Hsb INC FY2024 filing

Public charity (501(c)(3)) Wyoming, MI Since 1999 EIN 80-0144094 NTEE B02
Revenue
$604K
▲ +14%
FY2024 · Pt VIII · Ln 12
Expenses
$594K
▲ +5%
FY2024 · Pt IX · Ln 25
Net assets
$159K
FY2024 · Pt X · Ln 32
To programs
82%
FY2024 · Pt IX · col B
Revenue & expenses by yearFY2020–FY2024
Revenue
$604K
FY2024▲ +14%
Expenses
$594K
FY2024▲ +5%

Strengthen families by providing children educational resources and enrichment opportunities.

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Tax-deductible?
Yes
Per the IRS master file. Details →
Can I give now?
No revocation on IRS record
Not on the IRS revocation list. Details →
Filing up to date?
Filed FY2024 (typical filing lag)
Foundation funders?
1 funder — Natl Christian Charitable Fdn INC
$10K in the latest grant year. Details →
Spent on programs?
82% to programs
Form 990 Part IX, latest filing. Details →
Size and trend
$100K–1M
↑ +14% vs prior year Details →

Form 990 for the fiscal year ending June 2024 (IRS tax year 2023).


Strengthen families by providing children educational resources and enrichment opportunities.

Founded
1999
Type
Public charity (501(c)(3)) · Education
Location
Wyoming, MI
Website
www.mihsb.org
Filings
5 on file (2020–2024)
You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2024) →
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Where the money goes · FY2024
Where spending went · Part IX cols B–D
Program services $0.82 Management & general $0.18
Program efficiency
82%
of spending reaches programs
Operating runway
1.2mo
months of highly liquid reserves at operating expense rate
Surplus margin
+2%
revenue over expenses, this year

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Summary of the Filing

Part I · fiscal year 2024 · Form 990
Total assets
$358K
FY2024▲ +5%
Total liabilities
$200K
FY2024▲ +4%
Revenue less expensesPt I · Ln 19$9K
Total assetsPt X · Ln 16$358K
Program-expense ratioPt IX · col B82%
Voting members of governing bodyPt I · Ln 36
Independent voting membersPt I · Ln 46

Identity & Classification

Form 990 Header · IRS Business Master File
Legal name (IRS)Hdr · item CHsb INC
EINHdr · item D80-0144094
Principal addressHdr · item CWyoming, MI
WebsiteHdr · item Jwww.mihsb.org
Year of formationHdr · item L1999
State of legal domicileHdr · item MMI
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B02)
Ruling yearIRS BMFJul 2008

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a6
Independent voting membersPt VI · Ln 1b6
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 2Yes

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice Preside
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Pres. and Tr
$0Pt VII · Sec A
See Hsb INC executive salaries →

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Mission & Programs · Part III

Where the work happens

1 program service account for $483K of program spending, described in the organization's own filed words · FY2023.
01

We are a community outreach ministry, supporting and strengthening families by providing access to educational resources and enrichment opportunities for children from all backgrounds, levels of need, and schooling affiliations.

$483Kprogram expense

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Statement of Revenue

Part VIII
Program service revenue$418K · 69%
Other revenue$118K · 20%
Contributions & grants$66K · 11%
Program service revenue69%$418K
Other revenue20%$118K
Contributions & grants11%$66K
Investment income$975
Total revenueLn 12$604K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.82 Management & general $0.18
Program services82%$487K
Management & general18%$107K
Total functional expensesLn 25$594K

Balance Sheet

Part X · end of year
CashLn 1$59K
Total assetsLn 16$358K
Total liabilitiesLn 26$200K
Total net assetsLn 32$159K
Months of cash on handcomputed1.2

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $59K · Operating expenses/yr $594K
1.2 months
Where the money goes
Program services
Program services $487K · Total expenses $594K
82%
Management & General
Management & general $107K · Total expenses $594K
18%
Fundraising
Fundraising $0 · Total expenses $594K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $61K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $66K · Total revenue $604K
11%
Government reliance
Government grants — · Total revenue $604K
—
Earned-income share
Program service revenue $418K · Total revenue $604K
69%
Investment reliance
Investment income $975 · Total revenue $604K
+0.2%
Program self-sufficiency
Program service revenue $418K · Total expenses $594K
70%
Growth & trend
Revenue growth (YoY)
This year $604K · Prior year $528K
+14%
Revenue CAGR
FY2019 $474K · FY2023 $604K
+6%
Net-asset trend (YoY)
End of year $159K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $604K · Expenses $594K
+2%
Liabilities-to-Assets
Total liabilities — · Total assets $358K
—
Net-asset ratio
Net assets $159K · Total assets $358K
44%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $358K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Karen Barber · Reported title DIRECTOR · Highest reported compensation $0 · Total expenses $594K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $272K · Total expenses $594K
46%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 82%——
Overhead ratio 18%——
Fundraising cost ratio 0%——
Revenue growth 14%——
Accounting fee ratio 0.1%——

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 · FY2023
Total grants receivedfrom 1 funder$10K

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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$604K revenue · viewing · ⤓ 990 PDF
FY2023$528K revenue · ⤓ 990 PDF
FY2022$581K revenue · ⤓ 990 PDF
FY2021$542K revenue · ⤓ 990 PDF
FY2020$474K 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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