Civic Intelligence

Buchanan Friendship Foundation

990 • Fiscal year 2018 • EIN 98-1376156

Dec 01, 2017 to Nov 30, 2018 • Filed on Oct 14, 2019

Organization ProfileN/A
Court Place Rue Du ManoirSaint Peter Port GY1 3XZGk

(207) 042-2079

Siviq Scores

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

Liabilities / Assets

3rd percentile

0.00x

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

2018 filings • $250M-$1B nonprofits • Source year 2018

Liabilities / Revenue

3rd percentile

0.00x

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

2018 filings • $250M-$1B nonprofits • Source year 2018

Net Margin

98th percentile

86%

Higher net margin than 98% of similar nonprofits.

2018 filings • $250M-$1B nonprofits • Source year 2018

Top Officer Pay

5th percentile

$10,139

Higher top officer pay than 5% of similar nonprofits.

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

2018 filings • $250M-$1B nonprofits • Source year 2018

Asset Growth

Score unavailable

No value available

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

Source year 2018

Revenue Growth

Score unavailable

No value available

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

Source year 2018

Balance Sheet
Liabilities / Assets3rd percentile

Assets

$436,510,670

No earlier filing loaded for comparison.

Net Assets

$436,510,670

No earlier filing loaded for comparison.

Liabilities

$0

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue3rd percentileNet Margin98th percentile

Revenue

$26,307,098

No earlier filing loaded for comparison.

Expenses

$3,668,785

No earlier filing loaded for comparison.

Net Income

$22,638,313

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.

$2.0B$1.5B$1.0B$500M$0Assets 2018: $436,510,670Liabilities 2018: $0Net Assets 2018: $436,510,6702018Assets 2019: $428,953,469Liabilities 2019: $0Net Assets 2019: $428,953,4692019Assets 2020: $440,834,203Liabilities 2020: $0Net Assets 2020: $440,834,2032020Assets 2021: $1,154,721,588Liabilities 2021: $0Net Assets 2021: $1,154,721,5882021Assets 2022: $1,094,617,665Liabilities 2022: $0Net Assets 2022: $1,094,617,6652022Assets 2023: $1,185,692,093Liabilities 2023: $0Net Assets 2023: $1,185,692,0932023Assets 2024: $1,508,593,902Liabilities 2024: $0Net Assets 2024: $1,508,593,9022024

Highlighted filing

2018

Assets$436,510,670
Liabilities$0
Net Assets$436,510,670
Open 2018 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$800M$600M$400M$200M$0-$200MRevenue 2018: $26,307,098Expenses 2018: $3,668,785Net Income 2018: $22,638,3132018Revenue 2019: $14,130,402Expenses 2019: $29,947,896Net Income 2019: -$15,817,4942019Revenue 2020: -$102,169Expenses 2020: $155,445Net Income 2020: -$257,6142020Revenue 2021: $662,031,035Expenses 2021: $133,018Net Income 2021: $661,898,0172021Revenue 2022: $1,754,790Expenses 2022: $4,569,422Net Income 2022: -$2,814,6322022Revenue 2023: $1,087,536Expenses 2023: $1,319,820Net Income 2023: -$232,2842023Revenue 2024: $51,830,730Expenses 2024: $13,389,808Net Income 2024: $38,440,9222024

Highlighted filing

2018

Revenue$26,307,098
Expenses$3,668,785
Net Income$22,638,313
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Dec 1, 2017 to Nov 30, 2018
Signed
Oct 14, 2019
Return Version
2017v2.3
Gross Receipts
$29,618,149
Mission and Program Overview

Mission

The foundation devotes its property to funding and developing philanthropic projects that promote social welfare (including for religious, charitable, scientific, literary or educational purposes) within the meaning of section 501(c)(4) of the internal revenue code of 1986, as amended (the "code").

The foundation is devoted to funding and developing philanthropic projects that promote social welfare.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$413,878,829$436,510,670▲ $22,631,841
Investments in Publicly Traded Securities$241,228,848$262,700,468▲ $21,471,620
Investments Other Securities$164,190,800$164,190,800→ $0
Cash and Non-Interest-Bearing Accounts$8,459,181$9,619,402▲ $1,160,221
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$413,878,829$436,510,670▲ $22,631,841
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$413,878,829$436,510,670▲ $22,631,841
Total Liabilities and Net Assets / Fund Balance$413,878,829$436,510,670▲ $22,631,841

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$141,190,800--
Compensation and Service Providers
Top Officer Pay5th percentile

Employees

NameTitleBaseTotal
Peter AtkinsonGuardian$10,139$10,139

Board Members and Trustees

NameTitle
Alicia Nimo SsavedraCouncillor
William Buchanan GrayCouncillor
Revenue and Support

Revenue Composition

Contributions and Grants
$1,505,874
Program Service Revenue
$0
Investment Income
$24,801,224
Other Revenue
$0
All Other Contributions
$1,505,874
Change in Net Assets
$22,638,313
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$3,052,250
Other Expenses$616,535
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$3,052,250--$3,052,250
Fees for Service Investment Mgmnt Fees-$416,840-$416,840
Other Expenses-$98,375-$98,375
Fees for Services Legal-$80,984-$80,984
Fees for Services Other-$20,280-$20,280
Interest-$56-$56
Total Functional Expenses$3,052,250$616,535$0$3,668,785
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Schwab Charitable FundSan Francisco, CA-Support for Philanthropic Projects.$3,052,250

International Summary

Offices
1
Employees
1
Spending
$10,139

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
Yes
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
GuernseyResident Agent-11$10,139
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
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 2

“The two voting members of the governing body are married.”

