Civic Intelligence

Limitless Potential Inc.

990 • Fiscal year 2020 • EIN 27-2853497

Jan 01, 2020 to Dec 31, 2020 • Filed on May 04, 2021

Organization ProfileN/A
5802 Prairie Grass Ln NECedar Rapids, IA 52411

(319) 239-4339

Siviq Scores

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

Liabilities / Assets

41st percentile

0.05x

Higher debt load relative to assets than 41% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

26th percentile

0.02x

Higher debt load relative to revenue than 26% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

75th percentile

22%

Higher net margin than 75% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

71st percentile

$104,431

Higher top officer pay than 71% of similar nonprofits.

Top officer pay equals 6.9% of source-year revenue.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

95th percentile

143%

Faster asset growth than 95% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

68th percentile

12%

Faster revenue growth than 68% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets41st percentile

Assets

Up

$605,281

Up $356,311 (+143%) from 2019

Net Assets

Up

$572,971

Up $332,413 (+138%) from 2019

Liabilities

Up

$32,310

Up $23,898 (+284%) from 2019

Revenue And Expenses
Liabilities / Revenue26th percentileNet Margin75th percentile

Revenue

Up

$1,512,040

Up $160,079 (+12%) from 2019

Expenses

Up

$1,179,627

Up $22,582 (+2.0%) from 2019

Net Income

Up

$332,413

Up $137,497 (+71%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth95th percentile

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

$1.0M$500K$0-$500KAssets 2012: $15,126Liabilities 2012: $23,112Net Assets 2012: -$7,9862012Assets 2013: $18,974Liabilities 2013: $15,129Net Assets 2013: $3,8452013Assets 2014: -$5,121Liabilities 2014: $136,342Net Assets 2014: -$141,4632014Assets 2015: -$1,597Liabilities 2015: $156,673Net Assets 2015: -$158,2702015Assets 2016: $21,916Liabilities 2016: $145,723Net Assets 2016: -$123,8072016Assets 2017: $22,212Liabilities 2017: $119,622Net Assets 2017: -$97,4102017Assets 2019: $248,970Liabilities 2019: $8,412Net Assets 2019: $240,5582019Assets 2020: $605,281Liabilities 2020: $32,310Net Assets 2020: $572,9712020Assets 2021: $527,177Liabilities 2021: $38,778Net Assets 2021: $488,3992021Assets 2022: $320,067Liabilities 2022: $26,845Net Assets 2022: $293,2222022Assets 2023: $449,051Liabilities 2023: $13,133Net Assets 2023: $435,9182023Assets 2024: $665,594Liabilities 2024: $26,468Net Assets 2024: $639,1262024

Highlighted filing

2020

Assets$605,281
Liabilities$32,310
Net Assets$572,971
Open 2020 Filing

Operations Trend

Revenue Growth68th percentile

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

$2.0M$1.5M$1.0M$500K$0-$500KExpenses 2012: $711,2352012Revenue 2013: $926,118Expenses 2013: $914,287Net Income 2013: $11,8312013Revenue 2014: $844,856Expenses 2014: $990,164Net Income 2014: -$145,3082014Revenue 2015: $917,852Expenses 2015: $934,659Net Income 2015: -$16,8072015Revenue 2016: $1,294,367Expenses 2016: $1,259,904Net Income 2016: $34,4632016Revenue 2017: $990,030Expenses 2017: $963,633Net Income 2017: $26,3972017Revenue 2019: $1,351,961Expenses 2019: $1,157,045Net Income 2019: $194,9162019Revenue 2020: $1,512,040Expenses 2020: $1,179,627Net Income 2020: $332,4132020Revenue 2021: $1,048,833Expenses 2021: $1,133,405Net Income 2021: -$84,5722021Revenue 2022: $849,023Expenses 2022: $1,044,200Net Income 2022: -$195,1772022Revenue 2023: $1,390,807Expenses 2023: $1,248,111Net Income 2023: $142,6962023Revenue 2024: $1,536,526Expenses 2024: $1,423,560Net Income 2024: $112,9662024

Highlighted filing

2020

Revenue$1,512,040
Expenses$1,179,627
Net Income$332,413
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
May 4, 2021
Return Version
2020v4.1
Gross Receipts
$1,512,040
Mission and Program Overview

Mission

Providing supported community living services to children with disabilities and their families in the state of iowa

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$248,970$605,281▲ $356,311
Rtn Earn Endowment Incm Other Fnds$240,558$572,971▲ $332,413
Total Assets$248,970$605,281▲ $356,311
Liabilities
Other Liabilities$8,412$32,310▲ $23,898
Total Liabilities$8,412$32,310▲ $23,898
Net Assets / Fund Balance
Total Net Assets Fund Balance$240,558$572,971▲ $332,413
Total Liabilities and Net Assets / Fund Balance$248,970$605,281▲ $356,311
Compensation and Service Providers
Top Officer Pay71st percentile

