1040 Initiative
EIN: 270659329 · Norman, OK · NTEE: P20
| Metric | Value |
|---|---|
| Total Revenue | $713K |
| Total Expenses | $580K |
| Net Assets | $521K |
Is 1040 Initiative Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About 1040 Initiative
1040 Initiative (EIN: 270659329) is a nonprofit organization based in Norman, OK, classified under NTEE code P20. The organization reported total revenue of $713K and total assets of $1.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of 1040 Initiative's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
1040 Initiative is a small nonprofit that has been operating for 16 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -9.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $119K |
| Total Expenses | $580K |
| Surplus / Deficit | $-460,688 |
| Total Assets | $784K |
| Total Liabilities | $263K |
| Net Assets | $521K |
| Operating Margin | -387.4% |
| Debt-to-Asset Ratio | 33.5% |
| Months of Reserves | 16.2 months |
Financial Health Grade: B
In 2023, 1040 Initiative reported a deficit of $461K with expenses exceeding revenue, holds 16.2 months of operating reserves (strong position), has a debt-to-asset ratio of 33.5% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), 1040 Initiative's revenue has declined at a compound annual growth rate (CAGR) of -9.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -74.1% | +2.9% | -33.4% |
| 2022 | -25.2% | -1.7% | +7.3% |
| 2021 | +24.4% | +24.9% | +4.3% |
| 2020 | -4.3% | -28.9% | +9.8% |
| 2019 | -32.6% | -6.4% | -12.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2010 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for 1040 Initiative has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates 1040 Initiative with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $461K, with expenses exceeding revenue.
- Debt-to-asset ratio: 33.5%.
Frequently Asked Questions about 1040 Initiative
Is 1040 Initiative a legitimate charity?
Based on AI analysis of IRS 990 filings, 1040 Initiative (EIN: 270659329) insufficient data. 0 red flags identified, 0 strengths noted.
How does 1040 Initiative spend its money?
Detailed spending breakdown data is not yet available for 1040 Initiative. Check back for updated IRS 990 analysis.
Are donations to 1040 Initiative tax-deductible?
1040 Initiative is registered as a tax-exempt nonprofit (EIN: 270659329). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is 1040 Initiative located?
1040 Initiative is headquartered in Norman, Oklahoma and files with the IRS under EIN 270659329. It is classified under NTEE code P20.
How many years of IRS 990 filings does 1040 Initiative have?
1040 Initiative has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $713K in total revenue.
Filing History
IRS 990 filing history for 1040 Initiative showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), 1040 Initiative's revenue has declined by 68.2%, moving from $374K to $119K. Total assets increased by 402.7% over the same period, from $156K to $784K. Total functional expenses rose by 106.6%, from $281K to $580K. In its most recent filing year (2023), 1040 Initiative reported a deficit of $461K, with expenses exceeding revenue. The organization holds $263K in liabilities against $784K in assets (debt-to-asset ratio: 33.5%), resulting in net assets of $521K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $119K | $580K | $784K | $263K | — | — |
| 2022 | $459K | $563K | $1.2M | $196K | — | View 990 |
| 2021 | $613K | $573K | $1.1M | $11K | — | View 990 |
| 2020 | $493K | $459K | $1.1M | $8K | — | View 990 |
| 2019 | $515K | $646K | $958K | $19K | — | View 990 |
| 2018 | $764K | $690K | $1.1M | $24K | — | View 990 |
| 2017 | $939K | $780K | $1.0M | $19K | — | View 990 |
| 2016 | $758K | $647K | $863K | $51K | — | View 990 |
| 2015 | $713K | $770K | $746K | $45K | — | View 990 |
| 2014 | $977K | $637K | $807K | $50K | — | View 990 |
| 2013 | $801K | $584K | $433K | $16K | — | View 990 |
| 2012 | $560K | $583K | $215K | $15K | — | View 990 |
| 2011 | $374K | $281K | $156K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $119K, expenses of $580K, and assets of $784K (revenue -74.1% year-over-year).
- 2022: Revenue of $459K, expenses of $563K, and assets of $1.2M (revenue -25.2% year-over-year).
- 2021: Revenue of $613K, expenses of $573K, and assets of $1.1M (revenue +24.4% year-over-year).
- 2020: Revenue of $493K, expenses of $459K, and assets of $1.1M (revenue -4.3% year-over-year).
- 2019: Revenue of $515K, expenses of $646K, and assets of $958K (revenue -32.6% year-over-year).
- 2018: Revenue of $764K, expenses of $690K, and assets of $1.1M (revenue -18.7% year-over-year).
- 2017: Revenue of $939K, expenses of $780K, and assets of $1.0M (revenue +23.9% year-over-year).
- 2016: Revenue of $758K, expenses of $647K, and assets of $863K (revenue +6.3% year-over-year).
- 2015: Revenue of $713K, expenses of $770K, and assets of $746K (revenue -27.0% year-over-year).
- 2014: Revenue of $977K, expenses of $637K, and assets of $807K (revenue +22.0% year-over-year).
- 2013: Revenue of $801K, expenses of $584K, and assets of $433K (revenue +43.0% year-over-year).
- 2012: Revenue of $560K, expenses of $583K, and assets of $215K (revenue +49.7% year-over-year).
- 2011: Revenue of $374K, expenses of $281K, and assets of $156K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for 1040 Initiative:
Data Sources and Methodology
This transparency report for 1040 Initiative is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.