Civic Intelligence

Sky Foundation

990PF • Fiscal year 2020 • EIN 85-2640958

Jan 01, 2020 to Dec 31, 2020 • Filed on Mar 02, 2022

Organization Profile
foundation source 501 silverside rdwilmington, DE 19809

(800) 839-1754

Siviq Scores

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

Liabilities / Assets

23rd percentile

0.00x

Higher debt load relative to assets than 23% of similar nonprofits.

2020 filings • $5M-$10M nonprofits • Source year 2020

Liabilities / Revenue

21st percentile

0.00x

Higher debt load relative to revenue than 21% of similar nonprofits.

2020 filings • $5M-$10M nonprofits • Source year 2020

Net Margin

98th percentile

100%

Higher net margin than 98% of similar nonprofits.

2020 filings • $5M-$10M nonprofits • Source year 2020

Top Officer Pay

31st percentile

$0

Higher top officer pay than 31% of similar nonprofits.

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

2020 filings • $5M-$10M nonprofits • Source year 2020

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2020

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2020

Balance Sheet
Liabilities / Assets23rd percentile

Assets

$6,574,867

No earlier filing loaded for comparison.

Net Assets

$6,574,867

No earlier filing loaded for comparison.

Liabilities

$1

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue21st percentileNet Margin98th percentile

Revenue

$6,601,115

No earlier filing loaded for comparison.

Expenses

$26,248

No earlier filing loaded for comparison.

Net Income

$6,574,867

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$15M$10M$5.0M$0Assets 2020: $6,574,867Liabilities 2020: $1Net Assets 2020: $6,574,8672020Assets 2021: $10,661,132Liabilities 2021: $59,249Net Assets 2021: $10,601,8832021Assets 2022: $10,383,423Liabilities 2022: $1Net Assets 2022: $10,383,4232022Assets 2023: $10,165,846Liabilities 2023: $1Net Assets 2023: $10,165,8462023Assets 2024: $9,983,686Liabilities 2024: $0Net Assets 2024: $9,983,6862024

Highlighted filing

2020

Assets$6,574,867
Liabilities$1
Net Assets$6,574,867
Open 2020 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2020: $6,601,115Expenses 2020: $26,248Net Income 2020: $6,574,8672020Revenue 2021: $4,245,336Expenses 2021: $218,320Net Income 2021: $4,027,0162021Revenue 2022: $158,129Expenses 2022: $376,589Net Income 2022: -$218,4602022Revenue 2023: $271,437Expenses 2023: $489,014Net Income 2023: -$217,5772023Revenue 2024: $269,227Expenses 2024: $451,387Net Income 2024: -$182,1602024

Highlighted filing

2020

Revenue$6,601,115
Expenses$26,248
Net Income$6,574,867
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Mar 2, 2022
Return Version
2020v4.1
Compensation and Service Providers
Top Officer Pay31st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jennifer YoungDirector-$0--
Kenneth YoungDirector-$0--
Doug DanielsDirector-$0--
Filing and Contact Details

Filer

Filer Name
The Sky Foundation Inc
EIN
85-2640958
In Care Of
% FOUNDATION SOURCE
Phone
8008391754
Address
foundation source 501 silverside rd, wilmington, DE 19809

Signing Officer

Name
kenneth young
Title
president
Phone
8008391754
Signed
2022-03-02
Discuss with paid preparer
Yes

