Societys Assets Incorporated
- Assets
- $8.8m
- Revenue
- $5.8m
- Investments
- $0.0
- Employees
- 434
- Location
- Racine, WI
- Founding
- 11/2000
- Data as of
- 06/2022
- EIN
- 23-7417643
Organization Overview
Societys Assets Incorporated is located in Racine, WI. The organization was established in 2000. According to its NTEE Classification (J30) the organization is classified as: Vocational Rehabilitation, under the broad grouping of Employment and related organizations. As of 06/2022, Societys Assets Incorporated employed 434 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Societys Assets Incorporated is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Societys Assets Incorporated generated $5.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (9.9%) each year. All expenses for the organization totaled $5.5m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (12.3%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
HELP DISABLED PERSONS LIVE INDEPENDENTLY. TO ENSURE THE RIGHTS OF ALL PERSONS WITH DISABILITIES TO LIVE AND FUNCTION AS INDEPENDENTLY AS POSSIBLE IN THE COMMUNITY OF THEIR CHOICE THROUGH SUPPORTING INDIVIDUALS' EFFORT TO ACHIEVE CONTROL OVER THEIR LIVES AND BECOME INTEGRATED INTO COMMUNITY LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INDEPENDENT LIVING PROGRAM: INFORMATION & REFERRAL, CASE MANAGEMENT COUNSELING, INDEPENDENT LIVING SKILLS TRAINING, TECHNICAL ASSISTANCE & CONSULTATION SERVICES DIRECTED AT ENABLING PHYSICALLY DISABLED PERSONS TO BECOME MORE INDEPENDENT
HOME/PERSONAL MAINTENANCE PROGRAM: SUPPORTIVE HOME CARE SERVICES FOR PERSONS WITH SEVERE PHYSICAL DISABILITIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karl Kopp Executive Director | Officer | 40 | $106,025 |
Adrienne Stiger Board Member | Trustee | 1 | $0 |
Henry Denton Board Member | Trustee | 1 | $0 |
Carol Schaufel Vice-Chairperson | OfficerTrustee | 2 | $0 |
Marty Hutchings Board Member | Trustee | 1 | $0 |
Frank Germinaro Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $18,020 |
| Related organizations | $0 |
| Government grants | $414,103 |
| All other contributions, gifts, grants, and similar amounts not included above | $33,192 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $465,315 |
| Total Program Service Revenue | $5,099,951 |
| Investment income | $246,634 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $144 |
| Net Income from Fundraising Events | -$9,846 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,804,007 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $98,451 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,823,360 |
| Pension plan accruals and contributions | $4,930 |
| Other employee benefits | $219,609 |
| Payroll taxes | $301,416 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $39,769 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $171,689 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $226,602 |
| Travel | $18,469 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $83,551 |
| All other expenses | $453,543 |
| Total functional expenses | $5,461,773 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,757,736 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $303,059 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $39,109 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $4,741,240 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,841,144 |
| Accounts payable and accrued expenses | $11,097 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $2,483,569 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $342,782 |
| Total liabilities | $2,837,448 |
| Net assets without donor restrictions | $6,003,696 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $8,841,144 |