Civic Intelligence

L40 Foundation

990 • Fiscal year 2021 • EIN 86-3316706

Jan 01, 2021 to Dec 31, 2021 • Filed on Feb 28, 2022

P O Box 212Rosemount, MN 55068

(612) 751-5221

Siviq Scores

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

Liabilities / Assets

56th percentile

0.00x

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

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

56th percentile

0.00x

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

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Net Margin

72nd percentile

28%

Higher net margin than 72% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Top Officer Pay

80th percentile

$5,000

Higher top officer pay than 80% of similar nonprofits.

Top officer pay equals 7.8% of source-year revenue.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Asset Growth

Score unavailable

No value available

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

Source year 2021

Revenue Growth

Score unavailable

No value available

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

Source year 2021

Assets

$19,713

No earlier filing loaded for comparison.

Net Assets

$19,713

No earlier filing loaded for comparison.

Liabilities

$0

No earlier filing loaded for comparison.

Revenue

$64,159

No earlier filing loaded for comparison.

Expenses

$46,295

No earlier filing loaded for comparison.

Net Income

$17,864

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$20K$15K$10K$5.0K$0Assets 2021: $19,713Liabilities 2021: $0Net Assets 2021: $19,7132021Assets 2022: $466Liabilities 2022: $0Net Assets 2022: $4662022Assets 2023: $6,503Liabilities 2023: $0Net Assets 2023: $6,5032023

Highlighted filing

2021

Assets$19,713
Liabilities$0
Net Assets$19,713

Operations Trend

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

$150K$100K$50K$0-$50KRevenue 2021: $64,159Expenses 2021: $46,295Net Income 2021: $17,8642021Revenue 2022: $51,925Expenses 2022: $101,793Net Income 2022: -$49,8682022Revenue 2023: $56,628Expenses 2023: $50,125Net Income 2023: $6,5032023

Highlighted filing

2021

Revenue$64,159
Expenses$46,295
Net Income$17,864
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Feb 28, 2022
Return Version
2021v4.1
Gross Receipts
$64,159
Mission and Program Overview

Mission

To remove socioeconomic barriers between kids and athletic achievement opportunities and development.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts-$19,713-
Total Assets$0$19,713▲ $19,713
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions-$19,713-
Total Net Assets Fund Balance$0$19,713▲ $19,713
Total Liabilities and Net Assets / Fund Balance$0$19,713▲ $19,713
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Dylan PalacioPresidentPT$5,000$5,000
Kristina Love-SecretaryPT$1,200$1,200

Board Members and Trustees

NameTitle
Johnni DijuliuVice President
Christopher PeTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$64,159
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$64,159
Change in Net Assets
$17,864
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$30,120
Salaries, Compensation, and Employee Benefits$9,618
Other Expenses$6,557
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$30,120--$30,120
Current Officers, Directors, Trustees, and Key Employees-$8,975-$8,975
Travel-$4,742-$4,742
Other Expenses-$944-$944
Payroll Taxes-$643-$643
Advertising$179--$179
Total Functional Expenses$30,299$15,996$0$46,295
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
The L40 FoundatiRosemount, MN---
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Audit committee
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
The L40 Foundation
EIN
86-3316706
Address
P O BOX 212, ROSEMOUNT, MN 55068

Signing Officer

Name
Kristina Love-keys
Title
Secretary
Phone
6127515221
Signed
2022-02-28
Discuss with paid preparer
No

Organization Details

Principal Officer
Dylan Palacio
Voting Board Members
4
Independent Board Members
4
Employees
0

Preparer

Firm
J & K Delong Services
Address
9217 17TH AVE S SUITE 202, BLOOMINGTON, MN 55425
Preparer
K Delong
Phone
9528881912
Supplemental Narrative

Additional Explanations

Expenses

All income in forms of donations are spent on non profit wrestle camps for kids.

Raw XML Appendix267 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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ReturnHeader/BuildTS02022-09-23 18:48:47Z
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