Civic Intelligence

Softec Education Inc.

990 • Fiscal year 2023 • EIN 82-2164004

Jan 01, 2023 to Dec 31, 2023 • Filed on Jun 27, 2024

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

0.74x

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

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

95th percentile

0.96x

Higher debt load relative to revenue than 95% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

51st percentile

3.9%

Higher net margin than 51% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

78th percentile

$0

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

34th percentile

-8.3%

Faster asset growth than 34% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

79th percentile

46%

Faster revenue growth than 79% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets92nd percentile

Assets

Down

$141,117

Down $12,844 (-8.3%) from 2022

Net Assets

Up

$36,557

Up $4,209 (+13%) from 2022

Liabilities

Down

$104,560

Down $17,053 (-14%) from 2022

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin51st percentile

Revenue

Up

$108,982

Up $34,585 (+46%) from 2022

Expenses

Up

$104,773

Up $18,587 (+22%) from 2022

Net Income

Up

$4,209

Up $15,998 (+136%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth34th 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

2023

Assets$141,117
Liabilities$104,560
Net Assets$36,557
Open 2023 Filing

Operations Trend

Revenue Growth79th 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

2023

Revenue$108,982
Expenses$104,773
Net Income$4,209
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Jun 27, 2024
Return Version
2023v5.0
Gross Receipts
$108,982
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$131,209$127,079▼ $4,130
Cash and Non-Interest-Bearing Accounts$22,752$14,038▼ $8,714
Total Assets$153,961$141,117▼ $12,844
Liabilities
Unsecured Notes Loans Payable$102,590$92,818▼ $9,772
Other Liabilities$19,023$11,742▼ $7,281
Total Liabilities$121,613$104,560▼ $17,053
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$32,348$36,557▲ $4,209
Total Net Assets Fund Balance$32,348$36,557▲ $4,209
Total Liabilities and Net Assets / Fund Balance$153,961$141,117▼ $12,844

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$88,421$15,945$104,366
Land$34,789-$34,789
Equipment$3,869$4,356$8,225
Compensation and Service Providers
Top Officer Pay78th percentile

Board Members and Trustees

NameTitle
Bruce AllenPresident/se
BILL O'NIELLDirector
Gary GerdsDirector
Joni AndersonDirector
Thelma JohnsonDirector
Gloria MeyerExecutive Di
Jerry TischerVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$108,982
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$61,882
Change in Net Assets
$4,209
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$104,773
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$84,851$2,082-$86,933
Fees for Services Accounting$3,320$3,321-$6,641
Depreciation Depletion$4,130--$4,130
Office Expenses$1,667$1,667-$3,334
Occupancy$1,180$1,180-$2,360
Interest$543$544-$1,087
Advertising$288--$288
Total Functional Expenses$95,979$8,794$0$104,773
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
Sba Loan$11,742
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
2024-06-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bruce Allen
Formed
2018
Legal Domicile
Wi
Voting Board Members
6
Independent Board Members
6
Employees
0

Preparer

Firm
Adler Cpas & Advisors
Address
1706 YORK ST STE 8, BLOOMER, WI 54724
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 82,847 0 0 bank service charges 0 78 0 insurance 2,004 2,004 0 total 84,851 2,082 0”

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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0SOFTEC 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.
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 82,847 0 0 BANK SERVICE CHARGES 0 78 0 INSURANCE 2,004 2,004 0 TOTAL 84,851 2,082 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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ReturnHeader/BusinessOfficerGrp/SignatureDt02024-06-27
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SOFTEC EDUCATION INC
ReturnHeader/Filer/BusinessNameControlTxt0SOFT
ReturnHeader/Filer/EIN0822164004
ReturnHeader/Filer/PhoneNum07153497545
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 451
ReturnHeader/Filer/USAddress/CityNm0SIREN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0WI
ReturnHeader/Filer/USAddress/ZIPCd054872
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0461661225
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ADLER CPAS & ADVISORS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01706 YORK ST STE 8
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BLOOMER
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0WI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd054724
ReturnHeader/PreparerPersonGrp/PhoneNum07155685189
ReturnHeader/PreparerPersonGrp/PreparationDt02024-07-01
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DAVID ADLER
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02024-07-01T10:55:10-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0BRUCE
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0ALLEN
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$141,117
Liabilities
$104,560
Net assets
$36,557
Revenue
$108,982
Expenses
$104,773
Net income
$4,209
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
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2023 filings • 501(c)3 • <$500k nonprofits