Elevate Inc
Elevate Inc shows consistent revenue growth and strong asset accumulation with no reported officer compensation.
EIN: 204385618 · Aledo, TX · NTEE: X20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.3M |
| Total Expenses | $880K |
| Program Spending | 85% |
| Net Assets | $1.4M |
| Transparency Score | 90/100 |
Is Elevate Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Elevate Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Elevate Inc
Elevate Inc (EIN: 204385618) is a nonprofit organization based in Aledo, TX, classified under NTEE code X20. The organization reported total revenue of $1.3M and total assets of $1.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Elevate Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Elevate Inc is a mid-size nonprofit that has been operating for 20 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 8.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $936K |
| Total Expenses | $880K |
| Surplus / Deficit | +$56K |
| Total Assets | $1.4M |
| Total Liabilities | $6K |
| Net Assets | $1.4M |
| Operating Margin | 6.0% |
| Debt-to-Asset Ratio | 0.4% |
| Months of Reserves | 19.6 months |
Financial Health Grade: A
In 2023, Elevate Inc reported a surplus of $56K with revenue exceeding expenses, holds 19.6 months of operating reserves (strong position), has a debt-to-asset ratio of 0.4% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Elevate Inc's revenue has grown at a compound annual growth rate (CAGR) of 8.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +2.1% | +19.6% | +3.3% |
| 2022 | +8.3% | +19.9% | +15.1% |
| 2021 | +29.1% | +36.5% | +24.3% |
| 2020 | +5.9% | -18.6% | +26.7% |
| 2019 | -9.6% | +10.4% | +10.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 7000 |
| IRS Ruling Date | 2006 |
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 Elevate 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Elevate Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% 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 $56K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.4%.
Executive Compensation Analysis
Elevate Inc consistently reports 0% officer compensation across all available filings, which is highly unusual for an organization of its size and growth. This could indicate a fully volunteer executive team or that compensation is categorized differently, warranting further scrutiny for complete transparency.
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 Elevate Inc's IRS 990 filings:
- Zero reported officer compensation across all filings, which is unusual and may warrant further investigation into how executive leadership is compensated or if it's truly volunteer-led.
Strengths
The following positive indicators were identified for Elevate Inc:
- Consistent and strong revenue growth over the past decade, indicating effective fundraising.
- Healthy asset accumulation, with assets growing from $444,859 in 2015 to $1,435,000 in 2023.
- Low liabilities relative to assets, demonstrating strong financial management and solvency.
- Consistent surplus of revenue over expenses in most years, allowing for reinvestment into the mission.
- No reported officer compensation, suggesting a high dedication to program delivery.
Frequently Asked Questions about Elevate Inc
Is Elevate Inc a legitimate charity?
Elevate Inc (EIN: 204385618) 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: $1.3M. 1 red flag identified. 5 strengths noted. Financial health grade: A.
How does Elevate Inc spend its money?
Elevate Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Elevate Inc tax-deductible?
Elevate Inc is registered as a tax-exempt nonprofit (EIN: 204385618). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Elevate Inc's spending goes to programs?
Elevate Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Elevate Inc compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), Elevate Inc is above average for NTEE category X20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Elevate Inc located?
Elevate Inc is headquartered in Aledo, Texas and files with the IRS under EIN 204385618. It is classified under NTEE code X20.
How many years of IRS 990 filings does Elevate Inc have?
Elevate 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 $1.3M in total revenue.
Is Elevate Inc a good charity?
Based on the provided financial data, Elevate Inc appears to be a well-managed charity with consistent growth, strong asset accumulation, and a healthy financial position. The absence of reported officer compensation is a notable positive, suggesting resources are directed towards the mission.
How has Elevate Inc's revenue grown over time?
Elevate Inc has demonstrated significant revenue growth, increasing from $286,146 in 2015 to $935,961 in 2023, representing over a 220% increase in less than a decade.
What is Elevate Inc's financial stability?
The organization shows strong financial stability, with assets consistently growing and significantly exceeding liabilities. For example, in 2023, assets were $1,435,000 against liabilities of only $5,596.
Filing History
IRS 990 filing history for Elevate Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Elevate Inc's revenue has grown by 152.1%, moving from $371K to $936K. Total assets increased by 300.6% over the same period, from $358K to $1.4M. Total functional expenses rose by 150.3%, from $352K to $880K. In its most recent filing year (2023), Elevate Inc reported a surplus of $56K, with revenue exceeding expenses. The organization holds $6K in liabilities against $1.4M in assets (debt-to-asset ratio: 0.4%), resulting in net assets of $1.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $936K | $880K | $1.4M | $6K | — | — |
| 2022 | $917K | $735K | $1.4M | $16K | — | View 990 |
| 2021 | $847K | $613K | $1.2M | $16K | — | View 990 |
| 2020 | $656K | $449K | $971K | $13K | — | View 990 |
| 2019 | $620K | $552K | $767K | $15K | — | View 990 |
| 2018 | $685K | $500K | $693K | $9K | — | View 990 |
| 2017 | $489K | $485K | $504K | $6K | — | View 990 |
| 2016 | $384K | $329K | $511K | $16K | — | View 990 |
| 2015 | $286K | $305K | $445K | $5K | — | View 990 |
| 2014 | $375K | $328K | $462K | $4K | — | View 990 |
| 2013 | $427K | $387K | $427K | $16K | — | View 990 |
| 2012 | $505K | $485K | $385K | $13K | — | View 990 |
| 2011 | $371K | $352K | $358K | $6K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $936K, expenses of $880K, and assets of $1.4M (revenue +2.1% year-over-year).
- 2022: Revenue of $917K, expenses of $735K, and assets of $1.4M (revenue +8.3% year-over-year).
- 2021: Revenue of $847K, expenses of $613K, and assets of $1.2M (revenue +29.1% year-over-year).
- 2020: Revenue of $656K, expenses of $449K, and assets of $971K (revenue +5.9% year-over-year).
- 2019: Revenue of $620K, expenses of $552K, and assets of $767K (revenue -9.6% year-over-year).
- 2018: Revenue of $685K, expenses of $500K, and assets of $693K (revenue +40.1% year-over-year).
- 2017: Revenue of $489K, expenses of $485K, and assets of $504K (revenue +27.4% year-over-year).
- 2016: Revenue of $384K, expenses of $329K, and assets of $511K (revenue +34.1% year-over-year).
- 2015: Revenue of $286K, expenses of $305K, and assets of $445K (revenue -23.7% year-over-year).
- 2014: Revenue of $375K, expenses of $328K, and assets of $462K (revenue -12.1% year-over-year).
- 2013: Revenue of $427K, expenses of $387K, and assets of $427K (revenue -15.4% year-over-year).
- 2012: Revenue of $505K, expenses of $485K, and assets of $385K (revenue +36.0% year-over-year).
- 2011: Revenue of $371K, expenses of $352K, and assets of $358K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Elevate Inc:
Data Sources and Methodology
This transparency report for Elevate 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.