Liabilities / Assets
17th percentile
Tied with the lowest-debt nonprofits in its peer group.
Exceptional Opportunities Foundation Inc.
990 • Fiscal year 2022 • EIN 83-0993675
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.00x
Liabilities / Revenue
17th percentile
Tied with the lowest-debt nonprofits in its peer group.
Net Margin
98th percentile
Higher net margin than 98% of similar nonprofits.
Top Officer Pay
67th percentile
Higher top officer pay than 67% of similar nonprofits.
Top officer pay equals 9.4% of source-year revenue.
Asset Growth
45th percentile
Faster asset growth than 45% of similar nonprofits.
Revenue Growth
99th percentile
Faster revenue growth than 99% of similar nonprofits.
Balance Sheet
Assets
Down$4,707,138
Down $8,883 (-0.2%) from 2021
Net Assets
Down$4,707,138
Down $8,883 (-0.2%) from 2021
Liabilities
Flat$0
Flat from 2021
Revenue And Expenses
Revenue
Up$1,031,124
Up $905,558 (+721%) from 2021
Expenses
Up$30,856
Up $13,105 (+74%) from 2021
Net Income
Up$1,000,268
Up $892,453 (+828%) from 2021
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jul 1, 2021 to Jun 30, 2022
- Signed
- Aug 18, 2022
- Return Version
- 2021v4.0
- Gross Receipts
- $1,884,296
Mission and Program Overview
Mission
The primary purpose of the not for profit is to support and benefit Exceptional Opportunities, Inc. and all the income of the foundation shall be distributed to or for the benefit of Exceptional Opportunities, Inc.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Investments in Publicly Traded Securities | $4,487,621 | $4,386,681 | ▼ $100,940 |
| Savings and Temporary Cash Investments | $228,400 | $320,457 | ▲ $92,057 |
| Cash and Non-Interest-Bearing Accounts | - | $0 | - |
| Accounts Receivable | - | $0 | - |
| Other Notes and Loans Receivable, Net | - | $0 | - |
| Pledges and Grants Receivable | - | $0 | - |
| Receivable From Disqualified Prsn | - | $0 | - |
| Receivables From Officers Etc | - | $0 | - |
| Investments Other Securities | - | $0 | - |
| Investments Program Related | - | $0 | - |
| Land, Buildings, and Equipment, Net | - | $0 | - |
| Intangible Assets | - | $0 | - |
| Inventories for Sale or Use | - | $0 | - |
| Prepaid Expenses and Deferred Charges | - | $0 | - |
| Total Assets | $4,716,021 | $4,707,138 | ▼ $8,883 |
| Other Assets Total | - | $0 | - |
| Liabilities | |||
| Total Liabilities | $0 | $0 | → $0 |
| Net Assets / Fund Balance | |||
| Net Assets Without Donor Restrictions | $4,716,021 | $4,707,138 | ▼ $8,883 |
| Total Net Assets Fund Balance | $4,716,021 | $4,707,138 | ▼ $8,883 |
| Total Liabilities and Net Assets / Fund Balance | $4,716,021 | $4,707,138 | ▼ $8,883 |
Compensation and Service Providers
Employees
| Name | Title | Other | Total |
|---|---|---|---|
| Erin Schmidt | Executive Director | $97,126 | $97,126 |
Board Members and Trustees
| Name | Title |
|---|---|
| Judy Weber | President |
| Judy Haag | Vice President |
| Bob Christensen | Director |
| Brien Rindone | Director |
| Dennis Holmes | Director |
| Lynn Jenson | Director |
| Rebecca Lewis | Director |
| Walter Renger | Director |
| Judy Junkermeier | Secretary |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $787,147
- Program Service Revenue
- $0
- Investment Income
- $243,977
- Other Revenue
- $0
- All Other Contributions
- $26,468
- Change in Net Assets
- $1,000,268
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Other Expenses | $30,856 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Salaries, Compensation, and Employee Benefits | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Fees for Service Investment Mgmnt Fees | - | $24,963 | - | $24,963 |
| Fees for Services Accounting | - | $4,535 | - | $4,535 |
| Other Expenses | - | $1,260 | - | $1,260 |
| Office Expenses | - | $98 | - | $98 |
| Total Functional Expenses | $0 | $30,856 | $0 | $30,856 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
Political and Lobbying Activity
- Political campaign activity
- No
- Lobbying activity
- No
- Subject to proxy tax
- No
Insider Transactions and Loans
Loans and Receivables
| Line Item | Beginning | End | Change |
|---|---|---|---|
| Receivables from Disqualified Persons | - | $0 | - |
| Receivables from Officers, Directors, Trustees, and Key Employees | - | $0 | - |
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- Annual disclosure for covered persons
- Yes
- Audit committee
- Yes
- Backup withholding compliance
- 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
- Yes
- Other officer compensation reviewed
- Yes
- Conflict-of-interest policy
- Yes
- Audited financial statements prepared
- Yes
- Key decisions subject to board approval
- No
- Management duties delegated
- No
Governance Explanations
Form 990, Part VI, Line 11B: Form 990 Review Process
“The audit committee will meet with the independent auditor to review the audit. At least one member of the audit committee will have adequate financial knowledge to analyze and reasonably assess the financial statements and the competency of the auditing firm. The accountant will provide support as needed to the audit committee during the review of the audit prior to full board review. The Form 990 will be reviewed by the full board of directors at the September board meeting. They shall then take action to approve or reject the submission of the Form 990.”
Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts
“Each director, principal officer, and member of a committee with governing board-delegated powers shall annually sign a statement attesting to the fact that he/she has received a copy of the conflict-of-interest policy, has read and understands the policy, and understands the organization is charitable and that in order to maintain its Federal tax exemption, it must engage primarily in activities which accomplish one or more of its tax-exempt purposes.”
Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management
“The finance committee meets in a closed session and uses information from Guidestar, comparison of Forms 990, and the Iowa Association of Community Providers survey to make the decisions of compensation. Performance is evaluated on an annual basis. A voting member of the governing board who receives compensation is precluded from voting on matters pertaining to his/her compensation.”
Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees
“The finance committee meets in a closed session and uses information from Guidestar, comparison of Forms 990, and the Iowa Association of Community Providers survey to make the decisions of compensation. Performance is evaluated on an annual basis. A voting member of the governing board who receives compensation is precluded from voting on matters pertaining to his/her compensation.”
Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
“The Form 990 is kept on file at the organization's offices to be available for public inspection.”
Filing and Contact Details
Filer
- Filer Name
- Exceptional Opportunities
- EIN
- 83-0993675
- Phone
- 5153953251
- Address
- 119 South Jones St, Algona, IA 50511
Signing Officer
- Name
- Erin Schmidt
- Title
- Executive Director
- Signed
- 2022-08-18
- Discuss with paid preparer
- Yes
Organization Details
- Principal Officer
- Erin Schmidt
- Legal Domicile
- Ia
- Voting Board Members
- 9
- Independent Board Members
- 7
- Employees
- 0
Preparer
- Firm
- Tp Anderson & Company Pc Cpas
- Address
- 528 Sumner Avenue, HUMBOLDT, IA 50548
- Preparer
- Aaron Olson
- Phone
- 5153323466
Supplemental Narrative
Financial Statement Notes
Part X : FIN48 Footnote
“The Organization is a not-for-profit organization exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code and classified by the Internal Revenue Service as other than a private foundation.U.S. generally accepted accounting principles impose a threshold for determining when an income tax benefit can be recognized. The threshold imposed for financial statement reporting is generally higher than the threshold imposed for claiming deductions in income tax returns. As of June 30, 2021 and 2020, the Organization had not identified any uncertain income tax positions that would give rise to the recognition of income tax assets or liabilities under generally accepted accounting principles. Because no uncertain income tax positions have been identified, no accrued interest or penalties have been accrued as of June 30, 2021 and 2020. The Organization files income tax returns in the U.S. federal jurisdiction. No returns have been subject to audit in any jurisdiction in the last 3 years and the statute of limitations for federal returns remains open for returns filed for 2018, 2019 and 2020. Management continues to monitor changes in tax law and new authoritative rulings for possible effects on the Organization.”
