His Way INC

Tax-deductible

Ridgeland, MS501(c)(3)Human ServicesEIN 64-0733014

The specific objectives and purposes of this corporation shall be charitable. The principal purpose and objective of his way, INC. Shall be to serve the needs of children under the age of 18 with monetary contributions to other 501(c)(3) charities. The purpose of the receiving charities, as registered and reported to the mississippi secretary of state's office, must be to serve the needs of underprivileged, at risk, abused, neglected or homeless children. Services may include food, clothing, shelter, after-school mentoring programs, supplies and equipment, medical and remedial care, and construction. At the sole discretion of the board of directors, contributions may also be made to charities to fund other services of the organization that are directly related to meeting the needs of the children served.

501(c)(3) charity; gifts are tax-deductible.
87¢ of each $1 spent went to programs.
$136K 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

FY2024 · 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 $17K a year · 2% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
87%
of spending
Looks good: 87% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$136K
to officers and key staff · 18% of spending
Top officer’s pay higher than 96% of similar orgs
Fine: pay to officers and key staff is 18% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
10 mo
of spending, in cash
Looks good: 9.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$89K
6% of total assets
Looks good: liabilities are 6% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$735K
-22% vs prior year
Spent
$779K
To programs
87%
Net assets
$1.5M
By yearFY2020–FY2024
Revenue
$735K
FY2024▼ -22%
Revenue by fiscal year
FY2020$652K
FY2021$1.2M
FY2022$884K
FY2023$944K
FY2024$735K
Expenses
$779K
FY2024▼ -18%
Expenses by fiscal year
FY2020$708K
FY2021$1.2M
FY2022$830K
FY2023$946K
FY2024$779K
Net assets
$1.5M
FY2024▼ -3%
Net assets by fiscal year
FY2020$1.5M
FY2021$1.4M
FY2022$1.5M
FY2023$1.5M
FY2024$1.5M

From the FY2024 Form 990 · see the original

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 1987.

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

Where the money goes

87 cents of each dollar spent went to programs.

Program services 87% · $676K Management & general 13% · $102K

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

Who runs it and what they're paid

8 people listed on the 990; $136K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director
$136,394Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Leslie Threadgill’s $136K as Executive Director is at the 96th percentile of top reported officer pay among 2168 $100K–1M human services 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 · 1 named individual · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Leslie Threadgill$136,394$126,675$120,961$118,392$115,795

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.

See His Way INC executive salaries →

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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

Provides monetary aid to charities supporting underprivileged children.

Provided by the organization

This section is blank until His Way INC claims this page.

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1 program service account for $676K of program spending, described in the organization's own filed words · FY2024.
01

Provide support to organizations which operate programs that nurture and assist underprivileged, neglected, abused or homeless children.

