Spectrum Industries FY2021 filing

Tax-deductible

Decorah, IA501(c)(3)Since 1974EmploymentEIN 42-1232860

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Helping individuals with cognitive disabilities, mental illness, and other barriers to independent living enter the workforce and the community.

501(c)(3) charity; gifts are tax-deductible.
74¢ of each $1 spent went to programs.
$81K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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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
2 of 5
filings with a surplus
Average deficit $60K a year · 7% of revenue · last 5 filings
Concern: a surplus in 2 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
Pay to officers and key staff
$81K
to officers and key staff · 9% of spending
Looks good: pay to officers and key staff is 9% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 1.7 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $5K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.0M
72% of total assets
Worth a look: liabilities are 72% of assets; over 65%.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$732K
+17% vs prior year
Spent
$925K
To programs
74%
Net assets
$386K
By yearFY2020–FY2024
Revenue
$732K
FY2021▲ +17%
Revenue by fiscal year
FY2020$625K
FY2021$732K
FY2022$1.2M
FY2023$603K
FY2024$1.2M
FY2024$671K
Expenses
$925K
FY2021▲ +10%
Expenses by fiscal year
FY2020$838K
FY2021$925K
FY2022$1.1M
FY2023$1.2M
FY2024$697K
FY2024$716K
Net assets
$386K
FY2021▼ -33%
Net assets by fiscal year
FY2020$575K
FY2021$386K
FY2022$501K
FY2023−$93K
FY2024$456K
FY2024$414K

From the FY2021 Form 990 (year ending June 2021) · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Dec 1984.

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

Where the money goes

74 cents of each dollar spent went to programs.

Program services 74% · $682K Management & general 25% · $234K Fundraising 1% · $8K

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

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Who runs it and what they're paid

8 people listed on the 990; $81K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Executive Director
$80,790Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Christopher Miculinich’s $60K as Executive Director is at the 57th percentile of top reported officer pay among 1216 $100K–1M employment 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 · 4 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Mike Meirick—$58,020$97,250$77,500$80,790—
Mike Meirick-Consultant Then—————$71,923
Jeannie Barness—————$69,022
Christopher Miculinich$59,514$6,760————

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.

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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

Helps people with mental illness, disabilities, and addiction find support and resources.

Provided by the organization

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1 program service account for $682K of program spending, described in the organization's own filed words · FY2020.
01

We support adults with disabilities, mental illness, and other barriers to gain independence in work and life. Our focus is independence and community integration. We support clients by building skills and natural supports so that they can succeed independently in their work and daily lives. We train people to gain work and life skills.

$682Kprogram 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
Total grants receivedfrom 1 funder$5K

