Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $1,548,725

• 1f · All other contributions, gifts and grants

  $512,930

• 2a · Program service revenue: Service Revenue

  total $6,667,908 · related or exempt $6,667,908

• 3 · Investment income

  total $64,266 · excluded $64,266

• 7b · Less cost or other basis and sales expenses

  other assets $3,454

• 7c · Gain or loss

  other assets -$3,454

• 7d · Net gain or loss

  total -$3,454 · related or exempt -$3,454

• 10a · Gross sales of inventory

  $4,000

• 10b · Cost of goods sold

  $1,577

• 10c · Net income from sales of inventory

  total $2,423 · related or exempt $2,423

• 11a · Other revenue: Other revenue

  total $25,187 · excluded $25,187

• 11e · Other revenue, total

  $25,187

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $1,161,011 · program services $853,019 · management and general $307,992

• 7 · Other salaries and wages

  total $2,332,823 · program services $2,260,780 · management and general $72,043

• 8 · Pension plan contributions

  total $279,940 · program services $239,243 · management and general $40,697

• 9 · Other employee benefits

  total $501,097 · program services $412,159 · management and general $88,938

• 10 · Payroll taxes

  total $255,106 · program services $225,748 · management and general $29,358

• 11b · Fees: legal

  total $103,013 · program services $103,013

• 11c · Fees: accounting

  total $22,535 · management and general $22,535

• 11g · Fees: other

  total $1,593,012 · program services $1,403,125 · management and general $189,887

• 12 · Advertising and promotion

  total $208,222 · program services $208,222

• 13 · Office expenses

  total $219,075 · program services $192,893 · management and general $26,182

• 14 · Information technology

  total $60,471 · program services $53,264 · management and general $7,207

• 16 · Occupancy

  total $75,767 · program services $66,736 · management and general $9,031

• 17 · Travel

  total $467,120 · program services $467,120

• 19 · Conferences, conventions and meetings

  total $45,364 · program services $39,957 · management and general $5,407

• 22 · Depreciation, depletion and amortization

  total $1,343,421 · program services $1,331,821 · management and general $11,600

• 23 · Insurance

  total $65,861 · program services $58,010 · management and general $7,851

• 24a · Other expenses: Printing, publications,

  total $120,467 · program services $106,107 · management and general $14,360

• 24b · Other expenses: Bad debt expense

  total $6,720 · management and general $6,720

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $135,621 · end of year $26,822

• 2 · Savings and temporary cash investments

  beginning of year $1,672,378 · end of year $1,926,659

• 4 · Accounts receivable

  beginning of year $437,379 · end of year $447,406

• 8 · Inventories for sale or use

  beginning of year $30,819 · end of year $29,242

• 9 · Prepaid expenses and deferred charges

  beginning of year $215,539 · end of year $200,009

• 10a · Land, buildings and equipment: cost or other basis

  $223,713

• 10b · Land, buildings and equipment: accumulated depreciation

  $186,105

• 10c · Land, buildings and equipment, net

  beginning of year $16,448 · end of year $37,608

• 14 · Intangible assets

  beginning of year $3,475,809 · end of year $3,352,818

• 15 · Other assets

  beginning of year $209,204 · end of year $141,553

• 17 · Accounts payable and accrued expenses

  beginning of year $859,805 · end of year $905,133

• 19 · Deferred revenue

  beginning of year $196,951 · end of year $230,366

• 25 · Other liabilities

  beginning of year $210,942 · end of year $144,159

• 27 · Net assets without donor restrictions

  beginning of year $4,925,499 · end of year $4,882,459

The filer's explanations (Part III)

Part I, Line 7

Permanent full-time employees are eligible for the Incentive Program. The first factor of the incentive is based on predefined goals between the employee and his/her immediate supervisor. These goals must be agreed upon between the employee and supervisor by September 30 of the current fiscal year, and maybe realigned accordingly. The second factor of the incentive is based on predefined goals for the overall organization, as determined by input from the team and the President & CEO. The organization must meet or exceed overall budget. Using the Institute's Performance Assessment and Action Plan, at the end of the fiscal year, the employee will be assessed for results and competency with a rating system by the immediate supervisor. These results are then entered into the Institute's Salary and Incentive form. The payout is based on the overall performance rating of the employee. In collaboration with leadership, the President & CEO will evaluate and measure achieved company goals.