Civic Intelligence

K-Connect

990 • Fiscal year 2022 • EIN 46-4605245

Oct 01, 2021 to Sep 30, 2022 • Filed on Jan 27, 2023

Organization ProfileWWW.K-CONNECT.ORG
401 Hall St SW 385Grand Rapids, MI 49503

(616) 242-9700

Siviq Scores

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

Liabilities / Assets

76th percentile

0.31x

Higher debt load relative to assets than 76% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

88th percentile

1.06x

Higher debt load relative to revenue than 88% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

9th percentile

-38%

Higher net margin than 9% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

81st percentile

$136,509

Higher top officer pay than 81% of similar nonprofits.

Top officer pay equals 25.3% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

77th percentile

21%

Faster asset growth than 77% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

7th percentile

-52%

Faster revenue growth than 7% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets76th percentile

Assets

Up

$1,867,663

Up $327,683 (+21%) from 2021

Net Assets

Down

$1,297,692

Down $207,191 (-14%) from 2021

Liabilities

Up

$569,971

Up $534,874 (+1524%) from 2021

Revenue And Expenses
Liabilities / Revenue88th percentileNet Margin9th percentile

Revenue

Down

$539,869

Down $583,121 (-52%) from 2021

Expenses

Up

$747,060

Up $209,493 (+39%) from 2021

Net Income

Down

-$207,191

Down $792,614 (-135%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth77th percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2014: $1,439,019Liabilities 2014: $13,277Net Assets 2014: $1,425,7422014Assets 2015: $1,014,432Liabilities 2015: $36,871Net Assets 2015: $977,5612015Assets 2016: $956,989Liabilities 2016: $7,361Net Assets 2016: $949,6282016Assets 2017: $1,426,370Liabilities 2017: $36,129Net Assets 2017: $1,390,2412017Assets 2018: $1,000,215Liabilities 2018: $24,934Net Assets 2018: $975,2812018Assets 2019: $674,782Liabilities 2019: $52,586Net Assets 2019: $622,1962019Assets 2020: $939,849Liabilities 2020: $20,389Net Assets 2020: $919,4602020Assets 2021: $1,539,980Liabilities 2021: $35,097Net Assets 2021: $1,504,8832021Assets 2022: $1,867,663Liabilities 2022: $569,971Net Assets 2022: $1,297,6922022Assets 2023: $1,121,329Liabilities 2023: $141,888Net Assets 2023: $979,4412023Assets 2024: $1,557,681Liabilities 2024: $108,795Net Assets 2024: $1,448,8862024

Highlighted filing

2022

Assets$1,867,663
Liabilities$569,971
Net Assets$1,297,692
Open 2022 Filing

Operations Trend

Revenue Growth7th percentile

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

$2.0M$1.0M$0-$1.0MRevenue 2014: $1,700,000Expenses 2014: $275,758Net Income 2014: $1,424,2422014Revenue 2015: $115,467Expenses 2015: $563,648Net Income 2015: -$448,1812015Revenue 2016: $645,000Expenses 2016: $730,427Net Income 2016: -$85,4272016Revenue 2017: $1,232,072Expenses 2017: $791,459Net Income 2017: $440,6132017Revenue 2018: $429,767Expenses 2018: $844,727Net Income 2018: -$414,9602018Revenue 2019: $865,296Expenses 2019: $1,218,381Net Income 2019: -$353,0852019Revenue 2020: $1,186,270Expenses 2020: $889,006Net Income 2020: $297,2642020Revenue 2021: $1,122,990Expenses 2021: $537,567Net Income 2021: $585,4232021Revenue 2022: $539,869Expenses 2022: $747,060Net Income 2022: -$207,1912022Revenue 2023: $761,725Expenses 2023: $1,079,976Net Income 2023: -$318,2512023Revenue 2024: $1,585,938Expenses 2024: $1,116,493Net Income 2024: $469,4452024

Highlighted filing

2022

Revenue$539,869
Expenses$747,060
Net Income-$207,191
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2021 to Sep 30, 2022
Signed
Jan 27, 2023
Return Version
2021v4.2
Gross Receipts
$539,869
Mission and Program Overview

Mission

To ensure that all children and their families in kent county, mi achieve self-sufficiency and economic security through high-quality education and community support. Fundamental to this purpose is a commitment to closing the achievement gaps for low-income students and children of color, and to increasing the achievement for all students from early childhood to post-secondary and career.

