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Quality Products INC

Tax-deductible

Nevada, MO501(c)(3)EIN 43-1503820

To establish,operate, administer a sheltered workshop for handicapped adults

501(c)(3) charity; gifts are tax-deductible.
83¢ 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
4 of 5
filings with a surplus
Average surplus $43K a year · 9% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
83%
of spending
Looks good: 83% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.8 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$505K
55% of total assets
Fine: liabilities are 55% of assets; 50% to 65%.
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
$376K
-21% vs prior year
Spent
$420K
To programs
83%
Net assets
$408K
By yearFY2020–FY2024
Revenue
$376K
FY2024▼ -21%
Revenue by fiscal year
FY2020$366K
FY2021$601K
FY2022$514K
FY2023$478K
FY2024$376K
Expenses
$420K
FY2024▼ -12%
Expenses by fiscal year
FY2020$352K
FY2021$390K
FY2022$482K
FY2023$476K
FY2024$420K
Net assets
$408K
FY2024▼ -9%
Net assets by fiscal year
FY2020$201K
FY2021$412K
FY2022$444K
FY2023$446K
FY2024$408K

From the FY2024 Form 990 · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 1989.

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

Where the money goes

83 cents of each dollar spent went to programs.

Program services 83% · $347K Management & general 17% · $73K

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

Who runs it and what they're paid

10 people listed on the 990.

Part VII, Section A · reportable compensation
Kathy Modlin
Board Member
$0Pt VII · Sec A
David Heumader
Board Member
$0Pt VII · Sec A
Bonnie Franklin
Board Memeber
$0Pt VII · Sec A
Clem McFarland
Board Memeber
$0Pt VII · Sec A
Blake Hertzberg
Board Member
$0Pt VII · Sec A
Jane Torontow
Board Member
$0Pt VII · Sec A
Vic Wolf
President
$0Pt VII · Sec A
Linda Moore
Vice President
$0Pt VII · Sec A
See Quality Products 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Operates a sheltered workshop providing employment for adults with disabilities.

Provided by the organization

This section is blank until Quality Products INC claims this page.

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1 program service account for $347K of program spending, described in the organization's own filed words · FY2024.
01

To establish, operate & administer a sheltered workshop for approximately 20 handicapped adults. These employees box, assemble & package various products for local industries.

$347Kprogram expense

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By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$376K
Ln 12
Other incomeLn 4–11$226K
Gifts and grantsLn 1h$150K
Investment incomeLn 3$440
Money outPt IX
$420K
Ln 25
Programscol B$347K
Managementcol C$73K
Owns and owesPt X
$408K
net assets · Ln 32
Cash and savingsLn 1–2$28K
Total assetsLn 16$913K
LiabilitiesLn 26$505K
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$150K
Government grantsLn 1e$137K
Investment incomeLn 3$440
Other incomeLn 4–11$226K
Total revenueLn 12$376K
Assets in detailPt X, end of year
CashLn 1$100
SavingsLn 2$27K
Cash and savings togetherLn 1–2$28K
Land, buildings, equipmentLn 10c$764K
Total assetsLn 16$913K
LiabilitiesLn 26$505K
Net assetsLn 32$408K
OperationsPt I, VI
EmployeesI 533
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$121K$28K
Land, buildings, equipmentLn 10c$750K$764K
Total assetsLn 16$968K$913K
LiabilitiesLn 26$522K$505K
Net assetsLn 32$446K$408K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$261K$211K$50K
Payroll taxesLn 10$20K$16K$4K
Legal feesLn 11b$7K$7K
Accounting feesLn 11c$5K$5K
Office expensesLn 13$6K$6K
OccupancyLn 16$34K$34K
TravelLn 17$580$580
InterestLn 20$20K$20K
Depreciation, depletion and amortizationLn 22$35K$35K
InsuranceLn 23$27K$27K
Other expenses (24a–d)Ln 24$4K$3K$1K
All other expensesLn 24e$327$327
Total functional expensesLn 25$420K$347K$73K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $376K$420K−$44K$408K 990 PDF
FY2023 $478K$476K$2K$446K 990 PDF
FY2022 $514K$482K$32K$444K 990 PDF
FY2021 $601K$390K$211K$412K 990 PDF
FY2020 $366K$352K$14K$201K 990 PDF

Want to add your own materials alongside these filings? Claim this org

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 $375,767 across 8 lines filed
Lines not itemized here account for $219,996 of total revenue; see the IRS return.
VIII-1e Government grants$136,881
VIII-1f All other contributions, gifts and grants$12,684
VIII-1h Total contributions, gifts and grants$149,565
VIII-3 Investment incomeRelated to mission $440$440
VIII-6 Net rental income or lossRelated to mission $5,544$5,544
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $222$222
VIII-12 Total revenueRelated to mission $226,202 · Unrelated business $0 · Excluded from tax $0$375,767
Part IX · Statement of functional expenses $420,150 across 12 lines filed
IX-7 Other salaries and wagesPrograms $211,197 · Management $49,974$261,171
IX-10 Payroll taxesPrograms $16,138 · Management $3,833$19,971
IX-11b Legal feesManagement $7,000$7,000
IX-11c Accounting feesManagement $4,845$4,845
IX-13 Office expensesManagement $6,018$6,018
IX-16 OccupancyPrograms $33,727$33,727
IX-17 TravelPrograms $580$580
IX-20 InterestPrograms $20,156$20,156
IX-22 Depreciation, depletion and amortizationPrograms $34,765$34,765
IX-23 InsurancePrograms $27,090$27,090
IX-24 Other expenses (24a–d)Programs $3,152 · Management $1,348$4,500
IX-24e All other expensesPrograms $327$327
IX-25 Total functional expensesPrograms $347,132 · Management $73,018 · Fundraising $0$420,150
Part X · Balance sheet $912,830 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $100$100
X-2 Savings and temporary cash investmentsStart of year $120,465$27,440
X-3 Pledges and grants receivableStart of year $7,049$12,560
X-4 Accounts receivableStart of year $33,634$40,106
X-8 Inventories for sale or useStart of year $50,080$57,070
X-9 Prepaid expenses and deferred chargesStart of year $6,829$11,511
X-10c Land, buildings and equipment, netStart of year $750,266$764,043
X-16 Total assetsStart of year $968,423$912,830
X-17 Accounts payable and accrued expensesStart of year $11,140$13,531
X-26 Total liabilitiesStart of year $522,088$504,618
X-32 Total net assets or fund balancesStart of year $446,335$408,212
X-33 Total liabilities and net assetsStart of year $968,423$912,830
Part XI · Reconciliation of net assets $408,212 net assets at year end
XI-1 Total revenue$375,767
XI-2 Total expenses$420,150
XI-3 Revenue less expenses−$44,383
XI-4 Net assets at start of year$446,335
XI-9 Other changes in net assets$6,260
XI-10 Net assets at end of year$408,212

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

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