Fidec Inc
Fidec Inc. shows highly volatile financial performance with significant deficits in recent years despite zero officer compensation.
EIN: 134186589 · Coral Gables, FL · NTEE: G80 · Updated: 2026-03-28
Is Fidec Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Fidec Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Fidec Inc
Fidec Inc (EIN: 134186589) is a nonprofit organization based in Coral Gables, FL, classified under NTEE code G80. The organization reported total revenue of $1.2M and total assets of $4.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Fidec Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Fidec Inc is a mid-size nonprofit that has been operating for 24 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -1.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $338K |
| Total Expenses | $3.7M |
| Surplus / Deficit | $-3,392,546 |
| Total Assets | $8.4M |
| Total Liabilities | $32K |
| Net Assets | $8.4M |
| Operating Margin | -1005.1% |
| Debt-to-Asset Ratio | 0.4% |
| Months of Reserves | 27.0 months |
Financial Health Grade: B
In 2023, Fidec Inc reported a deficit of $3.4M with expenses exceeding revenue, holds 27.0 months of operating reserves (strong position), has a debt-to-asset ratio of 0.4% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Fidec Inc's revenue has declined at a compound annual growth rate (CAGR) of -1.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -94.2% | -16.8% | -29.5% |
| 2022 | +13.5% | +79.7% | +11.1% |
| 2021 | +380.5% | -8.9% | +32.8% |
| 2020 | -86.7% | -72.7% | -14.6% |
| 2019 | -19.0% | +60.1% | -12.4% |
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 Fidec 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: 10%
- programs: 80%
- fundraising: 10%
According to IRS 990 filings, Fidec Inc allocates its expenses as follows: admin: 10%, programs: 80%, fundraising: 10%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $3.4M, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.4%.
Executive Compensation Analysis
Fidec Inc. consistently reports 0% officer compensation across all available filings, indicating that no portion of its expenses is allocated to executive salaries, which is highly unusual for an organization of its size with assets reaching over $11 million in some years.
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 Fidec Inc's IRS 990 filings:
- Highly inconsistent revenue and expense patterns, leading to significant deficits in multiple years (e.g., $3,392,546 deficit in 2023).
- Dramatic year-over-year revenue decline from $5,811,379 in 2022 to $337,536 in 2023.
- Expenses significantly exceeding revenue in recent periods, indicating potential financial strain (e.g., 2023 expenses were over 10 times revenue).
Strengths
The following positive indicators were identified for Fidec Inc:
- Consistent reporting of 0% officer compensation, indicating a commitment to minimizing executive overhead.
- Significant asset base, reaching over $11 million in 2022, which could provide a buffer during lean years.
- Demonstrated ability to generate substantial revenue in certain years (e.g., $9.9 million in 2018, $8 million in 2019, $5.8 million in 2022).
Frequently Asked Questions about Fidec Inc
Is Fidec Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Fidec Inc (EIN: 134186589) some concerns. Mission Score: 65/100. 3 red flags identified, 3 strengths noted.
How does Fidec Inc spend its money?
Fidec Inc directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Fidec Inc tax-deductible?
Fidec Inc is registered as a tax-exempt nonprofit (EIN: 134186589). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Fidec Inc. financially stable given the large deficits in certain years?
Fidec Inc. has experienced significant financial instability in certain years, notably a $3,392,546 deficit in 2023 (Expenses $3,730,082 vs. Revenue $337,536) and a $1,999,414 deficit in 2019 (Expenses $10,022,000 vs. Revenue $8,021,586). While other years show surpluses, these large deficits raise concerns about long-term sustainability.
How does Fidec Inc. manage its expenses during periods of low revenue?
The filings do not provide a detailed breakdown of expense categories to fully answer this. However, the substantial deficits in years like 2023 suggest that expenses were not adequately adjusted to match the significantly lower revenue, leading to a substantial draw on assets or increased liabilities.
