Hobgood Academy Inc
EIN: 560940857 · Hobgood, NC
| Metric | Value |
|---|---|
| Total Revenue | $179K |
| Total Expenses | $217K |
| Net Assets | $19K |
Is Hobgood Academy Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Hobgood Academy Inc
Hobgood Academy Inc (EIN: 560940857) is a nonprofit organization based in Hobgood, NC. The organization reported total revenue of $179K and total assets of $10K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Hobgood Academy Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Hobgood Academy Inc is a small nonprofit that has been operating for 55 years, with 13 years of IRS 990 filings on record (2012–2024). Revenue has grown at a compound annual rate of -12.8%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $190K |
| Total Expenses | $217K |
| Surplus / Deficit | $-26,659 |
| Total Assets | $26K |
| Total Liabilities | $7K |
| Net Assets | $19K |
| Operating Margin | -14.0% |
| Debt-to-Asset Ratio | 25.6% |
| Months of Reserves | 1.5 months |
Financial Health Grade: C
In 2024, Hobgood Academy Inc reported a deficit of $27K with expenses exceeding revenue, holds 1.5 months of operating reserves (limited), has a debt-to-asset ratio of 25.6% (moderate leverage).
Financial Trends
Over 13 years of filings (2012–2024), Hobgood Academy Inc's revenue has declined at a compound annual growth rate (CAGR) of -12.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +10.0% | -22.4% | -56.1% |
| 2023 | -20.6% | +27.5% | -64.1% |
| 2022 | +13.4% | +2.7% | -0.4% |
| 2021 | +9.3% | -14.0% | -25.2% |
| 2020 | -64.9% | -60.9% | -26.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1971 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Hobgood Academy 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 Hobgood Academy 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 (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $27K, with expenses exceeding revenue.
- Debt-to-asset ratio: 25.6%.
Frequently Asked Questions about Hobgood Academy Inc
Is Hobgood Academy Inc a legitimate charity?
Hobgood Academy Inc (EIN: 560940857) is a registered tax-exempt nonprofit based in North Carolina. It has 13 years of IRS 990 filings on record. Total revenue: $179K. No red flags identified. Financial health grade: C.
How does Hobgood Academy Inc spend its money?
Hobgood Academy Inc reported $179K 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 Hobgood Academy Inc tax-deductible?
Hobgood Academy Inc is registered as a tax-exempt nonprofit (EIN: 560940857). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Hobgood Academy Inc located?
Hobgood Academy Inc is headquartered in Hobgood, North Carolina and files with the IRS under EIN 560940857.
How many years of IRS 990 filings does Hobgood Academy Inc have?
Hobgood Academy 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 $179K in total revenue.
Filing History
IRS 990 filing history for Hobgood Academy Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2012–2024), Hobgood Academy Inc's revenue has declined by 80.7%, moving from $983K to $190K. Total assets decreased by 96.9% over the same period, from $838K to $26K. Total functional expenses fell by 78.3%, from $997K to $217K. In its most recent filing year (2024), Hobgood Academy Inc reported a deficit of $27K, with expenses exceeding revenue. The organization holds $7K in liabilities against $26K in assets (debt-to-asset ratio: 25.6%), resulting in net assets of $19K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $190K | $217K | $26K | $7K | — | — |
| 2023 | $173K | $279K | $60K | $14K | — | View 990 |
| 2022 | $217K | $219K | $166K | $14K | — | View 990 |
| 2021 | $192K | $213K | $167K | $13K | — | View 990 |
| 2020 | $176K | $248K | $223K | $47K | — | View 990 |
| 2019 | $500K | $635K | $304K | $56K | — | View 990 |
| 2018 | $1.3M | $586K | $453K | $69K | — | View 990 |
| 2017 | $413K | $694K | $740K | $1.0M | — | View 990 |
| 2016 | $482K | $785K | $470K | $496K | — | View 990 |
| 2015 | $551K | $674K | $542K | $265K | — | View 990 |
| 2014 | $673K | $885K | $465K | $65K | — | View 990 |
| 2013 | $748K | $875K | $699K | $87K | — | View 990 |
| 2012 | $983K | $997K | $838K | $98K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $190K, expenses of $217K, and assets of $26K (revenue +10.0% year-over-year).
- 2023: Revenue of $173K, expenses of $279K, and assets of $60K (revenue -20.6% year-over-year).
- 2022: Revenue of $217K, expenses of $219K, and assets of $166K (revenue +13.4% year-over-year).
- 2021: Revenue of $192K, expenses of $213K, and assets of $167K (revenue +9.3% year-over-year).
- 2020: Revenue of $176K, expenses of $248K, and assets of $223K (revenue -64.9% year-over-year).
- 2019: Revenue of $500K, expenses of $635K, and assets of $304K (revenue -60.8% year-over-year).
- 2018: Revenue of $1.3M, expenses of $586K, and assets of $453K (revenue +208.6% year-over-year).
- 2017: Revenue of $413K, expenses of $694K, and assets of $740K (revenue -14.2% year-over-year).
- 2016: Revenue of $482K, expenses of $785K, and assets of $470K (revenue -12.5% year-over-year).
- 2015: Revenue of $551K, expenses of $674K, and assets of $542K (revenue -18.2% year-over-year).
- 2014: Revenue of $673K, expenses of $885K, and assets of $465K (revenue -10.0% year-over-year).
- 2013: Revenue of $748K, expenses of $875K, and assets of $699K (revenue -24.0% year-over-year).
- 2012: Revenue of $983K, expenses of $997K, and assets of $838K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Hobgood Academy Inc:
Data Sources and Methodology
This transparency report for Hobgood Academy 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.