Civic Intelligence

Foundation X

990 • Fiscal year 2021 • EIN 87-1331226

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 14, 2022

Organization ProfileFOUNDATION-X.ORG
225 South Sixth St 1400Minneapolis, MN 55402

(612) 367-8800

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

83rd percentile

43%

Higher net margin than 83% of similar nonprofits.

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

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.

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

Balance Sheet
Liabilities / Assets56th percentile

Assets

$87,588

No earlier filing loaded for comparison.

Net Assets

$87,588

No earlier filing loaded for comparison.

Liabilities

$0

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue56th percentileNet Margin83rd percentile

Revenue

$208,885

No earlier filing loaded for comparison.

Expenses

$120,073

No earlier filing loaded for comparison.

Net Income

$88,812

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.

$150K$100K$50K$0Assets 2021: $87,588Liabilities 2021: $0Net Assets 2021: $87,5882021Assets 2022: $34,325Liabilities 2022: $0Net Assets 2022: $34,3252022Assets 2023: $14,766Liabilities 2023: $0Net Assets 2023: $14,7662023Assets 2024: $146,002Liabilities 2024: $0Net Assets 2024: $146,0022024

Highlighted filing

2021

Assets$87,588
Liabilities$0
Net Assets$87,588
Open 2021 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$600K$400K$200K$0-$200KRevenue 2021: $208,885Expenses 2021: $120,073Net Income 2021: $88,8122021Revenue 2022: -$1,717Expenses 2022: $49,981Net Income 2022: -$51,6982022Revenue 2023: $215,881Expenses 2023: $234,760Net Income 2023: -$18,8792023Revenue 2024: $436,443Expenses 2024: $305,892Net Income 2024: $130,5512024

Highlighted filing

2021

Revenue$208,885
Expenses$120,073
Net Income$88,812
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 14, 2022
Return Version
2021v4.2
Gross Receipts
$226,022
Mission and Program Overview

Mission

To achieve a greater good for all through effective philanthropy that advances long-term and sustainable community change.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$0$87,588▲ $87,588
Investments in Publicly Traded Securities-$78,661-
Savings and Temporary Cash Investments-$8,927-
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$0$87,588▲ $87,588
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$0$87,588▲ $87,588
Total Liabilities and Net Assets / Fund Balance$0$87,588▲ $87,588
Compensation and Service Providers
Top Officer Pay77th percentile

Board Members and Trustees

NameTitle
Rob NelsonPresident
Sean BaenenVice President
Todd MoserDirector
Ward ArmstrongDirector
Emily VennerstromSecretary & Exec Director
Sumit MehtaTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$207,702
Program Service Revenue
$0
Investment Income
$1,183
Other Revenue
$0
All Other Contributions
$207,702
Change in Net Assets
$88,812

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 Traded1$86,002Fair Market Value (FMV)
Total Noncash Contributions1$86,002-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$111,744
Other Expenses$8,329
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$111,744--$111,744
Fees for Services Legal-$6,732-$6,732
Fees for Services Other$1,313$167-$1,480
Office Expenses-$117-$117
Total Functional Expenses$113,057$7,016$0$120,073
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Bright Funds FoundationSan Jose, CA501(c)(3)General Purposes$25,650
Constellation FundMinneapolis, MN501(c)(3)General Purposes$25,000
The Chicago Community TrustChicago, IL501(c)(3)General Purposes$25,000
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
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

“Rob nelson, sean baenen, emily vennerstrom, sumit mahta, and todd moser are all employed by the same organization.”

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

“A copy of the completed return will be provided to all board members upon completion but after filing.”

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

“Policy is available at meetings and any potential conflicts are disclosed as they may occur.”

Form 990, Part VI, Section C, Line 19

“All documents are available to the public upon request”

Filing and Contact Details

Filer

Filer Name
Foundation X
EIN
87-1331226
Phone
6123678800
Address
225 SOUTH SIXTH ST 1400, MINNEAPOLIS, MN 55402

Signing Officer

Name
Emily Vennerstrom
Title
Executive Director
Phone
6123678800
Signed
2022-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Emily Vennerstrom
Formed
2021
Legal Domicile
Mn
Voting Board Members
6
Independent Board Members
1
Employees
0
Volunteers
0

