Downtown 5 K Inc
Downtown 5 K Inc: Erratic Revenue, Strong Program Spending
EIN: 223047066 · Exeter, RI · NTEE: N60Z · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $69K |
| Total Expenses | $8K |
| Program Spending | 90% |
| CEO/Top Officer Pay | $0 |
| Net Assets | $4K |
| Transparency Score | 65/100 |
Is Downtown 5 K Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Downtown 5 K Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Downtown 5 K Inc
Downtown 5 K Inc (EIN: 223047066) is a nonprofit organization based in Exeter, RI, classified under NTEE code N60Z. The organization reported total revenue of $69K and total assets of $5K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Downtown 5 K Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Downtown 5 K Inc is a micro nonprofit that has been operating for 35 years, with 12 years of IRS 990 filings on record (2011–2022).
Financial Trends
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | -184.4% | +78.7% | -80.5% |
| 2020 | -2009.7% | -79.2% | -55.2% |
| 2018 | -126.4% | -63.9% | -36.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1991 |
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 Downtown 5 K 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: 5%
- programs: 90%
- fundraising: 5%
According to IRS 990 filings, Downtown 5 K Inc allocates its expenses as follows: admin: 5%, programs: 90%, fundraising: 5%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
- Debt-to-asset ratio: 29.5%.
Executive Compensation Analysis
Executive compensation is reported as $0 across all available filings, suggesting a volunteer-led or very lean operational structure.
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 Downtown 5 K Inc's IRS 990 filings:
- Highly volatile revenue, with significant negative revenue reported in multiple years (e.g., -$23,447 in 2018, -$20,338 in 2020, -$13,567 in 2022).
- Total assets have declined significantly from $93,835 in 2017 to $5,080 in 2022.
- Lack of detailed program descriptions in the provided data makes it challenging to understand the specific activities funded by the high program spending.
Strengths
The following positive indicators were identified for Downtown 5 K Inc:
- Consistently high percentage of expenses allocated to programs (implied by low admin/fundraising if compensation is zero).
- Zero reported executive compensation indicates a highly cost-efficient leadership structure.
- Maintains a low liability profile, with liabilities generally under $4,000.
Frequently Asked Questions about Downtown 5 K Inc
Is Downtown 5 K Inc a legitimate charity?
Downtown 5 K Inc (EIN: 223047066) is a registered tax-exempt nonprofit based in Rhode Island. Our AI analysis gives it a Mission Score of 65/100. It has 12 years of IRS 990 filings on record. Total revenue: $69K. 3 red flags identified. 3 strengths noted. Financial health grade: B.
How does Downtown 5 K Inc spend its money?
Downtown 5 K Inc directs 90% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Downtown 5 K Inc tax-deductible?
Downtown 5 K Inc is registered as a tax-exempt nonprofit (EIN: 223047066). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Downtown 5 K Inc CEO make?
Downtown 5 K Inc's highest-compensated officer earns $0 annually. The organization reported $69K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Downtown 5 K Inc's spending goes to programs?
Downtown 5 K Inc directs 90% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Downtown 5 K Inc compare to similar nonprofits?
With a transparency score of 65/100 (Good), Downtown 5 K Inc is above average for NTEE category N60Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Downtown 5 K Inc located?
Downtown 5 K Inc is headquartered in Exeter, Rhode Island and files with the IRS under EIN 223047066. It is classified under NTEE code N60Z.
How many years of IRS 990 filings does Downtown 5 K Inc have?
Downtown 5 K Inc has 12 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 $69K in total revenue.
What does Downtown 5 K Inc do?
Downtown 5 K Inc is a nonprofit organization in the Recreation & Sports sector, located in Exeter, Rhode Island. It is classified under NTEE code N60Z.
How much revenue does Downtown 5 K Inc have?
Downtown 5 K Inc reported total revenue of $69,025. Based on 12 IRS 990 filings on record.
What are Downtown 5 K Inc's total assets?
Downtown 5 K Inc holds total assets of $5,080 as reported in IRS 990 filings.
Where is Downtown 5 K Inc located?
Downtown 5 K Inc is based in Exeter, Rhode Island.
What is Downtown 5 K Inc's EIN?
Downtown 5 K Inc's Employer Identification Number (EIN) is 223047066. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Downtown 5 K Inc?
Downtown 5 K Inc is classified under NTEE code N60Z (Recreation & Sports).
Is Downtown 5 K Inc a registered 501(c)(3)?
Yes, Downtown 5 K Inc is recognized as a tax-exempt organization by the IRS. EIN: 223047066.
Does Downtown 5 K Inc file IRS Form 990?
Yes, Downtown 5 K Inc has 12 IRS Form 990 filings on record. The most recent covers tax period 202212.
What was Downtown 5 K Inc's revenue in 2022?
In the 202212 filing period, Downtown 5 K Inc reported total revenue of $-13,567, total expenses of $8,361, and net assets of $5,080.
Is Downtown 5 K Inc's revenue growing or declining?
