Independence Unlimited Inc
Independence Unlimited Inc maintains stable finances with no reported officer compensation.
EIN: 112848994 · Hartford, CT · NTEE: P82Z · Updated: 2026-03-28
Is Independence Unlimited Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Independence Unlimited Inc directs 95% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Independence Unlimited Inc
Independence Unlimited Inc (EIN: 112848994) is a nonprofit organization based in Hartford, CT, classified under NTEE code P82Z. The organization reported total revenue of $444K and total assets of $583K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Independence Unlimited Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Independence Unlimited Inc is a small nonprofit that has been operating for 39 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -5.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $432K |
| Total Expenses | $425K |
| Surplus / Deficit | +$7K |
| Total Assets | $485K |
| Total Liabilities | $294K |
| Net Assets | $192K |
| Operating Margin | 1.6% |
| Debt-to-Asset Ratio | 60.5% |
| Months of Reserves | 13.7 months |
Financial Health Grade: A
In 2023, Independence Unlimited Inc reported a surplus of $7K with revenue exceeding expenses, holds 13.7 months of operating reserves (strong position), has a debt-to-asset ratio of 60.5% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Independence Unlimited Inc's revenue has declined at a compound annual growth rate (CAGR) of -5.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +15.2% | +13.9% | +43.7% |
| 2022 | -3.9% | -3.4% | -2.1% |
| 2021 | +4.7% | +8.2% | +11.2% |
| 2020 | +14.9% | +8.5% | +24.0% |
| 2019 | -37.5% | -38.9% | -6.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1987 |
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 Independence Unlimited 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: 5%
- programs: 95%
- fundraising: 0%
According to IRS 990 filings, Independence Unlimited Inc allocates its expenses as follows: admin: 5%, programs: 95%, fundraising: 0%. With 95% 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 $7K, with revenue exceeding expenses.
- Debt-to-asset ratio: 60.5%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that no officers receive compensation from the organization, which is highly unusual for an organization of its size and suggests a volunteer-led or externally funded leadership model.
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 Independence Unlimited Inc's IRS 990 filings:
- Unusually low administrative and fundraising expenses, potentially indicating underreporting or reliance on external support for these functions.
Strengths
The following positive indicators were identified for Independence Unlimited Inc:
- Consistent reporting of 0% officer compensation, indicating high efficiency in resource allocation.
- Stable financial operations with revenues closely matching expenses, as seen in 2023 ($431,810 revenue vs. $424,955 expenses).
- Growing asset base, increasing from $250,141 in 2019 to $485,252 in 2023, suggesting financial stability and growth.
Frequently Asked Questions about Independence Unlimited Inc
Is Independence Unlimited Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Independence Unlimited Inc (EIN: 112848994) some concerns. Mission Score: 90/100. 1 red flag identified, 3 strengths noted.
How does Independence Unlimited Inc spend its money?
Independence Unlimited Inc directs 95% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Independence Unlimited Inc tax-deductible?
Independence Unlimited Inc is registered as a tax-exempt nonprofit (EIN: 112848994). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Independence Unlimited Inc a good charity?
Based on the available financial data, Independence Unlimited Inc appears to be a well-managed charity with a strong focus on its mission, evidenced by its lean operations, consistent financial health, and zero reported officer compensation.
How has Independence Unlimited Inc's financial health changed over time?
The organization has shown a trend of increasing assets from $250,141 in 2019 to $485,252 in 2023, while maintaining expenses close to revenues, indicating stable and improving financial health.
What is Independence Unlimited Inc's approach to executive compensation?
Independence Unlimited Inc consistently reports 0% officer compensation, suggesting a model where executive leadership is either entirely volunteer-based or compensated through other means not reported on the 990, which is a significant indicator of resource allocation towards programs.
Filing History
IRS 990 filing history for Independence Unlimited Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Independence Unlimited Inc's revenue has declined by 48.5%, moving from $839K to $432K. Total assets increased by 114.7% over the same period, from $226K to $485K. Total functional expenses fell by 48%, from $817K to $425K. In its most recent filing year (2023), Independence Unlimited Inc reported a surplus of $7K, with revenue exceeding expenses. The organization holds $294K in liabilities against $485K in assets (debt-to-asset ratio: 60.5%), resulting in net assets of $192K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $432K | $425K | $485K | $294K | — | — |
| 2022 | $375K | $373K | $338K | $153K | — | View 990 |
| 2021 | $390K | $386K | $345K | $162K | — | View 990 |
| 2020 | $372K | $357K | $310K | $131K | — | — |
| 2019 | $324K | $329K | $250K | $86K | — | View 990 |
| 2018 | $518K | $538K | $268K | $98K | — | View 990 |
| 2017 | $558K | $552K | $368K | $179K | — | View 990 |
| 2016 | $723K | $719K | $252K | $67K | — | View 990 |
| 2015 | $821K | $795K | $237K | $56K | — | View 990 |
| 2014 | $871K | $828K | $309K | $155K | — | View 990 |
| 2013 | $837K | $836K | $262K | $151K | — | View 990 |
| 2012 | $770K | $765K | $253K | $144K | — | View 990 |
| 2011 | $839K | $817K | $226K | $121K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $432K, expenses of $425K, and assets of $485K (revenue +15.2% year-over-year).
- 2022: Revenue of $375K, expenses of $373K, and assets of $338K (revenue -3.9% year-over-year).
- 2021: Revenue of $390K, expenses of $386K, and assets of $345K (revenue +4.7% year-over-year).
- 2020: Revenue of $372K, expenses of $357K, and assets of $310K (revenue +14.9% year-over-year).
- 2019: Revenue of $324K, expenses of $329K, and assets of $250K (revenue -37.5% year-over-year).
- 2018: Revenue of $518K, expenses of $538K, and assets of $268K (revenue -7.0% year-over-year).
- 2017: Revenue of $558K, expenses of $552K, and assets of $368K (revenue -22.9% year-over-year).
- 2016: Revenue of $723K, expenses of $719K, and assets of $252K (revenue -12.0% year-over-year).
- 2015: Revenue of $821K, expenses of $795K, and assets of $237K (revenue -5.7% year-over-year).
- 2014: Revenue of $871K, expenses of $828K, and assets of $309K (revenue +4.1% year-over-year).
- 2013: Revenue of $837K, expenses of $836K, and assets of $262K (revenue +8.8% year-over-year).
- 2012: Revenue of $770K, expenses of $765K, and assets of $253K (revenue -8.3% year-over-year).
- 2011: Revenue of $839K, expenses of $817K, and assets of $226K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Independence Unlimited Inc:
Data Sources and Methodology
This transparency report for Independence Unlimited 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.