Atlantic Residential Resource
Atlantic Residential Resource consistently operates at a deficit while maintaining over $1 million in assets and reporting no officer compensation.
EIN: 10518429 · Beaufort, SC · NTEE: P20 · Updated: 2026-03-27
Is Atlantic Residential Resource Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Atlantic Residential Resource directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Atlantic Residential Resource
Atlantic Residential Resource (EIN: 10518429) is a nonprofit organization based in Beaufort, SC, classified under NTEE code P20. The organization reported total revenue of $143K and total assets of $1.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Atlantic Residential Resource's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Atlantic Residential Resource with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Atlantic Residential Resource allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating a volunteer-led organization or one with extremely lean administrative costs, which is highly favorable for donor trust and efficient use of funds.
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 Atlantic Residential Resource's IRS 990 filings:
- Consistent operational deficits (e.g., $11,660 deficit in 2023, $114,785 deficit in 2022)
- Significant fluctuation in revenue year-over-year (e.g., $98,884 in 2023 vs. $46,240 in 2022)
Strengths
The following positive indicators were identified for Atlantic Residential Resource:
- Zero officer compensation reported across all filings, indicating efficient use of funds for leadership.
- Strong asset base ($1,013,190) relative to annual revenue, providing financial stability.
- Minimal to no reported liabilities in most periods, indicating a healthy balance sheet.
Frequently Asked Questions about Atlantic Residential Resource
Is Atlantic Residential Resource a legitimate charity?
Based on AI analysis of IRS 990 filings, Atlantic Residential Resource (EIN: 10518429) some concerns. Mission Score: 75/100. 2 red flags identified, 3 strengths noted.
How does Atlantic Residential Resource spend its money?
Atlantic Residential Resource directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Atlantic Residential Resource tax-deductible?
Atlantic Residential Resource is registered as a tax-exempt nonprofit (EIN: 10518429). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Atlantic Residential Resource fund its operational deficits?
The organization consistently spends more than it earns, for example, $110,544 in expenses vs. $98,884 in revenue in 2023. This suggests it may be drawing from its substantial asset base ($1,013,190) or relying on prior year surpluses, though the data doesn't specify the exact funding mechanism for these deficits.
What is the purpose of the organization's significant assets?
With assets over $1 million and an NTEE code of P20 (Housing Development, Construction & Management), it's likely these assets are tied to real estate or property holdings directly related to its mission of providing residential resources, rather than being purely investment funds.
Is the organization financially sustainable given its recurring deficits?
While the organization has substantial assets, recurring deficits (e.g., $161,025 expenses vs. $46,240 revenue in 2022) are not sustainable long-term without a strategy to increase revenue or reduce expenses, or if the assets are intended to be drawn down over time for program delivery.
Filing History
IRS 990 filing history for Atlantic Residential Resource showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Atlantic Residential Resource's revenue has grown by 229.1%, moving from $30K to $99K. Total assets increased by 37.4% over the same period, from $753K to $1.0M. Total functional expenses rose by 26.7%, from $87K to $111K. In its most recent filing year (2023), Atlantic Residential Resource reported a deficit of $12K, with expenses exceeding revenue. The organization holds $1 in liabilities against $1.0M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $1.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $99K | $111K | $1.0M | $1 | — | View 990 |
| 2022 | $46K | $161K | $968K | $1 | — | View 990 |
| 2021 | $67K | $150K | $1.3M | $1 | — | View 990 |
| 2020 | $121K | $114K | $1.3M | $1 | — | View 990 |
| 2019 | $90K | $93K | $1.2M | $0 | — | View 990 |
| 2015 | $49K | $105K | $579K | $0 | — | View 990 |
| 2014 | $64K | $102K | $635K | $0 | — | View 990 |
| 2013 | $49K | $94K | $674K | $0 | — | View 990 |
| 2012 | $32K | $66K | $718K | $0 | — | View 990 |
| 2011 | $30K | $87K | $753K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $99K, expenses of $111K, and assets of $1.0M (revenue +113.8% year-over-year).
- 2022: Revenue of $46K, expenses of $161K, and assets of $968K (revenue -31.0% year-over-year).
- 2021: Revenue of $67K, expenses of $150K, and assets of $1.3M (revenue -44.6% year-over-year).
- 2020: Revenue of $121K, expenses of $114K, and assets of $1.3M (revenue +34.5% year-over-year).
- 2019: Revenue of $90K, expenses of $93K, and assets of $1.2M (revenue +84.5% year-over-year).
- 2015: Revenue of $49K, expenses of $105K, and assets of $579K (revenue -23.4% year-over-year).
- 2014: Revenue of $64K, expenses of $102K, and assets of $635K (revenue +29.1% year-over-year).
- 2013: Revenue of $49K, expenses of $94K, and assets of $674K (revenue +54.4% year-over-year).
- 2012: Revenue of $32K, expenses of $66K, and assets of $718K (revenue +6.3% year-over-year).
- 2011: Revenue of $30K, expenses of $87K, and assets of $753K.
Data Sources and Methodology
This transparency report for Atlantic Residential Resource 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.