Civic Intelligence

Launchability Inc

990 • Fiscal year 2016 • EIN 75-1189353

Sep 01, 2015 to Aug 31, 2016 • Filed on Mar 22, 2017

801 East Plano ParkwayPlano, TX 75074

(972) 991-6777

Siviq Scores

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

Liabilities / Assets

58th percentile

0.16x

Higher debt load relative to assets than 58% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

26th percentile

0.02x

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

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

50th percentile

2.2%

Higher net margin than 50% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2016

Asset Growth

3rd percentile

-38%

Faster asset growth than 3% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

13th percentile

-25%

Faster revenue growth than 13% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Assets

Down

$130,592

Down $81,533 (-38%) from 2015

Net Assets

Up

$109,234

Up $20,862 (+24%) from 2015

Liabilities

Down

$21,358

Down $102,395 (-83%) from 2015

Revenue

Down

$939,829

Down $311,535 (-25%) from 2015

Expenses

Down

$918,967

Down $219,698 (-19%) from 2015

Net Income

Down

$20,862

Down $91,837 (-81%) from 2015

Historical Trend

Balance Sheet Trend

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

$2.0M$1.0M$0-$1.0MAssets 2010: $1,247,232Liabilities 2010: $213,745Net Assets 2010: $1,033,4872010Assets 2011: $1,357,871Liabilities 2011: $410,219Net Assets 2011: $947,6522011Assets 2012: $1,970,940Liabilities 2012: $434,136Net Assets 2012: $1,536,8042012Assets 2013: $1,667,304Liabilities 2013: $501,092Net Assets 2013: $1,166,2122013Assets 2014: $305,346Liabilities 2014: $329,673Net Assets 2014: -$24,3272014Assets 2015: $212,125Liabilities 2015: $123,753Net Assets 2015: $88,3722015Assets 2016: $130,592Liabilities 2016: $21,358Net Assets 2016: $109,2342016Assets 2017: $59,094Liabilities 2017: $128,421Net Assets 2017: -$69,3272017

Highlighted filing

2016

Assets$130,592
Liabilities$21,358
Net Assets$109,234

Operations Trend

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

$10M$5.0M$0-$5.0MExpenses 2010: $3,820,3592010Revenue 2011: $4,071,890Expenses 2011: $4,155,801Net Income 2011: -$83,9112011Expenses 2012: $9,121,4012012Revenue 2013: $7,786,023Expenses 2013: $8,195,343Net Income 2013: -$409,3202013Revenue 2014: $8,416,882Expenses 2014: $9,607,421Net Income 2014: -$1,190,5392014Revenue 2015: $1,251,364Expenses 2015: $1,138,665Net Income 2015: $112,6992015Revenue 2016: $939,829Expenses 2016: $918,967Net Income 2016: $20,8622016Revenue 2017: $768,589Expenses 2017: $947,150Net Income 2017: -$178,5612017

Highlighted filing

2016

Revenue$939,829
Expenses$918,967
Net Income$20,862
Jump To
Filing Snapshot
Filing Period
Sep 1, 2015 to Aug 31, 2016
Signed
Mar 22, 2017
Return Version
2015v3.0
Gross Receipts
$1,101,942
Mission and Program Overview

Mission

Launchability provides services to children and adults with developmental disabilities so they can lead fulfilling lives in their communities.

Empower adults with disabilities to achieve their maximum potential and lead fulfilling lives within our community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$138,517$84,962▼ $53,555
Pledges and Grants Receivable$41,500$0▼ $41,500
Accounts Receivable$12,762$31,378▲ $18,616
Land, Buildings, and Equipment, Net$13,048$8,303▼ $4,745
Savings and Temporary Cash Investments$911$911→ $0
Total Assets$212,125$130,592▼ $81,533
Other Assets Total$5,387$5,038▼ $349
Liabilities
Accounts Payable and Accrued Expenses$24,975$15,262▼ $9,713
Deferred Revenue$14,880$0▼ $14,880
Other Liabilities$1,421$3,680▲ $2,259
Unsecured Notes Loans Payable$82,477$2,416▼ $80,061
Total Liabilities$123,753$21,358▼ $102,395
Net Assets / Fund Balance
Temporarily Rstr Net Assets$137,841$56,643▼ $81,198
Unrestricted Net Assets$-49,469$52,591▲ $102,060
Total Net Assets Fund Balance$88,372$109,234▲ $20,862
Total Liabilities and Net Assets / Fund Balance$212,125$130,592▼ $81,533

