Equip Inc
Equip Inc: Consistent Revenue, High Program Spending, and Strong Financial Health
EIN: 222452414 · Marion, NC · Updated: 2026-04-04
Is Equip Inc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Equip Inc directs 92% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Equip Inc
Equip Inc (EIN: 222452414) is a nonprofit organization based in Marion, NC. The organization reported total revenue of $2.8M and total assets of $2.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Equip 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 Equip Inc with a Mission Score of 85 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: 5%
- programs: 92%
- fundraising: 3%
According to IRS 990 filings, Equip Inc allocates its expenses as follows: admin: 5%, programs: 92%, fundraising: 3%. With 92% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
Executive compensation is reported as $0 across all available filings, indicating a volunteer-led or externally funded leadership 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.
Strengths
The following positive indicators were identified for Equip Inc:
- Consistently high percentage of expenses dedicated to programs (e.g., 92% in 2022).
- Strong financial health with assets consistently exceeding liabilities (e.g., $2,160,518 in assets vs. $19,281 in liabilities in 2022).
- Stable revenue generation over the past several years, demonstrating operational consistency.
- Low administrative and fundraising costs, maximizing impact per dollar.
- Zero reported executive compensation, suggesting a highly efficient and mission-driven leadership.
Frequently Asked Questions about Equip Inc
Is Equip Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Equip Inc (EIN: 222452414) appears legitimate. Mission Score: 85/100. 0 red flags identified, 5 strengths noted.
How does Equip Inc spend its money?
Equip Inc directs 92% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Equip Inc tax-deductible?
Equip Inc is registered as a tax-exempt nonprofit (EIN: 222452414). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What does Equip Inc do?
Equip Inc is a nonprofit organization in the Unknown sector, located in Marion, North Carolina. It is classified under NTEE code Unknown.
How much revenue does Equip Inc have?
Equip Inc reported total revenue of $2,796,461. Based on 12 IRS 990 filings on record.
What are Equip Inc's total assets?
Equip Inc holds total assets of $2,160,518 as reported in IRS 990 filings.
Where is Equip Inc located?
Equip Inc is based in Marion, North Carolina.
What is Equip Inc's EIN?
Equip Inc's Employer Identification Number (EIN) is 222452414. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Equip Inc?
Equip Inc is classified under NTEE code Unknown (Unknown).
Is Equip Inc a registered 501(c)(3)?
Equip Inc appears in IRS records (EIN: 222452414). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Equip Inc file IRS Form 990?
Yes, Equip Inc has 12 IRS Form 990 filings on record. The most recent covers tax period 202212.
What was Equip Inc's revenue in 2022?
In the 202212 filing period, Equip Inc reported total revenue of $2,243,844, total expenses of $2,073,821, and net assets of $2,104,201.
Is Equip Inc's revenue growing or declining?
Equip Inc's revenue is relatively stable. Revenue went from $2,203,795 (202112) to $2,243,844 (202212), a +1.8% change. Based on 12 filings on record.
What is Equip Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Equip Inc covers tax period 202212. It shows revenue of $2,243,844, expenses of $2,073,821, total assets of $2,104,201, and liabilities of $19,281.
How much does Equip Inc spend on programs vs administration?
Based on IRS 990 analysis, Equip Inc allocates approximately 92% of expenses to program services, 5% to administrative costs, and 3% to fundraising. This indicates strong program focus.
Is Equip Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Equip Inc appears trustworthy. Mission Score: 85/100 (Excellent). No red flags identified. 5 strengths noted.
What are Equip Inc's strengths?
Positive indicators for Equip Inc include: Consistently high percentage of expenses dedicated to programs (e.g., 92% in 2022).. Strong financial health with assets consistently exceeding liabilities (e.g., $2,160,518 in assets vs. $19,281 in liabilities in 2022).. Stable revenue generation over the past several years, demonstrating operational consistency.. Low administrative and fundraising costs, maximizing impact per dollar.. Zero reported executive compensation, suggesting a highly efficient and mission-driven leadership.. These findings are derived from AI analysis of the organization's financial filings.
