Civic Intelligence

Infinite Possibilities Inc.

990 • Fiscal year 2021 • EIN 27-0784542

Jan 01, 2021 to Dec 31, 2021 • Filed on May 13, 2022

Organization ProfileWWW.INFINITEPOSSIBILITIESINC.COM
Post Office Box 3042Henderson, NC 27536

(252) 431-1926

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

64th percentile

0.02x

Higher debt load relative to assets than 64% of similar nonprofits.

2021 filings • NTEE P • <$500k nonprofits • Source year 2021

Liabilities / Revenue

65th percentile

0.02x

Higher debt load relative to revenue than 65% of similar nonprofits.

2021 filings • NTEE P • <$500k nonprofits • Source year 2021

Net Margin

38th percentile

1.4%

Higher net margin than 38% of similar nonprofits.

2021 filings • NTEE P • <$500k nonprofits • Source year 2021

Top Officer Pay

98th percentile

$91,674

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 25.0% of source-year revenue.

2021 filings • NTEE P • <$500k nonprofits • Source year 2021

Asset Growth

11th percentile

-38%

Faster asset growth than 11% of similar nonprofits.

2021 filings • NTEE P • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

20th percentile

-37%

Faster revenue growth than 20% of similar nonprofits.

2021 filings • NTEE P • <$500k nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets64th percentile

Assets

Down

$375,850

Down $225,706 (-38%) from 2020

Net Assets

Down

$369,856

Down $225,707 (-38%) from 2020

Liabilities

Up

$5,994

Up $1 (+0.0%) from 2020

Revenue And Expenses
Liabilities / Revenue65th percentileNet Margin38th percentile

Revenue

Down

$366,226

Down $216,829 (-37%) from 2020

Expenses

Up

$361,054

Up $55,406 (+18%) from 2020

Net Income

Down

$5,172

Down $272,235 (-98%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth11th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$800K$600K$400K$200K$0Assets 2016: $95,403Liabilities 2016: $0Net Assets 2016: $95,4032016Assets 2017: $150,607Liabilities 2017: $6,747Net Assets 2017: $143,8602017Assets 2019: $174,250Liabilities 2019: $5,993Net Assets 2019: $168,2572019Assets 2020: $601,556Liabilities 2020: $5,993Net Assets 2020: $595,5632020Assets 2021: $375,850Liabilities 2021: $5,994Net Assets 2021: $369,8562021Assets 2022: $301,809Liabilities 2022: $5,974Net Assets 2022: $295,8352022Assets 2024: $122,716Liabilities 2024: $0Net Assets 2024: $122,7162024

Highlighted filing

2021

Assets$375,850
Liabilities$5,994
Net Assets$369,856
Open 2021 Filing

Operations Trend

Revenue Growth20th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0-$200KRevenue 2016: $405,129Expenses 2016: $400,423Net Income 2016: $4,7062016Revenue 2017: $329,504Expenses 2017: $330,303Net Income 2017: -$7992017Revenue 2019: $324,088Expenses 2019: $324,250Net Income 2019: -$1622019Revenue 2020: $583,055Expenses 2020: $305,648Net Income 2020: $277,4072020Revenue 2021: $366,226Expenses 2021: $361,054Net Income 2021: $5,1722021Revenue 2022: $499,406Expenses 2022: $514,527Net Income 2022: -$15,1212022Revenue 2024: $498,893Expenses 2024: $572,785Net Income 2024: -$73,8922024

Highlighted filing

2021

Revenue$366,226
Expenses$361,054
Net Income$5,172
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
May 13, 2022
Return Version
2021v4.2
Gross Receipts
$366,226
Mission and Program Overview

Mission

To promote growth, responsibility and self-sufficiency among families headed by single mothers.

