Form5 Prosthetics INC

New Albany, OH · Public charity (501(c)(3)) · Health Care

✓ Tax-deductible Latest data FY2024
Revenue
$314K
▲ +4% vs prior year
Spent
$367K
To programs
80%
Net assets
$289K

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

Status and standing

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Foundation funders?
1 funder — Ingram-White Castle Foundation
$20K in the latest grant year.
Spent on programs?
80% to programs
Form 990 Part IX, latest filing.
Size and trend
$100K–1M
↑ +4% vs prior year
Legal name (IRS)Hdr · item CForm5 Prosthetics INC
EINHdr · item D82-3555210
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFFeb 2018
Latest filingForm 990FY2024 · Form 990
Principal addressHdr · item CNew Albany, OH
NTEE classificationIRS BMFHealth Care (E50)
WebsiteHdr · item Jwww.form5prostheticsinc.org

Where the money goes

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.80 Management & general $0.14 Fundraising $0.06
Program services80%$293K
Management & general14%$51K
Fundraising6%$23K
Total functional expensesLn 25$367K

Financial health

Revenue & expenses by yearFY2020–FY2024
Revenue
$314K
FY2024▲ +4%
Expenses
$367K
FY2024▲ +77%
Program efficiency
80%
of spending reaches programs▲ +10% vs prior filing year
Operating runway
7.2mo
months of highly liquid reserves at operating expense rate▼ -51% vs prior filing year
Surplus margin
-17%
revenue over expenses, this year▼ -153% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Total assets
$289K
FY2024▼ -15%
Total liabilities
$0
FY2024
Revenue less expensesPt I · Ln 19−$53K
Total assetsPt X · Ln 16$289K
Program-expense ratioPt IX · col B80%
Voting members of governing bodyPt I · Ln 313
Independent voting membersPt I · Ln 413

Balance Sheet

Part X · end of year
CashLn 1$220K
Total assetsLn 16$289K
Total liabilitiesLn 26$0
Total net assetsLn 32$289K
Months of cash on handcomputed7.2

Statement of Revenue

Part VIII
Contributions & grants$242K · 77%
Program service revenue$73K · 23%
Investment income$2K · 1%
Contributions & grants77%$242K
Program service revenue23%$73K
Investment income1%$2K
Total revenueLn 12$314K

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $220K · Operating expenses/yr $367K
7.2 months
Where the money goes
Program services
Program services $293K · Total expenses $367K
80%
Management & General
Management & general $51K · Total expenses $367K
14%
Fundraising
Fundraising $23K · Total expenses $367K
6%
Cost to raise $1
Fundraising expense (3-yr avg) $15K · Solicited contributions (3-yr avg) $269K
$0.06 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $242K · Total revenue $314K
77%
Government reliance
Government grants — · Total revenue $314K
—
Earned-income share
Program service revenue $73K · Total revenue $314K
23%
Investment reliance
Investment income $2K · Total revenue $314K
+0.8%
Program self-sufficiency
Program service revenue $73K · Total expenses $367K
20%
Growth & trend
Revenue growth (YoY)
This year $314K · Prior year $301K
+4%
Revenue CAGR
FY2020 $84K · FY2024 $314K
+39%
Net-asset trend (YoY)
End of year $289K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $314K · Expenses $367K
-17%
Liabilities-to-Assets
Total liabilities — · Total assets $289K
—
Net-asset ratio
Net assets $289K · Total assets $289K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $289K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Aaron Westbrook · Reported title FOUNDER/ CEO · Highest reported compensation $55K · Total expenses $367K
15%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $182K · Total expenses $367K
49%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 80%——
Overhead ratio 14%——
Fundraising cost ratio 10%——
Revenue growth 4%——
Legal fee ratio 2%——
Accounting fee ratio 0.6%——

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.

Leadership and pay

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Founder/ CEO
$55,000Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Chair
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A

Aaron Westbrook’s $55K as Founder/ CEO is at the 39th percentile of top reported officer pay among 1980 $100K–1M health care 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

NameFY2024FY2023FY2022
Aaron Westbrook$55,000$49,577$36,285

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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Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a13
Independent voting membersPt VI · Ln 1b13
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Mission and programs

Helps people connect with their world and build a better future.

Provided by the organization

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Mission & Programs · Part III

Where the work happens

3 program services account for $293K of program spending, described in the organization's own filed words · FY2024.
01

Research and development. FORM5 builds interdisciplinary teams of specialists that research & develop medical and recreational adaptive products. FORM5 has multiple patents pending for its adaptive products as of 12/31/2025.

$152Kprogram expense
02

Education programs. Events that pairs recipients to engineers, students, and other volunteers to co-create custom adaptive products.

$75Kprogram expense
03

Contract Manufacturing

Utilizing a percentage of FORM5'S design and manufacturing capacity to take on contracts that generate revenue to support charitable activities

$66Kprogram expense

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Funders

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

Grants

Schedule I · funders on record
Grants received · FY2025
Total grants receivedfrom 1 funder$20K

Filing history

YearRevenueExpensesChangeFiling
FY2024 Latest Viewing $314K$367K+4% 990 PDF
FY2023 $301K$207K+10% 990 PDF
FY2022 $274K$133K+226% 990 PDF
FY2021 Not on file
FY2020 $84K— 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

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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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
Names, privacy, and removal requests More

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