Canopy Scholars
Canopy Scholars faces financial instability with expenses exceeding revenue in recent periods and minimal assets.
EIN: 205118203 · Shoreline, WA · NTEE: E99 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $196K |
| Total Expenses | $187K |
| Program Spending | 70% |
| Net Assets | $-13,718 |
| Transparency Score | 60/100 |
Is Canopy Scholars Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Canopy Scholars directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Canopy Scholars
Canopy Scholars (EIN: 205118203) is a nonprofit organization based in Shoreline, WA, classified under NTEE code E99. The organization reported total revenue of $196K and total assets of $5K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Canopy Scholars's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Canopy Scholars is a small nonprofit that has been operating for 19 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 14.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $140K |
| Total Expenses | $187K |
| Surplus / Deficit | $-46,621 |
| Total Assets | $3K |
| Total Liabilities | $17K |
| Net Assets | $-13,718 |
| Operating Margin | -33.3% |
| Debt-to-Asset Ratio | 535.8% |
| Months of Reserves | 0.2 months |
Financial Health Grade: D
In 2023, Canopy Scholars reported a deficit of $47K with expenses exceeding revenue, holds 0.2 months of operating reserves (limited), has a debt-to-asset ratio of 535.8% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Canopy Scholars's revenue has grown at a compound annual growth rate (CAGR) of 14.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -23.7% | +6.2% | -93.7% |
| 2022 | +18.5% | +33.0% | +56.8% |
| 2021 | +0.8% | -11.6% | +1.5% |
| 2020 | +31.0% | +22.9% | +49.4% |
| 2019 | +29.9% | +14.3% | +59.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2007 |
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 Canopy Scholars with a Mission Score of 60 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: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Canopy Scholars allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $47K, with expenses exceeding revenue.
- Debt-to-asset ratio: 535.8%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that officers are either unpaid volunteers or receive compensation below reporting thresholds, which is positive for minimizing administrative overhead.
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 Canopy Scholars's IRS 990 filings:
- Expenses exceeded revenue in the most recent filing (202312) by $46,621.
- Assets decreased significantly from $49,816 in 202212 to $3,148 in 202312, indicating a very low reserve.
- The organization has operated at a deficit in multiple periods (e.g., 202312, 201912, 201812, 201512), raising concerns about long-term sustainability.
- Liabilities ($16,866 in 202312) are significantly higher than assets ($3,148) in the latest filing.
Strengths
The following positive indicators were identified for Canopy Scholars:
- Consistent IRS 990 filing history (13 filings) demonstrates transparency.
- 0% officer compensation reported across all filings indicates a commitment to minimizing executive overhead.
- Revenue has shown a general upward trend over the past decade, from $50,268 in 201412 to $139,926 in 202312.
Frequently Asked Questions about Canopy Scholars
Is Canopy Scholars a legitimate charity?
Canopy Scholars (EIN: 205118203) is a registered tax-exempt nonprofit based in Washington. Our AI analysis gives it a Mission Score of 60/100. It has 13 years of IRS 990 filings on record. Total revenue: $196K. 4 red flags identified. 3 strengths noted. Financial health grade: D.
How does Canopy Scholars spend its money?
Canopy Scholars directs 70% of its spending to programs and services. Fundraising costs 10%. This meets the 65% industry benchmark.
Are donations to Canopy Scholars tax-deductible?
Canopy Scholars is registered as a tax-exempt nonprofit (EIN: 205118203). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Canopy Scholars's spending goes to programs?
Canopy Scholars directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
How does Canopy Scholars compare to similar nonprofits?
With a transparency score of 60/100 (Good), Canopy Scholars is above average for NTEE category E99 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Canopy Scholars located?
Canopy Scholars is headquartered in Shoreline, Washington and files with the IRS under EIN 205118203. It is classified under NTEE code E99.
How many years of IRS 990 filings does Canopy Scholars have?
Canopy Scholars 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 $196K in total revenue.
Is Canopy Scholars financially stable?
