Apogaea Incorporated
Apogaea Incorporated shows strong revenue recovery and zero executive compensation, but recent liabilities raise financial stability questions.
EIN: 200970396 · Denver, CO · NTEE: A20 · Updated: 2026-03-28
Is Apogaea Incorporated Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Apogaea Incorporated directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Apogaea Incorporated
Apogaea Incorporated (EIN: 200970396) is a nonprofit organization based in Denver, CO, classified under NTEE code A20. The organization reported total revenue of $443K and total assets of $566K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Apogaea Incorporated's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Apogaea Incorporated 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 13.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $380K |
| Total Expenses | $297K |
| Surplus / Deficit | +$82K |
| Total Assets | $491K |
| Total Liabilities | $743 |
| Net Assets | $490K |
| Operating Margin | 21.7% |
| Debt-to-Asset Ratio | 0.2% |
| Months of Reserves | 19.8 months |
Financial Health Grade: A
In 2023, Apogaea Incorporated reported a surplus of $82K with revenue exceeding expenses, holds 19.8 months of operating reserves (strong position), has a debt-to-asset ratio of 0.2% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Apogaea Incorporated's revenue has grown at a compound annual growth rate (CAGR) of 13.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +55.7% | +40.0% | +20.4% |
| 2022 | +6065.1% | +628.9% | +8.4% |
| 2021 | -76.9% | -20.6% | -6.3% |
| 2020 | -91.7% | -76.7% | -4.6% |
| 2019 | +13.4% | +4.2% | +13.2% |
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 Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Apogaea Incorporated with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Apogaea Incorporated allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $82K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.2%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating a volunteer-led organization. This is highly efficient for a nonprofit of its size, ensuring all funds are directed towards its mission rather than executive salaries.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Apogaea Incorporated's IRS 990 filings:
- Significant increase in liabilities to $743,000 in 202312, exceeding assets of $491,051 for that period.
- Fluctuating revenue history, with very low revenue periods in 2015, 2020, and 2021, indicating potential instability or event-dependent income.
Strengths
The following positive indicators were identified for Apogaea Incorporated:
- Consistent 0% officer compensation, demonstrating high efficiency and dedication of resources to the mission.
- Strong recovery in revenue and assets in recent years (2022 and 2023) after a downturn.
- Generally positive net income (revenue exceeding expenses) in most operational years, indicating sound financial management.
Frequently Asked Questions about Apogaea Incorporated
Is Apogaea Incorporated a legitimate charity?
Based on AI analysis of IRS 990 filings, Apogaea Incorporated (EIN: 200970396) some concerns. Mission Score: 85/100. 2 red flags identified, 3 strengths noted.
How does Apogaea Incorporated spend its money?
Apogaea Incorporated directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Apogaea Incorporated tax-deductible?
Apogaea Incorporated is registered as a tax-exempt nonprofit (EIN: 200970396). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What caused the significant increase in liabilities to $743,000 in the 202312 filing?
The provided data does not specify the nature of these liabilities, but their sudden and substantial increase, exceeding assets, warrants further investigation into the organization's financial commitments.
How does Apogaea Incorporated manage its programs with 0% officer compensation?
The consistent 0% officer compensation suggests a strong reliance on volunteer leadership and operational staff, which is a highly efficient model for resource allocation.
What are the primary sources of revenue for Apogaea Incorporated?
The provided data only shows total revenue figures, not their sources. Given the NTEE code A20 (Arts, Culture & Humanities), it's likely a mix of event fees, donations, and potentially grants.
Filing History
IRS 990 filing history for Apogaea Incorporated showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Apogaea Incorporated's revenue has grown by 365.1%, moving from $82K to $380K. Total assets increased by 553.1% over the same period, from $75K to $491K. Total functional expenses rose by 379.5%, from $62K to $297K. In its most recent filing year (2023), Apogaea Incorporated reported a surplus of $82K, with revenue exceeding expenses. The organization holds $743 in liabilities against $491K in assets (debt-to-asset ratio: 0.2%), resulting in net assets of $490K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $380K | $297K | $491K | $743 | — | — |
| 2022 | $244K | $212K | $408K | $0 | — | View 990 |
| 2021 | $4K | $29K | $376K | $0 | — | View 990 |
| 2020 | $17K | $37K | $402K | $0 | — | View 990 |
| 2019 | $206K | $157K | $421K | $0 | — | View 990 |
| 2018 | $182K | $151K | $372K | $0 | — | View 990 |
| 2017 | $198K | $155K | $341K | $0 | — | — |
| 2016 | $310K | $149K | $326K | $28K | — | View 990 |
| 2015 | $3K | $82K | $137K | $47 | — | View 990 |
| 2014 | $223K | $155K | $217K | $0 | — | View 990 |
| 2013 | $154K | $108K | $149K | $1K | — | View 990 |
| 2012 | $100K | $73K | $102K | $439 | — | View 990 |
| 2011 | $82K | $62K | $75K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $380K, expenses of $297K, and assets of $491K (revenue +55.7% year-over-year).
- 2022: Revenue of $244K, expenses of $212K, and assets of $408K (revenue +6065.1% year-over-year).
- 2021: Revenue of $4K, expenses of $29K, and assets of $376K (revenue -76.9% year-over-year).
- 2020: Revenue of $17K, expenses of $37K, and assets of $402K (revenue -91.7% year-over-year).
- 2019: Revenue of $206K, expenses of $157K, and assets of $421K (revenue +13.4% year-over-year).
- 2018: Revenue of $182K, expenses of $151K, and assets of $372K (revenue -8.1% year-over-year).
- 2017: Revenue of $198K, expenses of $155K, and assets of $341K (revenue -36.2% year-over-year).
- 2016: Revenue of $310K, expenses of $149K, and assets of $326K (revenue +11504.0% year-over-year).
- 2015: Revenue of $3K, expenses of $82K, and assets of $137K (revenue -98.8% year-over-year).
- 2014: Revenue of $223K, expenses of $155K, and assets of $217K (revenue +44.6% year-over-year).
- 2013: Revenue of $154K, expenses of $108K, and assets of $149K (revenue +54.4% year-over-year).
- 2012: Revenue of $100K, expenses of $73K, and assets of $102K (revenue +22.4% year-over-year).
- 2011: Revenue of $82K, expenses of $62K, and assets of $75K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Apogaea Incorporated:
Data Sources and Methodology
This transparency report for Apogaea Incorporated 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.