Bright Beginnings Academy Inc
EIN: 820603463 · Elizabeth Cty, NC · NTEE: P33
Is Bright Beginnings Academy Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Bright Beginnings Academy Inc
Bright Beginnings Academy Inc (EIN: 820603463) is a nonprofit organization based in Elizabeth Cty, NC, classified under NTEE code P33. The organization reported total revenue of $1.7M and total assets of $538K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Bright Beginnings Academy Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Bright Beginnings Academy Inc is a mid-size nonprofit that has been operating for 9 years, with 6 years of IRS 990 filings on record (2018–2023). Revenue has grown at a compound annual rate of 17.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.5M |
| Total Expenses | $1.5M |
| Surplus / Deficit | +$5K |
| Total Assets | $697K |
| Total Liabilities | $317K |
| Net Assets | $380K |
| Operating Margin | 0.3% |
| Debt-to-Asset Ratio | 45.5% |
| Months of Reserves | 5.6 months |
Financial Health Grade: A
In 2023, Bright Beginnings Academy Inc reported a surplus of $5K with revenue exceeding expenses, holds 5.6 months of operating reserves (adequate), has a debt-to-asset ratio of 45.5% (moderate leverage).
Financial Trends
Over 6 years of filings (2018–2023), Bright Beginnings Academy Inc's revenue has grown at a compound annual growth rate (CAGR) of 17.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -17.6% | -18.6% | -3.5% |
| 2022 | +19.1% | +24.9% | -20.8% |
| 2021 | +7.9% | +15.0% | +9.2% |
| 2020 | +55.2% | +50.1% | +105.9% |
| 2019 | +36.0% | +33.4% | +4.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2017 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Bright Beginnings Academy 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 Bright Beginnings Academy 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 $5K, with revenue exceeding expenses.
- Debt-to-asset ratio: 45.5%.
Frequently Asked Questions about Bright Beginnings Academy Inc
Is Bright Beginnings Academy Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Bright Beginnings Academy Inc (EIN: 820603463) insufficient data. 0 red flags identified, 0 strengths noted.
How does Bright Beginnings Academy Inc spend its money?
Detailed spending breakdown data is not yet available for Bright Beginnings Academy Inc. Check back for updated IRS 990 analysis.
Are donations to Bright Beginnings Academy Inc tax-deductible?
Bright Beginnings Academy Inc is registered as a tax-exempt nonprofit (EIN: 820603463). 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 Bright Beginnings Academy Inc showing financial trends over 6 years of public records:
Over 6 years of IRS 990 filings (2018–2023), Bright Beginnings Academy Inc's revenue has grown by 123.7%, moving from $667K to $1.5M. Total assets increased by 79.7% over the same period, from $388K to $697K. Total functional expenses rose by 134.4%, from $635K to $1.5M. In its most recent filing year (2023), Bright Beginnings Academy Inc reported a surplus of $5K, with revenue exceeding expenses. The organization holds $317K in liabilities against $697K in assets (debt-to-asset ratio: 45.5%), resulting in net assets of $380K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.5M | $1.5M | $697K | $317K | — | — |
| 2022 | $1.8M | $1.8M | $723K | $347K | — | View 990 |
| 2021 | $1.5M | $1.5M | $912K | $466K | — | View 990 |
| 2020 | $1.4M | $1.3M | $835K | $604K | — | — |
| 2019 | $907K | $847K | $406K | $311K | — | View 990 |
| 2018 | $667K | $635K | $388K | $358K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.5M, expenses of $1.5M, and assets of $697K (revenue -17.6% year-over-year).
- 2022: Revenue of $1.8M, expenses of $1.8M, and assets of $723K (revenue +19.1% year-over-year).
- 2021: Revenue of $1.5M, expenses of $1.5M, and assets of $912K (revenue +7.9% year-over-year).
- 2020: Revenue of $1.4M, expenses of $1.3M, and assets of $835K (revenue +55.2% year-over-year).
- 2019: Revenue of $907K, expenses of $847K, and assets of $406K (revenue +36.0% year-over-year).
- 2018: Revenue of $667K, expenses of $635K, and assets of $388K.
Data Sources and Methodology
This transparency report for Bright Beginnings Academy 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.