Form5 Prosthetics INC FY2023 filing

Tax-deductible

New Albany, OH501(c)(3)Health CareEIN 82-3555210Revenue $301K in FY2023

On file with the IRSform5prostheticsinc.org6560 New Albany Condit Rd, 43054-9734 · New Albany, OHTax-exempt since Feb 2018Publicly supported charity — 170(b)(1)(A)(vi)

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Empowering people to successfully interact with their world and their future.

501(c)(3) charity; gifts are tax-deductible.
73¢ of each $1 spent went to programs.
$50K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 3
filings with a surplus
Average surplus $61K a year · 21% of revenue · last 3 filings
Fine: a surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
73%
of spending
Fine: 73% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$50K
to officers and key staff · 24% of spending
Worth a look: pay to officers and key staff is 24% of spending; over 20%.
Pt VII · Sec A
Cash reserves
15 mo
of spending, in cash
Looks good: 14.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $20K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
12
of 12 voting members
Looks good: 12 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$301K
+10% vs prior year
Spent
$207K
To programs
73%
Net assets
$342K
By yearFY2020–FY2024
Revenue
$301K
FY2023▲ +10%
Tap a bar for its year
Revenue by fiscal year
FY2020$84K
FY2022$274K
FY2023$301K
FY2024$314K
Expenses
$207K
FY2023▲ +56%
Tap a bar for its year
Expenses by fiscal year
FY2020Not on file
FY2022$133K
FY2023$207K
FY2024$367K
Net assets
$342K
FY2023▲ +38%
Tap a bar for its year
Net assets by fiscal year
FY2020$49K
FY2022$248K
FY2023$342K
FY2024$289K

From the FY2023 Form 990 · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 2018.

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

Where the money goes

73 cents of each dollar spent went to programs.

Program services 73% · $151K Management & general 21% · $44K Fundraising 6% · $12K

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

12 people listed on the 990; $50K paid to officers and key staff.

Part VII, Section A · reportable compensation
Founder/ CEO
$49,577Pt 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 Member
$0Pt VII · Sec A
Board Chair
$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.

See Form5 Prosthetics INC 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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

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

Questions for Form5 Prosthetics INC

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Provided by the organization

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3 programs · $151K · in their own filed words · FY2023
01

Research and development. FORM5 builds interdisciplinary teams of specialists that research & develop medical and recreational devices. FORM5 has a patent pending for its bike arm adapter as of 12/31/2023.

$63Kprogram expense
02

Contract Manufacturing

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

$53Kprogram expense
03

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

$36Kprogram expense

Funders

Who pays for it.

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

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$301K
Ln 12
Gifts and grantsLn 1h$294K
Fees for servicesLn 2g$4K
Investment incomeLn 3$3K
Money outPt IX
$207K
Ln 25
Programscol B$151K
Managementcol C$44K
Fundraisingcol D$12K
Owns and owesPt X
$342K
net assets · Ln 32
Cash and savingsLn 1–2$252K
Total assetsLn 16$342K
LiabilitiesLn 26$0
PeoplePt VI, VII
12
listed · VII A
PaidVII A1
Voting boardVI 1a12
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$294K
Fees for servicesLn 2g$4K
Investment incomeLn 3$3K
Total revenueLn 12$301K
Assets in detailPt X, end of year
CashLn 1$252K
Cash and savings togetherLn 1–2$252K
Land, buildings, equipmentLn 10c$88K
Other assetsLn 15$1K
Total assetsLn 16$342K
LiabilitiesLn 26$0
Net assetsLn 32$342K
OperationsPt I, VI
EmployeesI 54
VolunteersI 675
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$149K$252K
Land, buildings, equipmentLn 10c$99K$88K
Total assetsLn 16$248K$342K
LiabilitiesLn 26$0$0
Net assetsLn 32$248K$342K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$50K$22K$18K$9K
Other salaries and wagesLn 7$16K$16K
Payroll taxesLn 10$5K$3K$1K$758
Legal feesLn 11b$14K$14K
Other fees for servicesLn 11g$4K$4K
Office expensesLn 13$20K$9K$11K
OccupancyLn 16$32K$31K$2K
TravelLn 17$224$224
Depreciation, depletion and amortizationLn 22$25K$25K
InsuranceLn 23$4K$4K
Other expenses (24a–d)Ln 24$35K$29K$5K$750
All other expensesLn 24e$2K$2K$234
Total functional expensesLn 25$207K$151K$44K$12K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $314K$367K−$53K$289K 990 PDF
FY2023 Viewing $301K$207K$94K$342K 990 PDF
FY2022 $274K$133K$141K$248K 990 PDF
FY2021 Not on file
FY2020 $84K$49K 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 FY2023 990 (6 parts)
Part I · Summary $301,155 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $272,751$294,081
I-9 Program service revenuePrior year $0$4,386
I-10 Investment incomePrior year $1,183$2,688
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $273,934$301,155
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 $53,982$70,217
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $78,792$136,775
I-18 Total expensesPrior year $132,774$206,992
I-19 Revenue less expensesPrior year $141,160$94,163
Part VI · Governance 12 of 12 board members independent, 4 to look at
VI-1a Voting members of the governing body12
VI-1b Independent voting members12
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $301,155 across 5 lines filed
VIII-1f All other contributions, gifts and grants$294,081
VIII-1h Total contributions, gifts and grants$294,081
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $4,386$4,386
VIII-3 Investment incomeExcluded from tax $2,688$2,688
VIII-12 Total revenueRelated to mission $4,386 · Unrelated business $0 · Excluded from tax $2,688$301,155
Part IX · Statement of functional expenses $206,992 across 12 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $22,188 · Management $18,232 · Fundraising $9,157$49,577
IX-7 Other salaries and wagesPrograms $16,056$16,056
IX-10 Payroll taxesPrograms $2,680 · Management $1,146 · Fundraising $758$4,584
IX-11b Legal feesPrograms $13,677$13,677
IX-11g Other fees for servicesManagement $4,498$4,498
IX-13 Office expensesPrograms $8,832 · Management $11,234$20,066
IX-16 OccupancyPrograms $30,799 · Fundraising $1,621$32,420
IX-17 TravelManagement $224$224
IX-22 Depreciation, depletion and amortizationPrograms $24,889$24,889
IX-23 InsuranceManagement $3,647$3,647
IX-24 Other expenses (24a–d)Programs $29,458 · Management $4,658 · Fundraising $750$34,866
IX-24e All other expensesPrograms $2,254 · Management $234$2,488
IX-25 Total functional expensesPrograms $150,833 · Management $43,873 · Fundraising $12,286$206,992
Part X · Balance sheet $341,954 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $149,149$252,467
X-10c Land, buildings and equipment, netStart of year $98,642$88,487
X-15 Other assetsStart of year $0$1,000
X-16 Total assetsStart of year $247,791$341,954
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $247,791$341,954
X-32 Total net assets or fund balancesStart of year $247,791$341,954
X-33 Total liabilities and net assetsStart of year $247,791$341,954
Part XI · Reconciliation of net assets $341,954 net assets at year end
XI-1 Total revenue$301,155
XI-2 Total expenses$206,992
XI-3 Revenue less expenses$94,163
XI-4 Net assets at start of year$247,791
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$341,954

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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