Progress INC EIN 41-1690300

Progress INC FY2021 filing

EIN  41-1690300 Public charity (501(c)(3)) Pipestone, MN
Form 990 (PDF)
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Size
$100K–1M
What they do
Supports adults with developmental disabilities to gain independence through training and community integration.
Leadership
Chris Hulstein · Chairperson
Money in and out
$647K revenue, $469K expenses
Bottom line
72% program efficiency

Supports adults with developmental disabilities to gain independence through training and community integration. For fiscal year 2021 it reported $647K in revenue, $469K in expenses, and $1.0M in net assets.Pt I

Where the money goes · FY2021
Total revenue
$647K
Pt VIII · Ln 12
Total expenses
$469K
Pt IX · Ln 25
Net assets
$1.0M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $178K
Where spending went · Part IX cols B–D
Program services $0.72 Management & general $0.28
Program efficiency
72%
of spending reaches programs
Operating runway
15.3mo
months of highly liquid reserves at operating expense rate
Surplus margin
+27%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2021 · Form 990
Revenue
$647K
FY2021▲ +74%
Expenses
$469K
FY2021▲ +23%
Total assets
$1.0M
FY2021▲ +21%
Total liabilities
$7K
FY2021▼ -11%
Total revenue
$647K
Pt VIII · Ln 12
Total expenses
$469K
Pt IX · Ln 25
Net assets
$1.0M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$178K
Total assetsPt X · Ln 16$1.0M
Program-expense ratioPt IX · col B72%
Voting members of governing bodyPt I · Ln 39
Independent voting membersPt I · Ln 49
Mission & Programs · Part III

Where the work happens

1 program service account for $328K of program spending, described in the organization's own filed words · FY2021.
01

Progress, inc. Is an organization whose purpose is to provide day training and habilitation services to adult individuals with developmental disabilities. Seervices provided include training, supervision, assistance and supported employment, work-related activities or other comm,unity integrated activities related to the person's…

$328Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CProgress INC
EINHdr · item D41-1690300
Principal addressHdr · item CPipestone, MN
WebsiteHdr · item Jwww.progresspipestone.com
Year of formationHdr · item Lpending
State of legal domicileHdr · item MMN
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHuman Services (P80Z)
Ruling yearIRS BMFDec 1991

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a9
Independent voting membersPt VI · Ln 1b9
Conflict-of-interest policyPt VI · Ln 12aYes
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
Chairperson
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Program service revenue$574K · 89%
Contributions & grants$63K · 10%
Investment income$4K · 1%
Other revenue$6K · 1%
Program service revenue89%$574K
Contributions & grants10%$63K
Investment income1%$4K
Other revenue1%$6K
— government grantsLn 1e$63K
Total revenueLn 12$647K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.72 Management & general $0.28
Program services72%$339K
Management & general28%$130K
Total functional expensesLn 25$469K

Balance Sheet

Part X · end of year
CashLn 1$562K
Total assetsLn 16$1.0M
Total liabilitiesLn 26$7K
Total net assetsLn 32$1.0M
Months of cash on handcomputed14.4

Financial Metrics

Form 990 · FY2021 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $600K · Operating expenses/yr $469K
15.3 months
Where the money goes
Program services
Program services $339K · Total expenses $469K
72%
Management & General
Management & general $130K · Total expenses $469K
28%
Fundraising
Fundraising $0 · Total expenses $469K
0%
Cost to raise $1
Fundraising expense (2-yr avg) $0 · Solicited contributions (2-yr avg) $1K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $63K · Total revenue $647K
10%
Government reliance
Government grants $63K · Total revenue $647K
10%
Earned-income share
Program service revenue $574K · Total revenue $647K
89%
Investment reliance
Investment income $4K · Total revenue $647K
+1%
Program self-sufficiency
Program service revenue $574K · Total expenses $469K
122%
Growth & trend
Revenue growth (YoY)
This year $647K · Prior year $372K
+74%
Net-asset trend (YoY)
End of year $1.0M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $647K · Expenses $469K
+27%
Liabilities-to-Assets
Total liabilities — · Total assets $1.0M
Net-asset ratio
Net assets $1.0M · Total assets $1.0M
99%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $38K · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $1.0M
4%
People & payroll
Highest Reported Total Compensation
Individual Chris Hulstein · Reported title CHAIRPERSON · Highest reported compensation $0 · Total expenses $469K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $371K · Total expenses $469K
79%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 72%
Overhead ratio 28%
Fundraising cost ratio 0%
Revenue growth 74%
Accounting fee ratio 1%

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 · FY2023
Total grants receivedfrom 1 funder$25K

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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
FY2024 (Latest)$840K revenue · ⤓ 990 PDF
FY2023$813K revenue · ⤓ 990 PDF
FY2022$685K revenue · ⤓ 990 PDF
FY2021$647K revenue · viewing · ⤓ 990 PDF
FY2020$372K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2021IRS
Classification, formation year, addressIRS Business Master File
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