Civic Intelligence

Infinite Possibilities Inc.

990 • Fiscal year 2023 • EIN 27-0784542

Jan 01, 2023 to Dec 31, 2023 • Filed on Aug 15, 2024

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

71st percentile

0.03x

Higher debt load relative to assets than 71% of similar nonprofits.

2023 filings • NTEE P • <$500k nonprofits • Source year 2023

Liabilities / Revenue

69th percentile

0.01x

Higher debt load relative to revenue than 69% of similar nonprofits.

2023 filings • NTEE P • <$500k nonprofits • Source year 2023

Net Margin

15th percentile

-21%

Higher net margin than 15% of similar nonprofits.

2023 filings • NTEE P • <$500k nonprofits • Source year 2023

Top Officer Pay

98th percentile

$87,304

Higher top officer pay than 98% of similar nonprofits.

Top officer pay equals 18.6% of source-year revenue.

2023 filings • NTEE P • <$500k nonprofits • Source year 2023

Asset Growth

18th percentile

-33%

Faster asset growth than 18% of similar nonprofits.

2023 filings • NTEE P • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

38th percentile

-6.1%

Faster revenue growth than 38% of similar nonprofits.

2023 filings • NTEE P • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets71st percentile

Assets

Down

$202,605

Down $99,204 (-33%) from 2022

Net Assets

Down

$196,608

Down $99,227 (-34%) from 2022

Liabilities

Up

$5,997

Up $23 (+0.4%) from 2022

Revenue And Expenses
Liabilities / Revenue69th percentileNet Margin15th percentile

Revenue

Down

$468,704

Down $30,702 (-6.1%) from 2022

Expenses

Up

$567,943

Up $53,416 (+10%) from 2022

Net Income

Down

-$99,239

Down $84,118 (-556%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth18th 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 2023: $202,605Liabilities 2023: $5,997Net Assets 2023: $196,6082023Assets 2024: $122,716Liabilities 2024: $0Net Assets 2024: $122,7162024

Highlighted filing

2023

Assets$202,605
Liabilities$5,997
Net Assets$196,608
Open 2023 Filing

Operations Trend

Revenue Growth38th 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 2023: $468,704Expenses 2023: $567,943Net Income 2023: -$99,2392023Revenue 2024: $498,893Expenses 2024: $572,785Net Income 2024: -$73,8922024

Highlighted filing

2023

Revenue$468,704
Expenses$567,943
Net Income-$99,239
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Aug 15, 2024
Return Version
2023v5.1
Gross Receipts
$468,704
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$295,835$196,608▼ $99,227
Cash and Non-Interest-Bearing Accounts$248,142$148,937▼ $99,205
Savings and Temporary Cash Investments$15,029$15,030▲ $1
Total Assets$301,809$202,605▼ $99,204
Other Assets Total$38,638$38,638→ $0
Liabilities
Other Liabilities$5,974$5,997▲ $23
Total Liabilities$5,974$5,997▲ $23
Net Assets / Fund Balance
Total Net Assets Fund Balance$295,835$196,608▼ $99,227
Total Liabilities and Net Assets / Fund Balance$301,809$202,605▼ $99,204
Compensation and Service Providers
Top Officer Pay98th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Kanika TurrentineExecutive DirectorFT$87,304$87,304

Board Members and Trustees

NameTitle
Carla Carter RoseBoard Member
Judith ForrestBoard Member
Latasha CrudupBoard Member
Teresa WinbrowBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$468,704
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$2,120
Change in Net Assets
$-99,239
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$368,949
Salaries, Compensation, and Employee Benefits$198,994
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$106,820--$106,820
Current Officers, Directors, Trustees, and Key Employees$43,654$43,655-$87,309
Office Expenses$8,054$8,054-$16,108
Occupancy-$13,940-$13,940
All Other Expenses-$6,503-$6,503
Insurance-$5,612-$5,612
Conferences and Meetings$5,094--$5,094
Other Employee Benefits$4,865--$4,865
Other Expenses$1,185$150,565-$1,185
Travel$446--$446
Total Functional Expenses$297,791$270,152$0$567,943
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 12C

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

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 15B

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

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
2024-08-15
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 Services
Address
266 WILL JEFFERSON ROAD, HENDERSON, NC 27537
Preparer
Jacquetta H Bullock
Phone
2522046616
Supplemental Narrative

Additional Explanations

PART IX, LINE 24E

“Taxpayer acknowledged and affirmed the following: We prepared the 2023 Federal and North Carolina tax returns from information that they furnished us. It is your responsibility to provide all the information required for the preparation of complete and accurate returns. Taxpayer affirm that to the best of your knowledge, all the information submitted to us is correct and includes all income, deductions and other information necessary for the preparation of the above returns. Bank reconciliation along with Quickbook reports were use to verify the data you submitted, although we may have asked you to clarify some of it. Taxpayer should retain all documents, canceled checks and other data that form the basis of income and deductions. There may be necessary to prove the accuracy and completeness of the returns to a taxing authority. You have the final responsibility for the income tax returns and, therefore, you should review them carefully before you sign them.”

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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/ExplanationTxt0Board Members receive and review 990 filings with schedules prior to final release and sign-off.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Board members perform an annual independent review using comparitive data to determine and approve annual salary compensation.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Board performs review and uses comparative data to assess changes to compensation based upon similar roles and responsibilities.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Taxpayer acknowledged and affirmed the following: We prepared the 2023 Federal and North Carolina tax returns from information that they furnished us. It is your responsibility to provide all the information required for the preparation of complete and accurate returns. Taxpayer affirm that to the best of your knowledge, all the information submitted to us is correct and includes all income, deductions and other information necessary for the preparation of the above returns. Bank reconciliation along with Quickbook reports were use to verify the data you submitted, although we may have asked you to clarify some of it. Taxpayer should retain all documents, canceled checks and other data that form the basis of income and deductions. There may be necessary to prove the accuracy and completeness of the returns to a taxing authority. You have the final responsibility for the income tax returns and, therefore, you should review them carefully before you sign them.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0PART VI, SECTION B, LINE 11
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3PART VI, SECTION B, LINE 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4PART IX, LINE 24e
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0202605
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IRS990/TypeOfOrganizationCorpInd0X
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IRS990/USAddress/CityNm0HENDERSON
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027536
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0WWW.INFINITEPOSSIBILITIESINC.COM
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0KANIKA TURRENTINE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum02524311926
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-08-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0INFINITE POSSIBILITIES INC
ReturnHeader/Filer/BusinessNameControlTxt0INFI
ReturnHeader/Filer/EIN0270784542
ReturnHeader/Filer/PhoneNum02524311926
ReturnHeader/Filer/USAddress/AddressLine1Txt0POST OFFICE BOX 3042
ReturnHeader/Filer/USAddress/CityNm0HENDERSON
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0850992635
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0JBS TAX AND ACCOUNTING SERVICES
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0266 WILL JEFFERSON ROAD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0HENDERSON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd027537
ReturnHeader/PreparerPersonGrp/PhoneNum02522046616
ReturnHeader/PreparerPersonGrp/PreparationDt02024-08-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JACQUETTA H BULLOCK
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02024-11-07T07:16:48-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$202,605
Liabilities
$5,997
Net assets
$196,608
Revenue
$468,704
Expenses
$567,943
Net income
-$99,239
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
2023Detailed filing. Detailed filing data is available for this year.$2.03$0.06$1.97$4.69$5.68$0.99
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
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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