Adoption Option Inc
- Assets
- $1.6m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 58
- Location
- Midland, MI
- Founding
- 02/2005
- Data as of
- 12/2023
- EIN
- 43-2017657
Organization Overview
Adoption Option Inc is located in Midland, MI. The organization was established in 2005. According to its NTEE Classification (P31) the organization is classified as: Adoption, under the broad grouping of Human Services and related organizations. As of 12/2023, Adoption Option Inc employed 58 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Adoption Option 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 12/2023, Adoption Option Inc generated $3.0m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 9.2% each year. All expenses for the organization totaled $2.8m during the year ending 12/2023. While expenses have increased by 8.2% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE ADOPTION AND OTHER CHILD WELFARE SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHILD WELFARE SERVICES, INCLUDING: ADOPTION AND POST-ADOPTION SERVICES, FOSTER-TO-ADOPT, LICENSING, MENTORING, SUPERVISED VISITATION, PARENT EDUCATION AND OTHER SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Theophilus Leapheart Member | Trustee | 0.1 | $0 |
Perry Holmon Treasurer | OfficerTrustee | 0.1 | $0 |
Smallwood Holoman Member | Trustee | 0.1 | $0 |
Sharon Leenhouts Secretary | OfficerTrustee | 0.1 | $0 |
Ronnie Neumann Member | Trustee | 0.1 | $0 |
James Walker Jr Member | Trustee | 0.1 | $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 | $79,083 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $79,083 |
| Total Program Service Revenue | $2,829,263 |
| Investment income | $27,677 |
| 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 | $2,976,498 |
| 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. | $1,622,098 |
| Compensation of current officers, directors, key employees. | $229,917 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $19,993 |
| Payroll taxes | $119,531 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,749 |
| Fees for services: Accounting | $94,946 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $574,740 |
| Advertising and promotion | $7,435 |
| Office expenses | $79,185 |
| Information technology | $27,278 |
| Royalties | $0 |
| Occupancy | $33,424 |
| Travel | $117,808 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $19,467 |
| Interest | $114 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $22,392 |
| Insurance | $28,419 |
| All other expenses | $17,076 |
| Total functional expenses | $2,797,655 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $946,660 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $511,855 |
| 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 | $0 |
| Net Land, buildings, and equipment | $91,475 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $38,103 |
| Total assets | $1,588,093 |
| Accounts payable and accrued expenses | $127,596 |
| 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 | $26,960 |
| Total liabilities | $154,556 |
| Net assets without donor restrictions | $1,403,011 |
| Net assets with donor restrictions | $30,526 |
| 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 | $1,588,093 |