Day Spring Homes Inc
Day Spring Homes Inc. consistently operates at a deficit, leading to a steady decline in assets over the past decade.
EIN: 201349092 · Louisville, KY · NTEE: P73 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $24K |
| Total Expenses | $47K |
| Program Spending | 70% |
| Net Assets | $175K |
| Transparency Score | 60/100 |
Is Day Spring Homes Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Day Spring Homes Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Day Spring Homes Inc
Day Spring Homes Inc (EIN: 201349092) is a nonprofit organization based in Louisville, KY, classified under NTEE code P73. The organization reported total revenue of $24K and total assets of $211K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Day Spring Homes Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Day Spring Homes Inc is a micro nonprofit that has been operating for 21 years, with 14 years of IRS 990 filings on record (2011–2024). Revenue has grown at a compound annual rate of 0.6%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $24K |
| Total Expenses | $47K |
| Surplus / Deficit | $-22,875 |
| Total Assets | $211K |
| Total Liabilities | $36K |
| Net Assets | $175K |
| Operating Margin | -96.4% |
| Debt-to-Asset Ratio | 17.1% |
| Months of Reserves | 54.4 months |
Financial Health Grade: B
In 2024, Day Spring Homes Inc reported a deficit of $23K with expenses exceeding revenue, holds 54.4 months of operating reserves (strong position), has a debt-to-asset ratio of 17.1% (very low leverage).
Financial Trends
Over 14 years of filings (2011–2024), Day Spring Homes Inc's revenue has grown at a compound annual growth rate (CAGR) of 0.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | -10.8% | -3.0% | -8.0% |
| 2023 | +3.5% | -5.0% | -8.5% |
| 2022 | +9.1% | +14.5% | -6.8% |
| 2021 | -0.1% | +5.8% | -4.9% |
| 2020 | -0.1% | +1.3% | -5.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2005 |
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 Day Spring Homes Inc with a Mission Score of 60 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: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Day Spring Homes Inc allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $23K, with expenses exceeding revenue.
- Debt-to-asset ratio: 17.1%.
Executive Compensation Analysis
Executive compensation has consistently been reported as 0% across all available filings, indicating that no officer salaries are paid, which is a strong positive for resource allocation directly to the organization's mission.
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 Day Spring Homes Inc's IRS 990 filings:
- Consistent operating deficits: Expenses have significantly outpaced revenue in every reported period (e.g., 2024 expenses $46,594 vs. revenue $23,719).
- Declining asset base: Assets have steadily decreased from $381,934 in 2015 to $211,209 in 2024, indicating a reliance on reserves to cover deficits.
- Potential long-term financial sustainability issues if current trends continue.
Strengths
The following positive indicators were identified for Day Spring Homes Inc:
- Consistent IRS 990 filings: 14 filings demonstrate a commitment to transparency and compliance.
- Zero officer compensation: No executive salaries reported, indicating resources are not diverted to high administrative pay.
- Relatively stable revenue stream: Annual revenue has remained consistent, albeit insufficient, over the past decade.
Frequently Asked Questions about Day Spring Homes Inc
Is Day Spring Homes Inc a legitimate charity?
Day Spring Homes Inc (EIN: 201349092) is a registered tax-exempt nonprofit based in Kentucky. Our AI analysis gives it a Mission Score of 60/100. It has 14 years of IRS 990 filings on record. Total revenue: $24K. 3 red flags identified. 3 strengths noted. Financial health grade: B.
How does Day Spring Homes Inc spend its money?
Day Spring Homes Inc directs 70% of its spending to programs and services. Fundraising costs 10%. This meets the 65% industry benchmark.
Are donations to Day Spring Homes Inc tax-deductible?
Day Spring Homes Inc is registered as a tax-exempt nonprofit (EIN: 201349092). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Day Spring Homes Inc's spending goes to programs?
Day Spring Homes Inc directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
How does Day Spring Homes Inc compare to similar nonprofits?
With a transparency score of 60/100 (Good), Day Spring Homes Inc is above average for NTEE category P73 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Day Spring Homes Inc located?
Day Spring Homes Inc is headquartered in Louisville, Kentucky and files with the IRS under EIN 201349092. It is classified under NTEE code P73.
How many years of IRS 990 filings does Day Spring Homes Inc have?
Day Spring Homes Inc has 14 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 $24K in total revenue.
