Inspiring Minds FY2021 filing

Tax-deductible

Warren, OH501(c)(3)Recreation & SportsEIN 26-1429323

To engage inspire and empower youth to reach their full potential through education and exposure to life changing experiences

501(c)(3) charity; gifts are tax-deductible.
84¢ of each $1 spent went to programs.
$164K 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

FY2021 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $449K a year · 23% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
84%
of spending
Looks good: 84% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$164K
to officers and key staff · 13% of spending
Looks good: pay to officers and key staff is 13% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
5 mo
of spending, in cash
Looks good: 5.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
6
named funders · $243K
Looks good: 6 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$1.3M
36% of total assets
Looks good: liabilities are 36% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.8M
+16% vs prior year
Spent
$1.2M
To programs
84%
Net assets
$2.3M
By yearFY2020–FY2024
Revenue
$1.8M
FY2021▲ +16%
Revenue by fiscal year
FY2020$1.5M
FY2021$1.8M
FY2022$1.7M
FY2023$2.8M
FY2024$2.2M
Expenses
$1.2M
FY2021▲ +29%
Expenses by fiscal year
FY2020$966K
FY2021$1.2M
FY2022$1.4M
FY2023$1.7M
FY2024$2.3M
Net assets
$2.3M
FY2021▲ +29%
Net assets by fiscal year
FY2020$1.8M
FY2021$2.3M
FY2022$2.6M
FY2023$3.7M
FY2024$3.5M

From the FY2021 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 2011.

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

Where the money goes

84 cents of each dollar spent went to programs.

Program services 84% · $1.0M Management & general 16% · $202K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

9 people listed on the 990; $164K paid to officers and key staff.

Part VII, Section A · reportable compensation
$163,776Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Deryck Toles’s $185K as CEO is at the 79th percentile of top reported officer pay among 1842 $1–10M recreation & sports 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 · 1 named individual · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Deryck Toles$185,135$171,886$159,776$163,776$139,968

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.

See Inspiring Minds executive salaries →

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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

Empowers youth through education and life-changing experiences to reach their full potential.

Provided by the organization

This section is blank until Inspiring Minds claims this page.

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2 program services account for $1.0M of program spending, described in the organization's own filed words · FY2021.
01

After school program to inspire youth to reach their full potential through education and real life experiences. During the 2020-21 school year, 50 high school students and 100 students in grade k-8 benefited from the program.

$622Kprogram expense
02

SUMMER ENRICHMENT PROGRAM (SEP) TO PROVIDE WARREN OHIO STUDENTS WITH A ROBUST EDUCATIONAL EXPERIENCE AND AN OPPORTUNITY TO PARTICIPATE IN SPORTS ACTIVITIES, ART EXPLORATION, COMMUNITY SERVICE, SWIMMING LESSONS, STEM DISCIPLINES, AND LITERACY WORKSHOPS. IN 2021, 250 STUDENTS PARTICIPATED IN THE PROGRAM.

$421Kprogram 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 · FY2024
See all 6 funders →

