Civic Intelligence

Sherman Phoenix Foundation Inc.

990 • Fiscal year 2022 • EIN 85-4125394

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 15, 2023

Organization ProfileWWW.SHERMANPHOENIX.COM/FOUNDATION

View Organization Page

3536 W Fond Du Lac AvenueMilwaukee, WI 53216

(262) 228-6021

Siviq Scores

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

Liabilities / Assets

56th percentile

0.03x

Higher debt load relative to assets than 56% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

47th percentile

0.01x

Higher debt load relative to revenue than 47% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Net Margin

85th percentile

39%

Higher net margin than 85% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

87th percentile

$95,608

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 14.3% of source-year revenue.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Asset Growth

99th percentile

824%

Faster asset growth than 99% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Revenue Growth

95th percentile

243%

Faster revenue growth than 95% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets56th percentile

Assets

Up

$291,010

Up $259,509 (+824%) from 2021

Net Assets

Up

$281,006

Up $257,517 (+1096%) from 2021

Liabilities

Up

$10,004

Up $1,992 (+25%) from 2021

Revenue And Expenses
Liabilities / Revenue47th percentileNet Margin85th percentile

Revenue

Up

$668,697

Up $473,850 (+243%) from 2021

Expenses

Up

$411,180

Up $239,822 (+140%) from 2021

Net Income

Up

$257,517

Up $234,028 (+996%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth99th percentile

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

$1.0M$500K$0-$500KAssets 2021: $31,501Liabilities 2021: $8,012Net Assets 2021: $23,4892021Assets 2022: $291,010Liabilities 2022: $10,004Net Assets 2022: $281,0062022Assets 2023: $852,058Liabilities 2023: $849,235Net Assets 2023: $2,8232023Assets 2024: $620,376Liabilities 2024: $872,598Net Assets 2024: -$252,2222024

Highlighted filing

2022

Assets$291,010
Liabilities$10,004
Net Assets$281,006
Open 2022 Filing

Operations Trend

Revenue Growth95th percentile

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

$2.0M$1.0M$0-$1.0MRevenue 2021: $194,847Expenses 2021: $171,358Net Income 2021: $23,4892021Revenue 2022: $668,697Expenses 2022: $411,180Net Income 2022: $257,5172022Revenue 2023: $1,248,019Expenses 2023: $1,537,902Net Income 2023: -$289,8832023Revenue 2024: $865,144Expenses 2024: $1,331,691Net Income 2024: -$466,5472024

Highlighted filing

2022

Revenue$668,697
Expenses$411,180
Net Income$257,517
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 15, 2023
Return Version
2022v5.0
Gross Receipts
$668,697
Mission and Program Overview

Mission

The Sherman Phoenix Foundation builds inclusive and just economies for communities of color through strategies that support entrepreneurship, wellness, workplace inclusion, and economic empowerment.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$6,000$183,167▲ $177,167
Cash and Non-Interest-Bearing Accounts$25,501$105,911▲ $80,410
Savings and Temporary Cash Investments-$1,415-
Prepaid Expenses and Deferred Charges-$517-
Total Assets$31,501$291,010▲ $259,509
Liabilities
Accounts Payable and Accrued Expenses$8,012$10,004▲ $1,992
Total Liabilities$8,012$10,004▲ $1,992
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$6,799$264,316▲ $257,517
Net Assets With Donor Restrictions$16,690$16,690→ $0
Total Net Assets Fund Balance$23,489$281,006▲ $257,517
Total Liabilities and Net Assets / Fund Balance$31,501$291,010▲ $259,509
Compensation and Service Providers
Top Officer Pay87th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Stacia ThompsonExecutive DirectorFT$95,608$95,608

