Faithworks Inc
Faithworks Inc. consistently operates with no reported officer compensation and maintains stable finances.
EIN: 10551546 · Winchester, VA · NTEE: L122 · Updated: 2026-03-27
Is Faithworks Inc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Faithworks Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Faithworks Inc
Faithworks Inc (EIN: 10551546) is a nonprofit organization based in Winchester, VA, classified under NTEE code L122. The organization reported total revenue of $330K and total assets of $57K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Faithworks 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 Faithworks 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, Faithworks 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.
Executive Compensation Analysis
Faithworks Inc. consistently reports 0% officer compensation across all 11 available filings, indicating that its leadership is either entirely volunteer or compensated through non-officer roles, which is highly favorable for donor confidence.
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 Faithworks Inc:
- Consistent 0% officer compensation reported across all filings, indicating strong volunteer leadership or efficient compensation structures.
- No reported liabilities in the two most recent filings (202312 and 202212), suggesting a healthy balance sheet.
- Revenues generally exceed or closely match expenses, demonstrating sound financial management and avoiding significant deficits (e.g., 202312 revenue $258,053 vs. expenses $249,791).
- Positive asset growth in recent years, from $18,501 in 202212 to $26,763 in 202312.
Frequently Asked Questions about Faithworks Inc
Is Faithworks Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Faithworks Inc (EIN: 10551546) appears legitimate. Mission Score: 90/100. 0 red flags identified, 4 strengths noted.
How does Faithworks Inc spend its money?
Faithworks Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Faithworks Inc tax-deductible?
Faithworks Inc is registered as a tax-exempt nonprofit (EIN: 10551546). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Faithworks Inc. financially stable?
Yes, Faithworks Inc. appears financially stable. In 202312, revenues ($258,053) exceeded expenses ($249,791), and the organization reported no liabilities. Assets have also shown growth in recent years, from $18,501 in 202212 to $26,763 in 202312.
Does Faithworks Inc. compensate its officers?
No, Faithworks Inc. consistently reports 0% officer compensation in all available IRS 990 filings, including the latest for 202312.
What is the trend in Faithworks Inc.'s assets?
Faithworks Inc.'s assets have fluctuated over time. While there were higher asset values in earlier years (e.g., $364,213 in 201612), recent years show a positive trend, increasing from $18,501 in 202212 to $26,763 in 202312, and reaching $64,926 in 202112.
Filing History
IRS 990 filing history for Faithworks Inc showing financial trends over 11 years of public records:
Over 11 years of IRS 990 filings (2011–2023), Faithworks Inc's revenue has grown by 274.8%, moving from $69K to $258K. Total assets increased by 576.2% over the same period, from $4K to $27K. Total functional expenses rose by 507.2%, from $41K to $250K. In its most recent filing year (2023), Faithworks Inc reported a surplus of $8K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $258K | $250K | $27K | $0 | — | — |
| 2022 | $231K | $267K | $19K | $0 | — | View 990 |
| 2021 | $474K | $467K | $65K | $11K | — | View 990 |
| 2020 | $563K | $543K | $52K | $5K | — | — |
| 2019 | $168K | $197K | $33K | $6K | — | — |
| 2018 | $149K | $175K | $234K | $178K | — | View 990 |
| 2017 | $179K | $120K | $261K | $179K | — | View 990 |
| 2016 | $130K | $115K | $364K | $341K | — | View 990 |
| 2015 | $65K | $70K | $348K | $335K | — | View 990 |
| 2014 | $140K | $130K | $18K | $76 | — | View 990 |
| 2011 | $69K | $41K | $4K | $1K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $258K, expenses of $250K, and assets of $27K (revenue +11.8% year-over-year).
- 2022: Revenue of $231K, expenses of $267K, and assets of $19K (revenue -51.3% year-over-year).
- 2021: Revenue of $474K, expenses of $467K, and assets of $65K (revenue -15.9% year-over-year).
- 2020: Revenue of $563K, expenses of $543K, and assets of $52K (revenue +234.9% year-over-year).
- 2019: Revenue of $168K, expenses of $197K, and assets of $33K (revenue +12.6% year-over-year).
- 2018: Revenue of $149K, expenses of $175K, and assets of $234K (revenue -16.5% year-over-year).
- 2017: Revenue of $179K, expenses of $120K, and assets of $261K (revenue +37.6% year-over-year).
- 2016: Revenue of $130K, expenses of $115K, and assets of $364K (revenue +98.4% year-over-year).
- 2015: Revenue of $65K, expenses of $70K, and assets of $348K (revenue -53.2% year-over-year).
- 2014: Revenue of $140K, expenses of $130K, and assets of $18K (revenue +103.1% year-over-year).
- 2011: Revenue of $69K, expenses of $41K, and assets of $4K.
Data Sources and Methodology
This transparency report for Faithworks 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.