Idea Works INC FY2020 filing

Tax-deductible

Mansfield, OH501(c)(3)Community DevelopmentEIN 82-3865130Revenue $183K in FY2020

On file with the IRSideaworksohio.com144 W 3rd St, 44902-1217 · Mansfield, OHTax-exempt since Sep 2018Publicly supported charity — 170(b)(1)(A)(vi)

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To provide education, resources, mentorship, and a shared community to aspiring entrepreneurs of all ages; and to become a critical center of gravity for entrepreneurial development, and in turn, help businesses start, develop, and thrive.

501(c)(3) charity; gifts are tax-deductible.
68¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · 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 5
filings with a surplus
Average surplus $4K a year · 2% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
68%
of spending
Fine: 68% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.9 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $76K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$9K
38% of total assets
Looks good: liabilities are 38% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 5 voting members
Concern: none of 5 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$183K
Spent
$198K
To programs
68%
Net assets
$15K
By yearFY2020–FY2024
Revenue
$183K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$183K
FY2021$285K
FY2022$356K
FY2023$172K
FY2024$188K
Expenses
$198K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$198K
FY2021$257K
FY2022$271K
FY2023$244K
FY2024$194K
Net assets
$15K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$15K
FY2021$43K
FY2022$128K
FY2023$56K
FY2024$51K

From the FY2020 Form 990 · see the original

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You’re viewing the FY2020 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 Sep 2018.

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

Where the money goes

68 cents of each dollar spent went to programs.

Program services 68% · $136K Management & general 32% · $63K

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

5 people listed on the 990.

Part VII, Section A · reportable compensation
President & CEO
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
See Idea Works 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Empowers aspiring entrepreneurs with education, resources, and community to start and grow businesses.

Provided by the organization

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1 program · $136K · in their own filed words · FY2020
01

Provide education, resources, mentorship and a shared workspace community to aspiring entrepreneuers.

$136Kprogram 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 · FY2024
Total grants receivedfrom 1 funder$76K

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$183K
Ln 12
Gifts and grantsLn 1h$142K
Fees for servicesLn 2g$40K
Other incomeLn 4–11$763
Money outPt IX
$198K
Ln 25
Programscol B$136K
Managementcol C$63K
Owns and owesPt X
$15K
net assets · Ln 32
Cash and savingsLn 1–2$16K
Total assetsLn 16$23K
LiabilitiesLn 26$9K
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$142K
Fees for servicesLn 2g$40K
Investment incomeLn 3$4
Other incomeLn 4–11$763
Gains on assetsLn 7$0
Total revenueLn 12$183K
Assets in detailPt X, end of year
CashLn 1$16K
SavingsLn 2$0
Cash and savings togetherLn 1–2$16K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$3K
Other assetsLn 15$0
Total assetsLn 16$23K
LiabilitiesLn 26$9K
Net assetsLn 32$15K
OperationsPt I, VI
EmployeesI 51
VolunteersI 69
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 FY20End FY20
Cash and savingsLn 1–2$27K$16K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$5K$3K
Total assetsLn 16$37K$23K
LiabilitiesLn 26$6K$9K
Net assetsLn 32$30K$15K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$44K$39K$5K
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$4K$3K$538
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$4K$4K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$2K$2K
Advertising and promotionLn 12$705$705
Office expensesLn 13$6K$5K$903
Information technologyLn 14$695$695
RoyaltiesLn 15$0
OccupancyLn 16$125K$74K$50K
TravelLn 17$100$100
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$2K$2K
InsuranceLn 23$0
Other expenses (24a–d)Ln 24$11K$11K$50
All other expensesLn 24e$492$325$167
Total functional expensesLn 25$198K$136K$63K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $188K$194K−$5K$51K 990 PDF
FY2023 $172K$244K−$72K$56K 990 PDF
FY2022 $356K$271K$85K$128K 990 PDF
FY2021 $285K$257K$28K$43K 990 PDF
FY2020 Viewing $183K$198K−$16K$15K 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 $182,724 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $181,161$142,276
I-9 Program service revenuePrior year $59,482$39,681
I-10 Investment incomePrior year $6$4
I-11 Other revenue$763
I-12 Total revenuePrior year $240,649$182,724
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $34,163$47,933
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $178,676$150,488
I-18 Total expensesPrior year $212,839$198,421
I-19 Revenue less expensesPrior year $27,810−$15,697
Part VI · Governance 0 of 5 board members independent, 5 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members0
VI-2 Family or business relationship among officers or directorsYes
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
Part VIII · Statement of revenue $182,724 across 10 lines filed
VIII-1f All other contributions, gifts and grants$142,276
VIII-1h Total contributions, gifts and grants$142,276
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $39,681$39,681
VIII-3 Investment incomeRelated to mission $4$4
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $763$763
VIII-12 Total revenueRelated to mission $40,448$182,724
Part IX · Statement of functional expenses $198,421 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $39,122 · Management $5,280$44,402
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxesPrograms $2,993 · Management $538$3,531
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting feesManagement $4,020$4,020
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesManagement $1,500$1,500
IX-12 Advertising and promotionPrograms $705$705
IX-13 Office expensesPrograms $4,689 · Management $903$5,592
IX-14 Information technologyPrograms $695$695
IX-15 Royalties$0
IX-16 OccupancyPrograms $74,482 · Management $50,285$124,767
IX-17 TravelPrograms $100$100
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $1,899$1,899
IX-23 Insurance$0
IX-24 Other expenses (24a–d)Programs $10,668 · Management $50$10,718
IX-24e All other expensesPrograms $325 · Management $167$492
IX-25 Total functional expensesPrograms $135,678 · Management $62,743 · Fundraising $0$198,421
Part X · Balance sheet $23,455 assets, 18 lines filed
X-1 Cash, non-interest-bearingStart of year $26,758$15,701
X-2 Savings and temporary cash investments$0
X-3 Pledges and grants receivable$0
X-4 Accounts receivableStart of year $5,175$4,905
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred charges$0
X-10c Land, buildings and equipment, netStart of year $4,748$2,849
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assets$0
X-16 Total assetsStart of year $36,681$23,455
X-17 Accounts payable and accrued expensesStart of year $5,565$489
X-25 Other liabilitiesStart of year $858$8,405
X-26 Total liabilitiesStart of year $6,423$8,894
X-32 Total net assets or fund balancesStart of year $30,258$14,561
X-33 Total liabilities and net assetsStart of year $36,681$23,455
Part XI · Reconciliation of net assets $14,561 net assets at year end
XI-1 Total revenue$182,724
XI-2 Total expenses$198,421
XI-3 Revenue less expenses−$15,697
XI-4 Net assets at start of year$30,258
XI-10 Net assets at end of year$14,561

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

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