Louies Kids Inc
Louies Kids Inc. faces significant financial challenges with 2023 expenses far exceeding revenue and a sharp decline in assets.
EIN: 201031569 · Isle Of Palms, SC · NTEE: E60 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $8K |
| Total Expenses | $47K |
| Program Spending | 70% |
| Net Assets | $3K |
| Transparency Score | 45/100 |
Is Louies Kids Inc Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Louies Kids Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Louies Kids Inc
Louies Kids Inc (EIN: 201031569) is a nonprofit organization based in Isle Of Palms, SC, classified under NTEE code E60. The organization reported total revenue of $8K and total assets of $4K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Louies Kids Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Louies Kids Inc is a micro nonprofit that has been operating for 21 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -23.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $8K |
| Total Expenses | $47K |
| Surplus / Deficit | $-38,571 |
| Total Assets | $4K |
| Total Liabilities | $385 |
| Net Assets | $3K |
| Operating Margin | -483.6% |
| Debt-to-Asset Ratio | 10.7% |
| Months of Reserves | 0.9 months |
Financial Health Grade: C
In 2023, Louies Kids Inc reported a deficit of $39K with expenses exceeding revenue, holds 0.9 months of operating reserves (limited), has a debt-to-asset ratio of 10.7% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Louies Kids Inc's revenue has declined at a compound annual growth rate (CAGR) of -23.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -73.1% | +87.0% | -91.6% |
| 2022 | -49.6% | -25.5% | +12.0% |
| 2021 | +169.4% | -13.5% | +208.5% |
| 2020 | -56.5% | -31.7% | -59.3% |
| 2019 | -12.8% | +0.4% | -14.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2005 |
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 Louies Kids 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: 70%
- fundraising: 10%
According to IRS 990 filings, Louies Kids Inc allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% 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 $39K, with expenses exceeding revenue.
- Debt-to-asset ratio: 10.7%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers or directors received compensation, which is a positive sign for resource allocation directly to the 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 Louies Kids Inc's IRS 990 filings:
- Significant operational deficit in 2023 ($7,976 revenue vs. $46,547 expenses).
- Sharp decline in assets from $43,104 in 2022 to $3,615 in 2023.
- History of expenses exceeding revenue in multiple periods (2023, 2020, 2019, 2017, 2015).
- Low current assets ($3,615) relative to recent expenses ($46,547) indicating limited financial cushion.
Strengths
The following positive indicators were identified for Louies Kids Inc:
- Consistent reporting of 0% officer compensation, indicating no executive pay from the organization.
Frequently Asked Questions about Louies Kids Inc
Is Louies Kids Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Louies Kids Inc (EIN: 201031569) significant concerns. Mission Score: 45/100. 4 red flags identified, 1 strength noted.
How does Louies Kids Inc spend its money?
Louies Kids Inc directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Louies Kids Inc tax-deductible?
Louies Kids Inc is registered as a tax-exempt nonprofit (EIN: 201031569). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Louies Kids Inc's spending goes to programs?
Louies Kids Inc directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
How does Louies Kids Inc compare to similar nonprofits?
With a transparency score of 45/100 (Fair), Louies Kids Inc is near average for NTEE category E60 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Louies Kids Inc located?
Louies Kids Inc is headquartered in Isle Of Palms, South Carolina and files with the IRS under EIN 201031569. It is classified under NTEE code E60.
How many years of IRS 990 filings does Louies Kids Inc have?
Louies Kids 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 $8K in total revenue.
Is Louies Kids Inc. financially stable?
Based on the 2023 filing, Louies Kids Inc. is not financially stable, with expenses of $46,547 significantly exceeding revenue of $7,976, and assets declining sharply from $43,104 in 2022 to $3,615 in 2023.
What caused the large drop in assets in 2023?
The provided data does not specify the exact cause, but the drop in assets from $43,104 in 2022 to $3,615 in 2023, coupled with a large operational deficit, suggests significant expenditures or asset liquidation without sufficient incoming revenue.
How does Louies Kids Inc. fund its operations given the recurring deficits?
The recurring deficits, particularly the large one in 2023, indicate that the organization is either drawing down on reserves (which are now very low), relying on future pledges, or potentially facing solvency issues. The data does not provide details on how these deficits are covered.
What is the organization's plan to increase revenue or reduce expenses?
The provided IRS 990 data does not include strategic plans for revenue generation or expense reduction. The recent financial performance suggests such a plan is critically needed.
Filing History
IRS 990 filing history for Louies Kids Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Louies Kids Inc's revenue has declined by 96.2%, moving from $209K to $8K. Total assets decreased by 88.4% over the same period, from $31K to $4K. Total functional expenses fell by 76.9%, from $202K to $47K. In its most recent filing year (2023), Louies Kids Inc reported a deficit of $39K, with expenses exceeding revenue. The organization holds $385 in liabilities against $4K in assets (debt-to-asset ratio: 10.7%), resulting in net assets of $3K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $8K | $47K | $4K | $385 | — | — |
| 2022 | $30K | $25K | $43K | $1K | — | — |
| 2021 | $59K | $33K | $38K | $1K | — | — |
| 2020 | $22K | $39K | $12K | $935 | — | — |
| 2019 | $50K | $57K | $31K | $2K | — | View 990 |
| 2018 | $58K | $56K | $36K | $1K | — | View 990 |
| 2017 | $43K | $51K | $35K | $2K | — | View 990 |
| 2016 | $89K | $76K | $40K | $987 | — | View 990 |
| 2015 | $79K | $89K | $28K | $2K | — | View 990 |
| 2014 | $91K | $78K | $35K | $648 | — | View 990 |
| 2013 | $126K | $150K | $23K | $1K | — | View 990 |
| 2012 | $152K | $144K | $41K | $2K | — | View 990 |
| 2011 | $209K | $202K | $31K | $479 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $8K, expenses of $47K, and assets of $4K (revenue -73.1% year-over-year).
- 2022: Revenue of $30K, expenses of $25K, and assets of $43K (revenue -49.6% year-over-year).
- 2021: Revenue of $59K, expenses of $33K, and assets of $38K (revenue +169.4% year-over-year).
- 2020: Revenue of $22K, expenses of $39K, and assets of $12K (revenue -56.5% year-over-year).
- 2019: Revenue of $50K, expenses of $57K, and assets of $31K (revenue -12.8% year-over-year).
- 2018: Revenue of $58K, expenses of $56K, and assets of $36K (revenue +34.2% year-over-year).
- 2017: Revenue of $43K, expenses of $51K, and assets of $35K (revenue -51.8% year-over-year).
- 2016: Revenue of $89K, expenses of $76K, and assets of $40K (revenue +12.3% year-over-year).
- 2015: Revenue of $79K, expenses of $89K, and assets of $28K (revenue -12.7% year-over-year).
- 2014: Revenue of $91K, expenses of $78K, and assets of $35K (revenue -28.1% year-over-year).
- 2013: Revenue of $126K, expenses of $150K, and assets of $23K (revenue -17.1% year-over-year).
- 2012: Revenue of $152K, expenses of $144K, and assets of $41K (revenue -26.9% year-over-year).
- 2011: Revenue of $209K, expenses of $202K, and assets of $31K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Louies Kids Inc:
Data Sources and Methodology
This transparency report for Louies Kids 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.