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$8,303$44,738$53,041
Other Land Buildings$0$3,592$3,592

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$137,841$70,123-$151,321$56,643
2015$35,000$210,120-$107,279$137,841
2014$286,259$35,000-$286,259$35,000
2013$225,168$75,000-$3,210$286,259
2012-$225,168--$225,168
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kathryn ParsonsChief Executive OfficerFT$77,677$10,743$88,420

Board Members and Trustees

NameTitle
Brad LefflerImmed Past President/trust
william murraypresident-elect/TRUSTEE
Karen WaldPresident/trustee
Wl Pendergrass JrSecretary/trustee
Kyle LinerTreasurer/trustee
Beverly BlumenthalTrustee
Brad AlbertsTrustee
Brian DemmaTrustee
Brianna Hinojosa-floresTrustee
Chadwick CookTrustee
Christopher CollinsTrustee
Connor SheehanTrustee
Dennis MchaleTrustee
Eugene MillerTrustee
Gaye GrossiTrustee
Geoffrey MillerTrustee
George KellyTrustee
Jay FoxTrustee
Jefflyn WilliamsonTrustee
Kathy PermenterTrustee
Marc ScheinrockTrustee
Mel StockwellTrustee
PATRICK O'SHEATrustee
Patti KellyTrustee
Roy AtwoodTrustee
Sara AgritelleyTrustee
Steve McgawTrustee
Temple WeissTrustee
William Behrendt PhdTrustee
adam hickeyTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$946,919
Program Service Revenue
$27,155
Investment Income
$0
Other Revenue
$-34,245
All Other Contributions
$330,211
Change in Net Assets
$20,862

Audited Revenue Reconciliation

Revenue per Audited Statements
$939,829
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$939,829
Total Revenue per Form 990
$939,829
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$606,849
Other Expenses$312,118
Total Fundraising Expense$179,292
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$304,916$51,355$52,978$409,249
Occupancy$84,659$13,534$21,160$119,353
Comp Disqual Persons$65,228$10,961$11,310$87,499
Fees for Services Other$17,834$4,566$57,705$80,105
Other Employee Benefits$44,676$8,985$5,822$59,483
Payroll Taxes$34,815$5,732$5,929$46,476
Office Expenses$17,064$2,517$19,259$38,840
Information Technology$18,596$3,775$4,478$26,849
Travel$15,054$685$159$15,898
Fees for Services Accounting-$14,167-$14,167
Conferences and Meetings$10,850$301$170$11,321
Depreciation Depletion-$4,745-$4,745
Pension Plan Contributions$3,572$248$322$4,142
Interest-$840-$840
Total Functional Expenses$617,264$122,411$179,292$918,967

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$918,967
Total Expenses per Audited Statements$918,967
Total Expenses per Form 990$918,967
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$162,113
Fundraising Gross Income$110,339
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
evening dinner$290,414$110,339$5,859$104,480
Total Events$290,414$110,339$162,113$-51,774
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
deferred rent$3,680
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 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, Part VI, Section B, line 11

THE 990 IS REVIEWED BY THE EXECUTIVE DIRECTOR, THE Accountant, and one member of the Finance Committee FOR ACCURACY AND COMPLETENESS BEFORE APPROVING THE RETURN. THE RETURN IS DISCUSSED WITH THE FINANCE COMMITTEE AND MADE AVAILABLE TO THE BOARD AT THE NEXT MEETING. ALSO, THE RETURN IS AVAILABLE FOR REVIEW UPON REQUEST.

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

Employees and board members of launchability have an obligation to conduct business within guidelines that prohibit actual or potential conflicts of interest. This policy establishes the framework within which launchability wishes its business to operate. The purpose of these guidelines is to provide general direction so that employees and board members can seek further clarification on issues related to the subject of acceptable standards of operation. No "presumption of guilt" is created by the mere existance of a relationship with outside firms. However, it is imperative that employees and board members disclose any actual or potential conflicts of interest that could result from such relationships to an officer of the organization as soon as possible so that safeguards can be established to protect all parties.