Is Day Spring Homes Inc. financially sustainable given its consistent operating deficits?
The organization has consistently spent more than it earned, with expenses exceeding revenue by nearly double in recent years (e.g., $46,594 expenses vs. $23,719 revenue in 2024). This trend has led to a significant decline in assets from $381,934 in 2015 to $211,209 in 2024, raising concerns about long-term financial sustainability without a change in funding or spending.
What is the primary source of funding for Day Spring Homes Inc.?
The provided data only shows 'Revenue' without specifying its source (e.g., donations, grants, program service revenue). Given the consistent revenue figures, it's likely from a stable, but insufficient, source.
How does Day Spring Homes Inc. cover its operational deficits?
The consistent decline in assets suggests that the organization is drawing down its reserves to cover the gap between expenses and revenue. For example, assets decreased by over $18,000 from 2023 to 2024, while the deficit for 2024 was $22,875 ($46,594 - $23,719).
What are the specific program activities of Day Spring Homes Inc.?
The NTEE code P73 indicates 'Residential Care & Adult Day Programs', suggesting the organization provides housing or daily care services. However, the detailed program activities are not available in the provided financial summary.
Filing History
IRS 990 filing history for Day Spring Homes Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2024), Day Spring Homes Inc's revenue has grown by 7.6%, moving from $22K to $24K. Total assets decreased by 50.5% over the same period, from $427K to $211K. Total functional expenses rose by 23.6%, from $38K to $47K. In its most recent filing year (2024), Day Spring Homes Inc reported a deficit of $23K, with expenses exceeding revenue. The organization holds $36K in liabilities against $211K in assets (debt-to-asset ratio: 17.1%), resulting in net assets of $175K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $24K | $47K | $211K | $36K | — | — |
| 2023 | $27K | $48K | $230K | $32K | — | View 990 |
| 2022 | $26K | $51K | $251K | $32K | — | — |
| 2021 | $24K | $44K | $269K | $25K | — | — |
| 2020 | $24K | $42K | $283K | $18K | — | View 990 |
| 2019 | $24K | $41K | $300K | $17K | — | View 990 |
| 2018 | $24K | $42K | $316K | $16K | — | View 990 |
| 2017 | $24K | $44K | $337K | $18K | — | View 990 |
| 2016 | $23K | $55K | $349K | $10K | — | View 990 |
| 2015 | $22K | $40K | $382K | $11K | — | View 990 |
| 2014 | $29K | $43K | $398K | $10K | — | View 990 |
| 2013 | $29K | $39K | $410K | $8K | — | View 990 |
| 2012 | $34K | $38K | $423K | $11K | — | View 990 |
| 2011 | $22K | $38K | $427K | $10K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $24K, expenses of $47K, and assets of $211K (revenue -10.8% year-over-year).
- 2023: Revenue of $27K, expenses of $48K, and assets of $230K (revenue +3.5% year-over-year).
- 2022: Revenue of $26K, expenses of $51K, and assets of $251K (revenue +9.1% year-over-year).
- 2021: Revenue of $24K, expenses of $44K, and assets of $269K (revenue -0.1% year-over-year).
- 2020: Revenue of $24K, expenses of $42K, and assets of $283K (revenue -0.1% year-over-year).
- 2019: Revenue of $24K, expenses of $41K, and assets of $300K (revenue +0.1% year-over-year).
- 2018: Revenue of $24K, expenses of $42K, and assets of $316K (revenue +0.2% year-over-year).
- 2017: Revenue of $24K, expenses of $44K, and assets of $337K (revenue +0.4% year-over-year).
- 2016: Revenue of $23K, expenses of $55K, and assets of $349K (revenue +6.5% year-over-year).
- 2015: Revenue of $22K, expenses of $40K, and assets of $382K (revenue -25.0% year-over-year).
- 2014: Revenue of $29K, expenses of $43K, and assets of $398K (revenue -0.2% year-over-year).
- 2013: Revenue of $29K, expenses of $39K, and assets of $410K (revenue -12.3% year-over-year).
- 2012: Revenue of $34K, expenses of $38K, and assets of $423K (revenue +52.0% year-over-year).
- 2011: Revenue of $22K, expenses of $38K, and assets of $427K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Day Spring Homes Inc:
Data Sources and Methodology
This transparency report for Day Spring Homes 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.