Civic Intelligence

Third Act Initiative Inc

990 • Fiscal year 2023 • EIN 88-0776955

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 14, 2024

Organization ProfileTHIRDACT.ORG
169 Madison Ave 2880New York, NY 10016

(310) 929-0276

Siviq Scores

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

Liabilities / Assets

61st percentile

0.11x

Higher debt load relative to assets than 61% of similar nonprofits.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

38th percentile

0.02x

Higher debt load relative to revenue than 38% of similar nonprofits.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2023

Net Margin

41st percentile

4.4%

Higher net margin than 41% of similar nonprofits.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

85th percentile

$133,967

Higher top officer pay than 85% of similar nonprofits.

Top officer pay equals 6.7% of source-year revenue.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2023

Asset Growth

93rd percentile

73%

Faster asset growth than 93% of similar nonprofits.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

93rd percentile

124%

Faster revenue growth than 93% of similar nonprofits.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets61st percentile

Assets

Up

$285,964

Up $120,390 (+73%) from 2022

Net Assets

Up

$254,798

Up $89,224 (+54%) from 2022

Liabilities

Up

$31,166

Up $31,166 from 2022

Revenue And Expenses
Liabilities / Revenue38th percentileNet Margin41st percentile

Revenue

Up

$2,008,973

Up $1,112,816 (+124%) from 2022

Expenses

Up

$1,919,749

Up $1,189,166 (+163%) from 2022

Net Income

Down

$89,224

Down $76,350 (-46%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth93rd percentile

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

$300K$200K$100K$0Assets 2022: $165,574Liabilities 2022: $0Net Assets 2022: $165,5742022Assets 2023: $285,964Liabilities 2023: $31,166Net Assets 2023: $254,7982023Assets 2024: $282,291Liabilities 2024: $22,030Net Assets 2024: $260,2612024

Highlighted filing

2023

Assets$285,964
Liabilities$31,166
Net Assets$254,798
Open 2023 Filing

Operations Trend

Revenue Growth93rd percentile

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

$3.0M$2.0M$1.0M$0Revenue 2022: $896,157Expenses 2022: $730,583Net Income 2022: $165,5742022Revenue 2023: $2,008,973Expenses 2023: $1,919,749Net Income 2023: $89,2242023Revenue 2024: $1,559,555Expenses 2024: $1,530,849Net Income 2024: $28,7062024

Highlighted filing

2023

Revenue$2,008,973
Expenses$1,919,749
Net Income$89,224
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 14, 2024
Return Version
2023v5.1
Gross Receipts
$2,008,973
Mission and Program Overview

Mission

To build a community of americans over the age of sixty determined to change the world for the better.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$165,574$285,964▲ $120,390
Total Assets$165,574$285,964▲ $120,390
Liabilities
Accounts Payable and Accrued Expenses-$31,166-
Total Liabilities$0$31,166▲ $31,166
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$165,574$254,798▲ $89,224
Total Net Assets Fund Balance$165,574$254,798▲ $89,224
Total Liabilities and Net Assets / Fund Balance$165,574$285,964▲ $120,390
Compensation and Service Providers
Top Officer Pay85th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kafia AhmedChief Executive OfficerFT$120,938$13,029$133,967
Vanessa ArcaraPresidentFT$120,938$250$121,188

Board Members and Trustees

NameTitle
Akaya WindwoodChair
Bill MckibbenSecretary
Heather BoothTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Simone SalvoEvent Services549 WEST 159TH STREET 3, New York, NY 10032$133,375
Revenue and Support

Revenue Composition

Contributions and Grants
$2,008,973
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$2,008,973
Change in Net Assets
$89,224

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,008,973
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$2,008,973
Total Revenue per Form 990
$2,008,973
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$990,139
Other Expenses$929,610
Total Fundraising Expense$114,816
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$389,384$146,724$28,216$564,324
Fees for Services Other$257,256$100,623$50,070$407,949
Advertising$246,149$3,830$7,649$257,628
Current Officers, Directors, Trustees, and Key Employees$176,057$66,340$12,758$255,155
Information Technology$44,741$53,915$6,636$105,292
Other Employee Benefits$71,741$27,033$5,199$103,973
Payroll Taxes$46,014$17,339$3,334$66,687
Travel$50,542$6,321$531$57,394
Fees for Services Legal-$18,832-$18,832
Insurance-$12,685-$12,685
Office Expenses$1,125$5,100$21$6,246
Other Expenses$2,805$70$15$2,890
Occupancy$868$639-$1,507
Total Functional Expenses$1,319,653$485,280$114,816$1,919,749

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,919,749
Total Expenses per Audited Statements$1,919,749
Total Expenses per Form 990$1,919,749
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
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
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
Yes
Other officer compensation reviewed
Yes
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 8B

“The organization does not have any committees with authority to act on behalf of the governing body.”

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

“The form 990 is reviewed and approved by the authorized officials prior to filing with the irs.”

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

“Directors and key employees must disclose potential conflicts to the board of directors, including by signing an annual disclosure statement. When a potential conflict arises, the board of directors determines if there is a conflict, and proceeds accordingly pursuant to the conflict of interest policy to ensure that the corporation operates in a manner consistent with organizational purposes.”

Form 990, Part VI, Section B, Line 15

“The board of directors or compensation committee obtains and relies on appropriate data as to comparability prior to approving the terms of compensation. Appropriate data may include the following: 1.compensation levels paid by similarly situated organizations, both taxable and tax exempt, for functionally comparable positions. "similarly situated organizations are those of a similar size, purpose, and with similar resources. 2. The availability of similar services in the geographic area of this organization. 3. Current compensation surveys compiled by independent firms.”

