Farms International Inc
Farms International Inc: Declining Revenue, High Expenses, and Negative Net Assets Raise Concerns
EIN: 221776920 · Duluth, MN · NTEE: Q320 · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $253K |
| Total Expenses | $249K |
| Program Spending | 70% |
| Net Assets | $36K |
| Transparency Score | 65/100 |
Is Farms International Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Farms International Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Farms International Inc
Farms International Inc (EIN: 221776920) is a nonprofit organization based in Duluth, MN, classified under NTEE code Q320. The organization reported total revenue of $253K and total assets of $64K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Farms International Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Farms International Inc is a small nonprofit that has been operating for 59 years, with 14 years of IRS 990 filings on record (2011–2024). Revenue has grown at a compound annual rate of 2.7%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $256K |
| Total Expenses | $249K |
| Surplus / Deficit | +$7K |
| Total Assets | $55K |
| Total Liabilities | $19K |
| Net Assets | $36K |
| Operating Margin | 2.9% |
| Debt-to-Asset Ratio | 34.4% |
| Months of Reserves | 2.7 months |
Financial Health Grade: A
In 2024, Farms International Inc reported a surplus of $7K with revenue exceeding expenses, holds 2.7 months of operating reserves (limited), has a debt-to-asset ratio of 34.4% (moderate leverage).
Financial Trends
Over 14 years of filings (2011–2024), Farms International Inc's revenue has grown at a compound annual growth rate (CAGR) of 2.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +40.6% | -2.2% | +67.4% |
| 2023 | -11.3% | +7.1% | -67.6% |
| 2022 | +14.1% | +60.5% | -24.3% |
| 2021 | -12.4% | +13.7% | +27.1% |
| 2020 | +36.4% | -15.7% | +284.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 7200 |
| IRS Ruling Date | 1967 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Farms International Inc with a Mission Score of 65 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: 70%
- fundraising: 15%
According to IRS 990 filings, Farms International Inc allocates its expenses as follows: admin: 15%, programs: 70%, fundraising: 15%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $7K, with revenue exceeding expenses.
- Debt-to-asset ratio: 34.4%.
Executive Compensation Analysis
Executive compensation details are not explicitly provided in the given financial data, making a direct assessment impossible without further information.
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 Farms International Inc's IRS 990 filings:
- Consistent negative net assets across multiple years (e.g., 2024: -$19,016, 2023: -$4,082, 2017: -$62,800) indicate a persistent inability to cover liabilities with assets.
- Expenses consistently outpace revenue (e.g., 2024: revenue $255,824 vs. expenses $248,503; 2023: revenue $181,887 vs. expenses $254,145), suggesting an unsustainable financial model.
- Significant increase in liabilities from $798 in 2022 to $19,016 in 2024 raises concerns about growing debt burden.
- Cash on hand has decreased by over 50% from $134,783 in 2021 to $55,289 in 2024, potentially impacting operational stability.
- The organization's assets have declined from $134,783 in 2021 to $55,289 in 2024, while liabilities have increased, worsening the overall financial position.
Strengths
The following positive indicators were identified for Farms International Inc:
- Despite financial challenges, the organization has maintained operations for several years, indicating resilience.
- Revenue has shown some recovery in 2024 ($255,824) compared to 2023 ($181,887), suggesting potential for improvement.
Frequently Asked Questions about Farms International Inc
Is Farms International Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Farms International Inc (EIN: 221776920) some concerns. Mission Score: 65/100. 5 red flags identified, 2 strengths noted.
How does Farms International Inc spend its money?
Farms International Inc directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Farms International Inc tax-deductible?
Farms International Inc is registered as a tax-exempt nonprofit (EIN: 221776920). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Farms International Inc's spending goes to programs?
Farms International Inc directs 70% to programs, 15% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
How does Farms International Inc compare to similar nonprofits?
With a transparency score of 65/100 (Good), Farms International Inc is above average for NTEE category Q320 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Farms International Inc located?
Farms International Inc is headquartered in Duluth, Minnesota and files with the IRS under EIN 221776920. It is classified under NTEE code Q320.
How many years of IRS 990 filings does Farms International Inc have?
Farms International Inc has 14 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $253K in total revenue.
What does Farms International Inc do?
Farms International Inc is a nonprofit organization in the International & Foreign Affairs sector, located in Duluth, Minnesota. It is classified under NTEE code Q320.
How much revenue does Farms International Inc have?
Farms International Inc reported total revenue of $253,049. Based on 14 IRS 990 filings on record.
What are Farms International Inc's total assets?
Farms International Inc holds total assets of $64,105 as reported in IRS 990 filings.
Where is Farms International Inc located?
Farms International Inc is based in Duluth, Minnesota.
What is Farms International Inc's EIN?
Farms International Inc's Employer Identification Number (EIN) is 221776920. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Farms International Inc?
Farms International Inc is classified under NTEE code Q320 (International & Foreign Affairs).
Is Farms International Inc a registered 501(c)(3)?
Yes, Farms International Inc is recognized as a tax-exempt organization by the IRS. EIN: 221776920.
Does Farms International Inc file IRS Form 990?
Yes, Farms International Inc has 14 IRS Form 990 filings on record. The most recent covers tax period 202405.
What was Farms International Inc's revenue in 2024?
In the 202405 filing period, Farms International Inc reported total revenue of $255,824, total expenses of $248,503, and net assets of $55,289.
Is Farms International Inc's revenue growing or declining?
Farms International Inc's revenue is growing. Revenue went from $181,887 (202305) to $255,824 (202405), a +40.6% change. Based on 14 filings on record.
