Civic Intelligence

Lets Equip Inc.

990 • Fiscal year 2023 • EIN 84-4229241

Jan 01, 2023 to Dec 31, 2023 • Filed on Jul 22, 2024

Organization ProfileWWW.LETSEQUIP.COM
3001 S Hardin Blvd 110 PMB 1069McKinney, TX 75070

(214) 775-0838

Siviq Scores

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

Liabilities / Assets

58th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

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

Liabilities / Revenue

59th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

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

Net Margin

15th percentile

-29%

Higher net margin than 15% 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

31st percentile

-11%

Faster asset growth than 31% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2023

Revenue Growth

34th percentile

-9.1%

Faster revenue growth than 34% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2021 to 2023

Balance Sheet
Liabilities / Assets58th percentile

Assets

Down

$191,154

Down $49,221 (-20%) from 2021

Net Assets

Down

$191,154

Down $49,221 (-20%) from 2021

Liabilities

Flat

$0

Flat from 2021

Revenue And Expenses
Liabilities / Revenue59th percentileNet Margin15th percentile

Revenue

Down

$462,342

Down $97,475 (-17%) from 2021

Expenses

Up

$595,719

Up $133,301 (+29%) from 2021

Net Income

Down

-$133,377

Down $230,776 (-237%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth31st percentile

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

$300K$200K$100K$0Assets 2020: $142,976Liabilities 2020: $0Net Assets 2020: $142,9762020Assets 2021: $240,375Liabilities 2021: $0Net Assets 2021: $240,3752021Assets 2023: $191,154Liabilities 2023: $0Net Assets 2023: $191,1542023Assets 2024: $245,080Liabilities 2024: $0Net Assets 2024: $245,0802024

Highlighted filing

2023

Assets$191,154
Liabilities$0
Net Assets$191,154
Open 2023 Filing

Operations Trend

Revenue Growth34th percentile

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

$600K$400K$200K$0-$200KRevenue 2020: $366,745Expenses 2020: $227,794Net Income 2020: $138,9512020Revenue 2021: $559,817Expenses 2021: $462,418Net Income 2021: $97,3992021Revenue 2023: $462,342Expenses 2023: $595,719Net Income 2023: -$133,3772023Revenue 2024: $357,453Expenses 2024: $303,527Net Income 2024: $53,9262024

Highlighted filing

2023

Revenue$462,342
Expenses$595,719
Net Income-$133,377
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Jul 22, 2024
Return Version
2023v5.1
Gross Receipts
$462,342
Mission and Program Overview

Mission

To equip believers with the necessary tools, training, and teaching for ministry.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$324,518$191,154▼ $133,364
Cash and Non-Interest-Bearing Accounts$304,653$180,774▼ $123,879
Land, Buildings, and Equipment, Net$19,865$10,380▼ $9,485
Total Assets$324,518$191,154▼ $133,364
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$324,518$191,154▼ $133,364
Total Liabilities and Net Assets / Fund Balance$324,518$191,154▼ $133,364

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$10,380$22,750$33,130
Compensation and Service Providers
Top Officer Pay78th percentile

Board Members and Trustees

NameTitle
Allen ParrDirector
Jennifer ParrDirector
Reggie HilliardDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$462,342
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$462,342
Change in Net Assets
$-133,377
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$466,772
Salaries, Compensation, and Employee Benefits$128,947
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Advertising$118,473--$118,473
Other Salaries and Wages$118,000--$118,000
Office Expenses$23,548$5,164-$28,712
All Other Expenses$9,840$7,336-$17,176
Other Expenses$10,064$1,461-$10,064
Payroll Taxes$9,027--$9,027
Fees for Services Accounting-$3,000-$3,000
Other Employee Benefits$1,920--$1,920
Travel-$678-$678
Insurance-$520-$520
Total Functional Expenses$577,512$18,207$0$595,719
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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

Officer directors etc family relationship Part VI line 2

“Allen parr and jennifer parr are married to one another.”

Form 990 governing body review Part VI line 11

“The governing body reviews the tax return prior to tax filing.”

Conflict of interest policy compliance Part VI line 12C

“The organization has a conflict of interest policy.”