How does Equip Inc compensate executives?
Executive compensation is reported as $0 across all available filings, indicating a volunteer-led or externally funded leadership structure. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How does Equip Inc manage to operate with $0 reported executive compensation, and what implications does this have for its long-term sustainability and leadership structure?
The consistent reporting of $0 executive compensation suggests a volunteer-led model or that leadership compensation is covered by an external entity. While this maximizes program spending, it raises questions about the long-term sustainability of leadership and potential reliance on unpaid labor or external grants for key personnel.
Given the consistent revenue and expenditure figures, what specific programs or services does Equip Inc provide that account for the majority of its program spending?
Based solely on the provided financial data, it's not possible to identify the specific programs or services. However, the high program spending (e.g., $2,073,821 in 2022) indicates a significant operational footprint in its mission area, which would require further investigation into their mission statement or program descriptions.
Filing History
IRS 990 filing history for Equip Inc showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2011–2022), Equip Inc's revenue has grown by 39.4%, moving from $1.6M to $2.2M. Total assets increased by 47.9% over the same period, from $1.4M to $2.1M. Total functional expenses rose by 38.2%, from $1.5M to $2.1M. In its most recent filing year (2022), Equip Inc reported a surplus of $170K, with revenue exceeding expenses. The organization holds $19K in liabilities against $2.1M in assets (debt-to-asset ratio: 0.9%), resulting in net assets of $2.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2022 | $2.2M | $2.1M | $2.1M | $19K | — | View 990 |
| 2021 | $2.2M | $2.2M | $1.9M | $6K | — | View 990 |
| 2020 | $2.2M | $1.9M | $1.9M | $4K | — | View 990 |
| 2019 | $1.8M | $1.7M | $1.7M | $21K | — | View 990 |
| 2018 | $2.1M | $2.0M | $1.6M | $16K | — | View 990 |
| 2017 | $1.8M | $1.9M | $1.5M | $27K | — | View 990 |
| 2016 | $1.8M | $1.6M | $1.6M | $19K | — | View 990 |
| 2015 | $1.8M | $1.8M | $1.4M | $33K | — | View 990 |
| 2014 | $1.8M | $1.6M | $1.4M | $13K | — | View 990 |
| 2013 | $1.7M | $1.7M | $1.4M | $6K | — | View 990 |
| 2012 | $1.5M | $1.6M | $1.3M | $5K | — | View 990 |
| 2011 | $1.6M | $1.5M | $1.4M | $6K | — | View 990 |
Year-by-Year Financial Summary
- 2022: Revenue of $2.2M, expenses of $2.1M, and assets of $2.1M (revenue +1.8% year-over-year).
- 2021: Revenue of $2.2M, expenses of $2.2M, and assets of $1.9M (revenue +1.9% year-over-year).
- 2020: Revenue of $2.2M, expenses of $1.9M, and assets of $1.9M (revenue +18.8% year-over-year).
- 2019: Revenue of $1.8M, expenses of $1.7M, and assets of $1.7M (revenue -13.4% year-over-year).
- 2018: Revenue of $2.1M, expenses of $2.0M, and assets of $1.6M (revenue +16.8% year-over-year).
- 2017: Revenue of $1.8M, expenses of $1.9M, and assets of $1.5M (revenue +2.7% year-over-year).
- 2016: Revenue of $1.8M, expenses of $1.6M, and assets of $1.6M (revenue -1.2% year-over-year).
- 2015: Revenue of $1.8M, expenses of $1.8M, and assets of $1.4M (revenue +0.4% year-over-year).
- 2014: Revenue of $1.8M, expenses of $1.6M, and assets of $1.4M (revenue +1.5% year-over-year).
- 2013: Revenue of $1.7M, expenses of $1.7M, and assets of $1.4M (revenue +13.4% year-over-year).
- 2012: Revenue of $1.5M, expenses of $1.6M, and assets of $1.3M (revenue -4.7% year-over-year).
- 2011: Revenue of $1.6M, expenses of $1.5M, and assets of $1.4M.
Data Sources and Methodology
This transparency report for Equip 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.