Powered Foods FY2020 filing

Kalispell, MTUnknown exempt organizationEIN 81-4554350Revenue $266K in FY2020

On file with the IRSpoweredfoods.comPo Box 10100 · Kalispell, MT

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To develop technical solutions in food production, optimize nutrition and energy in food for increased health, and educate the public about these developments and solutions.

100¢ of each $1 spent went to programs.
$110K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2022
latest Form 990
Worth a look: the latest return is for FY2022, 4 tax years back; more than 3 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 3
filings with a surplus
Average surplus $23K a year · 17% of revenue · last 3 filings
Fine: a surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 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
$110K
to officers and key staff · 55% of spending
Concern: pay to officers and key staff is 55% of spending; over 30%.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Concern: -0.2 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $19K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.4M
96% of total assets
Concern: liabilities are 96% of assets; over 80%.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$266K
Spent
$202K
To programs
100%
Net assets
$58K
By yearFY2020–FY2022
Revenue
$266K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$266K
FY2021$81K
FY2022$52K
Expenses
$202K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$202K
FY2021$63K
FY2022$65K
Net assets
$58K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$58K
FY2021$14K
FY2022$0

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: FY2022.

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% · $202K

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

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Who runs it and what they're paid

4 people listed on the 990; $110K paid to officers and key staff.

Part VII, Section A · reportable compensation
Trustee and Vice President
$60,000Pt VII · Sec A
Trustee and President
$50,000Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Powered Foods 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

Develops food tech, optimizes nutrition and energy for health, and educates the public.

Questions for Powered Foods

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Provided by the organization

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3 programs · $202K · in their own filed words · FY2020
01

Develop technical solutions in food production science, to optimize nutrition and energy in food for increased health. Began developing this line of activity in 2018. Please see Schedule O for details.

$202Kprogram expense
02

Educate the Public About These Developments and Solutions

this is a future activity.

Pt IX · col B
03

Youth Bee Works Activities

no activity in 2020.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2023
Total grants receivedfrom 1 funder$19K
Grants paid · 1 grant · $60K · 2022–2022
Flathead Food Bank INCMT · FY2022$59,613

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$266K
Ln 12
Gifts and grantsLn 1h$265K
Other incomeLn 4–11$671
Money outPt IX
$202K
Ln 25
Programscol B$202K
Owns and owesPt X
$58K
net assets · Ln 32
Cash and savingsLn 1–2−$3K
Total assetsLn 16$1.4M
LiabilitiesLn 26$1.4M
PeoplePt VI, VII
4
listed · VII A
PaidVII A2
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$265K
Government grantsLn 1e$0
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Other incomeLn 4–11$671
Total revenueLn 12$266K
Assets in detailPt X, end of year
CashLn 1−$3K
SavingsLn 2$0
Cash and savings togetherLn 1–2−$3K
Land, buildings, equipmentLn 10c$1.4M
Total assetsLn 16$1.4M
LiabilitiesLn 26$1.4M
Net assetsLn 32$58K
OperationsPt I, VI
EmployeesI 50
VolunteersI 63
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
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$13K−$3K
Land, buildings, equipmentLn 10c$1.4M$1.4M
Total assetsLn 16$1.4M$1.4M
LiabilitiesLn 26$1.4M$1.4M
Net assetsLn 32−$6K$58K
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
Benefits paid to or for membersLn 4$0$0
Pay of current officers, directors and key staffLn 5$0$0$0$0
Pay of disqualified personsLn 6$0$0$0$0
Other salaries and wagesLn 7$110K$110K$0$0
Pension plan contributionsLn 8$0$0$0$0
Other employee benefitsLn 9$0$0$0$0
Payroll taxesLn 10$0$0$0$0
Management feesLn 11a$0$0$0$0
Legal feesLn 11b$1K$1K$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$3K$3K$0$0
Advertising and promotionLn 12$28K$28K$0$0
Office expensesLn 13$10K$10K$0$0
Information technologyLn 14$0$0$0$0
RoyaltiesLn 15$0$0$0$0
OccupancyLn 16$21K$21K$0$0
TravelLn 17$19K$19K$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$10K$10K$0$0
All other expensesLn 24e$30$30$0$0
Total functional expensesLn 25$202K$202K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2022 Latest $52K$65K−$14K$0 990 PDF
FY2021 $81K$63K$18K$14K 990 PDF
FY2020 Viewing $266K$202K$64K$58K 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 (6 parts)
Part I · Summary $265,871 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $188,189$265,200
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$671
I-12 Total revenuePrior year $188,189$265,871
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $10,000$110,000
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $186,859$91,651
I-18 Total expensesPrior year $196,859$201,651
I-19 Revenue less expensesPrior year −$8,670$64,220
Part VI · Governance 3 of 3 board members independent, 4 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $265,871 across 9 lines filed
Lines not itemized here account for $671 of total revenue; see the IRS return.
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$265,200
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$265,200
VIII-12 Total revenueRelated to mission $671 · Unrelated business $0 · Excluded from tax $0$265,871
Part IX · Statement of functional expenses $201,651 across 31 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-4 Benefits paid to or for membersPrograms $0$0
IX-5 Pay of current officers, directors and key staffPrograms $0 · Management $0 · Fundraising $0$0
IX-6 Pay of disqualified personsPrograms $0 · Management $0 · Fundraising $0$0
IX-7 Other salaries and wagesPrograms $110,000 · Management $0 · Fundraising $0$110,000
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 $0 · Management $0 · Fundraising $0$0
IX-11a Management feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11b Legal feesPrograms $1,478 · Management $0 · Fundraising $0$1,478
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 $3,000 · Management $0 · Fundraising $0$3,000
IX-12 Advertising and promotionPrograms $27,600 · Management $0 · Fundraising $0$27,600
IX-13 Office expensesPrograms $9,755 · Management $0 · Fundraising $0$9,755
IX-14 Information technologyPrograms $0 · Management $0 · Fundraising $0$0
IX-15 RoyaltiesPrograms $0 · Management $0 · Fundraising $0$0
IX-16 OccupancyPrograms $21,245 · Management $0 · Fundraising $0$21,245
IX-17 TravelPrograms $18,901 · Management $0 · Fundraising $0$18,901
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 $9,642 · Management $0 · Fundraising $0$9,642
IX-24e All other expensesPrograms $30 · Management $0 · Fundraising $0$30
IX-25 Total functional expensesPrograms $201,651 · Management $0 · Fundraising $0$201,651
Part X · Balance sheet $1,428,323 assets, 16 lines filed
X-1 Cash, non-interest-bearingStart of year $12,759−$3,021
X-2 Savings and temporary cash investmentsStart of year $0$0
X-3 Pledges and grants receivableStart of year $0$0
X-4 Accounts receivableStart of year $0$0
X-8 Inventories for sale or useStart of year $0$6,914
X-9 Prepaid expenses and deferred chargesStart of year $0$0
X-10c Land, buildings and equipment, netStart of year $1,424,430$1,424,430
X-16 Total assetsStart of year $1,444,103$1,428,323
X-17 Accounts payable and accrued expensesStart of year $0$0
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $0$0
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-26 Total liabilitiesStart of year $1,450,000$1,370,000
X-32 Total net assets or fund balancesStart of year −$5,897$58,323
X-33 Total liabilities and net assetsStart of year $1,444,103$1,428,323
Part XI · Reconciliation of net assets $58,323 net assets at year end
XI-1 Total revenue$265,871
XI-2 Total expenses$201,651
XI-3 Revenue less expenses$64,220
XI-4 Net assets at start of year−$5,897
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$58,323

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

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