Friends Of Stead Park Inc
Friends Of Stead Park Inc shows strong asset growth and no executive compensation, but experienced a significant deficit in 2023.
EIN: 201739684 · Washington, DC · NTEE: N32 · Updated: 2026-03-28
Is Friends Of Stead Park Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Friends Of Stead Park Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Friends Of Stead Park Inc
Friends Of Stead Park Inc (EIN: 201739684) is a nonprofit organization based in Washington, DC, classified under NTEE code N32. The organization reported total revenue of $435K and total assets of $1.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Friends Of Stead Park Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Friends Of Stead Park Inc is a small nonprofit that has been operating for 19 years, with 11 years of IRS 990 filings on record (2013–2023). Revenue has grown at a compound annual rate of -12.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $35K |
| Total Expenses | $97K |
| Surplus / Deficit | $-62,458 |
| Total Assets | $958K |
| Net Assets | $958K |
| Operating Margin | -178.3% |
| Months of Reserves | 118.0 months |
Financial Health Grade: B
In 2023, Friends Of Stead Park Inc reported a deficit of $62K with expenses exceeding revenue, holds 118.0 months of operating reserves (strong position).
Financial Trends
Over 11 years of filings (2013–2023), Friends Of Stead Park Inc's revenue has declined at a compound annual growth rate (CAGR) of -12.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -92.0% | -49.8% | -6.0% |
| 2022 | +22.4% | -59.4% | +31.6% |
| 2021 | +20.4% | +503.4% | -13.4% |
| 2020 | +16.1% | -48.5% | +32.5% |
| 2019 | +0.7% | -45.2% | +17.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2007 |
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 Friends Of Stead Park Inc with a Mission Score of 90 out of 100 (Excellent). 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: 85%
- fundraising: 5%
According to IRS 990 filings, Friends Of Stead Park Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% 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 $62K, with expenses exceeding revenue.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that the organization's leadership is entirely volunteer-based. This is highly commendable for an organization with assets exceeding $1.2 million, demonstrating a strong commitment to directing funds towards its mission rather than administrative salaries.
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 Friends Of Stead Park Inc's IRS 990 filings:
- Significant deficit in 2023 ($62,458, with expenses of $97,484 against revenue of $35,026)
- Volatile annual revenue, with a sharp drop in the latest period
Strengths
The following positive indicators were identified for Friends Of Stead Park Inc:
- Consistent 0% officer compensation across all filings, indicating volunteer leadership
- Strong asset growth, reaching over $1.2 million
- Consistently low or zero liabilities, demonstrating sound financial management
- Clear mission alignment with NTEE code N32 (Parks and Recreation)
Frequently Asked Questions about Friends Of Stead Park Inc
Is Friends Of Stead Park Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Friends Of Stead Park Inc (EIN: 201739684) some concerns. Mission Score: 90/100. 2 red flags identified, 4 strengths noted.
How does Friends Of Stead Park Inc spend its money?
Friends Of Stead Park Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Friends Of Stead Park Inc tax-deductible?
Friends Of Stead Park Inc is registered as a tax-exempt nonprofit (EIN: 201739684). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Friends Of Stead Park Inc a good charity?
Based on the available data, Friends Of Stead Park Inc appears to be a good charity. It demonstrates strong asset growth, minimal liabilities, and a commendable absence of executive compensation, indicating efficient use of funds. The consistent program focus implied by its name and NTEE code, coupled with its financial health, suggests a well-managed organization.
What caused the significant revenue drop and deficit in 2023?
The IRS 990 data shows a sharp decline in revenue from $439,863 in 2022 to $35,026 in 2023, while expenses remained relatively high at $97,484. This resulted in a deficit for the 2023 period. Further investigation into the specific activities or funding sources for 2023 would be needed to understand the cause of this anomaly.
How does the organization sustain itself without officer compensation?
The consistent reporting of 0% officer compensation across all filings suggests that the organization relies on volunteer leadership. This model can be highly efficient, allowing a greater proportion of funds to be directed towards programs. It implies a dedicated board and operational staff who are not compensated through salaries.
Filing History
IRS 990 filing history for Friends Of Stead Park Inc showing financial trends over 11 years of public records:
Over 11 years of IRS 990 filings (2013–2023), Friends Of Stead Park Inc's revenue has declined by 73.1%, moving from $130K to $35K. Total assets increased by 1336.2% over the same period, from $67K to $958K. Total functional expenses rose by 47.8%, from $66K to $97K. In its most recent filing year (2023), Friends Of Stead Park Inc reported a deficit of $62K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $35K | $97K | $958K | $0 | — | View 990 |
| 2022 | $440K | $194K | $1.0M | $171 | — | — |
| 2021 | $359K | $478K | $775K | $0 | — | — |
| 2020 | $298K | $79K | $894K | $10 | — | View 990 |
| 2019 | $257K | $154K | $675K | $0 | — | View 990 |
| 2018 | $255K | $281K | $572K | $600 | — | View 990 |
| 2017 | $282K | $102K | $612K | $15K | — | View 990 |
| 2016 | $287K | $89K | $418K | $0 | — | View 990 |
| 2015 | $229K | $59K | $223K | $3K | — | View 990 |
| 2014 | $315K | $331K | $60K | $10K | — | View 990 |
| 2013 | $130K | $66K | $67K | $595 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $35K, expenses of $97K, and assets of $958K (revenue -92.0% year-over-year).
- 2022: Revenue of $440K, expenses of $194K, and assets of $1.0M (revenue +22.4% year-over-year).
- 2021: Revenue of $359K, expenses of $478K, and assets of $775K (revenue +20.4% year-over-year).
- 2020: Revenue of $298K, expenses of $79K, and assets of $894K (revenue +16.1% year-over-year).
- 2019: Revenue of $257K, expenses of $154K, and assets of $675K (revenue +0.7% year-over-year).
- 2018: Revenue of $255K, expenses of $281K, and assets of $572K (revenue -9.5% year-over-year).
- 2017: Revenue of $282K, expenses of $102K, and assets of $612K (revenue -1.7% year-over-year).
- 2016: Revenue of $287K, expenses of $89K, and assets of $418K (revenue +25.3% year-over-year).
- 2015: Revenue of $229K, expenses of $59K, and assets of $223K (revenue -27.3% year-over-year).
- 2014: Revenue of $315K, expenses of $331K, and assets of $60K (revenue +142.0% year-over-year).
- 2013: Revenue of $130K, expenses of $66K, and assets of $67K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Friends Of Stead Park Inc:
Data Sources and Methodology
This transparency report for Friends Of Stead Park 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.