Civic Intelligence

The 1040 Initiative Inc

EIN 27-0659329 • 501(c)3 • Norman, OK

Profile

The vision of 1040i is to transform the lives of people in need by fighting pain and suffering in the most isolated on our globe. The primary focus is centered on health and education needs between 10 degrees and 40 degrees north of the equator spanning across north africa

PO Box 721765Norman, OK 73070

www.1040i.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

72nd percentile

0.27x

Higher debt load relative to assets than 72% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

81st percentile

0.53x

Higher debt load relative to revenue than 81% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

4th percentile

-92%

Higher net margin than 4% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

61st percentile

8.2%

Faster asset growth than 61% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2024

Revenue Growth

73rd percentile

25%

Faster revenue growth than 73% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2024

Balance Sheet
Liabilities / Assets72nd percentile

Assets

Up

$1,377,846

Up $593,820 (+76%) from 2023

Liabilities

Up

$377,655

Up $114,653 (+44%) from 2023

Net Assets

Up

$1,000,191

Up $479,167 (+92%) from 2023

Operations
Liabilities / Revenue81st percentileNet Margin4th percentile

Revenue

Up

$712,546

Up $593,643 (+499%) from 2023

Expenses

Up

$1,368,113

Up $788,522 (+136%) from 2023

Net Income

Down

-$655,567

Down $194,879 (-42%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth61st percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$1.5M$1.0M$500K$0Assets 2020: $1,052,382Liabilities 2020: $7,761Net Assets 2020: $1,044,6212020Assets 2021: $1,097,742Liabilities 2021: $11,117Net Assets 2021: $1,086,6252021Assets 2022: $1,177,443Liabilities 2022: $195,731Net Assets 2022: $981,7122022Assets 2023: $784,026Liabilities 2023: $263,002Net Assets 2023: $521,0242023Assets 2024: $1,377,846Liabilities 2024: $377,655Net Assets 2024: $1,000,1912024

Highlighted filing

2024

Assets$1,377,846
Liabilities$377,655
Net Assets$1,000,191
Open 2024 Filing

Operations Trend

Revenue Growth73rd percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$2.0M$1.0M$0-$1.0MRevenue 2020: $492,695Expenses 2020: $458,936Net Income 2020: $33,7592020Revenue 2021: $612,805Expenses 2021: $573,385Net Income 2021: $39,4202021Revenue 2022: $458,522Expenses 2022: $563,435Net Income 2022: -$104,9132022Revenue 2023: $118,903Expenses 2023: $579,591Net Income 2023: -$460,6882023Revenue 2024: $712,546Expenses 2024: $1,368,113Net Income 2024: -$655,5672024

Highlighted filing

2024

Revenue$712,546
Expenses$1,368,113
Net Income-$655,567
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,377,846
Liabilities
$377,655
Net assets
$1,000,191
Revenue
$712,546
Expenses
$1,368,113
Net income
-$655,567
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.38$0.38$1.00$0.71$1.37$0.66
2023Detailed filing. Detailed filing data is available for this year.$0.78$0.26$0.52$0.12$0.58$0.46
2022Detailed filing. Detailed filing data is available for this year.$1.18$0.20$0.98$0.46$0.56$0.10
2021Detailed filing. Detailed filing data is available for this year.$1.10$0.01$1.09$0.61$0.57$0.04
2020Detailed filing. Detailed filing data is available for this year.$1.05$0.01$1.04$0.49$0.46$0.03
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Mar 13, 2025
Return Version
2024v5.1
Gross Receipts
$712,546
Mission and Program Overview

Mission

The vision of 1040i is to transform the lives of people in need by fighting pain and suffering in the most isolated on our globe. The primary focus is centered on health and education needs between 10 degrees and 40 degrees north of the equator spanning across north africa

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$1,226,585--
Savings and Temporary Cash Investments$196,663$712,441▲ $515,778
Land, Buildings, and Equipment, Net$432,994$432,994→ $0
Cash and Non-Interest-Bearing Accounts$154,369$232,411▲ $78,042
Total Assets$2,010,611$1,377,846▼ $632,765
Liabilities
Accounts Payable and Accrued Expenses$354,853$377,655▲ $22,802
Total Liabilities$354,853$377,655▲ $22,802
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,655,758$1,000,191▼ $655,567
Total Net Assets Fund Balance$1,655,758$1,000,191▼ $655,567
Total Liabilities and Net Assets / Fund Balance$2,010,611$1,377,846▼ $632,765

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$432,994$233,392-
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseTotal
Mike CousineauPresidentFT$73,165$73,165

