Friends Of Collegiate Academies Inc
EIN: 822266447 · New Orleans, LA · NTEE: B11
| Metric | Value |
|---|---|
| Total Revenue | $757K |
| Total Expenses | $693K |
| Net Assets | $364K |
Is Friends Of Collegiate Academies Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Friends Of Collegiate Academies Inc
Friends Of Collegiate Academies Inc (EIN: 822266447) is a nonprofit organization based in New Orleans, LA, classified under NTEE code B11. The organization reported total revenue of $757K and total assets of $9.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Friends Of Collegiate Academies Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Friends Of Collegiate Academies Inc is a small nonprofit that has been operating for 9 years, with 6 years of IRS 990 filings on record (2018–2023).
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $580K |
| Total Expenses | $693K |
| Surplus / Deficit | $-112,812 |
| Total Assets | $10.0M |
| Total Liabilities | $9.6M |
| Net Assets | $364K |
| Operating Margin | -19.4% |
| Debt-to-Asset Ratio | 96.3% |
| Months of Reserves | 172.7 months |
Financial Health Grade: C
In 2023, Friends Of Collegiate Academies Inc reported a deficit of $113K with expenses exceeding revenue, holds 172.7 months of operating reserves (strong position), has a debt-to-asset ratio of 96.3% (high leverage).
Financial Trends
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +0.3% | -0.7% | -2.3% |
| 2022 | +1.5% | -5.7% | -2.2% |
| 2021 | +59.0% | +23.1% | -2.3% |
| 2020 | -66.8% | +751.4% | +39.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2017 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Friends Of Collegiate Academies Inc has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Friends Of Collegiate Academies Inc with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $113K, with expenses exceeding revenue.
- Debt-to-asset ratio: 96.3%.
Frequently Asked Questions about Friends Of Collegiate Academies Inc
Is Friends Of Collegiate Academies Inc a legitimate charity?
Friends Of Collegiate Academies Inc (EIN: 822266447) is a registered tax-exempt nonprofit based in Louisiana. It has 6 years of IRS 990 filings on record. Total revenue: $757K. No red flags identified. Financial health grade: C.
How does Friends Of Collegiate Academies Inc spend its money?
Friends Of Collegiate Academies Inc reported $757K in total revenue in IRS 990 filings. 6 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Friends Of Collegiate Academies Inc tax-deductible?
Friends Of Collegiate Academies Inc is registered as a tax-exempt nonprofit (EIN: 822266447). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Friends Of Collegiate Academies Inc located?
Friends Of Collegiate Academies Inc is headquartered in New Orleans, Louisiana and files with the IRS under EIN 822266447. It is classified under NTEE code B11.
How many years of IRS 990 filings does Friends Of Collegiate Academies Inc have?
Friends Of Collegiate Academies Inc has 6 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 $757K in total revenue.
Filing History
IRS 990 filing history for Friends Of Collegiate Academies Inc showing financial trends over 6 years of public records:
Total assets increased by 1073338.4% over the same period, from $929 to $10.0M. Total functional expenses rose by 5775541.7%, from $12 to $693K. In its most recent filing year (2023), Friends Of Collegiate Academies Inc reported a deficit of $113K, with expenses exceeding revenue. The organization holds $9.6M in liabilities against $10.0M in assets (debt-to-asset ratio: 96.3%), resulting in net assets of $364K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $580K | $693K | $10.0M | $9.6M | — | View 990 |
| 2022 | $579K | $698K | $10.2M | $9.7M | — | View 990 |
| 2021 | $570K | $741K | $10.4M | $9.8M | — | View 990 |
| 2020 | $359K | $602K | $10.7M | $9.9M | — | View 990 |
| 2019 | $1.1M | $71K | $7.6M | $6.6M | — | View 990 |
| 2018 | $0 | $12 | $929 | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $580K, expenses of $693K, and assets of $10.0M (revenue +0.3% year-over-year).
- 2022: Revenue of $579K, expenses of $698K, and assets of $10.2M (revenue +1.5% year-over-year).
- 2021: Revenue of $570K, expenses of $741K, and assets of $10.4M (revenue +59.0% year-over-year).
- 2020: Revenue of $359K, expenses of $602K, and assets of $10.7M (revenue -66.8% year-over-year).
- 2019: Revenue of $1.1M, expenses of $71K, and assets of $7.6M.
- 2018: Revenue of $0, expenses of $12, and assets of $929.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Friends Of Collegiate Academies Inc:
Data Sources and Methodology
This transparency report for Friends Of Collegiate Academies 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.