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Remmsco INC FY2023 filing

Tax-deductible

Reidsville, NC501(c)(3)Since 1981Mental HealthEIN 56-1346624

To provide halfway house for individuals recovering from substance use disorders.

501(c)(3) charity; gifts are tax-deductible.
93¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · 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
4 of 5
filings with a surplus
Average surplus $34K a year · 9% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
93%
of spending
Looks good: 93% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
7 mo
of spending, in cash
Looks good: 6.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $3K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$856
0.3% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$407K
+13% vs prior year
Spent
$342K
To programs
93%
Net assets
$274K
By yearFY2020–FY2024
Revenue
$407K
FY2023▲ +13%
Revenue by fiscal year
FY2020$364K
FY2021$283K
FY2022$362K
FY2023$407K
FY2024$388K
FY2024$665K
Expenses
$342K
FY2023▲ +3%
Expenses by fiscal year
FY2020$336K
FY2021$294K
FY2022$331K
FY2023$342K
FY2024$332K
FY2024$348K
Net assets
$274K
FY2023▲ +32%
Net assets by fiscal year
FY2020$188K
FY2021$178K
FY2022$209K
FY2023$274K
FY2024$330K
FY2024$648K

From the FY2023 Form 990 (year ending June 2023) · see the original

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You’re viewing the FY2023 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 CRemmsco INC
EINHdr · item D56-1346624
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFAug 1983
Year of formationHdr · item L1981
Latest filingForm 990FY2024 · Form 990
Principal addressHdr · item CReidsville, NC
NTEE classificationIRS BMFMental Health (F34Z)
WebsiteHdr · item Jwww.remmsco.com

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 $0.93 Management & general $0.06 Fundraising $0.01
Program services93%$318K
Management & general6%$19K
Fundraising1%$4K
Total functional expensesLn 25$342K

Financial health

Is it on solid ground?

Program efficiency
93%
of spending reaches programs
Operating runway
6.7mo
months of highly liquid reserves at operating expense rate
Surplus margin
+16%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Total assets
$275K
FY2023▲ +32%
Total assets by fiscal year
FY2020$189K
FY2021$178K
FY2022$209K
FY2023$275K
FY2024$331K
FY2024$649K
Total liabilities
$856
FY2023▲ +89%
Total liabilities by fiscal year
FY2020$741
FY2021$452
FY2022$452
FY2023$856
FY2024$646
FY2024$741
Revenue less expensesPt I · Ln 19$66K
Total assetsPt X · Ln 16$275K
Program-expense ratioPt IX · col B93%
Voting members of governing bodyPt I · Ln 38
Independent voting membersPt I · Ln 48

Balance Sheet

Part X · end of year
CashLn 1$191K
Total assetsLn 16$275K
Total liabilitiesLn 26$856
Total net assetsLn 32$274K
Months of cash on handcomputed6.7

Statement of Revenue

Part VIII
Contributions & grants$371K · 91%
Program service revenue$34K · 8%
Other revenue$2K · 1%
Contributions & grants91%$371K
Program service revenue8%$34K
Other revenue1%$2K
Investment income$693
— government grantsLn 1e$286K
Total revenueLn 12$407K

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $191K · Operating expenses/yr $342K
6.7 months
Where the money goes
Program services
Program services $318K · Total expenses $342K
93%
Management & General
Management & general $19K · Total expenses $342K
6%
Fundraising
Fundraising $4K · Total expenses $342K
1%
Cost to raise $1
Fundraising expense (3-yr avg) $4K · Solicited contributions (3-yr avg) $46K
$0.09 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $371K · Total revenue $407K
91%
Government reliance
Government grants $286K · Total revenue $407K
70%
Earned-income share
Program service revenue $34K · Total revenue $407K
8%
Investment reliance
Investment income $693 · Total revenue $407K
+0.2%
Program self-sufficiency
Program service revenue $34K · Total expenses $342K
10%
Growth & trend
Revenue growth (YoY)
This year $407K · Prior year $362K
+13%
Net-asset trend (YoY)
End of year $274K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $407K · Expenses $342K
+16%
Liabilities-to-Assets
Total liabilities — · Total assets $275K
—
Net-asset ratio
Net assets $274K · Total assets $275K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $275K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Jim Reaves · Reported title President · Highest reported compensation $0 · Total expenses $342K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $182K · Total expenses $342K
53%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 93%——
Overhead ratio 6%——
Fundraising cost ratio 1%——
Revenue growth 13%——
Accounting fee ratio 0.8%——

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 · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Jim Reaves
President
$0Pt VII · Sec A
William C Yates JR
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Ted Paynter
Director
$0Pt VII · Sec A
Doug McLeroy
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Remmsco INC executive salaries →

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Governance & Policies

Part VI
  • 8Voting board membersPt VI · Ln 1a
  • 8Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aNo
  • Whistleblower policyPt VI · Ln 13No
  • Document retention policyPt VI · Ln 14No
  • Top official’s pay independently reviewedPt VI · Ln 15aYes
  • Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

Offers safe housing and support for people recovering from addiction.

Provided by the organization

This section is blank until Remmsco INC claims this page.

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Mission & Programs · Part III

Where the work happens

1 program service account for $318K of program spending, described in the organization's own filed words · FY2022.
01

Halfway house for recovering alcoholics and chemically dependent individuals in Rockingham County. Residents are provided food, shelter and counseling to assist them in their recovery.

$318Kprogram 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 · FY2024
Reidsville Area Foundation INCFY2024$3K
Total grants receivedfrom 1 funder$3K

Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2024 $388K$332K-5% 990 PDF
FY2023 Viewing $407K$342K+13% 990 PDF
FY2022 $362K$331K+28% 990 PDF
FY2021 $283K$294K-22% 990 PDF
FY2020 $364K$336K 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 FY2023

Every line we hold from the return, cited to its Part and line.
Part IX · Statement of functional expenses $341,622 across 11 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $46,500 · Management $2,500 · Fundraising $1,000$50,000
IX-7 Other salaries and wagesPrograms $110,527 · Management $5,942 · Fundraising $2,377$118,846
IX-10 Payroll taxesPrograms $12,142 · Management $653 · Fundraising $261$13,056
IX-11c Accounting feesPrograms $1,976 · Management $659 · Fundraising $0$2,635
IX-13 Office expensesPrograms $1,499 · Management $0 · Fundraising $0$1,499
IX-16 OccupancyPrograms $26,413 · Management $5,544 · Fundraising $0$31,957
IX-17 TravelPrograms $298 · Management $207 · Fundraising $0$505
IX-22 Depreciation, depletion and amortizationPrograms $4,159 · Management $0 · Fundraising $0$4,159
IX-23 InsurancePrograms $14,420 · Management $775 · Fundraising $310$15,505
IX-24 Other expenses (24a–d)Programs $38,416 · Management $0 · Fundraising $0$38,416
IX-24e All other expensesPrograms $61,890 · Management $3,154 · Fundraising $0$65,044
IX-25 Total functional expensesPrograms $318,240 · Management $19,434 · Fundraising $3,948$341,622

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) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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