Nonprofit · EIN 82-1543204
FINAO INC
Tax-exempt (reinstated) · RACINE, WI 53404
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $2,390,202 | $2,425,908 | -$35,706 | $181,419 | $4,260 | $177,159 |
| December 31, 2023 | 990 | $314,091 | $402,076 | -$87,985 | $213,546 | $681 | $212,865 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $2,392,897
- Program service revenue
- $0
- Investment income
- -$2,695
- Net gain from sales of assets
- -$2,791
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $448
- Compensation of officers, directors and key employees
- $17,641
- Other salaries and wages
- $11,571
- Salaries, compensation and benefits (total)
- $31,627
- Professional fundraising fees
- $0
- Legal fees
- $63
- Accounting fees
- $11,272
- Occupancy
- $42,131
- Depreciation
- $36,933
- Program services (functional)
- $2,408,816
- Management and general (functional)
- $17,092
Balance sheet and other
- Total assets, start of year
- $213,546
- Total assets, end of year
- $181,419
- Total liabilities, end of year
- $4,260
- Net assets, end of year
- $177,159
- Land, buildings and equipment
- $65,766
- Net assets without donor restrictions
- $177,159
- Gross receipts
- $2,395,414
- Employees
- 5
- Volunteers
- 35
- Year formed
- 2017
- State of legal domicile
- WI
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Leon Brown Sr | President Officer | 40 | $13,600 |
| Debra Brown | Director Trustee or director | 40 | $3,000 |
| Linda Mullins | Director Trustee or director | 1 | $1,041 |
| Libby Adams | Secretary Officer | 35 | $0 |
| Paula Swanigan | Treasurer Officer | 30 | $0 |
| Kim Zelko | Director Trustee or director | 15 | $0 |
| Christopher Paulson | Director Trustee or director | 6 | $0 |
| Elaine Sweeny | Director Trustee or director | 32 | $0 |
| Cynthia Hileman | Director Trustee or director | 3.2 | $0 |
990 for the year ended December 31, 2023: 14 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Leon Brown Sr | President Officer | 40 | $14,400 |
| Debra Brown | Director Trustee or director | 40 | $12,000 |
| Libby Adams | Secretary Officer | 35 | $0 |
| Paula Swanigan | Treasurer Officer | 30 | $0 |
| Kim Zelko | Director Trustee or director | 15 | $0 |
| Chester Parker | Director Trustee or director | 40 | $0 |
| Christopher Paulson | Director Trustee or director | 6 | $0 |
| Heather Parker | Director Trustee or director | 1 | $0 |
| Elaine Sweeny | Director Trustee or director | 40 | $0 |
| William Scott Sr | Director Trustee or director | 1 | $0 |
| Linda Mullins | Director Trustee or director | 1 | $0 |
| Cynthia Hileman | Director Trustee or director | 40 | $0 |
| April Guenther | Director Trustee or director | 1 | $0 |
| Ronald Tatum | Former President Former | 10 | $0 |
Address and contacts
- Address (IRS master file)
- 2707 RAPIDS DR, RACINE, WI 53404-1743
- In care of
- % FINAO INC
- Mailing address (990-N for 2019)
- 2707 Rapids Dr, Racine WI 53404
- Principal officer (990 for 2024)
- Paula Swanigan, 2707 Rapids Dr, Racine, WI 53404
- Principal officer (990-N for 2019)
- Ronald Tatum, 623 Ninth St, Racine WI 53402
- Signed the 990
- Paula Swanigan, Treasurer
- Phone
- (262) 637-9673
- Return prepared by
- WHITFIELD & ASSOCIATES LLC
Mission
To provide food and other services to the needy.
Program accomplishments
- SOS - Program able to supply groceries biweekly to seniors age 65+ program served average of 110 senior each week with the four categories of good as well as made availability items on the wall to purchase like napkins, paper products and hygiene items for use.Expenses $96,666 · grants $448
- Fuel 4 Thought is a family oriented program that was held weekly geared to incorporate parent participation with their children ages 4-10. Each week was a themed activity whether an arts/craft project, creating a meal to take home to cook, a guest speaker teaching on a subject like wildlife animals, and then book reading. Children take home a book and turn in a report and earn tokens that they can exchange for prize at the end of each month once they collect four.Expenses $19,333
- Snack sacks is the largest method used to distribute food for the Community. It is held weekly and meals are prepared as an easy prep format (use a microwave is air fryer) to cook a meal to feed the family over 200 families are served per month through the program. Also, general food distribution to low income families through our food pantry.Expenses $2,292,817
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 82-1543204
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2024
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Philanthropy, voluntarism and grantmaking foundations (T99)
- Assets (IRS master file)
- $181,419
- Income (IRS master file)
- $2,395,414
Revocation and reinstatement
- Exemption revoked
- May 15, 2023
- Posted by the IRS
- February 12, 2024
- Reinstated
- Effective May 15, 2023
From the IRS automatic revocation list: organizations that did not file a required return or e-Postcard for three consecutive years.
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $2,390,202 | $2,425,908 | $181,419 | IRS |
| 990 | December 2023 | $314,091 | $402,076 | $213,546 | XML |
| 990-N for 2019 Officer: Ronald Tatum | December 31, 2019 | ≤ $50,000 receipts | – | – | e-Postcard |
| 990-N for 2018 Officer: Ronald Tatum | December 31, 2018 | ≤ $50,000 receipts | – | – | e-Postcard |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 82-1543204).
Questions about FINAO INC
- What is the EIN of FINAO INC?
- The employer identification number (EIN) of FINAO INC is 82-1543204.
- Is FINAO INC tax-exempt?
- Yes. The IRS revoked its exemption on May 15, 2023 and reinstated it effective May 15, 2023.
- Are donations to FINAO INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does FINAO INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of FINAO INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did FINAO INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of FINAO INC?
- The 990 for the year ended December 31, 2024 names Paula Swanigan.
- Who are the officers and directors of FINAO INC?
- The 990 for the year ended December 31, 2024 lists 9 people; 3 received compensation from the organization, the highest $13,600 (Leon Brown Sr, President).
- How much revenue does FINAO INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $2,390,202, expenses of $2,425,908 and total assets of $181,419 at year end.
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All nonprofits in RACINE · Wisconsin · Philanthropy, voluntarism and grantmaking foundations