Quality Products Inc
- Assets
- $987.4k
- Revenue
- $514.1k
- Investments
- $0.0
- Employees
- 33
- Location
- Nevada, MO
- Founding
- 11/1989
- Data as of
- 12/2022
- EIN
- 43-1503820
Organization Overview
Quality Products Inc is located in Nevada, MO. The organization was established in 1989. According to its NTEE Classification (J33) the organization is classified as: Sheltered Employment, under the broad grouping of Employment and related organizations. As of 12/2022, Quality Products Inc employed 33 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Quality Products 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, Quality Products Inc generated $514.1k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.6% each year. All expenses for the organization totaled $481.8k during the year ending 12/2022. While expenses have increased by 3.3% per year over the past 8 years. They've been increasing with an increasing level of total revenue. 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 ESTABLISH,OPERATE, ADMINISTER A SHELTERED WORKSHOP FOR HANDICAPPED ADULTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ESTABLISH, OPERATE & ADMINISTER A SHELTERED WORKSHOP FOR APPROXIMATELY 28 HANDICAPPED ADULTS. THESE EMPLOYEES BOX, ASSEMBLE & PACKAGE VARIOUS PRODUCTS FOR LOCAL INDUSTRIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kendall Vickers Secretary | Officer | 3 | $0 |
Katie Sanderson Treasurer | Officer | 3 | $0 |
Vic Wolf President | Officer | 3 | $0 |
Linda Moore Vice President | Officer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $139,642 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,388 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $142,030 |
| Total Program Service Revenue | $0 |
| Investment income | $139 |
| 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 | $364,465 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $514,131 |
| 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 | $314,070 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $23,973 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,650 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $4,471 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $27,162 |
| Travel | $330 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $201 |
| Interest | $21,629 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $29,026 |
| Insurance | $24,776 |
| All other expenses | $6,696 |
| Total functional expenses | $481,773 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $100 |
| Savings and temporary cash investments | $135,547 |
| Pledges and grants receivable | $7,285 |
| Accounts receivable, net | $35,207 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $36,793 |
| Prepaid expenses and deferred charges | $6,465 |
| Net Land, buildings, and equipment | $766,022 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $987,419 |
| Accounts payable and accrued expenses | $12,988 |
| 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 | $530,087 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $543,075 |
| Net assets without donor restrictions | $0 |
| 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 | $444,344 |
| Total liabilities and net assets/fund balances | $987,419 |