Preparer

Firm
Private Tax Services
Address
225 SOUTH SIXTH STREET SUITE 1400, MINNEAPOLIS, MN 55402
Preparer
Sarah Rushford
Phone
6123678800
Raw XML Appendix357 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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IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY & EXEC DIR
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IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
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IRS990/LoanOutstandingInd00
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IRS990/ProgSrvcAccomActy2Grp/Desc0GRANT TO CONSTELLATION FUND FOR $25,000 TO FIGHT POVERTY IN THE TWIN CITIES BY RAISING THE LIVING STANDARDS OF INDIVIDUALS LIVING BELOW THE POVERTY LIVE IN THE SEVEN-COUNTY METROPOLITAN AREA. CONSTELLATION FUND HAS FOUR MAIN AREAS OF IMPACT HOUSING, JOBS, EDUCATION AND HEALTH.
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IRS990/ProgSrvcAccomActy3Grp/Desc0GRANT TO CHICAGO COMMUNITY TRUST FOR $25,000 FOR THE WE RISE TOGETHER FOR AN EQUITABLE AND JUST RECOVERY AS AN INTERVENTION TO HELP THOSE AREAS HIT HARDEST BY COVID-19 AND AN ACCELERATOR TO CLOSE THE RACIAL AND ETHNIC WEALTH GAP. FUNDS ACCELERATE EQUITABLE ECONOMIC RECOVERY FOR BLACK AND LATINX COMMUNITIES BY POOLING AND DISTRIBUTING PHILANTHROPIC RESOURCES TO STRATEGIES THAT WILL AT SCALE INCREASE EMPLOYMENT, STRENGTHEN SMALL BUSINESSES, AND SPUR CATALYTIC DEVELOPMENT IN UNDERINVESTED NEIGHBORHOODS.
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IRS990/ProgSrvcAccomActyOtherGrp/Desc0PROVIDE GRANTS FOR LONG-TERM SUSTAINABLE INITIATIVES AS IDENTIFIED THROUGH VARIOUS BOARD AND VOLUNTEER OPPORTUNITIES.
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2GENERAL PURPOSES
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0CONSTELLATION FUND
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1THE CHICAGO COMMUNITY TRUST
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2BRIGHT FUNDS FOUNDATION
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IRS990ScheduleI/RecipientTable/RecipientEIN1362167000
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IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt133 S STATE STREET STE 750
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt2PO BOX 53125
IRS990ScheduleI/RecipientTable/USAddress/CityNm0MINNEAPOLIS
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IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd2CA
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0FINAL REPORTS ARE REQUESTED ONE YEAR AFTER THE GRANT WAS MADE TO REPORT ON HOW THE MONEY WAS SPENT. ALSO MAINTAIN REGULAR COMMUNICATION WITH THE GRANTEES TO MAINTAIN THE RELATIONSHIP AND RECEIVE ONGOING UPDATES.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ROB NELSON, SEAN BAENEN, EMILY VENNERSTROM, SUMIT MAHTA, AND TODD MOSER ARE ALL EMPLOYED BY THE SAME ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF THE COMPLETED RETURN WILL BE PROVIDED TO ALL BOARD MEMBERS UPON COMPLETION BUT AFTER FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2POLICY IS AVAILABLE AT MEETINGS AND ANY POTENTIAL CONFLICTS ARE DISCLOSED AS THEY MAY OCCUR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
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IRS990/TerminateOperationsInd00
IRS990/TotalAssetsEOYAmt087588
IRS990/TotalAssetsGrp/BOYAmt00
IRS990/TotalAssetsGrp/EOYAmt087588
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0207702
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt07016
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0113057
IRS990/TotalFunctionalExpensesGrp/TotalAmt0120073
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt087588
IRS990/TotalOtherCompensationAmt00
IRS990/TotalOtherProgSrvcExpenseAmt037407
IRS990/TotalOtherProgSrvcGrantAmt036094
IRS990/TotalProgramServiceExpensesAmt0113057
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt01183
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0208885
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt087588
IRS990/TotReportableCompRltdOrgAmt00
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IRS990/UnrelatedBusIncmOverLimitInd00
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IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt01
IRS990/WebsiteAddressTxt0HTTPS://FOUNDATION-X.ORG/
IRS990/WhistleblowerPolicyInd00
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0EMILY VENNERSTROM
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum06123678800
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-11-14
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ReturnHeader/Filer/PhoneNum06123678800
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MINNEAPOLIS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd055402
ReturnHeader/PreparerPersonGrp/PhoneNum06123678800
ReturnHeader/PreparerPersonGrp/PreparationDt02022-11-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SARAH RUSHFORD
ReturnHeader/ReturnTs02022-11-15T14:06:26-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0EMILY
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0VENNERSTROM
ReturnHeader/TaxPeriodBeginDt02021-06-11
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$87,588
Liabilities
$0
Net assets
$87,588
Revenue
$208,885
Expenses
$120,073
Net income
$88,812
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.46$0.00$1.46$4.36$3.06$1.31
2023Detailed filing. Detailed filing data is available for this year.$0.15$0.00$0.15$2.16$2.35$0.19
2022Detailed filing. Detailed filing data is available for this year.$0.34$0.00$0.34$0.02$0.50$0.52
2021Detailed filing. Detailed filing data is available for this year.$0.88$0.00$0.88$2.09$1.20$0.89