Civic Intelligence

Arctic Circle Foundation Inc Us C/O Krista Amason

990 • Fiscal year 2023 • EIN 85-3363104

Jan 01, 2023 to Dec 31, 2023 • Filed on May 06, 2024

Organization ProfileSEE SCHEDULE O
1110 Guale Point SEDarien, GA 31305-4910

(703) 855-3608

Siviq Scores

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

Liabilities / Assets

32nd percentile

0.00x

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

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

32nd percentile

0.00x

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

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Net Margin

4th percentile

-82%

Higher net margin than 4% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

60th percentile

$25,000

Higher top officer pay than 60% of similar nonprofits.

Top officer pay equals 12.9% of source-year revenue.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Asset Growth

10th percentile

-21%

Faster asset growth than 10% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

2nd percentile

-79%

Faster revenue growth than 2% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets32nd percentile

Assets

Down

$590,217

Down $158,677 (-21%) from 2022

Net Assets

Down

$590,217

Down $158,677 (-21%) from 2022

Liabilities

Flat

$0

Flat from 2022

Revenue And Expenses
Liabilities / Revenue32nd percentileNet Margin4th percentile

Revenue

Down

$193,656

Down $726,344 (-79%) from 2022

Expenses

Down

$352,333

Down $90,592 (-20%) from 2022

Net Income

Down

-$158,677

Down $635,752 (-133%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth10th percentile

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

$800K$600K$400K$200K$0Assets 2021: $272,319Liabilities 2021: $500Net Assets 2021: $271,8192021Assets 2022: $748,894Liabilities 2022: $0Net Assets 2022: $748,8942022Assets 2023: $590,217Liabilities 2023: $0Net Assets 2023: $590,2172023Assets 2024: $390,418Liabilities 2024: $0Net Assets 2024: $390,4182024

Highlighted filing

2023

Assets$590,217
Liabilities$0
Net Assets$590,217
Open 2023 Filing

Operations Trend

Revenue Growth2nd percentile

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

$1.0M$500K$0-$500KRevenue 2021: $450,000Expenses 2021: $178,181Net Income 2021: $271,8192021Revenue 2022: $920,000Expenses 2022: $442,925Net Income 2022: $477,0752022Revenue 2023: $193,656Expenses 2023: $352,333Net Income 2023: -$158,6772023Revenue 2024: $125,000Expenses 2024: $324,799Net Income 2024: -$199,7992024

Highlighted filing

2023

Revenue$193,656
Expenses$352,333
Net Income-$158,677
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 6, 2024
Return Version
2023v5.0
Gross Receipts
$193,656
Mission and Program Overview

Mission

To promote and support the arctic circle assembly and its international dialogue and cooperation regarding the future of the arctic and to contribute to the development and understanding of the polar regions, including scientific, cultural, artistic, environmental, educational and economic development for the people of the arctic and the sustainable development of the northern regions.

Promote & support international dialogue & collaboration regarding the future of the arctic

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$748,894$563,389▼ $185,505
Pledges and Grants Receivable-$26,828-
Total Assets$748,894$590,217▼ $158,677
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets With Donor Restrictions$600,000$0▼ $600,000
Net Assets Without Donor Restrictions$148,894$590,217▲ $441,323
Total Net Assets Fund Balance$748,894$590,217▼ $158,677
Total Liabilities and Net Assets / Fund Balance$748,894$590,217▼ $158,677
Compensation and Service Providers
Top Officer Pay60th percentile

Employees

NameTitleBaseTotal
Krista AmasonPresident/director$25,000$25,000

Board Members and Trustees

NameTitle
Olafur GrimssonDirector
Warren AmasonDirector
Peter SeligmannSecretary/director
Frederik PaulsenTreasurer/director
Revenue and Support

Revenue Composition

Contributions and Grants
$193,656
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$193,656
Change in Net Assets
$-158,677
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$320,000
Salaries, Compensation, and Employee Benefits$25,000
Total Fundraising Expense$12,500
Other Expenses$7,333
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Foreign Grants$320,000--$320,000
Current Officers, Directors, Trustees, and Key Employees$6,250$6,250$12,500$25,000
Fees for Services Accounting-$6,025-$6,025
Office Expenses-$753-$753
Other Expenses-$555-$555
Total Functional Expenses$326,250$13,583$12,500$352,333
International Activity

International Summary

Offices
0
Employees
0
Spending
$320,000

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
Europe (including Iceland & Greenland) - Albania, Andorra, Austria, BelgiumGrants to Recipients Located in RegionN/a00$320,000
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Krista AmasonFamily Member of Warren Amason, DirectorIndependent Contractor ArrangementNo$25,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
Yes
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

“Krista amason & warren amason - family relationship”

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

“The organization does not have any committees with authority to act on behalf of the governing body. Since there are only 5 directors, the full governing body discuss and vote on all matters.”

