Civic Intelligence

Tenco Industries Inc

990 • Fiscal year 2015 • EIN 42-0919509

Jul 01, 2014 to Jun 30, 2015 • Filed on Jan 21, 2016

710 Gateway DriveOttumwa, IA 52501

(641) 682-8114

Siviq Scores

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

Liabilities / Assets

72nd percentile

0.46x

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

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Liabilities / Revenue

61st percentile

0.30x

Higher debt load relative to revenue than 61% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Net Margin

52nd percentile

3.2%

Higher net margin than 52% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Top Officer Pay

53rd percentile

$124,503

Higher top officer pay than 53% of similar nonprofits.

Top officer pay equals 2.0% of source-year revenue.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2015

Asset Growth

76th percentile

11%

Faster asset growth than 76% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2014 to 2015

Revenue Growth

87th percentile

41%

Faster revenue growth than 87% of similar nonprofits.

2015 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2014 to 2015

Assets

Up

$4,054,953

Up $391,044 (+11%) from 2014

Net Assets

Up

$2,182,007

Up $202,426 (+10%) from 2014

Liabilities

Up

$1,872,946

Up $188,618 (+11%) from 2014

Revenue

Up

$6,247,629

Up $1,824,095 (+41%) from 2014

Expenses

Up

$6,044,966

Up $1,375,674 (+29%) from 2014

Net Income

Up

$202,663

Up $448,421 (+182%) from 2014

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 2011: $2,539,691Liabilities 2011: $230,362Net Assets 2011: $2,309,3292011Assets 2012: $2,804,655Liabilities 2012: $477,770Net Assets 2012: $2,326,8852012Assets 2013: $2,840,411Liabilities 2013: $702,674Net Assets 2013: $2,137,7372013Assets 2014: $3,663,909Liabilities 2014: $1,684,328Net Assets 2014: $1,979,5812014Assets 2015: $4,054,953Liabilities 2015: $1,872,946Net Assets 2015: $2,182,0072015Assets 2016: $4,995,991Liabilities 2016: $1,534,983Net Assets 2016: $3,461,0082016Assets 2017: $5,162,386Liabilities 2017: $1,176,493Net Assets 2017: $3,985,8932017Assets 2018: $4,392,997Liabilities 2018: $1,450,109Net Assets 2018: $2,942,8882018Assets 2019: $3,879,014Liabilities 2019: $1,600,611Net Assets 2019: $2,278,4032019Assets 2020: $4,442,717Liabilities 2020: $2,340,491Net Assets 2020: $2,102,2262020

Highlighted filing

2015

Assets$4,054,953
Liabilities$1,872,946
Net Assets$2,182,007

Operations Trend

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

$10M$5.0M$0-$5.0MRevenue 2011: $2,920,109Expenses 2011: $2,912,935Net Income 2011: $7,1742011Revenue 2012: $3,060,151Expenses 2012: $3,049,261Net Income 2012: $10,8902012Expenses 2013: $3,842,2632013Revenue 2014: $4,423,534Expenses 2014: $4,669,292Net Income 2014: -$245,7582014Revenue 2015: $6,247,629Expenses 2015: $6,044,966Net Income 2015: $202,6632015Revenue 2016: $8,377,737Expenses 2016: $7,098,736Net Income 2016: $1,279,0012016Revenue 2017: $9,335,454Expenses 2017: $8,810,569Net Income 2017: $524,8852017Revenue 2018: $8,340,962Expenses 2018: $9,383,967Net Income 2018: -$1,043,0052018Revenue 2019: $7,408,038Expenses 2019: $8,072,523Net Income 2019: -$664,4852019Revenue 2020: $6,812,372Expenses 2020: $6,988,549Net Income 2020: -$176,1772020

Highlighted filing

2015

Revenue$6,247,629
Expenses$6,044,966
Net Income$202,663
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Jan 21, 2016
Return Version
2014v6.0
Gross Receipts
$7,504,282
Mission and Program Overview

Mission

To provide opportunities for people with disabilities to develop and maintain independence in all areas of life.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,892,596$2,459,059▲ $566,463
Accounts Receivable$846,903$980,279▲ $133,376
Investments in Publicly Traded Securities$628,608--
Savings and Temporary Cash Investments$170,607$506,443▲ $335,836
Inventories for Sale or Use$84,757$48,920▼ $35,837
Prepaid Expenses and Deferred Charges$12,730$31,845▲ $19,115
Intangible Assets$14,821$12,678▼ $2,143
Total Assets$3,663,909$4,054,953▲ $391,044
Other Assets Total$12,887$15,729▲ $2,842
Liabilities
Other Liabilities$944,151$1,051,967▲ $107,816
Mortgage Notes Payable Secured by Investment Property$596,060$696,711▲ $100,651
Accounts Payable and Accrued Expenses$144,117$124,268▼ $19,849
Total Liabilities$1,684,328$1,872,946▲ $188,618
Net Assets / Fund Balance
Unrestricted Net Assets$1,234,895$1,437,311▲ $202,416
Temporarily Rstr Net Assets$744,686$744,696▲ $10
Total Net Assets Fund Balance$1,979,581$2,182,007▲ $202,426
Total Liabilities and Net Assets / Fund Balance$3,663,909$4,054,953▲ $391,044

