Passel Provides Foundation FY2021 filing

Emmetsburg, IA · Public charity (501(c)(3)) · Since 2018 · Food & Agriculture

✓ Tax-deductible
Revenue
$687K
+253% vs prior year
Spent
$336K
To programs
84%
Net assets
$645K
By yearFY2020–FY2025
Revenue
$687K
FY2021▲ +253%
Revenue by fiscal year
FY2020$195K
FY2021$687K
FY2022$288K
FY2023$703K
FY2024$102K
FY2025$100K
Expenses
$336K
FY2021▼ -31%
Expenses by fiscal year
FY2020$487K
FY2021$336K
FY2022$439K
FY2023$562K
FY2024$491K
FY2025$139K
Net assets
$645K
FY2021▲ +101%
Net assets by fiscal year
FY2020$320K
FY2021$645K
FY2022$493K
FY2023$634K
FY2024$245K
FY2025$206K

From the FY2021 Form 990 · see the original

You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Status and standing

Is it real, and can you give to it?

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?
Yes — filed FY2025
Legal name (IRS)Hdr · item CPassel Provides Foundation
EINHdr · item D83-1808792
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFJun 2019
Year of formationHdr · item L2018
Latest filingForm 990FY2025 · Form 990
Principal addressHdr · item CEmmetsburg, IA
NTEE classificationIRS BMFFood & Agriculture (K11)
WebsiteHdr · item Jpasselfarms.com/passelprovides

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.84 Management & general $0.13 Fundraising $0.02
Program services84%$283K
Management & general13%$45K
Fundraising2%$7K
Total functional expensesLn 25$336K

Financial health

Is it on solid ground?

Program efficiency
84%
of spending reaches programs
Operating runway
26.2mo
months of highly liquid reserves at operating expense rate
Surplus margin
+51%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2021 · Form 990
Total assets
$677K
FY2021▲ +111%
Total assets by fiscal year
FY2020$321K
FY2021$677K
FY2022$493K
FY2023$634K
FY2024$247K
FY2025$206K
Total liabilities
$32K
FY2021▲ ×54
Total liabilities by fiscal year
FY2020$600
FY2021$32K
FY2022$0
FY2023$0
FY2024$2K
FY2025$0
Revenue less expensesPt I · Ln 19$351K
Total assetsPt X · Ln 16$677K
Program-expense ratioPt IX · col B84%
Voting members of governing bodyPt I · Ln 33
Independent voting membersPt I · Ln 43

Balance Sheet

Part X · end of year
CashLn 1$677K
Total assetsLn 16$677K
Total liabilitiesLn 26$32K
Total net assetsLn 32$645K
Months of cash on handcomputed24.2

Statement of Revenue

Part VIII
Contributions & grants$679K · 99%
Investment income$8K · 1%
Contributions & grants99%$679K
Investment income1%$8K
Total revenueLn 12$687K

Financial Metrics

Form 990 · FY2021 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $677K · Operating expenses (Pt IX) $336K · Less non-cash grants $26K · Cash operating expenses/yr $310K
26.2 months
Where the money goes
Program services
Program services $283K · Total expenses $336K
84%
Management & General
Management & general $45K · Total expenses $336K
13%
Fundraising
Fundraising $7K · Total expenses $336K
2%
Cost to raise $1
Fundraising expense (2-yr avg) $4K · Solicited contributions (2-yr avg) $433K
$0.01 to raise $1 (2-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $679K · Total revenue $687K
99%
Government reliance
Government grants — · Total revenue $687K
—
Earned-income share
Program service revenue $0 · Total revenue $687K
0%
Investment reliance
Investment income $8K · Total revenue $687K
+1%
Program self-sufficiency
Program service revenue $0 · Total expenses $336K
0%
Growth & trend
Revenue growth (YoY)
This year $687K · Prior year $195K
+253%
Net-asset trend (YoY)
End of year $645K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $687K · Expenses $336K
+51%
Liabilities-to-Assets
Total liabilities — · Total assets $677K
—
Net-asset ratio
Net assets $645K · Total assets $677K
95%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $677K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Wayne Craig · Reported title PRESIDENT · Highest reported compensation $0 · Total expenses $336K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $336K
—
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 84%——
Overhead ratio 13%——
Fundraising cost ratio 1%——
Revenue growth 253%——
Legal fee ratio 0.8%——
Accounting fee ratio 3%——

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

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
President
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
See Passel Provides Foundation executive salaries →

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Governance & Policies

Part VI
  • 3Voting board membersPt VI · Ln 1a
  • 3Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aYes
  • Whistleblower policyPt VI · Ln 13Yes
  • Document retention policyPt VI · Ln 14Yes
  • Top official’s pay independently reviewedPt VI · Ln 15aNo
  • Family or business ties among leadersPt VI · Ln 2Yes

Mission and programs

What it does.

Provides sustainable programs to make food accessible to all.

Provided by the organization

This section is blank until Passel Provides Foundation claims this page.

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Mission & Programs · Part III

Where the work happens

3 program services account for $283K of program spending, described in the organization's own filed words · FY2021.
01

Scholarship and educational assistance provided based on donor restricted gift policy.

$121Kprogram expense
02

Weekend food bag programs that provide nonperishable food for food insecure elementary school age children. Power program and other public outreach as well.

$109Kprogram expense
03

Provide leadership & renewal support to organizations focused on supporting programs that improve the well-being of their communities primarily focusing on the food insecure and in support of agricultural programs.

$53Kprogram expense

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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 2 funders$16K
Grants paid · 13 grants · $373K · 2020–2025
Unitemized GrantFY2025$20,500
Unitemized GrantFY2023$60,000
Snack Pak 4 KidsTX · FY2023$10,525
Unitemized GrantFY2022$54,875
Snack Pak 4 KidsTX · FY2022$7,500
Unitemized GrantFY2021$58,750
Amarillo Area Foundation INCTX · FY2021$10,000
Unitemized GrantFY2020$55,125
Snack Pak 4 KidsTX · FY2020$18,000

Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2025 Latest $100K$139K-2% 990 PDF
FY2024 $102K$491K-85% 990 PDF
FY2023 $703K$562K+144% 990 PDF
FY2022 $288K$439K-58% 990 PDF
FY2021 Viewing $687K$336K+253% 990 PDF
FY2020 $195K$487K 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) · FY2021IRS
Classification, formation year, addressIRS Business Master File
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