Lever INC FY2021 filing

Tax-deductible

North Adams, MA501(c)(3)Community DevelopmentEIN 46-4159401Revenue $605K in FY2021

On file with the IRSleverinc.org85 Main St Ste 218, 01247-3429 · North Adams, MATax-exempt since Aug 2014Publicly supported charity — 170(b)(1)(A)(vi)

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Engage in activities to spur economic and entrepreneurial development and to leverage assets in the northern berkshire county, ma region

501(c)(3) charity; gifts are tax-deductible.
88¢ of each $1 spent went to programs.
$155K 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
1 of 5
filings with a surplus
Average deficit $66K a year · 10% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
88%
of spending
Looks good: 88% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$155K
to officers and key staff · 19% of spending
Fine: pay to officers and key staff is 19% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
3 mo
of spending, in cash
Fine: 2.8 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $50K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$18K
5% of total assets
Looks good: liabilities are 5% of assets; 50% or less.
Pt X · Ln 26
Independent board members
17
of 17 voting members
Looks good: 17 of 17 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$605K
+11% vs prior year
Spent
$805K
To programs
88%
Net assets
$332K
By yearFY2020–FY2024
Revenue
$605K
FY2021▲ +11%
Tap a bar for its year
Revenue by fiscal year
FY2020$545K
FY2021$605K
FY2022$854K
FY2023$639K
FY2024$762K
Expenses
$805K
FY2021▲ +21%
Tap a bar for its year
Expenses by fiscal year
FY2020$667K
FY2021$805K
FY2022$626K
FY2023$851K
FY2024$785K
Net assets
$332K
FY2021▼ -33%
Tap a bar for its year
Net assets by fiscal year
FY2020$498K
FY2021$332K
FY2022$649K
FY2023$436K
FY2024$427K

From the FY2021 Form 990 · see the original

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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 Aug 2014.

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

Where the money goes

88 cents of each dollar spent went to programs.

Program services 88% · $708K Management & general 6% · $47K Fundraising 6% · $50K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

18 people listed on the 990; $155K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director
$155,000Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Jeffrey Thomas’s $111K as Executive Di is at the 79th percentile of top reported officer pay among 1709 $100K–1M community development 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 · 2 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Jeffrey Thomas$111,476$143,025$160,250$155,000—
Jeffrey D Thomas————$145,000

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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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 15aYes

Programs and updates

Spur economic growth and entrepreneurship by leveraging assets in Northern Berkshire County.

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Provided by the organization

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1 program · $708K · in their own filed words · FY2021
01

Engage in activities to spur economic and entrepreneurial development and to leverage assets in the northern berkshire county region including without limitation, the city of north adams, ma and surrounding communities.

$708Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 1 funder$50K
Grants paid · 23 grants · $598K · 2020–2024
Ernest Pharmaceuticals INCFY2024$50,000
Jaccpro LLCFY2024$40,000
Organicin Scientific INCFY2024$25,000
Latde Diagnostics CorpFY2023$50,000
Genh INCFY2023$40,000
Organicin Scientific INCFY2023$25,000
Individual RecipientFY2022$25,000
The Cruckfather LLCFY2022$25,000
Gencores INCFY2022$20,000
Keva HealthFY2021$40,000
Health TogetherFY2021$25,000
Individual RecipientFY2021$25,000
Industrial Polymers & ChemFY2021$24,161
Individual RecipientFY2021$16,447
Individual RecipientFY2021$12,500
Individual RecipientFY2021$12,500
Thrive CommunityFY2021$10,000
See all 23 grants →

