Higher Power INC FY2023 filing

Waukee, IA · Religious organization · Religion

✓ Tax-deductible
Revenue
$17K
+15% vs prior year
Net assets
$22K
By yearFY2020–FY2024
Revenue
$17K
FY2023▲ +15%
Revenue by fiscal year
FY2020$38K
FY2021$13K
FY2022$15K
FY2023$17K
FY2024$19K
Net assets
$22K
FY2023▲ +8%
Net assets by fiscal year
FY2020$16K
FY2021$18K
FY2022$20K
FY2023$22K
FY2024$23K

From the FY2023 Form 990 · see the original

You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

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 FY2024 (typical filing lag)
Legal name (IRS)Hdr · item CHigher Power INC
EINHdr · item D39-1874946
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFNov 2004
Latest filingForm 990FY2024 · Form 990-EZ
Principal addressHdr · item CWaukee, IA
NTEE classificationIRS BMFReligion (X21)

Financial health

Is it on solid ground?

Operating runway
17.7mo
months of highly liquid reserves at operating expense rate
Surplus margin
+16%
revenue over expenses, this year
Donor-funded
69%
of revenue is gifts & grants

Summary of the Filing

Part I · fiscal year 2023 · Form 990-EZ
Revenue less expensesPt I · Ln 19—
Total assetsPt X · Ln 16—
Program-expense ratioPt IX · col B—
Voting members of governing bodyPt I · Ln 3pending
Independent voting membersPt I · Ln 4pending

Balance Sheet

Part X · end of year
CashLn 1—
Total assetsLn 16—
Total liabilitiesLn 26—
Total net assetsLn 32$22K

Statement of Revenue

Part VIII
Other revenue100%$17K
Total revenueLn 12$17K

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $22K · Operating expenses/yr $15K
17.7 months
Where the money goes
Program services
not reported
Management & General
not reported
Fundraising
not reported
Cost to raise $1
not reported
Where the money comes from
Contribution dependence
Contributions & grants $12K · Total revenue $17K
69%
Government reliance
not reported
Earned-income share
Program service revenue — · Total revenue $17K
—
Investment reliance
Investment income — · Total revenue $17K
—
Program self-sufficiency
Program service revenue — · Total expenses $15K
Rests on the self-reported EZ program figure
Growth & trend
Revenue growth (YoY)
This year $17K · Prior year $15K
Prior-year revenue below floor — showing dollar change
Net-asset trend (YoY)
End of year $22K · Beginning of year $20K
+8%
Balance sheet
Surplus Margin
Revenue $17K · Expenses $15K
+16%
Liabilities-to-Assets
Total liabilities — · Total assets $22K
—
Net-asset ratio
Net assets $22K · Total assets $22K
100%
People & payroll
Highest Reported Total Compensation
Individual Steve Michelson · Reported title President · Highest reported compensation $0 · Total expenses $15K
0%
Personnel share
Salaries & benefits — · Total expenses $15K
Form 990-EZ bundles compensation — not comparable to full-990 filers
Peer comparison

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

MetricThis orgPeer medianPercentile
Revenue growth 15%——

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
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
See Higher Power INC executive salaries →

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Governance & Policies

Part VI
  • –Voting board membersPt VI · Ln 1a
  • –Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aNot reported
  • Whistleblower policyPt VI · Ln 13Not reported
  • Document retention policyPt VI · Ln 14Not reported
  • Top official’s pay independently reviewedPt VI · Ln 15aNot reported
  • Family or business ties among leadersPt VI · Ln 2Not reported

Mission and programs

What it does.

A religious organization based in Waukee, IA.

Provided by the organization

This section is blank until Higher Power INC claims this page.

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Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2024 Latest $19K—+8% 990 PDF
FY2023 Viewing $17K—+15% 990 PDF
FY2022 $15K—+12% 990 PDF
FY2021 $13K—-64% 990 PDF
FY2020 $38K— 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

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) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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