Board Members and Trustees

NameTitle
Ron AdamsPresident
Kaycee FrostVice President
Adija Greer SmithDirector
Angela AdamsDirector
Anthony CobbDirector
Danielle BlyDirector
Joanne SabirDirector
Jocelyn BurksDirector
Jon FrostDirector
Leana NakielskiDirector
Maanaan SabirDirector
Ramel BlyDirector
Reginald AdamsDirector
Kenge AdamsSecretary
Oren BurksTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$644,685
Program Service Revenue
$23,931
Investment Income
$81
Other Revenue
$0
All Other Contributions
$469,018
Change in Net Assets
$257,517
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$293,869
Salaries, Compensation, and Employee Benefits$110,001
Total Fundraising Expense$80,209
Grants and Similar Amounts Paid$7,310
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$149,930$6,110$18,331$174,371
Current Officers, Directors, Trustees, and Key Employees$57,365$9,561$28,682$95,608
Fees for Services Accounting-$22,500-$22,500
Information Technology$12,092$2,015$6,046$20,153
Advertising$11,260$1,877$5,630$18,767
Office Expenses$8,483$1,414$4,241$14,138
Occupancy$6,160$1,027$3,081$10,268
Payroll Taxes$5,244$874$2,622$8,740
Grants to Domestic Orgs$7,310--$7,310
Travel$2,208$368$1,104$3,680
Other Employee Benefits$1,980$330$990$3,300
Other Salaries and Wages$1,412$235$706$2,353
Other Expenses$840$140$419$1,399
Insurance$504$84$253$841
Fees for Services Legal-$743-$743
All Other Expenses$360$60$182$602
Total Functional Expenses$280,992$49,979$80,209$411,180
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
WHO'S COOKINGMilwaukee, WI-Entrepreneurship and Small Business Success$3,310
Cloud 9 Massage TherapyMilwaukee, WI-Entrepreneurship and Small Business Success$2,000
Valencia Lynn Beauty BarMilwaukee, WI-Entrepreneurship and Small Business Success$2,000
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
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

“Married couples: ron and angela adams, nkenge and reginald adams, danielle and ramel bly, oren and jocelyn burks, kaycee and jon frost, joanne and manaan sabir”

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

“Reviewed at board meeting”

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

“The organization regularly and consistently monitors and enforces compliance with the conflict of interest policy.”

Form 990, Part VI, Section C, Line 19

“UPON REQUEST”

Filing and Contact Details

Filer

Filer Name
Sherman Phoenix Foundation
EIN
85-4125394
Phone
2622286021
Address
3536 W FOND DU LAC AVENUE, MILWAUKEE, WI 53216

Signing Officer

Name
Ron Adams
Title
President
Phone
2622286021
Signed
2023-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ron Adams
Formed
2020
Legal Domicile
Wi
Voting Board Members
15
Independent Board Members
15
Employees
1
Volunteers
0

Preparer

Firm
Ritz Holman Llp
Address
330 E KILBOURN AVE SUITE 550, MILWAUKEE, WI 53202
Preparer
Katy L Sommer
Phone
4142711451
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 2

“We received funding from the diverse business assitance grant to offer entreprenurial services to greater milwaukee”

Form 990, Part IX, Line 11G

“Tenant engagement & support: program service expenses 20,500. Management and general expenses 0. Fundraising expenses 0. Total expenses 20,500. Musicians & artists: program service expenses 11,852. Management and general expenses 0. Fundraising expenses 0. Total expenses 11,852. Health and welness services: program service expenses 14,545. Management and general expenses 0. Fundraising expenses 0. Total expenses 14,545. Marketing and social media services: program service expenses 14,877. Management and general expenses 0. Fundraising expenses 0. Total expenses 14,877. Onsite building support: program service expenses 38,540. Management and general expenses 0. Fundraising expenses 0. Total expenses 38,540. Other professional services: program service expenses 36,664. Management and general expenses 6,110. Fundraising expenses 18,331. Total expenses 61,105. Events management: program service expenses 12,952. Management and general expenses 0. Fundraising expenses 0. Total expenses 12,952.”