Preparer

Firm
Foundation Source
Address
ONE HOLLOW LN STE 212, LAKE SUCCESS, NY 11042
Preparer
Jeffrey D Haskell
Phone
8008391754
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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990PF/UndistributedIncomeGrp/AppliedToCurrentYearAmt020500
IRS990PF/UndistributedIncomeGrp/DistributableAsAdjustedAmt061195
IRS990PF/UndistributedIncomeGrp/ExcessDistriCyovToNextYrAmt00
IRS990PF/UndistributedIncomeGrp/ExcessFromCurrentYearAmt00
IRS990PF/UndistributedIncomeGrp/PriorYear1Yr02018
IRS990PF/UndistributedIncomeGrp/PriorYear2Yr02017
IRS990PF/UndistributedIncomeGrp/PriorYear3Yr02016
IRS990PF/UndistributedIncomeGrp/QualifyingDistributionsAmt020500
IRS990PF/UndistributedIncomeGrp/RemainingDistriFromCorpusAmt00
IRS990PF/UndistributedIncomeGrp/TotalCorpusAmt00
IRS990PF/UndistributedIncomeGrp/UndistributedIncomeCYAmt040695
IRS990ScheduleB/ContributorInformationGrp/ContributorNum01
IRS990ScheduleB/ContributorInformationGrp/ContributorPersonNm0Young Kenneth
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine1Txt0259 W 4th Street Apt 17
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/CityNm0New York
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/StateAbbreviationCd0NY
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCd010014
IRS990ScheduleB/ContributorInformationGrp/NoncashContributionInd0X
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt06504702
IRS990ScheduleB/GeneralRuleInd0X
IRS990ScheduleB/NonCashPropertyContributionGrp/ContributorNum01
IRS990ScheduleB/NonCashPropertyContributionGrp/ContributorNum11
IRS990ScheduleB/NonCashPropertyContributionGrp/FairMarketValueAmt05888112
IRS990ScheduleB/NonCashPropertyContributionGrp/FairMarketValueAmt1616590
IRS990ScheduleB/NonCashPropertyContributionGrp/NoncashPropertyDesc0DATADOG INC DDOG, 72300 sh.
IRS990ScheduleB/NonCashPropertyContributionGrp/NoncashPropertyDesc1DATADOG INC DDOG, 6000 sh.
IRS990ScheduleB/NonCashPropertyContributionGrp/ReceivedDt02020-09-09
IRS990ScheduleB/NonCashPropertyContributionGrp/ReceivedDt12020-12-15
IRS990ScheduleB/Organization501c3ExemptPFInd0X
LegalFeesSchedule/LegalFeesGrp/CategoryTxt0Foundation Formation/1023 Prep
LegalFeesSchedule/LegalFeesGrp/DisbursementsCharitablePrpsAmt015000
LegalFeesSchedule/LegalFeesGrp/LegalFeesAmt015000
OtherExpensesSchedule/OtherExpensesScheduleGrp/Desc0Administrative Set-Up Fee
OtherExpensesSchedule/OtherExpensesScheduleGrp/Desc1Bank Charges
OtherExpensesSchedule/OtherExpensesScheduleGrp/DisbursementsCharitablePrpsAmt05500
OtherExpensesSchedule/OtherExpensesScheduleGrp/NetInvestmentIncomeAmt030
OtherExpensesSchedule/OtherExpensesScheduleGrp/RevenueAndExpensesPerBooksAmt05500
OtherExpensesSchedule/OtherExpensesScheduleGrp/RevenueAndExpensesPerBooksAmt130
OtherProfessionalFeesSchedule/OtherProfessionalFeesDetail/Amt05718
OtherProfessionalFeesSchedule/OtherProfessionalFeesDetail/CategoryTxt0Investment Management Services
OtherProfessionalFeesSchedule/OtherProfessionalFeesDetail/NetInvestmentIncomeAmt05718
ReasonableCauseExplanation/ExplanationTxt0Reasonable Cause Request for Abatement The Sky Foundation Inc. (EIN: 85-2640958) respectfully requests abatement of any penalties for late filing of Form 990-PF for taxable year ending December 31, 2020 because the delay was inadvertent, unintended, and due to reasonable causes. Treasury Regulations Section 301.6651-1(c)(1) defines reasonable cause by asking whether the taxpayer exercised ordinary business care and prudence. The Foundation exercised care and prudence in seeking a reputable firm knowledgeable about exempt organizations to prepare its Form 990-PF for tax period ending 12/31/2020. The Foundation's 2020 Form 990-PF was timely filed on November 12, 2021. The return was originally mailed to the IRS, but was returned along with a notice instructing the Foundation to submit the return electronically. The Foundation's administrator advised the Foundation to submit the return for paper filing