To promote growth,responsibility safety and self-sufficiency, victims of DV/SA headed by single mothers, at-risk youth and the homeless.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$595,563$369,856▼ $225,707
Cash and Non-Interest-Bearing Accounts$573,490$302,185▼ $271,305
Savings and Temporary Cash Investments$27,206$15,027▼ $12,179
Total Assets$601,556$375,850▼ $225,706
Other Assets Total$860$58,638▲ $57,778
Liabilities
Other Liabilities$5,993$5,994▲ $1
Total Liabilities$5,993$5,994▲ $1
Net Assets / Fund Balance
Total Net Assets Fund Balance$595,563$369,856▼ $225,707
Total Liabilities and Net Assets / Fund Balance$601,556$375,850▼ $225,706
Compensation and Service Providers
Top Officer Pay98th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Kanika TurrentineExecutive DirectorFT$91,674$91,674

Board Members and Trustees

NameTitle
Judith ForrestBoard Member
Latasha WilderBoard Member
Latonya CarterBoard Member
Teresa WinbrowBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$366,226
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$21,903
Change in Net Assets
$5,172
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$218,010
Other Expenses$143,044
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$106,147--$106,147
Current Officers, Directors, Trustees, and Key Employees$91,674--$91,674
Other Expenses$46,702$15,567-$62,269
Office Expenses$32,817$10,939-$43,756
Occupancy-$15,528-$15,528
Payroll Taxes$15,132--$15,132
Insurance-$6,791-$6,791
Other Employee Benefits$5,057--$5,057
Total Functional Expenses$297,529$63,525$0$361,054
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
No
Backup withholding compliance
No
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

Part VI, Section B, Line 11

“Board Members receive and review 990 filings with schedules prior to final release and sign-off.”

PART VI, SECTION B, LINE 15A

“Board members perform an annual independent review using comparitive data to determine and approve annual salary compensation.”

PART VI, SECTION B, LINE 12C

“Board members annually review policies for ongoing compliance, changes and/or corrections.”

PART VI, SECTION B, LINE 15B

“Board performs review and uses comparative data to assess changes to compensation based upon similar roles and responsibilities.”

Part VI, Section C, Line 19

“Board members and meetings are available for public viewing upon request.”

Filing and Contact Details

Filer

Filer Name
Infinite Possibilities Inc
EIN
27-0784542
Phone
2524311926
Address
POST OFFICE BOX 3042, HENDERSON, NC 27536

Signing Officer

Name
Kanika Turrentine
Title
Executive Director
Phone
2524311926
Signed
2022-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kanika Turrentine
Formed
2009
Legal Domicile
Nc
Voting Board Members
5
Independent Board Members
4
Employees
4

Preparer

Firm
Jbs Tax and Accounting Service
Address
266 WILL JEFFERSON ROAD, HENDERSON, NC 27537
Preparer
Jacquetta H Bullock
Phone
2522046616
Supplemental Narrative

Additional Explanations

Form 990 - Supplemental Information

“Fringe Benefits”

Raw XML Appendix309 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Board Members receive and review 990 filings with schedules prior to final release and sign-off.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Board members perform an annual independent review using comparitive data to determine and approve annual salary compensation.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Board members annually review policies for ongoing compliance, changes and/or corrections.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - SUPPLEMENTAL INFORMATION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2PART VI, SECTION B, LINE 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3PART VI, SECTION B, LINE 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4PART VI, SECTION B, LINE 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5PART VI, SECTION C, LINE 19
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ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JACQUETTA H BULLOCK
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02022-08-10T18:36:17-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0KANIKA
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0TURRENTINE
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$375,850
Liabilities
$5,994
Net assets
$369,856
Revenue
$366,226
Expenses
$361,054
Net income
$5,172
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.23$0.00$1.23$4.99$5.73$0.74
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.02$0.06$2.96$4.99$5.15$0.15
2021Detailed filing. Detailed filing data is available for this year.$3.76$0.06$3.70$3.66$3.61$0.05
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.02$0.06$5.96$5.83$3.06$2.77
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.74$0.06$1.68$3.24$3.24$0.00
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.51$0.07$1.44$3.30$3.30$0.01
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.95$0.00$0.95$4.05$4.00$0.05