Chariot Riders Inc
Chariot Riders Inc: Consistent Deficits and Declining Assets Raise Concerns
EIN: 222603425 · Manchester, NJ · Updated: 2026-04-04
About Chariot Riders Inc
Chariot Riders Inc (EIN: 222603425) is a nonprofit organization based in Manchester, NJ. The organization reported total revenue of $297K and total assets of $345K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Chariot Riders Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Chariot Riders Inc with a Mission Score of 45 out of 100 (Fair). 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: 70%
- fundraising: 15%
According to IRS 990 filings, Chariot Riders Inc allocates its expenses as follows: admin: 15%, programs: 70%, fundraising: 15%. Approximately 70% goes to programs, indicating moderate mission focus.
Executive Compensation Analysis
Executive compensation cannot be assessed as no specific compensation figures are provided in the available financial data.
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 Chariot Riders Inc's IRS 990 filings:
- Consistent annual deficits: Expenses have exceeded revenue in all provided years (e.g., 2023: revenue $249,670, expenses $283,867; 2022: revenue $237,068, expenses $279,356).
- Declining net assets: Net assets have decreased from $373,179 in 2020 to $291,082 in 2023.
- High liabilities relative to assets: Liabilities ($438,352 in 2023) consistently exceed total assets ($291,082 in 2023), indicating potential financial instability.
Strengths
The following positive indicators were identified for Chariot Riders Inc:
- Long operational history: The organization has been filing financial data since at least 2016, indicating a sustained presence.
Frequently Asked Questions about Chariot Riders Inc
What does Chariot Riders Inc do?
Chariot Riders Inc is a nonprofit organization in the Unknown sector, located in Manchester, New Jersey. It is classified under NTEE code Unknown.
How much revenue does Chariot Riders Inc have?
Chariot Riders Inc reported total revenue of $297,227. Based on 14 IRS 990 filings on record.
What are Chariot Riders Inc's total assets?
Chariot Riders Inc holds total assets of $344,913 as reported in IRS 990 filings.
Where is Chariot Riders Inc located?
Chariot Riders Inc is based in Manchester, New Jersey.
What is Chariot Riders Inc's EIN?
Chariot Riders Inc's Employer Identification Number (EIN) is 222603425. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Chariot Riders Inc?
Chariot Riders Inc is classified under NTEE code Unknown (Unknown).
Is Chariot Riders Inc a registered 501(c)(3)?
Chariot Riders Inc appears in IRS records (EIN: 222603425). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Chariot Riders Inc file IRS Form 990?
Yes, Chariot Riders Inc has 14 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Chariot Riders Inc's revenue in 2023?
In the 202312 filing period, Chariot Riders Inc reported total revenue of $249,670, total expenses of $283,867, and net assets of $291,082.
Is Chariot Riders Inc's revenue growing or declining?
Chariot Riders Inc's revenue is growing. Revenue went from $237,068 (202212) to $249,670 (202312), a +5.3% change. Based on 14 filings on record.
What is Chariot Riders Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Chariot Riders Inc covers tax period 202312. It shows revenue of $249,670, expenses of $283,867, total assets of $291,082, and liabilities of $438,352.
How much does Chariot Riders Inc spend on programs vs administration?
Based on IRS 990 analysis, Chariot Riders Inc allocates approximately 70% of expenses to program services, 15% to administrative costs, and 15% to fundraising. Program spending is moderate relative to overhead.
Is Chariot Riders Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Chariot Riders Inc shows mixed signals. Mission Score: 45/100 (Fair). 3 red flags identified. 1 strength noted.
What are the red flags for Chariot Riders Inc?
The following concerns were identified: Consistent annual deficits: Expenses have exceeded revenue in all provided years (e.g., 2023: revenue $249,670, expenses $283,867; 2022: revenue $237,068, expenses $279,356).. Declining net assets: Net assets have decreased from $373,179 in 2020 to $291,082 in 2023.. High liabilities relative to assets: Liabilities ($438,352 in 2023) consistently exceed total assets ($291,082 in 2023), indicating potential financial instability.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Chariot Riders Inc's strengths?
Positive indicators for Chariot Riders Inc include: Long operational history: The organization has been filing financial data since at least 2016, indicating a sustained presence.. These findings are derived from AI analysis of the organization's financial filings.
