Agape Retirement Home Inc
EIN: 581522484 · Valdese, NC
Is Agape Retirement Home Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Agape Retirement Home Inc
Agape Retirement Home Inc (EIN: 581522484) is a nonprofit organization based in Valdese, NC. The organization reported total revenue of $313K and total assets of $492K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Agape Retirement Home Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Agape Retirement Home Inc is a small nonprofit that has been operating for 43 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 2.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $290K |
| Total Expenses | $250K |
| Surplus / Deficit | +$40K |
| Total Assets | $474K |
| Total Liabilities | $930K |
| Net Assets | $-456,306 |
| Operating Margin | 13.9% |
| Debt-to-Asset Ratio | 196.4% |
| Months of Reserves | 22.8 months |
Financial Health Grade: A
In 2023, Agape Retirement Home Inc reported a surplus of $40K with revenue exceeding expenses, holds 22.8 months of operating reserves (strong position), has a debt-to-asset ratio of 196.4% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Agape Retirement Home Inc's revenue has grown at a compound annual growth rate (CAGR) of 2.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +3.4% | +0.1% | +2.1% |
| 2022 | +1.5% | +1.0% | +1.2% |
| 2021 | +0.7% | -6.0% | -1.5% |
| 2020 | +1.2% | +1.5% | -2.5% |
| 2019 | +2.3% | +2.8% | -1.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1983 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Agape Retirement Home Inc 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 Agape Retirement Home Inc 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 surplus of $40K, with revenue exceeding expenses.
- Debt-to-asset ratio: 196.4%.
Frequently Asked Questions about Agape Retirement Home Inc
Is Agape Retirement Home Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Agape Retirement Home Inc (EIN: 581522484) insufficient data. 0 red flags identified, 0 strengths noted.
How does Agape Retirement Home Inc spend its money?
Detailed spending breakdown data is not yet available for Agape Retirement Home Inc. Check back for updated IRS 990 analysis.
Are donations to Agape Retirement Home Inc tax-deductible?
Agape Retirement Home Inc is registered as a tax-exempt nonprofit (EIN: 581522484). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Filing History
IRS 990 filing history for Agape Retirement Home Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Agape Retirement Home Inc's revenue has grown by 26.5%, moving from $229K to $290K. Total assets decreased by 31.1% over the same period, from $687K to $474K. Total functional expenses rose by 1.1%, from $247K to $250K. In its most recent filing year (2023), Agape Retirement Home Inc reported a surplus of $40K, with revenue exceeding expenses. The organization holds $930K in liabilities against $474K in assets (debt-to-asset ratio: 196.4%), resulting in net assets of $-456,306.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $290K | $250K | $474K | $930K | — | View 990 |
| 2022 | $280K | $249K | $464K | $960K | — | View 990 |
| 2021 | $276K | $247K | $458K | $986K | — | View 990 |
| 2020 | $274K | $263K | $465K | $1.0M | — | View 990 |
| 2019 | $271K | $259K | $478K | $1.0M | — | View 990 |
| 2018 | $265K | $252K | $484K | $1.1M | — | View 990 |
| 2017 | $256K | $260K | $431K | $1.0M | — | View 990 |
| 2016 | $255K | $267K | $523K | $1.1M | — | View 990 |
| 2015 | $254K | $275K | $557K | $1.1M | — | View 990 |
| 2014 | $246K | $276K | $588K | $1.1M | — | View 990 |
| 2013 | $241K | $262K | $629K | $1.2M | — | View 990 |
| 2012 | $244K | $256K | $663K | $1.2M | — | View 990 |
| 2011 | $229K | $247K | $687K | $1.2M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $290K, expenses of $250K, and assets of $474K (revenue +3.4% year-over-year).
- 2022: Revenue of $280K, expenses of $249K, and assets of $464K (revenue +1.5% year-over-year).
- 2021: Revenue of $276K, expenses of $247K, and assets of $458K (revenue +0.7% year-over-year).
- 2020: Revenue of $274K, expenses of $263K, and assets of $465K (revenue +1.2% year-over-year).
- 2019: Revenue of $271K, expenses of $259K, and assets of $478K (revenue +2.3% year-over-year).
- 2018: Revenue of $265K, expenses of $252K, and assets of $484K (revenue +3.5% year-over-year).
- 2017: Revenue of $256K, expenses of $260K, and assets of $431K (revenue +0.3% year-over-year).
- 2016: Revenue of $255K, expenses of $267K, and assets of $523K (revenue +0.7% year-over-year).
- 2015: Revenue of $254K, expenses of $275K, and assets of $557K (revenue +2.9% year-over-year).
- 2014: Revenue of $246K, expenses of $276K, and assets of $588K (revenue +2.2% year-over-year).
- 2013: Revenue of $241K, expenses of $262K, and assets of $629K (revenue -1.2% year-over-year).
- 2012: Revenue of $244K, expenses of $256K, and assets of $663K (revenue +6.6% year-over-year).
- 2011: Revenue of $229K, expenses of $247K, and assets of $687K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Agape Retirement Home Inc:
Data Sources and Methodology
This transparency report for Agape Retirement Home Inc 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.