Fidelis
Fidelis experiences significant revenue fluctuations and operational deficits in multiple years, despite asset growth.
EIN: 202603413 · Carmel, IN · NTEE: X22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $4.5M |
| Total Expenses | $4.9M |
| Program Spending | 80% |
| Net Assets | $2.5M |
| Transparency Score | 65/100 |
Is Fidelis Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Fidelis directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Fidelis
Fidelis (EIN: 202603413) is a nonprofit organization based in Carmel, IN, classified under NTEE code X22. The organization reported total revenue of $4.5M and total assets of $2.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Fidelis's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Fidelis is a mid-size nonprofit that has been operating for 21 years, with 11 years of IRS 990 filings on record (2011–2021). Revenue has grown at a compound annual rate of 12.9%.
Key Financial Metrics (2021)
From the most recent IRS 990 filing on record:
| Total Revenue | $4.8M |
| Total Expenses | $4.9M |
| Surplus / Deficit | $-166,010 |
| Total Assets | $2.6M |
| Total Liabilities | $121K |
| Net Assets | $2.5M |
| Operating Margin | -3.5% |
| Debt-to-Asset Ratio | 4.6% |
| Months of Reserves | 6.4 months |
Financial Health Grade: B
In 2021, Fidelis reported a deficit of $166K with expenses exceeding revenue, holds 6.4 months of operating reserves (strong position), has a debt-to-asset ratio of 4.6% (very low leverage).
Financial Trends
Over 11 years of filings (2011–2021), Fidelis's revenue has grown at a compound annual growth rate (CAGR) of 12.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2021 | -63.8% | -57.9% | -7.0% |
| 2020 | +220.3% | +265.4% | +115.5% |
| 2019 | +24.4% | +3.9% | +198.1% |
| 2018 | +38.1% | +17.0% | +68.8% |
| 2017 | -44.5% | -31.0% | -48.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 3000 |
| IRS Ruling Date | 2005 |
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 Fidelis 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: 80%
- fundraising: 5%
According to IRS 990 filings, Fidelis allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2021)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $166K, with expenses exceeding revenue.
- Debt-to-asset ratio: 4.6%.
Executive Compensation Analysis
Fidelis consistently reports 0% officer compensation across all available filings, which is unusual for an organization of its size and revenue, suggesting either a fully volunteer executive team or compensation being categorized differently.
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 Fidelis's IRS 990 filings:
- Significant revenue volatility, particularly the sharp drop from $13.1M in 2020 to $4.7M in 2021.
- Multiple years with expenses exceeding revenue (e.g., 2021, 2017, 2015, 2014, 2013), indicating operational deficits.
- Unexplained 'Officer Comp=0%' across all filings, which could obscure true administrative costs or leadership structure.
Strengths
The following positive indicators were identified for Fidelis:
- Consistent growth in assets, from $61,529 in 2015 to $2,636,949 in 2021, indicating increasing organizational capacity.
- Relatively low and stable liabilities compared to assets, suggesting good debt management.
- Long filing history (11 filings), indicating consistent compliance with IRS reporting requirements.
Frequently Asked Questions about Fidelis
Is Fidelis a legitimate charity?
Based on AI analysis of IRS 990 filings, Fidelis (EIN: 202603413) some concerns. Mission Score: 65/100. 3 red flags identified, 3 strengths noted.
How does Fidelis spend its money?
Fidelis directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Fidelis tax-deductible?
Fidelis is registered as a tax-exempt nonprofit (EIN: 202603413). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Fidelis's spending goes to programs?
Fidelis directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Fidelis compare to similar nonprofits?
With a transparency score of 65/100 (Good), Fidelis is above average for NTEE category X22 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Fidelis located?
Fidelis is headquartered in Carmel, Indiana and files with the IRS under EIN 202603413. It is classified under NTEE code X22.
How many years of IRS 990 filings does Fidelis have?