CEO executive director top management comp Part VI line 15A

“Officer compensation is determined by the board of directors.”

Other officer or key employee compensation Part VI line 15B

“Officer and key employee compensation is determined by the board of directors.”

Governing documents etc available to public Part VI line 19

“Organizational governing documents are available by request.”

Filing and Contact Details

Filer

Filer Name
Lets Equip Inc
EIN
84-4229241
Address
3001 S Hardin Blvd 110 PMB 1069, McKinney, TX 75070

Signing Officer

Name
Allen Parr
Title
President
Phone
2144764472
Signed
2024-07-22
Discuss with paid preparer
No

Organization Details

Formed
2020
Legal Domicile
TX
Voting Board Members
3
Independent Board Members
0
Employees
2

Preparer

Firm
Chrystal Bernard CPA
Address
4001 Jasmine Fox Lane, Arlington, TX 76005
Preparer
Chrystal Bernard
Phone
2144901922
Supplemental Narrative

Additional Explanations

Explanation of other changes in net assets or fund balances Part XI line 9

“ROUNDING ADJUSTMENT”

Raw XML Appendix323 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/Desc0REACHED MILLIONS OF VIEWERS ON THE MINISTRY YOUTUBE CHANNEL, THE BEAT, BY SHARING THE GOSPEL OF JESUS CHRIST THROUGH VARIOUS TOPICS AND DISCUSSIONS. NUMBER OF VIEWS INCREASED BY 29 MILLION VIEWS WORLDWIDE FOR A TOTAL OF 141 MILLION LIFETIME VIEWS. OVER 1.3M SUBSCRIBERS LISTEN TO NEWLY RELEASED VIDEOS EACH TUESDAY. NEW SUBSCRIBERS INCREASED BY 195,000 IN 2023.
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IRS990/ProgSrvcAccomActy2Grp/Desc0INCREASED OUR SOCIAL MEDIA FOLLOWING ON FACEBOOK OF OVER 100,000 FOLLOWERS AND INSTAGRAM PAGE TO OVER 50,000 FOLLOWERS. THIS SOCIAL MEDIA INITIATIVE HELPED GROW OUR ONLINE LETS EQUIP ONLINE COMMUNITY WITH HUNDREDS OF NEW MEMBERS.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ALLEN PARR AND JENNIFER PARR ARE MARRIED TO ONE ANOTHER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE GOVERNING BODY REVIEWS THE TAX RETURN PRIOR TO TAX FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION HAS A CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3OFFICER COMPENSATION IS DETERMINED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4OFFICER AND KEY EMPLOYEE COMPENSATION IS DETERMINED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ORGANIZATIONAL GOVERNING DOCUMENTS ARE AVAILABLE BY REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6ROUNDING ADJUSTMENT
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Officer directors etc family relationship Part VI line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Other officer or key employee compensation Part VI line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Explanation of other changes in net assets or fund balances Part XI line 9
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ReturnHeader/Filer/BusinessNameControlTxt0LETS
ReturnHeader/Filer/EIN0844229241
ReturnHeader/Filer/USAddress/AddressLine1Txt03001 S Hardin Blvd 110 PMB 1069
ReturnHeader/Filer/USAddress/CityNm0McKinney
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd075070
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0471913069
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Chrystal Bernard CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt04001 Jasmine Fox Lane
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Arlington
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd076005
ReturnHeader/PreparerPersonGrp/PhoneNum02144901922
ReturnHeader/PreparerPersonGrp/PreparationDt02024-07-22
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Chrystal Bernard
ReturnHeader/ReturnTs02024-07-22T17:52:05-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0ALLEN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0PARR
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
$191,154
Liabilities
$0
Net assets
$191,154
Revenue
$462,342
Expenses
$595,719
Net income
-$133,377
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.45$0.00$2.45$3.57$3.04$0.54
2023Detailed filing. Detailed filing data is available for this year.$1.91$0.00$1.91$4.62$5.96$1.33
2021Detailed filing. Detailed filing data is available for this year.$2.40$0.00$2.40$5.60$4.62$0.97
2020Detailed filing. Detailed filing data is available for this year.$1.43$0.00$1.43$3.67$2.28$1.39