Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2023. IRS ruling in Aug 2023.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
27 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Something off? Claim to add context
Who runs it and what they're paid
4 people listed on the 990; $209K paid to officers and key staff.
Nicholas J Edwards’s $209K as Executive Director is at the 97th percentile of top reported officer pay among 1709 $100K–1M community development 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.
See 5 3 Fund executive salaries →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 15aYes
Programs and updates
Fund under-resourced entrepreneurs to launch and grow their startups.
Questions for 5 3 Fund
Your first name shows with your question. 5 3 Fund answers here, for everyone.
We made grants and formed a company called Loop, an in home delivery mechanism for rural and upper midwest communities connecting physical therapists to patient virtually and in home. We added jobs, company growth and fostered early stage entrepreneurs in furtherance of our mission to serve the region.
This year we mentored, placed, and internally incubated early-stage companies providing grants and coaching to our region. Founders came to us with ideas and just under a dozen companies were mentored and/or taken through our studio cohort process.
We continued forming Myo Impact Company as a holding company for medical entities striving to bring value based care to more rural centric communities or those communities without access.
By the numbers
The FY2023 990, line by line.
Download 990
| Line | Start FY23 | End FY23 |
|---|---|---|
| Cash and savingsLn 1–2 | $22K | |
| Total assetsLn 16 | $0 | $22K |
| LiabilitiesLn 26 | $0 | $35K |
| Net assetsLn 32 | $0 | −$13K |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $100K | $100K | ||
| Pay of current officers, directors and key staffLn 5 | $209K | $209K | ||
| Other salaries and wagesLn 7 | $32K | $32K | ||
| Payroll taxesLn 10 | $5K | $5K | ||
| Legal feesLn 11b | $37K | $20K | $17K | |
| Accounting feesLn 11c | $34K | $34K | ||
| Advertising and promotionLn 12 | $86K | $16K | $39K | $30K |
| Office expensesLn 13 | $5K | $5K | ||
| Information technologyLn 14 | $5K | $5K | ||
| Total functional expensesLn 25 | $513K | $136K | $346K | $30K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2023 Latest ViewingFiled with the IRS Jul 17, 2024 | $500K | $513K | −$13K | −$13K | 990 PDF |
Schedules filed Part IV
See the full FY2023 990 (6 parts)
Part I · Summary $499,889 revenue, 12 lines filed
Part VI · Governance 3 of 3 board members independent, no flags
Part VIII · Statement of revenue $499,889 across 5 lines filed
Part IX · Statement of functional expenses $513,220 across 9 lines filed
Part X · Balance sheet $22,031 assets, 9 lines filed
Part XI · Reconciliation of net assets −$13,331 net assets at year end
Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File
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