Civic Intelligence

Covey Inc.

990 • Fiscal year 2020 • EIN 39-6026845

Jan 01, 2020 to Dec 31, 2020 • Filed on Jun 14, 2021

1930 Algoma BlvdOshkosh, WI 54901

(920) 424-4071

Siviq Scores

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

Liabilities / Assets

46th percentile

0.08x

Higher debt load relative to assets than 46% of similar nonprofits.

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

Liabilities / Revenue

66th percentile

0.27x

Higher debt load relative to revenue than 66% of similar nonprofits.

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

Net Margin

67th percentile

15%

Higher net margin than 67% of similar nonprofits.

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

Top Officer Pay

70th percentile

$102,046

Higher top officer pay than 70% of similar nonprofits.

Top officer pay equals 8.3% of source-year revenue.

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

Asset Growth

62nd percentile

12%

Faster asset growth than 62% of similar nonprofits.

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

Revenue Growth

72nd percentile

16%

Faster revenue growth than 72% of similar nonprofits.

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

Assets

Up

$4,412,262

Up $460,423 (+12%) from 2019

Net Assets

Up

$4,073,596

Up $502,268 (+14%) from 2019

Liabilities

Down

$338,666

Down $41,845 (-11%) from 2019

Revenue

Up

$1,236,794

Up $171,476 (+16%) from 2019

Expenses

Down

$1,045,158

Down $85,437 (-7.6%) from 2019

Net Income

Up

$191,636

Up $256,913 (+394%) from 2019

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2010: $3,579,293Liabilities 2010: $445,656Net Assets 2010: $3,133,6372010Assets 2011: $3,374,453Liabilities 2011: $532,996Net Assets 2011: $2,841,4572011Assets 2012: $3,491,155Liabilities 2012: $448,487Net Assets 2012: $3,042,6682012Assets 2013: $3,878,380Liabilities 2013: $433,584Net Assets 2013: $3,444,7962013Assets 2014: $3,997,107Liabilities 2014: $423,715Net Assets 2014: $3,573,3922014Assets 2015: $3,959,571Liabilities 2015: $467,244Net Assets 2015: $3,492,3272015Assets 2016: $4,066,317Liabilities 2016: $406,337Net Assets 2016: $3,659,9802016Assets 2017: $4,048,717Liabilities 2017: $367,782Net Assets 2017: $3,680,9352017Assets 2018: $3,537,683Liabilities 2018: $376,496Net Assets 2018: $3,161,1872018Assets 2019: $3,951,839Liabilities 2019: $380,511Net Assets 2019: $3,571,3282019Assets 2020: $4,412,262Liabilities 2020: $338,666Net Assets 2020: $4,073,5962020Assets 2021: $5,053,825Liabilities 2021: $565,416Net Assets 2021: $4,488,4092021Assets 2022: $4,426,581Liabilities 2022: $852,735Net Assets 2022: $3,573,8462022Assets 2023: $4,802,026Liabilities 2023: $1,112,542Net Assets 2023: $3,689,4842023Assets 2024: $5,090,792Liabilities 2024: $862,545Net Assets 2024: $4,228,2472024

Highlighted filing

2020

Assets$4,412,262
Liabilities$338,666
Net Assets$4,073,596

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $1,545,0452010Expenses 2011: $1,758,9742011Expenses 2012: $1,703,4392012Revenue 2013: $1,646,305Expenses 2013: $1,555,646Net Income 2013: $90,6592013Revenue 2014: $1,637,237Expenses 2014: $1,527,780Net Income 2014: $109,4572014Revenue 2015: $1,547,289Expenses 2015: $1,463,764Net Income 2015: $83,5252015Revenue 2016: $1,702,335Expenses 2016: $1,668,207Net Income 2016: $34,1282016Revenue 2017: $1,164,226Expenses 2017: $1,366,142Net Income 2017: -$201,9162017Revenue 2018: $1,041,407Expenses 2018: $1,308,042Net Income 2018: -$266,6352018Revenue 2019: $1,065,318Expenses 2019: $1,130,595Net Income 2019: -$65,2772019Revenue 2020: $1,236,794Expenses 2020: $1,045,158Net Income 2020: $191,6362020Revenue 2021: $1,226,795Expenses 2021: $1,217,170Net Income 2021: $9,6252021Revenue 2022: $1,334,341Expenses 2022: $1,529,602Net Income 2022: -$195,2612022Revenue 2023: $1,713,513Expenses 2023: $1,891,755Net Income 2023: -$178,2422023Revenue 2024: $2,515,409Expenses 2024: $2,115,573Net Income 2024: $399,8362024

Highlighted filing

2020

Revenue$1,236,794
Expenses$1,045,158
Net Income$191,636
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Jun 14, 2021
Return Version
2020v4.0
Gross Receipts
$1,530,026
Mission and Program Overview

Mission

The mission of the organization is to provide services that positively affect the quality of life for persons with disabilities and their families.

