Chara Inc
Chara Inc consistently grows assets with zero liabilities and no reported officer compensation.
EIN: 205315163 · Concord, NC · NTEE: T30 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $429K |
| Total Expenses | $281K |
| Program Spending | 85% |
| Net Assets | $272K |
| Transparency Score | 90/100 |
Is Chara Inc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Chara Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Chara Inc
Chara Inc (EIN: 205315163) is a nonprofit organization based in Concord, NC, classified under NTEE code T30. The organization reported total revenue of $429K and total assets of $332K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Chara Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Chara 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 4.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $339K |
| Total Expenses | $281K |
| Surplus / Deficit | +$59K |
| Total Assets | $272K |
| Net Assets | $272K |
| Operating Margin | 17.2% |
| Months of Reserves | 11.6 months |
Financial Health Grade: A
In 2023, Chara Inc reported a surplus of $59K with revenue exceeding expenses, holds 11.6 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2011–2023), Chara Inc's revenue has grown at a compound annual growth rate (CAGR) of 4.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -16.4% | -11.0% | +4.5% |
| 2022 | +22.1% | +12.4% | +53.4% |
| 2021 | +15.0% | +7.4% | +43.5% |
| 2020 | +20.6% | -2.2% | +36.1% |
| 2019 | +12.7% | +13.7% | -24.3% |
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 Chara 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, Chara 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 $59K, with revenue exceeding expenses.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, suggesting that key officers are either volunteers or their compensation is below the IRS reporting threshold, indicating a strong commitment to directing funds towards the organization's mission rather than administrative salaries.
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.
Strengths
The following positive indicators were identified for Chara Inc:
- Consistent asset growth: Assets increased from $84,793 in 2014 to $271,942 in 2023.
- Zero liabilities: The organization consistently reports $0 in liabilities, indicating strong financial stability.
- No reported officer compensation: Officer compensation is 0% across all filings, suggesting efficient use of funds for programs.
- Positive net income: Revenue consistently exceeds expenses, contributing to asset accumulation (e.g., 2023: Revenue $339,495, Expenses $280,936).
- Strong financial transparency: 13 consistent IRS 990 filings provide a clear historical financial record.
Frequently Asked Questions about Chara Inc
Is Chara Inc a legitimate charity?
Chara Inc (EIN: 205315163) is a registered tax-exempt nonprofit based in North Carolina. Our AI analysis gives it a Mission Score of 90/100. It has 13 years of IRS 990 filings on record. Total revenue: $429K. No red flags identified. 5 strengths noted. Financial health grade: A.
How does Chara Inc spend its money?
Chara Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Chara Inc tax-deductible?
Chara Inc is registered as a tax-exempt nonprofit (EIN: 205315163). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Chara Inc's spending goes to programs?
Chara Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Chara Inc compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), Chara Inc is above average for NTEE category T30 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Chara Inc located?
Chara Inc is headquartered in Concord, North Carolina and files with the IRS under EIN 205315163. It is classified under NTEE code T30.
How many years of IRS 990 filings does Chara Inc have?
Chara 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 $429K in total revenue.
Is Chara Inc a good charity?
Based on its financial data, Chara Inc appears to be a well-managed charity. It consistently generates more revenue than expenses, has grown its assets significantly over time, and reports no liabilities. The absence of reported officer compensation is also a positive indicator of resource allocation.
How has Chara Inc's financial health changed over the last decade?
Chara Inc has shown consistent financial growth and stability over the last decade. Its revenue has generally increased, and its assets have grown from $84,793 in 2014 to $271,942 in 2023, while maintaining zero liabilities throughout this period.
What is Chara Inc's approach to executive compensation?
Chara Inc reports 0% officer compensation in all available IRS 990 filings, suggesting that its leadership is either entirely volunteer-based or compensated below the IRS reporting thresholds, which is a strong indicator of efficient resource allocation.
Filing History
IRS 990 filing history for Chara Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Chara Inc's revenue has grown by 59.6%, moving from $213K to $339K. Total assets increased by 395.8% over the same period, from $55K to $272K. Total functional expenses rose by 42.4%, from $197K to $281K. In its most recent filing year (2023), Chara Inc reported a surplus of $59K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $339K | $281K | $272K | $0 | — | View 990 |
| 2022 | $406K | $316K | $260K | $0 | — | View 990 |
| 2021 | $333K | $281K | $170K | $0 | — | — |
| 2020 | $289K | $262K | $118K | $0 | — | — |
| 2019 | $240K | $268K | $87K | $0 | — | View 990 |
| 2018 | $213K | $235K | $115K | $0 | — | View 990 |
| 2017 | $263K | $233K | $137K | $0 | — | View 990 |
| 2016 | $230K | $197K | $107K | $0 | — | View 990 |
| 2015 | $168K | $179K | $73K | $0 | — | View 990 |
| 2014 | $191K | $179K | $85K | $0 | — | View 990 |
| 2013 | $196K | $199K | $73K | $0 | — | View 990 |
| 2012 | $191K | $170K | $77K | $0 | — | View 990 |
| 2011 | $213K | $197K | $55K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $339K, expenses of $281K, and assets of $272K (revenue -16.4% year-over-year).
- 2022: Revenue of $406K, expenses of $316K, and assets of $260K (revenue +22.1% year-over-year).
- 2021: Revenue of $333K, expenses of $281K, and assets of $170K (revenue +15.0% year-over-year).
- 2020: Revenue of $289K, expenses of $262K, and assets of $118K (revenue +20.6% year-over-year).
- 2019: Revenue of $240K, expenses of $268K, and assets of $87K (revenue +12.7% year-over-year).
- 2018: Revenue of $213K, expenses of $235K, and assets of $115K (revenue -19.2% year-over-year).
- 2017: Revenue of $263K, expenses of $233K, and assets of $137K (revenue +14.3% year-over-year).
- 2016: Revenue of $230K, expenses of $197K, and assets of $107K (revenue +36.8% year-over-year).
- 2015: Revenue of $168K, expenses of $179K, and assets of $73K (revenue -11.9% year-over-year).
- 2014: Revenue of $191K, expenses of $179K, and assets of $85K (revenue -2.2% year-over-year).
- 2013: Revenue of $196K, expenses of $199K, and assets of $73K (revenue +2.2% year-over-year).
- 2012: Revenue of $191K, expenses of $170K, and assets of $77K (revenue -10.0% year-over-year).
- 2011: Revenue of $213K, expenses of $197K, and assets of $55K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Chara Inc:
Data Sources and Methodology
This transparency report for Chara 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.