How does Chariot Riders Inc compensate executives?
Executive compensation cannot be assessed as no specific compensation figures are provided in the available financial data. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How transparent is Chariot Riders Inc?
• Financial filings consistently show expenses exceeding revenue, leading to net deficits. • The organization's net assets have been in decline over the past several years. • No specific program details or impact metrics are readily available in the provided data. Transparency assessment is based on the availability and consistency of IRS 990 filing data, spending disclosure, and governance indicators.
Given the consistent deficits and declining net assets, what is the organization's long-term financial sustainability plan?
The provided data does not offer insights into specific strategies for addressing the recurring deficits or rebuilding net assets. The trend suggests a need for significant financial restructuring or increased revenue generation.
How does Chariot Riders Inc manage to operate with liabilities consistently exceeding assets, and what are the implications for its solvency?
Operating with liabilities significantly greater than assets (e.g., $438,352 liabilities vs. $291,082 assets in 2023) indicates a precarious financial position. This could imply reliance on short-term financing, deferred payments, or a high risk of insolvency if creditors demand immediate payment.
Filing History
IRS 990 filing history for Chariot Riders Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Chariot Riders Inc's revenue has declined by 5.4%, moving from $264K to $250K. Total assets increased by 180.7% over the same period, from $104K to $291K. Total functional expenses rose by 7.2%, from $265K to $284K. In its most recent filing year (2023), Chariot Riders Inc reported a deficit of $34K, with expenses exceeding revenue. The organization holds $438K in liabilities against $291K in assets (debt-to-asset ratio: 150.6%), resulting in net assets of $-147,270.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $250K | $284K | $291K | $438K | — | — |
| 2022 | $237K | $279K | $299K | $412K | — | View 990 |
| 2021 | $228K | $259K | $340K | $411K | — | View 990 |
| 2020 | $349K | $198K | $373K | $413K | — | View 990 |
| 2019 | $183K | $209K | $84K | $274K | — | View 990 |
| 2018 | $209K | $222K | $99K | $262K | — | View 990 |
| 2017 | $322K | $330K | $97K | $248K | — | View 990 |
| 2016 | $317K | $334K | $88K | $231K | — | View 990 |
| 2015 | $333K | $330K | $87K | $212K | — | View 990 |
| 2014 | $315K | $326K | $88K | $216K | — | View 990 |
| 2013 | $319K | $332K | $90K | $208K | — | View 990 |
| 2012 | $293K | $313K | $89K | $194K | — | View 990 |
| 2011 | $280K | $312K | $97K | $181K | — | View 990 |
| 2010 | $264K | $265K | $104K | $156K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $250K, expenses of $284K, and assets of $291K (revenue +5.3% year-over-year).
- 2022: Revenue of $237K, expenses of $279K, and assets of $299K (revenue +4.1% year-over-year).
- 2021: Revenue of $228K, expenses of $259K, and assets of $340K (revenue -34.7% year-over-year).
- 2020: Revenue of $349K, expenses of $198K, and assets of $373K (revenue +91.0% year-over-year).
- 2019: Revenue of $183K, expenses of $209K, and assets of $84K (revenue -12.6% year-over-year).
- 2018: Revenue of $209K, expenses of $222K, and assets of $99K (revenue -35.2% year-over-year).
- 2017: Revenue of $322K, expenses of $330K, and assets of $97K (revenue +1.7% year-over-year).
- 2016: Revenue of $317K, expenses of $334K, and assets of $88K (revenue -4.7% year-over-year).
- 2015: Revenue of $333K, expenses of $330K, and assets of $87K (revenue +5.4% year-over-year).
- 2014: Revenue of $315K, expenses of $326K, and assets of $88K (revenue -1.0% year-over-year).
- 2013: Revenue of $319K, expenses of $332K, and assets of $90K (revenue +8.9% year-over-year).
- 2012: Revenue of $293K, expenses of $313K, and assets of $89K (revenue +4.5% year-over-year).
- 2011: Revenue of $280K, expenses of $312K, and assets of $97K (revenue +6.1% year-over-year).
- 2010: Revenue of $264K, expenses of $265K, and assets of $104K.
Data Sources and Methodology
This transparency report for Chariot Riders 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.