Cortex Support Corporation: FY2020 Nonprofit Profile & Form 990 (EIN 81-2147807)

Revenue by fiscal year
FY2020	$416K
FY2021	$416K
FY2022	$416K
FY2023	$207K

Expenses by fiscal year
FY2020	$241K
FY2021	$189K
FY2022	$257K
FY2023	$5.5M

Net assets by fiscal year
FY2020	$4.9M
FY2021	$5.2M
FY2022	$5.3M
FY2023	$0

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023.

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

Where the money goes

100 cents of each dollar spent went to programs.

100%

Program services 100% · $241K

Form 990 Part IX, line 25. Every line is in By the numbers.

Something off? Claim to add context

Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation

Mary Campbell

Director

$0Pt VII · Sec A

Robert Cannon

Director

$0Pt VII · Sec A

Hank Webber

Director

$0Pt VII · Sec A

Sam Fiorello

President/Secretary

$0Pt VII · Sec A

Dennis Lower

President/Secretary (former)

$0Pt VII · Sec A

See Cortex Support Corporation executive salaries →

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 15aYes

Programs and updates

Supports Cortex's mission and operations.

Questions for Cortex Support Corporation

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1 program · $241K · in their own filed words · FY2020

01

The organization is the leverage lender in new market tax credits financing for the acquistion and construction of the building located at 4260 forest park.

Form 990 Part III, line 4, FY2020. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 81-2147807) · Dispute this line

$241Kprogram expense

By the numbers

The FY2020 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$416K

Ln 12

Investment incomeLn 3$416K

Money outPt IX

$241K

Ln 25

Programscol B$241K

Owns and owesPt X

$4.9M

net assets · Ln 32

Total assetsLn 16$11.9M

LiabilitiesLn 26$7.0M

PeoplePt VI, VII

5

listed · VII A

PaidVII A0

Voting boardVI 1a4

IndependentVI 1b3

2In more detail

Revenue in detailPt VIII

Investment incomeLn 3$416K

Total revenueLn 12$416K

Assets in detailPt X, end of year

Notes and loans receivableLn 7$11.9M

Total assetsLn 16$11.9M

LiabilitiesLn 26$7.0M

Net assetsLn 32$4.9M

OperationsPt I, VI

EmployeesI 50

VolunteersI 63

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY20	End FY20
Total assetsLn 16	$11.9M	$11.9M
LiabilitiesLn 26	$7.1M	$7.0M
Net assetsLn 32	$4.8M	$4.9M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Accounting feesLn 11c	$3K	$3K
Office expensesLn 13	$10	$10
InterestLn 20	$237K	$237K
Total functional expensesLn 25	$241K	$241K	$0	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2023 LatestFiled with the IRS Jul 22, 2024	$207K	$5.5M	−$5.3M	$0	990 PDF
FY2022Filed with the IRS Jun 12, 2023	$416K	$257K	$159K	$5.3M	990 PDF
FY2021Filed with the IRS Oct 13, 2022	$416K	$189K	$227K	$5.2M	990 PDF
FY2020 ViewingFiled with the IRS Oct 20, 2021	$416K	$241K	$176K	$4.9M	990 PDF

Schedules filed Part IV

I · Grants O · Explanations

See the full FY2020 990

Part I · Summary $416,241 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $0$0

I-9 Program service revenuePrior year $0$0

I-10 Investment incomePrior year $416,241$416,241

I-11 Other revenuePrior year $0$0

I-12 Total revenuePrior year $416,241$416,241

I-13 Grants and similar amounts paidPrior year $0$0

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $0$0

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $360,125$240,537

I-18 Total expensesPrior year $360,125$240,537

I-19 Revenue less expensesPrior year $56,116$175,704

Part VI · Governance 3 of 4 board members independent, no flags

VI-1a Voting members of the governing body4

VI-1b Independent voting members3

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

VI-15a Process for setting top official's payYes

Part VIII · Statement of revenue $416,241 across 2 lines filed

VIII-3 Investment incomeExcluded from tax $416,241$416,241

VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $416,241$416,241

Part IX · Statement of functional expenses $240,537 across 3 lines filed

IX-11c Accounting feesPrograms $3,225$3,225

IX-13 Office expensesPrograms $10$10

IX-20 InterestPrograms $237,302$237,302

IX-25 Total functional expensesPrograms $240,537 · Management $0 · Fundraising $0$240,537

Part X · Balance sheet $11,892,600 assets, 8 lines filed

X-7 Notes and loans receivableStart of year $11,892,600$11,892,600

X-16 Total assetsStart of year $11,892,600$11,892,600

X-24 Unsecured notes and loans payableStart of year $6,750,000$6,450,000

X-25 Other liabilitiesStart of year $385,426$509,722

X-26 Total liabilitiesStart of year $7,135,426$6,959,722

X-27 Net assets without donor restrictionsStart of year $4,757,174$4,932,878

X-32 Total net assets or fund balancesStart of year $4,757,174$4,932,878

X-33 Total liabilities and net assetsStart of year $11,892,600$11,892,600

Part XI · Reconciliation of net assets $4,932,878 net assets at year end

XI-1 Total revenue$416,241

XI-2 Total expenses$240,537

XI-3 Revenue less expenses$175,704

XI-4 Net assets at start of year$4,757,174

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$4,932,878

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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Cortex Support Corporation FY2020 filing

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Cortex Support Corporation

By the numbers

Filing history

Schedules filed Part IV