Asset Categories

AssetBook ValueDepreciationBasis
Land$167,050-$167,050
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Benjamin WrightExecutive DiFT$124,503$124,503

Board Members and Trustees

NameTitle
Leisa WalkerPresident
Bianca MyersDirector
Deb PumphreyDirector
Jim LindenmayerDirector
Lisa BishopDirector
Nate BissellDirector
Payson MorelandDirector
Ryan MoodeDirector
Josh HallPast Preside
Kathy HenrySecretary
Mick LawsonTreasurer
Teri MesserschmidtVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$2,320
Program Service Revenue
$5,743,229
Investment Income
$26,117
Other Revenue
$475,963
All Other Contributions
$2,320
Change in Net Assets
$202,663

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,247,629
Total Revenue per Audited Statements
$6,247,629
Total Revenue per Form 990
$6,247,629
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,797,988
Other Expenses$1,246,978
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,281,483$656,453-$3,937,936
Payroll Taxes$456,341$91,290-$547,631
Occupancy$318,472--$318,472
Other Employee Benefits$224,608$44,932-$269,540
All Other Expenses$262,555--$262,555
Depreciation Depletion$156,103--$156,103
Interest$87,728--$87,728
Other Expenses$69,975--$69,975
Pension Plan Contributions$35,733$7,148-$42,881
Travel$27,570--$27,570
Fees for Services Accounting$22,288--$22,288
Conferences and Meetings$7,293--$7,293
Total Functional Expenses$5,245,143$799,823$0$6,044,966

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$6,045,203
Expenses per Audited Statements$6,044,966
Total Expenses per Form 990$6,044,966
Expenses Not Reported on Form 990$237
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
Designated Income Liability$545,000
Accrued Payroll$137,603
Accrued Paid Time Off$115,533
St Sosb Loan$75,686
Tenco Foundation Loan$74,000
Accrued Payroll Taxes$68,245
Accrued Pension & P/r Taxes$34,900
Tenant Security Deposits$1,000
Edward Jones Note-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
No
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 11B

Full copy of form 990 is provided to each board member and reviewed by executive committee prior to filing.

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

The board shall determine whether a conflict exists and is material, and in the presence of an existing material conflict, whether the contemplated transaction may be authorized as just, fair and reasonable to tenco industries, inc. The decision of the board on these matters will rest in their sole discretion, and their concern must be the welfare of tenco industries, inc. And the advancement of its prupose.

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

Executive director compensation is reviewed and approved by board of directors.

Form 990, Page 6, Part VI, Line 19

Form 990 shall be made available, upon request, in a timely manner, and subject to the charges permitted by law to any individuals who request it.

Filing and Contact Details

Filer

Filer Name
Tenco Industries Inc
EIN
42-0919509
Phone
6416828114
Address
710 GATEWAY DRIVE, OTTUMWA, IA 52501

Signing Officer

Name
Benjamin Wright
Title
Exec Director
Phone
6416828114
Signed
2016-01-21
Discuss with paid preparer
Yes

Organization Details

Formed
1965
Legal Domicile
Ia
Voting Board Members
12
Independent Board Members
12
Employees
413
Volunteers
28

Preparer

Firm
Davis & Lewis Plc
Address
PO BOX 369, OTTUMWA, IA 52501-0369
Preparer
Keith W Lewis
Phone
6416828117
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Book / tax depreciation difference -237

Financial Statement Notes

Schedule D, Page 4, Part XII, Line 2D

Book / tax depreciation difference 237

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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt375686
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt474000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt568245
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt634900
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2ACCRUED PAID TIME OFF
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3ST SOSB LOAN
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4TENCO FOUNDATION LOAN
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc5ACCRUED PAYROLL TAXES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc6ACCRUED PENSION & P/R TAXES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc7TENANT SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc8EDWARD JONES NOTE
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0BOOK / TAX DEPRECIATION DIFFERENCE 237
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XII, LINE 2D
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FULL COPY OF FORM 990 IS PROVIDED TO EACH BOARD MEMBER AND REVIEWED BY EXECUTIVE COMMITTEE PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD SHALL DETERMINE WHETHER A CONFLICT EXISTS AND IS MATERIAL, AND IN THE PRESENCE OF AN EXISTING MATERIAL CONFLICT, WHETHER THE CONTEMPLATED TRANSACTION MAY BE AUTHORIZED AS JUST, FAIR AND REASONABLE TO TENCO INDUSTRIES, INC. THE DECISION OF THE BOARD ON THESE MATTERS WILL REST IN THEIR SOLE DISCRETION, AND THEIR CONCERN MUST BE THE WELFARE OF TENCO INDUSTRIES, INC. AND THE ADVANCEMENT OF ITS PRUPOSE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EXECUTIVE DIRECTOR COMPENSATION IS REVIEWED AND APPROVED BY BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FORM 990 SHALL BE MADE AVAILABLE, UPON REQUEST, IN A TIMELY MANNER, AND SUBJECT TO THE CHARGES PERMITTED BY LAW TO ANY INDIVIDUALS WHO REQUEST IT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4BOOK / TAX DEPRECIATION DIFFERENCE -237
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9
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IRS990/TerminateOperationsInd0false
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IRS990/TotalFunctionalExpensesGrp/TotalAmt06044966
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01684328

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