Fayette Street Project
Fayette Street Project consistently operates with a negative net asset position, relying on debt despite volunteer leadership.
EIN: 20530226 · Concord, NH · NTEE: L20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $77K |
| Total Expenses | $95K |
| Program Spending | 90% |
| Net Assets | $-51,877 |
| Transparency Score | 70/100 |
Is Fayette Street Project Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Fayette Street Project directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Fayette Street Project
Fayette Street Project (EIN: 20530226) is a nonprofit organization based in Concord, NH, classified under NTEE code L20. The organization reported total revenue of $77K and total assets of $396K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Fayette Street Project's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Fayette Street Project is a micro nonprofit that has been operating for 24 years, with 14 years of IRS 990 filings on record (2011–2024). Revenue has grown at a compound annual rate of 2.0%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $72K |
| Total Expenses | $95K |
| Surplus / Deficit | $-23,376 |
| Total Assets | $403K |
| Total Liabilities | $454K |
| Net Assets | $-51,877 |
| Operating Margin | -32.4% |
| Debt-to-Asset Ratio | 112.9% |
| Months of Reserves | 50.6 months |
Financial Health Grade: C
In 2024, Fayette Street Project reported a deficit of $23K with expenses exceeding revenue, holds 50.6 months of operating reserves (strong position), has a debt-to-asset ratio of 112.9% (high leverage).
Financial Trends
Over 14 years of filings (2011–2024), Fayette Street Project's revenue has grown at a compound annual growth rate (CAGR) of 2.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | -35.6% | +25.1% | -11.6% |
| 2023 | +73.8% | +6.2% | +18.1% |
| 2022 | +4.7% | +16.9% | -0.1% |
| 2021 | -4.2% | -3.6% | -0.3% |
| 2020 | +6.7% | -3.5% | +0.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2002 |
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 Fayette Street Project 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: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Fayette Street Project allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $23K, with expenses exceeding revenue.
- Debt-to-asset ratio: 112.9%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all filings, indicating that leadership positions are likely filled by volunteers, which significantly reduces administrative costs and directs more funds towards the mission.
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 Fayette Street Project's IRS 990 filings:
- Consistent negative net asset position (e.g., 202406: Assets=$402,509, Liabilities=$454,386)
- Expenses frequently exceed revenue (e.g., 202406: Revenue=$72,082, Expenses=$95,458)
- High liabilities relative to assets across multiple periods
Strengths
The following positive indicators were identified for Fayette Street Project:
- Consistent filing history demonstrating transparency (14 filings)
- 0% officer compensation, indicating volunteer leadership and low administrative overhead
- Stable revenue generation over the past decade, averaging around $60,000-$70,000 annually
Frequently Asked Questions about Fayette Street Project
Is Fayette Street Project a legitimate charity?
Fayette Street Project (EIN: 20530226) is a registered tax-exempt nonprofit based in New Hampshire. Our AI analysis gives it a Mission Score of 70/100. It has 14 years of IRS 990 filings on record. Total revenue: $77K. 3 red flags identified. 3 strengths noted. Financial health grade: C.
How does Fayette Street Project spend its money?
Fayette Street Project directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Fayette Street Project tax-deductible?
Fayette Street Project is registered as a tax-exempt nonprofit (EIN: 20530226). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Fayette Street Project compare to similar nonprofits?
With a transparency score of 70/100 (Good), Fayette Street Project is above average for NTEE category L20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Fayette Street Project located?
Fayette Street Project is headquartered in Concord, New Hampshire and files with the IRS under EIN 20530226. It is classified under NTEE code L20.
How many years of IRS 990 filings does Fayette Street Project have?
Fayette Street Project 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 $77K in total revenue.
Is Fayette Street Project financially sustainable long-term given its consistent negative net assets?
The consistent reporting of liabilities exceeding assets, such as $454,386 in liabilities against $402,509 in assets in 202406, raises concerns about long-term financial sustainability. While volunteer leadership helps, the organization appears to be operating with a structural deficit or significant debt.
What is the nature of the organization's liabilities?
Without further detail from the IRS 990 filings beyond the summary provided, the specific nature of the high liabilities (e.g., mortgages, program-related investments, or other debt) cannot be determined. This is a critical area for further investigation.
How does the organization manage to operate with recurring deficits?
The organization likely manages recurring deficits through a combination of drawing down on reserves (if any, though net assets are negative), managing cash flow carefully, or potentially through in-kind donations and volunteer labor that are not fully reflected as expenses or revenue in the same way.
Filing History
IRS 990 filing history for Fayette Street Project showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2024), Fayette Street Project's revenue has grown by 29.4%, moving from $56K to $72K. Total assets decreased by 13.8% over the same period, from $467K to $403K. Total functional expenses rose by 57.4%, from $61K to $95K. In its most recent filing year (2024), Fayette Street Project reported a deficit of $23K, with expenses exceeding revenue. The organization holds $454K in liabilities against $403K in assets (debt-to-asset ratio: 112.9%), resulting in net assets of $-51,877.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $72K | $95K | $403K | $454K | — | — |
| 2023 | $112K | $76K | $455K | $484K | — | — |
| 2022 | $64K | $72K | $385K | $450K | — | View 990 |
| 2021 | $62K | $62K | $386K | $443K | — | — |
| 2020 | $64K | $64K | $387K | $444K | — | View 990 |
| 2019 | $60K | $66K | $387K | $444K | — | View 990 |
| 2018 | $62K | $117K | $390K | $441K | — | View 990 |
| 2017 | $64K | $73K | $445K | $441K | — | View 990 |
| 2016 | $63K | $63K | $454K | $441K | — | View 990 |
| 2015 | $58K | $63K | $454K | $441K | — | View 990 |
| 2014 | $58K | $58K | $459K | $441K | — | View 990 |
| 2013 | $59K | $57K | $460K | $441K | — | View 990 |
| 2012 | $54K | $58K | $461K | $445K | — | View 990 |
| 2011 | $56K | $61K | $467K | $447K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $72K, expenses of $95K, and assets of $403K (revenue -35.6% year-over-year).
- 2023: Revenue of $112K, expenses of $76K, and assets of $455K (revenue +73.8% year-over-year).
- 2022: Revenue of $64K, expenses of $72K, and assets of $385K (revenue +4.7% year-over-year).
- 2021: Revenue of $62K, expenses of $62K, and assets of $386K (revenue -4.2% year-over-year).
- 2020: Revenue of $64K, expenses of $64K, and assets of $387K (revenue +6.7% year-over-year).
- 2019: Revenue of $60K, expenses of $66K, and assets of $387K (revenue -2.5% year-over-year).
- 2018: Revenue of $62K, expenses of $117K, and assets of $390K (revenue -3.5% year-over-year).
- 2017: Revenue of $64K, expenses of $73K, and assets of $445K (revenue +2.1% year-over-year).
- 2016: Revenue of $63K, expenses of $63K, and assets of $454K (revenue +8.2% year-over-year).
- 2015: Revenue of $58K, expenses of $63K, and assets of $454K (revenue +0.2% year-over-year).
- 2014: Revenue of $58K, expenses of $58K, and assets of $459K (revenue -1.3% year-over-year).
- 2013: Revenue of $59K, expenses of $57K, and assets of $460K (revenue +8.4% year-over-year).
- 2012: Revenue of $54K, expenses of $58K, and assets of $461K (revenue -3.1% year-over-year).
- 2011: Revenue of $56K, expenses of $61K, and assets of $467K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Fayette Street Project:
Data Sources and Methodology
This transparency report for Fayette Street Project 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.