Cold Water Ministries Inc
Cold Water Ministries Inc consistently maintains significant financial surpluses and zero liabilities, growing assets to over $5.6 million.
EIN: 203858808 · Huntsville, AL · NTEE: P60 · Updated: 2026-03-28
Is Cold Water Ministries Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Cold Water Ministries Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Cold Water Ministries Inc
Cold Water Ministries Inc (EIN: 203858808) is a nonprofit organization based in Huntsville, AL, classified under NTEE code P60. The organization reported total revenue of $512K and total assets of $6.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Cold Water Ministries Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Cold Water Ministries 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 0.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $426K |
| Total Expenses | $128K |
| Surplus / Deficit | +$297K |
| Total Assets | $5.7M |
| Net Assets | $5.7M |
| Operating Margin | 69.8% |
| Months of Reserves | 530.6 months |
Financial Health Grade: A
In 2023, Cold Water Ministries Inc reported a surplus of $297K with revenue exceeding expenses, holds 530.6 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2011–2023), Cold Water Ministries Inc's revenue has grown at a compound annual growth rate (CAGR) of 0.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -18.2% | -26.9% | +6.2% |
| 2022 | -6.9% | -14.3% | +6.9% |
| 2021 | +0.8% | +104.3% | +7.6% |
| 2020 | +2.4% | -8.6% | +11.3% |
| 2019 | +94.0% | -25.7% | +11.5% |
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 Cold Water Ministries 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, Cold Water Ministries 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 $297K, with revenue exceeding expenses.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, suggesting a volunteer-led organization or that compensation is not classified as officer compensation, which is highly unusual for an organization with over $500,000 in annual revenue and over $5 million in assets.
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 Cold Water Ministries Inc's IRS 990 filings:
- Consistent 0% officer compensation for an organization of this size, which may obscure actual leadership compensation if paid through other means.
- Lack of detailed expense breakdown in the provided data makes it difficult to precisely determine program spending ratio.
- Significant asset accumulation without clear indication of how these assets are being utilized for direct programmatic impact.
Strengths
The following positive indicators were identified for Cold Water Ministries Inc:
- Exceptional financial stability with zero reported liabilities across all filings.
- Consistent revenue generation, averaging over $400,000 annually over the last decade.
- Strong asset growth, increasing from $2.4 million in 2014 to $5.6 million in 2023.
- Highly efficient operations, with expenses consistently representing a small fraction of revenue (e.g., 30% in 2023).
- Consistent IRS 990 filing history, indicating good compliance and transparency.
Frequently Asked Questions about Cold Water Ministries Inc
Is Cold Water Ministries Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Cold Water Ministries Inc (EIN: 203858808) some concerns. Mission Score: 90/100. 3 red flags identified, 5 strengths noted.
How does Cold Water Ministries Inc spend its money?
Cold Water Ministries Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Cold Water Ministries Inc tax-deductible?
Cold Water Ministries Inc is registered as a tax-exempt nonprofit (EIN: 203858808). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Cold Water Ministries Inc achieve such low expenses relative to its revenue?
The filings consistently show expenses significantly lower than revenue (e.g., $128,462 expenses vs. $425,750 revenue in 2023). This could be due to a highly efficient operational model, significant in-kind donations not fully reflected in expenses, or a focus on asset accumulation rather than immediate program spending.
What specific programs does Cold Water Ministries Inc operate given its NTEE code P60 (Religious Activities)?
While the NTEE code indicates religious activities, the IRS 990 data alone does not detail specific program activities. Further investigation into their website or annual reports would be necessary to understand their programmatic impact.
Why is officer compensation consistently reported as 0%?
The consistent 0% officer compensation across all filings is unusual for an organization of this size. It suggests either a fully volunteer board and executive team, or that compensation is paid through a related entity or mechanism not captured under 'officer compensation' on the 990.
What is the organization's strategy for its growing asset base?
With assets growing from $2.4 million in 2014 to $5.6 million in 2023 and no liabilities, the organization appears to be accumulating significant reserves. The strategy behind this asset growth – whether for future large-scale projects, endowment, or other purposes – is not clear from the 990 data.
Filing History
IRS 990 filing history for Cold Water Ministries Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Cold Water Ministries Inc's revenue has grown by 0.5%, moving from $424K to $426K. Total assets increased by 530.9% over the same period, from $900K to $5.7M. Total functional expenses rose by 270%, from $35K to $128K. In its most recent filing year (2023), Cold Water Ministries Inc reported a surplus of $297K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $426K | $128K | $5.7M | $0 | — | View 990 |
| 2022 | $521K | $176K | $5.4M | $0 | — | View 990 |
| 2021 | $559K | $205K | $5.0M | $0 | — | View 990 |
| 2020 | $554K | $100K | $4.7M | $0 | — | — |
| 2019 | $541K | $110K | $4.2M | $0 | — | View 990 |
| 2018 | $279K | $148K | $3.7M | $0 | — | View 990 |
| 2017 | $410K | $149K | $3.6M | $0 | — | View 990 |
| 2016 | $755K | $142K | $3.3M | $0 | — | View 990 |
| 2015 | $432K | $151K | $2.7M | $0 | — | View 990 |
| 2014 | $352K | $70K | $2.4M | $0 | — | View 990 |
| 2013 | $214K | $60K | $2.2M | $0 | — | View 990 |
| 2012 | $1.2M | $97K | $2.0M | $0 | — | View 990 |
| 2011 | $424K | $35K | $900K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $426K, expenses of $128K, and assets of $5.7M (revenue -18.2% year-over-year).
- 2022: Revenue of $521K, expenses of $176K, and assets of $5.4M (revenue -6.9% year-over-year).
- 2021: Revenue of $559K, expenses of $205K, and assets of $5.0M (revenue +0.8% year-over-year).
- 2020: Revenue of $554K, expenses of $100K, and assets of $4.7M (revenue +2.4% year-over-year).
- 2019: Revenue of $541K, expenses of $110K, and assets of $4.2M (revenue +94.0% year-over-year).
- 2018: Revenue of $279K, expenses of $148K, and assets of $3.7M (revenue -32.0% year-over-year).
- 2017: Revenue of $410K, expenses of $149K, and assets of $3.6M (revenue -45.6% year-over-year).
- 2016: Revenue of $755K, expenses of $142K, and assets of $3.3M (revenue +74.9% year-over-year).
- 2015: Revenue of $432K, expenses of $151K, and assets of $2.7M (revenue +22.5% year-over-year).
- 2014: Revenue of $352K, expenses of $70K, and assets of $2.4M (revenue +64.8% year-over-year).
- 2013: Revenue of $214K, expenses of $60K, and assets of $2.2M (revenue -82.2% year-over-year).
- 2012: Revenue of $1.2M, expenses of $97K, and assets of $2.0M (revenue +183.7% year-over-year).
- 2011: Revenue of $424K, expenses of $35K, and assets of $900K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Cold Water Ministries Inc:
Data Sources and Methodology
This transparency report for Cold Water Ministries 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.