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

“The draft form 990 is circulated to the councillors as well as to the organization's legal counsel. All feedback is immediately addressed. Any resulting modifications are incorporated into a revised final draft.”

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

“In accordance with the policy, a councillor is required to disclose real, potential or perceived conflicts of interest to the other councillors.”

Form 990, Part VI, Section B, Line 15

“The current councillors of the foundation do not receive compensation for their services to the foundation. It is possible that future councillors would receive compensation. Payment of compensation to councillors is governed by the foundation's organizational documents, which require that compensation be reasonable and at market rates. Peter atkinson, who serves as the guardian of the foundation, is also the foundation's registered agent and receives a fee for his services as registered agent. The foundation is subject to the intermediate sanctions rules of code section 4958, which impose a penalty excise tax on "excess benefit transactions" between the foundation and "disqualified persons," including the foundation's guardian. Pursuant to section 4958, the foundation takes appropriate steps to ensure that the guardian does not receive a direct or indirect economic benefit from the foundation worth more than the services or goods provided by the disqualified person in return. The foundation has confirmed that the fee mr. Atkinson receives as registered agent is at market rate.”

Form 990, Part VI, Section C, Line 19

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Buchanan Friendship Foundation
EIN
98-1376156
Phone
2070422079
Address
GK

Signing Officer

Name
William Buchanan Gray
Title
Councillor
Phone
2070422079
Signed
2019-10-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
William Buchanan Gray
Formed
2017
Voting Board Members
2
Independent Board Members
2
Employees
0
Volunteers
0

Preparer

Firm
Scott a Goffstein & Associates Llp
Address
465 WAVERLEY OAKS RD SUITE 420, WALTHAM, MA 02452
Preparer
Scott a Goffstein
Phone
7813981770
Raw XML Appendix361 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 TWO VOTING MEMBERS OF THE GOVERNING BODY ARE MARRIED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE DRAFT FORM 990 IS CIRCULATED TO THE COUNCILLORS AS WELL AS TO THE ORGANIZATION'S LEGAL COUNSEL. ALL FEEDBACK IS IMMEDIATELY ADDRESSED. ANY RESULTING MODIFICATIONS ARE INCORPORATED INTO A REVISED FINAL DRAFT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2IN ACCORDANCE WITH THE POLICY, A COUNCILLOR IS REQUIRED TO DISCLOSE REAL, POTENTIAL OR PERCEIVED CONFLICTS OF INTEREST TO THE OTHER COUNCILLORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE CURRENT COUNCILLORS OF THE FOUNDATION DO NOT RECEIVE COMPENSATION FOR THEIR SERVICES TO THE FOUNDATION. IT IS POSSIBLE THAT FUTURE COUNCILLORS WOULD RECEIVE COMPENSATION. PAYMENT OF COMPENSATION TO COUNCILLORS IS GOVERNED BY THE FOUNDATION'S ORGANIZATIONAL DOCUMENTS, WHICH REQUIRE THAT COMPENSATION BE REASONABLE AND AT MARKET RATES. PETER ATKINSON, WHO SERVES AS THE GUARDIAN OF THE FOUNDATION, IS ALSO THE FOUNDATION'S REGISTERED AGENT AND RECEIVES A FEE FOR HIS SERVICES AS REGISTERED AGENT. THE FOUNDATION IS SUBJECT TO THE INTERMEDIATE SANCTIONS RULES OF CODE SECTION 4958, WHICH IMPOSE A PENALTY EXCISE TAX ON "EXCESS BENEFIT TRANSACTIONS" BETWEEN THE FOUNDATION AND "DISQUALIFIED PERSONS," INCLUDING THE FOUNDATION'S GUARDIAN. PURSUANT TO SECTION 4958, THE FOUNDATION TAKES APPROPRIATE STEPS TO ENSURE THAT THE GUARDIAN DOES NOT RECEIVE A DIRECT OR INDIRECT ECONOMIC BENEFIT FROM THE FOUNDATION WORTH MORE THAN THE SERVICES OR GOODS PROVIDED BY THE DISQUALIFIED PERSON IN RETURN. THE FOUNDATION HAS CONFIRMED THAT THE FEE MR. ATKINSON RECEIVES AS REGISTERED AGENT IS AT MARKET RATE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4NO DOCUMENTS AVAILABLE TO THE PUBLIC.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
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Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$436,510,670
Liabilities
$0
Net assets
$436,510,670
Revenue
$26,307,098
Expenses
$3,668,785
Net income
$22,638,313
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1,509$0.00$1,509$51.8$13.4$38.4
2023Detailed filing. Detailed filing data is available for this year.$1,186$0.00$1,186$1.09$1.32$0.23
2022Detailed filing. Detailed filing data is available for this year.$1,095$0.00$1,095$1.75$4.57$2.81
2021Detailed filing. Detailed filing data is available for this year.$1,155$0.00$1,155$662$0.13$662
2020Detailed filing. Detailed filing data is available for this year.$441$0.00$441$0.10$0.16$0.26
2019Detailed filing. Detailed filing data is available for this year.$429$0.00$429$14.1$29.9$15.8
2018Detailed filing. Detailed filing data is available for this year.$437$0.00$437$26.3$3.67$22.6