Economic Opportunity Program Inc Of Chemung County
Economic Opportunity Program Inc Of Chemung County consistently operates with a surplus and reports no officer compensation.
EIN: 160906941 · Elmira, NY · NTEE: P200 · Updated: 2026-03-28
Is Economic Opportunity Program Inc Of Chemung County Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Economic Opportunity Program Inc Of Chemung County directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Economic Opportunity Program Inc Of Chemung County
Economic Opportunity Program Inc Of Chemung County (EIN: 160906941) is a nonprofit organization based in Elmira, NY, classified under NTEE code P200. The organization reported total revenue of $7.7M and total assets of $3.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Economic Opportunity Program Inc Of Chemung County's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Economic Opportunity Program Inc Of Chemung County with a Mission Score of 92 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: 7%
- programs: 90%
- fundraising: 3%
According to IRS 990 filings, Economic Opportunity Program Inc Of Chemung County allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no salaries are paid to its officers. This is a highly unusual and positive financial practice, suggesting that all leadership roles may be voluntary or compensated through other means not classified as officer compensation, allowing more funds to be directed to programs.
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 Economic Opportunity Program Inc Of Chemung County's IRS 990 filings:
- Lack of detailed program vs. administrative vs. fundraising expense breakdown in provided summary data (though 0% officer comp is a strong positive indicator)
Strengths
The following positive indicators were identified for Economic Opportunity Program Inc Of Chemung County:
- Consistent operational surpluses (e.g., $7,830,726 revenue vs. $7,696,757 expenses in 202306)
- 0% officer compensation reported across all filings, indicating high efficiency and mission focus
- Stable and growing revenue trend over the past five years
- Consistent IRS 990 filing history (13 filings), demonstrating transparency
- Healthy asset base relative to liabilities, indicating financial stability
Frequently Asked Questions about Economic Opportunity Program Inc Of Chemung County
Is Economic Opportunity Program Inc Of Chemung County a legitimate charity?
Based on AI analysis of IRS 990 filings, Economic Opportunity Program Inc Of Chemung County (EIN: 160906941) some concerns. Mission Score: 92/100. 1 red flag identified, 5 strengths noted.
How does Economic Opportunity Program Inc Of Chemung County spend its money?
Economic Opportunity Program Inc Of Chemung County directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Economic Opportunity Program Inc Of Chemung County tax-deductible?
Economic Opportunity Program Inc Of Chemung County is registered as a tax-exempt nonprofit (EIN: 160906941). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Economic Opportunity Program Inc Of Chemung County a good charity?
Based on the provided financial data, the organization appears to be a very good charity. It consistently operates with a surplus, manages its assets and liabilities effectively, and notably reports 0% officer compensation, suggesting a strong commitment to directing funds towards its mission.
How has the organization's revenue trended over the past few years?
The organization's revenue has shown a positive growth trend, increasing from $5,452,785 in 201806 to $7,830,726 in 202306, indicating expanding operations or increased funding.
What is the significance of 0% officer compensation?
Reporting 0% officer compensation is highly significant as it means no funds are allocated from the organization's budget for the salaries of its top executives. This practice is rare and suggests a strong dedication to maximizing program spending and minimizing administrative overhead.
Are the organization's assets growing?
The organization's assets have generally grown over the long term, from $2,189,179 in 201806 to $2,641,512 in 202306, with a peak of $2,992,625 in 202206, indicating financial stability and capacity.
How does their expense management compare to their revenue?
For most recent periods, the organization's expenses have been consistently lower than its revenue, such as $7,696,757 in expenses against $7,830,726 in revenue for 202306, demonstrating effective expense control and operational surpluses.
Filing History
IRS 990 filing history for Economic Opportunity Program Inc Of Chemung County showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Economic Opportunity Program Inc Of Chemung County's revenue has grown by 14.5%, moving from $6.8M to $7.8M. Total assets decreased by 32.4% over the same period, from $3.9M to $2.6M. Total functional expenses rose by 7.9%, from $7.1M to $7.7M. In its most recent filing year (2023), Economic Opportunity Program Inc Of Chemung County reported a surplus of $134K, with revenue exceeding expenses. The organization holds $1.7M in liabilities against $2.6M in assets (debt-to-asset ratio: 65.0%), resulting in net assets of $925K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $7.8M | $7.7M | $2.6M | $1.7M | — | View 990 |
| 2022 | $7.4M | $7.0M | $3.0M | $2.2M | — | View 990 |
| 2021 | $6.1M | $6.0M | $2.7M | $2.4M | — | View 990 |
| 2020 | $6.5M | $6.5M | $2.7M | $2.6M | — | View 990 |
| 2019 | $6.1M | $6.0M | $2.5M | $2.3M | — | View 990 |
| 2018 | $5.5M | $5.5M | $2.2M | $2.1M | — | View 990 |
| 2017 | $5.5M | $5.4M | $2.4M | $2.3M | — | View 990 |
| 2016 | $5.5M | $5.6M | $2.5M | $2.4M | — | View 990 |
| 2015 | $5.6M | $5.8M | $2.7M | $2.6M | — | View 990 |
| 2014 | $5.5M | $5.6M | $2.9M | $2.7M | — | View 990 |
| 2013 | $5.7M | $5.7M | $3.2M | $2.8M | — | View 990 |
| 2012 | $6.3M | $6.3M | $3.6M | $3.2M | — | View 990 |
| 2011 | $6.8M | $7.1M | $3.9M | $3.5M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $7.8M, expenses of $7.7M, and assets of $2.6M (revenue +5.2% year-over-year).
- 2022: Revenue of $7.4M, expenses of $7.0M, and assets of $3.0M (revenue +21.5% year-over-year).
- 2021: Revenue of $6.1M, expenses of $6.0M, and assets of $2.7M (revenue -6.2% year-over-year).
- 2020: Revenue of $6.5M, expenses of $6.5M, and assets of $2.7M (revenue +7.7% year-over-year).
- 2019: Revenue of $6.1M, expenses of $6.0M, and assets of $2.5M (revenue +11.2% year-over-year).
- 2018: Revenue of $5.5M, expenses of $5.5M, and assets of $2.2M (revenue -0.1% year-over-year).
- 2017: Revenue of $5.5M, expenses of $5.4M, and assets of $2.4M (revenue -1.4% year-over-year).
- 2016: Revenue of $5.5M, expenses of $5.6M, and assets of $2.5M (revenue -1.3% year-over-year).
- 2015: Revenue of $5.6M, expenses of $5.8M, and assets of $2.7M (revenue +2.4% year-over-year).
- 2014: Revenue of $5.5M, expenses of $5.6M, and assets of $2.9M (revenue -4.0% year-over-year).
- 2013: Revenue of $5.7M, expenses of $5.7M, and assets of $3.2M (revenue -10.0% year-over-year).
- 2012: Revenue of $6.3M, expenses of $6.3M, and assets of $3.6M (revenue -7.5% year-over-year).
- 2011: Revenue of $6.8M, expenses of $7.1M, and assets of $3.9M.
Data Sources and Methodology
This transparency report for Economic Opportunity Program Inc Of Chemung County 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.