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

“The draft 990 is reviewed by the organization's president and attorney who discuss any questions with the tax preparer before the 990 is filed.”

Form 990, Part VI, Section B, Line 12C

“The directors are required to sign a statement annually confirming that they have received, read and understand the conflict of interest policy and that they agree to comply with the policy.”

Form 990, Part VI, Section C, Line 19

“The organization's governing documents, conflict of interest policy & internally-prepared financial statements are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Arctic Circle Foundation Inc US
EIN
85-3363104
Phone
7038553608
Address
1110 GUALE POINT SE, DARIEN, GA 31305-4910

Signing Officer

Name
Krista Amason
Title
President
Phone
7038553608
Signed
2024-05-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Krista Amason
Formed
2020
Legal Domicile
De
Voting Board Members
5
Independent Board Members
3
Employees
0
Volunteers
4

Preparer

Firm
Edelstein & Company Llp
Address
160 FEDERAL STREET 9TH FLOOR, BOSTON, MA 02110
Preparer
Eugene Borgonzi
Phone
6172276161
Supplemental Narrative

Additional Explanations

Form 990, Item J - Website

“Https://www.arcticcircle.org/the-american-sister-organization-of-the-arc tic-circle”

Raw XML Appendix359 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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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE ORGANIZATION WAS ORGANIZED ON APRIL 23,2020. THEREFORE, THE 2020 TAX YEAR WAS FOR THE SHORT PERIOD APRIL 23, 2020 TO DECEMBER 31, 2020.
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IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION MAKES GRANTS TO FOREIGN GRANTEES SOLELY FOR CHARITABLE, EDUCATIONAL, AND SCIENTIFIC PURPOSES. PRE-GRANT INQUIRIES ARE CONDUCTED (SCOPE WILL VARY FROM CASE TO CASE DEPENDING ON THE SIZE AND PURPOSE OF THE GRANT, THE PERIOD OVER WHICH IT IS TO BE PAID & THE PRIOR EXPERIENCE WHICH THE ORGANIZATION HAS HAD WITH RESPECT TO THE GRANTEE), AND THE ORGANIZATION REQUIRES NARRATIVE AND FINANCIAL REPORTS FROM ITS GRANTEES TO CONFIRM THAT GRANT FUNDS WERE USED SOLEY FOR THEIR INTENDED PURPOSES. THE ORGANIZATION MAY ALSO CONDUCT SITE VISITS, WHERE APPROPRIATE.
IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt1ACCRUAL METHOD OF ACCOUNTING IS USED TO ACCOUNT FOR EXPENDITURES
IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt2ACCRUAL METHOD OF ACCOUNTING IS USED TO ACCOUNT FOR GRANTS.
IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION TRANSFERRED MONEY TO A FOREIGN CORPORATION IN THE FORM OF GRANTS WHICH ARE DISCLOSED IN PART II OF SCHEDULE F. A FORM 926 IS NOT REQUIRED TO BE FILED BECAUSE THE ORGANIZATION DID NOT RECEIVE AN OWNERSHIP INTEREST IN THE FOREIGN CORPORATION.
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc1PART I, LINE 3:
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc2PART II, LINE 1 ACCOUNTING METHOD:
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, SCHEDULE F, PART IV, LINE 1
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION DOES NOT HAVE ANY COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. SINCE THERE ARE ONLY 5 DIRECTORS, THE FULL GOVERNING BODY DISCUSS AND VOTE ON ALL MATTERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE DRAFT 990 IS REVIEWED BY THE ORGANIZATION'S PRESIDENT AND ATTORNEY WHO DISCUSS ANY QUESTIONS WITH THE TAX PREPARER BEFORE THE 990 IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE DIRECTORS ARE REQUIRED TO SIGN A STATEMENT ANNUALLY CONFIRMING THAT THEY HAVE RECEIVED, READ AND UNDERSTAND THE CONFLICT OF INTEREST POLICY AND THAT THEY AGREE TO COMPLY WITH THE POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY & INTERNALLY-PREPARED FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5HTTPS://WWW.ARCTICCIRCLE.ORG/THE-AMERICAN-SISTER-ORGANIZATION-OF-THE-ARC TIC-CIRCLE
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, ITEM J - WEBSITE
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ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-06
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ReturnHeader/ReturnTs02024-05-06T10:58:39-05:00
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ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$590,217
Liabilities
$0
Net assets
$590,217
Revenue
$193,656
Expenses
$352,333
Net income
-$158,677
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.90$0.00$3.90$1.25$3.25$2.00
2023Detailed filing. Detailed filing data is available for this year.$5.90$0.00$5.90$1.94$3.52$1.59
2022Detailed filing. Detailed filing data is available for this year.$7.49$0.00$7.49$9.20$4.43$4.77
2021Detailed filing. Detailed filing data is available for this year.$2.72$0.01$2.72$4.50$1.78$2.72