Corazon Ministries Inc
Corazon Ministries Inc. shows strong program spending and significant growth, with no reported officer compensation.
EIN: 200319533 · San Antonio, TX · NTEE: P99 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.5M |
| Total Expenses | $2.1M |
| Program Spending | 75% |
| Net Assets | $391K |
| Transparency Score | 90/100 |
Is Corazon Ministries Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Corazon Ministries Inc directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Corazon Ministries Inc
Corazon Ministries Inc (EIN: 200319533) is a nonprofit organization based in San Antonio, TX, classified under NTEE code P99. The organization reported total revenue of $2.5M and total assets of $722K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Corazon Ministries Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Corazon Ministries Inc is a mid-size nonprofit that has been operating for 22 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 34.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.1M |
| Total Expenses | $2.1M |
| Surplus / Deficit | +$11K |
| Total Assets | $693K |
| Total Liabilities | $302K |
| Net Assets | $391K |
| Operating Margin | 0.5% |
| Debt-to-Asset Ratio | 43.6% |
| Months of Reserves | 3.9 months |
Financial Health Grade: A
In 2023, Corazon Ministries Inc reported a surplus of $11K with revenue exceeding expenses, holds 3.9 months of operating reserves (adequate), has a debt-to-asset ratio of 43.6% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Corazon Ministries Inc's revenue has grown at a compound annual growth rate (CAGR) of 34.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +27.2% | +5.5% | -14.4% |
| 2022 | +53.9% | +290.8% | +5.8% |
| 2021 | +436.7% | +131.2% | +620.0% |
| 2020 | +6.6% | +19.6% | -15.6% |
| 2019 | +8.5% | +5.2% | +2.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2004 |
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 Corazon 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: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Corazon Ministries Inc allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% 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 $11K, with revenue exceeding expenses.
- Debt-to-asset ratio: 43.6%.
Executive Compensation Analysis
Corazon Ministries Inc. reports 0% officer compensation across all available filings, indicating that its leadership either serves on a volunteer basis or is compensated through other means not categorized as officer compensation, which is highly unusual for an organization of its size and growth, and contributes to its high program spending ratio.
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 Corazon Ministries Inc's IRS 990 filings:
- Significant increase in liabilities in recent years (from $0 in 2020 to $302,035 in 2023), warranting further investigation into their nature and management.
- Unusually low or zero reported officer compensation for an organization with over $2 million in revenue, which could indicate alternative compensation structures or a high reliance on volunteers for key leadership roles.
Strengths
The following positive indicators were identified for Corazon Ministries Inc:
- Strong program spending ratio (75% in 2023), indicating efficient allocation of resources to its mission.
- Significant revenue growth, demonstrating expanding support and capacity to serve its community (from $204,128 in 2020 to $2,144,506 in 2023).
- Consistent reporting of 0% officer compensation, suggesting a highly cost-efficient leadership structure.
- Positive net assets growth over the long term, from $32,016 in 2015 to $692,700 in 2023, indicating financial stability and capacity building.
Frequently Asked Questions about Corazon Ministries Inc
Is Corazon Ministries Inc a legitimate charity?
Corazon Ministries Inc (EIN: 200319533) is a registered tax-exempt nonprofit based in Texas. Our AI analysis gives it a Mission Score of 90/100. It has 13 years of IRS 990 filings on record. Total revenue: $2.5M. 2 red flags identified. 4 strengths noted. Financial health grade: A.
How does Corazon Ministries Inc spend its money?
Corazon Ministries Inc directs 75% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Corazon Ministries Inc tax-deductible?
Corazon Ministries Inc is registered as a tax-exempt nonprofit (EIN: 200319533). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Corazon Ministries Inc's spending goes to programs?
Corazon Ministries Inc directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Corazon Ministries Inc compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), Corazon Ministries Inc is above average for NTEE category P99 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Corazon Ministries Inc located?
Corazon Ministries Inc is headquartered in San Antonio, Texas and files with the IRS under EIN 200319533. It is classified under NTEE code P99.