Creating opportunities that foster personal growth.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$2,242,617$2,504,546▲ $261,929
Land, Buildings, and Equipment, Net$508,462$490,996▼ $17,466
Cash and Non-Interest-Bearing Accounts$74,867$184,064▲ $109,197
Pledges and Grants Receivable$46,504$93,800▲ $47,296
Accounts Receivable$36,534$48,348▲ $11,814
Savings and Temporary Cash Investments$30,000--
Prepaid Expenses and Deferred Charges$3,857$10,557▲ $6,700
Total Assets$3,951,839$4,412,262▲ $460,423
Other Assets Total$1,008,998$1,079,951▲ $70,953
Liabilities
Mortgage Notes Payable Secured by Investment Property$267,774$246,072▼ $21,702
Accounts Payable and Accrued Expenses$71,267$56,074▼ $15,193
Unsecured Notes Loans Payable$41,470$36,520▼ $4,950
Total Liabilities$380,511$338,666▼ $41,845
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,332,128$2,678,431▲ $346,303
Net Assets With Donor Restrictions$1,239,200$1,395,165▲ $155,965
Total Net Assets Fund Balance$3,571,328$4,073,596▲ $502,268
Total Liabilities and Net Assets / Fund Balance$3,951,839$4,412,262▲ $460,423

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$372,508$321,952$694,460
Equipment$43,627$172,448$216,075
Land$74,861-$74,861
Other Assets Org$10,048--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$1,007,988$5,850▲ $115,210$-43,175$1,079,951
2019$887,103$5,600▲ $165,131$-43,561$1,007,988
2018$925,092$52,437▼ $40,595$-43,260$887,103
2017$864,982-▲ $60,110-$925,092
2016$831,940-▲ $33,042-$864,982
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Pam SchutzCEOFT$80,401$21,645$102,046

Board Members and Trustees

NameTitle
Laura BallietPresident
Erin VacheresseDirector
Joe ThompsonDirector
Mary Gietman SchellingerDirector
Scott JenningsDirector
Jeffrey AhernsTreasurer
Elly HeuringVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$473,150
Program Service Revenue
$630,656
Investment Income
$129,223
Other Revenue
$3,765
All Other Contributions
$177,654
Change in Net Assets
$191,636

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,215,858
Revenue Not Reported on Financial Statements
$20,936
Revenue Not Reported on Form 990
$310,632
Total Revenue per Audited Statements
$1,526,490
Total Revenue per Form 990
$1,236,794
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$703,535
Other Expenses$341,623
Total Fundraising Expense$5,475
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$432,830$77,000$289$510,119
Current Officers, Directors, Trustees, and Key Employees$14,144$83,597$4,305$102,046
Occupancy$47,712$46,495-$94,207
Information Technology$20,548$38,634-$59,182
Other Employee Benefits$34,903$13,765$492$49,160
Depreciation Depletion$24,764$10,613-$35,377
Payroll Taxes$25,624$9,080$255$34,959
Insurance$22,468$11,317$130$33,915
Fees for Service Investment Mgmnt Fees-$20,936-$20,936
Fees for Services Accounting-$15,995-$15,995
Interest$13,970$1,052-$15,022
Pension Plan Contributions$6,372$875$4$7,251
Office Expenses$630$6,331-$6,961
Fees for Services Other-$5,521-$5,521
Advertising$1,786$2,915-$4,701
Other Expenses$4,286$5,225-$4,286
Travel$2,119$210-$2,329
All Other Expenses$411$1,812-$2,223
Fees for Services Legal-$1,549-$1,549
Total Functional Expenses$684,733$354,950$5,475$1,045,158

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$1,045,158
Expenses per Audited Statements$1,024,222
Total Expenses per Audited Statements$1,024,222
Expenses Not Reported on Financial Statements$20,936
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
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
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, Page 6, Part VI, Line 4

The organization changed the mission statement to "creating opportunities that foster personal growth."

Form 990, Page 6, Part VI, Line 11B

The 990 is reviewed and approved by the board treasurer and management prior to filing. The board is provided with a copy.

Form 990, Page 6, Part VI, Line 12C

Board members, officers, and directors must sign a conflict of interest statement in january of each year. This statement is then kept on file in the administrative office.

Form 990, Page 6, Part VI, Line 15A

The process for determining compensation for the ceo, executive director, or top management is initiated at the board of directors executive committee level. Once the process has been initiated by committee, statistics are collected for both industry and community comparables to provide a relevant range for the salary. Salary increases are based upon measurable achievements throughout the year based on goals set for the year.

Form 990, Page 6, Part VI, Line 15B

Compensation levels for all top management positions are periodically reviewed and compared to industry & community statistics.

Form 990, Page 6, Part VI, Line 19

Governing documents are provided upon request.

