Libbies Place EIN 76-0671021 Form 990 (PDF) Claim this org

Libbies Place

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Helps older adults with daily tasks and supports their caregivers in Galveston. For fiscal year 2024 it reported $542K in revenue, $538K in expenses, and $585K in net assets.Pt I

Type
Supporting organization · Human Services
Location
Galveston, TX
Website
www.libbies.org
Filings
5 on file (2020–2024)
Revenue
$542KFY2024
Expenses
$538K
Net assets
$585K
People
10
Filings
5
Updates
0
More identity details & actions ⌄
EIN  76-0671021 Supporting organization Galveston, TX
Form 990 (PDF)
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Size
$100K–1M
What they do
Helps older adults with daily tasks and supports their caregivers in Galveston.
Leadership
Corinne Rhoades · Chief Executive Officer · $68K
Money in and out
$542K revenue, $538K expenses
Bottom line
+0.8% net inflow
Money in and out · FY2024
Total revenue
$542K
Pt VIII · Ln 12
Total expenses
$538K
Pt IX · Ln 25
Net assets
$585K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $4K
Where spending went · Part IX cols B–D
Program services $0.82 Management & general $0.13 Fundraising $0.05
Net inflow
+0.8%
revenue over expenses, this year▼ -96% vs prior filing year
Pass-through gifts
45%
of revenue from contributions▼ -18% vs prior filing year
Program spending
82%
of expenses reach stated programs▲ +3% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$542K
FY2024▼ -0.9%
Expenses
$538K
FY2024▲ +21%
Total assets
$594K
FY2024+0.06%
Total liabilities
$9K
FY2024▼ -30%
Total revenue
$542K
Pt VIII · Ln 12
Total expenses
$538K
Pt IX · Ln 25
Net assets
$585K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$4K
Total assetsPt X · Ln 16$594K
Program-expense ratioPt IX · col B82%
Voting members of governing bodyPt I · Ln 39
Independent voting membersPt I · Ln 49

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CLibbies Place
EINHdr · item D76-0671021
Principal addressHdr · item CGalveston, TX
WebsiteHdr · item Jwww.libbies.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MTX
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHuman Services (P80)
Ruling yearIRS BMFJul 2002

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a9
Independent voting membersPt VI · Ln 1b9
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Chief Executive Officer
$68,250Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Corinne Rhoades’s $68K as Chief Executive Officer is at the 59th 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
Corinne Rhoades$68,250$65,000$65,000$55,000$55,000

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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Mission & Programs · Part III

Where the work happens

1 program service account for $444K of program spending, described in the organization's own filed words · FY2024.
01

Provide older adults compassionate assistance with daily living activitiesand caregiver support for galveston, TX and the surrounding communities.

$444Kprogram expense

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Statement of Revenue

Part VIII
Program service revenue$261K · 48%
Contributions & grants$246K · 45%
Other revenue$32K · 6%
Investment income$4K · 1%
Program service revenue48%$261K
Contributions & grants45%$246K
Other revenue6%$32K
Investment income1%$4K
Total revenueLn 12$542K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.82 Management & general $0.13 Fundraising $0.05
Program services82%$444K
Management & general13%$68K
Fundraising5%$26K
Total functional expensesLn 25$538K

Balance Sheet

Part X · end of year
CashLn 1$438K
Total assetsLn 16$594K
Total liabilitiesLn 26$9K
Total net assetsLn 32$585K
Months of cash on handcomputed9.8

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $438K · Operating expenses (Pt IX) $538K · Less non-cash grants $48K · Cash operating expenses/yr $490K
10.7 months
Where the money goes
Program services
Program services $444K · Total expenses $538K
82%
Management & General
Management & general $68K · Total expenses $538K
13%
Fundraising
Fundraising $26K · Total expenses $538K
5%
Cost to raise $1
Fundraising expense (3-yr avg) $25K · Solicited contributions (3-yr avg) $212K
$0.12 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $246K · Total revenue $542K
45%
Government reliance
Government grants — · Total revenue $542K
Earned-income share
Program service revenue $261K · Total revenue $542K
48%
Investment reliance
Investment income $4K · Total revenue $542K
+0.7%
Program self-sufficiency
Program service revenue $261K · Total expenses $538K
48%
Growth & trend
Revenue growth (YoY)
This year $542K · Prior year $547K
-0.9%
Revenue CAGR
FY2020 $325K · FY2024 $542K
+14%
Net-asset trend (YoY)
End of year $585K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $542K · Expenses $538K
+0.8%
Liabilities-to-Assets
Total liabilities — · Total assets $594K
Net-asset ratio
Net assets $585K · Total assets $594K
99%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $594K
0%
People & payroll
Highest Reported Total Compensation
Individual Corinne Rhoades · Reported title CHIEF EXECUTIVE OFFICER · Highest reported compensation $68K · Total expenses $538K
13%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $321K · Total expenses $538K
60%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 82%
Overhead ratio 13%
Fundraising cost ratio 11%
Revenue growth -0.9%
Investment management fee ratio 0%
Legal fee ratio 0%
Accounting fee ratio 2%
Fundraising fee ratio 0%

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.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$469K

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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
FY2024 (Latest)$542K revenue · viewing · ⤓ 990 PDF
FY2023$547K revenue · ⤓ 990 PDF
FY2022$336K revenue · ⤓ 990 PDF
FY2021$628K revenue · ⤓ 990 PDF
FY2020$325K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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