Aimed at increasing student achievement throughout kent county.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$975,000$1,151,875▲ $176,875
Cash and Non-Interest-Bearing Accounts$522,095$692,509▲ $170,414
Land, Buildings, and Equipment, Net$11,014$10,131▼ $883
Accounts Receivable$20,000$10,000▼ $10,000
Prepaid Expenses and Deferred Charges$11,871$3,148▼ $8,723
Total Assets$1,539,980$1,867,663▲ $327,683
Liabilities
Other Liabilities$0$535,000▲ $535,000
Accounts Payable and Accrued Expenses$35,097$34,971▼ $126
Total Liabilities$35,097$569,971▲ $534,874
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$529,883$680,817▲ $150,934
Net Assets With Donor Restrictions$975,000$616,875▼ $358,125
Total Net Assets Fund Balance$1,504,883$1,297,692▼ $207,191
Total Liabilities and Net Assets / Fund Balance$1,539,980$1,867,663▲ $327,683

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$6,969$17,151$24,120
Other Land Buildings$3,162$5,560$8,722
Compensation and Service Providers
Top Officer Pay81st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Salvador LopezPresident/exec DirectorFT$120,969$15,540$136,509

Board Members and Trustees

NameTitle
Andrew BrowerCo-chair
Dr Brandy Lovelady MitchellCo-chair
Diana SiegerTrustee
Dr Juan OlivarezTrustee
Jamon AlexanderTrustee
Julie RidenourTrustee
Kevin PolstonTrustee
Lynne FerrellTrustee
Michelle Van DykeTrustee
Shana M LewisTrustee
Stacy StoutTrustee
Krista FlynnTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$472,925
Program Service Revenue
$66,000
Investment Income
$0
Other Revenue
$944
All Other Contributions
$451,925
Change in Net Assets
$-207,191

Audited Revenue Reconciliation

Revenue per Audited Statements
$539,869
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$539,869
Total Revenue per Form 990
$539,869
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$474,301
Other Expenses$272,759
Total Fundraising Expense$34,257
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$205,451$47,227$19,671$272,349
Current Officers, Directors, Trustees, and Key Employees$104,963$24,128$10,050$139,141
Fees for Services Other$136,828$640-$137,468
Payroll Taxes$24,893$5,722$2,383$32,998
Other Employee Benefits$22,491$5,169$2,153$29,813
Occupancy$27,315--$27,315
Office Expenses$19,456$5,837-$25,293
Information Technology$13,689$2,523-$16,212
Conferences and Meetings$14,337$438-$14,775
Fees for Services Accounting-$10,766-$10,766
Travel$10,167$310-$10,477
Depreciation Depletion-$4,366-$4,366
Insurance$1,826$2,488-$4,314
Other Expenses$1,936$1,974-$1,936
Total Functional Expenses$599,432$113,371$34,257$747,060

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$747,060
Total Expenses per Audited Statements$747,060
Total Expenses per Form 990$747,060
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Due to Hsa$535,000
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
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

Form 990, Part VI, Section B, Line 11B

“The form 990 is reviewed by the finance committee, who then reports to the board of trustees. After any issues are addressed or corrected, the executive director signs and files the return.”

Form 990, Part VI, Section B, Line 12C

“At any meeting of the board of trustees, any trustee who has a financial interest in the action being discussed or taken by the board of trustees (including without limitation matters of compensation) shall be excused from that portion of the meeting, shall not participate in the discussion of that matter, and shall not be entitled to vote on the proposed action. In situations where a trustee is so excused, the excused trustee shall be counted for purposes of determining whether a quorum is present, but shall not be counted for purposes of determining the majority necessary to approve the action. Any employee of k-connect who has, actually or potentially, a direct or indirect financial interest in a transaction or business arrangement involving k-connect shall promptly make full disclosure of his/her interest to the executive director. As part of this policy, each trustee and the executive director will annually submit a potential conflict of interest annual statement to the board.”

Form 990, Part VI, Section B, Line 15

“The executive committee handles human resource matters along with a professional external hr consultant. Several factors are considered when determining compensation, such as: role, skill and experience desired, education level or comparable work experience, equity, comparative salary analysis, and budgetary constraints.”

Form 990, Part VI, Section C, Line 19

“All documents are made available for public inspection upon request.”

Filing and Contact Details

Filer

Filer Name
K-connect
EIN
46-4605245
Phone
6162429700
Address
401 HALL ST SW 385, GRAND RAPIDS, MI 49503

Signing Officer

Name
Salvador Lopez
Title
Executive Director
Phone
6162429700
Signed
2023-01-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Salvador Lopez
Formed
2013
Legal Domicile
Mi
Voting Board Members
13
Independent Board Members
12
Employees
5
Volunteers
183

Preparer

Firm
Maner Costerisan Pc
Address
2425 E GRAND RIVER SUITE 1, LANSING, MI 48912-3291
Preparer
Brandy L Mikula CPA
Phone
5173237500
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Consultants: program service expenses 136,828. Management and general expenses 640. Fundraising expenses 0. Total expenses 137,468.”