Employees

NameTitleFull / Part TimeBaseTotal
Edward MeadDirector of OperationsFT$104,431$104,431
Jeremy GomezExecutive DirectorFT$104,431$104,431
Revenue and Support

Revenue Composition

Contributions and Grants
$853
Program Service Revenue
$1,510,976
Investment Income
$211
Other Revenue
$0
All Other Contributions
$853
Change in Net Assets
$332,413
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$840,011
Other Expenses$339,616
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Comp Disqual Persons$511,584$0$0$511,584
Current Officers, Directors, Trustees, and Key Employees$208,862$0$0$208,862
Occupancy$145,206$0$0$145,206
Other Employee Benefits$61,057$0$0$61,057
Payroll Taxes$58,508$0$0$58,508
Office Expenses$37,426$0$0$37,426
Insurance$30,660$0$0$30,660
Fees for Services Accounting$9,046$0$0$9,046
Other Expenses$4,077$0$0$4,077
Advertising$1,408$0$0$1,408
Interest$15$0$0$15
Total Functional Expenses$1,179,627$0$0$1,179,627
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payroll Liabilities$25,542
Line of Credit$6,768
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Audit committee
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Limitless Potential Inc
EIN
27-2853497
Phone
3192394339
Address
5802 PRAIRIE GRASS LN NE, CEDAR RAPIDS, IA 52411
Doing Business As
Kids First of Iowa

Signing Officer

Name
Jeremy Gomez
Title
Director
Phone
3192394339
Signed
2021-05-04

Organization Details

Principal Officer
Jeremy Gomez
Formed
2010
Legal Domicile
Ia
Voting Board Members
6
Independent Board Members
6
Employees
39
Volunteers
50

Preparer

Firm
John Freeman CPA
Address
222 Edgewood Rd NW, CEDAR RAPIDS, IA 52405
Preparer
John Freeman
Phone
3193965660
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“REVIEW BY DIRECTORS”

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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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IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt05802 PRAIRIE GRASS LN NE
IRS990/USAddress/CityNm0CEDAR RAPIDS
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd052411
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/PersonNm0JEREMY GOMEZ
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum03192394339
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-05-04
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LIMITLESS POTENTIAL INC
ReturnHeader/Filer/BusinessNameControlTxt0LIMI
ReturnHeader/Filer/EIN0272853497
ReturnHeader/Filer/PhoneNum03192394339
ReturnHeader/Filer/USAddress/AddressLine1Txt05802 PRAIRIE GRASS LN NE
ReturnHeader/Filer/USAddress/CityNm0CEDAR RAPIDS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd052411
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0JOHN FREEMAN CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0222 Edgewood Rd NW
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CEDAR RAPIDS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd052405
ReturnHeader/PreparerPersonGrp/PhoneNum03193965660
ReturnHeader/PreparerPersonGrp/PreparationDt02021-11-11
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOHN FREEMAN
ReturnHeader/ReturnTs02021-11-11T10:13:26-08:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JEREMY
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0GOMEZ
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$605,281
Liabilities
$32,310
Net assets
$572,971
Revenue
$1,512,040
Expenses
$1,179,627
Net income
$332,413
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.67$0.03$0.64$1.54$1.42$0.11
2023Detailed filing. Detailed filing data is available for this year.$0.45$0.01$0.44$1.39$1.25$0.14
2022Detailed filing. Detailed filing data is available for this year.$0.32$0.03$0.29$0.85$1.04$0.20
2021Detailed filing. Detailed filing data is available for this year.$0.53$0.04$0.49$1.05$1.13$0.08
2020Detailed filing. Detailed filing data is available for this year.$0.61$0.03$0.57$1.51$1.18$0.33
2019Detailed filing. Detailed filing data is available for this year.$0.25$0.01$0.24$1.35$1.16$0.19
2017Detailed filing. Detailed filing data is available for this year.$0.02$0.12$0.10$0.99$0.96$0.03
2016Detailed filing. Detailed filing data is available for this year.$0.02$0.15$0.12$1.29$1.26$0.03
2015Detailed filing. Detailed filing data is available for this year.$0.00$0.16$0.16$0.92$0.93$0.02
2014Detailed filing. Detailed filing data is available for this year.$0.01$0.14$0.14$0.84$0.99$0.15
2013Detailed filing. Detailed filing data is available for this year.$0.02$0.02$0.00$0.93$0.91$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.02$0.02$0.01$0.71