A B L E Foundation INC FY2022 filing

Tax-deductible

La Crescent, MN501(c)(3)Since 1993Foundations & GrantmakersEIN 41-1751499

Furnish financial support for able, INC., a residential care provider for people with developmental disabilities and related brain injuries in houston county, MN.

501(c)(3) charity; gifts are tax-deductible.
95¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · 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
3 of 5
filings with a surplus
Average deficit $163K a year · 218% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
95%
of spending
Looks good: 95% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
26 mo
of spending, in cash
Looks good: 25.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $10K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$71K
7% of total assets
Looks good: liabilities are 7% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$81K
-16% vs prior year
Spent
$40K
To programs
95%
Net assets
$930K
By yearFY2020–FY2024
Revenue
$81K
FY2022▼ -16%
Revenue by fiscal year
FY2020$101K
FY2021$97K
FY2022$81K
FY2023$94K
FY2024$569
Expenses
$40K
FY2022▼ -28%
Expenses by fiscal year
FY2020$81K
FY2021$56K
FY2022$40K
FY2023$697K
FY2024$313K
Net assets
$930K
FY2022▼ -5%
Net assets by fiscal year
FY2020$850K
FY2021$979K
FY2022$930K
FY2023$326K
FY2024$14K

From the FY2022 Form 990 · see the original

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You’re viewing the FY2022 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 May 1994.

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

Where the money goes

95 cents of each dollar spent went to programs.

Program services 95% · $38K Management & general 2% · $896 Fundraising 3% · $1K

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

Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Secretary/Treasurer
$0Pt VII · Sec A
See A B L E Foundation INC 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 15aNo

Programs and updates

Provides financial aid for residential care for people with developmental disabilities.

Provided by the organization

This section is blank until A B L E Foundation INC claims this page.

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1 program service account for $38K of program spending, described in the organization's own filed words · FY2022.
01

Financial support of able, inc., including rental houses for people with developmental disabilities.

$38Kprogram 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 · FY2023
Total grants receivedfrom 2 funders$10K

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$81K
Ln 12
Gifts and grantsLn 1h$42K
Other incomeLn 4–11$39K
Investment incomeLn 3$582
Money outPt IX
$40K
Ln 25
Programscol B$38K
Managementcol C$896
Fundraisingcol D$1K
Owns and owesPt X
$930K
net assets · Ln 32
Cash and savingsLn 1–2$86K
Total assetsLn 16$1.0M
LiabilitiesLn 26$71K
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$42K
Fundraising eventsLn 1c$9K
Investment incomeLn 3$582
Other incomeLn 4–11$39K
Total revenueLn 12$81K
Assets in detailPt X, end of year
CashLn 1$45K
SavingsLn 2$41K
Cash and savings togetherLn 1–2$86K
InvestmentsLn 11–13$595K
Land, buildings, equipmentLn 10c$320K
Total assetsLn 16$1.0M
LiabilitiesLn 26$71K
Net assetsLn 32$930K
OperationsPt I, VI
EmployeesI 50
VolunteersI 65
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$121K$86K
InvestmentsLn 11–13$620K$595K
Land, buildings, equipmentLn 10c$316K$320K
Total assetsLn 16$1.1M$1.0M
LiabilitiesLn 26$78K$71K
Net assetsLn 32$979K$930K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
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$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$0
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$0
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$550$550
Lobbying feesLn 11d$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$283$283
Office expensesLn 13$1K$346$923
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$0
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$3K$3K
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$14K$14K
InsuranceLn 23$0
Other expenses (24a–d)Ln 24$21K$21K
All other expensesLn 24e$0
Total functional expensesLn 25$40K$38K$896$1K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $569$313K−$312K$14K 990 PDF
FY2023 $94K$697K−$604K$326K 990 PDF
FY2022 Viewing $81K$40K$41K$930K 990 PDF
FY2021 $97K$56K$41K$979K 990 PDF
FY2020 $101K$81K$20K$850K 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 FY2022 990 (4 parts)
Part VIII · Statement of revenue $81,298 across 7 lines filed
VIII-1c Fundraising events$8,548
VIII-1f All other contributions, gifts and grants$33,478
VIII-1h Total contributions, gifts and grants$42,026
VIII-3 Investment incomeExcluded from tax $582$582
VIII-6 Net rental income or loss$28,126
VIII-8 Net income from fundraising events$10,564
VIII-12 Total revenueExcluded from tax $582$81,298
Part IX · Statement of functional expenses $39,966 across 30 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
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 staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$0
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$0
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting feesManagement $550$550
IX-11d Lobbying fees$0
IX-11f Investment management fees$0
IX-11g Other fees for services$0
IX-12 Advertising and promotionFundraising $283$283
IX-13 Office expensesManagement $346 · Fundraising $923$1,269
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 Occupancy$0
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 InterestPrograms $2,833$2,833
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $14,406$14,406
IX-23 Insurance$0
IX-24 Other expenses (24a–d)Programs $20,625$20,625
IX-24e All other expenses$0
IX-25 Total functional expensesPrograms $37,864 · Management $896 · Fundraising $1,206$39,966
Part X · Balance sheet $1,000,783 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $70,789$44,784
X-2 Savings and temporary cash investmentsStart of year $50,451$40,932
X-10c Land, buildings and equipment, netStart of year $315,545$320,345
X-11 Publicly traded securitiesStart of year $620,069$594,722
X-16 Total assetsStart of year $1,056,854$1,000,783
X-26 Total liabilitiesStart of year $78,193$71,137
X-32 Total net assets or fund balancesStart of year $978,661$929,646
X-33 Total liabilities and net assetsStart of year $1,056,854$1,000,783
Part XI · Reconciliation of net assets $929,646 net assets at year end
XI-1 Total revenue$81,298
XI-2 Total expenses$39,966
XI-3 Revenue less expenses$41,332
XI-4 Net assets at start of year$978,661
XI-5 Net unrealized gains (losses) on investments−$90,347
XI-10 Net assets at end of year$929,646

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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