Khaleidoscope Health Care Inc
Khaleidoscope Health Care Inc: Declining Revenue, High Administrative Costs
EIN: 222950525 · Jersey City, NJ · NTEE: E30 · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $1.6M |
| Total Expenses | $2.0M |
| Program Spending | 65% |
| Net Assets | $-109,898 |
| Transparency Score | 45/100 |
Is Khaleidoscope Health Care Inc Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Khaleidoscope Health Care Inc directs 65% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Khaleidoscope Health Care Inc
Khaleidoscope Health Care Inc (EIN: 222950525) is a nonprofit organization based in Jersey City, NJ, classified under NTEE code E30. The organization reported total revenue of $1.6M and total assets of $11K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Khaleidoscope Health Care Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Khaleidoscope Health Care Inc is a mid-size nonprofit that has been operating for 10 years, with 10 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of 3.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.9M |
| Total Expenses | $2.0M |
| Surplus / Deficit | $-98,410 |
| Total Assets | $33K |
| Total Liabilities | $143K |
| Net Assets | $-109,898 |
| Operating Margin | -5.3% |
| Debt-to-Asset Ratio | 433.9% |
| Months of Reserves | 0.2 months |
Financial Health Grade: D
In 2023, Khaleidoscope Health Care Inc reported a deficit of $98K with expenses exceeding revenue, holds 0.2 months of operating reserves (limited), has a debt-to-asset ratio of 433.9% (high leverage).
Financial Trends
Over 10 years of filings (2012–2023), Khaleidoscope Health Care Inc's revenue has grown at a compound annual growth rate (CAGR) of 3.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -8.1% | -3.1% | -69.3% |
| 2022 | -2.7% | -2.2% | -26.2% |
| 2021 | +1.3% | -5.2% | -27.8% |
| 2020 | -10.7% | -2.7% | -34.1% |
| 2019 | -8.9% | -7.2% | -9.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2016 |
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 Khaleidoscope Health Care Inc with a Mission Score of 45 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 20%
- programs: 65%
- fundraising: 15%
According to IRS 990 filings, Khaleidoscope Health Care Inc allocates its expenses as follows: admin: 20%, programs: 65%, fundraising: 15%. Approximately 65% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $98K, with expenses exceeding revenue.
- Debt-to-asset ratio: 433.9%.
Executive Compensation Analysis
Executive compensation cannot be assessed as the provided data consistently reports 0% compensation, which is unusual for an organization with significant revenue and expenses.
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 Khaleidoscope Health Care Inc's IRS 990 filings:
- Consistent decline in revenue from $2,519,916 in 2018 to $1,563,234 in 2023, indicating potential sustainability issues.
- The 'c0%' for compensation across all years raises a red flag regarding the completeness and transparency of financial reporting.
- Administrative expenses appear to be a significant portion of total expenses, for example, $32,912 in 2023 out of $1,956,766 total expenses, without clear justification for the proportion.
Strengths
The following positive indicators were identified for Khaleidoscope Health Care Inc:
- The organization has maintained operations for several years, indicating a degree of resilience despite financial fluctuations.
Frequently Asked Questions about Khaleidoscope Health Care Inc
Is Khaleidoscope Health Care Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Khaleidoscope Health Care Inc (EIN: 222950525) significant concerns. Mission Score: 45/100. 3 red flags identified, 1 strength noted.
How does Khaleidoscope Health Care Inc spend its money?
Khaleidoscope Health Care Inc directs 65% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Khaleidoscope Health Care Inc tax-deductible?
Khaleidoscope Health Care Inc is registered as a tax-exempt nonprofit (EIN: 222950525). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Khaleidoscope Health Care Inc's spending goes to programs?
Khaleidoscope Health Care Inc directs 65% to programs, 15% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
How does Khaleidoscope Health Care Inc compare to similar nonprofits?
With a transparency score of 45/100 (Fair), Khaleidoscope Health Care Inc is near average for NTEE category E30 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Khaleidoscope Health Care Inc located?
Khaleidoscope Health Care Inc is headquartered in Jersey City, New Jersey and files with the IRS under EIN 222950525. It is classified under NTEE code E30.
How many years of IRS 990 filings does Khaleidoscope Health Care Inc have?
Khaleidoscope Health Care Inc has 10 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 $1.6M in total revenue.
What does Khaleidoscope Health Care Inc do?
Khaleidoscope Health Care Inc is a nonprofit organization in the Health Care sector, located in Jersey City, New Jersey. It is classified under NTEE code E30.
How much revenue does Khaleidoscope Health Care Inc have?
Khaleidoscope Health Care Inc reported total revenue of $1,563,234. Based on 10 IRS 990 filings on record.
What are Khaleidoscope Health Care Inc's total assets?
Khaleidoscope Health Care Inc holds total assets of $11,253 as reported in IRS 990 filings.
Where is Khaleidoscope Health Care Inc located?
Khaleidoscope Health Care Inc is based in Jersey City, New Jersey.
What is Khaleidoscope Health Care Inc's EIN?
Khaleidoscope Health Care Inc's Employer Identification Number (EIN) is 222950525. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Khaleidoscope Health Care Inc?
Khaleidoscope Health Care Inc is classified under NTEE code E30 (Health Care).
Is Khaleidoscope Health Care Inc a registered 501(c)(3)?
Yes, Khaleidoscope Health Care Inc is recognized as a tax-exempt organization by the IRS. EIN: 222950525.
Does Khaleidoscope Health Care Inc file IRS Form 990?
Yes, Khaleidoscope Health Care Inc has 10 IRS Form 990 filings on record. The most recent covers tax period 202309.
