Udac Inc
- Assets
- $5.1m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 28
- Location
- Duluth, MN
- Founding
- 03/1967
- Data as of
- 12/2022
- EIN
- 41-0856115
Organization Overview
Udac Inc is located in Duluth, MN. The organization was established in 1967. According to its NTEE Classification (P82) the organization is classified as: Developmentally Disabled Centers, under the broad grouping of Human Services and related organizations. As of 12/2022, Udac Inc employed 28 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Udac 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 12/2022, Udac 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 (11.6%) each year. All expenses for the organization totaled $1.4m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (9.2%) 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE CUSTOMIZED SERVICES TO PEOPLE WITH DISABILITIES AND OTHER CHALLENGES BASED ON THEIR CHOICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
A VARIETY OF SERVICES ARE PROVIDED TO PEOPLE WITH DISABILITIES AND OTHER CHALLENGES TO ENHANCE THEIR DAILY LIVES. THESE SERVICES INCLUDE A VARIETY OF JOBS WITHIN THE COMMUNITY OF DULUTH, AND THE LEARNING AND ENHANCEMENT OF OTHER SKILLS THAT BUILD CONFIDENCE AND COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jacob Stonesifer Chair | Trustee | 1 | $0 |
Joel Kolquist Past Chair | OfficerTrustee | 1 | $0 |
Chris Tracey Treasurer | OfficerTrustee | 1 | $0 |
Julie Visger Director | Trustee | 1 | $0 |
William Watson Director | Trustee | 1 | $0 |
Deb Good Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Voyageur Bus Company Transportation | 12/30/16 | $372,900 |
Four Star Construction Construction | 12/30/16 | $150,517 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $253,789 |
| All other contributions, gifts, grants, and similar amounts not included above | $81,395 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $335,184 |
| Total Program Service Revenue | $653,146 |
| Investment income | $34,787 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $13,000 |
| Net Gain/Loss on Asset Sales | $146,830 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,183,542 |
| 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. | $93,456 |
| Compensation of current officers, directors, key employees. | $65,641 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $676,739 |
| Pension plan accruals and contributions | $16,076 |
| Other employee benefits | $4,153 |
| Payroll taxes | $57,275 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,414 |
| Fees for services: Accounting | $52,130 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $7,921 |
| Fees for services: Other | $175 |
| Advertising and promotion | $10,601 |
| Office expenses | $28,781 |
| Information technology | $33,552 |
| Royalties | $0 |
| Occupancy | $36,834 |
| Travel | $22,066 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $5,445 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $180,181 |
| Insurance | $42,621 |
| All other expenses | $0 |
| Total functional expenses | $1,351,994 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $68,058 |
| Savings and temporary cash investments | $78,284 |
| Pledges and grants receivable | $183,213 |
| Accounts receivable, net | $46,887 |
| 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 | $31,668 |
| Net Land, buildings, and equipment | $2,634,872 |
| Investments—publicly traded securities | $2,085,245 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,416 |
| Total assets | $5,134,643 |
| Accounts payable and accrued expenses | $59,171 |
| Grants payable | $0 |
| Deferred revenue | $54,107 |
| 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 | $150,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,416 |
| Total liabilities | $269,694 |
| Net assets without donor restrictions | $4,864,949 |
| 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 | $5,134,643 |