Granite State Independent Living
Granite State Independent Living shows consistent revenue growth and positive net income over the past decade.
EIN: 20350170 · Concord, NH · NTEE: P8XZ · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $28.6M |
| Total Expenses | $20.8M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $20 |
| Net Assets | $10.7M |
| Transparency Score | 88/100 |
Is Granite State Independent Living Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Granite State Independent Living directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Granite State Independent Living
Granite State Independent Living (EIN: 20350170) is a nonprofit organization based in Concord, NH, classified under NTEE code P8XZ. The organization reported total revenue of $28.6M and total assets of $15.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Granite State Independent Living's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Granite State Independent Living is a large nonprofit that has been operating for 46 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 2.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $22.3M |
| Total Expenses | $20.8M |
| Surplus / Deficit | +$1.6M |
| Total Assets | $15.6M |
| Total Liabilities | $4.9M |
| Net Assets | $10.7M |
| Operating Margin | 7.1% |
| Debt-to-Asset Ratio | 31.3% |
| Months of Reserves | 9.0 months |
Financial Health Grade: A
In 2023, Granite State Independent Living reported a surplus of $1.6M with revenue exceeding expenses, holds 9.0 months of operating reserves (strong position), has a debt-to-asset ratio of 31.3% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Granite State Independent Living's revenue has grown at a compound annual growth rate (CAGR) of 2.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +14.8% | +16.1% | -11.8% |
| 2022 | +4.9% | +1.3% | +104.3% |
| 2021 | -4.5% | -6.0% | +1.8% |
| 2020 | +5.1% | +0.0% | +15.3% |
| 2019 | -8.3% | -8.0% | -6.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1980 |
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 Granite State Independent Living with a Mission Score of 88 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, Granite State Independent Living 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 surplus of $1.6M, with revenue exceeding expenses.
- Debt-to-asset ratio: 31.3%.
Executive Compensation Analysis
The provided data consistently shows 0% for 'Officer Comp' across all filings, which is unusual for an organization of this size with revenues exceeding $20 million. This suggests that executive compensation might be reported under other expense categories or that the organization has a unique compensation structure, warranting further investigation into the full IRS 990 forms.
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 Granite State Independent Living's IRS 990 filings:
- Lack of specific breakdown for program, administrative, and fundraising expenses in provided data
- Consistent 0% reported for 'Officer Comp' for an organization of this size, requiring further scrutiny
Strengths
The following positive indicators were identified for Granite State Independent Living:
- Consistent revenue growth over the past decade (from $15.8M in 2014 to $22.3M in 2023)
- Positive net income consistently reported, with revenues exceeding expenses in most years
- Strong and growing asset base ($15.6M in 2023) indicating financial health
- Manageable liabilities relative to assets ($4.8M liabilities vs. $15.6M assets in 2023)
- Long and consistent IRS 990 filing history (13 filings), indicating good compliance
Frequently Asked Questions about Granite State Independent Living
Is Granite State Independent Living a legitimate charity?
Based on AI analysis of IRS 990 filings, Granite State Independent Living (EIN: 20350170) some concerns. Mission Score: 88/100. 2 red flags identified, 5 strengths noted.
How does Granite State Independent Living spend its money?
Granite State Independent Living directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Granite State Independent Living tax-deductible?
Granite State Independent Living is registered as a tax-exempt nonprofit (EIN: 20350170). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Granite State Independent Living CEO make?
Granite State Independent Living's highest-compensated officer earns $20 annually. The organization reported $28.6M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Granite State Independent Living's spending goes to programs?
Granite State Independent Living directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Granite State Independent Living compare to similar nonprofits?
With a transparency score of 88/100 (Excellent), Granite State Independent Living is above average for NTEE category P8XZ nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Granite State Independent Living located?
Granite State Independent Living is headquartered in Concord, New Hampshire and files with the IRS under EIN 20350170. It is classified under NTEE code P8XZ.
How many years of IRS 990 filings does Granite State Independent Living have?
Granite State Independent Living has 13 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 $28.6M in total revenue.
Is Granite State Independent Living financially stable?
Yes, Granite State Independent Living appears financially stable. Their revenue has consistently grown from $15.8 million in 2014 to $22.3 million in 2023, and they have consistently reported positive net income, with assets growing to $15.6 million in 2023.
