Real Resources Inc
- Assets
- $4.1m
- Revenue
- $6.2m
- Investments
- $250.0k
- Employees
- 119
- Location
- Golden Valley, MN
- Founding
- 08/1994
- Data as of
- 12/2022
- EIN
- 41-1772958
Organization Overview
Real Resources Inc, operating under the name Youthworks, is located in Golden Valley, MN. The organization was established in 1994. According to its NTEE Classification (X99) the organization is classified as: Religion-Related N.E.C., under the broad grouping of Religion-Related and related organizations. As of 12/2022, Youthworks employed 119 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Youthworks 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, Youthworks generated $6.2m 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 (10.6%) each year. All expenses for the organization totaled $4.9m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (14.1%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
YOUTH FAITH FORMATION & GROWTH/ TRAINING AND DEVELOPMENT FOR YOUTH PASTORS AND YOUTH LEADERSHIP.
Describe the Organization's Program Activity:
YOUTHWORKS PROVIDED SHORT-TERM MISSION EXPERIENCES TO YOUTH GROUPS AT SITES IN THE USA. E625 HAS A PRESENCE IN ALL THE SPANISH-SPEAKING COUNTRIES OF THE WORLD, SERVING THOUSANDS THROUGH THEIR PREMIUM DIGITAL CONTENT ACCESSED THROUGH THEIR WEBSITE, E625 AUTHORED BOOKS, THE ONLINE E625 INSTITUTE AND SEMINARS. BORDER PERSPECTIVE CREATES THE OPPORTUNITIES FOR INDIVIDUALS TO SERVE AND LEARN ABOUT IMMIGRATION AT THE U.S. AND MEXICO BORDER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jim Olson Chair/treasurer | OfficerTrustee | 3 | $0 |
William Cumby Director | Trustee | 1 | $0 |
Daniel Reeve Director | Trustee | 1 | $0 |
Philip Wolf CFO | Officer | 20 | $62,500 |
Lucas Leys President, E625 | 40 | $118,280 | |
Erica Schimelpfenig President, Youthworks | 40 | $112,041 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kregel Publishing Book Printing, Storage, And Distribution | 12/30/22 | $169,997 |
Cliftonlarsonallen Llp Accounting | 12/30/22 | $143,653 |
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 | $1,155,442 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,155,442 |
| Total Program Service Revenue | $4,306,480 |
| Investment income | $74,755 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $13,696 |
| 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 | $140,859 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,221,569 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $120,921 |
| 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. | $67,539 |
| Compensation of current officers, directors, key employees. | $67,539 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,843,162 |
| Pension plan accruals and contributions | $55,325 |
| Other employee benefits | $141,528 |
| Payroll taxes | $138,379 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $16,811 |
| Fees for services: Accounting | $148,767 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $501,751 |
| Advertising and promotion | $189,925 |
| Office expenses | $214,843 |
| Information technology | $122,489 |
| Royalties | $8,907 |
| Occupancy | $143,785 |
| Travel | $808,011 |
| 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 | $5,410 |
| Insurance | $398,430 |
| All other expenses | $22,236 |
| Total functional expenses | $4,948,219 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $842,640 |
| Savings and temporary cash investments | $1,397,349 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $813,392 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $22,391 |
| Inventories for sale or use | $452,342 |
| Prepaid expenses and deferred charges | $259,712 |
| Net Land, buildings, and equipment | $3,223 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $250,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $19,337 |
| Total assets | $4,060,386 |
| Accounts payable and accrued expenses | $267,350 |
| Grants payable | $0 |
| Deferred revenue | $1,249,119 |
| 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 | $30,052 |
| Total liabilities | $1,546,521 |
| Net assets without donor restrictions | $1,506,820 |
| Net assets with donor restrictions | $1,007,045 |
| 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 | $4,060,386 |
Grants Awarded
Over the last fiscal year, Real Resources Inc has awarded $38,458 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
INTERNATIONAL FAMILY MISSIONS PURPOSE: MISSIONARY SUPPORT | $6,000 |
TREEHOUSE PURPOSE: AT RISK YOUTH PROGRAM DEVELOPMENT SUPPORT | $25,000 |
MARVELL CIVIC CLUB PURPOSE: AFTER SCHOOL PROGRAM SUPPORT | $7,458 |