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Final-Five Fund INC

Chicago, ILUnknown exempt organization EIN 87-3765459Revenue $361K in FY2024

On file with the IRS303 E Wacker Dr 1100 · Chicago, IL

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To further the general welfare of the u.s. Citizens and reinvigorate democracy in america.

95¢ of each $1 spent went to programs.
Run by 4 volunteers.
Mission: Form 990 Part I, line 1 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
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
1 of 3
filings with a surplus
Average deficit $556K a year · 12% of revenue · last 3 filings
Concern: a surplus in 1 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
95%
of spending
Looks good: 95% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Named funders
1
named funder · $300K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.7M
×48 of total assets
Concern: liabilities are 4800% of assets; over 80%.
Pt X · Ln 26
Independent board members
2
of 3 voting members
Looks good: 2 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
$361K
-81% vs prior year
Spent
$1.7M
To programs
95%
Net assets
−$1.7M
By yearFY2022–FY2024
Revenue
$361K
FY2024▼ -81%
Tap a bar for its year
Revenue by fiscal year
FY2022$12.0M
FY2023$1.9M
FY2024$361K
Expenses
$1.7M
FY2024▲ +748%
Tap a bar for its year
Expenses by fiscal year
FY2022$14.0M
FY2023$206K
FY2024$1.7M
Net assets
−$1.7M
FY2024▼ -496%
Tap a bar for its year
Net assets by fiscal year
FY2022−$2.0M
FY2023−$280K
FY2024−$1.7M

From the FY2024 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024.

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

Where the money goes

95 cents of each dollar spent went to programs.

Program services 95% · $1.7M Management & general 5% · $89K

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

4 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
John Sobrato
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Final-Five Fund 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
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

Strengthens democracy and improves the well-being of American citizens.

Questions for Final-Five Fund INC

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Provided by the organization

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1 program · $1.7M · in their own filed words · FY2024
01

To further the common good and general welfare of the citizens of the united states by engaging in activities that advance and strengthen our democracy, including supporting campaigns to build awareness for and implement final five voting in nevada, wisconsin, massachusetts, and new york.

$1.7Mprogram expense

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 · FY2024
Ipi Action Fund INCFY2024$300K
Total grants receivedfrom 1 funder$300K
Grants paid · 13 grants · $15.1M · 2022–2024
Montanans for Election ReformMT · FY2024$500,000
Vote Yes on 3NV · FY2024$500,000
Colorado Voters FirstFY2024$250,000
No on 2AK · FY2024$250,000
Make All Votes Count DCFY2024$25,000
Make Elections Fair PacFY2024$25,000
New Yorkers for Competitive ElectionsFY2023$20,000
Partners in Democracy INCMA · FY2023$10,000
Nevada Voters FirstNV · FY2022$13,089,000
Ipi Action Fund INCIL · FY2022$350,000
Fix the System - Wisconsin Action INCWI · FY2022$75,000
New Yorkers for Competitive ElectionsFY2022$42,500
Partners in Democracy INCMA · FY2022$10,000