How many years of IRS 990 filings does Corazon Ministries Inc have?
Corazon Ministries 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 $2.5M in total revenue.
Is Corazon Ministries Inc. a good charity?
Based on its financial data, Corazon Ministries Inc. appears to be a good charity, demonstrating strong program spending (75% in 2023) and no reported officer compensation, indicating efficient use of funds towards its mission.
How has Corazon Ministries Inc.'s financial health changed over time?
Corazon Ministries Inc. has experienced substantial growth, with revenue increasing tenfold from $204,128 in 2020 to $2,144,506 in 2023. While assets have also grown, liabilities have seen a notable increase in recent years, reaching $302,035 in 2023, which should be monitored.
What is the organization's approach to executive compensation?
The organization consistently reports 0% officer compensation in all available IRS 990 filings, suggesting a volunteer-driven executive leadership or that compensation is structured in a way that is not reported under this category.
Filing History
IRS 990 filing history for Corazon Ministries Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Corazon Ministries Inc's revenue has grown by 3244.8%, moving from $64K to $2.1M. Total assets increased by 380.3% over the same period, from $144K to $693K. Total functional expenses rose by 4399%, from $47K to $2.1M. In its most recent filing year (2023), Corazon Ministries Inc reported a surplus of $11K, with revenue exceeding expenses. The organization holds $302K in liabilities against $693K in assets (debt-to-asset ratio: 43.6%), resulting in net assets of $391K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.1M | $2.1M | $693K | $302K | — | — |
| 2022 | $1.7M | $2.0M | $809K | $416K | — | View 990 |
| 2021 | $1.1M | $517K | $764K | $39K | — | View 990 |
| 2020 | $204K | $224K | $106K | $0 | — | View 990 |
| 2019 | $191K | $187K | $126K | $0 | — | View 990 |
| 2018 | $176K | $178K | $123K | $2K | — | View 990 |
| 2017 | $136K | $125K | $126K | $2K | — | — |
| 2016 | $210K | $127K | $115K | $2K | — | View 990 |
| 2015 | $44K | $46K | $32K | $2K | — | View 990 |
| 2014 | $107K | $49K | $33K | $1K | — | View 990 |
| 2013 | $41K | $57K | $37K | $63K | — | View 990 |
| 2012 | $16K | $108K | $54K | $63K | — | View 990 |
| 2011 | $64K | $47K | $144K | $62K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.1M, expenses of $2.1M, and assets of $693K (revenue +27.2% year-over-year).
- 2022: Revenue of $1.7M, expenses of $2.0M, and assets of $809K (revenue +53.9% year-over-year).
- 2021: Revenue of $1.1M, expenses of $517K, and assets of $764K (revenue +436.7% year-over-year).
- 2020: Revenue of $204K, expenses of $224K, and assets of $106K (revenue +6.6% year-over-year).
- 2019: Revenue of $191K, expenses of $187K, and assets of $126K (revenue +8.5% year-over-year).
- 2018: Revenue of $176K, expenses of $178K, and assets of $123K (revenue +30.1% year-over-year).
- 2017: Revenue of $136K, expenses of $125K, and assets of $126K (revenue -35.6% year-over-year).
- 2016: Revenue of $210K, expenses of $127K, and assets of $115K (revenue +377.8% year-over-year).
- 2015: Revenue of $44K, expenses of $46K, and assets of $32K (revenue -58.8% year-over-year).
- 2014: Revenue of $107K, expenses of $49K, and assets of $33K (revenue +159.2% year-over-year).
- 2013: Revenue of $41K, expenses of $57K, and assets of $37K (revenue +150.1% year-over-year).
- 2012: Revenue of $16K, expenses of $108K, and assets of $54K (revenue -74.3% year-over-year).
- 2011: Revenue of $64K, expenses of $47K, and assets of $144K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Corazon Ministries Inc:
Data Sources and Methodology
This transparency report for Corazon 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.