Innovative Industries INC

Tax-deductible

Carthage, MO501(c)(3)Since 1969EmploymentEIN 43-0923010

Provide employment for developmentally disabled individuals.

501(c)(3) charity; gifts are tax-deductible.
65¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · 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 4
filings with a surplus
Average surplus $77K a year · 5% of revenue · last 4 filings
Worth a look: a surplus in 2 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
65%
of spending
Worth a look: 65% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
3 mo
of spending, in cash
Fine: 2.9 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$160K
9% of total assets
Looks good: liabilities are 9% of assets; 50% or less.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.4M
-7% vs prior year
Spent
$1.6M
To programs
65%
Net assets
$1.7M
By yearFY2021–FY2024
Revenue
$1.4M
FY2024▼ -7%
Revenue by fiscal year
FY2021$1.5M
FY2022$1.5M
FY2023$2.3M
FY2024$1.5M
FY2024$1.4M
Expenses
$1.6M
FY2024▼ -4%
Expenses by fiscal year
FY2021$1.5M
FY2022$1.5M
FY2023$1.9M
FY2024$1.7M
FY2024$1.6M
Net assets
$1.7M
FY2024▼ -9%
Net assets by fiscal year
FY2021$1.5M
FY2022$1.5M
FY2023$1.9M
FY2024$1.8M
FY2024$1.7M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 1970.

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

Where the money goes

65 cents of each dollar spent went to programs.

Program services 65% · $1.0M Management & general 35% · $556K

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

Who runs it and what they're paid

11 people listed on the 990.

Part VII, Section A · reportable compensation
Executive Dir.
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
See Innovative Industries 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 15aYes

Programs and updates

Offers jobs to people with developmental disabilities.

Provided by the organization

This section is blank until Innovative Industries INC claims this page.

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1 program service account for $1.0M of program spending, described in the organization's own filed words · FY2024.
01

Provide employment for developmentally disabled individuals.

$1.0Mprogram expense

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By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$1.4M
Ln 12
Fees for servicesLn 2g$1.0M
Gifts and grantsLn 1h$399K
Investment incomeLn 3$6K
Money outPt IX
$1.6M
Ln 25
Programscol B$1.0M
Managementcol C$556K
Owns and owesPt X
$1.7M
net assets · Ln 32
Cash and savingsLn 1–2$378K
Total assetsLn 16$1.8M
LiabilitiesLn 26$160K
PeoplePt VI, VII
11
listed · VII A
PaidVII A0
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$399K
Government grantsLn 1e$399K
Fees for servicesLn 2g$1.0M
Investment incomeLn 3$6K
Other incomeLn 4–11$1K
Gains on assetsLn 7$5K
Total revenueLn 12$1.4M
Assets in detailPt X, end of year
CashLn 1$378K
SavingsLn 2$0
Cash and savings togetherLn 1–2$378K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$1.0M
Other assetsLn 15$260K
Total assetsLn 16$1.8M
LiabilitiesLn 26$160K
Net assetsLn 32$1.7M
OperationsPt I, VI
EmployeesI 567
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$112K$378K
InvestmentsLn 11–13$18K$0
Land, buildings, equipmentLn 10c$999K$1.0M
Total assetsLn 16$2.0M$1.8M
LiabilitiesLn 26$188K$160K
Net assetsLn 32$1.8M$1.7M
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$1.0M$530K$471K
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$78K$41K$36K
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$0
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$12K$12K
Advertising and promotionLn 12$7K$7K
Office expensesLn 13$0
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$36K$36K
TravelLn 17$38K$38K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$3K$3K
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$94K$85K$9K
InsuranceLn 23$92K$92K
Other expenses (24a–d)Ln 24$185K$160K$25K
All other expensesLn 24e$37K$35K$2K
Total functional expensesLn 25$1.6M$1.0M$556K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $1.5M$1.7M−$123K$1.8M 990 PDF
FY2023 $2.3M$1.9M$421K$1.9M 990 PDF
FY2022 $1.5M$1.5M−$9K$1.5M 990 PDF
FY2021 $1.5M$1.5M$20K$1.5M 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 FY2024 990 (4 parts)
Part VIII · Statement of revenue $1,420,578 across 10 lines filed
VIII-1e Government grants$399,297
VIII-1h Total contributions, gifts and grants$399,297
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,014,139$1,014,139
VIII-3 Investment incomeRelated to mission $1,271$1,271
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assetsRelated to mission $4,647$4,647
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $1,224$1,224
VIII-12 Total revenueRelated to mission $1,021,281$1,420,578
Part IX · Statement of functional expenses $1,582,860 across 31 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 wagesPrograms $529,895 · Management $470,821$1,000,716
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxesPrograms $41,048 · Management $36,471$77,519
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting fees$0
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesManagement $11,716$11,716
IX-12 Advertising and promotionPrograms $6,765$6,765
IX-13 Office expenses$0
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 OccupancyPrograms $36,210$36,210
IX-17 TravelPrograms $37,791$37,791
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetingsPrograms $2,799$2,799
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $84,793 · Management $9,421$94,214
IX-23 InsurancePrograms $92,498$92,498
IX-24 Other expenses (24a–d)Programs $160,187 · Management $25,305$185,492
IX-24e All other expensesPrograms $34,699 · Management $2,441$37,140
IX-25 Total functional expensesPrograms $1,026,685 · Management $556,175 · Fundraising $0$1,582,860
Part X · Balance sheet $1,812,813 assets, 18 lines filed
X-1 Cash, non-interest-bearingStart of year $112,454$378,350
X-2 Savings and temporary cash investments$0
X-3 Pledges and grants receivable$0
X-4 Accounts receivableStart of year $197,440$138,986
X-8 Inventories for sale or useStart of year $21,441$21,441
X-9 Prepaid expenses and deferred charges$0
X-10c Land, buildings and equipment, netStart of year $999,107$1,013,853
X-11 Publicly traded securitiesStart of year $17,900$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assetsStart of year $656,198$260,183
X-16 Total assetsStart of year $2,004,540$1,812,813
X-17 Accounts payable and accrued expensesStart of year $188,173$159,688
X-26 Total liabilitiesStart of year $188,173$159,688
X-27 Net assets without donor restrictionsStart of year $1,816,367$1,653,125
X-32 Total net assets or fund balancesStart of year $1,816,367$1,653,125
X-33 Total liabilities and net assetsStart of year $2,004,540$1,812,813
Part XI · Reconciliation of net assets $1,653,125 net assets at year end
XI-1 Total revenue$1,420,578
XI-2 Total expenses$1,582,860
XI-3 Revenue less expenses−$162,282
XI-4 Net assets at start of year$1,816,367
XI-9 Other changes in net assets−$960
XI-10 Net assets at end of year$1,653,125

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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