Cardinal Properties Inc
Cardinal Properties Inc. faces persistent operating deficits and declining assets, with liabilities consistently exceeding assets.
EIN: 201872207 · Muncie, IN · NTEE: T20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $550K |
| Total Expenses | $973K |
| Program Spending | 70% |
| Net Assets | $-3,475,530 |
| Transparency Score | 45/100 |
Is Cardinal Properties Inc Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Cardinal Properties Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Cardinal Properties Inc
Cardinal Properties Inc (EIN: 201872207) is a nonprofit organization based in Muncie, IN, classified under NTEE code T20. The organization reported total revenue of $550K and total assets of $6.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Cardinal Properties Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Cardinal Properties Inc is a small nonprofit that has been operating for 20 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 4.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $731K |
| Total Expenses | $973K |
| Surplus / Deficit | $-241,046 |
| Total Assets | $6.6M |
| Total Liabilities | $10.1M |
| Net Assets | $-3,475,530 |
| Operating Margin | -33.0% |
| Debt-to-Asset Ratio | 152.7% |
| Months of Reserves | 81.4 months |
Financial Health Grade: C
In 2023, Cardinal Properties Inc reported a deficit of $241K with expenses exceeding revenue, holds 81.4 months of operating reserves (strong position), has a debt-to-asset ratio of 152.7% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Cardinal Properties Inc's revenue has grown at a compound annual growth rate (CAGR) of 4.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +113.0% | -18.1% | -4.4% |
| 2022 | -56.6% | +39.6% | -11.8% |
| 2020 | -142.9% | +154.2% | -35.9% |
| 2019 | +711.4% | +17.7% | +34.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2006 |
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 Cardinal Properties Inc with a Mission Score of 45 out of 100 (Fair). 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, Cardinal Properties Inc 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 $241K, with expenses exceeding revenue.
- Debt-to-asset ratio: 152.7%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that officers are not receiving salaries, which is a positive sign for resource allocation relative to the organization's size and mission.
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 Cardinal Properties Inc's IRS 990 filings:
- Consistent operating deficits (expenses exceeding revenue in multiple years, e.g., 2023, 2022, 2021, 2020, 2018, 2017, 2016, 2014).
- Declining asset base from $12,354,691 in 2019 to $6,596,729 in 2023.
- Liabilities consistently exceed assets, indicating a potentially precarious financial position (e.g., $10,072,259 liabilities vs. $6,596,729 assets in 2023).
- Significant negative revenue reported in 2020 ($-2,127,613), which is highly unusual and unexplained by the provided data.
Strengths
The following positive indicators were identified for Cardinal Properties Inc:
- 0% officer compensation reported across all filings, indicating no executive salaries are being paid.
- Long filing history (13 filings) suggests consistent compliance with IRS reporting requirements.
Frequently Asked Questions about Cardinal Properties Inc
Is Cardinal Properties Inc a legitimate charity?
Cardinal Properties Inc (EIN: 201872207) is a registered tax-exempt nonprofit based in Indiana. Our AI analysis gives it a Mission Score of 45/100. It has 13 years of IRS 990 filings on record. Total revenue: $550K. 4 red flags identified. 2 strengths noted. Financial health grade: C.
How does Cardinal Properties Inc spend its money?
Cardinal Properties Inc directs 70% of its spending to programs and services. Fundraising costs 10%. This meets the 65% industry benchmark.
Are donations to Cardinal Properties Inc tax-deductible?
Cardinal Properties Inc is registered as a tax-exempt nonprofit (EIN: 201872207). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Cardinal Properties Inc's spending goes to programs?
Cardinal Properties Inc directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
How does Cardinal Properties Inc compare to similar nonprofits?
With a transparency score of 45/100 (Fair), Cardinal Properties Inc is near average for NTEE category T20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Cardinal Properties Inc located?
Cardinal Properties Inc is headquartered in Muncie, Indiana and files with the IRS under EIN 201872207. It is classified under NTEE code T20.
How many years of IRS 990 filings does Cardinal Properties Inc have?
Cardinal Properties Inc 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 $550K in total revenue.
Is Cardinal Properties Inc. financially sustainable given its consistent operating deficits?