Form 990, Part VI, Section C, Line 18

“The organization's governing documents, conflict of interest policy, form 990 and financial statements are available upon request.”

Form 990, Part VI, Section C, Line 19

“The organization's governing documents, conflict of interest policy, and financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
Third Act Initiative Inc
EIN
88-0776955
Phone
3109290276
Address
169 MADISON AVE 2880, NEW YORK, NY 10016

Signing Officer

Name
Vanessa Arcara
Title
President
Phone
3109290276
Signed
2024-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Vanessa Arcara
Formed
2022
Legal Domicile
Ny
Voting Board Members
3
Independent Board Members
3
Employees
12
Volunteers
11

Preparer

Firm
Skody Scot & Co Cpas Pc
Address
520 EIGHTH AVE SUITE 2200, NEW YORK, NY 10018
Preparer
Laurence Scot Mba CPA
Phone
2129671100
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Consultants and contractors: program service expenses 257,256. Management and general expenses 100,623. Fundraising expenses 50,070. Total expenses 407,949.”

FORM 990. PART XII, LINE 2C:

“The process has not changed from prior year.”

Raw XML Appendix365 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION DOES NOT HAVE ANY COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS REVIEWED AND APPROVED BY THE AUTHORIZED OFFICIALS PRIOR TO FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DIRECTORS AND KEY EMPLOYEES MUST DISCLOSE POTENTIAL CONFLICTS TO THE BOARD OF DIRECTORS, INCLUDING BY SIGNING AN ANNUAL DISCLOSURE STATEMENT. WHEN A POTENTIAL CONFLICT ARISES, THE BOARD OF DIRECTORS DETERMINES IF THERE IS A CONFLICT, AND PROCEEDS ACCORDINGLY PURSUANT TO THE CONFLICT OF INTEREST POLICY TO ENSURE THAT THE CORPORATION OPERATES IN A MANNER CONSISTENT WITH ORGANIZATIONAL PURPOSES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD OF DIRECTORS OR COMPENSATION COMMITTEE OBTAINS AND RELIES ON APPROPRIATE DATA AS TO COMPARABILITY PRIOR TO APPROVING THE TERMS OF COMPENSATION. APPROPRIATE DATA MAY INCLUDE THE FOLLOWING: 1.COMPENSATION LEVELS PAID BY SIMILARLY SITUATED ORGANIZATIONS, BOTH TAXABLE AND TAX EXEMPT, FOR FUNCTIONALLY COMPARABLE POSITIONS. "SIMILARLY SITUATED ORGANIZATIONS ARE THOSE OF A SIMILAR SIZE, PURPOSE, AND WITH SIMILAR RESOURCES. 2. THE AVAILABILITY OF SIMILAR SERVICES IN THE GEOGRAPHIC AREA OF THIS ORGANIZATION. 3. CURRENT COMPENSATION SURVEYS COMPILED BY INDEPENDENT FIRMS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FORM 990 AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6CONSULTANTS AND CONTRACTORS: PROGRAM SERVICE EXPENSES 257,256. MANAGEMENT AND GENERAL EXPENSES 100,623. FUNDRAISING EXPENSES 50,070. TOTAL EXPENSES 407,949.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE PROCESS HAS NOT CHANGED FROM PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
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 B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990. PART XII, LINE 2C:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0165574
IRS990/TotalAssetsEOYAmt0285964
IRS990/TotalAssetsGrp/BOYAmt0165574
IRS990/TotalAssetsGrp/EOYAmt0285964
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt02008973
IRS990/TotalEmployeeCnt012
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt0114816
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0485280
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01319653
IRS990/TotalFunctionalExpensesGrp/TotalAmt01919749
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt031166
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt031166
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0165574
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0254798
IRS990/TotalOtherCompensationAmt013279
IRS990/TotalProgramServiceExpensesAmt01319653
IRS990/TotalReportableCompFromOrgAmt0241876
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02008973
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt011
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0165574
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0285964
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/FundraisingAmt0531
IRS990/TravelGrp/ManagementAndGeneralAmt06321
IRS990/TravelGrp/ProgramServicesAmt050542
IRS990/TravelGrp/TotalAmt057394
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0169 MADISON AVE 2880
IRS990/USAddress/CityNm0NEW YORK
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd010016
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0THIRDACT.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0VANESSA ARCARA
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum03109290276
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THIRD ACT INITIATIVE INC
ReturnHeader/Filer/BusinessNameControlTxt0THIR
ReturnHeader/Filer/EIN0880776955
ReturnHeader/Filer/PhoneNum03109290276
ReturnHeader/Filer/USAddress/AddressLine1Txt0169 MADISON AVE 2880
ReturnHeader/Filer/USAddress/CityNm0NEW YORK
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd010016
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0133597814
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SKODY SCOT & CO CPAS PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0520 EIGHTH AVE SUITE 2200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NEW YORK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd010018
ReturnHeader/PreparerPersonGrp/PhoneNum02129671100
ReturnHeader/PreparerPersonGrp/PreparationDt02024-11-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LAURENCE SCOT MBA CPA
ReturnHeader/ReturnTs02024-11-14T15:25:33-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$285,964
Liabilities
$31,166
Net assets
$254,798
Revenue
$2,008,973
Expenses
$1,919,749
Net income
$89,224
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.28$0.02$0.26$1.56$1.53$0.03
2023Detailed filing. Detailed filing data is available for this year.$0.29$0.03$0.25$2.01$1.92$0.09
2022Detailed filing. Detailed filing data is available for this year.$0.17$0.00$0.17$0.90$0.73$0.17