Backtrack INC EIN 61-1378858 Form 990 (PDF) Claim this org

Backtrack INC

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Offers affordable housing for low-income seniors aged 55 and older. For fiscal year 2025 it reported $409K in revenue, $599K in expenses, and $-1.8M in net assets.Pt I

Type
Public charity (501(c)(3)) · Housing
Location
Louisville, KY
Filings
6 on file (2020–2025)
Revenue
$409KFY2025
Expenses
$599K
Net assets
$-1.8M
People
6
Filings
6
Updates
0
More identity details & actions ⌄
EIN  61-1378858 Public charity (501(c)(3)) Louisville, KY
Form 990 (PDF)
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Size
$100K–1M
What they do
Offers affordable housing for low-income seniors aged 55 and older.
Leadership
Rick Hiles · Chairman
Money in and out
$409K revenue, $599K expenses
Bottom line
95% program efficiency
Where the money goes · FY2025
Total revenue
$409K
Pt VIII · Ln 12
Total expenses
$599K
Pt IX · Ln 25
Net assets
$-1.8M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$190K
Where spending went · Part IX cols B–D
Program services $0.95 Management & general $0.05
Program efficiency
95%
of spending reaches programs-0.4% vs prior filing year
Operating runway
1.4mo
months of highly liquid reserves at operating expense rate▲ +40% vs prior filing year
Surplus margin
-47%
revenue over expenses, this year▲ +28% vs prior filing year

Summary of the Filing

Part I · fiscal year 2025 · Form 990
Revenue
$409K
FY2025▲ +13%
Expenses
$599K
FY2025▲ +0.7%
Total assets
$2.1M
FY2025▼ -9%
Total liabilities
$3.9M
FY2025-0.4%
Total revenue
$409K
Pt VIII · Ln 12
Total expenses
$599K
Pt IX · Ln 25
Net assets
$-1.8M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$190K
Total assetsPt X · Ln 16$2.1M
Program-expense ratioPt IX · col B95%
Voting members of governing bodyPt I · Ln 36
Independent voting membersPt I · Ln 46
Mission & Programs · Part III

Where the work happens

1 program service account for $571K of program spending, described in the organization's own filed words · FY2025.
01

Provide quality affordable housing to low income residents who are 55 or older with an annual income that is at or below 50% of the area median income.

$571Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CBacktrack INC
EINHdr · item D61-1378858
Principal addressHdr · item CLouisville, KY
WebsiteHdr · item Jnone reported
Year of formationHdr · item Lpending
State of legal domicileHdr · item MKY
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHousing (L22)
Ruling yearIRS BMFFeb 2020

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a6
Independent voting membersPt VI · Ln 1b6
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Chairman
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Vice Chaiman
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Program service revenue$365K · 89%
Contributions & grants$44K · 11%
Program service revenue89%$365K
Contributions & grants11%$44K
— government grantsLn 1e$44K
Total revenueLn 12$409K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.95 Management & general $0.05
Program services95%$571K
Management & general5%$28K
Total functional expensesLn 25$599K

Balance Sheet

Part X · end of year
CashLn 1$69K
Total assetsLn 16$2.1M
Total liabilitiesLn 26$3.9M
Total net assetsLn 32$-1.8M
Months of cash on handcomputed1.4

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $69K · Operating expenses/yr $599K
1.4 months
Where the money goes
Program services
Program services $571K · Total expenses $599K
95%
Management & General
Management & general $28K · Total expenses $599K
5%
Fundraising
Fundraising $0 · Total expenses $599K
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 $44K · Total revenue $409K
11%
Government reliance
Government grants $44K · Total revenue $409K
11%
Earned-income share
Program service revenue $365K · Total revenue $409K
89%
Investment reliance
Investment income $0 · Total revenue $409K
0%
Program self-sufficiency
Program service revenue $365K · Total expenses $599K
61%
Growth & trend
Revenue growth (YoY)
This year $409K · Prior year $362K
+13%
Revenue CAGR
FY2020 $334K · FY2025 $409K
+4%
Net-asset trend (YoY)
End of year $-1.8M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $409K · Expenses $599K
-47%
Liabilities-to-Assets
Total liabilities — · Total assets $2.1M
Net-asset ratio
Net assets $-1.8M · Total assets $2.1M
-84%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $2.1M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Rick Hiles · Reported title CHAIRMAN · Highest reported compensation $0 · Total expenses $599K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $599K
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 95%
Overhead ratio 5%
Fundraising cost ratio 0%
Revenue growth 13%
Legal fee ratio 0.2%
Accounting fee ratio 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.

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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 (Latest)$409K revenue · viewing · ⤓ 990 PDF
FY2024$362K revenue · ⤓ 990 PDF
FY2023$356K revenue · ⤓ 990 PDF
FY2022$353K revenue · ⤓ 990 PDF
FY2021$336K revenue · ⤓ 990 PDF
FY2020$334K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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