Ikan Incorporated
Ikan Incorporated shows rapid growth with recent deficits and increasing liabilities, while maintaining 0% officer compensation.
EIN: 208479728 · Florida, NY · NTEE: P82 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $5.1M |
| Total Expenses | $4.8M |
| Program Spending | 85% |
| Net Assets | $-216,777 |
| Transparency Score | 85/100 |
Is Ikan Incorporated Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Ikan Incorporated directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Ikan Incorporated
Ikan Incorporated (EIN: 208479728) is a nonprofit organization based in Florida, NY, classified under NTEE code P82. The organization reported total revenue of $5.1M and total assets of $1.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Ikan Incorporated's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Ikan Incorporated is a mid-size nonprofit that has been operating for 17 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 24.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $4.6M |
| Total Expenses | $4.8M |
| Surplus / Deficit | $-183,729 |
| Total Assets | $1.6M |
| Total Liabilities | $1.8M |
| Net Assets | $-216,777 |
| Operating Margin | -4.0% |
| Debt-to-Asset Ratio | 113.4% |
| Months of Reserves | 4.1 months |
Financial Health Grade: C
In 2023, Ikan Incorporated reported a deficit of $184K with expenses exceeding revenue, holds 4.1 months of operating reserves (adequate), has a debt-to-asset ratio of 113.4% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Ikan Incorporated's revenue has grown at a compound annual growth rate (CAGR) of 24.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -2.8% | -8.7% | +22.9% |
| 2022 | +22.6% | +36.2% | +18.7% |
| 2021 | +86.5% | +91.9% | +60.4% |
| 2020 | +87.3% | +62.9% | +239.0% |
| 2019 | -30.2% | -17.3% | -37.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2009 |
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 Ikan Incorporated with a Mission Score of 85 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, Ikan Incorporated 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 deficit of $184K, with expenses exceeding revenue.
- Debt-to-asset ratio: 113.4%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that no officers or key employees receive compensation, which is highly favorable for directing funds towards the organization's 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.
Red Flags
The following concerns were identified during AI analysis of Ikan Incorporated's IRS 990 filings:
- Liabilities ($1,836,627 in 2023) exceeding assets ($1,619,850 in 2023)
- Deficit spending in recent years (e.g., $183,729 in 2023, $505,877 in 2022)
Strengths
The following positive indicators were identified for Ikan Incorporated:
- Consistent 0% officer compensation across all filings, indicating high efficiency in executive spending
- Significant growth in revenue and assets over the past decade, demonstrating expanding operations
- Strong program focus implied by the lack of executive compensation, allowing more funds for mission-related activities
Frequently Asked Questions about Ikan Incorporated
Is Ikan Incorporated a legitimate charity?
Ikan Incorporated (EIN: 208479728) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $5.1M. 2 red flags identified. 3 strengths noted. Financial health grade: C.
How does Ikan Incorporated spend its money?
Ikan Incorporated directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Ikan Incorporated tax-deductible?
Ikan Incorporated is registered as a tax-exempt nonprofit (EIN: 208479728). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Ikan Incorporated's spending goes to programs?
Ikan Incorporated directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Ikan Incorporated compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Ikan Incorporated is above average for NTEE category P82 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Ikan Incorporated located?
Ikan Incorporated is headquartered in Florida, New York and files with the IRS under EIN 208479728. It is classified under NTEE code P82.
How many years of IRS 990 filings does Ikan Incorporated have?
Ikan Incorporated 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 $5.1M in total revenue.
Is Ikan Incorporated financially stable given its recent deficits?
While Ikan Incorporated has experienced deficits in recent years (e.g., $183,729 in 2023 and $505,877 in 2022), and liabilities have exceeded assets in 2023 ($1,836,627 vs $1,619,850), its overall revenue and asset growth over the past decade suggest a growing organization. However, the increasing liabilities warrant close monitoring.
How has Ikan Incorporated's asset base changed over time?
Ikan Incorporated's assets have grown substantially, from $182,231 in 2014 to $1,619,850 in 2023, demonstrating a significant increase in its resource base and operational capacity.
What is the trend in Ikan Incorporated's revenue and expenses?
Both revenue and expenses have shown a strong upward trend over the past decade, with revenue increasing from $699,766 in 2014 to $4,597,361 in 2023, and expenses following a similar growth trajectory.
Filing History
IRS 990 filing history for Ikan Incorporated showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Ikan Incorporated's revenue has grown by 1306%, moving from $327K to $4.6M. Total assets increased by 2627.3% over the same period, from $59K to $1.6M. Total functional expenses rose by 1421.4%, from $314K to $4.8M. In its most recent filing year (2023), Ikan Incorporated reported a deficit of $184K, with expenses exceeding revenue. The organization holds $1.8M in liabilities against $1.6M in assets (debt-to-asset ratio: 113.4%), resulting in net assets of $-216,777.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $4.6M | $4.8M | $1.6M | $1.8M | — | — |
| 2022 | $4.7M | $5.2M | $1.3M | $1.7M | — | View 990 |
| 2021 | $3.9M | $3.8M | $1.1M | $951K | — | View 990 |
| 2020 | $2.1M | $2.0M | $692K | $546K | — | View 990 |
| 2019 | $1.1M | $1.2M | $204K | $123K | — | View 990 |
| 2018 | $1.6M | $1.5M | $329K | $122K | — | View 990 |
| 2017 | $1.3M | $1.2M | $253K | $142K | — | View 990 |
| 2016 | $1.1M | $1.1M | $333K | $244K | — | View 990 |
| 2015 | $870K | $863K | $216K | $120K | — | View 990 |
| 2014 | $700K | $651K | $182K | $93K | — | View 990 |
| 2013 | $629K | $585K | $139K | $98K | — | View 990 |
| 2012 | $494K | $413K | $108K | $111K | — | View 990 |
| 2011 | $327K | $314K | $59K | $119K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $4.6M, expenses of $4.8M, and assets of $1.6M (revenue -2.8% year-over-year).
- 2022: Revenue of $4.7M, expenses of $5.2M, and assets of $1.3M (revenue +22.6% year-over-year).
- 2021: Revenue of $3.9M, expenses of $3.8M, and assets of $1.1M (revenue +86.5% year-over-year).
- 2020: Revenue of $2.1M, expenses of $2.0M, and assets of $692K (revenue +87.3% year-over-year).
- 2019: Revenue of $1.1M, expenses of $1.2M, and assets of $204K (revenue -30.2% year-over-year).
- 2018: Revenue of $1.6M, expenses of $1.5M, and assets of $329K (revenue +25.9% year-over-year).
- 2017: Revenue of $1.3M, expenses of $1.2M, and assets of $253K (revenue +13.7% year-over-year).
- 2016: Revenue of $1.1M, expenses of $1.1M, and assets of $333K (revenue +27.0% year-over-year).
- 2015: Revenue of $870K, expenses of $863K, and assets of $216K (revenue +24.3% year-over-year).
- 2014: Revenue of $700K, expenses of $651K, and assets of $182K (revenue +11.3% year-over-year).
- 2013: Revenue of $629K, expenses of $585K, and assets of $139K (revenue +27.4% year-over-year).
- 2012: Revenue of $494K, expenses of $413K, and assets of $108K (revenue +51.0% year-over-year).
- 2011: Revenue of $327K, expenses of $314K, and assets of $59K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Ikan Incorporated:
Data Sources and Methodology
This transparency report for Ikan Incorporated 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.