Floyd County Friends FY2020 filing

Tax-deductible

Lockney, TX501(c)(3)Community DevelopmentEIN 75-2593952

Our Primary purpose is to operate and maintain a 38.000 square foot multi-purpose building to serve our 6,000 populated county. We are a community service organization

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
$12K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2020 · 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 $30K a year · 19% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$12K
to officers and key staff · 18% of spending
Fine: pay to officers and key staff is 18% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
17 mo
of spending, in cash
Looks good: 16.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$28K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
15
of 15 voting members
Looks good: 15 of 15 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$62K
Spent
$67K
To programs
100%
Net assets
$1.1M
By yearFY2020–FY2024
Revenue
$62K
FY2020
Revenue by fiscal year
FY2020$62K
FY2021$192K
FY2022$176K
FY2023$184K
FY2024$187K
Expenses
$67K
FY2020
Expenses by fiscal year
FY2020$67K
FY2021$133K
FY2022$161K
FY2023$134K
FY2024$154K
Net assets
$1.1M
FY2020
Net assets by fiscal year
FY2020$1.1M
FY2021$1.2M
FY2022$1.2M
FY2023$1.3M
FY2024$1.3M

From the FY2020 Form 990 · see the original

You’re viewing the FY2020 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 Jan 1996.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $67K

Form 990 Part IX, line 25. Every line is in By the numbers.

Who runs it and what they're paid

20 people listed on the 990; $12K paid to officers and key staff.

Part VII, Section A · reportable compensation
Key Employee
$11,826Pt 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 Members
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Sherry Hacker’s $15K as Key Employee is at the 9th 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 · 1 named individual · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Sherry Hacker$14,842$11,896$11,236$10,646$11,826

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 Floyd County Friends 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides a large, multi-purpose building for community services in a 6,000-person county.

Provided by the organization

This section is blank until Floyd County Friends claims this page.

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3 program services account for $67K of program spending, described in the organization's own filed words · FY2020.
01

Our primary purpose is to operate and maintain our 38,000 square foot multi-purpose building to serve our 6,000 populated county.

$46Kprogram expense
02

Our Annual Gala is a source of operating income for our Unity Center. The 2020 Gala was cancelled due to COVID, but we were able to hold our gala raffle.

$21Kprogram expense
03

Our endowment account is an ongoing program and it is our goal to raise enough funds in this account for the interest made to operate our Unity Center.

