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Atip Foundation LLC FY2021 filing

Tax-deductible

Arlington, TX501(c)(3)Food & Agriculture EIN 45-2803441Revenue $349K in FY2021

On file with the IRSatipfoundation.com1506 W Pioneer Pkwy Ste 101, 76013-6253 · Arlington, TXTax-exempt since Sep 2014Publicly supported charity — 170(b)(1)(A)(vi)

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The Atip foundation's purpose is to serve as a catalyst for rural economic development, through the use of usda research outcomes, market assessment, and patented technologies. The Foundation supports a strategic approach to the formation of collaborative partnerships, facilitating and enabling the integration of industry, academic, and government research and discovery with venture capital and talent and know-how. The primary objective of Atip Foundation is to create nationally recognized, investor based consortiums of agri-businesses, universities, economic development entities, and venture funds for the development, implementation, and commercialization of usda technology discoveries, in order to develop, and expand the agriculture industry. The Foundation specifically seeks to improve the competitiveness and profitability of the agriculture and agri-business industry sectors.

501(c)(3) charity; gifts are tax-deductible.
89¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2023
latest Form 990
Fine: the latest return is for FY2023, 3 tax years back; within 3 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 4
filings with a surplus
Average deficit $112K a year · 51% of revenue · last 4 filings
Concern: a surplus in 1 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
89%
of spending
Looks good: 89% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
1 mo
of spending, in cash
Fine: 1.1 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$349K
+94% vs prior year
Spent
$122K
To programs
89%
Net assets
$315K
By yearFY2020–FY2023
Revenue
$349K
FY2021▲ +94%
Tap a bar for its year
Revenue by fiscal year
FY2020$180K
FY2021$349K
FY2022$71K
FY2023$282K
Expenses
$122K
FY2021▼ -79%
Tap a bar for its year
Expenses by fiscal year
FY2020$591K
FY2021$122K
FY2022$305K
FY2023$309K
Net assets
$315K
FY2021▲ +254%
Tap a bar for its year
Net assets by fiscal year
FY2020$89K
FY2021$315K
FY2022$80K
FY2023$20K

From the FY2021 Form 990 (year ending September 2021) · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2023) →

Is it real?

Yes. Exemption reinstated (2014-02-15). Per the IRS revocation list. Latest filing on record: FY2023. IRS ruling in Sep 2014.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

89 cents of each dollar spent went to programs.

Program services 89% · $109K Management & general 11% · $13K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Tony Jeff
Member
$0Pt VII · Sec A
$0Pt VII · Sec A
See Atip Foundation LLC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Catalyzes rural economic growth by integrating USDA research with industry, academia, and venture capital.

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Provided by the organization

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1 program · $109K · in their own filed words · FY2020
01

The foundation has formed a public-private partnership with ilsi north america and the U.S. Department of agriculture-agricultural research service to obtain comprehensive food composition data from the food manufacturers and make it publicly available through an enhanced usda national nutrient database to those who utilize such data…

$109Kprogram expense

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$349K
Ln 12
Gifts and grantsLn 1h$349K
Money outPt IX
$122K
Ln 25
Programscol B$109K
Managementcol C$13K
Owns and owesPt X
$315K
net assets · Ln 32
Cash and savingsLn 1–2$12K
Total assetsLn 16$315K
LiabilitiesLn 26$0
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$349K
Government grantsLn 1e$339K
Total revenueLn 12$349K
Assets in detailPt X, end of year
CashLn 1$11K
SavingsLn 2$465
Cash and savings togetherLn 1–2$12K
Total assetsLn 16$315K
LiabilitiesLn 26$0
Net assetsLn 32$315K
OperationsPt I, VI
EmployeesI 50
VolunteersI 620
Fiscal year endsHeaderSeptember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$39K$12K
Total assetsLn 16$89K$315K
LiabilitiesLn 26$0$0
Net assetsLn 32$89K$315K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$2K$2K
Other fees for servicesLn 11g$98K$98K
Other expenses (24a–d)Ln 24$22K$11K$11K
All other expensesLn 24e$24$24
Total functional expensesLn 25$122K$109K$13K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2023 Latest $282K$309K−$28K$20K 990 PDF
FY2022 $71K$305K−$235K$80K 990 PDF
FY2021 Viewing $349K$122K$226K$315K 990 PDF
FY2020 $180K$591K−$411K$89K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $348,525 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $179,904$348,525
I-9 Program service revenue$0
I-10 Investment incomePrior year $2$0
I-11 Other revenue$0
I-12 Total revenuePrior year $179,906$348,525
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $591,403$122,401
I-18 Total expensesPrior year $591,403$122,401
I-19 Revenue less expensesPrior year −$411,497$226,124
Part VI · Governance 4 of 4 board members independent, 2 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
VI-12a Written conflict of interest policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $348,525 across 4 lines filed
VIII-1e Government grants$338,525
VIII-1f All other contributions, gifts and grants$10,000
VIII-1h Total contributions, gifts and grants$348,525
VIII-12 Total revenue$348,525
Part IX · Statement of functional expenses $122,401 across 4 lines filed
IX-11c Accounting feesManagement $2,400$2,400
IX-11g Other fees for servicesPrograms $98,287$98,287
IX-24 Other expenses (24a–d)Programs $11,065 · Management $10,625$21,690
IX-24e All other expensesManagement $24$24
IX-25 Total functional expensesPrograms $109,352 · Management $13,049 · Fundraising $0$122,401
Part X · Balance sheet $314,999 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $33,274$11,037
X-2 Savings and temporary cash investmentsStart of year $6,154$465
X-3 Pledges and grants receivableStart of year $38,197$303,497
X-16 Total assetsStart of year $88,875$314,999
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $88,875$314,999
X-32 Total net assets or fund balancesStart of year $88,875$314,999
X-33 Total liabilities and net assetsStart of year $88,875$314,999
Part XI · Reconciliation of net assets $314,999 net assets at year end
XI-1 Total revenue$348,525
XI-2 Total expenses$122,401
XI-3 Revenue less expenses$226,124
XI-4 Net assets at start of year$88,875
XI-10 Net assets at end of year$314,999

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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