Form 990, Part VI, Section B, line 15A

LAUNCHABILITY UTILIZES A formal APPRAISAL SYSTEM DESIGNED TO FOCUS ON MUTUAL GOAL SETTING BY THE SUPERVISOR AND THE EMPLOYEE to fit the needs of highly independent professionals. The annual performance review is followed up by regular and frequent check-ins with the supervisor and employee TO ADJUST AND ASSESS PROGRESS TOWARD GOAL ATTAINMENT. Disciplinary actions would be handled in accordance with established laws and best practices. The LaunchAbility board HR committee oversees goal-setting and COMPENSATION which is tied to agency performance. TRAINING is the responsibility of the supervisor. PERFORMANCE OBJECTIVES ARE ESTABLISHED IN ADVANCE OF ANY EVALUATION, such that THE EMPLOYEE AND THE EVALUATING SUPERVISOR SHOULD HAVE A CLEAR MUTUAL UNDERSTANDING OF WHAT THE EMPLOYEE IS EXPECTED TO DO ON THE JOB.

Form 990, Part VI, Section C, line 19

Public inspection of all governing documents, conflict of interest policy, and financial statements are available upon request during normal business hours.

Filing and Contact Details

Filer

Filer Name
LaunchAbility Inc
EIN
75-1189353
Phone
9729916777
Address
801 East Plano Parkway, Plano, TX 75074

Signing Officer

Name
Rick Van Hooser
Title
Executive Director
Phone
9729916777
Signed
2017-03-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rick Van Hooser
Formed
1963
Legal Domicile
TX
Voting Board Members
30
Independent Board Members
30
Employees
11
Volunteers
65

Preparer

Firm
Salmon Sims Thomas & Associates Pllc
Address
12720 HILLCREST ROAD SUITE 500, DALLAS, TX 75230-2039
Preparer
William H Sims
Phone
9723921143
Supplemental Narrative

Financial Statement Notes

Part V, Line 4:

Temporarily restricted net assets were held for the following purposes for current year end: at&t autism training $56,643

Part X, Line 2:

Management has concluded that any tax positions that would not meet the more-likely-than-not criterion of Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 740-10, Accounting for Income Taxes, would be immaterial to the financial statements taken as a whole. Accordingly, the accompanying financial statements do not include any provision for uncertain tax positions, and no related interest or penalties have been recorded in the statement of activities or accrued in the statement of financial position. Federal and state tax returns of the entity are generally open to examination by the relevant taxing authorities for a period of three years from the date the returns are filed.

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IRS990/Desc0OUR CAREER SERVICES FOR ADULTS WITH DISABILITIES INCLUDES OUR FLAGSHIP SUPPORTED EMPLOYMENT -WHICH WAS ONE OF THE FIRST PROGRAMS IN TEXAS OVER 30 YEARS AGO TO TRAIN ADULTS WITH COGNITIVE DISABILITIES FOR MEANINGFUL JOBS AND MATCH THEM WITH COMPANIES NEEDING THEIR SKILLS. WE HELP ADULTS WITH INTELLECTUAL DISABILITIES, BRAIN INJURY AND OTHER COGNITIVE DISABILITIES BUILD INDEPENDENCE THROUGH MEANINGFUL EMPLOYMENT. IN ADDITION TO OUR ONE-ON-ONE SUPPORTED EMPLOYMENT SERVICES, WE ALSO HAVE PROVIDED SINCE 2010 AN INNOVATIVE SERVICE CALLED THE ACADEMY IN COLLABORATION WITH LARGE EMPLOYERS. THIS PRE-JOB TRAINING TEACHES BOTH ON-THE-JOB SKILLS AND CRITICAL LIFE SKILLS IN ORDER FOR THEM TO GAIN ACCESS TO CAREERS THEY OTHERWISE WOULD NOT BE CANDIDATES FOR IN COMPLEX, BUT GROWING INDUSTRIES. REGARDLESS OF WHETHER OUR CLIENTS UTILIZE SUPPORTED EMPLOYMENT OR ATTEND THE ACADEMY, WE PROVIDE ASSESSMENT OF CLIENT SKILLS AND INTERESTS, CAREER PLANNING, JOB PLACEMENT, AS WELL AS ONSITE TRAINING AND ONGOING ASSISTANCE AFTER THE PERSON IS ON THE JOB. LAUCHABILITY TRANSFORMS THE LIVES OF THESE ADULTS, HELPING TAX CONSUMERS BECOME TAXPAYERS AND INCLUDED MEMBERS OF OUR COMMUNITY. IN FY2015, THE PROGRAM SERVED OVER 180 ADULTS WITH COGNITIVE DISABILITIES. OUR SERVICE AREA INCLUDES DALLAS, COLLIN, AND DENTON COUNTIES.
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