Learning Center Of Key West Inc
Learning Center Of Key West Inc faces consistent operational deficits and maintains minimal assets.
EIN: 205416637 · Watkins, CO · NTEE: B99 · Updated: 2026-03-28
Is Learning Center Of Key West Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Learning Center Of Key West Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Learning Center Of Key West Inc
Learning Center Of Key West Inc (EIN: 205416637) is a nonprofit organization based in Watkins, CO, classified under NTEE code B99. The organization reported total revenue of $196K and total assets of $2K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Learning Center Of Key West Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Learning Center Of Key West Inc is a small nonprofit that has been operating for 19 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -5.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $212K |
| Total Expenses | $218K |
| Surplus / Deficit | $-6,674 |
| Total Assets | $19K |
| Net Assets | $19K |
| Operating Margin | -3.2% |
| Months of Reserves | 1.0 months |
Financial Health Grade: C
In 2023, Learning Center Of Key West Inc reported a deficit of $7K with expenses exceeding revenue, holds 1.0 months of operating reserves (limited).
Financial Trends
Over 13 years of filings (2011–2023), Learning Center Of Key West Inc's revenue has declined at a compound annual growth rate (CAGR) of -5.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +20.9% | -8.7% | -26.3% |
| 2022 | -33.7% | -20.8% | — |
| 2021 | +10.1% | +25.3% | -118.3% |
| 2020 | +7.9% | +16.7% | +118.1% |
| 2019 | -45.0% | -47.1% | +11.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2007 |
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 Learning Center Of Key West Inc with a Mission Score of 60 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Learning Center Of Key West Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% 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 $7K, with expenses exceeding revenue.
Executive Compensation Analysis
Executive compensation is reported at 0% across all available filings, indicating that no officers receive compensation, which is highly unusual for an organization with revenues ranging from $175,116 to $472,364. This suggests either an entirely volunteer-led organization or that compensation is reported under other expense categories, which would reduce transparency.
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 Learning Center Of Key West Inc's IRS 990 filings:
- Frequent operational deficits (e.g., $64,081 in 2022, $38,056 in 2021)
- Extremely low and fluctuating asset base (e.g., $18,685 in 2023, $-5,883 in 2021)
- Lack of detailed functional expense breakdown (program, admin, fundraising) in provided data
- Inconsistent revenue generation, with significant drops (e.g., from $472,364 in 2016 to $175,116 in 2022)
Strengths
The following positive indicators were identified for Learning Center Of Key West Inc:
- Consistent reporting of 0% officer compensation, indicating resources are not diverted to executive salaries.
- No reported liabilities in recent years (2021-2023), suggesting good debt management.
- Long filing history (13 filings) indicates sustained operation over time.
Frequently Asked Questions about Learning Center Of Key West Inc
Is Learning Center Of Key West Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Learning Center Of Key West Inc (EIN: 205416637) some concerns. Mission Score: 60/100. 4 red flags identified, 3 strengths noted.
How does Learning Center Of Key West Inc spend its money?
Learning Center Of Key West Inc directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Learning Center Of Key West Inc tax-deductible?
Learning Center Of Key West Inc is registered as a tax-exempt nonprofit (EIN: 205416637). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Learning Center Of Key West Inc sustain operations with recurring deficits?
The organization frequently reports expenses exceeding revenue, such as a $64,081 deficit in 2022 and a $38,056 deficit in 2021. This pattern suggests reliance on prior year reserves, fluctuating grant cycles, or other unreported funding mechanisms to cover operational costs, which is not sustainable long-term given its minimal asset base.
What is the actual breakdown of program, administrative, and fundraising expenses?
The provided data does not offer a detailed functional expense breakdown. Without this, it's difficult to assess how efficiently the organization allocates its funds between direct program services, administrative overhead, and fundraising efforts.
Why are the organization's assets consistently so low, and what caused the negative assets in 2021?
The organization's assets have consistently been very low, peaking at $41,075 in 2015 and dropping to $18,685 in 2023. The negative assets of $-5,883 in 2021 are particularly concerning, indicating that liabilities exceeded assets, which is a sign of severe financial distress. This could be due to significant operational losses or asset depreciation.
Is the organization truly volunteer-led, given 0% officer compensation?
The consistent reporting of 0% officer compensation across all filings suggests that the organization's leadership may be entirely volunteer-based. If this is the case, it's a significant strength in terms of resource allocation, but it's unusual for an organization of this revenue size and could also indicate that compensation is being reported in other expense lines, which would be less transparent.
Filing History
IRS 990 filing history for Learning Center Of Key West Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Learning Center Of Key West Inc's revenue has declined by 52%, moving from $441K to $212K. Total assets decreased by 63.2% over the same period, from $51K to $19K. Total functional expenses fell by 46.4%, from $408K to $218K. In its most recent filing year (2023), Learning Center Of Key West Inc reported a deficit of $7K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $212K | $218K | $19K | $0 | — | View 990 |
| 2022 | $175K | $239K | $25K | $0 | — | View 990 |
| 2021 | $264K | $302K | $-5,883 | $0 | — | View 990 |
| 2020 | $240K | $241K | $32K | $24K | — | View 990 |
| 2019 | $222K | $207K | $15K | $0 | — | View 990 |
| 2018 | $404K | $391K | $13K | $14K | — | View 990 |
| 2017 | $396K | $394K | $14K | $14K | — | View 990 |
| 2016 | $472K | $442K | $15K | $4K | — | View 990 |
| 2015 | $414K | $398K | $41K | $3K | — | — |
| 2014 | $393K | $397K | $23K | $720 | — | View 990 |
| 2013 | $398K | $434K | $35K | $10K | — | View 990 |
| 2012 | $456K | $433K | $69K | $8K | — | View 990 |
| 2011 | $441K | $408K | $51K | $12K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $212K, expenses of $218K, and assets of $19K (revenue +20.9% year-over-year).
- 2022: Revenue of $175K, expenses of $239K, and assets of $25K (revenue -33.7% year-over-year).
- 2021: Revenue of $264K, expenses of $302K, and assets of $-5,883 (revenue +10.1% year-over-year).
- 2020: Revenue of $240K, expenses of $241K, and assets of $32K (revenue +7.9% year-over-year).
- 2019: Revenue of $222K, expenses of $207K, and assets of $15K (revenue -45.0% year-over-year).
- 2018: Revenue of $404K, expenses of $391K, and assets of $13K (revenue +1.9% year-over-year).
- 2017: Revenue of $396K, expenses of $394K, and assets of $14K (revenue -16.1% year-over-year).
- 2016: Revenue of $472K, expenses of $442K, and assets of $15K (revenue +14.1% year-over-year).
- 2015: Revenue of $414K, expenses of $398K, and assets of $41K (revenue +5.2% year-over-year).
- 2014: Revenue of $393K, expenses of $397K, and assets of $23K (revenue -1.1% year-over-year).
- 2013: Revenue of $398K, expenses of $434K, and assets of $35K (revenue -12.7% year-over-year).
- 2012: Revenue of $456K, expenses of $433K, and assets of $69K (revenue +3.3% year-over-year).
- 2011: Revenue of $441K, expenses of $408K, and assets of $51K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Learning Center Of Key West Inc:
Data Sources and Methodology
This transparency report for Learning Center Of Key West 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.