Civic Intelligence

Ims Foundation

990 • Fiscal year 2022 • EIN 86-3279821

Jul 01, 2021 to Jun 30, 2022 • Filed on Jan 29, 2023

Organization ProfileN/A
1012 W Thompson StreetPhiladelphia, PA 19122

(215) 772-7226

Siviq Scores

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

Liabilities / Assets

8th percentile

0.00x

Higher debt load relative to assets than 8% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

8th percentile

0.00x

Higher debt load relative to revenue than 8% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Net Margin

99th percentile

100%

Higher net margin than 99% of similar nonprofits.

2022 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2022

Asset Growth

Score unavailable

No value available

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

Source year 2022

Revenue Growth

Score unavailable

No value available

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

Source year 2022

Balance Sheet
Liabilities / Assets8th percentile

Assets

$8,663,872

No earlier filing loaded for comparison.

Net Assets

$8,663,362

No earlier filing loaded for comparison.

Liabilities

$510

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue8th percentileNet Margin99th percentile

Revenue

$8,736,276

No earlier filing loaded for comparison.

Expenses

$1,032

No earlier filing loaded for comparison.

Net Income

$8,735,244

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.

$60M$40M$20M$0Assets 2022: $8,663,872Liabilities 2022: $510Net Assets 2022: $8,663,3622022Assets 2023: $18,522,178Liabilities 2023: $9,528,604Net Assets 2023: $8,993,5742023Assets 2024: $33,430,323Liabilities 2024: $19,139,353Net Assets 2024: $14,290,9702024Assets 2025: $40,413,352Liabilities 2025: $24,439,566Net Assets 2025: $15,973,7862025

Highlighted filing

2022

Assets$8,663,872
Liabilities$510
Net Assets$8,663,362
Open 2022 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$10M$5.0M$0Revenue 2022: $8,736,276Expenses 2022: $1,032Net Income 2022: $8,735,2442022Revenue 2023: $1,312,069Expenses 2023: $1,007,608Net Income 2023: $304,4612023Revenue 2024: $5,087,392Expenses 2024: $6,077Net Income 2024: $5,081,3152024Revenue 2025: $1,322,883Expenses 2025: $32,953Net Income 2025: $1,289,9302025

Highlighted filing

2022

Revenue$8,736,276
Expenses$1,032
Net Income$8,735,244
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Jan 29, 2023
Return Version
2021v4.0
Gross Receipts
$8,736,276
Mission and Program Overview

Mission

To receive, manage, distribute assets for charitable purposes in support of independence mission schools, a pennsylvania corporation recognized as tax exempt under section 501(c)(3) of the code as a public charity.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable-$7,029,108-
Savings and Temporary Cash Investments-$1,460,969-
Investments in Publicly Traded Securities-$173,795-
Total Assets$0$8,663,872▲ $8,663,872
Liabilities
Accounts Payable and Accrued Expenses-$510-
Total Liabilities$0$510▲ $510
Net Assets / Fund Balance
Net Assets Without Donor Restrictions-$7,903,362-
Net Assets With Donor Restrictions-$760,000-
Total Net Assets Fund Balance$0$8,663,362▲ $8,663,362
Total Liabilities and Net Assets / Fund Balance$0$8,663,872▲ $8,663,872

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021-$50,000--$50,000
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Kenneth PhelanPresident
Michael PiotrowiczBoard Member
Stephen SmithBoard Member
Joseph T StapletonSecretary
Lauren AdamskiTreasurer
Maris OggVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$8,735,490
Program Service Revenue
$0
Investment Income
$786
Other Revenue
$0
All Other Contributions
$8,735,490
Change in Net Assets
$8,735,244

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded3$524,653Fair Market Value (FMV)
Total Noncash Contributions3$524,653-

Audited Revenue Reconciliation

Revenue per Audited Statements
$8,736,276
Revenue Not Reported on Form 990
$-71,882
Total Revenue per Audited Statements
$8,664,394
Total Revenue per Form 990
$8,736,276
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,032
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-$522-$522
Fees for Services Legal-$510-$510
Total Functional Expenses$0$1,032$0$1,032

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,032
Total Expenses per Audited Statements$1,032
Total Expenses per Form 990$1,032
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
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, Page 6, Part VI, Line 11B

“A draft of the 990 is provided to all board members prior to filing.”