$416program expense

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By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$62K
Ln 12
Fees for servicesLn 2g$62K
Other incomeLn 4–11$293
Gifts and grantsLn 1h$287
Money outPt IX
$67K
Ln 25
Programscol B$67K
Owns and owesPt X
$1.1M
net assets · Ln 32
Cash and savingsLn 1–2$93K
Total assetsLn 16$1.2M
LiabilitiesLn 26$28K
PeoplePt VI, VII
20
listed · VII A
PaidVII A1
Voting boardVI 1a15
IndependentVI 1b15
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$287
Government grantsLn 1e$0
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Fees for servicesLn 2g$62K
Investment incomeLn 3$33
Other incomeLn 4–11$293
Total revenueLn 12$62K
Assets in detailPt X, end of year
CashLn 1$931
SavingsLn 2$92K
Cash and savings togetherLn 1–2$93K
InvestmentsLn 11–13$44K
Land, buildings, equipmentLn 10c$1.0M
Total assetsLn 16$1.2M
LiabilitiesLn 26$28K
Net assetsLn 32$1.1M
OperationsPt I, VI
EmployeesI 51
VolunteersI 625
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 FY20End FY20
Cash and savingsLn 1–2$74K$93K
InvestmentsLn 11–13$40K$44K
Land, buildings, equipmentLn 10c$1.0M$1.0M
Total assetsLn 16$1.2M$1.2M
LiabilitiesLn 26$112$28K
Net assetsLn 32$1.2M$1.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0$0
Grants to domestic individualsLn 2$0$0
Grants and assistance to foreign recipientsLn 3$0$0
Pay of current officers, directors and key staffLn 5$12K$12K$0$0
Pay of disqualified personsLn 6$0$0$0$0
Other salaries and wagesLn 7$0$0$0$0
Pension plan contributionsLn 8$0$0$0$0
Other employee benefitsLn 9$0$0$0$0
Payroll taxesLn 10$670$670$0$0
Management feesLn 11a$0$0$0$0
Legal feesLn 11b$0$0$0$0
Accounting feesLn 11c$0$0$0$0
Lobbying feesLn 11d$0$0$0$0
Professional fundraising feesLn 11e$0$0
Investment management feesLn 11f$0$0$0$0
Other fees for servicesLn 11g$0$0$0$0
Advertising and promotionLn 12$0$0$0$0
Office expensesLn 13$23K$23K$0$0
Information technologyLn 14$0$0$0$0
RoyaltiesLn 15$0$0$0$0
OccupancyLn 16$19K$19K$0$0
TravelLn 17$0$0$0$0
Travel and entertainment for public officialsLn 18$0$0$0$0
Conferences, conventions and meetingsLn 19$0$0$0$0
InterestLn 20$0$0$0$0
Payments to affiliatesLn 21$0$0$0$0
Depreciation, depletion and amortizationLn 22$0$0$0$0
InsuranceLn 23$0$0$0$0
Other expenses (24a–d)Ln 24$13K$13K$0$0
All other expensesLn 24e$0$0$0$0
Total functional expensesLn 25$67K$67K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $187K$154K$33K$1.3M 990 PDF
FY2023 $184K$134K$50K$1.3M 990 PDF
FY2022 $176K$161K$15K$1.2M 990 PDF
FY2021 $192K$133K$59K$1.2M 990 PDF
FY2020 Viewing $62K$67K−$5K$1.1M 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 (4 parts)
Part VIII · Statement of revenue $62,499 across 13 lines filed
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$0
VIII-1f All other contributions, gifts and grants$287
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$287
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $61,886 · Unrelated business $0 · Excluded from tax $0$61,886
VIII-3 Investment incomeRelated to mission $33 · Unrelated business $0 · Excluded from tax $0$33
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $293 · Unrelated business $0 · Excluded from tax $0$293
VIII-12 Total revenueRelated to mission $62,212 · Unrelated business $0 · Excluded from tax $0$62,499
Part IX · Statement of functional expenses $67,217 across 30 lines filed
IX-1 Grants to domestic organizationsPrograms $0$0
IX-2 Grants to domestic individualsPrograms $0$0
IX-3 Grants and assistance to foreign recipientsPrograms $0$0
IX-5 Pay of current officers, directors and key staffPrograms $11,826 · Management $0 · Fundraising $0$11,826
IX-6 Pay of disqualified personsPrograms $0 · Management $0 · Fundraising $0$0
IX-7 Other salaries and wagesPrograms $0 · Management $0 · Fundraising $0$0
IX-8 Pension plan contributionsPrograms $0 · Management $0 · Fundraising $0$0
IX-9 Other employee benefitsPrograms $0 · Management $0 · Fundraising $0$0
IX-10 Payroll taxesPrograms $670 · Management $0 · Fundraising $0$670
IX-11a Management feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11b Legal feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11c Accounting feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11d Lobbying feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11e Professional fundraising feesFundraising $0$0
IX-11f Investment management feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11g Other fees for servicesPrograms $0 · Management $0 · Fundraising $0$0
IX-12 Advertising and promotionPrograms $0 · Management $0 · Fundraising $0$0
IX-13 Office expensesPrograms $22,738 · Management $0 · Fundraising $0$22,738
IX-14 Information technologyPrograms $0 · Management $0 · Fundraising $0$0
IX-15 RoyaltiesPrograms $0 · Management $0 · Fundraising $0$0
IX-16 OccupancyPrograms $18,527 · Management $0 · Fundraising $0$18,527
IX-17 TravelPrograms $0 · Management $0 · Fundraising $0$0
IX-18 Travel and entertainment for public officialsPrograms $0 · Management $0 · Fundraising $0$0
IX-19 Conferences, conventions and meetingsPrograms $0 · Management $0 · Fundraising $0$0
IX-20 InterestPrograms $0 · Management $0 · Fundraising $0$0
IX-21 Payments to affiliatesPrograms $0 · Management $0 · Fundraising $0$0
IX-22 Depreciation, depletion and amortizationPrograms $0 · Management $0 · Fundraising $0$0
IX-23 InsurancePrograms $0 · Management $0 · Fundraising $0$0
IX-24 Other expenses (24a–d)Programs $13,456 · Management $0 · Fundraising $0$13,456
IX-24e All other expensesPrograms $0 · Management $0 · Fundraising $0$0
IX-25 Total functional expensesPrograms $67,217 · Management $0 · Fundraising $0$67,217
Part X · Balance sheet $1,175,604 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $4,242$931
X-2 Savings and temporary cash investmentsStart of year $69,946$91,955
X-4 Accounts receivableStart of year $0$895
X-10c Land, buildings and equipment, netStart of year $1,038,182$1,038,182
X-13 Program-related investmentsStart of year $39,702$43,641
X-16 Total assetsStart of year $1,152,072$1,175,604
X-17 Accounts payable and accrued expensesStart of year $112$1,912
X-19 Deferred revenueStart of year $0$26,450
X-26 Total liabilitiesStart of year $112$28,362
X-27 Net assets without donor restrictionsStart of year $721,460$716,742
X-28 Net assets with donor restrictionsStart of year $430,500$430,500
X-32 Total net assets or fund balancesStart of year $1,151,960$1,147,242
X-33 Total liabilities and net assetsStart of year $1,152,072$1,175,604
Part XI · Reconciliation of net assets $1,147,242 net assets at year end
XI-1 Total revenue$62,499
XI-2 Total expenses$67,217
XI-3 Revenue less expenses−$4,718
XI-4 Net assets at start of year$1,151,960
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,147,242

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

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