How has the organization's asset base changed over time?
The organization's assets have shown significant growth, increasing from $5.9 million in 2014 to $15.6 million in 2023. There was a notable jump from $8.6 million in 2021 to $17.7 million in 2022.
What is the trend in their revenue and expenses?
Both revenue and expenses have shown an upward trend over the past decade. Revenue increased from $15.8 million in 2014 to $22.3 million in 2023, while expenses rose from $15.8 million to $20.7 million over the same period, consistently maintaining a positive margin.
Why is officer compensation reported as 0%?
The consistent reporting of 0% for 'Officer Comp' across all filings is unusual for an organization of this scale. It suggests that executive compensation might be categorized differently within their financial statements or that the organization operates with a unique compensation model, requiring a deeper dive into their full 990 forms for clarity.
Filing History
IRS 990 filing history for Granite State Independent Living showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Granite State Independent Living's revenue has grown by 30.3%, moving from $17.1M to $22.3M. Total assets increased by 150.1% over the same period, from $6.3M to $15.6M. Total functional expenses rose by 24.5%, from $16.7M to $20.8M. In its most recent filing year (2023), Granite State Independent Living reported a surplus of $1.6M, with revenue exceeding expenses. The organization holds $4.9M in liabilities against $15.6M in assets (debt-to-asset ratio: 31.3%), resulting in net assets of $10.7M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $22.3M | $20.8M | $15.6M | $4.9M | — | View 990 |
| 2022 | $19.5M | $17.9M | $17.7M | $8.6M | — | — |
| 2021 | $18.6M | $17.7M | $8.7M | $930K | — | View 990 |
| 2020 | $19.4M | $18.8M | $8.5M | $1.8M | — | View 990 |
| 2019 | $18.5M | $18.8M | $7.4M | $1.4M | — | View 990 |
| 2018 | $20.2M | $20.4M | $7.9M | $1.6M | — | View 990 |
| 2017 | $20.1M | $19.8M | $8.0M | $1.5M | — | View 990 |
| 2016 | $18.7M | $17.9M | $8.4M | $2.1M | — | View 990 |
| 2015 | $17.2M | $16.7M | $6.8M | $1.2M | — | View 990 |
| 2014 | $15.8M | $15.8M | $6.0M | $1.0M | — | View 990 |
| 2013 | $15.6M | $15.6M | $6.2M | $1.2M | — | View 990 |
| 2012 | $16.0M | $15.9M | $6.2M | $1.3M | — | View 990 |
| 2011 | $17.1M | $16.7M | $6.3M | $1.3M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $22.3M, expenses of $20.8M, and assets of $15.6M (revenue +14.8% year-over-year).
- 2022: Revenue of $19.5M, expenses of $17.9M, and assets of $17.7M (revenue +4.9% year-over-year).
- 2021: Revenue of $18.6M, expenses of $17.7M, and assets of $8.7M (revenue -4.5% year-over-year).
- 2020: Revenue of $19.4M, expenses of $18.8M, and assets of $8.5M (revenue +5.1% year-over-year).
- 2019: Revenue of $18.5M, expenses of $18.8M, and assets of $7.4M (revenue -8.3% year-over-year).
- 2018: Revenue of $20.2M, expenses of $20.4M, and assets of $7.9M (revenue +0.1% year-over-year).
- 2017: Revenue of $20.1M, expenses of $19.8M, and assets of $8.0M (revenue +7.8% year-over-year).
- 2016: Revenue of $18.7M, expenses of $17.9M, and assets of $8.4M (revenue +8.5% year-over-year).
- 2015: Revenue of $17.2M, expenses of $16.7M, and assets of $6.8M (revenue +8.8% year-over-year).
- 2014: Revenue of $15.8M, expenses of $15.8M, and assets of $6.0M (revenue +1.8% year-over-year).
- 2013: Revenue of $15.6M, expenses of $15.6M, and assets of $6.2M (revenue -2.4% year-over-year).
- 2012: Revenue of $16.0M, expenses of $15.9M, and assets of $6.2M (revenue -6.9% year-over-year).
- 2011: Revenue of $17.1M, expenses of $16.7M, and assets of $6.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Granite State Independent Living:
Data Sources and Methodology
This transparency report for Granite State Independent Living 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.