Civic Intelligence

V3 Foundation

990 • Fiscal year 2023 • EIN 93-2899435

Aug 01, 2023 to Dec 31, 2023 • Filed on Oct 07, 2024

Organization ProfileN/A
701 Plymouth Avenue NorthMinneapolis, MN 55411-4247

(833) 837-7678

Siviq Scores

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

Liabilities / Assets

62nd percentile

0.31x

Higher debt load relative to assets than 62% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

65th percentile

0.45x

Higher debt load relative to revenue than 65% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Net Margin

99th percentile

100%

Higher net margin than 99% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Top Officer Pay

22nd percentile

$98,077

Higher top officer pay than 22% of similar nonprofits.

Top officer pay equals 0.8% of source-year revenue.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Asset Growth

Score unavailable

No value available

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

Source year 2023

Revenue Growth

Score unavailable

No value available

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

Source year 2023

Balance Sheet
Liabilities / Assets62nd percentile

Assets

$18,780,093

No earlier filing loaded for comparison.

Net Assets

$12,958,676

No earlier filing loaded for comparison.

Liabilities

$5,821,417

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue65th percentileNet Margin99th percentile

Revenue

$12,958,775

No earlier filing loaded for comparison.

Expenses

$99

No earlier filing loaded for comparison.

Net Income

$12,958,676

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.

$30M$20M$10M$0Assets 2023: $18,780,093Liabilities 2023: $5,821,417Net Assets 2023: $12,958,6762023Assets 2024: $25,267,458Liabilities 2024: $5,855,629Net Assets 2024: $19,411,8292024

Highlighted filing

2023

Assets$18,780,093
Liabilities$5,821,417
Net Assets$12,958,676
Open 2023 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$15M$10M$5.0M$0Revenue 2023: $12,958,775Expenses 2023: $99Net Income 2023: $12,958,6762023Revenue 2024: $6,674,990Expenses 2024: $221,837Net Income 2024: $6,453,1532024

Highlighted filing

2023

Revenue$12,958,775
Expenses$99
Net Income$12,958,676
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Aug 1, 2023 to Dec 31, 2023
Signed
Oct 7, 2024
Return Version
2023v5.0
Gross Receipts
$12,958,775
Mission and Program Overview

Mission

V3 foundation serves as a supporting organization for the benefit of v3 sports, inc.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts-$240,332-
Total Assets$0$18,780,093▲ $18,780,093
Other Assets Total-$18,539,761-
Liabilities
Mortgage Notes Payable Secured by Investment Property-$5,820,000-
Accounts Payable and Accrued Expenses-$1,417-
Other Liabilities-$0-
Total Liabilities$0$5,821,417▲ $5,821,417
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$0$12,958,676▲ $12,958,676
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$0$12,958,676▲ $12,958,676
Total Liabilities and Net Assets / Fund Balance$0$18,780,093▲ $18,780,093

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$18,539,761--
Compensation and Service Providers
Top Officer Pay22nd percentile

Employees

NameTitleOtherTotal
Malik RuckerSecretary$98,077$98,077
Jacquie StrebeTreasurer$60,769$60,769

Board Members and Trustees

NameTitle
Kyle WaltonPresident/Executive Director
Bianca DawkinsDirector
PJ HillDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$12,958,775
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$0
Change in Net Assets
$12,958,676

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
Real Estate Commercial1$12,958,775Cost
Total Noncash Contributions1$12,958,775-

Audited Revenue Reconciliation

Revenue per Audited Statements
$12,958,775
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$12,958,775
Total Revenue per Form 990
$12,958,775
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$99
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
Occupancy-$99-$99
Total Functional Expenses$0$99$0$99

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$99
Total Expenses per Audited Statements$99
Total Expenses per Form 990$99
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Other Expense Adjustments$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
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
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 8A

“There have been no Board or committee meetings, so there have been no minutes taken.”

Form 990, Part VI, Section A, Line 8B

“There have been no Board or committee meetings, so there have been no minutes taken.”

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

“The Board of Directors reviews and approves the Form 990.”

Form 990, Part VI, Section C, Line 19

“The Organization makes it governing documents, conflict of interest policy, and financial statements available upon request at the Organization's address.”