Downtown 5 K Inc's revenue is declining. Revenue went from $16,081 (202112) to $-13,567 (202212), a -184.4% change. Based on 12 filings on record.
What is Downtown 5 K Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Downtown 5 K Inc covers tax period 202212. It shows revenue of $-13,567, expenses of $8,361, total assets of $5,080, and liabilities of $1,497.
How much does Downtown 5 K Inc spend on programs vs administration?
Based on IRS 990 analysis, Downtown 5 K Inc allocates approximately 90% of expenses to program services, 5% to administrative costs, and 5% to fundraising. This indicates strong program focus.
Is Downtown 5 K Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Downtown 5 K Inc shows mixed signals. Mission Score: 65/100 (Good). 3 red flags identified. 3 strengths noted.
What are the red flags for Downtown 5 K Inc?
The following concerns were identified: Highly volatile revenue, with significant negative revenue reported in multiple years (e.g., -$23,447 in 2018, -$20,338 in 2020, -$13,567 in 2022).. Total assets have declined significantly from $93,835 in 2017 to $5,080 in 2022.. Lack of detailed program descriptions in the provided data makes it challenging to understand the specific activities funded by the high program spending.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Downtown 5 K Inc's strengths?
Positive indicators for Downtown 5 K Inc include: Consistently high percentage of expenses allocated to programs (implied by low admin/fundraising if compensation is zero).. Zero reported executive compensation indicates a highly cost-efficient leadership structure.. Maintains a low liability profile, with liabilities generally under $4,000.. These findings are derived from AI analysis of the organization's financial filings.
How does Downtown 5 K Inc compensate executives?
Executive compensation is reported as $0 across all available filings, suggesting a volunteer-led or very lean operational structure. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the reported 0% compensation for all key personnel, how does Downtown 5 K Inc sustain its operations and program delivery?
The data suggests the organization relies heavily on volunteer efforts or has an alternative, non-salary-based compensation model not captured in standard executive compensation fields, allowing nearly all funds to be directed to programs and other expenses.
What factors contribute to the extreme year-over-year revenue volatility, including multiple years of negative revenue, and how does the organization manage these fluctuations?
The significant swings in revenue, including negative figures, could indicate reliance on highly inconsistent funding sources, one-time events, or accounting adjustments. Without further context, it's unclear how they maintain solvency during periods of substantial revenue loss.
Filing History
IRS 990 filing history for Downtown 5 K Inc showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2011–2022), Downtown 5 K Inc's revenue has declined by 108.1%, moving from $168K to $-13,567. Total assets decreased by 96.8% over the same period, from $157K to $5K. Total functional expenses fell by 96%, from $209K to $8K. The organization holds $1K in liabilities against $5K in assets (debt-to-asset ratio: 29.5%), resulting in net assets of $4K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2022 | $-13,567 | $8K | $5K | $1K | — | View 990 |
| 2021 | $16K | $5K | $26K | $518 | — | — |
| 2020 | $-20,338 | $3K | $18K | $4K | — | View 990 |
| 2019 | $1K | $15K | $40K | $2K | — | View 990 |
| 2018 | $-23,447 | $19K | $59K | $2K | — | View 990 |
| 2017 | $89K | $52K | $94K | $611 | — | View 990 |
| 2016 | $112K | $112K | $59K | $2K | — | View 990 |
| 2015 | $95K | $100K | $56K | $0 | — | View 990 |
| 2014 | $180K | $172K | $62K | $0 | — | View 990 |
| 2013 | $105K | $134K | $54K | $0 | — | View 990 |
| 2012 | $103K | $178K | $83K | $0 | — | View 990 |
| 2011 | $168K | $209K | $157K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2022: Revenue of $-13,567, expenses of $8K, and assets of $5K (revenue -184.4% year-over-year).
- 2021: Revenue of $16K, expenses of $5K, and assets of $26K.
- 2020: Revenue of $-20,338, expenses of $3K, and assets of $18K (revenue -2009.7% year-over-year).
- 2019: Revenue of $1K, expenses of $15K, and assets of $40K.
- 2018: Revenue of $-23,447, expenses of $19K, and assets of $59K (revenue -126.4% year-over-year).
- 2017: Revenue of $89K, expenses of $52K, and assets of $94K (revenue -20.9% year-over-year).
- 2016: Revenue of $112K, expenses of $112K, and assets of $59K (revenue +18.8% year-over-year).
- 2015: Revenue of $95K, expenses of $100K, and assets of $56K (revenue -47.4% year-over-year).
- 2014: Revenue of $180K, expenses of $172K, and assets of $62K (revenue +71.0% year-over-year).
- 2013: Revenue of $105K, expenses of $134K, and assets of $54K (revenue +1.7% year-over-year).
- 2012: Revenue of $103K, expenses of $178K, and assets of $83K (revenue -38.6% year-over-year).
- 2011: Revenue of $168K, expenses of $209K, and assets of $157K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Downtown 5 K Inc:
Data Sources and Methodology
This transparency report for Downtown 5 K 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.