Changing Gaits Inc
Changing Gaits Inc shows consistent operations with growing assets and liabilities, and no reported officer compensation.
EIN: 208039907 · Brook Park, MN · NTEE: F22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $311K |
| Total Expenses | $299K |
| Program Spending | 80% |
| CEO/Top Officer Pay | $300,000. |
| Net Assets | $54K |
| Transparency Score | 75/100 |
Is Changing Gaits Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Changing Gaits Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Changing Gaits Inc
Changing Gaits Inc (EIN: 208039907) is a nonprofit organization based in Brook Park, MN, classified under NTEE code F22. The organization reported total revenue of $311K and total assets of $230K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Changing Gaits Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Changing Gaits Inc 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 12.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $298K |
| Total Expenses | $299K |
| Surplus / Deficit | $-1,457 |
| Total Assets | $235K |
| Total Liabilities | $181K |
| Net Assets | $54K |
| Operating Margin | -0.5% |
| Debt-to-Asset Ratio | 76.9% |
| Months of Reserves | 9.4 months |
Financial Health Grade: C
In 2023, Changing Gaits Inc reported a deficit of $1K with expenses exceeding revenue, holds 9.4 months of operating reserves (strong position), has a debt-to-asset ratio of 76.9% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Changing Gaits Inc's revenue has grown at a compound annual growth rate (CAGR) of 12.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +0.2% | -3.4% | -6.3% |
| 2022 | -9.2% | +6.8% | -4.4% |
| 2021 | +37.9% | +21.8% | +596.7% |
| 2020 | +18.8% | +39.1% | +5.1% |
| 2019 | +5.3% | -13.3% | +186.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| 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 Changing Gaits Inc with a Mission Score of 75 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Changing Gaits Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% 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 deficit of $1K, with expenses exceeding revenue.
- Debt-to-asset ratio: 76.9%.
Executive Compensation Analysis
Changing Gaits Inc consistently reports 0% officer compensation across all available filings, suggesting a volunteer-led executive structure or that executive compensation is categorized differently, which is unusual for an organization with revenues exceeding $300,000.
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 Changing Gaits Inc's IRS 990 filings:
- Significant increase in liabilities from $6,427 in 2020 to $180,656 in 2023 without clear explanation in provided data.
- Consistent reporting of 0% officer compensation for an organization with revenues over $300,000, which may obscure true leadership costs or indicate reliance on unpaid leadership.
- Expenses frequently exceeding revenue in recent periods (e.g., 2023, 2022), indicating potential reliance on reserves or a need for improved financial planning.
Strengths
The following positive indicators were identified for Changing Gaits Inc:
- Consistent IRS 990 filing history (13 filings) demonstrates good transparency and compliance.
- Significant asset growth from $37,638 in 2020 to $234,837 in 2023, indicating an expanding resource base.
- Clear NTEE code (F22) indicating a focused mission in Recreational & Sports for Special Populations.
Frequently Asked Questions about Changing Gaits Inc
Is Changing Gaits Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Changing Gaits Inc (EIN: 208039907) some concerns. Mission Score: 75/100. 3 red flags identified, 3 strengths noted.
How does Changing Gaits Inc spend its money?
Changing Gaits Inc directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Changing Gaits Inc tax-deductible?
Changing Gaits Inc is registered as a tax-exempt nonprofit (EIN: 208039907). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Changing Gaits Inc CEO make?
Changing Gaits Inc's highest-compensated officer earns $300,000. annually. The organization reported $311K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Changing Gaits Inc's spending goes to programs?
Changing Gaits Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Changing Gaits Inc compare to similar nonprofits?
With a transparency score of 75/100 (Good), Changing Gaits Inc is above average for NTEE category F22 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Changing Gaits Inc located?
Changing Gaits Inc is headquartered in Brook Park, Minnesota and files with the IRS under EIN 208039907. It is classified under NTEE code F22.
How many years of IRS 990 filings does Changing Gaits Inc have?
Changing Gaits 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 $311K in total revenue.
Is Changing Gaits Inc financially stable given its recent expense-to-revenue ratios?