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| IRS990/OperateHospitalInd | 0 | false |
| IRS990/Organization501c3Ind | 0 | X |
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| IRS990/OtherExpensesGrp/Desc | 0 | Employee Expense |
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| IRS990/PrincipalOfficerNm | 0 | Erin Schmidt |
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| IRS990/PYTotalExpensesAmt | 0 | 17751 |
| IRS990/PYTotalRevenueAmt | 0 | 125566 |
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| IRS990/ReconcilationRevenueExpnssAmt | 0 | 1000268 |
| IRS990/RegularMonitoringEnfrcInd | 0 | true |
| IRS990/RelatedEntityInd | 0 | true |
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| IRS990/RelatedOrganizationsAmt | 0 | 750000 |
| IRS990/ReportInvestmentsOtherSecInd | 0 | false |
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| IRS990ScheduleA/OtherSupportSumAmt | 0 | 0 |
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| IRS990ScheduleA/SupportedOrganizationsTotalCnt | 0 | 1 |
| IRS990ScheduleA/SupportedOrgInformationGrp/EIN | 0 | 420953931 |
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| IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt | 0 | 0 |
| IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt | 0 | Exceptional Opportunities Inc |
| IRS990ScheduleA/SupportingOrganization509a3Ind | 0 | X |
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| IRS990/ScheduleBRequiredInd | 0 | false |
| IRS990ScheduleD/FootnoteTextInd | 0 | X |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | The Organization is a not-for-profit organization exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code and classified by the Internal Revenue Service as other than a private foundation.U.S. generally accepted accounting principles impose a threshold for determining when an income tax benefit can be recognized. The threshold imposed for financial statement reporting is generally higher than the threshold imposed for claiming deductions in income tax returns. As of June 30, 2021 and 2020, the Organization had not identified any uncertain income tax positions that would give rise to the recognition of income tax assets or liabilities under generally accepted accounting principles. Because no uncertain income tax positions have been identified, no accrued interest or penalties have been accrued as of June 30, 2021 and 2020. The Organization files income tax returns in the U.S. federal jurisdiction. No returns have been subject to audit in any jurisdiction in the last 3 years and the statute of limitations for federal returns remains open for returns filed for 2018, 2019 and 2020. Management continues to monitor changes in tax law and new authoritative rulings for possible effects on the Organization. |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Part X : FIN48 Footnote |
| IRS990/ScheduleJRequiredInd | 0 | false |
| IRS990/ScheduleORequiredInd | 0 | true |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | The audit committee will meet with the independent auditor to review the audit. At least one member of the audit committee will have adequate financial knowledge to analyze and reasonably assess the financial statements and the competency of the auditing firm. The accountant will provide support as needed to the audit committee during the review of the audit prior to full board review. The Form 990 will be reviewed by the full board of directors at the September board meeting. They shall then take action to approve or reject the submission of the Form 990. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | Each director, principal officer, and member of a committee with governing board-delegated powers shall annually sign a statement attesting to the fact that he/she has received a copy of the conflict-of-interest policy, has read and understands the policy, and understands the organization is charitable and that in order to maintain its Federal tax exemption, it must engage primarily in activities which accomplish one or more of its tax-exempt purposes. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | The finance committee meets in a closed session and uses information from Guidestar, comparison of Forms 990, and the Iowa Association of Community Providers survey to make the decisions of compensation. Performance is evaluated on an annual basis. A voting member of the governing board who receives compensation is precluded from voting on matters pertaining to his/her compensation. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | The finance committee meets in a closed session and uses information from Guidestar, comparison of Forms 990, and the Iowa Association of Community Providers survey to make the decisions of compensation. Performance is evaluated on an annual basis. A voting member of the governing board who receives compensation is precluded from voting on matters pertaining to his/her compensation. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | The Form 990 is kept on file at the organization's offices to be available for public inspection. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Form 990, Part VI, Line 11b: Form 990 Review Process |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | Form 990, Part VI, Line 19: Other Organization Documents Publicly Available |
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| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd | 0 | N/A |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt | 0 | Exceptional Opportunities Inc |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN | 0 | 420953931 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt | 0 | 501(c)(3) |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd | 0 | IA |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt | 0 | Living services to disabled persons |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt | 0 | 10 |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt | 0 | 119 S Jones St |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm | 0 | Algona |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd | 0 | IA |
| IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd | 0 | 50511 |
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| IRS990/TotalAssetsGrp/EOYAmt | 0 | 4707138 |
| IRS990/TotalCompGreaterThan150KInd | 0 | false |
| IRS990/TotalContributionsAmt | 0 | 787147 |
| IRS990/TotalEmployeeCnt | 0 | 0 |
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| IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt | 0 | 30856 |
| IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt | 0 | 0 |
| IRS990/TotalFunctionalExpensesGrp/TotalAmt | 0 | 30856 |
| IRS990/TotalGrossUBIAmt | 0 | 0 |
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| IRS990/TotalLiabilitiesGrp/EOYAmt | 0 | 0 |
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| IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt | 0 | 4707138 |
| IRS990/TotalProgramServiceRevenueAmt | 0 | 0 |
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| IRS990/TotReportableCompRltdOrgAmt | 0 | 97126 |
| IRS990/TravelGrp/TotalAmt | 0 | 0 |
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| IRS990/TypeOfOrganizationCorpInd | 0 | X |
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| IRS990/UponRequestInd | 0 | X |
| IRS990/USAddress/AddressLine1Txt | 0 | 119 South Jones St |
| IRS990/USAddress/CityNm | 0 | Algona |
| IRS990/USAddress/StateAbbreviationCd | 0 | IA |
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Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2022 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $4,707,138
- Liabilities
- $0
- Net assets
- $4,707,138
- Revenue
- $1,031,124
- Expenses
- $30,856
- Net income
- $1,000,268