Civic Intelligence

Softec Education Inc.

990 • Fiscal year 2021 • EIN 82-2164004

Jan 01, 2021 to Dec 31, 2021 • Filed on Jun 02, 2022

Organization ProfileWWW.SOFTECEDUCATION.ORG
PO Box 451Siren, WI 54872

(715) 349-7545

Siviq Scores

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

Liabilities / Assets

92nd percentile

0.78x

Higher debt load relative to assets than 92% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

92nd percentile

0.69x

Higher debt load relative to revenue than 92% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Net Margin

27th percentile

-6.6%

Higher net margin than 27% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2021

Asset Growth

53rd percentile

7.5%

Faster asset growth than 53% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

84th percentile

87%

Faster revenue growth than 84% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets92nd percentile

Assets

Up

$202,414

Up $14,154 (+7.5%) from 2020

Net Assets

Down

$44,137

Down $15,164 (-26%) from 2020

Liabilities

Up

$158,277

Up $29,318 (+23%) from 2020

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin27th percentile

Revenue

Up

$229,953

Up $107,074 (+87%) from 2020

Expenses

Up

$245,118

Up $160,178 (+189%) from 2020

Net Income

Down

-$15,165

Down $53,104 (-140%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth53rd percentile

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

$300K$200K$100K$0Assets 2018: $139,461Liabilities 2018: $117,628Net Assets 2018: $21,8332018Assets 2019: $137,455Liabilities 2019: $116,092Net Assets 2019: $21,3632019Assets 2020: $188,260Liabilities 2020: $128,959Net Assets 2020: $59,3012020Assets 2021: $202,414Liabilities 2021: $158,277Net Assets 2021: $44,1372021Assets 2022: $153,961Liabilities 2022: $121,613Net Assets 2022: $32,3482022Assets 2023: $141,117Liabilities 2023: $104,560Net Assets 2023: $36,5572023Assets 2024: $128,068Liabilities 2024: $94,191Net Assets 2024: $33,8772024

Highlighted filing

2021

Assets$202,414
Liabilities$158,277
Net Assets$44,137
Open 2021 Filing

Operations Trend

Revenue Growth84th percentile

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

$300K$200K$100K$0-$100KRevenue 2018: $62,029Expenses 2018: $40,196Net Income 2018: $21,8332018Revenue 2019: $168,657Expenses 2019: $169,127Net Income 2019: -$4702019Revenue 2020: $122,879Expenses 2020: $84,940Net Income 2020: $37,9392020Revenue 2021: $229,953Expenses 2021: $245,118Net Income 2021: -$15,1652021Revenue 2022: $74,397Expenses 2022: $86,186Net Income 2022: -$11,7892022Revenue 2023: $108,982Expenses 2023: $104,773Net Income 2023: $4,2092023Revenue 2024: $48,585Expenses 2024: $51,265Net Income 2024: -$2,6802024

Highlighted filing

2021

Revenue$229,953
Expenses$245,118
Net Income-$15,165
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Jun 2, 2022
Return Version
2021v4.0
Gross Receipts
$229,953
Mission and Program Overview

Mission

Softec education, inc's mission is to provide a coordinated and collaborative educational training center pregram in the economically depressed northern counties, specifically burnett and the surrounding counties, of the state of wisconsin, to primarily unemployed and underemployed individuals.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$131,856$135,530▲ $3,674
Cash and Non-Interest-Bearing Accounts$56,404$66,884▲ $10,480
Total Assets$188,260$202,414▲ $14,154
Liabilities
Unsecured Notes Loans Payable$110,772$107,652▼ $3,120
Other Liabilities$16,000$50,625▲ $34,625
Accounts Payable and Accrued Expenses$2,186--
Total Liabilities$128,958$158,277▲ $29,319
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$59,302$44,137▼ $15,165
Total Net Assets Fund Balance$59,302$44,137▼ $15,165
Total Liabilities and Net Assets / Fund Balance$188,260$202,414▲ $14,154