Board Members and Trustees

NameTitle
Rob GaribayVice President
Blaine RogersBoard Member
Tim RolandBoard Member
Joe VanbreemanSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$712,546
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$712,546
Change in Net Assets
$-655,567
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,241,230
Salaries, Compensation, and Employee Benefits$126,883
Total Fundraising Expense$1,108
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$110,665--$110,665
Payroll Taxes$7,216--$7,216
Fees for Services Accounting-$7,170-$7,170
Other Salaries and Wages-$4,667-$4,667
Other Employee Benefits$4,335--$4,335
Information Technology-$3,958-$3,958
Office Expenses$1,725--$1,725
Travel--$916$916
All Other Expenses-$292-$292
Advertising--$192$192
Other Expenses-$168-$168
Total Functional Expenses$123,941$1,243,064$1,108$1,368,113
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990 governing body review Part VI line 11

“This schedule 990 and all related schedules were completed and distrubuted by email to all board members for review and approval prior to filing.”

Conflict of interest policy compliance Part VI line 12C

“104i has a written policy regarding conflicts of interest, and it is distributed to all board members annually. At that time the board members disclose any conflicts of interest they have, or that they have none”

CEO executive director top management comp Part VI line 15A

“The 1040i board evaluates and sets salaries for the president and staff. The salaries are evaluated based upon duties, workload and performance, as well as consideration of compensation of similar positions at other nonprofit entities.”

Other officer or key employee compensation Part VI line 15B

“The 1040i board evaluates and sets salaries for the president and staff. The salaries are evaluated based upon duties, workload and performance, as well as consideration of compensation of similar positions at other nonprofit entities.”

Governing documents etc available to public Part VI line 19

“1040i maintains their records to be available upon written request to 1040i.”

Filing and Contact Details

Filer

Filer Name
The 1040 Initiative Inc
EIN
27-0659329
In Care Of
% MIKE COUSINEAU
Phone
4059195540
Address
PO BOX 721765, NORMAN, OK 73070
Doing Business As
1040i

Signing Officer

Name
Mike Cousineau
Title
President
Phone
4059195540
Signed
2025-03-13
Discuss with paid preparer
Yes

Organization Details

Formed
2009
Legal Domicile
Ok
Voting Board Members
5
Independent Board Members
4
Employees
1

Preparer

Firm
JJ Woodie CPA
Address
10400 Greenbriar Pl, Oklahoma City, OK 73159
Preparer
Jj Woodie
Phone
4056920031
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1104I HAS A WRITTEN POLICY REGARDING CONFLICTS OF INTEREST, AND IT IS DISTRIBUTED TO ALL BOARD MEMBERS ANNUALLY. AT THAT TIME THE BOARD MEMBERS DISCLOSE ANY CONFLICTS OF INTEREST THEY HAVE, OR THAT THEY HAVE NONE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE 1040I BOARD EVALUATES AND SETS SALARIES FOR THE PRESIDENT AND STAFF. THE SALARIES ARE EVALUATED BASED UPON DUTIES, WORKLOAD AND PERFORMANCE, AS WELL AS CONSIDERATION OF COMPENSATION OF SIMILAR POSITIONS AT OTHER NONPROFIT ENTITIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE 1040I BOARD EVALUATES AND SETS SALARIES FOR THE PRESIDENT AND STAFF. THE SALARIES ARE EVALUATED BASED UPON DUTIES, WORKLOAD AND PERFORMANCE, AS WELL AS CONSIDERATION OF COMPENSATION OF SIMILAR POSITIONS AT OTHER NONPROFIT ENTITIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt41040I MAINTAINS THEIR RECORDS TO BE AVAILABLE UPON WRITTEN REQUEST TO 1040I.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Other officer or key employee compensation Part VI line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Governing documents etc available to public Part VI line 19
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0MIKE COUSINEAU
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/PhoneNum04059195540
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-03-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE 1040 INITIATIVE INC
ReturnHeader/Filer/BusinessNameControlTxt01040
ReturnHeader/Filer/EIN0270659329
ReturnHeader/Filer/InCareOfNm0% MIKE COUSINEAU
ReturnHeader/Filer/PhoneNum04059195540
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0472437940
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0JJ Woodie CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt010400 Greenbriar Pl
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Oklahoma City
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0OK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd073159
ReturnHeader/PreparerPersonGrp/PhoneNum04056920031
ReturnHeader/PreparerPersonGrp/PreparationDt02025-06-10
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JJ WOODIE
ReturnHeader/ReturnTs02025-06-10T09:17:37-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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