Neads INC FY2022 filing

Tax-deductible

Princeton, MA501(c)(3)Human ServicesEIN 23-7281887

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Neads trains purchased puppies, bred puppies and a limited number of rescued dogs to assist people who are deaf or disabled, in living more independent lives at home, in school and at work.

501(c)(3) charity; gifts are tax-deductible.
80¢ of each $1 spent went to programs.
$287K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2022 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $1.2M a year · 24% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
80%
of spending
Looks good: 80% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$287K
to officers and key staff · 8% of spending
Looks good: pay to officers and key staff is 8% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 2.5 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $162K
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$697K
5% of total assets
Looks good: liabilities are 5% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$5.1M
-20% vs prior year
Spent
$3.7M
To programs
80%
Net assets
$13.5M
By yearFY2020–FY2025
Revenue
$5.1M
FY2022▼ -20%
Revenue by fiscal year
FY2020$3.8M
FY2021$6.4M
FY2022$5.1M
FY2023$5.7M
FY2024$4.5M
FY2025$4.9M
Expenses
$3.7M
FY2022▲ +16%
Expenses by fiscal year
FY2020$3.2M
FY2021$3.2M
FY2022$3.7M
FY2023$4.1M
FY2024$4.4M
FY2025$4.6M
Net assets
$13.5M
FY2022▲ +4%
Net assets by fiscal year
FY2020$9.6M
FY2021$13.0M
FY2022$13.5M
FY2023$15.2M
FY2024$15.9M
FY2025$16.4M

From the FY2022 Form 990 (year ending August 2022) · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 1973.

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

Where the money goes

80 cents of each dollar spent went to programs.

Program services 80% · $3.0M Management & general 12% · $467K Fundraising 8% · $300K

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

11 people listed on the 990; $287K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
$175,000Pt VII · Sec A
Chief Development and Programs Officer
$112,253Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A

Gerry Deroche’s $194K as CEO - Outgoing is at the 88th percentile of top reported officer pay among 3868 $1–10M human services nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Gerry Deroche$194,027$175,805$175,000$175,000$175,000$175,000
Cathy Zemaitis$119,847$123,809$114,894$112,253$108,384—
Cathryn Cleveland$102,066—————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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 15aYes

Programs and updates

Trains dogs to help deaf and disabled people live more independently.

Provided by the organization

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1 program service account for $3.0M of program spending, described in the organization's own filed words · FY2021.
01

Dog and Client Training

Neads dogs are trained to perform and behave obediently through the use of positive reinforcement and clear leadership. Neads dogs are taught a list of core commands and they follow a basic training schedule throughout puppyhood. 90 -95% of neads puppies are trained in correctional facilities in massachusetts and rhode island.

$3.0Mprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2025
See all 4 funders →

