Progress Inc.
Fiscal Year
Fiscal Year Start
07/01/2024
Fiscal Year End
06/30/2025
Projected Revenue
$13,534,123.00
Projected Expenses
$13,421,233.00
Organizational Budgets and Other Documents
IRS Letter of Exemption
| progress inc. irs ltr |
Detailed Financials
Revenue and Expenses
| Fiscal Year | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Revenue | $11,970,213.00 | $11,389,774.00 | |
| Total Expenses | $11,548,940.00 | $10,599,395.00 | |
| Revenue Less Expenses | ($-0.00) | $421,273.00 | $790,379.00 |
Revenue Sources
| Fiscal Year | 2024 | 2023 | 2022 |
|---|---|---|---|
| Foundation and Corporation Contributions | $0.00 | $95,000.00 | |
| Government - Federal | $0.00 | $0.00 | |
| Government - State | $0.00 | $0.00 | |
| Government - Local | $0.00 | $0.00 | |
| Government - Unspecified | $0.00 | $0.00 | |
| Contributions, Gifts, and Grants | $196,511.00 | $105,964.00 | |
| Indirect Public Support | $0.00 | $0.00 | |
| Earned Revenue | $11,772,489.00 | $11,174,121.00 | |
| Investment Income, Net of Losses | $22.00 | $242.00 | |
| Membership Dues | $0.00 | $0.00 | |
| Special Events | $0.00 | $0.00 | |
| Revenue In-Kind | $0.00 | $0.00 | |
| Other | $1,191.00 | $14,447.00 |
Expense Allocation
| Fiscal Year | 2024 | 2023 | 2022 |
|---|---|---|---|
| Program Expense | $9,917,595.00 | $9,088,529.00 | |
| Administration Expense | $1,453,015.00 | $1,345,395.00 | |
| Fundraising Expense | $178,330.00 | $165,471.00 | |
| Total Revenue/Total Expenses | 104% | 107% | |
| Program Expense/Total Expenses | 86% | 86% | |
| Fundraising Expense/Contributed Revenue | 2% | 2% |
Top Funding Sources
| Fiscal Year | 2024 | 2023 | 2022 |
|---|---|---|---|
| Top Funding Source & Dollar Amount | $0.00 | Program Revenue $11,772,489.00 | Program Revenue $11,174,121.00 |
| Second Highest Funding Source & Dollar Amount | $0.00 | Other Revenue $1,191.00 | Contributions, Gifts, and Grants $105,964.00 |
| Third Highest Funding Source & Dollar Amount | $0.00 | Investment Income $22.00 | Foundations and Corporations $95,000.00 |
Assets and Liabilities
| Fiscal Year | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $6,552,923.00 | $6,116,091.00 | |
| Current Assets | $4,015,779.00 | $3,569,758.00 | |
| Long-Term Liabilities | $648,662.00 | $566,697.00 | |
| Current Liabilities | $1,061,725.00 | $1,128,131.00 | |
| Total Net Assets | $4,842,536.00 | $4,421,263.00 |
Endowment Info
Do you have an endowment?
Yes
What is the value of the endowment?
$116,249.63
What is the spending policy for your endowment?
N/A
Capital Campaign Info
Are you currently in a Capital Campaign?
No
Do you anticipate a campaign in the next 5 years?
No
Solicitation Permit Info
State Charitable Solicitations Permit
Yes
Permit Expiration Month
December
Permit Expiration Year
2024
Solicitations Permit
Form 990s
Audit Documents
CEO/Executive Director/Board Comments
| Revenue for Progress programs and services comes from governmental reimbursement in the form of fees paid to support people in their homes who have intellectual and/or physical disabilities or are seniors. (96% - Medicaid Waiver Funded Services, 2% -grants and donations, 2 % - other.) Progress has an Endowment Fund managed by the CFMT. We do not draw off the earnings, preferring they contribute to the growth of the fund. Progress faces different financial challenges each year. The gap between the cost of providing care and the Medicaid reimbursement remains significant. The most significant factor in terms of growing our business for people with intellectual disabilities has been the lack of growth in the Home and Community Based Waiver funded by CMS and state funds. We plan to continue to increase our senior services base from Medicaid only clients to include significant numbers of private pay clients. |
Foundation Staff Comments
| Financial figures taken from the 990. In some years, schedule B removed to protect donor privacy. In other years, foundation and corporate grants may be included in Contributions, Gifts, and Grants sum, as these amounts are not separated in Form 990. Financial documents prepared by UHY Advisors Mo, Inc. Comments provided by Nicole Rose 07/22/2024. |
