Carousel Of Happiness Inc
Carousel Of Happiness Inc shows consistent revenue growth and strong asset accumulation with no reported officer compensation.
EIN: 203584335 · Nederland, CO · NTEE: A80 · Updated: 2026-03-28
Is Carousel Of Happiness Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Carousel Of Happiness Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Carousel Of Happiness Inc
Carousel Of Happiness Inc (EIN: 203584335) is a nonprofit organization based in Nederland, CO, classified under NTEE code A80. The organization reported total revenue of $475K and total assets of $1.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Carousel Of Happiness Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Carousel Of Happiness 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 7.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $365K |
| Total Expenses | $276K |
| Surplus / Deficit | +$88K |
| Total Assets | $1.1M |
| Total Liabilities | $6K |
| Net Assets | $1.1M |
| Operating Margin | 24.3% |
| Debt-to-Asset Ratio | 0.5% |
| Months of Reserves | 49.5 months |
Financial Health Grade: A
In 2023, Carousel Of Happiness Inc reported a surplus of $88K with revenue exceeding expenses, holds 49.5 months of operating reserves (strong position), has a debt-to-asset ratio of 0.5% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Carousel Of Happiness Inc's revenue has grown at a compound annual growth rate (CAGR) of 7.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +3.3% | -5.4% | +8.5% |
| 2022 | -2.8% | +16.5% | +6.2% |
| 2021 | +79.7% | +3.0% | +13.3% |
| 2020 | -21.8% | +5.4% | -4.6% |
| 2019 | +20.0% | +20.1% | +2.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| 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 Carousel Of Happiness Inc with a Mission Score of 90 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: 85%
- fundraising: 5%
According to IRS 990 filings, Carousel Of Happiness Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% 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 $88K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.5%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers or key employees receive salaries from the organization, which is highly unusual for an organization of this size and asset base ($1.2 million).
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 Carousel Of Happiness Inc's IRS 990 filings:
- Unusually low reported liabilities, which could potentially mask certain operational costs if not fully disclosed.
- 0% officer compensation across all filings is highly unusual for an organization with over $1 million in assets and could indicate reliance on volunteer leadership or other compensation structures not captured in this line item.
Strengths
The following positive indicators were identified for Carousel Of Happiness Inc:
- Consistent revenue growth over the past decade, demonstrating increasing support and financial viability.
- Strong and growing asset base, indicating good financial management and long-term stability.
- Extremely low liabilities, suggesting minimal debt and strong financial health.
- Reported 0% officer compensation, implying a high dedication of resources directly to programs and operations.
- Positive net income in most recent years, allowing for asset accumulation and future investment in mission.
Frequently Asked Questions about Carousel Of Happiness Inc
Is Carousel Of Happiness Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Carousel Of Happiness Inc (EIN: 203584335) some concerns. Mission Score: 90/100. 2 red flags identified, 5 strengths noted.
How does Carousel Of Happiness Inc spend its money?
Carousel Of Happiness Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Carousel Of Happiness Inc tax-deductible?
Carousel Of Happiness Inc is registered as a tax-exempt nonprofit (EIN: 203584335). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Carousel Of Happiness Inc a good charity?
Based on the financial data, Carousel Of Happiness Inc appears to be a very good charity. It demonstrates consistent revenue growth, strong asset accumulation, and exceptionally low liabilities. The reported 0% officer compensation across all filings is a significant positive, suggesting that resources are heavily directed towards its mission.
How has the organization's revenue trended over time?
The organization's revenue has shown a strong upward trend, increasing from $148,938 in 2014 to $364,738 in 2023, with the latest reported revenue at $475,324. This indicates healthy and growing financial support.
What is the organization's asset-to-liability ratio?
Carousel Of Happiness Inc maintains a very strong asset-to-liability ratio. In 2023, assets were $1,138,642 against liabilities of $5,760, indicating a highly solvent and financially stable organization with minimal debt.
Filing History
IRS 990 filing history for Carousel Of Happiness Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Carousel Of Happiness Inc's revenue has grown by 132.1%, moving from $157K to $365K. Total assets increased by 11% over the same period, from $1.0M to $1.1M. Total functional expenses rose by 43%, from $193K to $276K. In its most recent filing year (2023), Carousel Of Happiness Inc reported a surplus of $88K, with revenue exceeding expenses. The organization holds $6K in liabilities against $1.1M in assets (debt-to-asset ratio: 0.5%), resulting in net assets of $1.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $365K | $276K | $1.1M | $6K | — | — |
| 2022 | $353K | $292K | $1.0M | $5K | — | View 990 |
| 2021 | $363K | $251K | $988K | $5K | — | View 990 |
| 2020 | $202K | $243K | $872K | $2K | — | View 990 |
| 2019 | $258K | $231K | $914K | $4K | — | View 990 |
| 2018 | $215K | $192K | $894K | $11K | — | View 990 |
| 2017 | $183K | $217K | $870K | $9K | — | View 990 |
| 2016 | $186K | $219K | $901K | $6K | — | View 990 |
| 2015 | $182K | $207K | $931K | $3K | — | View 990 |
| 2014 | $149K | $181K | $955K | $2K | — | View 990 |
| 2013 | $147K | $161K | $987K | $2K | — | View 990 |
| 2012 | $159K | $155K | $1.0M | $30K | — | View 990 |
| 2011 | $157K | $193K | $1.0M | $31K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $365K, expenses of $276K, and assets of $1.1M (revenue +3.3% year-over-year).
- 2022: Revenue of $353K, expenses of $292K, and assets of $1.0M (revenue -2.8% year-over-year).
- 2021: Revenue of $363K, expenses of $251K, and assets of $988K (revenue +79.7% year-over-year).
- 2020: Revenue of $202K, expenses of $243K, and assets of $872K (revenue -21.8% year-over-year).
- 2019: Revenue of $258K, expenses of $231K, and assets of $914K (revenue +20.0% year-over-year).
- 2018: Revenue of $215K, expenses of $192K, and assets of $894K (revenue +17.6% year-over-year).
- 2017: Revenue of $183K, expenses of $217K, and assets of $870K (revenue -1.6% year-over-year).
- 2016: Revenue of $186K, expenses of $219K, and assets of $901K (revenue +1.9% year-over-year).
- 2015: Revenue of $182K, expenses of $207K, and assets of $931K (revenue +22.5% year-over-year).
- 2014: Revenue of $149K, expenses of $181K, and assets of $955K (revenue +1.4% year-over-year).
- 2013: Revenue of $147K, expenses of $161K, and assets of $987K (revenue -7.7% year-over-year).
- 2012: Revenue of $159K, expenses of $155K, and assets of $1.0M (revenue +1.3% year-over-year).
- 2011: Revenue of $157K, expenses of $193K, and assets of $1.0M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Carousel Of Happiness Inc:
Data Sources and Methodology
This transparency report for Carousel Of Happiness 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.