Changinggears INC EIN 45-0612130 Form 990 (PDF) Claim this org

Changinggears INC FY2020 filing

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Provides affordable transportation to help people achieve prosperity. For fiscal year 2020 it reported $605K in revenue, $388K in expenses, and $482K in net assets.Pt I

Type
Public charity (501(c)(3)) · Human Services
Location
Cincinnati, OH
Website
www.changing-gears.org
Filings
5 on file (2020–2020)
Revenue
$605KFY2020
Expenses
$388K
Net assets
$482K
People
10
Filings
5
Updates
0
More identity details & actions ⌄
EIN  45-0612130 Public charity (501(c)(3)) Cincinnati, OH
Form 990 (PDF)
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →
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Size
$1–10M
What they do
Provides affordable transportation to help people achieve prosperity.
Leadership
Joel Bokelman · Director & Executive Direc · $54K
Money in and out
$605K revenue, $388K expenses
Bottom line
45% program efficiency
Where the money goes · FY2020
Total revenue
$605K
Pt VIII · Ln 12
Total expenses
$388K
Pt IX · Ln 25
Net assets
$482K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $217K
Where spending went · Part IX cols B–D
Program services $0.45 Management & general $0.51 Fundraising $0.04
Program efficiency
45%
of spending reaches programs
Operating runway
22.2mo
months of highly liquid reserves at operating expense rate
Surplus margin
+36%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2020 · Form 990
Revenue
$605K
FY2020
Expenses
$388K
FY2020
Total assets
$539K
FY2020
Total liabilities
$57K
FY2020
Total revenue
$605K
Pt VIII · Ln 12
Total expenses
$388K
Pt IX · Ln 25
Net assets
$482K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$217K
Total assetsPt X · Ln 16$539K
Program-expense ratioPt IX · col B45%
Voting members of governing bodyPt I · Ln 310
Independent voting membersPt I · Ln 49
Mission & Programs · Part III

Where the work happens

3 program services account for $101K of program spending, described in the organization's own filed words · FY2020.
01

Vehicle Purchase Program

Sold 12 vehicles to qualified clients. Donated vehicles are restored and sold at half-off with a no-interest loan.

$48Kprogram expense
02

Vehicle Maintenance & Repair Programs

Performed 217 maintenance and repair services for qualified clients. Vehicle maintenance & repairs are performed at half-off.

$38Kprogram expense
03

Repair and sales activities for donated vehicles that are sold outside of program services. Changinggears accepts donated vehicles in any condition. Vehicles that are not appropriate for use in the program services are sold to the public and the revenue is used to support program services.

$15Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CChanginggears INC
EINHdr · item D45-0612130
Principal addressHdr · item CCincinnati, OH
WebsiteHdr · item Jwww.changing-gears.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MOH
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHuman Services (P80)
Ruling yearIRS BMFAug 2011

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a10
Independent voting membersPt VI · Ln 1b9
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Director & Executive Direc
$53,961Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A

Joel Bokelman’s $86K as Executive Director is at the 23rd percentile of top reported officer pay among 3864 $1–10M human services 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 · 1 named individual · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Joel Bokelman$86,400$79,468$62,700$59,631$53,961

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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Statement of Revenue

Part VIII
Contributions & grants$465K · 77%
Program service revenue$86K · 14%
Other revenue$54K · 9%
Contributions & grants77%$465K
Program service revenue14%$86K
Other revenue9%$54K
Investment income$143
Total revenueLn 12$605K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.45 Management & general $0.51 Fundraising $0.04
Program services45%$174K
Management & general51%$196K
Fundraising4%$17K
Total functional expensesLn 25$388K

Balance Sheet

Part X · end of year
CashLn 1$379K
Total assetsLn 16$539K
Total liabilitiesLn 26$57K
Total net assetsLn 32$482K
Months of cash on handcomputed11.7

Financial Metrics

Form 990 · FY2020 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $379K · Operating expenses (Pt IX) $388K · Less non-cash grants $183K · Cash operating expenses/yr $205K
22.2 months
Where the money goes
Program services
Program services $174K · Total expenses $388K
45%
Management & General
Management & general $196K · Total expenses $388K
51%
Fundraising
Fundraising $17K · Total expenses $388K
4%
Cost to raise $1
Fundraising expense $17K · Solicited contributions $465K
$0.04 to raise $1
Where the money comes from
Contribution dependence
Contributions & grants $465K · Total revenue $605K
77%
Government reliance
Government grants — · Total revenue $605K
Earned-income share
Program service revenue $86K · Total revenue $605K
14%
Investment reliance
Investment income $143 · Total revenue $605K
+0.02%
Program self-sufficiency
Program service revenue $86K · Total expenses $388K
22%
Growth & trend
Revenue growth (YoY)
This year $605K · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $482K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $605K · Expenses $388K
+36%
Liabilities-to-Assets
Total liabilities — · Total assets $539K
Net-asset ratio
Net assets $482K · Total assets $539K
89%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $539K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Joel Bokelman · Reported title DIRECTOR & EXECUTIVE DIREC · Highest reported compensation $54K · Total expenses $388K
14%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $235K · Total expenses $388K
61%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 45%
Overhead ratio 51%
Fundraising cost ratio 4%
Accounting fee ratio 1%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2024
See all 8 funders →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$1.2M revenue · ⤓ 990 PDF
FY2023$960K revenue · ⤓ 990 PDF
FY2022$770K revenue · ⤓ 990 PDF
FY2021$535K revenue · ⤓ 990 PDF
FY2020$605K revenue · viewing · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2020IRS
Classification, formation year, addressIRS Business Master File
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