Hartford Next Inc
Hartford Next Inc shows consistent revenue growth and strong asset accumulation with no reported officer compensation.
EIN: 203241226 · Hartford, CT · NTEE: S20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $244K |
| Total Expenses | $116K |
| Program Spending | 85% |
| Net Assets | $174K |
| Transparency Score | 90/100 |
Is Hartford Next Inc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Hartford Next Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Hartford Next Inc
Hartford Next Inc (EIN: 203241226) is a nonprofit organization based in Hartford, CT, classified under NTEE code S20. The organization reported total revenue of $244K and total assets of $238K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Hartford Next Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Hartford Next Inc is a small nonprofit that has been operating for 20 years, with 5 years of IRS 990 filings on record (2014–2023). Revenue has grown at a compound annual rate of 11.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $182K |
| Total Expenses | $116K |
| Surplus / Deficit | +$66K |
| Total Assets | $174K |
| Net Assets | $174K |
| Operating Margin | 36.2% |
| Months of Reserves | 17.9 months |
Financial Health Grade: A
In 2023, Hartford Next Inc reported a surplus of $66K with revenue exceeding expenses, holds 17.9 months of operating reserves (strong position).
Financial Trends
Over 5 years of filings (2014–2023), Hartford Next Inc's revenue has grown at a compound annual growth rate (CAGR) of 11.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +77.2% | +137.6% | +61.0% |
| 2022 | -6.6% | -49.6% | +212.3% |
| 2016 | +56.0% | +56.4% | +26.1% |
| 2015 | +3.3% | +6.3% | +82.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2006 |
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 Hartford Next 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, Hartford Next 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 surplus of $66K, with revenue exceeding expenses.
Executive Compensation Analysis
Hartford Next Inc consistently reports 0% officer compensation across all available filings, indicating that executive leadership is either entirely volunteer-based or compensated through other means not classified as officer pay, which is highly favorable for directing funds to programs.
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 Hartford Next Inc:
- Consistent revenue growth from $68,200 in 2014 to $181,852 in 2023.
- Significant asset accumulation, growing from $15,016 in 2014 to $237,931 currently.
- Zero reported officer compensation across all filings, indicating high efficiency in directing funds to mission.
- Consistently low or zero liabilities, demonstrating strong financial stability.
- Expenses consistently lower than revenue, allowing for healthy asset growth.
Frequently Asked Questions about Hartford Next Inc
Is Hartford Next Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Hartford Next Inc (EIN: 203241226) appears legitimate. Mission Score: 90/100. 0 red flags identified, 5 strengths noted.
How does Hartford Next Inc spend its money?
Hartford Next Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Hartford Next Inc tax-deductible?
Hartford Next Inc is registered as a tax-exempt nonprofit (EIN: 203241226). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Hartford Next Inc's spending goes to programs?
Hartford Next Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Hartford Next Inc compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), Hartford Next Inc is above average for NTEE category S20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Hartford Next Inc located?
Hartford Next Inc is headquartered in Hartford, Connecticut and files with the IRS under EIN 203241226. It is classified under NTEE code S20.
How many years of IRS 990 filings does Hartford Next Inc have?
Hartford Next Inc has 5 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 $244K in total revenue.
How does Hartford Next Inc manage to operate without reporting officer compensation?
The consistent reporting of 0% officer compensation suggests that the organization's leadership may be entirely volunteer-based, or that any compensation provided to executives falls under other expense categories not classified as officer compensation on the 990 form.
What specific programs does Hartford Next Inc fund with its growing revenue?
The provided data does not detail specific programs. To understand this, one would need to review the full IRS 990 form, particularly Schedule O, or the organization's annual reports and website.
Is the recent dip in revenue from $243,686 to $181,852 a concern?
While the latest reported period shows $243,686 in revenue, the most recent filing (Period 202312) shows $181,852. This is still a significant increase from previous years and does not necessarily indicate a concern, but rather a fluctuation. The overall trend remains positive.
Filing History
IRS 990 filing history for Hartford Next Inc showing financial trends over 5 years of public records:
Over 5 years of IRS 990 filings (2014–2023), Hartford Next Inc's revenue has grown by 166.6%, moving from $68K to $182K. Total assets increased by 1055.8% over the same period, from $15K to $174K. Total functional expenses rose by 99.3%, from $58K to $116K. In its most recent filing year (2023), Hartford Next Inc reported a surplus of $66K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $182K | $116K | $174K | $0 | — | — |
| 2022 | $103K | $49K | $108K | $0 | — | View 990 |
| 2016 | $110K | $97K | $35K | $2K | — | View 990 |
| 2015 | $70K | $62K | $27K | $4K | — | View 990 |
| 2014 | $68K | $58K | $15K | $427 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $182K, expenses of $116K, and assets of $174K (revenue +77.2% year-over-year).
- 2022: Revenue of $103K, expenses of $49K, and assets of $108K (revenue -6.6% year-over-year).
- 2016: Revenue of $110K, expenses of $97K, and assets of $35K (revenue +56.0% year-over-year).
- 2015: Revenue of $70K, expenses of $62K, and assets of $27K (revenue +3.3% year-over-year).
- 2014: Revenue of $68K, expenses of $58K, and assets of $15K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Hartford Next Inc:
Data Sources and Methodology
This transparency report for Hartford Next 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.