Elite Greyhound Adoptions Inc
Elite Greyhound Adoptions Inc. faces significant financial challenges with recent large deficits and substantial liabilities.
EIN: 204871903 · Paris, KY · NTEE: D20 · Updated: 2026-03-28
Is Elite Greyhound Adoptions Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Elite Greyhound Adoptions Inc directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Elite Greyhound Adoptions Inc
Elite Greyhound Adoptions Inc (EIN: 204871903) is a nonprofit organization based in Paris, KY, classified under NTEE code D20. The organization reported total revenue of $104K and total assets of $92K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Elite Greyhound Adoptions Inc'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 Elite Greyhound Adoptions Inc with a Mission Score of 55 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Elite Greyhound Adoptions Inc allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that the organization's leadership is not drawing a salary, which is commendable for a nonprofit of its size.
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 Elite Greyhound Adoptions Inc's IRS 990 filings:
- Significant operational deficits in 2021 ($270,624) and 2022 ($72,669).
- Dramatic increase in liabilities from $0 in 2020 to $340,169 in 2021 and $325,222 in 2022.
- Assets ($91,759 in 2022) are significantly lower than liabilities ($325,222 in 2022), indicating a negative net asset position.
- Inconsistent revenue generation, with a sharp drop from $328,045 in 2020 to $96,152 in 2021.
Strengths
The following positive indicators were identified for Elite Greyhound Adoptions Inc:
- No reported officer compensation across all available filings, indicating low administrative overhead in this area.
- Consistent filing history with the IRS, demonstrating transparency in reporting.
- Maintained assets above $90,000 even during periods of high liabilities.
Frequently Asked Questions about Elite Greyhound Adoptions Inc
Is Elite Greyhound Adoptions Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Elite Greyhound Adoptions Inc (EIN: 204871903) some concerns. Mission Score: 55/100. 4 red flags identified, 3 strengths noted.
How does Elite Greyhound Adoptions Inc spend its money?
Elite Greyhound Adoptions Inc directs 75% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Elite Greyhound Adoptions Inc tax-deductible?
Elite Greyhound Adoptions Inc is registered as a tax-exempt nonprofit (EIN: 204871903). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Elite Greyhound Adoptions Inc. a good charity?
Elite Greyhound Adoptions Inc. has a commendable mission, but its recent financial performance raises concerns. While it has no officer compensation, the significant deficits in 2021 and 2022, coupled with a dramatic increase in liabilities to over $300,000, suggest financial instability. Donors should investigate the nature of these liabilities and the organization's plan for financial recovery before contributing.
Why did liabilities increase so dramatically?
The IRS 990 data shows liabilities increasing from $0 in 2020 to $340,169 in 2021 and $325,222 in 2022. The provided data does not specify the nature of these liabilities (e.g., loans, unpaid bills, deferred revenue), but this sudden and substantial increase is a critical financial red flag that warrants further investigation by potential donors.
Is the organization financially sustainable?
Based on the 2021 and 2022 filings where expenses significantly outstripped revenue (e.g., $203,670 expenses vs. $131,001 revenue in 2022), the organization is currently operating at a deficit and accumulating liabilities. This trend suggests that its current financial model is not sustainable without significant changes to revenue generation or expense management.
Filing History
IRS 990 filing history for Elite Greyhound Adoptions Inc showing financial trends over 11 years of public records:
Over 11 years of IRS 990 filings (2011–2022), Elite Greyhound Adoptions Inc's revenue has declined by 58.5%, moving from $316K to $131K. Total assets decreased by 21.2% over the same period, from $116K to $92K. Total functional expenses fell by 37.5%, from $326K to $204K. In its most recent filing year (2022), Elite Greyhound Adoptions Inc reported a deficit of $73K, with expenses exceeding revenue. The organization holds $325K in liabilities against $92K in assets (debt-to-asset ratio: 354.4%), resulting in net assets of $-233,463.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2022 | $131K | $204K | $92K | $325K | — | View 990 |
| 2021 | $96K | $367K | $179K | $340K | — | View 990 |
| 2020 | $328K | $416K | $110K | $0 | — | View 990 |
| 2019 | $307K | $224K | $192K | $0 | — | View 990 |
| 2018 | $94K | $93K | $109K | $0 | — | View 990 |
| 2017 | $77K | $79K | $108K | $0 | — | View 990 |
| 2016 | $66K | $73K | $111K | $0 | — | View 990 |
| 2015 | $77K | $71K | $118K | $0 | — | View 990 |
| 2013 | $103K | $106K | $120K | $0 | — | View 990 |
| 2012 | $101K | $93K | $124K | $0 | — | View 990 |
| 2011 | $316K | $326K | $116K | $671 | — | View 990 |
Year-by-Year Financial Summary
- 2022: Revenue of $131K, expenses of $204K, and assets of $92K (revenue +36.2% year-over-year).
- 2021: Revenue of $96K, expenses of $367K, and assets of $179K (revenue -70.7% year-over-year).
- 2020: Revenue of $328K, expenses of $416K, and assets of $110K (revenue +6.7% year-over-year).
- 2019: Revenue of $307K, expenses of $224K, and assets of $192K (revenue +228.3% year-over-year).
- 2018: Revenue of $94K, expenses of $93K, and assets of $109K (revenue +21.9% year-over-year).
- 2017: Revenue of $77K, expenses of $79K, and assets of $108K (revenue +16.5% year-over-year).
- 2016: Revenue of $66K, expenses of $73K, and assets of $111K (revenue -13.8% year-over-year).
- 2015: Revenue of $77K, expenses of $71K, and assets of $118K (revenue -25.5% year-over-year).
- 2013: Revenue of $103K, expenses of $106K, and assets of $120K (revenue +1.7% year-over-year).
- 2012: Revenue of $101K, expenses of $93K, and assets of $124K (revenue -68.0% year-over-year).
- 2011: Revenue of $316K, expenses of $326K, and assets of $116K.
Data Sources and Methodology
This transparency report for Elite Greyhound Adoptions 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.