Chase Academy Inc
Chase Academy Inc. shows revenue growth but faces persistent negative net assets due to high liabilities.
EIN: 204723241 · South Daytona, FL · NTEE: B28 · Updated: 2026-03-28
Is Chase Academy Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Chase Academy Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Chase Academy Inc
Chase Academy Inc (EIN: 204723241) is a nonprofit organization based in South Daytona, FL, classified under NTEE code B28. The organization reported total revenue of $878K and total assets of $172K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Chase Academy Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Chase Academy Inc is a small nonprofit that has been operating for 18 years, with 13 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 10.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $859K |
| Total Expenses | $803K |
| Surplus / Deficit | +$56K |
| Total Assets | $139K |
| Total Liabilities | $243K |
| Net Assets | $-104,278 |
| Operating Margin | 6.6% |
| Debt-to-Asset Ratio | 175.1% |
| Months of Reserves | 2.1 months |
Financial Health Grade: B
In 2023, Chase Academy Inc reported a surplus of $56K with revenue exceeding expenses, holds 2.1 months of operating reserves (limited), has a debt-to-asset ratio of 175.1% (high leverage).
Financial Trends
Over 13 years of filings (2010–2023), Chase Academy Inc's revenue has grown at a compound annual growth rate (CAGR) of 10.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +6.2% | +21.0% | +38.1% |
| 2022 | +10.2% | -6.5% | +24.7% |
| 2021 | +1.9% | -8.2% | -71.3% |
| 2020 | +88.3% | +78.8% | +2231.5% |
| 2019 | -42.4% | -34.7% | -84.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2008 |
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 Chase Academy Inc with a Mission Score of 65 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, Chase Academy 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 surplus of $56K, with revenue exceeding expenses.
- Debt-to-asset ratio: 175.1%.
Executive Compensation Analysis
Executive compensation is reported at 0% across all available filings, indicating that no salaries were paid to officers, directors, or trustees. This suggests a volunteer-led or very lean leadership structure, which can be a positive for resource allocation.
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 Chase Academy Inc's IRS 990 filings:
- Consistent negative net assets (liabilities exceeding assets) in recent years, e.g., 202306 liabilities ($243,056) vs. assets ($138,778).
- Expenses occasionally exceeding revenue, as seen in 202006 ($772,632 expenses vs. $720,257 revenue), indicating potential operational deficits.
Strengths
The following positive indicators were identified for Chase Academy Inc:
- Consistent revenue growth over the past decade, from $204,385 in 201312 to $878,153 currently.
- 0% officer compensation reported across all filings, suggesting efficient use of funds for mission-related activities.
- Positive net income in the latest two periods (202306 and 202206), indicating improved operational performance recently.
Frequently Asked Questions about Chase Academy Inc
Is Chase Academy Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Chase Academy Inc (EIN: 204723241) some concerns. Mission Score: 65/100. 2 red flags identified, 3 strengths noted.
How does Chase Academy Inc spend its money?
Chase Academy Inc directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Chase Academy Inc tax-deductible?
Chase Academy Inc is registered as a tax-exempt nonprofit (EIN: 204723241). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Chase Academy Inc. financially stable given its liabilities?
The organization's financial stability is questionable due to liabilities consistently exceeding assets in recent years. For example, in 202306, liabilities were $243,056 against assets of $138,778, indicating a negative net asset position. This trend warrants further investigation into the nature of these liabilities and the organization's ability to meet its obligations.
How does Chase Academy Inc. manage its expenses relative to revenue?
While revenue has grown, expenses have often been close to or exceeded revenue in several periods (e.g., 202006 expenses of $772,632 against revenue of $720,257). This suggests tight operating margins and a potential reliance on prior period surpluses or external funding to cover shortfalls, though the latest period (202306) shows a surplus of $56,307.
What is the significance of 0% officer compensation?
0% officer compensation across all filings indicates that the organization's leadership is either entirely volunteer-based or compensated through other means not classified as officer compensation. This can be a strength, as it means more funds are available for programs, but it also raises questions about the sustainability of leadership without direct compensation.
Filing History
IRS 990 filing history for Chase Academy Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2010–2023), Chase Academy Inc's revenue has grown by 268.1%, moving from $233K to $859K. Total functional expenses rose by 206.1%, from $262K to $803K. In its most recent filing year (2023), Chase Academy Inc reported a surplus of $56K, with revenue exceeding expenses. The organization holds $243K in liabilities against $139K in assets (debt-to-asset ratio: 175.1%), resulting in net assets of $-104,278.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $859K | $803K | $139K | $243K | — | — |
| 2022 | $809K | $663K | $100K | $260K | — | View 990 |
| 2021 | $734K | $710K | $81K | $391K | — | View 990 |
| 2020 | $720K | $773K | $281K | $230K | — | View 990 |
| 2019 | $383K | $432K | $12K | $225K | — | View 990 |
| 2017 | $664K | $662K | $78K | $78K | — | View 990 |
| 2016 | $459K | $391K | $76K | $76K | — | View 990 |
| 2015 | $233K | $291K | $44K | $44K | — | View 990 |
| 2014 | $256K | $303K | $61K | $61K | — | View 990 |
| 2013 | $204K | $261K | $1 | $0 | — | View 990 |
| 2012 | $0 | $0 | $0 | $0 | — | View 990 |
| 2011 | $359K | $400K | $1 | $0 | — | View 990 |
| 2010 | $233K | $262K | $0 | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $859K, expenses of $803K, and assets of $139K (revenue +6.2% year-over-year).
- 2022: Revenue of $809K, expenses of $663K, and assets of $100K (revenue +10.2% year-over-year).
- 2021: Revenue of $734K, expenses of $710K, and assets of $81K (revenue +1.9% year-over-year).
- 2020: Revenue of $720K, expenses of $773K, and assets of $281K (revenue +88.3% year-over-year).
- 2019: Revenue of $383K, expenses of $432K, and assets of $12K (revenue -42.4% year-over-year).
- 2017: Revenue of $664K, expenses of $662K, and assets of $78K (revenue +44.6% year-over-year).
- 2016: Revenue of $459K, expenses of $391K, and assets of $76K (revenue +96.8% year-over-year).
- 2015: Revenue of $233K, expenses of $291K, and assets of $44K (revenue -8.9% year-over-year).
- 2014: Revenue of $256K, expenses of $303K, and assets of $61K (revenue +25.3% year-over-year).
- 2013: Revenue of $204K, expenses of $261K, and assets of $1.
- 2012: Revenue of $0, expenses of $0, and assets of $0 (revenue -100.0% year-over-year).
- 2011: Revenue of $359K, expenses of $400K, and assets of $1 (revenue +53.6% year-over-year).
- 2010: Revenue of $233K, expenses of $262K, and assets of $0.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Chase Academy Inc:
Data Sources and Methodology
This transparency report for Chase Academy 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.