Elwood Community Development Corporation
Elwood Community Development Corporation shows fluctuating revenue and expenses, with declining assets but significantly reduced liabilities over time.
EIN: 201700622 · Elwood, IN · NTEE: S30 · Updated: 2026-03-28
Is Elwood Community Development Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Elwood Community Development Corporation directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Elwood Community Development Corporation
Elwood Community Development Corporation (EIN: 201700622) is a nonprofit organization based in Elwood, IN, classified under NTEE code S30. The organization reported total revenue of $211K and total assets of $1.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Elwood Community Development Corporation'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 Elwood Community Development Corporation with a Mission Score of 70 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Elwood Community Development Corporation allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% 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 or benefits are paid to its officers, which is highly unusual for an organization of its size and asset base and suggests a volunteer-led executive 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 Elwood Community Development Corporation's IRS 990 filings:
- Significant year-to-year revenue and expense volatility, as seen with a $339,574 deficit in 2022.
- Consistent decline in total assets over the filing period, from $1,916,295 in 2016 to $1,266,202 in 2023.
Strengths
The following positive indicators were identified for Elwood Community Development Corporation:
- Zero officer compensation reported across all filings, indicating a volunteer-driven model and potentially lower overhead.
- Dramatic reduction in liabilities from $614,872 in 2016 to $114 in 2023, demonstrating excellent debt management.
- Positive net income in 2023 ($212,775 revenue vs. $78,586 expenses).
Frequently Asked Questions about Elwood Community Development Corporation
Is Elwood Community Development Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Elwood Community Development Corporation (EIN: 201700622) some concerns. Mission Score: 70/100. 2 red flags identified, 3 strengths noted.
How does Elwood Community Development Corporation spend its money?
Elwood Community Development Corporation directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Elwood Community Development Corporation tax-deductible?
Elwood Community Development Corporation is registered as a tax-exempt nonprofit (EIN: 201700622). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Elwood Community Development Corporation financially stable?
The organization's financial stability is inconsistent. While it reported a surplus in 2023 ($212,775 revenue vs. $78,586 expenses), it incurred a significant deficit in 2022 ($47,679 revenue vs. $387,253 expenses). This volatility suggests potential challenges in consistent funding.
How has the organization's asset base changed?
Elwood Community Development Corporation's assets have generally declined from $1,916,295 in 2016 to $1,266,202 in 2023, representing a decrease of over $600,000 during this period.
What is the trend in the organization's liabilities?
The organization has significantly reduced its liabilities, from $614,872 in 2016 to a remarkably low $114 in 2023, indicating strong financial management in debt reduction.
Does the organization pay its officers?
No, all available IRS 990 filings for Elwood Community Development Corporation report 0% officer compensation, suggesting a volunteer-based leadership structure.
Filing History
IRS 990 filing history for Elwood Community Development Corporation showing financial trends over 6 years of public records:
Over 6 years of IRS 990 filings (2016–2023), Elwood Community Development Corporation's revenue has grown by 926%, moving from $21K to $213K. Total assets decreased by 33.9% over the same period, from $1.9M to $1.3M. Total functional expenses fell by 48.5%, from $152K to $79K. In its most recent filing year (2023), Elwood Community Development Corporation reported a surplus of $134K, with revenue exceeding expenses. The organization holds $114 in liabilities against $1.3M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $1.3M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $213K | $79K | $1.3M | $114 | — | — |
| 2022 | $48K | $387K | $1.4M | $142K | — | View 990 |
| 2021 | $218K | $124K | $1.8M | $190K | — | View 990 |
| 2018 | $22K | $119K | $1.7M | $565K | — | View 990 |
| 2017 | $46K | $139K | $1.8M | $589K | — | View 990 |
| 2016 | $21K | $152K | $1.9M | $615K | — | — |
Year-by-Year Financial Summary
- 2023: Revenue of $213K, expenses of $79K, and assets of $1.3M (revenue +346.3% year-over-year).
- 2022: Revenue of $48K, expenses of $387K, and assets of $1.4M (revenue -78.1% year-over-year).
- 2021: Revenue of $218K, expenses of $124K, and assets of $1.8M (revenue +888.1% year-over-year).
- 2018: Revenue of $22K, expenses of $119K, and assets of $1.7M (revenue -51.9% year-over-year).
- 2017: Revenue of $46K, expenses of $139K, and assets of $1.8M (revenue +121.0% year-over-year).
- 2016: Revenue of $21K, expenses of $152K, and assets of $1.9M.
Data Sources and Methodology
This transparency report for Elwood Community Development Corporation 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.