Placement Solutions INC FY2022 filing

Tax-deductible

New Prt Rchy, FL501(c)(3)EmploymentEIN 45-0941766

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.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
Is it a real charity?
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
Are gifts tax-deductible?
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Is it filing on time?
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 years looks good.
IRS e-file · Filing history
Is it financially stable?
2 of 5
years in the black
Concern: 3 of the last 5 filings show a deficit.
Pt I · Ln 19 · 5 filings
How much reaches the programs?
100%
of spending
Looks good: 100% of spending went to programs; 75% or more looks good.
Pt IX · Ln 25 · col B
Do they have reserves?
2 mo
of spending, in cash
Worth a look: 2.5 months of spending in cash; under 3 is worth a look.
Pt X · Ln 1–2 · Pt I · Ln 18
Do they carry debt?
$0
liabilities
Looks good: debts are 0% of assets; 50% or less looks good.
Pt X · Ln 26
Who oversees it?
3
independent of 3 voting board members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodWorth a lookConcernTap a box for the reason.
Revenue
$269K
-2% vs prior year
Spent
$276K
To programs
100%
Net assets
$256K
By yearFY2020–FY2024
Revenue
$269K
FY2022▼ -2%
Revenue by fiscal year
FY2020$398K
FY2021$275K
FY2022$269K
FY2023$253K
FY2024$246K
Expenses
$276K
FY2022▼ -4%
Expenses by fiscal year
FY2020$316K
FY2021$289K
FY2022$276K
FY2023$293K
FY2024$229K
Net assets
$256K
FY2022▼ -3%
Net assets by fiscal year
FY2020$278K
FY2021$264K
FY2022$256K
FY2023$216K
FY2024$233K

From the FY2022 Form 990 · see the original

You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Status and standing

Is it real, and can you give to it?

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Legal name (IRS)Hdr · item CPlacement Solutions INC
EINHdr · item D45-0941766
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFOct 2011
Latest filingForm 990FY2024 · Form 990
Principal addressHdr · item CNew Prt Rchy, FL
NTEE classificationIRS BMFEmployment (J30)

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $1.00
Program services100%$276K
Total functional expensesLn 25$276K

Financial health

Is it on solid ground?

Program efficiency
100%
of spending reaches programs
Operating runway
2.5mo
months of highly liquid reserves at operating expense rate
Surplus margin
-3%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2022 · Form 990
Total assets
$256K
FY2022▼ -3%
Total assets by fiscal year
FY2020$278K
FY2021$264K
FY2022$256K
FY2023$216K
FY2024$233K
Total liabilities
$0
FY2022
Total liabilities by fiscal year
FY2020$0
FY2021$0
FY2022$0
FY2023$0
FY2024$0
Revenue less expensesPt I · Ln 19−$8K
Total assetsPt X · Ln 16$256K
Program-expense ratioPt IX · col B100%
Voting members of governing bodyPt I · Ln 33
Independent voting membersPt I · Ln 43

Balance Sheet

Part X · end of year
CashLn 1$57K
Total assetsLn 16$256K
Total liabilitiesLn 26$0
Total net assetsLn 32$256K
Months of cash on handcomputed2.5

Statement of Revenue

Part VIII
Contributions & grants100%$269K
Investment income$5
Total revenueLn 12$269K

Financial Metrics

Form 990 · FY2022 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $57K · Operating expenses/yr $276K
2.5 months
Where the money goes
Program services
Program services $276K · Total expenses $276K
100%
Management & General
Management & general $0 · Total expenses $276K
0%
Fundraising
Fundraising $0 · Total expenses $276K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $314K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $269K · Total revenue $269K
100%
Government reliance
Government grants — · Total revenue $269K
—
Earned-income share
Program service revenue $0 · Total revenue $269K
0%
Investment reliance
Investment income $5 · Total revenue $269K
<0.01%
Program self-sufficiency
Program service revenue $0 · Total expenses $276K
0%
Growth & trend
Revenue growth (YoY)
This year $269K · Prior year $275K
-2%
Net-asset trend (YoY)
End of year $256K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $269K · Expenses $276K
-3%
Liabilities-to-Assets
Total liabilities — · Total assets $256K
—
Net-asset ratio
Net assets $256K · Total assets $256K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $256K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Christine Hogan · Reported title VICE PRESIDENT · Highest reported compensation $0 · Total expenses $276K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $104K · Total expenses $276K
38%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 100%——
Overhead ratio 0%——
Fundraising cost ratio 0%——
Revenue growth -2%——

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.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$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.

See Placement Solutions INC executive salaries →

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Governance & Policies

Part VI
  • 3Voting board membersPt VI · Ln 1a
  • 3Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aNo
  • Whistleblower policyPt VI · Ln 13No
  • Document retention policyPt VI · Ln 14Yes
  • Top official’s pay independently reviewedPt VI · Ln 15aNo
  • Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

Helps people with disabilities find jobs to become economically productive.

Provided by the organization

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Mission & Programs · Part III

Where the work happens

1 program service account for $276K of program spending, described in the organization's own filed words · FY2022.
01

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

$276Kprogram expense

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Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2024 Latest $246K$229K-2% 990 PDF
FY2023 $253K$293K-6% 990 PDF
FY2022 Viewing $269K$276K-2% 990 PDF
FY2021 $275K$289K-31% 990 PDF
FY2020 $398K$316K 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

Full filing: Form 990 for FY2022

Every line we hold from the return, cited to its Part and line.
Part IX · Statement of functional expenses $276,362 across 9 lines filed
IX-1 Grants to domestic organizationsPrograms $10,634$10,634
IX-5 Pay of current officers, directors and key staffPrograms $90,460$90,460
IX-7 Other salaries and wagesPrograms $13,676$13,676
IX-13 Office expensesPrograms $575$575
IX-16 OccupancyPrograms $4,828$4,828
IX-17 TravelPrograms $5,763$5,763
IX-22 Depreciation, depletion and amortizationPrograms $1,507$1,507
IX-24 Other expenses (24a–d)Programs $135,089$135,089
IX-24e All other expensesPrograms $13,830$13,830
IX-25 Total functional expensesPrograms $276,362 · Management $0 · Fundraising $0$276,362

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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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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