Based on the 202312 filing, Canopy Scholars is not financially stable, with expenses ($186,547) significantly exceeding revenue ($139,926) and a very low asset base of $3,148. This trend of operating at a deficit has occurred in multiple years.
How does Canopy Scholars manage its overhead?
The organization reports 0% officer compensation across all filings, suggesting a strong commitment to minimizing executive overhead. However, a full breakdown of administrative and fundraising costs is needed for a complete assessment of overall overhead efficiency.
What is the trend in Canopy Scholars' revenue?
Canopy Scholars' revenue has shown growth over the years, from $50,268 in 201412 to $139,926 in 202312, with a peak of $183,360 in 202212. However, this growth is not always consistent, and revenue has declined from its peak in the latest period.
Why are Canopy Scholars' assets so low?
The organization's assets have fluctuated significantly, dropping from $49,816 in 202212 to $3,148 in 202312. This low asset base, especially relative to annual expenses, suggests limited reserves to cover future operations or unexpected costs.
Filing History
IRS 990 filing history for Canopy Scholars showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Canopy Scholars's revenue has grown by 383.6%, moving from $29K to $140K. Total assets decreased by 67.9% over the same period, from $10K to $3K. Total functional expenses rose by 440.5%, from $35K to $187K. In its most recent filing year (2023), Canopy Scholars reported a deficit of $47K, with expenses exceeding revenue. The organization holds $17K in liabilities against $3K in assets (debt-to-asset ratio: 535.8%), resulting in net assets of $-13,718.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $140K | $187K | $3K | $17K | — | — |
| 2022 | $183K | $176K | $50K | $17K | — | View 990 |
| 2021 | $155K | $132K | $32K | $7K | — | View 990 |
| 2020 | $153K | $149K | $31K | $29K | — | — |
| 2019 | $117K | $121K | $21K | $22K | — | View 990 |
| 2018 | $90K | $106K | $13K | $10K | — | View 990 |
| 2017 | $108K | $107K | $32K | $13K | — | View 990 |
| 2016 | $68K | $63K | $28K | $10K | — | View 990 |
| 2015 | $58K | $68K | $25K | $12K | — | View 990 |
| 2014 | $50K | $40K | $24K | $1K | — | View 990 |
| 2013 | $47K | $40K | $14K | $885 | — | View 990 |
| 2012 | $27K | $30K | $7K | $579 | — | View 990 |
| 2011 | $29K | $35K | $10K | $143 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $140K, expenses of $187K, and assets of $3K (revenue -23.7% year-over-year).
- 2022: Revenue of $183K, expenses of $176K, and assets of $50K (revenue +18.5% year-over-year).
- 2021: Revenue of $155K, expenses of $132K, and assets of $32K (revenue +0.8% year-over-year).
- 2020: Revenue of $153K, expenses of $149K, and assets of $31K (revenue +31.0% year-over-year).
- 2019: Revenue of $117K, expenses of $121K, and assets of $21K (revenue +29.9% year-over-year).
- 2018: Revenue of $90K, expenses of $106K, and assets of $13K (revenue -16.4% year-over-year).
- 2017: Revenue of $108K, expenses of $107K, and assets of $32K (revenue +58.1% year-over-year).
- 2016: Revenue of $68K, expenses of $63K, and assets of $28K (revenue +18.0% year-over-year).
- 2015: Revenue of $58K, expenses of $68K, and assets of $25K (revenue +15.0% year-over-year).
- 2014: Revenue of $50K, expenses of $40K, and assets of $24K (revenue +6.4% year-over-year).
- 2013: Revenue of $47K, expenses of $40K, and assets of $14K (revenue +75.4% year-over-year).
- 2012: Revenue of $27K, expenses of $30K, and assets of $7K (revenue -6.9% year-over-year).
- 2011: Revenue of $29K, expenses of $35K, and assets of $10K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Canopy Scholars:
Data Sources and Methodology
This transparency report for Canopy Scholars 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.