Functional Industries Inc
- Assets
- $12.2m
- Revenue
- $4.9m
- Investments
- $0.0
- Employees
- 306
- Location
- Buffalo, MN
- Founding
- 03/1974
- Data as of
- 06/2023
- EIN
- 41-1223547
Organization Overview
Functional Industries Inc is located in Buffalo, MN. The organization was established in 1974. According to its NTEE Classification (P80) the organization is classified as: Centers to Support the Independence of Specific Populations, under the broad grouping of Human Services and related organizations. As of 06/2023, Functional Industries Inc employed 306 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Functional Industries 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 06/2023, Functional Industries Inc generated $4.9m 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 (3.5%) each year. All expenses for the organization totaled $5.0m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (2.4%) 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
TO CREATE AND PROMOTE INNOVATIVE OPPORTUNITIES THAT REVEAL THE NATURAL POTENTIAL OF EACH PERSON WE SERVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE DREAM (DEVELOPING RELATIONSHIPS, EMPOWERMENT AND MOTIVATION) PROGRAM HAS CONTINUED ITS EFFORTS IN CREATING NEW INTEGRATED COMMUNITY OPPORTUNITIES. THERE HAVE BEEN SEVERAL NEW RELATIONSHIPS BUILT THROUGHOUT THIS PAST YEAR WHICH HAS CREATED MORE OPTIONS FOR INDIVIDUALS TO INTEGRATE IN THE COMMUNITY! IN ADDITION, THERE HAVE ALSO BEEN TWO NEW VOLUNTEER OPTIONS MADE AVAILABLE FOR INDIVIDUALS THAT WANT TO GIVE BACK TO THEIR LOCAL COMMUNITY.
UNLIMITED POTENTIALS IS FUNCTIONAL INDUSTRIES (FII)'S IN-HOME SUPPORTS PROGRAM. THIS PROGRAM PROVIDES 1:1 SERVICES TO INDIVIDUALS THAT LIVE IN A NON-RESIDENTIAL SETTING. INDIVIDUALS IN THIS PROGRAM WANT TO WORK ON BEING MORE INDEPENDENT WITH THEIR DAILY LIVING SKILLS. THIS PAST YEAR WE HAVE HIRED A NEW POSITION TO OVERSEE THIS PROGRAM AND ADDRESS THE NEED FOR SERVICES IN THE WRIGHT COUNTY AREA. WE HAVE GROWN THIS PROGRAM FROM SERVING 8 INDIVIDUALS TO 18 INDIVIDUALS. THIS PROGRAM CONTINUES TO SHOW THAT THERE IS A NEED FOR WORKING 1:1 WITH INDIVIDUALS IN OUR LOCAL COMMUNITY AND SURROUNDING AREAS.
PARTNERSHIPS WERE CREATED WITH A NEW CAREER SKILLS TRAINING AND DEVELOPMENT PROGRAM THROUGH UNIFIED WORK ACADEMY. THERE HAVE BEEN THREE COURSES OFFERED THIS PAST YEAR; TWO OF WHICH, FII COLLABORATED WITH ANOTHER EMPLOYMENT SUPPORTS PROGRAM. THIS PROGRAM PROVIDED MORE OPPORTUNITIES FOR INDIVIDUALS TO GAIN SOFT SKILLS, IDENTIFY THEIR AREAS OF INTEREST AND GAIN INDEPENDENCE WITH PUBLIC SPEAKING!
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vincent Lundeen Chair | OfficerTrustee | 1 | $0 |
Mike Foell Vice Chair | OfficerTrustee | 0.5 | $0 |
Shaun Corbin Treasurer | OfficerTrustee | 0.5 | $0 |
Cherryl Gilmer Secretary | OfficerTrustee | 0.5 | $0 |
Bruce Anderson Director | Trustee | 0.5 | $0 |
Stephanie Cappelleri Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $889,175 |
| All other contributions, gifts, grants, and similar amounts not included above | $16,567 |
| Noncash contributions included in lines 1a–1f | $1,298 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $905,742 |
| Total Program Service Revenue | $3,886,558 |
| Investment income | $38,977 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $46,384 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,877,661 |
| 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 | $369,322 |
| Other salaries and wages | $2,498,156 |
| Pension plan accruals and contributions | $22,088 |
| Other employee benefits | $252,797 |
| Payroll taxes | $279,161 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $98,124 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $114,006 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $85,923 |
| Travel | $0 |
| 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 | $181,466 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $5,004,278 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $597,243 |
| Savings and temporary cash investments | $1,391,428 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,445,139 |
| 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 | $42,883 |
| Net Land, buildings, and equipment | $2,698,096 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $6,058,712 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $12,233,501 |
| Accounts payable and accrued expenses | $300,151 |
| 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 | $0 |
| Total liabilities | $300,151 |
| Net assets without donor restrictions | $11,933,350 |
| 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 | $12,233,501 |