Cherryville Area Ministries And Thrift Shop
EIN: 561002225 · Cherryville, NC · NTEE: P29Z
Is Cherryville Area Ministries And Thrift Shop Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Cherryville Area Ministries And Thrift Shop
Cherryville Area Ministries And Thrift Shop (EIN: 561002225) is a nonprofit organization based in Cherryville, NC, classified under NTEE code P29Z. The organization reported total revenue of $432K and total assets of $768K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Cherryville Area Ministries And Thrift Shop's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Cherryville Area Ministries And Thrift Shop is a small nonprofit that has been operating for 49 years, with 12 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of -2.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $363K |
| Total Expenses | $295K |
| Surplus / Deficit | +$67K |
| Total Assets | $546K |
| Total Liabilities | $18K |
| Net Assets | $528K |
| Operating Margin | 18.5% |
| Debt-to-Asset Ratio | 3.3% |
| Months of Reserves | 22.2 months |
Financial Health Grade: A
In 2023, Cherryville Area Ministries And Thrift Shop reported a surplus of $67K with revenue exceeding expenses, holds 22.2 months of operating reserves (strong position), has a debt-to-asset ratio of 3.3% (very low leverage).
Financial Trends
Over 12 years of filings (2012–2023), Cherryville Area Ministries And Thrift Shop's revenue has declined at a compound annual growth rate (CAGR) of -2.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +9.0% | -6.0% | +15.5% |
| 2022 | +0.3% | +4.9% | +4.0% |
| 2021 | +12.0% | +5.1% | +8.7% |
| 2020 | -7.9% | -10.4% | +2.2% |
| 2019 | -3.7% | +4.8% | -0.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1977 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Cherryville Area Ministries And Thrift Shop has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Cherryville Area Ministries And Thrift Shop with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $67K, with revenue exceeding expenses.
- Debt-to-asset ratio: 3.3%.
Frequently Asked Questions about Cherryville Area Ministries And Thrift Shop
Is Cherryville Area Ministries And Thrift Shop a legitimate charity?
Based on AI analysis of IRS 990 filings, Cherryville Area Ministries And Thrift Shop (EIN: 561002225) insufficient data. 0 red flags identified, 0 strengths noted.
How does Cherryville Area Ministries And Thrift Shop spend its money?
Detailed spending breakdown data is not yet available for Cherryville Area Ministries And Thrift Shop. Check back for updated IRS 990 analysis.
Are donations to Cherryville Area Ministries And Thrift Shop tax-deductible?
Cherryville Area Ministries And Thrift Shop is registered as a tax-exempt nonprofit (EIN: 561002225). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Filing History
IRS 990 filing history for Cherryville Area Ministries And Thrift Shop showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2023), Cherryville Area Ministries And Thrift Shop's revenue has declined by 25.7%, moving from $488K to $363K. Total assets increased by 156.1% over the same period, from $213K to $546K. Total functional expenses fell by 36.7%, from $467K to $295K. In its most recent filing year (2023), Cherryville Area Ministries And Thrift Shop reported a surplus of $67K, with revenue exceeding expenses. The organization holds $18K in liabilities against $546K in assets (debt-to-asset ratio: 3.3%), resulting in net assets of $528K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $363K | $295K | $546K | $18K | — | View 990 |
| 2022 | $333K | $314K | $473K | $12K | — | View 990 |
| 2021 | $332K | $300K | $455K | $12K | — | — |
| 2020 | $296K | $285K | $418K | $8K | — | View 990 |
| 2019 | $321K | $318K | $409K | $10K | — | View 990 |
| 2018 | $334K | $304K | $410K | $13K | — | View 990 |
| 2017 | $339K | $269K | $377K | $10K | — | View 990 |
| 2016 | $325K | $279K | $319K | $4K | — | View 990 |
| 2015 | $307K | $311K | $281K | $7K | — | View 990 |
| 2014 | $571K | $553K | $277K | $12K | — | View 990 |
| 2013 | $556K | $513K | $255K | $7K | — | View 990 |
| 2012 | $488K | $467K | $213K | $9K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $363K, expenses of $295K, and assets of $546K (revenue +9.0% year-over-year).
- 2022: Revenue of $333K, expenses of $314K, and assets of $473K (revenue +0.3% year-over-year).
- 2021: Revenue of $332K, expenses of $300K, and assets of $455K (revenue +12.0% year-over-year).
- 2020: Revenue of $296K, expenses of $285K, and assets of $418K (revenue -7.9% year-over-year).
- 2019: Revenue of $321K, expenses of $318K, and assets of $409K (revenue -3.7% year-over-year).
- 2018: Revenue of $334K, expenses of $304K, and assets of $410K (revenue -1.7% year-over-year).
- 2017: Revenue of $339K, expenses of $269K, and assets of $377K (revenue +4.3% year-over-year).
- 2016: Revenue of $325K, expenses of $279K, and assets of $319K (revenue +5.8% year-over-year).
- 2015: Revenue of $307K, expenses of $311K, and assets of $281K (revenue -46.2% year-over-year).
- 2014: Revenue of $571K, expenses of $553K, and assets of $277K (revenue +2.7% year-over-year).
- 2013: Revenue of $556K, expenses of $513K, and assets of $255K (revenue +14.0% year-over-year).
- 2012: Revenue of $488K, expenses of $467K, and assets of $213K.
Data Sources and Methodology
This transparency report for Cherryville Area Ministries And Thrift Shop 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.