What is the reason for the 0% officer compensation across all filings?
The filings consistently report 0% officer compensation. This could indicate that officers are volunteers, compensated through other means not classified as 'officer compensation' on the 990, or that the organization has a unique operational structure. Further investigation into their governance documents would be needed for a definitive answer.
What caused the significant drop in revenue from $5.8 million in 2022 to $337,536 in 2023?
The IRS 990 data alone does not specify the reasons for such drastic year-over-year revenue fluctuations. This significant drop from $5,811,379 in 2022 to $337,536 in 2023 is a major concern and would require reviewing the organization's financial statements and narrative explanations for context.
Filing History
IRS 990 filing history for Fidec Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Fidec Inc's revenue has declined by 14.2%, moving from $393K to $338K. Total assets increased by 10979.5% over the same period, from $76K to $8.4M. Total functional expenses rose by 549.9%, from $574K to $3.7M. In its most recent filing year (2023), Fidec Inc reported a deficit of $3.4M, with expenses exceeding revenue. The organization holds $32K in liabilities against $8.4M in assets (debt-to-asset ratio: 0.4%), resulting in net assets of $8.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $338K | $3.7M | $8.4M | $32K | — | View 990 |
| 2022 | $5.8M | $4.5M | $11.9M | $146K | — | — |
| 2021 | $5.1M | $2.5M | $10.7M | $304K | — | View 990 |
| 2020 | $1.1M | $2.7M | $8.1M | $286K | — | — |
| 2019 | $8.0M | $10.0M | $9.4M | $715K | — | View 990 |
| 2018 | $9.9M | $6.3M | $10.8M | $53K | — | View 990 |
| 2017 | $5.8M | $2.6M | $7.1M | $11K | — | View 990 |
| 2016 | $3.4M | $3.5M | $3.9M | $0 | — | View 990 |
| 2015 | $4.7M | $3.0M | $4.0M | $0 | — | View 990 |
| 2014 | $274K | $4.6M | $2.2M | $0 | — | View 990 |
| 2013 | $3.7M | $6.7M | $6.6M | $0 | — | View 990 |
| 2012 | $10.5M | $1.1M | $9.5M | $0 | — | View 990 |
| 2011 | $393K | $574K | $76K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $338K, expenses of $3.7M, and assets of $8.4M (revenue -94.2% year-over-year).
- 2022: Revenue of $5.8M, expenses of $4.5M, and assets of $11.9M (revenue +13.5% year-over-year).
- 2021: Revenue of $5.1M, expenses of $2.5M, and assets of $10.7M (revenue +380.5% year-over-year).
- 2020: Revenue of $1.1M, expenses of $2.7M, and assets of $8.1M (revenue -86.7% year-over-year).
- 2019: Revenue of $8.0M, expenses of $10.0M, and assets of $9.4M (revenue -19.0% year-over-year).
- 2018: Revenue of $9.9M, expenses of $6.3M, and assets of $10.8M (revenue +71.5% year-over-year).
- 2017: Revenue of $5.8M, expenses of $2.6M, and assets of $7.1M (revenue +70.4% year-over-year).
- 2016: Revenue of $3.4M, expenses of $3.5M, and assets of $3.9M (revenue -27.4% year-over-year).
- 2015: Revenue of $4.7M, expenses of $3.0M, and assets of $4.0M (revenue +1603.2% year-over-year).
- 2014: Revenue of $274K, expenses of $4.6M, and assets of $2.2M (revenue -92.7% year-over-year).
- 2013: Revenue of $3.7M, expenses of $6.7M, and assets of $6.6M (revenue -64.6% year-over-year).
- 2012: Revenue of $10.5M, expenses of $1.1M, and assets of $9.5M (revenue +2580.7% year-over-year).
- 2011: Revenue of $393K, expenses of $574K, and assets of $76K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Fidec Inc:
Data Sources and Methodology
This transparency report for Fidec 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.