initially because at the time the return was filed, the foundation's exempt application was still pending and the IRS does not have the capability to accept e-filed returns for exempt organizations where tax exempt status is still pending. The foundation has since received their federal tax exempt status, and the foundation's administrator is now submitting the return via e-file, and the delay in filing Form 990-PF for the taxable year ending 2020 is no fault or willful neglect of the foundation. According to the standards set forth in Rev. Proc. 92-85, we believe the Foundation's actions were reasonable and in good faith. These administrative actions were in no way an intentional disregard of the IRS rules and therefore entitled to abatement of any penalty. The organization acted in good faith in complying with the filing deadline and in rectifying the situation as soon as it was known. Therefore, we again request that no penalty be assessed for late filing.
SubstantialContributorsSch/SubstantialContributorDetail/PersonNm0Young Kenneth
SubstantialContributorsSch/SubstantialContributorDetail/PersonNm1Young Jennifer
SubstantialContributorsSch/SubstantialContributorDetail/USAddress/AddressLine1Txt0259 W 4th Street Apt 17
SubstantialContributorsSch/SubstantialContributorDetail/USAddress/AddressLine1Txt1259 W 4th Street Apt 17
SubstantialContributorsSch/SubstantialContributorDetail/USAddress/CityNm0New York
SubstantialContributorsSch/SubstantialContributorDetail/USAddress/CityNm1New York
SubstantialContributorsSch/SubstantialContributorDetail/USAddress/StateAbbreviationCd0NY
SubstantialContributorsSch/SubstantialContributorDetail/USAddress/StateAbbreviationCd1NY
SubstantialContributorsSch/SubstantialContributorDetail/USAddress/ZIPCd010014
SubstantialContributorsSch/SubstantialContributorDetail/USAddress/ZIPCd110014
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0kenneth young
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0president
ReturnHeader/BusinessOfficerGrp/PhoneNum08008391754
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-03-02
ReturnHeader/DisasterReliefTxt0new york-hurricane ida
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0The Sky Foundation Inc
ReturnHeader/Filer/BusinessNameControlTxt0SKYF
ReturnHeader/Filer/EIN0852640958
ReturnHeader/Filer/InCareOfNm0% FOUNDATION SOURCE
ReturnHeader/Filer/PhoneNum08008391754
ReturnHeader/Filer/USAddress/AddressLine1Txt0foundation source 501 silverside rd
ReturnHeader/Filer/USAddress/CityNm0wilmington
ReturnHeader/Filer/USAddress/StateAbbreviationCd0DE
ReturnHeader/Filer/USAddress/ZIPCd019809
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0FOUNDATION SOURCE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0ONE HOLLOW LN STE 212
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LAKE SUCCESS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd011042
ReturnHeader/PreparerPersonGrp/PhoneNum08008391754
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Jeffrey D Haskell
ReturnHeader/ReturnTs02022-03-09T09:37:14-06:00
ReturnHeader/ReturnTypeCd0990PF
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0kenneth
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0young
ReturnHeader/TaxPeriodBeginDt02020-07-13
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990PFDetailed filing. Detailed filing data is available for this year.

Open filing
Assets
$6,574,867
Liabilities
$1
Net assets
$6,574,867
Revenue
$6,601,115
Expenses
$26,248
Net income
$6,574,867
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$9.98$0.00$9.98$0.27$0.45$0.18
2023Detailed filing. Detailed filing data is available for this year.$10.2$0.00$10.2$0.27$0.49$0.22
2022Detailed filing. Detailed filing data is available for this year.$10.4$0.00$10.4$0.16$0.38$0.22
2021Detailed filing. Detailed filing data is available for this year.$10.7$0.06$10.6$4.25$0.22$4.03
2020Detailed filing. Detailed filing data is available for this year.$6.57$0.00$6.57$6.60$0.03$6.57