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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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IRS990/OccupancyGrp/TotalAmt010268
IRS990/OfficeExpensesGrp/FundraisingAmt04241
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt01414
IRS990/OfficeExpensesGrp/ProgramServicesAmt08483
IRS990/OfficeExpensesGrp/TotalAmt014138
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt0990
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt0330
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt01980
IRS990/OtherEmployeeBenefitsGrp/TotalAmt03300
IRS990/OtherExpensesGrp/Desc0EVENT & PROGRAM SUPPLIE
IRS990/OtherExpensesGrp/Desc1DUES & SUBSCRIPTIONS
IRS990/OtherExpensesGrp/Desc2MERCHANDISE EXPENSES
IRS990/OtherExpensesGrp/Desc3BANK & CREDIT CARD PROC
IRS990/OtherExpensesGrp/FundraisingAmt06556
IRS990/OtherExpensesGrp/FundraisingAmt1692
IRS990/OtherExpensesGrp/FundraisingAmt2674
IRS990/OtherExpensesGrp/FundraisingAmt3419
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt02185
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1231
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt2225
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt3140
IRS990/OtherExpensesGrp/ProgramServicesAmt013112
IRS990/OtherExpensesGrp/ProgramServicesAmt11384
IRS990/OtherExpensesGrp/ProgramServicesAmt21348
IRS990/OtherExpensesGrp/ProgramServicesAmt3840
IRS990/OtherExpensesGrp/TotalAmt021853
IRS990/OtherExpensesGrp/TotalAmt12307
IRS990/OtherExpensesGrp/TotalAmt22247
IRS990/OtherExpensesGrp/TotalAmt31399
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt0706
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0235
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt01412
IRS990/OtherSalariesAndWagesGrp/TotalAmt02353
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/FundraisingAmt02622
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt0874
IRS990/PayrollTaxesGrp/ProgramServicesAmt05244
IRS990/PayrollTaxesGrp/TotalAmt08740
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0517
IRS990/PrincipalOfficerNm0RON ADAMS
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0532000
IRS990/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/BusinessCd2900099
IRS990/ProgramServiceRevenueGrp/Desc0SPACE RENTALS
IRS990/ProgramServiceRevenueGrp/Desc1MERCHANDISE SALES
IRS990/ProgramServiceRevenueGrp/Desc2PROGRAM FEES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt021084
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt12421
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2426
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt021084
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt12421
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2426
IRS990/ProgSrvcAccomActy2Grp/Desc0CULTURAL AND ECONOMIC VIBRANCY
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt068420
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt021084
IRS990/ProgSrvcAccomActy3Grp/Desc0ECONOMIC EQUITY AND EMPOWERMENT
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt068420
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt02421
IRS990/ProgSrvcAccomActyOtherGrp/Desc0OTHER PROGRAM SERVICES
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt068422
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0189985
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt035500
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt0135858
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt04862
IRS990/PYRevenuesLessExpensesAmt023489
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0171358
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0194847
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0257517
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0426
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01415
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0644685
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt09958
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0654643
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt081
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt081
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt028791
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.58500
IRS990ScheduleA/PublicSupportTotal170Amt0383019
IRS990ScheduleA/SubstantialContributorsTotAmt0271624
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0644685
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt09958
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0654643
IRS990ScheduleA/TotalSupportAmt0654724
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt02000
IRS990ScheduleI/RecipientTable/CashGrantAmt12000
IRS990ScheduleI/RecipientTable/CashGrantAmt23310
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt10
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt20
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0ENTREPRENEURSHIP AND SMALL BUSINESS SUCCESS
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1ENTREPRENEURSHIP AND SMALL BUSINESS SUCCESS
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2ENTREPRENEURSHIP AND SMALL BUSINESS SUCCESS
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0VALENCIA LYNN BEAUTY BAR
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1CLOUD 9 MASSAGE THERAPY
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2WHO'S COOKING
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt03536 W FOND DU LAC AVE
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt13536 W FOND DU LAC AVE
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt23536 W FOND DU LAC AVE
IRS990ScheduleI/RecipientTable/USAddress/CityNm0MILWAUKEE
IRS990ScheduleI/RecipientTable/USAddress/CityNm1MILWAUKEE
IRS990ScheduleI/RecipientTable/USAddress/CityNm2MILWAUKEE
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0WI
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1WI
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd2WI

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Filings

Displayed year

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

Open filing
Assets
$291,010
Liabilities
$10,004
Net assets
$281,006
Revenue
$668,697
Expenses
$411,180
Net income
$257,517
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.62$0.87$0.25$0.87$1.33$0.47
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.85$0.85$0.00$1.25$1.54$0.29
2022Detailed filing. Detailed filing data is available for this year.$0.29$0.01$0.28$0.67$0.41$0.26
2021Detailed filing. Detailed filing data is available for this year.$0.03$0.01$0.02$0.19$0.17$0.02
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2022 filings • 501(c)3 • $500k-$1M nonprofits