Twocor Projects FY2020 filing

Colorado Springs, COUnknown exempt organizationEIN 72-1566504Revenue $1.2M in FY2020

On file with the IRStwocor.org2722 Logan Circle · Colorado Springs, CO

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Provides vocational and counceling services to males and female youths who have had legal and mental health concerns.

60¢ of each $1 spent went to programs.
$95K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

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FY2020 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2021
latest Form 990
Concern: the latest return is for FY2021, 5 tax years back; more than 4 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 2
filings with a surplus
Average deficit $272K a year · 38% of revenue · last 2 filings
Worth a look: a surplus in 1 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
60%
of spending
Worth a look: 60% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$95K
to officers and key staff · 8% of spending
Looks good: pay to officers and key staff is 8% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
6 mo
of spending, in cash
Looks good: 5.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $6K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$30K
5% of total assets
Looks good: liabilities are 5% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.2M
Spent
$1.1M
To programs
60%
Net assets
$597K
By yearFY2020–FY2021
Revenue
$1.2M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$1.2M
FY2021$256K
Expenses
$1.1M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$1.1M
FY2021$854K
Net assets
$597K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$597K
FY2021$0

From the FY2020 Form 990 (year ending June 2020) · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2021) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2021.

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

Where the money goes

60 cents of each dollar spent went to programs.

Program services 60% · $675K Management & general 39% · $438K Fundraising 1% · $17K

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

11 people listed on the 990; $95K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Executive Di
$94,615Pt VII · Sec A
Vice Preside
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2021FY2020
James Hinkle$99,533$94,615

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

Helps young people with legal and mental health issues find jobs and get counseling.

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Provided by the organization

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1 program · $675K · in their own filed words · FY2019
01

The vocational program provides construction, auto maintenance, plumbing and other vocational skills.

$675Kprogram 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 · FY2021
Total grants receivedfrom 1 funder$6K
Grants paid · 4 grants · $35K · 2020–2020
Rocky Mountain Kids INCCO · FY2020$13,000
Family PromiseCO · FY2020$10,000
Peaceful HouseholdsFL · FY2020$6,000
Fostering Hope FoundationCO · FY2020$6,000

