Cola Resources INC: FY2021 Nonprofit Profile & Form 990 (EIN 80-0875539)

Revenue by fiscal year
FY2020	$687K
FY2021	$535K
FY2022	$171K

Expenses by fiscal year
FY2020	$850K
FY2021	$752K
FY2022	$394K

Net assets by fiscal year
FY2020	$10K
FY2021	−$194K
FY2022	$0

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2022.

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

Where the money goes

95 cents of each dollar spent went to programs.

95%

Program services 95% · $715K Management & general 5% · $38K

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

3 people listed on the 990; $239K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII

James E Liggins

CEO and Chairman Og the Board

$238,632Pt VII · Sec A

Barry Craig

Director

$0Pt VII · Sec A

Jeanne Mumford

Director

$0Pt VII · Sec A

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

Name	FY2021	FY2020
James E Liggins	$238,632	$218,311

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

Improves lab medicine and patient care through education and consulting.

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Provided by the organization

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1 program · $715K · in their own filed words · FY2020

01

Cola Resources, Inc. provides educational and consultive services to healthcare professionals with the goal of instructing and training these individuals to improve their skills and perform higher quality services for the communities they serve.The Educational and Consulting Programs have one overriding goal: To improve laboratory…

$715Kprogram expense

By the numbers

The FY2021 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$535K

Ln 12

Fees for servicesLn 2g$416K

Other incomeLn 4–11$118K

Money outPt IX

$752K

Ln 25

Programscol B$715K

Managementcol C$38K

Owns and owesPt X

−$194K

net assets · Ln 32

Cash and savingsLn 1–2$106K

Total assetsLn 16$298K

LiabilitiesLn 26$492K

PeoplePt VI, VII

3

listed · VII A

PaidVII A1

Voting boardVI 1a3

IndependentVI 1b2

2In more detail

Revenue in detailPt VIII

Fees for servicesLn 2g$416K

Other incomeLn 4–11$118K

Total revenueLn 12$535K

Assets in detailPt X, end of year

CashLn 1$106K

Cash and savings togetherLn 1–2$106K

Land, buildings, equipmentLn 10c$58K

Other assetsLn 15$126K

Total assetsLn 16$298K

LiabilitiesLn 26$492K

Net assetsLn 32−$194K

OperationsPt I, VI

EmployeesI 57

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

Line	Start FY21	End FY21
Cash and savingsLn 1–2	$162K	$106K
Land, buildings, equipmentLn 10c	$70K	$58K
Total assetsLn 16	$373K	$298K
LiabilitiesLn 26	$363K	$492K
Net assetsLn 32	$10K	−$194K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Pay of current officers, directors and key staffLn 5	$239K	$227K	$12K
Other salaries and wagesLn 7	$424K	$403K	$21K
Accounting feesLn 11c	$978	$929	$49
Office expensesLn 13	$607	$577	$30
Information technologyLn 14	$32K	$31K	$2K
OccupancyLn 16	$10K	$9K	$458
InterestLn 20	$1K	$981	$52
Depreciation, depletion and amortizationLn 22	$752	$752
InsuranceLn 23	$3K	$3K	$155
Other expenses (24a–d)Ln 24	$37K	$35K	$2K
All other expensesLn 24e	$4K	$4K	$213
Total functional expensesLn 25	$752K	$715K	$38K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2022 Latest	$171K	$394K	−$222K	$0	990 PDF
FY2021 Viewing	$535K	$752K	−$218K	−$194K	990 PDF
FY2020	$687K	$850K	−$162K	$10K	990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants J · Pay O · Explanations

See the full FY2021 990 (6 parts)

Part I · Summary $534,657 revenue, 12 lines filed

I-8 Contributions and grants$0

I-9 Program service revenuePrior year $687,437$416,309

I-10 Investment income$0

I-11 Other revenue$118,348

I-12 Total revenuePrior year $687,437$534,657

I-13 Grants and similar amounts paid$0

I-14 Benefits paid to members$0

I-15 Salaries and benefitsPrior year $632,873$662,464

I-16a Professional fundraising fees$0

I-17 Other expensesPrior year $216,689$89,715

I-18 Total expensesPrior year $849,562$752,179

I-19 Revenue less expensesPrior year −$162,125−$217,522

Part VI · Governance 2 of 3 board members independent, no flags

VI-1a Voting members of the governing body3

VI-1b Independent voting members2

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 $534,657 across 3 lines filed

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Excluded from tax $416,309$416,309

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $118,348$118,348

VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $534,657$534,657

Part IX · Statement of functional expenses $752,179 across 11 lines filed

IX-5 Pay of current officers, directors and key staffPrograms $226,700 · Management $11,933$238,633

IX-7 Other salaries and wagesPrograms $402,638 · Management $21,193$423,831

IX-11c Accounting feesPrograms $929 · Management $49$978

IX-13 Office expensesPrograms $577 · Management $30$607

IX-14 Information technologyPrograms $30,716 · Management $1,617$32,333

IX-16 OccupancyPrograms $9,345 · Management $458$9,803

IX-20 InterestPrograms $981 · Management $52$1,033

IX-22 Depreciation, depletion and amortizationPrograms $752$752

IX-23 InsurancePrograms $2,945 · Management $155$3,100

IX-24 Other expenses (24a–d)Programs $34,996 · Management $1,842$36,838

IX-24e All other expensesPrograms $4,058 · Management $213$4,271

IX-25 Total functional expensesPrograms $714,637 · Management $37,542 · Fundraising $0$752,179

Part X · Balance sheet $297,603 assets, 13 lines filed

X-1 Cash, non-interest-bearingStart of year $161,629$106,242

X-4 Accounts receivableStart of year $14,725$6,840

X-9 Prepaid expenses and deferred chargesStart of year $1,500$1,061

X-10c Land, buildings and equipment, netStart of year $69,620$57,851

X-15 Other assetsStart of year $125,609$125,609

X-16 Total assetsStart of year $373,083$297,603

X-17 Accounts payable and accrued expensesStart of year $7,833$12,711

X-24 Unsecured notes and loans payableStart of year $114,072$74,977

X-25 Other liabilitiesStart of year $240,721$403,994

X-26 Total liabilitiesStart of year $362,626$491,682

X-27 Net assets without donor restrictionsStart of year $10,457−$194,079

X-32 Total net assets or fund balancesStart of year $10,457−$194,079

X-33 Total liabilities and net assetsStart of year $373,083$297,603

Part XI · Reconciliation of net assets −$194,079 net assets at year end

XI-1 Total revenue$534,657

XI-2 Total expenses$752,179

XI-3 Revenue less expenses−$217,522

XI-4 Net assets at start of year$10,457

XI-8 Prior period adjustments$12,986

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year−$194,079

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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Cola Resources INC FY2021 filing

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