Filing and Contact Details

Filer

Filer Name
Covey Inc
EIN
39-6026845
Phone
9204244071
Address
1930 ALGOMA BLVD, OSHKOSH, WI 54901

Signing Officer

Name
Pam Schutz
Title
CEO
Phone
9204244071
Signed
2021-06-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Pam Schutz
Formed
1954
Legal Domicile
Wi
Voting Board Members
7
Independent Board Members
7
Employees
40
Volunteers
52

Preparer

Firm
Huberty & Associates Sc
Address
145 S MARR ST, FOND DU LAC, WI 54935-4434
Preparer
Cynthia Hintz CPA
Phone
9209238400
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 3

Covid 19 had an impact in 2020. We reduced respite services throughout the year, moved life enrichment/community based services to a virtual platform and had to cancel the ican shine bike camp.

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

The purpose of beneficial interests in assets held by various community foundations is to support the organization, operational costs, and the organization's mission. Distributions may generally only be made out of income in accordance with each foundation's spending policy. The organization has granted variance power to the foundations. As such, the board of directors of the foundations have the power to modify any restriction or condition on the distribution of funds if, in its judgement, such restrictions become inconsistent with the charitable needs to the organization or inconsistent with the charitable needs served by the foundations. Beneficial interests in assets held by perpetual trusts include a charitable trust for which the organization is beneficiary of one half of the net income of the perpetual trust on an annual basis.

Schedule D, Page 3, Part X

The organization has been classified as an other-than private foundation and is tax-exempt under section 501(c)(3) of the internal revenue code. The organization is subject to a tax on income from any unrelated business. The organization has evaluated tax positions taken for filing with the internal revenue service and all state jurisdictions where it operates. The organization believes that income tax filing positions will be sustained upon examination and does not anticipate any adjustments that would result in a material adverse effect on the organization's financial condition, results of operations or cash flows. Accordingly, the organization has not recorded any reserves or related accruals for interest and penalties (recognized as part of tax expense) for uncertain income tax positions at december 31, 2020 and 2019. All years not closed by statute of limitations in jurisdictions remain open for examinations.

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IRS990/OtherEmployeeBenefitsGrp/TotalAmt049160
IRS990/OtherExpensesGrp/Desc0STAFF RECRUITMENT/TRAININ
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IRS990/OtherExpensesGrp/ProgramServicesAmt014872
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IRS990/PensionPlanContributionsGrp/FundraisingAmt04
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IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0191636
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0630653
IRS990/SavingsAndTempCashInvstGrp/BOYAmt030000
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IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus3YearsAmt02020
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus4YearsAmt0695
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt05502
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0OTHER INCOME 0
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART III, LINE 12
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0161821
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0290519
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0599108
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0634421
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0776881
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0650803
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0992988
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt03757612
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearMinus1YearAmt050
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IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt078275
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt065290
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt073364
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IRS990ScheduleA/InvestmentIncomeCYPct00.09000
IRS990ScheduleA/InvestmentIncomePYPct00.08000
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
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IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus2YearsAmt02137
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus3YearsAmt02020
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus4YearsAmt0695
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt05502
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0956722
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt01647606
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt01037161
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt01023601
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt01171809
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt01740837
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt05985810
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IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BoardDesignatedBalanceEOYPct00.06230
IRS990ScheduleD/BuildingsGrp/BookValueAmt0372508
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0321952
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0694460
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IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt01007988
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt05850
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt01079951
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt0115210
IRS990ScheduleD/CYEndwmtFundGrp/OtherExpendituresAmt0-43175
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/AdministrativeExpensesAmt0-6285
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt0887103
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt05600
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt01007988
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0165131
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/OtherExpendituresAmt0-43561
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/AdministrativeExpensesAmt0-6571
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IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt052437
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt0887103
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-40595
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/OtherExpendituresAmt0-43260
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt0864982
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt0925092
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt060110
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt0831940
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt0864982
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt033042
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd0false
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd0true

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$5.09$0.86$4.23$2.52$2.12$0.40
2023Detailed filing. Detailed filing data is available for this year.$4.80$1.11$3.69$1.71$1.89$0.18
2022Detailed filing. Detailed filing data is available for this year.$4.43$0.85$3.57$1.33$1.53$0.20
2021Detailed filing. Detailed filing data is available for this year.$5.05$0.57$4.49$1.23$1.22$0.01
2020Detailed filing. Detailed filing data is available for this year.$4.41$0.34$4.07$1.24$1.05$0.19
2019Detailed filing. Detailed filing data is available for this year.$3.95$0.38$3.57$1.07$1.13$0.07
2018Detailed filing. Detailed filing data is available for this year.$3.54$0.38$3.16$1.04$1.31$0.27
2017Detailed filing. Detailed filing data is available for this year.$4.05$0.37$3.68$1.16$1.37$0.20
2016Summary only. Only limited summary data is available for this year.$4.07$0.41$3.66$1.70$1.67$0.03
2015Detailed filing. Detailed filing data is available for this year.$3.96$0.47$3.49$1.55$1.46$0.08
2014Detailed filing. Detailed filing data is available for this year.$4.00$0.42$3.57$1.64$1.53$0.11
2013Detailed filing. Detailed filing data is available for this year.$3.88$0.43$3.44$1.65$1.56$0.09
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.49$0.45$3.04$1.70
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.37$0.53$2.84$1.76
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.58$0.45$3.13$1.55