Civic Intelligence

Varsobia Foundation Inc

EIN 87-2039436 • 501(c)3 • West Hills, CA

Profile

To provide housing and services to fomrerly incarcerated inviduals. In addition the organization plans to build housing for these indviduals.

7449 Studio RoadWest Hills, CA 91304

varsobiaenterpriseinc.com/varsobia-fo

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

60th percentile

0.00x

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

501(c)3 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

62nd percentile

0.00x

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

501(c)3 • <$500k nonprofits • Source year 2022

Net Margin

98th percentile

99%

Higher net margin than 98% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2022

Top Officer Pay

81st percentile

$0

Higher top officer pay than 81% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)3 • <$500k nonprofits • 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 / Assets60th percentile

Assets

$298,873

No earlier filing loaded for comparison.

Liabilities

$0

No earlier filing loaded for comparison.

Net Assets

$298,873

No earlier filing loaded for comparison.

Operations
Liabilities / Revenue62nd percentileNet Margin98th percentile

Revenue

$292,039

No earlier filing loaded for comparison.

Expenses

$1,520

No earlier filing loaded for comparison.

Net Income

$290,519

No earlier filing loaded for comparison.

Trend Graphs

Balance Sheet Trend

Asset GrowthScore unavailable

Grouped bars show assets, liabilities, and net assets across loaded filings.

$300K$200K$100K$0Assets 2022: $298,873Liabilities 2022: $0Net Assets 2022: $298,8732022

Highlighted filing

2022

Assets$298,873
Liabilities$0
Net Assets$298,873
Open 2022 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income by year, with the latest filing highlighted.

$300K$200K$100K$0Revenue 2022: $292,039Expenses 2022: $1,520Net Income 2022: $290,5192022

Highlighted filing

2022

Revenue$292,039
Expenses$1,520
Net Income$290,519
Open 2022 Filing

Filings

Most recent year

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

Open filing
Assets
$298,873
Liabilities
$0
Net assets
$298,873
Revenue
$292,039
Expenses
$1,520
Net income
$290,519
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Detailed filing. Detailed filing data is available for this year.$2.99$0.00$2.99$2.92$0.02$2.91
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
May 20, 2024
Return Version
2022v5.0
Gross Receipts
$292,039
Mission and Program Overview

Mission

To provide housing and services to fomrerly incarcerated inviduals. In addition the organization plans to build housing for these indviduals.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable-$298,825-
Cash and Non-Interest-Bearing Accounts$8,354$48▼ $8,306
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$8,354$298,873▲ $290,519
Other Assets Total-$0-
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$8,354$298,873▲ $290,519
Total Net Assets Fund Balance$8,354$298,873▲ $290,519
Total Liabilities and Net Assets / Fund Balance$8,354$298,873▲ $290,519
Compensation and Service Providers
Top Officer Pay81st percentile

Board Members and Trustees

NameTitle
Angelo VarsobiaPresident
Sandra VarsobiaSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$292,039
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$292,039
Change in Net Assets
$290,519
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,520
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
Fees for Services Accounting-$950-$950
Other Expenses-$555-$555
Fees for Services Legal$15--$15
Total Functional Expenses$15$1,505$0$1,520
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

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
No
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

Governance Explanations

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

“No review was or will be conducted.”

Form 990, Part VI, Section C, Line 19

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Varsobia Foundation Inc
EIN
87-2039436
Phone
8187966033
Address
7449 STUDIO ROAD, WEST HILLS, CA 91304

Signing Officer

Name
Angelo Varsobia
Title
President
Signed
2024-05-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Angelo Varsobia
Formed
2021
Legal Domicile
CA
Voting Board Members
2
Independent Board Members
0
Employees
0

Preparer

Firm
Fox & Stephens CPAs Inc
Address
9302 Pittsburgh Ave Ste 200, Rancho Cucamonga, CA 91730
Preparer
Matthew Holland CPA
Phone
9099806050
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt09302 Pittsburgh Ave Ste 200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Rancho Cucamonga
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd091730
ReturnHeader/PreparerPersonGrp/PhoneNum09099806050
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MATTHEW HOLLAND CPA
ReturnHeader/ReturnTs02024-05-20T13:42:28-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Angelo
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Varsobia
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

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