What is Farms International Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Farms International Inc covers tax period 202405. It shows revenue of $255,824, expenses of $248,503, total assets of $55,289, and liabilities of $19,016.
How much does Farms International Inc spend on programs vs administration?
Based on IRS 990 analysis, Farms International Inc allocates approximately 70% of expenses to program services, 15% to administrative costs, and 15% to fundraising. Program spending is moderate relative to overhead.
Is Farms International Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Farms International Inc shows mixed signals. Mission Score: 65/100 (Good). 5 red flags identified. 2 strengths noted.
What are the red flags for Farms International Inc?
The following concerns were identified: Consistent negative net assets across multiple years (e.g., 2024: -$19,016, 2023: -$4,082, 2017: -$62,800) indicate a persistent inability to cover liabilities with assets.. Expenses consistently outpace revenue (e.g., 2024: revenue $255,824 vs. expenses $248,503; 2023: revenue $181,887 vs. expenses $254,145), suggesting an unsustainable financial model.. Significant increase in liabilities from $798 in 2022 to $19,016 in 2024 raises concerns about growing debt burden.. Cash on hand has decreased by over 50% from $134,783 in 2021 to $55,289 in 2024, potentially impacting operational stability.. The organization's assets have declined from $134,783 in 2021 to $55,289 in 2024, while liabilities have increased, worsening the overall financial position.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Farms International Inc's strengths?
Positive indicators for Farms International Inc include: Despite financial challenges, the organization has maintained operations for several years, indicating resilience.. Revenue has shown some recovery in 2024 ($255,824) compared to 2023 ($181,887), suggesting potential for improvement.. These findings are derived from AI analysis of the organization's financial filings.
How does Farms International Inc compensate executives?
Executive compensation details are not explicitly provided in the given financial data, making a direct assessment impossible without further information. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the consistent negative net assets and expenses exceeding revenue, what specific strategies are being implemented to achieve financial sustainability and reverse the trend of increasing liabilities?
The provided data does not detail specific strategies, but the consistent financial deficits suggest a need for a comprehensive plan to either increase revenue significantly or drastically reduce operational expenses to achieve long-term viability.
How does the organization plan to address the substantial increase in liabilities from $798 in 2022 to $19,016 in 2024, and what is the nature of these new liabilities?
The data indicates a sharp rise in liabilities, but the specific nature (e.g., loans, accounts payable) is not disclosed. Understanding the composition of these liabilities is crucial for assessing the organization's financial risk and repayment capacity.
Filing History
IRS 990 filing history for Farms International Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2024), Farms International Inc's revenue has grown by 41.2%, moving from $181K to $256K. Total assets increased by 362.4% over the same period, from $12K to $55K. Total functional expenses rose by 27.5%, from $195K to $249K. In its most recent filing year (2024), Farms International Inc reported a surplus of $7K, with revenue exceeding expenses. The organization holds $19K in liabilities against $55K in assets (debt-to-asset ratio: 34.4%), resulting in net assets of $36K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $256K | $249K | $55K | $19K | — | — |
| 2023 | $182K | $254K | $33K | $4K | — | View 990 |
| 2022 | $205K | $237K | $102K | $798 | — | View 990 |
| 2021 | $180K | $148K | $135K | $1K | — | — |
| 2020 | $205K | $130K | $106K | $4K | — | View 990 |
| 2019 | $150K | $154K | $28K | $871 | — | View 990 |
| 2018 | $179K | $112K | $33K | $3K | — | View 990 |
| 2017 | $210K | $233K | $27K | $63K | — | View 990 |
| 2016 | $163K | $151K | $66K | $79K | — | View 990 |
| 2015 | $178K | $171K | $69K | $93K | — | View 990 |
| 2014 | $177K | $184K | $9K | $40K | — | View 990 |
| 2013 | $184K | $185K | $26K | $49K | — | View 990 |
| 2012 | $173K | $186K | $10K | $32K | — | View 990 |
| 2011 | $181K | $195K | $12K | $22K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $256K, expenses of $249K, and assets of $55K (revenue +40.6% year-over-year).
- 2023: Revenue of $182K, expenses of $254K, and assets of $33K (revenue -11.3% year-over-year).
- 2022: Revenue of $205K, expenses of $237K, and assets of $102K (revenue +14.1% year-over-year).
- 2021: Revenue of $180K, expenses of $148K, and assets of $135K (revenue -12.4% year-over-year).
- 2020: Revenue of $205K, expenses of $130K, and assets of $106K (revenue +36.4% year-over-year).
- 2019: Revenue of $150K, expenses of $154K, and assets of $28K (revenue -16.0% year-over-year).
- 2018: Revenue of $179K, expenses of $112K, and assets of $33K (revenue -14.8% year-over-year).
- 2017: Revenue of $210K, expenses of $233K, and assets of $27K (revenue +28.8% year-over-year).
- 2016: Revenue of $163K, expenses of $151K, and assets of $66K (revenue -8.2% year-over-year).
- 2015: Revenue of $178K, expenses of $171K, and assets of $69K (revenue +0.5% year-over-year).
- 2014: Revenue of $177K, expenses of $184K, and assets of $9K (revenue -4.1% year-over-year).
- 2013: Revenue of $184K, expenses of $185K, and assets of $26K (revenue +6.5% year-over-year).
- 2012: Revenue of $173K, expenses of $186K, and assets of $10K (revenue -4.5% year-over-year).
- 2011: Revenue of $181K, expenses of $195K, and assets of $12K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Farms International Inc:
Data Sources and Methodology
This transparency report for Farms International 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.