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$732K
Ln 12
Fees for servicesLn 2g$478K
Gifts and grantsLn 1h$215K
Other incomeLn 4–11$39K
Money outPt IX
$925K
Ln 25
Programscol B$682K
Managementcol C$234K
Fundraisingcol D$8K
Owns and owesPt X
$386K
net assets · Ln 32
Cash and savingsLn 1–2$129K
Total assetsLn 16$1.4M
LiabilitiesLn 26$1.0M
PeoplePt VI, VII
8
listed · VII A
PaidVII A1
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$215K
Government grantsLn 1e$159K
Fees for servicesLn 2g$478K
Other incomeLn 4–11$39K
Total revenueLn 12$732K
Assets in detailPt X, end of year
SavingsLn 2$129K
Cash and savings togetherLn 1–2$129K
Land, buildings, equipmentLn 10c$1.2M
Total assetsLn 16$1.4M
LiabilitiesLn 26$1.0M
Net assetsLn 32$386K
OperationsPt I, VI
EmployeesI 513
VolunteersI 68
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$97K$129K
Land, buildings, equipmentLn 10c$1.3M$1.2M
Total assetsLn 16$1.4M$1.4M
LiabilitiesLn 26$819K$1.0M
Net assetsLn 32$575K$386K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$505K$448K$51K$6K
Pension plan contributionsLn 8$1K$1K
Other employee benefitsLn 9$44K$34K$9K$458
Payroll taxesLn 10$43K$32K$11K$427
Legal feesLn 11b$5K$5K
Accounting feesLn 11c$33K$33K
Other fees for servicesLn 11g$82K$16K$66K
Advertising and promotionLn 12$525$420$105
Office expensesLn 13$27K$22K$4K$1K
Information technologyLn 14$7K$1K$6K
OccupancyLn 16$33K$26K$7K
TravelLn 17$4K$3K$776
Conferences, conventions and meetingsLn 19$1K$1K$359
InterestLn 20$31K$23K$8K
Depreciation, depletion and amortizationLn 22$67K$54K$13K
InsuranceLn 23$14K$3K$11K
Other expenses (24a–d)Ln 24$25K$17K$8K
All other expensesLn 24e$1K$1K
Total functional expensesLn 25$925K$682K$234K$8K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $1.2M$697K$549K$456K 990 PDF
FY2023 $603K$1.2M−$557K−$93K 990 PDF
FY2022 $1.2M$1.1M$115K$501K 990 PDF
FY2021 Viewing $732K$925K−$192K$386K 990 PDF
FY2020 $625K$838K−$214K$575K 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 $732,364 across 6 lines filed
VIII-1e Government grants$158,912
VIII-1f All other contributions, gifts and grants$56,283
VIII-1h Total contributions, gifts and grants$215,195
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $477,819$477,819
VIII-6 Net rental income or lossExcluded from tax $39,350$39,350
VIII-12 Total revenueRelated to mission $477,819 · Unrelated business $0 · Excluded from tax $39,350$732,364
Part IX · Statement of functional expenses $924,540 across 18 lines filed
IX-7 Other salaries and wagesPrograms $448,065 · Management $50,944 · Fundraising $6,055$505,064
IX-8 Pension plan contributionsManagement $1,205$1,205
IX-9 Other employee benefitsPrograms $33,893 · Management $9,348 · Fundraising $458$43,699
IX-10 Payroll taxesPrograms $31,610 · Management $10,679 · Fundraising $427$42,716
IX-11b Legal feesManagement $5,044$5,044
IX-11c Accounting feesManagement $33,077$33,077
IX-11g Other fees for servicesPrograms $16,398 · Management $65,592$81,990
IX-12 Advertising and promotionPrograms $420 · Management $105$525
IX-13 Office expensesPrograms $21,584 · Management $4,047 · Fundraising $1,350$26,981
IX-14 Information technologyPrograms $1,446 · Management $5,784$7,230
IX-16 OccupancyPrograms $26,202 · Management $6,551$32,753
IX-17 TravelPrograms $3,105 · Management $776$3,881
IX-19 Conferences, conventions and meetingsPrograms $1,015 · Management $359$1,374
IX-20 InterestPrograms $23,365 · Management $7,788$31,153
IX-22 Depreciation, depletion and amortizationPrograms $53,776 · Management $13,444$67,220
IX-23 InsurancePrograms $2,852 · Management $11,406$14,258
IX-24 Other expenses (24a–d)Programs $17,329 · Management $7,811$25,140
IX-24e All other expensesPrograms $1,230$1,230
IX-25 Total functional expensesPrograms $682,290 · Management $233,960 · Fundraising $8,290$924,540
Part X · Balance sheet $1,401,511 assets, 12 lines filed
X-2 Savings and temporary cash investmentsStart of year $96,509$128,685
X-4 Accounts receivableStart of year $20,516$59,149
X-9 Prepaid expenses and deferred chargesStart of year $8,506$4,986
X-10c Land, buildings and equipment, netStart of year $1,268,912$1,208,691
X-16 Total assetsStart of year $1,394,443$1,401,511
X-17 Accounts payable and accrued expensesStart of year $63,933$59,770
X-24 Unsecured notes and loans payableStart of year $117,557$185,964
X-26 Total liabilitiesStart of year $819,361$1,015,694
X-27 Net assets without donor restrictionsStart of year $573,200$380,935
X-28 Net assets with donor restrictionsStart of year $1,882$4,882
X-32 Total net assets or fund balancesStart of year $575,082$385,817
X-33 Total liabilities and net assetsStart of year $1,394,443$1,401,511
Part XI · Reconciliation of net assets $385,817 net assets at year end
XI-1 Total revenue$732,364
XI-2 Total expenses$924,540
XI-3 Revenue less expenses−$192,176
XI-4 Net assets at start of year$575,082
XI-8 Prior period adjustments$2,911
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$385,817

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

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