Greater Torrington Family Development Center Inc

Is Greater Torrington Family Development Center Inc Legit?

Appears Legitimate

Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →

Greater Torrington Family Development Center Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.

About Greater Torrington Family Development Center Inc

Greater Torrington Family Development Center Inc (EIN: 202651857) is a nonprofit organization based in Torrington, CT, classified under NTEE code B90. The organization reported total revenue of $693K and total assets of $153K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Greater Torrington Family Development Center Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Greater Torrington Family Development Center 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, Greater Torrington Family Development Center 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.

Executive Compensation Analysis

The organization consistently reports 0% officer compensation across all available filings, indicating that no funds are allocated to executive salaries, which is highly favorable for directing resources to its mission.

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.

Strengths

The following positive indicators were identified for Greater Torrington Family Development Center Inc:

• Consistent 0% officer compensation, indicating high program focus.
• Significant reduction in liabilities from $171,871 in 201506 to $14,784 in 202406.
• Growth in assets from $16,566 in 201506 to $153,045 in 202406.
• Consistent filing of IRS Form 990s over 13 periods, demonstrating transparency.
• Generally stable operations with revenues often exceeding or closely matching expenses.

Frequently Asked Questions about Greater Torrington Family Development Center Inc

Filing History

IRS 990 filing history for Greater Torrington Family Development Center Inc showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2012–2024), Greater Torrington Family Development Center Inc's revenue has grown by 63.2%, moving from $399K to $651K. Total assets increased by 1635.8% over the same period, from $9K to $153K. Total functional expenses rose by 64.4%, from $406K to $667K. In its most recent filing year (2024), Greater Torrington Family Development Center Inc reported a deficit of $16K, with expenses exceeding revenue. The organization holds $15K in liabilities against $153K in assets (debt-to-asset ratio: 9.7%), resulting in net assets of $138K.

Year-by-Year Financial Summary

• 2024: Revenue of $651K, expenses of $667K, and assets of $153K (revenue -7.2% year-over-year).
• 2023: Revenue of $702K, expenses of $715K, and assets of $191K (revenue -4.7% year-over-year).
• 2022: Revenue of $737K, expenses of $605K, and assets of $239K (revenue +14.7% year-over-year).
• 2021: Revenue of $642K, expenses of $472K, and assets of $142K (revenue +84.6% year-over-year).
• 2020: Revenue of $348K, expenses of $360K, and assets of $25K (revenue -23.5% year-over-year).
• 2019: Revenue of $455K, expenses of $440K, and assets of $34K (revenue +10.4% year-over-year).
• 2018: Revenue of $412K, expenses of $417K, and assets of $25K (revenue -6.9% year-over-year).
• 2017: Revenue of $443K, expenses of $433K, and assets of $18K (revenue +3.0% year-over-year).
• 2016: Revenue of $430K, expenses of $417K, and assets of $23K (revenue +28.6% year-over-year).
• 2015: Revenue of $334K, expenses of $333K, and assets of $17K (revenue -9.4% year-over-year).
• 2014: Revenue of $369K, expenses of $375K, and assets of $18K (revenue -7.0% year-over-year).
• 2013: Revenue of $397K, expenses of $398K, and assets of $12K (revenue -0.5% year-over-year).
• 2012: Revenue of $399K, expenses of $406K, and assets of $9K.

Data Sources and Methodology

This transparency report for Greater Torrington Family Development Center 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.