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$5.1M
Ln 12
Gifts and grantsLn 1h$4.9M
Investment incomeLn 3$211K
Money outPt IX
$3.7M
Ln 25
Programscol B$3.0M
Managementcol C$467K
Fundraisingcol D$300K
Owns and owesPt X
$13.5M
net assets · Ln 32
Cash and savingsLn 1–2$771K
Total assetsLn 16$14.2M
LiabilitiesLn 26$697K
PeoplePt VI, VII
11
listed · VII A
PaidVII A2
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$4.9M
Government grantsLn 1e$541K
Noncash giftsLn 1g$121K
Fundraising eventsLn 1c$55K
Investment incomeLn 3$211K
Gains on assetsLn 7$137K
Total revenueLn 12$5.1M
Assets in detailPt X, end of year
CashLn 1$20K
SavingsLn 2$750K
Cash and savings togetherLn 1–2$771K
InvestmentsLn 11–13$3.9M
Land, buildings, equipmentLn 10c$8.9M
Total assetsLn 16$14.2M
LiabilitiesLn 26$697K
Net assetsLn 32$13.5M
OperationsPt I, VI
EmployeesI 552
VolunteersI 6250
Fiscal year endsHeaderAugust
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
LineStart FY22End FY22
Cash and savingsLn 1–2$2.3M$771K
InvestmentsLn 11–13$4.1M$3.9M
Land, buildings, equipmentLn 10c$7.3M$8.9M
Total assetsLn 16$14.0M$14.2M
LiabilitiesLn 26$986K$697K
Net assetsLn 32$13.0M$13.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$175K$122K$35K$18K
Other salaries and wagesLn 7$1.8M$1.4M$224K$147K
Pension plan contributionsLn 8$8K$6K$1K$640
Other employee benefitsLn 9$136K$107K$18K$11K
Payroll taxesLn 10$178K$140K$23K$15K
Investment management feesLn 11f$29K$29K
Other fees for servicesLn 11g$128K$74K$54K
Advertising and promotionLn 12$183K$141K$19K$22K
Office expensesLn 13$92K$72K$12K$8K
OccupancyLn 16$194K$179K$2K$14K
TravelLn 17$18K$4K$11K$3K
Conferences, conventions and meetingsLn 19$7K$7K
InterestLn 20$15K$15K
Depreciation, depletion and amortizationLn 22$235K$228K$844$6K
InsuranceLn 23$53K$46K$4K$2K
Other expenses (24a–d)Ln 24$414K$359K$21K$34K
All other expensesLn 24e$83K$52K$12K$19K
Total functional expensesLn 25$3.7M$3.0M$467K$300K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $4.9M$4.6M$314K$16.4M 990 PDF
FY2024 $4.5M$4.4M$96K$15.9M 990 PDF
FY2023 $5.7M$4.1M$1.6M$15.2M 990 PDF
FY2022 Viewing $5.1M$3.7M$1.4M$13.5M 990 PDF
FY2021 $6.4M$3.2M$3.1M$13.0M 990 PDF
FY2020 $3.8M$3.2M$606K$9.6M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2022 990 (4 parts)
Part VIII · Statement of revenue $5,111,896 across 11 lines filed
Lines not itemized here account for $17,469 of total revenue; see the IRS return.
VIII-1a Federated campaigns$23,814
VIII-1c Fundraising events$55,307
VIII-1e Government grants$540,908
VIII-1f All other contributions, gifts and grants$4,317,052
VIII-1g Noncash contributions (included above)$121,484
VIII-1h Total contributions, gifts and grants$4,937,081
VIII-3 Investment incomeExcluded from tax $74,351$74,351
VIII-7 Net gain or loss on sales of assetsExcluded from tax $136,544$136,544
VIII-8 Net income from fundraising eventsExcluded from tax −$54,332−$54,332
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $783$783
VIII-12 Total revenueRelated to mission $18,252 · Unrelated business $0 · Excluded from tax $156,563$5,111,896
Part IX · Statement of functional expenses $3,748,045 across 17 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $122,500 · Management $35,000 · Fundraising $17,500$175,000
IX-7 Other salaries and wagesPrograms $1,428,693 · Management $224,225 · Fundraising $147,001$1,799,919
IX-8 Pension plan contributionsPrograms $6,031 · Management $1,008 · Fundraising $640$7,679
IX-9 Other employee benefitsPrograms $107,112 · Management $17,900 · Fundraising $11,359$136,371
IX-10 Payroll taxesPrograms $139,696 · Management $23,345 · Fundraising $14,815$177,856
IX-11f Investment management feesManagement $29,015$29,015
IX-11g Other fees for servicesPrograms $73,832 · Management $54,022$127,854
IX-12 Advertising and promotionPrograms $141,422 · Management $18,988 · Fundraising $22,405$182,815
IX-13 Office expensesPrograms $71,995 · Management $12,031 · Fundraising $7,635$91,661
IX-16 OccupancyPrograms $178,947 · Management $1,931 · Fundraising $13,518$194,396
IX-17 TravelPrograms $4,162 · Management $11,140 · Fundraising $2,928$18,230
IX-19 Conferences, conventions and meetingsPrograms $7,077$7,077
IX-20 InterestPrograms $15,100$15,100
IX-22 Depreciation, depletion and amortizationPrograms $228,123 · Management $844 · Fundraising $5,907$234,874
IX-23 InsurancePrograms $46,304 · Management $4,076 · Fundraising $2,287$52,667
IX-24 Other expenses (24a–d)Programs $358,921 · Management $20,846 · Fundraising $34,384$414,151
IX-24e All other expensesPrograms $51,621 · Management $12,333 · Fundraising $19,426$83,380
IX-25 Total functional expensesPrograms $2,981,536 · Management $466,704 · Fundraising $299,805$3,748,045
Part X · Balance sheet $14,166,743 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $39,311$20,118
X-2 Savings and temporary cash investmentsStart of year $2,244,984$750,426
X-3 Pledges and grants receivableStart of year $245,655$583,260
X-8 Inventories for sale or useStart of year $6,085$7,313
X-9 Prepaid expenses and deferred chargesStart of year $39,407$46,431
X-10c Land, buildings and equipment, netStart of year $7,319,433$8,862,871
X-11 Publicly traded securitiesStart of year $4,025,213$3,832,363
X-12 Other securitiesStart of year $55,037$63,961
X-16 Total assetsStart of year $13,975,125$14,166,743
X-17 Accounts payable and accrued expensesStart of year $546,974$327,391
X-26 Total liabilitiesStart of year $986,386$697,067
X-27 Net assets without donor restrictionsStart of year $7,393,263$10,111,055
X-28 Net assets with donor restrictionsStart of year $5,595,476$3,358,621
X-32 Total net assets or fund balancesStart of year $12,988,739$13,469,676
X-33 Total liabilities and net assetsStart of year $13,975,125$14,166,743
Part XI · Reconciliation of net assets $13,469,676 net assets at year end
XI-1 Total revenue$5,111,896
XI-2 Total expenses$3,748,045
XI-3 Revenue less expenses$1,363,851
XI-4 Net assets at start of year$12,988,739
XI-5 Net unrealized gains (losses) on investments−$882,914
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$13,469,676

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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