ALGAE BIOMASS ORGANIZATION

EIN: 262691686 Community Improvement

DES MOINES, IA

Total Revenue
$376,631
Total Expenses
$354,824
Total Assets
$13,406
Net Assets
$-60,351
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2008
Legal Domicile
WA
Principal Officer
KEVIN MCGRAW
Phone
8775315512
Tax Period
2024-01-01 to 2024-12-31

ALGAE BIOMASS ORGANIZATION, founded in 2008, is a small nonprofit in the Community Improvement sector that reported $377K in total revenue in fiscal year 2024. Expenses of $355K left a modest 6% surplus.

Mission

THE ALGAE BIOMASS ORGANIZATION ("ABO") IS ORGANIZED EXCLUSIVELY AS AN INDEPENDENT TRADE ASSOCIATION WHICH QUALIFIES AS AN EXEMPT ORGANIZATION UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE OF 1986.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $153,273
Program Service Revenue $218,460
Investment Income $0
Other Revenue $4,898
TOTAL REVENUE $376,631

Expense Breakdown

Grants Paid $0
Salaries & Benefits $91,147
Fundraising Expenses $35,482
Program Expenses $248,377
Other Expenses $263,677
TOTAL EXPENSES $354,824

Year-over-Year Comparison

2024 2023 Change
Revenue $376,631 $380,166 0.0%
Expenses $354,824 $401,966 -0.1%
Net Income $21,807 $-21,800 -2.0%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
12
Independent Members
11
Employees
2
Volunteers
11

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$49,538
Total Directors
12
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MIKE LAMONT PRESIDENT 0.50
Officer Director
$0 $0 $0
MARTIN GROSS PAST-PRESIDENT 0.50
Officer Director
$0 $0 $0
ZACH GATES TREASURER 0.50
Officer Director
$0 $0 $0
AMHA BELAY DIRECTOR 0.50
Director
$0 $0 $0
DAN LEVY DIRECTOR 0.50
Director
$0 $0 $0
DAVID HAZLEBACK DIRECTOR 0.50
Director
$0 $0 $0
GREG MITCHELL DIRECTOR 0.50
Director
$0 $0 $0
JEN JOHANSON DIRECTOR 0.50
Director
$0 $0 $0
JOHN BENEMANN DIRECTOR 0.50
Director
$0 $0 $0
JOSH RHEIN DIRECTOR 0.50
Director
$0 $0 $0
KEVIN MCGRAW DIRECTOR 0.50
Director
$0 $0 $0
NAGATOSHI IDE DIRECTOR 0.50
Director
$0 $0 $0
JON KALLEN EXECUTIVE DIRECTOR 40.00
Officer
$49,538 $0 $49,538
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $376,631 $354,824 $13,406 $21,807
2023 $380,166 $401,966 $19,277 $-21,800
2022 $248,663 $236,665 $28,432 $11,998
2021 $372,077 $361,174 $25,041 $10,903
2020 $344,790 $314,150 $36,102 $30,640
2019 $683,814 $525,483 $42,851 $158,331
2018 $666,327 $829,060 $16,504 $-162,733
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