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Crossroads Foundation INC FY2023 filing

Tax-deductible

Muscatine, IA501(c)(3)Human ServicesEIN 42-1471394Revenue $109K in FY2023

On file with the IRS1424 Houser St, 52761-2235 · Muscatine, IATax-exempt since Jan 1999Supporting org, Type III (functionally integrated) — 509(a)(3)

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Crossroads Foundation, INC. Is a supporting organization that owns real estate which IT leases to a related tax exempt organization, Crossroads, INC. Crossroads, INC. Provides assistance to persons having disabilities and special needs.

501(c)(3) charity; gifts are tax-deductible.
14¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · 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
1 of 5
filings with a surplus
Average surplus $247K a year · 62% of revenue · last 5 filings
Worth a look: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
14%
of spending
Concern: 14% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
25 mo
of spending, in cash
Plus $4.6M in investments, Pt X · Ln 11–13
Looks good: 25.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$29K
0.4% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$109K
-93% vs prior year
Spent
$159K
To programs
14%
Net assets
$7.2M
By yearFY2020–FY2024
Revenue
$109K
FY2023▼ -93%
Tap a bar for its year
Revenue by fiscal year
FY2020$86K
FY2021$72K
FY2022$1.6M
FY2023$109K
FY2024$136K
Expenses
$159K
FY2023▲ +23%
Tap a bar for its year
Expenses by fiscal year
FY2020$124K
FY2021$151K
FY2022$129K
FY2023$159K
FY2024$207K
Net assets
$7.2M
FY2023▲ +7%
Tap a bar for its year
Net assets by fiscal year
FY2020$5.3M
FY2021$5.8M
FY2022$6.7M
FY2023$7.2M
FY2024$7.6M

From the FY2023 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2023 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 Jan 1999.

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

Where the money goes

14 cents of each dollar spent went to programs.

Program services 14% · $22K Management & general 83% · $132K Fundraising 3% · $5K

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

10 people listed on the 990.

Part VII, Section A · reportable compensation
Tom Eberhard
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Greg Jenkins
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Bob Otting
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Gary Carlson
President
$0Pt VII · Sec A
Bob Howard
Treasurer
$0Pt VII · Sec A
See Crossroads 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

Owns real estate to support services for people with disabilities.

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Provided by the organization

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1 program · $22K · in their own filed words · FY2023
01

Crossroads foundation, inc. Is a qualified supporting organization operating under internal revenue service regulations to provide support to crossroads inc., a related tax-exempt organization. This support is provided through real estate the foundation owns that it leases to crossroads, inc. On an annual basis.

$22Kprogram expense

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$109K
Ln 12
Other incomeLn 4–11$100K
Investment incomeLn 3$9K
Money outPt IX
$159K
Ln 25
Programscol B$22K
Managementcol C$132K
Fundraisingcol D$5K
Owns and owesPt X
$7.2M
net assets · Ln 32
Cash and savingsLn 1–2$333K
Total assetsLn 16$7.2M
LiabilitiesLn 26$29K
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$9K
Other incomeLn 4–11$100K
Total revenueLn 12$109K
Assets in detailPt X, end of year
CashLn 1$130K
SavingsLn 2$204K
Cash and savings togetherLn 1–2$333K
InvestmentsLn 11–13$4.6M
Land, buildings, equipmentLn 10c$2.1M
Other assetsLn 15$195K
Total assetsLn 16$7.2M
LiabilitiesLn 26$29K
Net assetsLn 32$7.2M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
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 FY23End FY23
Cash and savingsLn 1–2$291K$333K
InvestmentsLn 11–13$4.1M$4.6M
Land, buildings, equipmentLn 10c$2.2M$2.1M
Total assetsLn 16$6.7M$7.2M
LiabilitiesLn 26$63K$29K
Net assetsLn 32$6.7M$7.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$6K$1K$5K
Investment management feesLn 11f$35K$7K$28K
Office expensesLn 13$7K$1K$6K
Depreciation, depletion and amortizationLn 22$99K$10K$84K$5K
InsuranceLn 23$11K$2K$9K
Total functional expensesLn 25$159K$22K$132K$5K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $136K$207K−$71K$7.6M 990 PDF
FY2023 Viewing $109K$159K−$49K$7.2M 990 PDF
FY2022 $1.6M$129K$1.5M$6.7M 990 PDF
FY2021 $72K$151K−$79K$5.8M 990 PDF
FY2020 $86K$124K−$38K$5.3M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $109,437 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,525,180$0
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $2,837$9,133
I-11 Other revenuePrior year $73,101$100,304
I-12 Total revenuePrior year $1,601,118$109,437
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $128,690$158,834
I-18 Total expensesPrior year $128,690$158,834
I-19 Revenue less expensesPrior year $1,472,428−$49,397
Part VI · Governance 9 of 9 board members independent, 1 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $109,437 across 4 lines filed
VIII-3 Investment incomeExcluded from tax $9,133$9,133
VIII-6 Net rental income or lossExcluded from tax $100,097$100,097
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $207$207
VIII-12 Total revenueRelated to mission $207 · Unrelated business $0 · Excluded from tax $109,230$109,437
Part IX · Statement of functional expenses $158,834 across 5 lines filed
IX-11c Accounting feesPrograms $1,225 · Management $4,900$6,125
IX-11f Investment management feesPrograms $7,034 · Management $28,137$35,171
IX-13 Office expensesPrograms $1,390 · Management $5,562$6,952
IX-22 Depreciation, depletion and amortizationPrograms $9,913 · Management $84,261 · Fundraising $4,957$99,131
IX-23 InsurancePrograms $2,291 · Management $9,164$11,455
IX-25 Total functional expensesPrograms $21,853 · Management $132,024 · Fundraising $4,957$158,834
Part X · Balance sheet $7,192,754 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $90,352$129,838
X-2 Savings and temporary cash investmentsStart of year $200,953$203,602
X-10c Land, buildings and equipment, netStart of year $2,151,221$2,096,579
X-11 Publicly traded securitiesStart of year $4,096,647$4,567,611
X-15 Other assetsStart of year $195,124$195,124
X-16 Total assetsStart of year $6,734,297$7,192,754
X-17 Accounts payable and accrued expensesStart of year $62,958$19,734
X-25 Other liabilitiesStart of year $0$9,177
X-26 Total liabilitiesStart of year $62,958$28,911
X-27 Net assets without donor restrictionsStart of year $6,671,339$7,163,843
X-32 Total net assets or fund balancesStart of year $6,671,339$7,163,843
X-33 Total liabilities and net assetsStart of year $6,734,297$7,192,754
Part XI · Reconciliation of net assets $7,163,843 net assets at year end
XI-1 Total revenue$109,437
XI-2 Total expenses$158,834
XI-3 Revenue less expenses−$49,397
XI-4 Net assets at start of year$6,671,339
XI-5 Net unrealized gains (losses) on investments$541,901
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$7,163,843

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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