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$605K
Ln 12
Gifts and grantsLn 1h$604K
Investment incomeLn 3$544
Other incomeLn 4–11$512
Money outPt IX
$805K
Ln 25
Programscol B$708K
Managementcol C$47K
Fundraisingcol D$50K
Owns and owesPt X
$332K
net assets · Ln 32
Cash and savingsLn 1–2$187K
Total assetsLn 16$350K
LiabilitiesLn 26$18K
PeoplePt VI, VII
18
listed · VII A
PaidVII A1
Voting boardVI 1a17
IndependentVI 1b17
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$604K
Government grantsLn 1e$308K
Investment incomeLn 3$544
Other incomeLn 4–11$512
Gains on assetsLn 7$0
Total revenueLn 12$605K
Assets in detailPt X, end of year
CashLn 1$0
SavingsLn 2$187K
Cash and savings togetherLn 1–2$187K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$72K
Other assetsLn 15$0
Total assetsLn 16$350K
LiabilitiesLn 26$18K
Net assetsLn 32$332K
OperationsPt I, VI
EmployeesI 59
VolunteersI 632
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$337K$187K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$76K$72K
Total assetsLn 16$575K$350K
LiabilitiesLn 26$76K$18K
Net assetsLn 32$498K$332K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$187K$187K
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$155K$96K$32K$27K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$200K$200K
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$44K$37K$4K$3K
Payroll taxesLn 10$33K$23K$6K$4K
Management feesLn 11a$0
Legal feesLn 11b$1K$1K
Accounting feesLn 11c$17K$17K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$81K$81K
Advertising and promotionLn 12$2K$2K
Office expensesLn 13$13K$13K$378
Information technologyLn 14$4K$4K
RoyaltiesLn 15$0
OccupancyLn 16$23K$23K$230
TravelLn 17$5K$5K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$18K$2K$16K
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$6K$6K
InsuranceLn 23$3K$3K
Other expenses (24a–d)Ln 24$11K$10K$792
All other expensesLn 24e$0
Total functional expensesLn 25$805K$708K$47K$50K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $762K$785K−$22K$427K 990 PDF
FY2023 $639K$851K−$212K$436K 990 PDF
FY2022 $854K$626K$227K$649K 990 PDF
FY2021 Viewing $605K$805K−$200K$332K 990 PDF
FY2020 $545K$667K−$121K$498K 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 $605,277 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $543,971$604,221
I-9 Program service revenue$0
I-10 Investment incomePrior year $1,158$544
I-11 Other revenue$512
I-12 Total revenuePrior year $545,129$605,277
I-13 Grants and similar amounts paidPrior year $110,014$186,956
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $423,123$432,829
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $133,490$185,320
I-18 Total expensesPrior year $666,627$805,105
I-19 Revenue less expensesPrior year −$121,498−$199,828
Part VI · Governance 17 of 17 board members independent, 3 to look at
VI-1a Voting members of the governing body17
VI-1b Independent voting members17
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $605,277 across 10 lines filed
VIII-1e Government grants$307,732
VIII-1f All other contributions, gifts and grants$296,489
VIII-1h Total contributions, gifts and grants$604,221
VIII-3 Investment incomeExcluded from tax $544$544
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $512$512
VIII-12 Total revenueRelated to mission $512 · Excluded from tax $544$605,277
Part IX · Statement of functional expenses $805,105 across 31 lines filed
IX-1 Grants to domestic organizationsPrograms $186,956$186,956
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffPrograms $95,633 · Management $32,448 · Fundraising $26,919$155,000
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $200,327$200,327
IX-8 Pension plan contributions$0
IX-9 Other employee benefitsPrograms $37,064 · Management $4,064 · Fundraising $3,371$44,499
IX-10 Payroll taxesPrograms $23,329 · Management $5,930 · Fundraising $3,744$33,003
IX-11a Management fees$0
IX-11b Legal feesPrograms $1,091$1,091
IX-11c Accounting feesPrograms $17,071$17,071
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesPrograms $81,014$81,014
IX-12 Advertising and promotionPrograms $2,352$2,352
IX-13 Office expensesPrograms $12,869 · Management $378$13,247
IX-14 Information technologyPrograms $4,347$4,347
IX-15 Royalties$0
IX-16 OccupancyPrograms $22,932 · Management $230$23,162
IX-17 TravelPrograms $4,995$4,995
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetingsPrograms $2,190 · Fundraising $15,619$17,809
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $5,710$5,710
IX-23 InsuranceManagement $3,320$3,320
IX-24 Other expenses (24a–d)Programs $10,410 · Management $792$11,202
IX-24e All other expenses$0
IX-25 Total functional expensesPrograms $708,290 · Management $47,162 · Fundraising $49,653$805,105
Part X · Balance sheet $349,644 assets, 19 lines filed
X-1 Cash, non-interest-bearing$0
X-2 Savings and temporary cash investmentsStart of year $336,925$186,539
X-3 Pledges and grants receivableStart of year $120,511$27,400
X-4 Accounts receivableStart of year $40,000$35,019
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred chargesStart of year $1,209$28,310
X-10c Land, buildings and equipment, netStart of year $75,887$72,376
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assets$0
X-16 Total assetsStart of year $574,532$349,644
X-17 Accounts payable and accrued expensesStart of year $23,539$18,047
X-26 Total liabilitiesStart of year $76,237$18,047
X-27 Net assets without donor restrictionsStart of year $472,784$309,197
X-28 Net assets with donor restrictionsStart of year $25,511$22,400
X-32 Total net assets or fund balancesStart of year $498,295$331,597
X-33 Total liabilities and net assetsStart of year $574,532$349,644
Part XI · Reconciliation of net assets $331,597 net assets at year end
XI-1 Total revenue$605,277
XI-2 Total expenses$805,105
XI-3 Revenue less expenses−$199,828
XI-4 Net assets at start of year$498,295
XI-8 Prior period adjustments$33,130
XI-10 Net assets at end of year$331,597

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

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