Educational Growth Across Oceans Inc
EIN: 562040948 · Raleigh, NC · NTEE: A20
Is Educational Growth Across Oceans Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Educational Growth Across Oceans Inc
Educational Growth Across Oceans Inc (EIN: 562040948) is a nonprofit organization based in Raleigh, NC, classified under NTEE code A20. The organization reported total revenue of $822K and total assets of $137K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Educational Growth Across Oceans Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Educational Growth Across Oceans Inc is a small nonprofit that has been operating for 23 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 6.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $870K |
| Total Expenses | $948K |
| Surplus / Deficit | $-77,506 |
| Total Assets | $279K |
| Total Liabilities | $119K |
| Net Assets | $160K |
| Operating Margin | -8.9% |
| Debt-to-Asset Ratio | 42.7% |
| Months of Reserves | 3.5 months |
Financial Health Grade: B
In 2023, Educational Growth Across Oceans Inc reported a deficit of $78K with expenses exceeding revenue, holds 3.5 months of operating reserves (adequate), has a debt-to-asset ratio of 42.7% (moderate leverage).
Financial Trends
Over 14 years of filings (2010–2023), Educational Growth Across Oceans Inc's revenue has grown at a compound annual growth rate (CAGR) of 6.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +35.5% | +69.5% | -22.6% |
| 2022 | +3201.7% | +732.4% | +34.4% |
| 2021 | -69.1% | -30.5% | -14.0% |
| 2020 | -91.5% | -85.8% | +18.5% |
| 2019 | -2.6% | -13.7% | +4.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2003 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Educational Growth Across Oceans Inc has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Educational Growth Across Oceans Inc with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $78K, with expenses exceeding revenue.
- Debt-to-asset ratio: 42.7%.
Frequently Asked Questions about Educational Growth Across Oceans Inc
Is Educational Growth Across Oceans Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Educational Growth Across Oceans Inc (EIN: 562040948) insufficient data. 0 red flags identified, 0 strengths noted.
How does Educational Growth Across Oceans Inc spend its money?
Detailed spending breakdown data is not yet available for Educational Growth Across Oceans Inc. Check back for updated IRS 990 analysis.
Are donations to Educational Growth Across Oceans Inc tax-deductible?
Educational Growth Across Oceans Inc is registered as a tax-exempt nonprofit (EIN: 562040948). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Filing History
IRS 990 filing history for Educational Growth Across Oceans Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Educational Growth Across Oceans Inc's revenue has grown by 132.6%, moving from $374K to $870K. Total assets decreased by 15.4% over the same period, from $330K to $279K. Total functional expenses rose by 220.8%, from $295K to $948K. In its most recent filing year (2023), Educational Growth Across Oceans Inc reported a deficit of $78K, with expenses exceeding revenue. The organization holds $119K in liabilities against $279K in assets (debt-to-asset ratio: 42.7%), resulting in net assets of $160K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $870K | $948K | $279K | $119K | — | View 990 |
| 2022 | $642K | $559K | $360K | $120K | — | View 990 |
| 2021 | $19K | $67K | $268K | $122K | — | View 990 |
| 2020 | $63K | $97K | $312K | $118K | — | — |
| 2019 | $742K | $680K | $263K | $35K | — | View 990 |
| 2018 | $762K | $788K | $253K | $89K | — | View 990 |
| 2017 | $863K | $966K | $275K | $86K | — | View 990 |
| 2016 | $906K | $905K | $391K | $99K | — | View 990 |
| 2015 | $825K | $771K | $408K | $117K | — | View 990 |
| 2014 | $742K | $676K | $328K | $91K | — | View 990 |
| 2013 | $593K | $657K | $266K | $89K | — | View 990 |
| 2012 | $512K | $506K | $312K | $41K | — | View 990 |
| 2011 | $381K | $413K | $382K | $117K | — | View 990 |
| 2010 | $374K | $295K | $330K | $40K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $870K, expenses of $948K, and assets of $279K (revenue +35.5% year-over-year).
- 2022: Revenue of $642K, expenses of $559K, and assets of $360K (revenue +3201.7% year-over-year).
- 2021: Revenue of $19K, expenses of $67K, and assets of $268K (revenue -69.1% year-over-year).
- 2020: Revenue of $63K, expenses of $97K, and assets of $312K (revenue -91.5% year-over-year).
- 2019: Revenue of $742K, expenses of $680K, and assets of $263K (revenue -2.6% year-over-year).
- 2018: Revenue of $762K, expenses of $788K, and assets of $253K (revenue -11.6% year-over-year).
- 2017: Revenue of $863K, expenses of $966K, and assets of $275K (revenue -4.8% year-over-year).
- 2016: Revenue of $906K, expenses of $905K, and assets of $391K (revenue +9.9% year-over-year).
- 2015: Revenue of $825K, expenses of $771K, and assets of $408K (revenue +11.2% year-over-year).
- 2014: Revenue of $742K, expenses of $676K, and assets of $328K (revenue +25.1% year-over-year).
- 2013: Revenue of $593K, expenses of $657K, and assets of $266K (revenue +15.7% year-over-year).
- 2012: Revenue of $512K, expenses of $506K, and assets of $312K (revenue +34.6% year-over-year).
- 2011: Revenue of $381K, expenses of $413K, and assets of $382K (revenue +1.7% year-over-year).
- 2010: Revenue of $374K, expenses of $295K, and assets of $330K.
Data Sources and Methodology
This transparency report for Educational Growth Across Oceans 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.