The organization has consistently reported expenses exceeding revenue in recent years (e.g., $972,517 expenses vs. $731,471 revenue in 2023), raising concerns about its long-term financial sustainability without significant changes in revenue generation or expense management.
What is the plan to address the declining asset base and high liabilities?
Assets have decreased from $12,354,691 in 2019 to $6,596,729 in 2023, while liabilities remain high (e.g., $10,072,259 in 2023), indicating a need for a clear strategy to improve the balance sheet.
How are funds allocated between program services, administrative costs, and fundraising efforts?
Without a detailed breakdown of expenses beyond total expenses, it is difficult to precisely determine the allocation. However, given the NTEE code T20 (housing/shelter), a significant portion should ideally be directed towards program services.
What caused the significant negative revenue reported in 2020?
In 2020, the organization reported a revenue of $-2,127,613, which is an unusual and significant event that warrants further investigation to understand its nature and impact.
Filing History
IRS 990 filing history for Cardinal Properties Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Cardinal Properties Inc's revenue has grown by 66.2%, moving from $440K to $731K. Total assets increased by 28.3% over the same period, from $5.1M to $6.6M. Total functional expenses rose by 3%, from $945K to $973K. In its most recent filing year (2023), Cardinal Properties Inc reported a deficit of $241K, with expenses exceeding revenue. The organization holds $10.1M in liabilities against $6.6M in assets (debt-to-asset ratio: 152.7%), resulting in net assets of $-3,475,530.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $731K | $973K | $6.6M | $10.1M | — | View 990 |
| 2022 | $343K | $1.2M | $6.9M | $10.1M | — | View 990 |
| 2021 | $791K | $851K | $7.8M | $10.3M | — | View 990 |
| 2020 | $-2,127,613 | $2.2M | $7.9M | $10.2M | — | View 990 |
| 2019 | $5.0M | $868K | $12.4M | $10.3M | — | View 990 |
| 2018 | $612K | $737K | $9.2M | $11.2M | — | View 990 |
| 2017 | $651K | $791K | $9.0M | $10.9M | — | View 990 |
| 2016 | $1.1M | $1.4M | $10.0M | $11.8M | — | View 990 |
| 2015 | $1.5M | $1.1M | $9.2M | $10.6M | — | View 990 |
| 2014 | $1.0M | $1.6M | $10.3M | $12.1M | — | View 990 |
| 2013 | $592K | $1.0M | $8.8M | $10.0M | — | View 990 |
| 2012 | $631K | $1.9M | $5.5M | $6.3M | — | View 990 |
| 2011 | $440K | $945K | $5.1M | $4.6M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $731K, expenses of $973K, and assets of $6.6M (revenue +113.0% year-over-year).
- 2022: Revenue of $343K, expenses of $1.2M, and assets of $6.9M (revenue -56.6% year-over-year).
- 2021: Revenue of $791K, expenses of $851K, and assets of $7.8M.
- 2020: Revenue of $-2,127,613, expenses of $2.2M, and assets of $7.9M (revenue -142.9% year-over-year).
- 2019: Revenue of $5.0M, expenses of $868K, and assets of $12.4M (revenue +711.4% year-over-year).
- 2018: Revenue of $612K, expenses of $737K, and assets of $9.2M (revenue -6.0% year-over-year).
- 2017: Revenue of $651K, expenses of $791K, and assets of $9.0M (revenue -38.3% year-over-year).
- 2016: Revenue of $1.1M, expenses of $1.4M, and assets of $10.0M (revenue -29.8% year-over-year).
- 2015: Revenue of $1.5M, expenses of $1.1M, and assets of $9.2M (revenue +48.7% year-over-year).
- 2014: Revenue of $1.0M, expenses of $1.6M, and assets of $10.3M (revenue +70.4% year-over-year).
- 2013: Revenue of $592K, expenses of $1.0M, and assets of $8.8M (revenue -6.2% year-over-year).
- 2012: Revenue of $631K, expenses of $1.9M, and assets of $5.5M (revenue +43.5% year-over-year).
- 2011: Revenue of $440K, expenses of $945K, and assets of $5.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Cardinal Properties Inc:
Data Sources and Methodology
This transparency report for Cardinal Properties 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.