Filing and Contact Details

Filer

Filer Name
V3 Foundation
EIN
93-2899435
Phone
8338377678
Address
701 Plymouth Avenue North, Minneapolis, MN 55411-4247

Signing Officer

Name
Jacquie Strebe
Title
Treasurer
Phone
8338377678
Signed
2024-10-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kyle Walton
Formed
2023
Legal Domicile
Mn
Voting Board Members
5
Independent Board Members
3
Employees
0
Volunteers
5

Preparer

Firm
BWK Rogers PC
Address
431 South 7th Street Suite 2424, Minneapolis, MN 55415
Preparer
Melissa J Baraibar
Phone
6123325446
Supplemental Narrative

Financial Statement Notes

Schedule D, Part X, Line 2

“The Organization's activities are generally exempt from federal and state income taxes under Section 501(c)(3) of the Internal Revenue Code. Since the Organization is exempt from federal and state income tax liability, no provision is made for current or deferred income tax expense. The Organization is not a private foundation. Management has determined that the Organization is not subject to unrelated business income tax. Management is not aware of any transactions that would impact the Organization's taxexempt status. The Organization follows the guidance of the Accounting Standard Codification (ASC) 740, Accounting for Income Taxes, related to uncertainties in income taxes, which prescribes a threshold of more likely than not for recognition and derecognition of positions taken or expected to be taken in a tax return. For the five-month period ended December 31, 2023, management of the Organization is not aware of any material uncertain tax positions.All tax-exempt entities are subject to review and audit by federal, state and other applicable agencies. Such agencies may review the taxability of unrelated business income, or the qualification of the tax-exempt entity under the Internal Revenue Code and applicable state statutes. For federal tax purposes, the tax returns remain open for possible examination for a period of three years after the respective filing deadlines of those returns.”

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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/ExplanationTxt0The Organization's activities are generally exempt from federal and state income taxes under Section 501(c)(3) of the Internal Revenue Code. Since the Organization is exempt from federal and state income tax liability, no provision is made for current or deferred income tax expense. The Organization is not a private foundation. Management has determined that the Organization is not subject to unrelated business income tax. Management is not aware of any transactions that would impact the Organization's taxexempt status. The Organization follows the guidance of the Accounting Standard Codification (ASC) 740, Accounting for Income Taxes, related to uncertainties in income taxes, which prescribes a threshold of more likely than not for recognition and derecognition of positions taken or expected to be taken in a tax return. For the five-month period ended December 31, 2023, management of the Organization is not aware of any material uncertain tax positions.All tax-exempt entities are subject to review and audit by federal, state and other applicable agencies. Such agencies may review the taxability of unrelated business income, or the qualification of the tax-exempt entity under the Internal Revenue Code and applicable state statutes. For federal tax purposes, the tax returns remain open for possible examination for a period of three years after the respective filing deadlines of those returns.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0There have been no Board or committee meetings, so there have been no minutes taken.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1There have been no Board or committee meetings, so there have been no minutes taken.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Board of Directors reviews and approves the Form 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Organization makes it governing documents, conflict of interest policy, and financial statements available upon request at the Organization's address.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 8a
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, Line 19
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0701 Plymouth Ave N
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Minneapolis
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0MN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd055411
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd01
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IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd01
IRS990ScheduleR/SharingOfFacilitiesInd01
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt012958775
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt15580986
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt25820000
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IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0V3 Sports Inc
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1V3 Sports Inc
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IRS990/TotalOtherProgSrvcGrantAmt00
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IRS990/TotalProgramServiceRevenueAmt00
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IRS990/TotReportableCompRltdOrgAmt0158846
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0701 Plymouth Avenue North
IRS990/USAddress/CityNm0Minneapolis
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd0554114247
IRS990/VotingMembersGoverningBodyCnt05
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IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Jacquie Strebe
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Treasurer
ReturnHeader/BusinessOfficerGrp/PhoneNum08338377678
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ReturnHeader/Filer/EIN0932899435
ReturnHeader/Filer/PhoneNum08338377678
ReturnHeader/Filer/USAddress/AddressLine1Txt0701 Plymouth Avenue North
ReturnHeader/Filer/USAddress/CityNm0Minneapolis
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd0554114247
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0271375413
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BWK Rogers PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0431 South 7th Street Suite 2424
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Minneapolis
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd055415
ReturnHeader/PreparerPersonGrp/PhoneNum06123325446

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$18,780,093
Liabilities
$5,821,417
Net assets
$12,958,676
Revenue
$12,958,775
Expenses
$99
Net income
$12,958,676
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$25.3$5.86$19.4$6.67$0.22$6.45
2023Detailed filing. Detailed filing data is available for this year.$18.8$5.82$13.0$13.0$0.00$13.0