Quality Products Inc

Nonprofit profile at a glance

EIN
431503820
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Nevada, MO, USA
Phone
4176678944
Rating
86
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$375,767
Expenses
$420,150
Assets
$912,830
Liabilities
$504,618

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • VIC WOLF (PRESIDENT)
  • LINDA MOORE (VICE PRESIDENT)

People named in this filing

  • KATHY MODLIN (BOARD MEMBER)
  • DAVID HEUMADER (BOARD MEMBER)
  • BONNIE FRANKLIN (BOARD MEMEBER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To establish, operate, administer a sheltered workshop for handicapped adults

What it reported doing in 2024

To establish, operate & administer a sheltered workshop for approximately 20 handicapped adults. These employees box, assemble & package various products for local industries.

Operating model

Revenue model
Grant-funded. 88% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 100
  • Accountability: 82
  • Sustainability: 37
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 82.6%; rating input score 83
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -11.8%; rating input score 20; 20th percentile among comparable filings
  • Total-asset coverage ratio: 2.17; rating input score 61; 61st percentile among comparable filings
  • Liabilities to assets ratio: 0.55; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 1.9% per year; rating input score 100; 39th percentile among comparable filings
  • Revenue growth: 0.1% per year; rating input score 100; 24th percentile among comparable filings
  • Asset growth: 8.1% per year; rating input score 100; 60th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 82.6% of spending went to programs
  • Governance: 9 of 9 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $347K in reported program spending
  • Leadership: top reported pay $0 · 10 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Operating margin scored 20/100.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.