Carpenters Shop Center Inc
Carpenters Shop Center Inc shows consistent revenue growth and no officer compensation over the past decade.
EIN: 202828807 · Jacksonville, FL · NTEE: P20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $635K |
| Total Expenses | $509K |
| Program Spending | 85% |
| CEO/Top Officer Pay | $600,000 |
| Net Assets | $456K |
| Transparency Score | 90/100 |
Is Carpenters Shop Center Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Carpenters Shop Center Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Carpenters Shop Center Inc
Carpenters Shop Center Inc (EIN: 202828807) is a nonprofit organization based in Jacksonville, FL, classified under NTEE code P20. The organization reported total revenue of $635K and total assets of $607K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Carpenters Shop Center Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Carpenters Shop Center Inc is a small nonprofit that has been operating for 17 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 17.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $639K |
| Total Expenses | $509K |
| Surplus / Deficit | +$130K |
| Total Assets | $538K |
| Total Liabilities | $82K |
| Net Assets | $456K |
| Operating Margin | 20.3% |
| Debt-to-Asset Ratio | 15.2% |
| Months of Reserves | 12.7 months |
Financial Health Grade: A
In 2023, Carpenters Shop Center Inc reported a surplus of $130K with revenue exceeding expenses, holds 12.7 months of operating reserves (strong position), has a debt-to-asset ratio of 15.2% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Carpenters Shop Center Inc's revenue has grown at a compound annual growth rate (CAGR) of 17.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +18.1% | -7.6% | +20.7% |
| 2022 | +11.1% | +21.0% | -0.1% |
| 2021 | +5.6% | +18.7% | -4.0% |
| 2020 | +21.6% | +8.9% | +17.3% |
| 2019 | -13.4% | +17.9% | +3.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2009 |
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 Carpenters Shop Center 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, Carpenters Shop Center 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 $130K, with revenue exceeding expenses.
- Debt-to-asset ratio: 15.2%.
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 with over $600,000 in annual revenue.
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 Carpenters Shop Center Inc's IRS 990 filings:
- Unusually low liabilities relative to assets in earlier years (e.g., $2,755 liabilities vs. $25,440 assets in 2015), which could warrant further investigation into financial structure.
- The consistent 0% officer compensation for an organization of this size is unusual and might suggest compensation is reported under a different category or that leadership is entirely volunteer, which could impact long-term sustainability if not properly managed.
Strengths
The following positive indicators were identified for Carpenters Shop Center Inc:
- Consistent and strong revenue growth, increasing from $174,491 in 2014 to $638,528 in 2023.
- Healthy asset growth, from $21,261 in 2014 to $537,658 in 2023, indicating increasing financial capacity.
- Consistent positive net income in most recent years, demonstrating financial stability and sustainability.
- Zero officer compensation reported across all filings, suggesting a high proportion of funds are directed to mission-related activities.
- Low and well-managed liabilities relative to assets, indicating a strong balance sheet.
Frequently Asked Questions about Carpenters Shop Center Inc
Is Carpenters Shop Center Inc a legitimate charity?
Carpenters Shop Center Inc (EIN: 202828807) is a registered tax-exempt nonprofit based in Florida. Our AI analysis gives it a Mission Score of 90/100. It has 13 years of IRS 990 filings on record. Total revenue: $635K. 2 red flags identified. 5 strengths noted. Financial health grade: A.
How does Carpenters Shop Center Inc spend its money?
Carpenters Shop Center Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Carpenters Shop Center Inc tax-deductible?
Carpenters Shop Center Inc is registered as a tax-exempt nonprofit (EIN: 202828807). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Carpenters Shop Center Inc CEO make?
Carpenters Shop Center Inc's highest-compensated officer earns $600,000 annually. The organization reported $635K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Carpenters Shop Center Inc's spending goes to programs?
Carpenters Shop Center Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Carpenters Shop Center Inc compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), Carpenters Shop Center Inc is above average for NTEE category P20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Carpenters Shop Center Inc located?
Carpenters Shop Center Inc is headquartered in Jacksonville, Florida and files with the IRS under EIN 202828807. It is classified under NTEE code P20.
