Trico Opportunities Inc
- Assets
- $3.3m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 66
- Location
- Kingsford, MI
- Founding
- 07/1969
- Data as of
- 09/2023
- EIN
- 38-1871305
Organization Overview
Trico Opportunities Inc is located in Kingsford, MI. The organization was established in 1969. According to its NTEE Classification (J33) the organization is classified as: Sheltered Employment, under the broad grouping of Employment and related organizations. As of 09/2023, Trico Opportunities Inc employed 66 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Trico Opportunities Inc 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 09/2023, Trico Opportunities Inc generated $1.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (7.7%) each year. All expenses for the organization totaled $855.6k during the year ending 09/2023. As we would expect to see with falling revenues, expenses have declined by (13.1%) per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TRICO OPPORTUNITIES, INC. IS A VOCATIONAL REHABILITATION AND SKILL-BUILDING ORGANIZATION THAT PROVIDES SERVICES TO DISABLED AND OTHER INDIVIDUALS EXPERIENCING BARRIERS TO EMPLOYMENT. TRICO PROVIDES A MULTITUDE OF PROGRAMS AND SERVICES THAT ASSIST EACH PROGRAM PARTICIPANT IN MAXIMIZING HIS/HER CAPABILITIES AND POTENTIAL TO BECOME SELF-SUFFICIENT AND SELF-SUPPORTING TO THE GREATEST EXTENT POSSIBLE. THIS MAY INCLUDE LONG OR SHORT-TERM PROGRAMMING LIKE VOCATIONAL TRAINING AND/OR SKILL-BUILDING WORK WITHIN THE FACILITY, OR IT MAY BE VOCATIONAL ASSESSMENTS, VOCATIONAL COUNSELING, SUPPORTED/COMPETITIVE EMPLOYMENT PLACEMENTS, AND/OR JOB DEVELOPMENT WITHIN THE COMMUNITY, WITH NECESSARY FOLLOW-ALONG SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE WOOD PRODUCTS MANUFACTURING FACILITY IS STRUCTURED TO PROVIDE VOCATIONAL TRAINING, SKILL-BUILDING, WORK ADJUSTMENT, CUSTOMIZED EMPLOYMENT, AND EMPLOYMENT TO DISABLED INDIVIDUALS WITH A HIGHER FUNCTIONING CAPACITY THAN THOSE IN WORK ACTIVITIES, BUT WHO ARE NOT YET READY FOR COMMUNITY PLACEMENT UNDER COMPETITIVE EMPLOYMENT CONDITIONS. THESE INDIVIDUALS, HOWEVER, WOULD QUALIFY FOR SUPPORTED AND/OR TRANSITIONAL EMPLOYMENT IN THE COMMUNITY AS OPPORTUNITIES OR OPTIONS ARISE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Hugo Latvala Member | Trustee | $0 | |
Brian Brouillette President | Officer | $0 | |
Peggy Freeman Treasurer | Officer | $0 | |
Betty Phillips Secretary | Officer | $0 | |
Dan Recla Vice Preside | Officer | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,395 |
| Noncash contributions included in lines 1a–1f | $300 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,395 |
| Total Program Service Revenue | $716,314 |
| Investment income | $356,063 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,208,120 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $521,355 |
| Pension plan accruals and contributions | $18,209 |
| Other employee benefits | $59,071 |
| Payroll taxes | $37,845 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $300 |
| Fees for services: Accounting | $6,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,915 |
| Office expenses | $4,057 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $3,209 |
| 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 | $99,783 |
| Insurance | $22,084 |
| All other expenses | $5,817 |
| Total functional expenses | $855,590 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $134,171 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $60,548 |
| 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 | $5,255 |
| Net Land, buildings, and equipment | $691,333 |
| Investments—publicly traded securities | $2,390,536 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,281,843 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| 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 | $164,660 |
| Total liabilities | $164,660 |
| Net assets without donor restrictions | $3,117,183 |
| 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 | $3,281,843 |