What was Khaleidoscope Health Care Inc's revenue in 2023?
In the 202309 filing period, Khaleidoscope Health Care Inc reported total revenue of $1,858,356, total expenses of $1,956,766, and net assets of $32,912.
Is Khaleidoscope Health Care Inc's revenue growing or declining?
Khaleidoscope Health Care Inc's revenue is declining. Revenue went from $2,022,533 (202209) to $1,858,356 (202309), a -8.1% change. Based on 10 filings on record.
What is Khaleidoscope Health Care Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Khaleidoscope Health Care Inc covers tax period 202309. It shows revenue of $1,858,356, expenses of $1,956,766, total assets of $32,912, and liabilities of $142,810.
How much does Khaleidoscope Health Care Inc spend on programs vs administration?
Based on IRS 990 analysis, Khaleidoscope Health Care Inc allocates approximately 65% of expenses to program services, 20% to administrative costs, and 15% to fundraising. Program spending is moderate relative to overhead.
Is Khaleidoscope Health Care Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Khaleidoscope Health Care Inc shows mixed signals. Mission Score: 45/100 (Fair). 3 red flags identified. 1 strength noted.
What are the red flags for Khaleidoscope Health Care Inc?
The following concerns were identified: Consistent decline in revenue from $2,519,916 in 2018 to $1,563,234 in 2023, indicating potential sustainability issues.. The 'c0%' for compensation across all years raises a red flag regarding the completeness and transparency of financial reporting.. Administrative expenses appear to be a significant portion of total expenses, for example, $32,912 in 2023 out of $1,956,766 total expenses, without clear justification for the proportion.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Khaleidoscope Health Care Inc's strengths?
Positive indicators for Khaleidoscope Health Care Inc include: The organization has maintained operations for several years, indicating a degree of resilience despite financial fluctuations.. These findings are derived from AI analysis of the organization's financial filings.
How does Khaleidoscope Health Care Inc compensate executives?
Executive compensation cannot be assessed as the provided data consistently reports 0% compensation, which is unusual for an organization with significant revenue and expenses. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the consistent 'c0%' for compensation, how does Khaleidoscope Health Care Inc manage to attract and retain leadership and staff, and where are these costs truly accounted for in their financial statements?
The consistent reporting of 'c0%' for compensation across all years is highly unusual for an organization of this size and operational duration. This suggests that compensation costs might be embedded within other expense categories, such as administrative or program expenses, or that key personnel are compensated through non-traditional means not captured in this specific filing field. Without further detail, it's impossible to determine how leadership and staff are compensated.
What specific health care programs or services does Khaleidoscope Health Care Inc provide, and how do their reported expenses directly contribute to these initiatives, especially given the declining revenue trend?
The provided data only offers high-level financial figures (revenue, expenses, assets, liabilities) and does not detail specific health care programs or services. While expenses are reported, the lack of granular program-specific expenditure information makes it challenging to assess the direct impact of their spending on their stated mission, particularly in the context of a consistent decline in revenue over the past five years.
Filing History
IRS 990 filing history for Khaleidoscope Health Care Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2012–2023), Khaleidoscope Health Care Inc's revenue has grown by 50.7%, moving from $1.2M to $1.9M. Total assets decreased by 90.6% over the same period, from $352K to $33K. Total functional expenses rose by 59.8%, from $1.2M to $2.0M. In its most recent filing year (2023), Khaleidoscope Health Care Inc reported a deficit of $98K, with expenses exceeding revenue. The organization holds $143K in liabilities against $33K in assets (debt-to-asset ratio: 433.9%), resulting in net assets of $-109,898.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.9M | $2.0M | $33K | $143K | — | View 990 |
| 2022 | $2.0M | $2.0M | $107K | $119K | — | View 990 |
| 2021 | $2.1M | $2.1M | $145K | $159K | — | View 990 |
| 2020 | $2.1M | $2.2M | $201K | $228K | — | View 990 |
| 2019 | $2.3M | $2.2M | $305K | $205K | — | View 990 |
| 2018 | $2.5M | $2.4M | $337K | $295K | — | View 990 |
| 2017 | $2.2M | $1.9M | $375K | $442K | — | View 990 |
| 2016 | $2.3M | $2.1M | $217K | $586K | — | View 990 |
| 2015 | $1.9M | $1.9M | $174K | $364K | — | — |
| 2012 | $1.2M | $1.2M | $352K | $289K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.9M, expenses of $2.0M, and assets of $33K (revenue -8.1% year-over-year).
- 2022: Revenue of $2.0M, expenses of $2.0M, and assets of $107K (revenue -2.7% year-over-year).
- 2021: Revenue of $2.1M, expenses of $2.1M, and assets of $145K (revenue +1.3% year-over-year).
- 2020: Revenue of $2.1M, expenses of $2.2M, and assets of $201K (revenue -10.7% year-over-year).
- 2019: Revenue of $2.3M, expenses of $2.2M, and assets of $305K (revenue -8.9% year-over-year).
- 2018: Revenue of $2.5M, expenses of $2.4M, and assets of $337K (revenue +15.9% year-over-year).
- 2017: Revenue of $2.2M, expenses of $1.9M, and assets of $375K (revenue -3.4% year-over-year).
- 2016: Revenue of $2.3M, expenses of $2.1M, and assets of $217K (revenue +19.7% year-over-year).
- 2015: Revenue of $1.9M, expenses of $1.9M, and assets of $174K (revenue +52.5% year-over-year).
- 2012: Revenue of $1.2M, expenses of $1.2M, and assets of $352K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Khaleidoscope Health Care Inc:
Data Sources and Methodology
This transparency report for Khaleidoscope Health Care 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.