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Honours INC FY2024 filing

Tax-deductible

Slinger, WI501(c)(3)EducationEIN 39-1430131

To provide higher education scholarships

501(c)(3) charity; gifts are tax-deductible.
74¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · 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
5 of 5
filings with a surplus
Average surplus $227K a year · 41% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
74%
of spending
Fine: 74% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
6 mo
of spending, in cash
Looks good: 6.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $12K
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
13
of 13 voting members
Looks good: 13 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$460K
-0.5% vs prior year
Spent
$328K
To programs
74%
Net assets
$6.2M
By yearFY2021–FY2025
Revenue
$460K
FY2024▼ -0.5%
Revenue by fiscal year
FY2021$856K
FY2022$547K
FY2023$462K
FY2024$460K
FY2025$470K
Expenses
$328K
FY2024▼ -7%
Expenses by fiscal year
FY2021$343K
FY2022$301K
FY2023$352K
FY2024$328K
FY2025$336K
Net assets
$6.2M
FY2024▲ +15%
Net assets by fiscal year
FY2021$5.5M
FY2022$5.1M
FY2023$5.4M
FY2024$6.2M
FY2025$6.7M

From the FY2024 Form 990 (year ending July 2024) · see the original

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Status and standing

Is it real, and can you give to it?

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2025 (typical filing lag)
Legal name (IRS)Hdr · item CHonours INC
EINHdr · item D39-1430131
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFJul 1983
Latest filingForm 990FY2025 · Form 990
Principal addressHdr · item CSlinger, WI
NTEE classificationIRS BMFEducation (B82Z)
WebsiteHdr · item Jwww.honoursinc.com

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.74 Management & general $0.16 Fundraising $0.10
Program services74%$244K
Management & general16%$52K
Fundraising10%$32K
Total functional expensesLn 25$328K

Financial health

Is it on solid ground?

Program efficiency
74%
of spending reaches programs
Operating runway
242.9mo
months of highly liquid reserves at operating expense rate
Surplus margin
+29%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Total assets
$6.2M
FY2024▲ +15%
Total assets by fiscal year
FY2021$5.5M
FY2022$5.1M
FY2023$5.4M
FY2024$6.2M
FY2025$6.7M
Total liabilities
$0
FY2024
Total liabilities by fiscal year
FY2021$0
FY2022$0
FY2023$0
FY2024$0
FY2025$0
Revenue less expensesPt I · Ln 19$132K
Total assetsPt X · Ln 16$6.2M
Program-expense ratioPt IX · col B74%
Voting members of governing bodyPt I · Ln 313
Independent voting membersPt I · Ln 413

Balance Sheet

Part X · end of year
CashLn 1$171K
Total assetsLn 16$6.2M
Total liabilitiesLn 26$0
Total net assetsLn 32$6.2M
Months of cash on handcomputed6.2

Statement of Revenue

Part VIII
Contributions & grants$288K · 63%
Investment income$171K · 37%
Contributions & grants63%$288K
Investment income37%$171K
Total revenueLn 12$460K

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $6.2M · Operating expenses (Pt IX) $328K · Less non-cash grants $21K · Cash operating expenses/yr $306K
242.9 months
Where the money goes
Program services
Program services $244K · Total expenses $328K
74%
Management & General
Management & general $52K · Total expenses $328K
16%
Fundraising
Fundraising $32K · Total expenses $328K
10%
Cost to raise $1
Fundraising expense (3-yr avg) $28K · Solicited contributions (3-yr avg) $308K
$0.09 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $288K · Total revenue $460K
63%
Government reliance
Government grants — · Total revenue $460K
—
Earned-income share
Program service revenue $0 · Total revenue $460K
0%
Investment reliance
Investment income $171K · Total revenue $460K
+37%
Program self-sufficiency
Program service revenue $0 · Total expenses $328K
0%
Growth & trend
Revenue growth (YoY)
This year $460K · Prior year $462K
-0.5%
Net-asset trend (YoY)
End of year $6.2M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $460K · Expenses $328K
+29%
Liabilities-to-Assets
Total liabilities — · Total assets $6.2M
—
Net-asset ratio
Net assets $6.2M · Total assets $6.2M
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $6.0M · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $6.2M
97%
People & payroll
Highest Reported Total Compensation
Individual Ken Reiser · Reported title PRESIDENT · Highest reported compensation $0 · Total expenses $328K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $328K
—
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 74%——
Overhead ratio 16%——
Fundraising cost ratio 11%——
Revenue growth -0.5%——
Investment management fee ratio 0.6%——
Accounting fee ratio 2%——

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.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Ken Reiser
President
$0Pt VII · Sec A
Kristi Brooks
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
Rick Gundrum
Treasurer
$0Pt VII · Sec A
Amy Schlicht
Director
$0Pt VII · Sec A
Dan Breuer
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Honours INC executive salaries →

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Governance & Policies

Part VI
  • 13Voting board membersPt VI · Ln 1a
  • 13Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aNo
  • Whistleblower policyPt VI · Ln 13No
  • Document retention policyPt VI · Ln 14No
  • Top official’s pay independently reviewedPt VI · Ln 15aNo
  • Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

Awards scholarships to help students pursue higher education.

Provided by the organization

This section is blank until Honours INC claims this page.

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Mission & Programs · Part III

Where the work happens

1 program service account for $244K of program spending, described in the organization's own filed words · FY2023.
01

To provide students with scholarships to attend post-secondary educational institutions

$244Kprogram 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 · received and paid
Grants received · FY2024
West Bend Community Foundation INCFY2024$6K
Cigna FoundationFY2024$2K
Community Foundation INCFY2024$2K
Baird Foundation INCFY2024$2K
Total grants receivedfrom 4 funders$12K
See all 4 funders →
Grants paid · 5 grants · $1.2M · 2020–2024
Unitemized GrantFY2024$249,200
Unitemized GrantFY2023$244,275
Unitemized GrantFY2022$267,200
Unitemized GrantFY2021$212,550
Unitemized GrantFY2020$264,450

Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2025 Latest $470K$336K+2% 990 PDF
FY2024 Viewing $460K$328K-0.5% 990 PDF
FY2023 $462K$352K-16% 990 PDF
FY2022 $547K$301K-36% 990 PDF
FY2021 $856K$343K 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

Full filing: Form 990 for FY2024

Every line we hold from the return, cited to its Part and line.
Part IX · Statement of functional expenses $327,953 across 9 lines filed
IX-2 Grants to domestic individualsPrograms $244,275$244,275
IX-11c Accounting feesManagement $7,070$7,070
IX-11f Investment management feesManagement $38,933$38,933
IX-11g Other fees for servicesManagement $6,093$6,093
IX-12 Advertising and promotionFundraising $24,597$24,597
IX-13 Office expensesManagement $79 · Fundraising $2,383$2,462
IX-14 Information technologyFundraising $448$448
IX-22 Depreciation, depletion and amortizationFundraising $2,200$2,200
IX-23 InsuranceFundraising $1,875$1,875
IX-25 Total functional expensesPrograms $244,275 · Management $52,175 · Fundraising $31,503$327,953

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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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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