Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $16,407,622

• 3 · Investment income

  total $960,251 · excluded $960,251

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $6,182,577 · program services $6,182,577

• 5 · Compensation of officers, directors and key employees

  total $124,229 · program services $124,229

• 7 · Other salaries and wages

  total $2,973,283 · program services $2,973,283

• 8 · Pension plan contributions

  total $9,177 · program services $9,177

• 9 · Other employee benefits

  total $88,009 · program services $88,009

• 10 · Payroll taxes

  total $23,646 · program services $23,646

• 11b · Fees: legal

  total $164,307 · program services $164,307

• 11g · Fees: other

  total $903,726 · program services $903,726

• 12 · Advertising and promotion

  total $2,860 · program services $2,860

• 13 · Office expenses

  total $124,671 · program services $124,671

• 14 · Information technology

  total $6,648 · program services $6,648

• 16 · Occupancy

  total $5,188 · program services $5,188

• 17 · Travel

  total $276,176 · program services $276,176

• 19 · Conferences, conventions and meetings

  total $30,601 · program services $30,601

• 23 · Insurance

  total $5,000 · program services $5,000

• 24a · Other expenses: BAD DEBT EXPENSE

  total $14,664,536 · program services $14,664,536

• 24b · Other expenses: R&D EXPENSE

  total $8,109,181 · program services $8,109,181

• 24c · Other expenses: STARTUP COSTS

  total $4,814,390 · program services $4,814,390

• 24d · Other expenses: PRODUCT COSTS

  total $1,812,793 · program services $1,812,793

• 24e · All other expenses

  total $358,281 · program services $358,281

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $45,481,588 · end of year $31,519,326

• 2 · Savings and temporary cash investments

  end of year $163,713

• 3 · Pledges and grants receivable

  beginning of year $6,049,636 · end of year $4,075,000

• 7 · Other notes and loans receivable

  beginning of year $12,000,000

• 15 · Other assets

  beginning of year $0 · end of year $2,220,703

• 17 · Accounts payable and accrued expenses

  beginning of year $441,214 · end of year $245,477

• 24 · Unsecured notes and loans payable

  beginning of year $6,328,563 · end of year $4,283,224

• 27 · Net assets without donor restrictions

  beginning of year $756,735 · end of year -$15,738,950

• 28 · Net assets with donor restrictions

  beginning of year $56,004,712 · end of year $49,188,991

The filer's explanations (Part III)

PART I, LINE 3

COMPENSATION IS PAID BY CIVICA, INC., A RELATED ORGANIZATION. CIVICA, INC. USES THE FOLLOWING METHODS TO DETERMINE COMPENSATION: COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, WRITTEN EMPLOYMENT CONTRACT, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.

PART I, LINE 4B

DURING 2021, UPON BOARD APPROVAL, THE ORGANIZATION ESTABLISHED A NON-QUALIFIED, DEFERRED COMPENSATION PLAN, A 457(F) PLAN, FOR CERTAIN KEY EMPLOYEES. FUNDS ARE SUBJECT TO RISK OF FORFEITURE BY PLAN PARTICIPANTS AND ARE AVAILABLE TO THE CREDITORS OF THE ORGANIZATION. IN ACCORDANCE WITH THE BOARD OF DIRECTORS' INTENT, THE ORGANIZATION WILL FUND INDIVIDUAL PARTICIPANT ACCOUNTS THROUGH INVESTMENT OPTIONS DIRECTED BY THE PARTICIPANTS. THE DEFERRED COMPENSATION PLAN IS PARTIALLY FUNDED, AND THE ORGANIZATION REPORTS THE DEFERRALS AND RELATED FUNDING IN ACCRUED EXPENSES AND INVESTMENTS, RESPECTIVELY, IN THE BALANCE SHEET. THE FOLLOWING INDIVIDUALS PARTICIPATED IN THE 457(F) NON-QUALIFIED DEFERRED COMPENSATION PLAN IN 2023, FOR WHICH THE EXPENSE WAS INCURRED BY THE SPONSORING ORGANIZATION, BUT THE FUNDS HAVE NOT VESTED OR BEEN PAID OUT TO THESE INDIVIDUALS. THE AMOUNTS LISTED BELOW ARE INCLUDED ON SCHEDULE J, PART II, COLUMN (C): EAMON FITZMAURICE, CHIEF FINANCIAL OFFICER: $30,771

PART I, LINE 7

THERE ARE DISCRETIONARY BONUSES THAT ARE AWARDED DETERMINED BY THE COMPENSATION COMMITTEE. THE BONUSES ARE BASED UPON OVERALL BUSINESS ACCOMPLISHMENTS COMPARED TO THE GOALS SET BY THE ORGANIZATION. BONUSES ARE PAID THROUGH CIVICA, INC.