Dry Bones Denver FY2024 filing

Denver, CO · Public charity (501(c)(3)) · Since 2003 · Housing

✓ Tax-deductible
Revenue
$1.3M
+34% vs prior year
Spent
$1.5M
To programs
92%
Net assets
$676K
By yearFY2020–FY2025
Revenue
$1.3M
FY2024▲ +34%
Revenue by fiscal year
FY2020$829K
FY2021$1.1M
FY2022$1.3M
FY2023$996K
FY2024$1.3M
FY2025$1.2M
Expenses
$1.5M
FY2024▲ +36%
Expenses by fiscal year
FY2020$850K
FY2021$981K
FY2022$993K
FY2023$1.1M
FY2024$1.5M
FY2025$1.0M
Net assets
$676K
FY2024▼ -18%
Net assets by fiscal year
FY2020$495K
FY2021$639K
FY2022$931K
FY2023$829K
FY2024$676K
FY2025$879K

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

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?
Yes — filed FY2025
Legal name (IRS)Hdr · item CDry Bones Denver
EINHdr · item D46-0471517
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFJul 2003
Year of formationHdr · item L2003
Latest filingForm 990FY2025 · Form 990
Principal addressHdr · item CDenver, CO
NTEE classificationIRS BMFHousing (L41)
WebsiteHdr · item Jwww.drybonesdenver.org

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 $0.92 Management & general $0.06 Fundraising $0.02
Program services92%$1.4M
Management & general6%$91K
Fundraising2%$28K
Total functional expensesLn 25$1.5M

Financial health

Is it on solid ground?

Program efficiency
92%
of spending reaches programs
Operating runway
1.9mo
months of highly liquid reserves at operating expense rate
Surplus margin
-11%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Total assets
$722K
FY2024▼ -16%
Total assets by fiscal year
FY2020$598K
FY2021$663K
FY2022$955K
FY2023$862K
FY2024$722K
FY2025$901K
Total liabilities
$46K
FY2024▲ +42%
Total liabilities by fiscal year
FY2020$103K
FY2021$24K
FY2022$25K
FY2023$32K
FY2024$46K
FY2025$22K
Revenue less expensesPt I · Ln 19−$153K
Total assetsPt X · Ln 16$722K
Program-expense ratioPt IX · col B92%
Voting members of governing bodyPt I · Ln 310
Independent voting membersPt I · Ln 49

Balance Sheet

Part X · end of year
CashLn 1$221K
Total assetsLn 16$722K
Total liabilitiesLn 26$46K
Total net assetsLn 32$676K
Months of cash on handcomputed1.8

Statement of Revenue

Part VIII
Contributions & grants$1.0M · 78%
Other revenue$231K · 17%
Program service revenue$44K · 3%
Investment income$21K · 2%
Contributions & grants78%$1.0M
Other revenue17%$231K
Program service revenue3%$44K
Investment income2%$21K
— government grantsLn 1e$104K
Total revenueLn 12$1.3M

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $221K · Operating expenses (Pt IX) $1.5M · Less non-cash grants $66K · Cash operating expenses/yr $1.4M
1.9 months
Where the money goes
Program services
Program services $1.4M · Total expenses $1.5M
92%
Management & General
Management & general $91K · Total expenses $1.5M
6%
Fundraising
Fundraising $28K · Total expenses $1.5M
2%
Cost to raise $1
Fundraising expense (3-yr avg) $25K · Solicited contributions (3-yr avg) $979K
$0.03 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $1.0M · Total revenue $1.3M
78%
Government reliance
Government grants $104K · Total revenue $1.3M
8%
Earned-income share
Program service revenue $44K · Total revenue $1.3M
3%
Investment reliance
Investment income $21K · Total revenue $1.3M
+2%
Program self-sufficiency
Program service revenue $44K · Total expenses $1.5M
3%
Growth & trend
Revenue growth (YoY)
This year $1.3M · Prior year $996K
+34%
Revenue CAGR
FY2020 $829K · FY2024 $1.3M
+13%
Net-asset trend (YoY)
End of year $676K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $1.3M · Expenses $1.5M
-11%
Liabilities-to-Assets
Total liabilities — · Total assets $722K
—
Net-asset ratio
Net assets $676K · Total assets $722K
94%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $722K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Katherine Wallace · Reported title Secretary · Highest reported compensation $63K · Total expenses $1.5M
4%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $949K · Total expenses $1.5M
64%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 92%——
Overhead ratio 6%——
Fundraising cost ratio 3%——
Revenue growth 34%——
Investment management fee ratio 0.06%——
Accounting fee ratio 1.0%——

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
$63,440Pt VII · Sec A
Director
$11,975Pt VII · Sec A
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Katherine Wallace’s $65K as Secretary is at the 10th percentile of top reported officer pay among 2036 $1–10M housing 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 · 3 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Katherine Wallace$65,400$63,440$61,000$58,707——
Katherine N Wallace————$53,033$53,430
Julie Pike$6,140$11,975$3,218$4,251$966$2,116

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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Governance & Policies

Part VI
  • 10Voting board membersPt VI · Ln 1a
  • 9Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aNo
  • Whistleblower policyPt VI · Ln 13Yes
  • Document retention policyPt VI · Ln 14No
  • Top official’s pay independently reviewedPt VI · Ln 15aYes
  • Family or business ties among leadersPt VI · Ln 2Yes

Mission and programs

What it does.

Employs and trains homeless young adults in coffee businesses to help them exit homelessness.

Provided by the organization

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Mission & Programs · Part III

Where the work happens

2 program services account for $1.4M of program spending, described in the organization's own filed words · FY2024.
01

To employ and provide job training to homeless young adults who are working to exit homelessness through our coffee roasting and coffee shop businesses. We employ 3-5 homeless young adults, who work 20-30 hours per week over a 12 month period.

$713Kprogram expense
02

Support and teach teens and young adults about living an effective, responsible life and thus give them a pathway to society.

$659Kprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2025
Total grants receivedfrom 2 funders$40K

Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2025 Latest $1.2M$1.0M-9% 990 PDF
FY2024 Viewing $1.3M$1.5M+34% 990 PDF
FY2023 $996K$1.1M-22% 990 PDF
FY2022 $1.3M$993K+14% 990 PDF
FY2021 $1.1M$981K+36% 990 PDF
FY2020 $829K$850K 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

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) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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