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$1.8M
Ln 12
Gifts and grantsLn 1h$1.6M
Other incomeLn 4–11$68K
Investment incomeLn 3$53K
Money outPt IX
$1.2M
Ln 25
Programscol B$1.0M
Managementcol C$202K
Owns and owesPt X
$2.3M
net assets · Ln 32
Cash and savingsLn 1–2$542K
Total assetsLn 16$3.7M
LiabilitiesLn 26$1.3M
PeoplePt VI, VII
9
listed · VII A
PaidVII A1
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.6M
Government grantsLn 1e$384K
Noncash giftsLn 1g$240K
Fundraising eventsLn 1c$78K
Fees for servicesLn 2g$40K
Investment incomeLn 3$53K
Other incomeLn 4–11$68K
Gains on assetsLn 7$8K
Total revenueLn 12$1.8M
Assets in detailPt X, end of year
CashLn 1$542K
SavingsLn 2$0
Cash and savings togetherLn 1–2$542K
InvestmentsLn 11–13$1.1M
Land, buildings, equipmentLn 10c$1.8M
Other assetsLn 15$198K
Total assetsLn 16$3.7M
LiabilitiesLn 26$1.3M
Net assetsLn 32$2.3M
OperationsPt I, VI
EmployeesI 569
VolunteersI 655
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$754K$542K
InvestmentsLn 11–13$611K$1.1M
Land, buildings, equipmentLn 10c$1.2M$1.8M
Total assetsLn 16$2.7M$3.7M
LiabilitiesLn 26$856K$1.3M
Net assetsLn 32$1.8M$2.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$1K$1K
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$172K$43K$129K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$529K$529K
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$12K$12K
Payroll taxesLn 10$56K$48K$9K
Management feesLn 11a$0
Legal feesLn 11b$392$392
Accounting feesLn 11c$21K$21K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$10K$10K
Other fees for servicesLn 11g$11K$11K
Advertising and promotionLn 12$2K$2K
Office expensesLn 13$22K$16K$6K
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$66K$53K$14K
TravelLn 17$76K$63K$12K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$54K$54K
InsuranceLn 23$12K$12K$720
Other expenses (24a–d)Ln 24$193K$193K
All other expensesLn 24e$8K$7K$200
Total functional expensesLn 25$1.2M$1.0M$202K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $2.2M$2.3M−$171K$3.5M 990 PDF
FY2023 $2.8M$1.7M$1.0M$3.7M 990 PDF
FY2022 $1.7M$1.4M$274K$2.6M 990 PDF
FY2021 Viewing $1.8M$1.2M$529K$2.3M 990 PDF
FY2020 $1.5M$966K$568K$1.8M 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 FY2021 990 (4 parts)
Part VIII · Statement of revenue $1,773,478 across 12 lines filed
VIII-1c Fundraising events$78,280
VIII-1e Government grants$383,504
VIII-1f All other contributions, gifts and grants$1,151,060
VIII-1g Noncash contributions (included above)$240,006
VIII-1h Total contributions, gifts and grants$1,612,844
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $39,964$39,964
VIII-3 Investment incomeExcluded from tax $44,210$44,210
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assetsRelated to mission −$2,369 · Excluded from tax $10,844$8,475
VIII-8 Net income from fundraising eventsExcluded from tax $67,985$67,985
VIII-12 Total revenueRelated to mission $37,595 · Excluded from tax $123,039$1,773,478
Part IX · Statement of functional expenses $1,244,576 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individualsPrograms $1,000$1,000
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffPrograms $43,078 · Management $129,233$172,311
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $528,636$528,636
IX-8 Pension plan contributions$0
IX-9 Other employee benefitsPrograms $12,050$12,050
IX-10 Payroll taxesPrograms $47,524 · Management $8,556$56,080
IX-11a Management fees$0
IX-11b Legal feesManagement $392$392
IX-11c Accounting feesManagement $21,112$21,112
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management feesManagement $9,717$9,717
IX-11g Other fees for servicesPrograms $11,422$11,422
IX-12 Advertising and promotionPrograms $1,812$1,812
IX-13 Office expensesPrograms $15,693 · Management $5,999$21,692
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 OccupancyPrograms $52,649 · Management $13,682$66,331
IX-17 TravelPrograms $63,254 · Management $12,435$75,689
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $53,678$53,678
IX-23 InsurancePrograms $11,730 · Management $720$12,450
IX-24 Other expenses (24a–d)Programs $192,642$192,642
IX-24e All other expensesPrograms $7,362 · Management $200$7,562
IX-25 Total functional expensesPrograms $1,042,530 · Management $202,046 · Fundraising $0$1,244,576
Part X · Balance sheet $3,657,119 assets, 19 lines filed
Asset lines not itemized here account for $4,592; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $754,428$542,051
X-2 Savings and temporary cash investments$0
X-3 Pledges and grants receivable$0
X-4 Accounts receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred chargesStart of year $1,100$1,300
X-10c Land, buildings and equipment, netStart of year $1,166,397$1,784,231
X-11 Publicly traded securitiesStart of year $610,932$1,105,645
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assetsStart of year $21,795$20,890
X-15 Other assetsStart of year $70,396$198,410
X-16 Total assetsStart of year $2,670,841$3,657,119
X-25 Other liabilitiesStart of year $155,614$189,586
X-26 Total liabilitiesStart of year $856,484$1,313,860
X-27 Net assets without donor restrictionsStart of year $1,814,357$2,337,259
X-28 Net assets with donor restrictions$6,000
X-32 Total net assets or fund balancesStart of year $1,814,357$2,343,259
X-33 Total liabilities and net assetsStart of year $2,670,841$3,657,119
Part XI · Reconciliation of net assets $2,343,259 net assets at year end
XI-1 Total revenue$1,773,478
XI-2 Total expenses$1,244,576
XI-3 Revenue less expenses$528,902
XI-4 Net assets at start of year$1,814,357
XI-10 Net assets at end of year$2,343,259

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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