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$93,773$10,593$104,366
Land$34,789-$34,789
Equipment$6,968$1,257$8,225
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Bruce AllenPresident/se
Gary GerdsDirector
Jim HuismanDirector
Maureen WilsonDirector
Susan ArmstrongDirector
Tim TessmanDirector
Jerry TischerVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$229,953
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$28,152
Change in Net Assets
$-15,165
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$236,398
Grants and Similar Amounts Paid$8,500
Professional Fundraising Fees$220
Total Fundraising Expense$220
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$170,295--$170,295
Fees for Services Management$38,348--$38,348
Grants to Domestic Individuals$8,500--$8,500
Interest$3,239$3,239-$6,478
Insurance$2,909$2,910-$5,819
Fees for Services Accounting$2,777$2,778-$5,555
Occupancy$1,784$1,786-$3,570
Depreciation Depletion$3,202--$3,202
Office Expenses$1,490$1,490-$2,980
Fees for Services Professional Fundraising--$220$220
Advertising$60$61-$121
Fees for Services Legal-$30-$30
Total Functional Expenses$232,604$12,294$220$245,118
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$220
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Sba Loan$35,625
Eidl Loan$15,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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

Governance Explanations

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

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“A copy of the 990 is kept at the office of the taxpayer. A copy of the taxpayer's form 990 can be accessed via guidestar.org.”

Filing and Contact Details

Filer

Filer Name
Softec Education Inc
EIN
82-2164004
Phone
7153497545
Address
PO BOX 451, SIREN, WI 54872

Signing Officer

Name
Bruce Allen
Title
President/secretary
Phone
7156889629
Signed
2022-06-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bruce Allen
Formed
2018
Legal Domicile
Wi
Voting Board Members
7
Independent Board Members
7
Employees
0

Preparer

Firm
Adler Cpas & Advisors
Address
1706 YORK ST STE 8, BLOOMER, WI 54724-1921
Preparer
David Adler
Phone
7155685189
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Softec education, inc's mission is to provide a coordinated and collaborative educational training center pregram in the economically depressed northern counties, specifically burnett and the surrounding counties, of the state of wisconsin, to primarily unemployed and underemployed individuals.”

Form 990, Part IX, Line 11G

“Training 96,690 0 0 equipment lease 34,450 0 0 supplies 34,340 0 0 drug testing 140 0 0 grant writing 4,675 0 0 total 170,295 0 0”

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A COPY OF THE 990 IS KEPT AT THE OFFICE OF THE TAXPAYER. A COPY OF THE TAXPAYER'S FORM 990 CAN BE ACCESSED VIA GUIDESTAR.ORG.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3TRAINING 96,690 0 0 EQUIPMENT LEASE 34,450 0 0 SUPPLIES 34,340 0 0 DRUG TESTING 140 0 0 GRANT WRITING 4,675 0 0 TOTAL 170,295 0 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WWW.SOFTECEDUCATION.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0BRUCE ALLEN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT/SECRETARY
ReturnHeader/BusinessOfficerGrp/PhoneNum07156889629
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-06-02
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SOFTEC EDUCATION INC
ReturnHeader/Filer/BusinessNameControlTxt0SOFT
ReturnHeader/Filer/EIN0822164004
ReturnHeader/Filer/PhoneNum07153497545
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01706 YORK ST STE 8
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BLOOMER
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0WI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0547241921
ReturnHeader/PreparerPersonGrp/PhoneNum07155685189
ReturnHeader/PreparerPersonGrp/PreparationDt02022-08-30
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DAVID ADLER
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02022-08-30T17:05:28-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0BRUCE
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ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$202,414
Liabilities
$158,277
Net assets
$44,137
Revenue
$229,953
Expenses
$245,118
Net income
-$15,165
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.28$0.94$0.34$0.49$0.51$0.03
2023Detailed filing. Detailed filing data is available for this year.$1.41$1.05$0.37$1.09$1.05$0.04
2022Detailed filing. Detailed filing data is available for this year.$1.54$1.22$0.32$0.74$0.86$0.12
2021Detailed filing. Detailed filing data is available for this year.$2.02$1.58$0.44$2.30$2.45$0.15
2020Detailed filing. Detailed filing data is available for this year.$1.88$1.29$0.59$1.23$0.85$0.38
2019Detailed filing. Detailed filing data is available for this year.$1.37$1.16$0.21$1.69$1.69$0.00
2018Detailed filing. Detailed filing data is available for this year.$1.39$1.18$0.22$0.62$0.40$0.22