Civic Intelligence

The Silseth Foundation

990PF • Fiscal year 2020 • EIN 85-3068681

Jan 01, 2020 to Dec 31, 2020 • Filed on Dec 21, 2021

Organization Profile
Foundation Source 501 Silverside RdWilmington, DE 19809-1377

(800) 839-1754

Siviq Scores

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

Liabilities / Assets

57th percentile

0.00x

Higher debt load relative to assets than 57% of similar nonprofits.

2020 filings • <$500k nonprofits • Source year 2020

Liabilities / Revenue

57th percentile

0.00x

Higher debt load relative to revenue than 57% of similar nonprofits.

2020 filings • <$500k nonprofits • Source year 2020

Net Margin

97th percentile

98%

Higher net margin than 97% of similar nonprofits.

2020 filings • <$500k nonprofits • Source year 2020

Top Officer Pay

77th percentile

$0

Higher top officer pay than 77% of similar nonprofits.

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

2020 filings • <$500k 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 / Assets57th percentile

Assets

$326,356

No earlier filing loaded for comparison.

Net Assets

$326,356

No earlier filing loaded for comparison.

Liabilities

$1

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue57th percentileNet Margin97th percentile

Revenue

$332,856

No earlier filing loaded for comparison.

Expenses

$6,500

No earlier filing loaded for comparison.

Net Income

$326,356

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.

$8.0M$6.0M$4.0M$2.0M$0Assets 2020: $326,356Liabilities 2020: $1Net Assets 2020: $326,3562020Assets 2021: $830,965Liabilities 2021: $1Net Assets 2021: $830,9652021Assets 2022: $1,045,919Liabilities 2022: $1Net Assets 2022: $1,045,9192022Assets 2023: $6,073,534Liabilities 2023: $1Net Assets 2023: $6,073,5342023Assets 2024: $5,853,215Liabilities 2024: $0Net Assets 2024: $5,853,2152024

Highlighted filing

2020

Assets$326,356
Liabilities$1
Net Assets$326,356
Open 2020 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2020: $332,856Expenses 2020: $6,500Net Income 2020: $326,3562020Revenue 2021: $577,185Expenses 2021: $72,576Net Income 2021: $504,6092021Revenue 2022: $448,041Expenses 2022: $233,087Net Income 2022: $214,9542022Revenue 2023: $5,412,741Expenses 2023: $385,126Net Income 2023: $5,027,6152023Revenue 2024: $255,819Expenses 2024: $476,138Net Income 2024: -$220,3192024

Highlighted filing

2020

Revenue$332,856
Expenses$6,500
Net Income$326,356
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Dec 21, 2021
Return Version
2020v4.1
Compensation and Service Providers
Top Officer Pay77th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jennifer S BinversieDir, Sec-$0--
John M SilsethDir, Pres-$0--
John B SilsethDir, Treas-$0--
Karen K SilsethDir, VP-$0--
Filing and Contact Details

Filer

Filer Name
The Silseth Foundation
EIN
85-3068681
In Care Of
% Foundation Source
Phone
8008391754
Address
Foundation Source 501 Silverside Rd, Wilmington, DE 19809-1377

Signing Officer

Name
John M Silseth
Title
President
Phone
8008391754
Signed
2021-12-21
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
Raw XML Appendix287 raw XML fields

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/OfficerDirTrstKeyEmplInfoGrp/OfficerDirTrstKeyEmplGrp/PersonNm1John M Silseth
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IRS990ScheduleB/ContributorInformationGrp/ContributorNum01
IRS990ScheduleB/ContributorInformationGrp/ContributorPersonNm0Silseth John M
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine1Txt015815 Choctaw Trail
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OtherExpensesSchedule/OtherExpensesScheduleGrp/DisbursementsCharitablePrpsAmt05400
OtherExpensesSchedule/OtherExpensesScheduleGrp/DisbursementsCharitablePrpsAmt1500
OtherExpensesSchedule/OtherExpensesScheduleGrp/DisbursementsCharitablePrpsAmt2600
OtherExpensesSchedule/OtherExpensesScheduleGrp/RevenueAndExpensesPerBooksAmt05400
OtherExpensesSchedule/OtherExpensesScheduleGrp/RevenueAndExpensesPerBooksAmt1500
OtherExpensesSchedule/OtherExpensesScheduleGrp/RevenueAndExpensesPerBooksAmt2600
ReasonableCauseExplanation/ExplanationTxt0The Silseth Foundation (EIN: 85-3068681) 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 May 3, 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/PersonNm0Silseth John M
SubstantialContributorsSch/SubstantialContributorDetail/PersonNm1Silseth Karen K
SubstantialContributorsSch/SubstantialContributorDetail/USAddress/AddressLine1Txt015815 Choctaw Trail
SubstantialContributorsSch/SubstantialContributorDetail/USAddress/AddressLine1Txt115815 Choctaw Trail
SubstantialContributorsSch/SubstantialContributorDetail/USAddress/CityNm0Brookfield
SubstantialContributorsSch/SubstantialContributorDetail/USAddress/CityNm1Brookfield
SubstantialContributorsSch/SubstantialContributorDetail/USAddress/StateAbbreviationCd0WI
SubstantialContributorsSch/SubstantialContributorDetail/USAddress/StateAbbreviationCd1WI
SubstantialContributorsSch/SubstantialContributorDetail/USAddress/ZIPCd053045
SubstantialContributorsSch/SubstantialContributorDetail/USAddress/ZIPCd153045
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JOHN M SILSETH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08008391754
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-12-21
ReturnHeader/DisasterReliefTxt0NEW YORK-HURRICANE IDA
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0The Silseth Foundation
ReturnHeader/Filer/BusinessNameControlTxt0SILS
ReturnHeader/Filer/EIN0853068681
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/ZIPCd0198091377
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/ReturnTs02021-12-22T11:14:43-06:00
ReturnHeader/ReturnTypeCd0990PF
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JOHN M
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0SILSETH
ReturnHeader/TaxPeriodBeginDt02020-09-16
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
$326,356
Liabilities
$1
Net assets
$326,356
Revenue
$332,856
Expenses
$6,500
Net income
$326,356
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$5.85$0.00$5.85$0.26$0.48$0.22
2023Detailed filing. Detailed filing data is available for this year.$6.07$0.00$6.07$5.41$0.39$5.03
2022Detailed filing. Detailed filing data is available for this year.$1.05$0.00$1.05$0.45$0.23$0.21
2021Detailed filing. Detailed filing data is available for this year.$0.83$0.00$0.83$0.58$0.07$0.50
2020Detailed filing. Detailed filing data is available for this year.$0.33$0.00$0.33$0.33$0.01$0.33