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$361K
Ln 12
Gifts and grantsLn 1h$304K
Investment incomeLn 3$57K
Money outPt IX
$1.7M
Ln 25
Programscol B$1.7M
Managementcol C$89K
Owns and owesPt X
−$1.7M
net assets · Ln 32
Total assetsLn 16$36K
LiabilitiesLn 26$1.7M
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$304K
Investment incomeLn 3$57K
Total revenueLn 12$361K
Assets in detailPt X, end of year
InvestmentsLn 11–13$36K
Total assetsLn 16$36K
LiabilitiesLn 26$1.7M
Net assetsLn 32−$1.7M
OperationsPt I, VI
EmployeesI 50
VolunteersI 64
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
InvestmentsLn 11–13$1.5M$36K
Total assetsLn 16$1.5M$36K
LiabilitiesLn 26$1.8M$1.7M
Net assetsLn 32−$280K−$1.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$1.6M$1.6M
Other salaries and wagesLn 7$42K$37K$5K
Pension plan contributionsLn 8$1K$1K$141
Other employee benefitsLn 9$2K$2K$232
Payroll taxesLn 10$4K$3K$401
Legal feesLn 11b$29K$29K
Accounting feesLn 11c$19K$19K
Other fees for servicesLn 11g$56K$56K
Advertising and promotionLn 12$6K$6K
Office expensesLn 13$245$245
Information technologyLn 14$4K$4K
OccupancyLn 16$17K$17K
Conferences, conventions and meetingsLn 19$5K$5K
InsuranceLn 23$2K$2K
Other expenses (24a–d)Ln 24$14K$14K
Total functional expensesLn 25$1.7M$1.7M$89K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $361K$1.7M−$1.4M−$1.7M 990 PDF
FY2023 $1.9M$206K$1.7M−$280K 990 PDF
FY2022 $12.0M$14.0M−$2.0M−$2.0M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $360,717 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,828,070$303,838
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $72,865$56,879
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $1,900,935$360,717
I-13 Grants and similar amounts paidPrior year $30,000$1,550,000
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $70,830$48,808
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $105,304$149,456
I-18 Total expensesPrior year $206,134$1,748,264
I-19 Revenue less expensesPrior year $1,694,801−$1,387,547
Part VI · Governance 2 of 3 board members independent, 1 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members2
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $360,717 across 5 lines filed
VIII-1d Related organizations$300,000
VIII-1f All other contributions, gifts and grants$3,838
VIII-1h Total contributions, gifts and grants$303,838
VIII-3 Investment incomeExcluded from tax $56,879$56,879
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $56,879$360,717
Part IX · Statement of functional expenses $1,748,264 across 15 lines filed
IX-1 Grants to domestic organizationsPrograms $1,550,000$1,550,000
IX-7 Other salaries and wagesPrograms $37,202 · Management $4,704$41,906
IX-8 Pension plan contributionsPrograms $1,116 · Management $141$1,257
IX-9 Other employee benefitsPrograms $1,838 · Management $232$2,070
IX-10 Payroll taxesPrograms $3,174 · Management $401$3,575
IX-11b Legal feesManagement $28,562$28,562
IX-11c Accounting feesManagement $18,606$18,606
IX-11g Other fees for servicesPrograms $55,832$55,832
IX-12 Advertising and promotionPrograms $5,765$5,765
IX-13 Office expensesManagement $245$245
IX-14 Information technologyManagement $3,664$3,664
IX-16 OccupancyManagement $16,758$16,758
IX-19 Conferences, conventions and meetingsPrograms $4,695$4,695
IX-23 InsuranceManagement $1,516$1,516
IX-24 Other expenses (24a–d)Management $13,813$13,813
IX-25 Total functional expensesPrograms $1,659,622 · Management $88,642 · Fundraising $0$1,748,264
Part X · Balance sheet $36,347 assets, 8 lines filed
X-11 Publicly traded securitiesStart of year $1,469,128$36,347
X-16 Total assetsStart of year $1,516,530$36,347
X-17 Accounts payable and accrued expensesStart of year $93,790$3,915
X-25 Other liabilitiesStart of year $2,761$0
X-26 Total liabilitiesStart of year $1,796,551$1,703,915
X-27 Net assets without donor restrictionsStart of year −$280,021−$1,667,568
X-32 Total net assets or fund balancesStart of year −$280,021−$1,667,568
X-33 Total liabilities and net assetsStart of year $1,516,530$36,347
Part XI · Reconciliation of net assets −$1,667,568 net assets at year end
XI-1 Total revenue$360,717
XI-2 Total expenses$1,748,264
XI-3 Revenue less expenses−$1,387,547
XI-4 Net assets at start of year−$280,021
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$1,667,568

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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