Overview
What is Payee Services Inc?
Payee Services Inc is a nonprofit organization that offers essential representative payee services to an average of 725 clients annually. Their primary role involves managing bills and accounts on behalf of their clients, ensuring their financial well-being. By providing these services, they empower individuals who may require assistance in handling their financial affairs due to various circumstances. The organization's mission is centered around enhancing financial independence and stability for its clients, contributing positively to their overall quality of life.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 54% (One-Star out of Four Star Rating)
Payee Services Inc has received a low rating of 54% from Charity Navigator, indicating concerns primarily related to its financial performance. The rating is based solely on accountability and finance metrics. While the organization boasts a fully independent board and has shown no material diversion of assets, its program expense ratio of 22.96% raises significant red flags about the proportion of funds allocated directly to its mission.
The organization excels in governance aspects, with a perfect score for board independence and strong policies in place regarding conflicts of interest and document retention. However, the overall financial health is concerning, particularly the liabilities to assets ratio at 60.33%, which suggests potential financial instability. These factors contribute to the low overall score, underscoring the need for improvement in financial management and program funding.
While Payee Services Inc demonstrates accountability through its governance practices, the limited funds directed towards its programs may hinder its effectiveness in achieving its mission. Stakeholders and potential donors should consider these financial metrics carefully when evaluating the organization's overall impact and sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is Payee Services Inc legitimate?
Payee Services Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Payee Services Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $85,964
Professional Fundraising Fees: $0
Other Salaries and Wages: $168,662
For more financial information, click here
What is the mission statement of Payee Services Inc?
Payee Services Inc's mission is focused on providing representative payee services, specifically managing bills and accounts, to an average of 725 clients annually. Their primary activity revolves around ensuring financial management for their clients, ensuring their essential expenses are covered. The organization's mission is to support individuals who may require assistance with financial management, providing them with the necessary assistance to maintain their living standards. Payee Services Inc's programs primarily revolve around these representative payee services, offering a vital service to those who need it.
Who is the CEO of Payee Services Inc?
Joann Knutson is the President of Payee Services Inc.
What is the revenue of Payee Services Inc?
Payee Services Inc's revenue in 2022 was $486,131.
Who are the executives of Payee Services Inc and what are their salaries?
The average compensation at Payee Services Inc during 2022 was $19,587. There are 13 employees and 2 volunteers at Payee Services Inc.
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Payee Services Inc?
Payee Services Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Payee Services Inc
Payee Services Inc, as a nonprofit organization, is committed to providing representative payee services. This entails managing bills and accounts for an average of 725 clients annually. The mission of Payee Services Inc is to ensure financial stability and independence for its clients by acting as their financial representative. The organization takes care of various financial obligations, such as paying bills, on behalf of its clients, thereby alleviating them of financial burdens and allowing them to focus on other aspects of their lives. This service is crucial for individuals who may struggle with managing their finances due to various circumstances, such as physical or mental health challenges, age-related issues, or developmental disabilities. By providing representative payee services, Payee Services Inc plays a vital role in promoting financial security and empowerment for its clients.
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Impact
July, 2024
Payee Services Inc has a significant impact on the community by providing representative payee services to an average of 725 clients throughout the year. Through managing bills and accounts for these clients, the organization plays a crucial role in ensuring financial stability and security for individuals in need. This assistance directly contributes to the well-being of those served, helping them navigate financial challenges and maintain their livelihood. Payee Services Inc's dedication to human services demonstrates a commitment to supporting vulnerable populations and making a positive difference in the lives of those they assist.
This information is meant to be a general summary of Payee Services Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Program Service Revenue: $486,131
- Gross Receipts: $486,131
Assets and Liabilities:
- Total Assets: $46,089
- Total Liabilities: $27,807
- Net Assets: $18,282
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Organization Details
Founding Year
2007
Phone
(715) 233-0203Principal Officer
Joann Knutson
Main Address
3120 SCHNEIDER AVE SE PO BOX 26, MENOMONIE, WI, 54751
NTEE Category
Code: P990 - Human services
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