Simsbury Abc Program INC EIN 23-7306464 Form 990 (PDF) Claim this org

Simsbury Abc Program INC FY2024 filing

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Form 990 for the fiscal year ending June 2024 (IRS tax year 2023).


Houses, feeds, and tutors minority young men to prepare them for college. For fiscal year 2024 it reported $126K in revenue, $153K in expenses, and $669K in net assets.Pt I

Type
Public charity (501(c)(3)) · Nonprofit
Location
Simsbury, CT
Website
simsburyabetterchance.org
Filings
5 on file (2021–2024)
Revenue
$126KFY2024
Expenses
$153K
Net assets
$669K
People
3
Filings
5
Updates
0
More identity details & actions ⌄
EIN  23-7306464 Public charity (501(c)(3)) Simsbury, CT
Form 990 (PDF)
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Size
$100K–1M
What they do
Houses, feeds, and tutors minority young men to prepare them for college.
Leadership
Robert Pearce · President
Money in and out
$126K revenue, $153K expenses
Bottom line
79% program efficiency
Where the money goes · FY2024
Total revenue
$126K
Pt VIII · Ln 12
Total expenses
$153K
Pt IX · Ln 25
Net assets
$669K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$27K
Where spending went · Part IX cols B–D
Program services $0.79 Management & general $0.19 Fundraising $0.02
Program efficiency
79%
of spending reaches programs
Operating runway
28.6mo
months of highly liquid reserves at operating expense rate
Surplus margin
-21%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$126K
FY2024▼ -7%
Expenses
$153K
FY2024▼ -1%
Total assets
$669K
FY2024▼ -1%
Total liabilities
$0
FY2024
Revenue less expensesPt I · Ln 19−$27K
Total assetsPt X · Ln 16$669K
Program-expense ratioPt IX · col B79%
Voting members of governing bodyPt I · Ln 326
Independent voting membersPt I · Ln 426

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CSimsbury Abc Program INC
EINHdr · item D23-7306464
Principal addressHdr · item CSimsbury, CT
WebsiteHdr · item Jsimsburyabetterchance.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MCT
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFNonprofit
Ruling yearIRS BMFSep 1973

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a26
Independent voting membersPt VI · Ln 1b26
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
President
$0Pt VII · Sec A
Past President
$0Pt VII · Sec A
$0Pt VII · Sec A
See Simsbury Abc Program INC executive salaries →

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Mission & Programs · Part III

Where the work happens

1 program service account for $153K of program spending, described in the organization's own filed words · FY2023.
01

To provide room, board, medical care, and tuition to minority young men in order to enroll them in Simsbury High School in preparation to attend college.

$153Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants100%$126K
Investment income$200
Total revenueLn 12$126K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.79 Management & general $0.19 Fundraising $0.02
Program services79%$120K
Management & general19%$28K
Fundraising2%$4K
Total functional expensesLn 25$153K

Balance Sheet

Part X · end of year
CashLn 1$93K
Total assetsLn 16$669K
Total liabilitiesLn 26$0
Total net assetsLn 32$669K
Months of cash on handcomputed7.3

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $363K · Operating expenses/yr $153K
28.6 months
Where the money goes
Program services
Program services $120K · Total expenses $153K
79%
Management & General
Management & general $28K · Total expenses $153K
19%
Fundraising
Fundraising $4K · Total expenses $153K
2%
Cost to raise $1
Fundraising expense (3-yr avg) $3K · Solicited contributions (3-yr avg) $137K
$0.03 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $126K · Total revenue $126K
100%
Government reliance
Government grants — · Total revenue $126K
Earned-income share
Program service revenue $0 · Total revenue $126K
0%
Investment reliance
Investment income $200 · Total revenue $126K
+0.2%
Program self-sufficiency
Program service revenue $0 · Total expenses $153K
0%
Growth & trend
Revenue growth (YoY)
This year $126K · Prior year $135K
-7%
Net-asset trend (YoY)
End of year $669K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $126K · Expenses $153K
-21%
Liabilities-to-Assets
Total liabilities — · Total assets $669K
Net-asset ratio
Net assets $669K · Total assets $669K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $271K · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $669K
40%
People & payroll
Highest Reported Total Compensation
Individual Robert Pearce · Reported title President · Highest reported compensation $0 · Total expenses $153K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $38K · Total expenses $153K
25%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 79%
Overhead ratio 19%
Fundraising cost ratio 3%
Revenue growth -7%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2024
See all 5 funders →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$150K revenue · ⤓ 990 PDF
FY2024$126K revenue · viewing · ⤓ 990 PDF
FY2023$135K revenue · ⤓ 990 PDF
FY2022$151K revenue · ⤓ 990 PDF
FY2021$115K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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