Form 990, Page 6, Part VI, Line 12C

“The foundation requires officers and directors to annually disclose any conflicts.”

Form 990, Page 6, Part VI, Line 19

“Governing documents, conflict of interest policy and financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
Ims Foundation
EIN
86-3279821
Address
1012 W THOMPSON STREET, PHILADELPHIA, PA 19122

Signing Officer

Name
Kenneth Phelan
Title
President
Signed
2023-01-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kenneth Phelan
Formed
2021
Legal Domicile
Pa
Voting Board Members
5
Independent Board Members
2
Employees
0
Volunteers
6

Preparer

Firm
O'CONNELL & COMPANY LLC
Address
165 TOWNSHIP LINE RD STE 1100, JENKINTOWN, PA 19046
Preparer
Dorothy V Mohan
Phone
2158874425
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

“Scholarships for independence mission schools”

Schedule D, Page 3, Part X

“The foundation is exempt from income tax under irc section 501(c)(3), though it is subject to tax on income unrelated to its exempt purpose, unless that income is otherwise excluded by the code. The foundation has processes presently in place to ensure the maintenance of its tax-exempt status; to identify and report unrelated income; to determine its filing and tax obligations; and to identify and evaluate other matters that may be considered tax positions. The foundation has determined that there are no material uncertain tax positions that require recognition or disclosure in the financial statements.”

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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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE FOUNDATION IS EXEMPT FROM INCOME TAX UNDER IRC SECTION 501(C)(3), THOUGH IT IS SUBJECT TO TAX ON INCOME UNRELATED TO ITS EXEMPT PURPOSE, UNLESS THAT INCOME IS OTHERWISE EXCLUDED BY THE CODE. THE FOUNDATION HAS PROCESSES PRESENTLY IN PLACE TO ENSURE THE MAINTENANCE OF ITS TAX-EXEMPT STATUS; TO IDENTIFY AND REPORT UNRELATED INCOME; TO DETERMINE ITS FILING AND TAX OBLIGATIONS; AND TO IDENTIFY AND EVALUATE OTHER MATTERS THAT MAY BE CONSIDERED TAX POSITIONS. THE FOUNDATION HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS.
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt01032
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt01032
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IRS990/TotalRevenueGrp/ExclusionAmt0786
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt08736276
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt08663872
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
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IRS990/USAddress/CityNm0PHILADELPHIA
IRS990/USAddress/StateAbbreviationCd0PA
IRS990/USAddress/ZIPCd019122
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt02
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02023-03-07 01:45:13Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0KENNETH PHELAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-01-29
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0IMS FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0IMSF
ReturnHeader/Filer/EIN0863279821
ReturnHeader/Filer/USAddress/AddressLine1Txt01012 W THOMPSON STREET
ReturnHeader/Filer/USAddress/CityNm0PHILADELPHIA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0PA
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0O'CONNELL & COMPANY LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0165 TOWNSHIP LINE RD STE 1100
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0JENKINTOWN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd019046
ReturnHeader/PreparerPersonGrp/PhoneNum02158874425
ReturnHeader/PreparerPersonGrp/PreparationDt02023-02-01
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DOROTHY V MOHAN
ReturnHeader/ReturnTs02023-02-01T13:01:14-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0KENNETH
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0PHELAN
ReturnHeader/TaxPeriodBeginDt02021-07-01
ReturnHeader/TaxPeriodEndDt02022-06-30
ReturnHeader/TaxYr02021

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Filings

Displayed year

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

Open filing
Assets
$8,663,872
Liabilities
$510
Net assets
$8,663,362
Revenue
$8,736,276
Expenses
$1,032
Net income
$8,735,244
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$40.4$24.4$16.0$1.32$0.03$1.29
2024Detailed filing. Detailed filing data is available for this year.$33.4$19.1$14.3$5.09$0.01$5.08
2023Detailed filing. Detailed filing data is available for this year.$18.5$9.53$8.99$1.31$1.01$0.30
2022Detailed filing. Detailed filing data is available for this year.$8.66$0.00$8.66$8.74$0.00$8.74