The organization's expenses have closely matched or slightly exceeded revenue in recent years (e.g., 2023 expenses $299,268 vs. revenue $297,811), indicating a tight operating margin. While not immediately alarming, sustained deficits could impact long-term stability if not offset by reserves or other funding.
What is the nature of the significant increase in liabilities from $6,427 in 2020 to $180,656 in 2023?
The substantial increase in liabilities alongside asset growth suggests potential debt financing for asset acquisition or operational needs. Understanding the specific types of liabilities (e.g., mortgages, program-related debt) is crucial for a complete financial assessment.
How does Changing Gaits Inc manage its executive leadership without reporting officer compensation?
The consistent reporting of 0% officer compensation across all filings suggests either a fully volunteer executive team or that compensation is reported under other expense categories. This practice, while not inherently negative, warrants clarification for full transparency regarding leadership costs.
Has the organization's program impact grown in proportion to its increased assets and liabilities?
While assets have grown significantly, the direct correlation to program impact isn't immediately clear from the financial data alone. Further program-specific reporting would be needed to assess if the increased financial scale translates to expanded or improved services.
Filing History
IRS 990 filing history for Changing Gaits Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Changing Gaits Inc's revenue has grown by 305.6%, moving from $73K to $298K. Total assets increased by 562.3% over the same period, from $35K to $235K. Total functional expenses rose by 336.4%, from $69K to $299K. In its most recent filing year (2023), Changing Gaits Inc reported a deficit of $1K, with expenses exceeding revenue. The organization holds $181K in liabilities against $235K in assets (debt-to-asset ratio: 76.9%), resulting in net assets of $54K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $298K | $299K | $235K | $181K | — | — |
| 2022 | $297K | $310K | $251K | $195K | — | View 990 |
| 2021 | $327K | $290K | $262K | $194K | — | View 990 |
| 2020 | $237K | $238K | $38K | $6K | — | View 990 |
| 2019 | $200K | $171K | $36K | $4K | — | View 990 |
| 2018 | $190K | $197K | $12K | $9K | — | View 990 |
| 2017 | $199K | $209K | $13K | $1K | — | View 990 |
| 2016 | $138K | $139K | $22K | $0 | — | View 990 |
| 2015 | $194K | $191K | $31K | $0 | — | View 990 |
| 2014 | $166K | $160K | $30K | $2K | — | View 990 |
| 2013 | $154K | $153K | $45K | $0 | — | View 990 |
| 2012 | $122K | $114K | $43K | $0 | — | View 990 |
| 2011 | $73K | $69K | $35K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $298K, expenses of $299K, and assets of $235K (revenue +0.2% year-over-year).
- 2022: Revenue of $297K, expenses of $310K, and assets of $251K (revenue -9.2% year-over-year).
- 2021: Revenue of $327K, expenses of $290K, and assets of $262K (revenue +37.9% year-over-year).
- 2020: Revenue of $237K, expenses of $238K, and assets of $38K (revenue +18.8% year-over-year).
- 2019: Revenue of $200K, expenses of $171K, and assets of $36K (revenue +5.3% year-over-year).
- 2018: Revenue of $190K, expenses of $197K, and assets of $12K (revenue -4.5% year-over-year).
- 2017: Revenue of $199K, expenses of $209K, and assets of $13K (revenue +44.3% year-over-year).
- 2016: Revenue of $138K, expenses of $139K, and assets of $22K (revenue -28.9% year-over-year).
- 2015: Revenue of $194K, expenses of $191K, and assets of $31K (revenue +16.8% year-over-year).
- 2014: Revenue of $166K, expenses of $160K, and assets of $30K (revenue +7.4% year-over-year).
- 2013: Revenue of $154K, expenses of $153K, and assets of $45K (revenue +26.0% year-over-year).
- 2012: Revenue of $122K, expenses of $114K, and assets of $43K (revenue +66.7% year-over-year).
- 2011: Revenue of $73K, expenses of $69K, and assets of $35K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Changing Gaits Inc:
Data Sources and Methodology
This transparency report for Changing Gaits 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.