Fidelis has 11 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 $4.5M in total revenue.
What caused the significant revenue spike in 2020 and subsequent drop in 2021?
The 2020 revenue of $13,141,319 was an outlier compared to other years, which typically range from $2M-$4M. Understanding the source of this temporary increase and why it wasn't sustained is crucial for assessing future financial predictability.
How does Fidelis cover its operational deficits in years where expenses exceed revenue?
In 2021, expenses ($4,920,251) exceeded revenue ($4,754,241), and similar deficits occurred in 2017, 2015, 2014, and 2013. It's important to understand if these deficits are covered by reserves, prior year surpluses, or other funding mechanisms.
What is the nature of the 'Officer Comp=0%' reported across all filings?
The consistent reporting of zero officer compensation is highly unusual. It raises questions about whether executive leadership is entirely volunteer-based or if compensation is reported under other expense categories, impacting the true administrative cost.
Filing History
IRS 990 filing history for Fidelis showing financial trends over 11 years of public records:
Over 11 years of IRS 990 filings (2011–2021), Fidelis's revenue has grown by 236.5%, moving from $1.4M to $4.8M. Total assets increased by 1736.9% over the same period, from $144K to $2.6M. Total functional expenses rose by 250.3%, from $1.4M to $4.9M. In its most recent filing year (2021), Fidelis reported a deficit of $166K, with expenses exceeding revenue. The organization holds $121K in liabilities against $2.6M in assets (debt-to-asset ratio: 4.6%), resulting in net assets of $2.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2021 | $4.8M | $4.9M | $2.6M | $121K | — | View 990 |
| 2020 | $13.1M | $11.7M | $2.8M | $154K | — | View 990 |
| 2019 | $4.1M | $3.2M | $1.3M | $80K | — | — |
| 2018 | $3.3M | $3.1M | $442K | $106K | — | View 990 |
| 2017 | $2.4M | $2.6M | $262K | $141K | — | View 990 |
| 2016 | $4.3M | $3.8M | $510K | $143K | — | View 990 |
| 2015 | $2.0M | $2.2M | $62K | $177K | — | View 990 |
| 2014 | $3.5M | $3.5M | $201K | $180K | — | View 990 |
| 2013 | $3.3M | $3.5M | $226K | $152K | — | View 990 |
| 2012 | $4.3M | $4.1M | $383K | $194K | — | View 990 |
| 2011 | $1.4M | $1.4M | $144K | $170K | — | View 990 |
Year-by-Year Financial Summary
- 2021: Revenue of $4.8M, expenses of $4.9M, and assets of $2.6M (revenue -63.8% year-over-year).
- 2020: Revenue of $13.1M, expenses of $11.7M, and assets of $2.8M (revenue +220.3% year-over-year).
- 2019: Revenue of $4.1M, expenses of $3.2M, and assets of $1.3M (revenue +24.4% year-over-year).
- 2018: Revenue of $3.3M, expenses of $3.1M, and assets of $442K (revenue +38.1% year-over-year).
- 2017: Revenue of $2.4M, expenses of $2.6M, and assets of $262K (revenue -44.5% year-over-year).
- 2016: Revenue of $4.3M, expenses of $3.8M, and assets of $510K (revenue +111.0% year-over-year).
- 2015: Revenue of $2.0M, expenses of $2.2M, and assets of $62K (revenue -41.5% year-over-year).
- 2014: Revenue of $3.5M, expenses of $3.5M, and assets of $201K (revenue +4.1% year-over-year).
- 2013: Revenue of $3.3M, expenses of $3.5M, and assets of $226K (revenue -22.3% year-over-year).
- 2012: Revenue of $4.3M, expenses of $4.1M, and assets of $383K (revenue +205.1% year-over-year).
- 2011: Revenue of $1.4M, expenses of $1.4M, and assets of $144K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Fidelis:
Data Sources and Methodology
This transparency report for Fidelis 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.