Placement Solutions INC FY2021 filing

Tax-deductible

New Prt Rchy, FL501(c)(3)EmploymentEIN 45-0941766Revenue $275K in FY2021

On file with the IRS6511 Main St, 34653-3906 · New Prt Rchy, FLTax-exempt since Oct 2011Publicly supported — 509(a)(2)

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To place people with disabilities in employment situations to allow them to be economically preductive members of society. The organization receives its income from the state of florida.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
$78K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · 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 5
filings with a surplus
Average surplus $8K a year · 3% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$78K
to officers and key staff · 27% of spending
Worth a look: pay to officers and key staff is 27% of spending; over 20%.
Pt VII · Sec A
Cash reserves
4 mo
of spending, in cash
Looks good: 3.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$275K
-31% vs prior year
Spent
$289K
To programs
100%
Net assets
$264K
By yearFY2020–FY2024
Revenue
$275K
FY2021▼ -31%
Tap a bar for its year
Revenue by fiscal year
FY2020$398K
FY2021$275K
FY2022$269K
FY2023$253K
FY2024$246K
Expenses
$289K
FY2021▼ -9%
Tap a bar for its year
Expenses by fiscal year
FY2020$316K
FY2021$289K
FY2022$276K
FY2023$293K
FY2024$229K
Net assets
$264K
FY2021▼ -5%
Tap a bar for its year
Net assets by fiscal year
FY2020$278K
FY2021$264K
FY2022$256K
FY2023$216K
FY2024$233K

From the FY2021 Form 990 · see the original

Form 990 (PDF) Claim
You’re viewing the FY2021 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 Oct 2011.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $289K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

3 people listed on the 990; $78K paid to officers and key staff.

Part VII, Section A · reportable compensation
$45,660Pt VII · Sec A
$32,040Pt VII · Sec A
Vice President
$0Pt VII · Sec A

Colleen Hopkins’s $46K as President is at the 50th percentile of top reported officer pay among 1217 $100K–1M employment 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.

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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

Helps people with disabilities find jobs to become economically productive.

Provided by the organization

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1 program · $289K · in their own filed words · FY2021
01

Success in job placement of various physicall and mentally disabled clients who would otherwise be unable to performjob searches on their own.

$289Kprogram expense

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$275K
Ln 12
Gifts and grantsLn 1h$275K
Investment incomeLn 3$5
Money outPt IX
$289K
Ln 25
Programscol B$289K
Owns and owesPt X
$264K
net assets · Ln 32
Cash and savingsLn 1–2$85K
Total assetsLn 16$264K
LiabilitiesLn 26$0
PeoplePt VI, VII
3
listed · VII A
PaidVII A2
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$275K
Investment incomeLn 3$5
Total revenueLn 12$275K
Assets in detailPt X, end of year
CashLn 1$51K
SavingsLn 2$35K
Cash and savings togetherLn 1–2$85K
Land, buildings, equipmentLn 10c$148K
Other assetsLn 15$30K
Total assetsLn 16$264K
LiabilitiesLn 26$0
Net assetsLn 32$264K
OperationsPt I, VI
EmployeesI 59
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$120K$85K
Land, buildings, equipmentLn 10c$150K$148K
Total assetsLn 16$278K$264K
LiabilitiesLn 26$0$0
Net assetsLn 32$278K$264K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$5K$5K
Pay of current officers, directors and key staffLn 5$78K$78K
Other salaries and wagesLn 7$28K$28K
Payroll taxesLn 10$9K$9K
Legal feesLn 11b$2K$2K
Accounting feesLn 11c$400$400
Other fees for servicesLn 11g$3K$3K
Office expensesLn 13$20K$20K
TravelLn 17$3K$3K
Depreciation, depletion and amortizationLn 22$2K$2K
Other expenses (24a–d)Ln 24$139K$139K
Total functional expensesLn 25$289K$289K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $246K$229K$17K$233K 990 PDF
FY2023 $253K$293K−$40K$216K 990 PDF
FY2022 $269K$276K−$8K$256K 990 PDF
FY2021 Viewing $275K$289K−$14K$264K 990 PDF
FY2020 $398K$316K$82K$278K 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 FY2021 990 (6 parts)
Part I · Summary $274,830 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $398,313$274,825
I-9 Program service revenue$0
I-10 Investment incomePrior year $4$5
I-11 Other revenue$0
I-12 Total revenuePrior year $398,317$274,830
I-13 Grants and similar amounts paidPrior year $34,048$5,390
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $236,676$115,556
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $45,441$168,035
I-18 Total expensesPrior year $316,165$288,981
I-19 Revenue less expensesPrior year $82,152−$14,151
Part VI · Governance 3 of 3 board members independent, 3 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $274,830 across 4 lines filed
VIII-1f All other contributions, gifts and grants$274,825
VIII-1h Total contributions, gifts and grants$274,825
VIII-3 Investment incomeRelated to mission $5$5
VIII-12 Total revenueRelated to mission $5 · Unrelated business $0 · Excluded from tax $0$274,830
Part IX · Statement of functional expenses $288,981 across 11 lines filed
IX-1 Grants to domestic organizationsPrograms $5,390$5,390
IX-5 Pay of current officers, directors and key staffPrograms $77,700$77,700
IX-7 Other salaries and wagesPrograms $28,462$28,462
IX-10 Payroll taxesPrograms $9,394$9,394
IX-11b Legal feesPrograms $1,500$1,500
IX-11c Accounting feesPrograms $400$400
IX-11g Other fees for servicesPrograms $2,607$2,607
IX-13 Office expensesPrograms $19,712$19,712
IX-17 TravelPrograms $2,874$2,874
IX-22 Depreciation, depletion and amortizationPrograms $2,216$2,216
IX-24 Other expenses (24a–d)Programs $138,726$138,726
IX-25 Total functional expensesPrograms $288,981 · Management $0 · Fundraising $0$288,981
Part X · Balance sheet $263,774 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $69,377$50,578
X-2 Savings and temporary cash investmentsStart of year $50,573$34,680
X-10c Land, buildings and equipment, netStart of year $150,477$148,261
X-15 Other assetsStart of year $7,498$30,255
X-16 Total assetsStart of year $277,925$263,774
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $277,925$263,774
X-33 Total liabilities and net assetsStart of year $277,925$263,774
Part XI · Reconciliation of net assets $263,774 net assets at year end
XI-1 Total revenue$274,830
XI-2 Total expenses$288,981
XI-3 Revenue less expenses−$14,151
XI-4 Net assets at start of year$277,925
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$263,774

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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