS FOR PROGRAMS; IN THE ABSENCE OF ANY DONOR STIPULATIONS, THE INCOME IS USED TO SUPPORT THE MISSION OF THE ORGANIZATION, ACCORDING TO THE SPENDING POLICY ESTABLISHED BY BGCA'S BOARD OF GOVERNORS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2FIN 48 FOOTNOTE BGCA IS RECOGNIZED AS AN ORGANIZATION EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE (THE CODE) AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) WHEREBY ONLY UNRELATED BUSINESS INCOME, AS DEFINED BY SECTION 512(A)(1) OF THE CODE, IS SUBJECT TO FEDERAL INCOME TAX. DURING 2021 AND 2020, $678,397 AND $121,859, RESPECTIVELY, WAS PAID FOR INCOME TAXES. BGCA'S SUBSIDIARY ALLIANCE ORGANIZATIONS ARE EXEMPT FROM FEDERAL INCOME TAXES UNDER EITHER SECTION 501(C)(4) OR SECTION 501(C)(3) OF THE CODE.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PART IV, LINE 2B:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PART V, QUESTION 4:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE D, PART X, Question 2
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