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

Changinggears INC FY2022 filing

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Provides affordable transportation to help people achieve prosperity. For fiscal year 2022 it reported $770K in revenue, $726K in expenses, and $531K 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 (2020–2022)
Revenue
$770KFY2022
Expenses
$726K
Net assets
$531K
People
9
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 FY2022 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 · $63K
Money in and out
$770K revenue, $726K expenses
Bottom line
33% program efficiency
Where the money goes · FY2022
Total revenue
$770K
Pt VIII · Ln 12
Total expenses
$726K
Pt IX · Ln 25
Net assets
$531K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $44K
Where spending went · Part IX cols B–D
Program services $0.33 Management & general $0.53 Fundraising $0.15
Program efficiency
33%
of spending reaches programs
Operating runway
5.4mo
months of highly liquid reserves at operating expense rate
Surplus margin
+6%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2022 · Form 990
Revenue
$770K
FY2022▲ +44%
Expenses
$726K
FY2022▲ +37%
Total assets
$560K
FY2022▼ -5%
Total liabilities
$29K
FY2022▼ -71%
Total revenue
$770K
Pt VIII · Ln 12
Total expenses
$726K
Pt IX · Ln 25
Net assets
$531K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$44K
Total assetsPt X · Ln 16$560K
Program-expense ratioPt IX · col B33%
Voting members of governing bodyPt I · Ln 39
Independent voting membersPt I · Ln 48

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 1a9
Independent voting membersPt VI · Ln 1b8
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
$62,700Pt 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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Mission & Programs · Part III

Where the work happens

3 program services account for $96K of program spending, described in the organization's own filed words · FY2022.
01

Vehicle Maintenance & Repair Programs

Performed 439 maintenance and repair services for qualified clients. Vehicle maintenance & repairs are performed at half-off.

$49Kprogram expense
02

Vehicle Purchase Program

Sold 11 vehicles to qualified clients. Donated vehicles are restored and sold at half-off with a no-interest loan.

$48Kprogram 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.

Pt IX · col B

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Statement of Revenue

Part VIII
Contributions & grants$589K · 76%
Program service revenue$97K · 13%
Other revenue$84K · 11%
Contributions & grants76%$589K
Program service revenue13%$97K
Other revenue11%$84K
Total revenueLn 12$770K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.33 Management & general $0.53 Fundraising $0.15
Program services33%$238K
Management & general53%$381K
Fundraising15%$106K
Total functional expensesLn 25$726K

Balance Sheet

Part X · end of year
CashLn 1$203K
Total assetsLn 16$560K
Total liabilitiesLn 26$29K
Total net assetsLn 32$531K
Months of cash on handcomputed3.3

Financial Metrics

Form 990 · FY2022 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $203K · Operating expenses (Pt IX) $726K · Less non-cash grants $276K · Cash operating expenses/yr $450K
5.4 months
Where the money goes
Program services
Program services $238K · Total expenses $726K
33%
Management & General
Management & general $381K · Total expenses $726K
53%
Fundraising
Fundraising $106K · Total expenses $726K
15%
Cost to raise $1
Fundraising expense (3-yr avg) $59K · Solicited contributions (3-yr avg) $494K
$0.12 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $589K · Total revenue $770K
76%
Government reliance
Government grants — · Total revenue $770K
Earned-income share
Program service revenue $97K · Total revenue $770K
13%
Investment reliance
Investment income $-6K · Total revenue $770K
-0.8%
Program self-sufficiency
Program service revenue $97K · Total expenses $726K
13%
Growth & trend
Revenue growth (YoY)
This year $770K · Prior year $535K
+44%
Net-asset trend (YoY)
End of year $531K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $770K · Expenses $726K
+6%
Liabilities-to-Assets
Total liabilities — · Total assets $560K
Net-asset ratio
Net assets $531K · Total assets $560K
95%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $560K
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 $63K · Total expenses $726K
9%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $444K · Total expenses $726K
61%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 33%
Overhead ratio 53%
Fundraising cost ratio 18%
Revenue growth 44%
Legal fee ratio 0.09%
Accounting fee ratio 0.9%

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 · viewing · ⤓ 990 PDF
FY2021$535K revenue · ⤓ 990 PDF
FY2020$605K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2022IRS
Classification, formation year, addressIRS Business Master File
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