Carpenters Square Inc
Carpenters Square Inc. faces severe financial distress with expenses exceeding revenue by over tenfold in its latest filing and a drastic decline in assets.
EIN: 202457794 · Nashville, TN · NTEE: T30 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $88K |
| Total Expenses | $950K |
| Program Spending | 70% |
| Net Assets | $-15,568 |
| Transparency Score | 30/100 |
Is Carpenters Square Inc Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Carpenters Square Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Carpenters Square Inc
Carpenters Square Inc (EIN: 202457794) is a nonprofit organization based in Nashville, TN, classified under NTEE code T30. The organization reported total revenue of $88K and total assets of $17K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Carpenters Square Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Carpenters Square Inc is a micro nonprofit that has been operating for 21 years, with 6 years of IRS 990 filings on record (2015–2020). Revenue has grown at a compound annual rate of -29.2%.
Key Financial Metrics (2020)
From the most recent IRS 990 filing on record:
| Total Revenue | $88K |
| Total Expenses | $950K |
| Surplus / Deficit | $-862,546 |
| Total Assets | $17K |
| Total Liabilities | $33K |
| Net Assets | $-15,568 |
| Operating Margin | -985.1% |
| Debt-to-Asset Ratio | 191.5% |
| Months of Reserves | 0.2 months |
Financial Health Grade: D
In 2020, Carpenters Square Inc reported a deficit of $863K with expenses exceeding revenue, holds 0.2 months of operating reserves (limited), has a debt-to-asset ratio of 191.5% (high leverage).
Financial Trends
Over 6 years of filings (2015–2020), Carpenters Square Inc's revenue has declined at a compound annual growth rate (CAGR) of -29.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2020 | -68.5% | +190.6% | -98.9% |
| 2019 | -31.4% | +0.2% | -5.6% |
| 2018 | -2.3% | +20.4% | +2.4% |
| 2017 | +19.6% | +43.9% | +3.1% |
| 2016 | -29.8% | +72.4% | -5.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2005 |
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 Square Inc with a Mission Score of 30 out of 100 (Poor). 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, Carpenters Square Inc allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2020)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $863K, with expenses exceeding revenue.
- Debt-to-asset ratio: 191.5%.
Executive Compensation Analysis
Officer compensation has consistently been reported as 0% across all available filings, suggesting that the organization's leadership may be entirely volunteer-based, which is commendable for minimizing 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 Carpenters Square Inc's IRS 990 filings:
- Expenses ($950,107) significantly exceeded revenue ($87,561) in the latest filing (202012).
- Assets drastically declined from $1,547,824 in 201912 to $17,017 in 202012.
- Liabilities ($32,585) exceed current assets ($17,017) in the latest period, indicating potential insolvency.
- Unsustainable financial model based on the latest reported figures.
Strengths
The following positive indicators were identified for Carpenters Square Inc:
- Consistent reporting of 0% officer compensation across all filings, indicating volunteer leadership.
- Historically maintained significant assets prior to the 202012 period.
Frequently Asked Questions about Carpenters Square Inc
Is Carpenters Square Inc a legitimate charity?
Carpenters Square Inc (EIN: 202457794) is a registered tax-exempt nonprofit based in Tennessee. Our AI analysis gives it a Mission Score of 30/100. It has 6 years of IRS 990 filings on record. Total revenue: $88K. 4 red flags identified. 2 strengths noted. Financial health grade: D.
How does Carpenters Square Inc spend its money?
Carpenters Square Inc directs 70% of its spending to programs and services. Fundraising costs 10%. This meets the 65% industry benchmark.
Are donations to Carpenters Square Inc tax-deductible?
Carpenters Square Inc is registered as a tax-exempt nonprofit (EIN: 202457794). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Carpenters Square Inc's spending goes to programs?
Carpenters Square Inc directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
How does Carpenters Square Inc compare to similar nonprofits?
With a transparency score of 30/100 (Poor), Carpenters Square Inc is below average for NTEE category T30 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Carpenters Square Inc located?
Carpenters Square Inc is headquartered in Nashville, Tennessee and files with the IRS under EIN 202457794. It is classified under NTEE code T30.
How many years of IRS 990 filings does Carpenters Square Inc have?
Carpenters Square Inc has 6 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 $88K in total revenue.
Is Carpenters Square Inc. financially stable?
No, Carpenters Square Inc. appears to be in severe financial distress. In the 202012 period, expenses ($950,107) were more than ten times its revenue ($87,561), and assets have plummeted from over $1.6 million to just $17,017.
What caused the significant drop in assets?
The provided data does not specify the exact cause, but assets decreased from $1,547,824 in 201912 to $17,017 in 202012. This massive reduction, coupled with high expenses, suggests significant asset liquidation or write-downs, possibly to cover operational costs or liabilities.
How does their latest financial performance compare to previous years?
The latest financial performance (202012) is a stark contrast to previous years. From 201512 to 201912, revenue generally hovered between $277,907 and $493,028, and expenses were typically lower than or comparable to revenue. The 202012 period shows an unprecedented deficit and asset decline.
Filing History
IRS 990 filing history for Carpenters Square Inc showing financial trends over 6 years of public records:
Over 6 years of IRS 990 filings (2015–2020), Carpenters Square Inc's revenue has declined by 82.2%, moving from $493K to $88K. Total assets decreased by 99% over the same period, from $1.6M to $17K. Total functional expenses rose by 769.4%, from $109K to $950K. In its most recent filing year (2020), Carpenters Square Inc reported a deficit of $863K, with expenses exceeding revenue. The organization holds $33K in liabilities against $17K in assets (debt-to-asset ratio: 191.5%), resulting in net assets of $-15,568.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2020 | $88K | $950K | $17K | $33K | — | — |
| 2019 | $278K | $327K | $1.5M | $701K | — | View 990 |
| 2018 | $405K | $326K | $1.6M | $744K | — | View 990 |
| 2017 | $414K | $271K | $1.6M | $784K | — | View 990 |
| 2016 | $346K | $188K | $1.6M | $878K | — | View 990 |
| 2015 | $493K | $109K | $1.6M | $1.1M | — | View 990 |
Year-by-Year Financial Summary
- 2020: Revenue of $88K, expenses of $950K, and assets of $17K (revenue -68.5% year-over-year).
- 2019: Revenue of $278K, expenses of $327K, and assets of $1.5M (revenue -31.4% year-over-year).
- 2018: Revenue of $405K, expenses of $326K, and assets of $1.6M (revenue -2.3% year-over-year).
- 2017: Revenue of $414K, expenses of $271K, and assets of $1.6M (revenue +19.6% year-over-year).
- 2016: Revenue of $346K, expenses of $188K, and assets of $1.6M (revenue -29.8% year-over-year).
- 2015: Revenue of $493K, expenses of $109K, and assets of $1.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Carpenters Square Inc:
Data Sources and Methodology
This transparency report for Carpenters Square 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.