How many years of IRS 990 filings does Carpenters Shop Center Inc have?
Carpenters Shop Center 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 $635K in total revenue.
Is Carpenters Shop Center Inc a good charity?
Based on the provided financial data, Carpenters Shop Center Inc appears to be a financially sound and well-managed charity. Its consistent revenue growth, positive net assets, and zero officer compensation are strong indicators of good stewardship and a focus on its mission.
How has Carpenters Shop Center Inc's financial health changed over time?
The organization has shown significant financial growth and improved health over the past decade. Revenue increased from $174,491 in 2014 to $638,528 in 2023, and assets grew substantially from $21,261 to $537,658 in the same period, demonstrating robust expansion and asset accumulation.
What is the significance of 0% officer compensation?
0% officer compensation is highly significant as it suggests that the organization's leadership is either entirely volunteer-based or compensated through other means not reported as officer compensation on the 990. This indicates that a very high proportion of funds are likely directed towards programs and operational costs rather than executive salaries, which is generally viewed positively for efficiency.
Filing History
IRS 990 filing history for Carpenters Shop Center Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Carpenters Shop Center Inc's revenue has grown by 555.6%, moving from $97K to $639K. Total assets increased by 2029.8% over the same period, from $25K to $538K. Total functional expenses rose by 430.3%, from $96K to $509K. In its most recent filing year (2023), Carpenters Shop Center Inc reported a surplus of $130K, with revenue exceeding expenses. The organization holds $82K in liabilities against $538K in assets (debt-to-asset ratio: 15.2%), resulting in net assets of $456K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $639K | $509K | $538K | $82K | — | — |
| 2022 | $541K | $551K | $445K | $119K | — | View 990 |
| 2021 | $487K | $455K | $446K | $109K | — | View 990 |
| 2020 | $461K | $383K | $465K | $159K | — | View 990 |
| 2019 | $379K | $352K | $396K | $169K | — | View 990 |
| 2018 | $438K | $299K | $384K | $184K | — | View 990 |
| 2017 | $274K | $230K | $262K | $201K | — | View 990 |
| 2016 | $169K | $175K | $198K | $181K | — | View 990 |
| 2015 | $186K | $180K | $25K | $3K | — | View 990 |
| 2014 | $174K | $181K | $21K | $4K | — | View 990 |
| 2013 | $140K | $141K | $27K | $3K | — | View 990 |
| 2012 | $97K | $98K | $25K | $1K | — | View 990 |
| 2011 | $97K | $96K | $25K | $632 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $639K, expenses of $509K, and assets of $538K (revenue +18.1% year-over-year).
- 2022: Revenue of $541K, expenses of $551K, and assets of $445K (revenue +11.1% year-over-year).
- 2021: Revenue of $487K, expenses of $455K, and assets of $446K (revenue +5.6% year-over-year).
- 2020: Revenue of $461K, expenses of $383K, and assets of $465K (revenue +21.6% year-over-year).
- 2019: Revenue of $379K, expenses of $352K, and assets of $396K (revenue -13.4% year-over-year).
- 2018: Revenue of $438K, expenses of $299K, and assets of $384K (revenue +59.6% year-over-year).
- 2017: Revenue of $274K, expenses of $230K, and assets of $262K (revenue +62.8% year-over-year).
- 2016: Revenue of $169K, expenses of $175K, and assets of $198K (revenue -9.1% year-over-year).
- 2015: Revenue of $186K, expenses of $180K, and assets of $25K (revenue +6.3% year-over-year).
- 2014: Revenue of $174K, expenses of $181K, and assets of $21K (revenue +24.2% year-over-year).
- 2013: Revenue of $140K, expenses of $141K, and assets of $27K (revenue +44.1% year-over-year).
- 2012: Revenue of $97K, expenses of $98K, and assets of $25K (revenue +0.1% year-over-year).
- 2011: Revenue of $97K, expenses of $96K, and assets of $25K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Carpenters Shop Center Inc:
Data Sources and Methodology
This transparency report for Carpenters Shop Center 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.