Strong Foundations INC EIN 46-1712004 Form 990 (PDF) Claim this org

Strong Foundations INC FY2024 filing

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Provides housing and related services for low and moderate-income individuals. For fiscal year 2024 it reported $154K in revenue, $30K in expenses, and $1.0M in net assets.Pt I

Founded
2012
Type
Public charity (501(c)(3)) · Housing
Location
Monmouth, IL
Filings
5 on file (2021–2024)
Revenue
$154KFY2024
Expenses
$30K
Net assets
$1.0M
People
6
Filings
5
Updates
0
More identity details & actions ⌄
EIN  46-1712004 Public charity (501(c)(3)) Monmouth, IL Founded 2012
Form 990 (PDF)
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Size
$100K–1M
What they do
Provides housing and related services for low and moderate-income individuals.
Leadership
Henry Shimmin · Executive Director
Money in and out
$154K revenue, $30K expenses
Bottom line
47% program efficiency
Where the money goes · FY2024
Total revenue
$154K
Pt VIII · Ln 12
Total expenses
$30K
Pt IX · Ln 25
Net assets
$1.0M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $124K
Where spending went · Part IX cols B–D
Program services $0.47 Management & general $0.53
Program efficiency
47%
of spending reaches programs
Operating runway
417.9mo
months of highly liquid reserves at operating expense rate
Surplus margin
+81%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$154K
FY2024▲ +22%
Expenses
$30K
FY2024▲ +26%
Total assets
$1.0M
FY2024▲ +14%
Total liabilities
$618
FY2024▲ +551%
Total revenue
$154K
Pt VIII · Ln 12
Total expenses
$30K
Pt IX · Ln 25
Net assets
$1.0M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$124K
Total assetsPt X · Ln 16$1.0M
Program-expense ratioPt IX · col B47%
Voting members of governing bodyPt I · Ln 35
Independent voting membersPt I · Ln 45
Mission & Programs · Part III

Where the work happens

1 program service account for $14K of program spending, described in the organization's own filed words · FY2023.
01

To meet demands for providing housing and related services for low income and moderate income people.

$14Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CStrong Foundations INC
EINHdr · item D46-1712004
Principal addressHdr · item CMonmouth, IL
WebsiteHdr · item Jnone reported
Year of formationHdr · item L2012
State of legal domicileHdr · item MIL
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHousing (L21)
Ruling yearIRS BMFOct 2014

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a5
Independent voting membersPt VI · Ln 1b5
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 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Executive Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Commissioner
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Other revenue$100K · 65%
Investment income$35K · 23%
Program service revenue$19K · 12%
Other revenue65%$100K
Investment income23%$35K
Program service revenue12%$19K
Total revenueLn 12$154K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.47 Management & general $0.53
Program services47%$14K
Management & general53%$16K
Total functional expensesLn 25$30K

Balance Sheet

Part X · end of year
CashLn 1$1.0M
Total assetsLn 16$1.0M
Total liabilitiesLn 26$618
Total net assetsLn 32$1.0M
Months of cash on handcomputed417.9

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $1.0M · Operating expenses/yr $30K
417.9 months
Where the money goes
Program services
Program services $14K · Total expenses $30K
47%
Management & General
Management & general $16K · Total expenses $30K
53%
Fundraising
Fundraising $0 · Total expenses $30K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $0
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $0 · Total revenue $154K
0%
Government reliance
Government grants — · Total revenue $154K
Earned-income share
Program service revenue $19K · Total revenue $154K
12%
Investment reliance
Investment income $35K · Total revenue $154K
+23%
Program self-sufficiency
Program service revenue $19K · Total expenses $30K
64%
Growth & trend
Revenue growth (YoY)
This year $154K · Prior year $126K
+22%
Net-asset trend (YoY)
End of year $1.0M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $154K · Expenses $30K
+81%
Liabilities-to-Assets
Total liabilities — · Total assets $1.0M
Net-asset ratio
Net assets $1.0M · Total assets $1.0M
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $1.0M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Henry Shimmin · Reported title Executive Director · Highest reported compensation $0 · Total expenses $30K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $10K · Total expenses $30K
33%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 47%
Overhead ratio 53%
Revenue growth 22%
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.

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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
FY2025$64K revenue · ⤓ 990 PDF
FY2024$154K revenue · viewing · ⤓ 990 PDF
FY2023$126K revenue · ⤓ 990 PDF
FY2022$124K revenue · ⤓ 990 PDF
FY2021$29K revenue · ⤓ 990 PDF

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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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