Financial Statement Notes

PART X, LINE 2:

“In the preparation of tax returns, tax positions are taken based on interpretation of federal, state and local income tax laws. Management periodically reviews and evaluates the status of uncertain tax positions and makes estimates of amounts, including interest and penalties, ultimately due or owed. No amounts have been identified, or recorded, as uncertain tax positions. Federal, state and local tax returns generally remain open for examination by the various taxing authorities for a period of three to four years.”

Raw XML AppendixShowing 400 of 469 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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IRS990/LegalDomicileStateCd0MI
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IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0KCONNECT ENSURES THAT ALL CHILDREN IN KENT COUNTY HAVE A CLEAR PATH TO ECONOMIC PROSPERITY THROUGH FAMILY, QUALITY EDUCATION, AND COMMUNITY SUPPORTS.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
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IRS990/NondeductibleContributionsInd00
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IRS990/OccupancyGrp/TotalAmt027315
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt05837
IRS990/OfficeExpensesGrp/ProgramServicesAmt019456
IRS990/OfficeExpensesGrp/TotalAmt025293
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt02153
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt05169
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt022491
IRS990/OtherEmployeeBenefitsGrp/TotalAmt029813
IRS990/OtherExpensesGrp/Desc0HOUSING FACILITATION
IRS990/OtherExpensesGrp/Desc1DUES AND SUBSCRIPTIONS
IRS990/OtherExpensesGrp/Desc2OTHER MISCELLANEOUS EXP
IRS990/OtherExpensesGrp/Desc3PRINTING
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt01783
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt11974
IRS990/OtherExpensesGrp/ProgramServicesAmt011102
IRS990/OtherExpensesGrp/ProgramServicesAmt14978
IRS990/OtherExpensesGrp/ProgramServicesAmt21936
IRS990/OtherExpensesGrp/TotalAmt011102
IRS990/OtherExpensesGrp/TotalAmt16761
IRS990/OtherExpensesGrp/TotalAmt21974
IRS990/OtherExpensesGrp/TotalAmt31936
IRS990/OtherLiabilitiesGrp/BOYAmt00
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IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0OTHER INCOME
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IRS990/OtherRevenueTotalAmt0944
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt019671
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt047227
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0205451
IRS990/OtherSalariesAndWagesGrp/TotalAmt0272349
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/FundraisingAmt02383
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt05722
IRS990/PayrollTaxesGrp/ProgramServicesAmt024893
IRS990/PayrollTaxesGrp/TotalAmt032998
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0975000
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt01151875
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt011871
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt03148
IRS990/PrincipalOfficerNm0SALVADOR LOPEZ
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/Desc0ADMIN FEE
IRS990/ProgramServiceRevenueGrp/Desc1CONSULTING REVENUE
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt110000
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt056000
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt110000
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
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IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
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IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0585423
IRS990/PYSalariesCompEmpBnftPaidAmt0315645
IRS990/PYTotalExpensesAmt0537567
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01122990
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-207191
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt066944
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0472925
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt01122990
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt01186270
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0865296
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0429767
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt04077248
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt066000
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt0944
IRS990ScheduleA/OtherIncome170Grp/TotalAmt0944
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.54400
IRS990ScheduleA/PublicSupportPY170Pct00.46910
IRS990ScheduleA/PublicSupportTotal170Amt02218632
IRS990ScheduleA/SubstantialContributorsTotAmt01858616
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0472925
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt01122990
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt01186270
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0865296
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0429767
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt04077248
IRS990ScheduleA/TotalSupportAmt04078192
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt06969
IRS990ScheduleD/EquipmentGrp/DepreciationAmt017151
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt024120
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0747060
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt03162
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt05560
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt08722
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0535000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO HSA
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0539869
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0IN THE PREPARATION OF TAX RETURNS, TAX POSITIONS ARE TAKEN BASED ON INTERPRETATION OF FEDERAL, STATE AND LOCAL INCOME TAX LAWS. MANAGEMENT PERIODICALLY REVIEWS AND EVALUATES THE STATUS OF UNCERTAIN TAX POSITIONS AND MAKES ESTIMATES OF AMOUNTS, INCLUDING INTEREST AND PENALTIES, ULTIMATELY DUE OR OWED. NO AMOUNTS HAVE BEEN IDENTIFIED, OR RECORDED, AS UNCERTAIN TAX POSITIONS. FEDERAL, STATE AND LOCAL TAX RETURNS GENERALLY REMAIN OPEN FOR EXAMINATION BY THE VARIOUS TAXING AUTHORITIES FOR A PERIOD OF THREE TO FOUR YEARS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt010131
IRS990ScheduleD/TotalExpensesPerForm990Amt0747060
IRS990ScheduleD/TotalLiabilityAmt0535000
IRS990ScheduleD/TotalRevenuePerForm990Amt0539869
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0539869
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0747060
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 IS REVIEWED BY THE FINANCE COMMITTEE, WHO THEN REPORTS TO THE BOARD OF TRUSTEES. AFTER ANY ISSUES ARE ADDRESSED OR CORRECTED, THE EXECUTIVE DIRECTOR SIGNS AND FILES THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AT ANY MEETING OF THE BOARD OF TRUSTEES, ANY TRUSTEE WHO HAS A FINANCIAL INTEREST IN THE ACTION BEING DISCUSSED OR TAKEN BY THE BOARD OF TRUSTEES (INCLUDING WITHOUT LIMITATION MATTERS OF COMPENSATION) SHALL BE EXCUSED FROM THAT PORTION OF THE MEETING, SHALL NOT PARTICIPATE IN THE DISCUSSION OF THAT MATTER, AND SHALL NOT BE ENTITLED TO VOTE ON THE PROPOSED ACTION. IN SITUATIONS WHERE A TRUSTEE IS SO EXCUSED, THE EXCUSED TRUSTEE SHALL BE COUNTED FOR PURPOSES OF DETERMINING WHETHER A QUORUM IS PRESENT, BUT SHALL NOT BE COUNTED FOR PURPOSES OF DETERMINING THE MAJORITY NECESSARY TO APPROVE THE ACTION. ANY EMPLOYEE OF K-CONNECT WHO HAS, ACTUALLY OR POTENTIALLY, A DIRECT OR INDIRECT FINANCIAL INTEREST IN A TRANSACTION OR BUSINESS ARRANGEMENT INVOLVING K-CONNECT SHALL PROMPTLY MAKE FULL DISCLOSURE OF HIS/HER INTEREST TO THE EXECUTIVE DIRECTOR. AS PART OF THIS POLICY, EACH TRUSTEE AND THE EXECUTIVE DIRECTOR WILL ANNUALLY SUBMIT A POTENTIAL CONFLICT OF INTEREST ANNUAL STATEMENT TO THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE EXECUTIVE COMMITTEE HANDLES HUMAN RESOURCE MATTERS ALONG WITH A PROFESSIONAL EXTERNAL HR CONSULTANT. SEVERAL FACTORS ARE CONSIDERED WHEN DETERMINING COMPENSATION, SUCH AS: ROLE, SKILL AND EXPERIENCE DESIRED, EDUCATION LEVEL OR COMPARABLE WORK EXPERIENCE, EQUITY, COMPARATIVE SALARY ANALYSIS, AND BUDGETARY CONSTRAINTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL DOCUMENTS ARE MADE AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CONSULTANTS: PROGRAM SERVICE EXPENSES 136,828. MANAGEMENT AND GENERAL EXPENSES 640. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 137,468.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MI
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01539980
IRS990/TotalAssetsEOYAmt01867663
IRS990/TotalAssetsGrp/BOYAmt01539980
IRS990/TotalAssetsGrp/EOYAmt01867663
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0472925
IRS990/TotalEmployeeCnt05
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt034257
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0113371
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0599432