$676Kprogram 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 · this organization's grantmaking
Grants paid · 74 grants · $3.1M · 2020–2024
Casa of Hancock CoMS · FY2024$56,039
Kids HubMS · FY2024$51,000
Cherished Hearts INCMS · FY2024$48,356
Easterseals Ms CacMS · FY2024$38,068
His Heart INCMS · FY2024$34,000
Casa of Hancock CoMS · FY2023$49,100
See all 74 grants →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$735K
Ln 12
Other incomeLn 4–11$710K
Investment incomeLn 3$25K
Money outPt IX
$779K
Ln 25
Programscol B$676K
Managementcol C$102K
Owns and owesPt X
$1.5M
net assets · Ln 32
Cash and savingsLn 1–2$629K
Total assetsLn 16$1.5M
LiabilitiesLn 26$89K
PeoplePt VI, VII
8
listed · VII A
PaidVII A1
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$25K
Other incomeLn 4–11$710K
Gains on assetsLn 7−$296
Total revenueLn 12$735K
Assets in detailPt X, end of year
CashLn 1$629K
Cash and savings togetherLn 1–2$629K
Land, buildings, equipmentLn 10c$854K
Other assetsLn 15$47K
Total assetsLn 16$1.5M
LiabilitiesLn 26$89K
Net assetsLn 32$1.5M
OperationsPt I, VI
EmployeesI 521
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$626K$629K
Land, buildings, equipmentLn 10c$872K$854K
Total assetsLn 16$1.6M$1.5M
LiabilitiesLn 26$90K$89K
Net assetsLn 32$1.5M$1.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$503K$503K
Other salaries and wagesLn 7$170K$105K$64K
Legal feesLn 11b$9K$3K$6K
Advertising and promotionLn 12$6K$4K$2K
Office expensesLn 13$41K$27K$14K
OccupancyLn 16$19K$13K$6K
TravelLn 17$7K$5K$2K
Depreciation, depletion and amortizationLn 22$15K$10K$5K
InsuranceLn 23$7K$5K$2K
Other expenses (24a–d)Ln 24$773$516$257
Total functional expensesLn 25$779K$676K$102K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $735K$779K−$44K$1.5M 990 PDF
FY2023 $944K$946K−$1K$1.5M 990 PDF
FY2022 $884K$830K$55K$1.5M 990 PDF
FY2021 $1.2M$1.2M−$36K$1.4M 990 PDF
FY2020 $652K$708K−$56K$1.5M 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 FY2024 990 (4 parts)
Part VIII · Statement of revenue $734,542 across 4 lines filed
Lines not itemized here account for $648,862 of total revenue; see the IRS return.
VIII-3 Investment incomeExcluded from tax $25,078$25,078
VIII-7 Net gain or loss on sales of assetsRelated to mission −$296−$296
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $60,898$60,898
VIII-12 Total revenueRelated to mission $70,535 · Unrelated business $578,031 · Excluded from tax $85,976$734,542
Part IX · Statement of functional expenses $778,584 across 10 lines filed
IX-1 Grants to domestic organizationsPrograms $503,447$503,447
IX-7 Other salaries and wagesPrograms $105,479 · Management $64,418$169,897
IX-11b Legal feesPrograms $3,336 · Management $5,745$9,081
IX-12 Advertising and promotionPrograms $4,241 · Management $2,121$6,362
IX-13 Office expensesPrograms $27,074 · Management $13,610$40,684
IX-16 OccupancyPrograms $12,572 · Management $6,286$18,858
IX-17 TravelPrograms $4,609 · Management $2,218$6,827
IX-22 Depreciation, depletion and amortizationPrograms $10,198 · Management $5,098$15,296
IX-23 InsurancePrograms $4,906 · Management $2,453$7,359
IX-24 Other expenses (24a–d)Programs $516 · Management $257$773
IX-25 Total functional expensesPrograms $676,378 · Management $102,206 · Fundraising $0$778,584
Part X · Balance sheet $1,547,385 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $625,898$628,583
X-4 Accounts receivable$2,346
X-8 Inventories for sale or useStart of year $23,943$9,951
X-9 Prepaid expenses and deferred chargesStart of year $3,943$5,600
X-10c Land, buildings and equipment, netStart of year $872,036$854,312
X-15 Other assetsStart of year $66,438$46,593
X-16 Total assetsStart of year $1,592,258$1,547,385
X-17 Accounts payable and accrued expensesStart of year $27,048$46,781
X-25 Other liabilitiesStart of year $62,948$42,383
X-26 Total liabilitiesStart of year $89,996$89,164
X-27 Net assets without donor restrictionsStart of year $1,502,262$1,458,221
X-32 Total net assets or fund balancesStart of year $1,502,262$1,458,221
X-33 Total liabilities and net assetsStart of year $1,592,258$1,547,385
Part XI · Reconciliation of net assets $1,458,221 net assets at year end
XI-1 Total revenue$734,542
XI-2 Total expenses$778,584
XI-3 Revenue less expenses−$44,042
XI-4 Net assets at start of year$1,502,262
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,458,221

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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