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Nonprofiteer
← HIS WAY INC

Form 990 for tax year 2022

Filed by HIS WAY INC.

Totals

Total revenue
$884,335
Total expenses
$829,743
Contributions and grants received
$67,493
Grants paid
$578,876
Program service revenue
$0
Investment income
-$5,670
Other revenue
$822,512
Total assets, end of year
$1,600,122
Total liabilities, end of year
$96,556
Net assets or fund balances, end of year
$1,503,566
Program services expenses (Part IX)
$743,059
Management and general expenses
$86,684
Fundraising expenses
$0
Program service expenses (Part III)
$743,059

Program services were 89.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $67,493

  • 3 · Investment income

    total $2,123 · excluded $2,123

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

    other assets $7,793

  • 7c · Gain or loss

    other assets -$7,793

  • 7d · Net gain or loss

    total -$7,793 · related or exempt -$7,793

  • 9a · Gaming: gross income

    $5,691,800

  • 9b · Gaming: direct expenses

    $4,940,091

  • 9c · Net income from gaming

    total $751,709 · related or exempt $343,759 · unrelated business $407,950

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $70,803 · excluded $70,803

  • 11e · Other revenue, total

    $70,803

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $578,876 · program services $578,876

  • 5 · Compensation of officers, directors and key employees

    total $108,865 · program services $90,721 · management and general $18,144

  • 7 · Other salaries and wages

    total $37,427 · program services $916 · management and general $36,511

  • 11b · Fees: legal

    total $10,560 · program services $4,468 · management and general $6,092

  • 12 · Advertising and promotion

    total $10,154 · program services $7,298 · management and general $2,856

  • 13 · Office expenses

    total $32,245 · program services $23,123 · management and general $9,122

  • 16 · Occupancy

    total $19,790 · program services $14,224 · management and general $5,566

  • 17 · Travel

    total $8,727 · program services $6,830 · management and general $1,897

  • 19 · Conferences, conventions and meetings

    total $239 · program services $172 · management and general $67

  • 22 · Depreciation, depletion and amortization

    total $17,120 · program services $12,305 · management and general $4,815

  • 23 · Insurance

    total $7,415 · program services $5,330 · management and general $2,085

  • 24a · Other expenses: MISCELLANEOUS

    total -$1,675 · program services -$1,204 · management and general -$471

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $584,088 · end of year $566,290

  • 8 · Inventories for sale or use

    beginning of year $25,579 · end of year $33,201

  • 9 · Prepaid expenses and deferred charges

    beginning of year $5,705 · end of year $5,705

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

    $1,197,720

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

    $288,670

  • 10c · Land, buildings and equipment, net

    beginning of year $906,439 · end of year $909,050

  • 15 · Other assets

    beginning of year $5,650 · end of year $85,876

  • 17 · Accounts payable and accrued expenses

    beginning of year $10,994 · end of year $13,450

  • 25 · Other liabilities

    beginning of year $67,493 · end of year $83,106

  • 27 · Net assets without donor restrictions

    beginning of year $1,448,974 · end of year $1,503,566

Mission and programs · 2022

Mission

TO SERVE THE NEEDS OF CHILDREN UNDER THE AGE OF 18 WITH MONETARY CONTRIBUTIONS TO 501(C)(3) ORGANIZATIONS. THE PURPOSE OF THE RECEIVING CHARITIES MUST BE TO SERVE THE NEEDS OF UNDERPRIVILEGED, AT RISK, ABUSED, NEGLECTED OR HOMELESS CHILDREN.

Activities or mission (Part I)

THE SPECIFIC OBJECTIVES AND PURPOSES OF THIS CORPORATION SHALL BE CHARITABLE. THE PRINCIPAL PURPOSE AND OBJECTIVE OF HIS WAY, INC. SHALL BE TO SERVE THE NEEDS OF CHILDREN UNDER THE AGE OF 18 WITH MONETARY CONTRIBUTIONS TO OTHER 501(C)(3) CHARITIES. THE PURPOSE OF THE RECEIVING CHARITIES, AS REGISTERED AND REPORTED TO THE MISSISSIPPI SECRETARY OF STATE'S OFFICE, MUST BE TO SERVE THE NEEDS OF UNDERPRIVILEGED, AT RISK, ABUSED, NEGLECTED OR HOMELESS CHILDREN. SERVICES MAY INCLUDE FOOD, CLOTHING, SHELTER, AFTER-SCHOOL MENTORING PROGRAMS, SUPPLIES AND EQUIPMENT, MEDICAL AND REMEDIAL CARE, AND CONSTRUCTION. AT THE SOLE DISCRETION OF THE BOARD OF DIRECTORS, CONTRIBUTIONS MAY ALSO BE MADE TO CHARITIES TO FUND OTHER SERVICES OF THE ORGANIZATION THAT ARE DIRECTLY RELATED TO MEETING THE NEEDS OF THE CHILDREN SERVED.

  • PROVIDE SUPPORT TO ORGANIZATIONS WHICH OPERATE PROGRAMS THAT NURTURE AND ASSIST UNDERPRIVILEGED, NEGLECTED, ABUSED OR HOMELESS CHILDREN.

    Expenses $743,059 · Grants $578,876

As filed on the 2022 return.

Listed in Part VII

  • Larry Taylor

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Bob Spring

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Todd Warren

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Ken Guthrie

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Tyler Ball

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Bryan Nelms

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kevin Starks

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Leslie Threadgill

    EXECUTIVE DIRECTOR

    Total calculated
    $122,364
    From this org
    $120,961
    From related orgs
    $0
    Other
    $1,403
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Schedule J

Answered yes

  • 3 · Written employment contract
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2022
Filed
31 October 2023
IRS schema version
2022v5.0
Source object
202323049349301282

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