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,867,663
Liabilities
$569,971
Net assets
$1,297,692
Revenue
$539,869
Expenses
$747,060
Net income
-$207,191
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.56$0.11$1.45$1.59$1.12$0.47
2023Detailed filing. Detailed filing data is available for this year.$1.12$0.14$0.98$0.76$1.08$0.32
2022Detailed filing. Detailed filing data is available for this year.$1.87$0.57$1.30$0.54$0.75$0.21
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.54$0.04$1.50$1.12$0.54$0.59
2020Detailed filing. Detailed filing data is available for this year.$0.94$0.02$0.92$1.19$0.89$0.30
2019Detailed filing. Detailed filing data is available for this year.$0.67$0.05$0.62$0.87$1.22$0.35
2018Detailed filing. Detailed filing data is available for this year.$1.00$0.02$0.98$0.43$0.84$0.41
2017Detailed filing. Detailed filing data is available for this year.$1.43$0.04$1.39$1.23$0.79$0.44
2016Detailed filing. Detailed filing data is available for this year.$0.96$0.01$0.95$0.65$0.73$0.09
2015Detailed filing. Detailed filing data is available for this year.$1.01$0.04$0.98$0.12$0.56$0.45
2014Detailed filing. Detailed filing data is available for this year.$1.44$0.01$1.43$1.70$0.28$1.42