Gym Rats Inc
EIN: 351909952 · Fort Wayne, IN · NTEE: N62Z
| Metric | Value |
|---|---|
| Total Revenue | $114K |
| Total Expenses | $226K |
| Net Assets | $-36,188 |
Is Gym Rats Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Gym Rats Inc
Gym Rats Inc (EIN: 351909952) is a nonprofit organization based in Fort Wayne, IN, classified under NTEE code N62Z. The organization reported total revenue of $114K and total assets of $6K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Gym Rats Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Gym Rats Inc is a small nonprofit that has been operating for 30 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -0.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $126K |
| Total Expenses | $226K |
| Surplus / Deficit | $-100,540 |
| Total Assets | $14K |
| Total Liabilities | $50K |
| Net Assets | $-36,188 |
| Operating Margin | -80.0% |
| Debt-to-Asset Ratio | 362.0% |
| Months of Reserves | 0.7 months |
Financial Health Grade: D
In 2023, Gym Rats Inc reported a deficit of $101K with expenses exceeding revenue, holds 0.7 months of operating reserves (limited), has a debt-to-asset ratio of 362.0% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Gym Rats Inc's revenue has declined at a compound annual growth rate (CAGR) of -0.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -94.4% | -89.3% | -78.5% |
| 2022 | +1162.3% | +769.4% | -0.5% |
| 2021 | +103.0% | +299.6% | +293.1% |
| 2019 | -136.9% | -23.4% | -98.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1996 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Gym Rats 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 Gym Rats 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 $101K, with expenses exceeding revenue.
- Debt-to-asset ratio: 362.0%.
Frequently Asked Questions about Gym Rats Inc
Is Gym Rats Inc a legitimate charity?
Gym Rats Inc (EIN: 351909952) is a registered tax-exempt nonprofit based in Indiana. It has 13 years of IRS 990 filings on record. Total revenue: $114K. No red flags identified. Financial health grade: D.
How does Gym Rats Inc spend its money?
Gym Rats Inc reported $114K in total revenue in IRS 990 filings. 13 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Gym Rats Inc tax-deductible?
Gym Rats Inc is registered as a tax-exempt nonprofit (EIN: 351909952). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Gym Rats Inc located?
Gym Rats Inc is headquartered in Fort Wayne, Indiana and files with the IRS under EIN 351909952. It is classified under NTEE code N62Z.
How many years of IRS 990 filings does Gym Rats Inc have?
Gym Rats Inc 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 $114K in total revenue.
Filing History
IRS 990 filing history for Gym Rats Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Gym Rats Inc's revenue has declined by 9.1%, moving from $138K to $126K. Total assets decreased by 97.9% over the same period, from $673K to $14K. Total functional expenses rose by 40.6%, from $161K to $226K. In its most recent filing year (2023), Gym Rats Inc reported a deficit of $101K, with expenses exceeding revenue. The organization holds $50K in liabilities against $14K in assets (debt-to-asset ratio: 362.0%), resulting in net assets of $-36,188.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $126K | $226K | $14K | $50K | — | — |
| 2022 | $2.2M | $2.1M | $64K | $0 | — | View 990 |
| 2021 | $177K | $244K | $65K | $115K | — | View 990 |
| 2020 | $87K | $61K | $16K | $0 | — | View 990 |
| 2019 | $-34,103 | $96K | $3K | $12K | — | View 990 |
| 2018 | $92K | $125K | $128K | $8K | — | View 990 |
| 2017 | $845K | $841K | $405K | $130K | — | View 990 |
| 2016 | $755K | $773K | $414K | $130K | — | View 990 |
| 2015 | $740K | $751K | $448K | $130K | — | View 990 |
| 2014 | $76K | $138K | $474K | $130K | — | View 990 |
| 2013 | $81K | $115K | $552K | $130K | — | View 990 |
| 2012 | $75K | $109K | $609K | $130K | — | View 990 |
| 2011 | $138K | $161K | $673K | $141K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $126K, expenses of $226K, and assets of $14K (revenue -94.4% year-over-year).
- 2022: Revenue of $2.2M, expenses of $2.1M, and assets of $64K (revenue +1162.3% year-over-year).
- 2021: Revenue of $177K, expenses of $244K, and assets of $65K (revenue +103.0% year-over-year).
- 2020: Revenue of $87K, expenses of $61K, and assets of $16K.
- 2019: Revenue of $-34,103, expenses of $96K, and assets of $3K (revenue -136.9% year-over-year).
- 2018: Revenue of $92K, expenses of $125K, and assets of $128K (revenue -89.1% year-over-year).
- 2017: Revenue of $845K, expenses of $841K, and assets of $405K (revenue +12.0% year-over-year).
- 2016: Revenue of $755K, expenses of $773K, and assets of $414K (revenue +1.9% year-over-year).
- 2015: Revenue of $740K, expenses of $751K, and assets of $448K (revenue +869.2% year-over-year).
- 2014: Revenue of $76K, expenses of $138K, and assets of $474K (revenue -5.2% year-over-year).
- 2013: Revenue of $81K, expenses of $115K, and assets of $552K (revenue +7.4% year-over-year).
- 2012: Revenue of $75K, expenses of $109K, and assets of $609K (revenue -45.7% year-over-year).
- 2011: Revenue of $138K, expenses of $161K, and assets of $673K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Gym Rats Inc:
Data Sources and Methodology
This transparency report for Gym Rats 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.