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$1.2M
Ln 12
Gifts and grantsLn 1h$838K
Fees for servicesLn 2g$228K
Other incomeLn 4–11$116K
Money outPt IX
$1.1M
Ln 25
Programscol B$675K
Managementcol C$438K
Fundraisingcol D$17K
Owns and owesPt X
$597K
net assets · Ln 32
Cash and savingsLn 1–2$520K
Total assetsLn 16$627K
LiabilitiesLn 26$30K
PeoplePt VI, VII
11
listed · VII A
PaidVII A1
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$838K
Government grantsLn 1e$316K
Fees for servicesLn 2g$228K
Investment incomeLn 3$2K
Other incomeLn 4–11$116K
Gains on assetsLn 7$646
Total revenueLn 12$1.2M
Assets in detailPt X, end of year
CashLn 1$283K
SavingsLn 2$237K
Cash and savings togetherLn 1–2$520K
Land, buildings, equipmentLn 10c$72K
Total assetsLn 16$627K
LiabilitiesLn 26$30K
Net assetsLn 32$597K
OperationsPt I, VI
EmployeesI 538
VolunteersI 610
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$439K$520K
Land, buildings, equipmentLn 10c$71K$72K
Total assetsLn 16$580K$627K
LiabilitiesLn 26$36K$30K
Net assetsLn 32$543K$597K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$111K$100K$11K
Other salaries and wagesLn 7$611K$468K$138K$4K
Other employee benefitsLn 9$17K$17K
Payroll taxesLn 10$59K$40K$19K
Accounting feesLn 11c$4K$4K
Other fees for servicesLn 11g$5K$355$5K
Advertising and promotionLn 12$21K$4K$16K$1K
Office expensesLn 13$61K$19K$42K
OccupancyLn 16$61K$55K$6K
TravelLn 17$22K$10K$12K
Conferences, conventions and meetingsLn 19$3K$3K
Depreciation, depletion and amortizationLn 22$22K$13K$9K
InsuranceLn 23$78K$26K$52K
Other expenses (24a–d)Ln 24$54K$40K$14K
All other expensesLn 24e$2K$2K
Total functional expensesLn 25$1.1M$675K$438K$17K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2021 Latest $256K$854K−$597K$0 990 PDF
FY2020 Viewing $1.2M$1.1M$54K$597K 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 FY2020 990 (6 parts)
Part I · Summary $1,183,689 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $789,246$837,822
I-9 Program service revenuePrior year $336,143$228,199
I-10 Investment incomePrior year $1,159$1,920
I-11 Other revenuePrior year $44,282$115,748
I-12 Total revenuePrior year $1,170,830$1,183,689
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $753,422$797,501
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $344,039$332,171
I-18 Total expensesPrior year $1,097,461$1,129,672
I-19 Revenue less expensesPrior year $73,369$54,017
Part VI · Governance 10 of 10 board members independent, no flags
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,183,689 across 9 lines filed
VIII-1e Government grants$315,729
VIII-1f All other contributions, gifts and grants$522,093
VIII-1h Total contributions, gifts and grants$837,822
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $228,199$228,199
VIII-3 Investment incomeExcluded from tax $1,274$1,274
VIII-7 Net gain or loss on sales of assetsRelated to mission $646$646
VIII-8 Net income from fundraising events$22,450
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $93,298$93,298
VIII-12 Total revenueRelated to mission $322,143 · Excluded from tax $1,274$1,183,689
Part IX · Statement of functional expenses $1,129,672 across 15 lines filed
IX-5 Pay of current officers, directors and key staffManagement $99,705 · Fundraising $11,078$110,783
IX-7 Other salaries and wagesPrograms $468,428 · Management $138,103 · Fundraising $4,416$610,947
IX-9 Other employee benefitsManagement $16,981$16,981
IX-10 Payroll taxesPrograms $39,806 · Management $18,984$58,790
IX-11c Accounting feesManagement $4,050$4,050
IX-11g Other fees for servicesPrograms $355 · Management $4,936$5,291
IX-12 Advertising and promotionPrograms $3,513 · Management $16,075 · Fundraising $1,335$20,923
IX-13 Office expensesPrograms $19,225 · Management $41,671$60,896
IX-16 OccupancyPrograms $54,947 · Management $5,618$60,565
IX-17 TravelPrograms $9,735 · Management $11,883$21,618
IX-19 Conferences, conventions and meetingsManagement $2,850$2,850
IX-22 Depreciation, depletion and amortizationPrograms $13,239 · Management $9,015$22,254
IX-23 InsurancePrograms $25,534 · Management $52,084$77,618
IX-24 Other expenses (24a–d)Programs $40,089 · Management $14,113$54,202
IX-24e All other expensesManagement $1,904$1,904
IX-25 Total functional expensesPrograms $674,871 · Management $437,972 · Fundraising $16,829$1,129,672
Part X · Balance sheet $626,948 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $243,333$282,549
X-2 Savings and temporary cash investmentsStart of year $195,790$237,420
X-4 Accounts receivableStart of year $64,816$26,666
X-9 Prepaid expenses and deferred chargesStart of year $2,158$8,306
X-10c Land, buildings and equipment, netStart of year $70,619$72,007
X-16 Total assetsStart of year $579,619$626,948
X-17 Accounts payable and accrued expensesStart of year $36,278$29,590
X-26 Total liabilitiesStart of year $36,278$29,590
X-27 Net assets without donor restrictionsStart of year $542,682$597,358
X-32 Total net assets or fund balancesStart of year $543,341$597,358
X-33 Total liabilities and net assetsStart of year $579,619$626,948
Part XI · Reconciliation of net assets $597,358 net assets at year end
XI-1 Total revenue$1,183,689
XI-2 Total expenses$1,129,672
XI-3 Revenue less expenses$54,017
XI-4 Net assets at start of year$543,341
XI-10 Net assets at end of year$597,358

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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