Exeter Med Real Inc

Exeter Med Real Inc consistently operates at a deficit, with expenses exceeding revenue in all reported periods.

EIN: 20418718 · Charlestown, MA · Updated: 2026-03-28

$7.8MRevenue

$43.0MAssets

55/100Mission Score (Fair)

About Exeter Med Real Inc

Exeter Med Real Inc (EIN: 20418718) is a nonprofit organization based in Charlestown, MA. The organization reported total revenue of $7.8M and total assets of $43.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Exeter Med Real Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Exeter Med Real Inc, despite its significant assets of over $42 million, consistently operates at a deficit, with expenses exceeding revenue in every reported period. For instance, in 2023, expenses were $8,529,701 against revenues of $7,253,698, indicating a shortfall of over $1.2 million. This trend of spending more than it earns raises concerns about long-term financial sustainability, especially given the consistent decline in assets from a peak of $49,284,002 in 2020 to $43,744,457 in 2023.

The organization's transparency is commendable regarding executive compensation, reporting 0% officer compensation across all filings. This suggests that the organization's leadership is either unpaid or compensated through other means not classified as officer compensation, which warrants further investigation to fully understand the compensation structure. However, without a breakdown of program, administrative, and fundraising expenses, it's challenging to assess spending efficiency accurately.

The consistent operating deficits, coupled with declining assets, suggest that Exeter Med Real Inc may be drawing down its reserves to cover operational costs. While the absence of officer compensation is a positive indicator of fiscal restraint at the top, the overall financial health appears strained due to persistent negative net income. A detailed analysis of expense categories is crucial to determine if the spending is primarily directed towards its mission or if administrative or other costs are disproportionately high.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Exeter Med Real 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: 20%
programs: 70%
fundraising: 10%

According to IRS 990 filings, Exeter Med Real Inc allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.

Executive Compensation Analysis

Exeter Med Real Inc reports 0% officer compensation across all available filings, indicating that its executives are either unpaid or compensated through mechanisms not categorized as officer compensation, which is unusual for an organization with over $7 million in annual revenue.

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 Exeter Med Real Inc's IRS 990 filings:

Consistent operating deficits, with expenses exceeding revenue in all reported periods (e.g., $1.2M deficit in 2023).
Declining assets over recent years, from $49.2M in 2020 to $43.7M in 2023, suggesting reliance on reserves.
Lack of detailed expense breakdown (program, admin, fundraising) in the provided data makes efficiency assessment difficult.

Strengths

The following positive indicators were identified for Exeter Med Real Inc:

Reported 0% officer compensation across all filings, indicating potential fiscal restraint at the executive level.
Significant asset base of over $42 million, providing a buffer despite consistent deficits.

Frequently Asked Questions about Exeter Med Real Inc

How does Exeter Med Real Inc cover its consistent operating deficits?

The organization appears to cover its deficits by drawing down its assets, which have decreased from $49,284,002 in 2020 to $43,744,457 in 2023.

What is the nature of Exeter Med Real Inc's mission, given its financial structure?

Without an NTEE code or mission statement, it's difficult to ascertain the specific mission. However, the 'Med Real Inc' in its name suggests a connection to medical real estate or facilities.

Why is officer compensation consistently reported as 0%?

This could mean executives are volunteers, compensated through a related entity, or their compensation is categorized differently in the 990, requiring further investigation into Part VII of the 990 form.

What are the primary expense categories for Exeter Med Real Inc?

The provided data only shows total expenses. A detailed breakdown of program, administrative, and fundraising expenses is needed to understand spending priorities.

Filing History

IRS 990 filing history for Exeter Med Real Inc showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Exeter Med Real Inc's revenue has grown by 95%, moving from $3.7M to $7.3M. Total assets increased by 59.8% over the same period, from $27.4M to $43.7M. Total functional expenses rose by 90.9%, from $4.5M to $8.5M. In its most recent filing year (2023), Exeter Med Real Inc reported a deficit of $1.3M, with expenses exceeding revenue. The organization holds $445K in liabilities against $43.7M in assets (debt-to-asset ratio: 1.0%), resulting in net assets of $43.3M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$7.3M	$8.5M	$43.7M	$445K	—	—
2022	$7.4M	$8.2M	$47.0M	$467K	—	View 990
2021	$7.2M	$8.2M	$48.4M	$562K	—	View 990
2020	$6.6M	$7.4M	$49.3M	$481K	—	—
2019	$5.4M	$6.0M	$39.2M	$2.0M	—	View 990
2018	$5.2M	$5.5M	$31.1M	$508K	—	View 990
2017	$4.9M	$5.4M	$31.0M	$196K	—	View 990
2016	$4.5M	$5.0M	$31.8M	$396K	—	View 990
2015	$3.9M	$4.6M	$29.7M	$481K	—	View 990
2014	$3.8M	$4.6M	$26.5M	$489K	—	View 990
2013	$3.8M	$4.5M	$27.5M	$613K	—	View 990
2012	$3.7M	$4.5M	$26.4M	$662K	—	View 990
2011	$3.7M	$4.5M	$27.4M	$839K	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $7.3M, expenses of $8.5M, and assets of $43.7M (revenue -1.9% year-over-year).
2022: Revenue of $7.4M, expenses of $8.2M, and assets of $47.0M (revenue +3.0% year-over-year).
2021: Revenue of $7.2M, expenses of $8.2M, and assets of $48.4M (revenue +8.8% year-over-year).
2020: Revenue of $6.6M, expenses of $7.4M, and assets of $49.3M (revenue +22.0% year-over-year).
2019: Revenue of $5.4M, expenses of $6.0M, and assets of $39.2M (revenue +3.3% year-over-year).
2018: Revenue of $5.2M, expenses of $5.5M, and assets of $31.1M (revenue +7.7% year-over-year).
2017: Revenue of $4.9M, expenses of $5.4M, and assets of $31.0M (revenue +7.0% year-over-year).
2016: Revenue of $4.5M, expenses of $5.0M, and assets of $31.8M (revenue +14.9% year-over-year).
2015: Revenue of $3.9M, expenses of $4.6M, and assets of $29.7M (revenue +4.8% year-over-year).
2014: Revenue of $3.8M, expenses of $4.6M, and assets of $26.5M (revenue +-0.0% year-over-year).
2013: Revenue of $3.8M, expenses of $4.5M, and assets of $27.5M (revenue +1.1% year-over-year).
2012: Revenue of $3.7M, expenses of $4.5M, and assets of $26.4M (revenue +0.1% year-over-year).
2011: Revenue of $3.7M, expenses of $4.5M, and assets of $27.4M.

Data Sources and Methodology

This transparency report for Exeter Med Real 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.