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Asset Building Network

Tax-deductible

Houston, TX501(c)(3)Human Services EIN 76-0693640Revenue $290K in FY2020Latest return filed May 25, 2021

On file with the IRSassetbuildingnetworkinc.orgPo Box 711212, 77271-1212 · Houston, TXTax-exempt since Feb 2002Publicly supported charity — 170(b)(1)(A)(vi)

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Build and restore individuals and families to achieve self-sufficiency through the provision of Case Management Services, Supportive Housing, Employment, Money Management

501(c)(3) charity; gifts are tax-deductible.
92¢ of each $1 spent went to programs.
Run by 4 volunteers and 4 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

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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
FY2020
latest Form 990
Concern: the latest return is for FY2020, 6 tax years back; more than 4 tax years.
IRS e-file · Filing history
Spent on programs
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$96K
to officers and key staff · 23% of spending
Top officer’s pay higher than 96% of similar orgs
Worth a look: pay to officers and key staff is 23% of spending; over 20%.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.9 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$136K
370% of total assets
Concern: liabilities are 370% of assets; over 80%.
Pt X · Ln 26
Independent board members
4
of 5 voting members
Looks good: 4 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$290K
Spent
$415K
To programs
92%
Net assets
−$99K

From the FY2020 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2020. IRS ruling in Feb 2002.

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

Where the money goes

92 cents of each dollar spent went to programs.

Program services 92% · $383K Management & general 8% · $32K

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

5 people listed on the 990; $96K paid to officers and key staff.

Part VII, Section A · reportable compensation
$96,500Pt VII · Sec A
Dana Hogan
Board Chairman
$0Pt VII · Sec A
Enobong Udofia
Board Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Chris Hudson
Board Chairman Emeritus
$0Pt VII · Sec A

Glory Udoh M Ed’s $96K as Exec Dir is at the 96th percentile of top reported officer pay among 202 <$100K 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.

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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 15aNo

Programs and updates

Provides housing, job training, and financial help to empower people and families.

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Provided by the organization

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1 program · $383K · in their own filed words · FY2020
01

TIP program is a 6-12 month 25 bed residential support program in which homeless veterans receive intensive case management, group therapy, and housing stability

$383Kprogram expense

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$290K
Ln 12
Gifts and grantsLn 1h$246K
Fees for servicesLn 2g$44K
Money outPt IX
$415K
Ln 25
Programscol B$383K
Managementcol C$32K
Owns and owesPt X
−$99K
net assets · Ln 32
Cash and savingsLn 1–2$32K
Total assetsLn 16$37K
LiabilitiesLn 26$136K
PeoplePt VI, VII
5
listed · VII A
PaidVII A1
Voting boardVI 1a5
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$246K
Government grantsLn 1e$245K
Fees for servicesLn 2g$44K
Total revenueLn 12$290K
Assets in detailPt X, end of year
CashLn 1$32K
Cash and savings togetherLn 1–2$32K
Land, buildings, equipmentLn 10c$5K
Total assetsLn 16$37K
LiabilitiesLn 26$136K
Net assetsLn 32−$99K
OperationsPt I, VI
EmployeesI 54
VolunteersI 64
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 FY20End FY20
Cash and savingsLn 1–2$66K$32K
Land, buildings, equipmentLn 10c$5K$5K
Total assetsLn 16$70K$37K
LiabilitiesLn 26$47K$136K
Net assetsLn 32$24K−$99K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$96K$87K$10K$0
Other salaries and wagesLn 7$143K$128K$14K$0
Other employee benefitsLn 9$12K$11K$1K$0
Payroll taxesLn 10$21K$19K$2K$0
Legal feesLn 11b$385$0$385$0
Accounting feesLn 11c$3K$3K$338$0
Other fees for servicesLn 11g$550$0$550$0
Office expensesLn 13$667$375$292$0
Information technologyLn 14$150$0$150$0
OccupancyLn 16$138K$135K$3K$0
TravelLn 17$20$0$20$0
InsuranceLn 23−$191$0−$191$0
Other expenses (24a–d)Ln 24$515$504$11$0
Total functional expensesLn 25$415K$383K$32K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2020 Latest ViewingFiled with the IRS May 25, 2021 $290K$415K−$125K−$99K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $290,104 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $491,107$246,471
I-9 Program service revenuePrior year $88,188$43,633
I-10 Investment incomePrior year $10,388$0
I-11 Other revenue$0
I-12 Total revenuePrior year $589,683$290,104
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $312,428$271,974
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $248,724$143,346
I-18 Total expensesPrior year $561,152$415,320
I-19 Revenue less expensesPrior year $28,531−$125,216
Part VI · Governance 4 of 5 board members independent, 2 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members4
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $290,104 across 5 lines filed
VIII-1e Government grants$245,071
VIII-1f All other contributions, gifts and grants$1,400
VIII-1h Total contributions, gifts and grants$246,471
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Unrelated business $0 · Excluded from tax $0$43,633
VIII-12 Total revenueRelated to mission $43,633 · Unrelated business $0 · Excluded from tax $0$290,104
Part IX · Statement of functional expenses $415,320 across 13 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $86,850 · Management $9,650 · Fundraising $0$96,500
IX-7 Other salaries and wagesPrograms $128,350 · Management $14,261 · Fundraising $0$142,611
IX-9 Other employee benefitsPrograms $10,550 · Management $1,172 · Fundraising $0$11,722
IX-10 Payroll taxesPrograms $19,027 · Management $2,114 · Fundraising $0$21,141
IX-11b Legal feesPrograms $0 · Management $385 · Fundraising $0$385
IX-11c Accounting feesPrograms $2,584 · Management $338 · Fundraising $0$2,922
IX-11g Other fees for servicesPrograms $0 · Management $550 · Fundraising $0$550
IX-13 Office expensesPrograms $375 · Management $292 · Fundraising $0$667
IX-14 Information technologyPrograms $0 · Management $150 · Fundraising $0$150
IX-16 OccupancyPrograms $134,926 · Management $3,402 · Fundraising $0$138,328
IX-17 TravelPrograms $0 · Management $20 · Fundraising $0$20
IX-23 InsurancePrograms $0 · Management −$191 · Fundraising $0−$191
IX-24 Other expenses (24a–d)Programs $504 · Management $11 · Fundraising $0$515
IX-25 Total functional expensesPrograms $383,166 · Management $32,154 · Fundraising $0$415,320
Part X · Balance sheet $36,694 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $65,521$31,751
X-10c Land, buildings and equipment, netStart of year $4,943$4,943
X-16 Total assetsStart of year $70,464$36,694
X-17 Accounts payable and accrued expensesStart of year $3,604$4,376
X-18 Grants payableStart of year $43,237$131,452
X-26 Total liabilitiesStart of year $46,841$135,828
X-27 Net assets without donor restrictionsStart of year $23,623−$99,134
X-32 Total net assets or fund balancesStart of year $23,623−$99,134
X-33 Total liabilities and net assetsStart of year $70,464$36,694
Part XI · Reconciliation of net assets −$99,134 net assets at year end
XI-1 Total revenue$290,104
XI-2 Total expenses$415,320
XI-3 Revenue less expenses−$125,216
XI-4 Net assets at start of year$23,623
XI-8 Prior period adjustments$2,459
XI-10 Net assets at end of year−$99,134

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

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