Mace Apartments Inc
Mace Apartments Inc. consistently operates at a deficit, drawing down assets over time.
EIN: 204044976 · Cookeville, TN · NTEE: L20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $82K |
| Total Expenses | $106K |
| Program Spending | 80% |
| Net Assets | $806K |
| Transparency Score | 70/100 |
Is Mace Apartments Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Mace Apartments Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Mace Apartments Inc
Mace Apartments Inc (EIN: 204044976) is a nonprofit organization based in Cookeville, TN, classified under NTEE code L20. The organization reported total revenue of $82K and total assets of $797K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Mace Apartments Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Mace Apartments Inc is a micro nonprofit that has been operating for 20 years, with 14 years of IRS 990 filings on record (2011–2024). Revenue has grown at a compound annual rate of 6.0%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $78K |
| Total Expenses | $106K |
| Surplus / Deficit | $-27,908 |
| Total Assets | $836K |
| Total Liabilities | $30K |
| Net Assets | $806K |
| Operating Margin | -35.9% |
| Debt-to-Asset Ratio | 3.5% |
| Months of Reserves | 95.0 months |
Financial Health Grade: B
In 2024, Mace Apartments Inc reported a deficit of $28K with expenses exceeding revenue, holds 95.0 months of operating reserves (strong position), has a debt-to-asset ratio of 3.5% (very low leverage).
Financial Trends
Over 14 years of filings (2011–2024), Mace Apartments Inc's revenue has grown at a compound annual growth rate (CAGR) of 6.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +32.7% | +8.5% | -3.0% |
| 2023 | +10.0% | +0.6% | -3.9% |
| 2022 | -0.7% | +12.7% | -4.0% |
| 2021 | +1.2% | -7.6% | -2.9% |
| 2020 | -9.2% | +7.6% | -3.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2006 |
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 Mace Apartments Inc with a Mission Score of 70 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, Mace Apartments 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 (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $28K, with expenses exceeding revenue.
- Debt-to-asset ratio: 3.5%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no funds are allocated to officer salaries, which is a strong positive for resource allocation 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 Mace Apartments Inc's IRS 990 filings:
- Consistent operational deficits (expenses exceeding revenue) across all reported periods.
- Steady decline in total assets over the past decade, from $1,138,075 in 201506 to $835,700 in 202406, indicating asset depletion.
- Lack of detailed expense breakdown in available data makes it difficult to fully assess spending efficiency.
Strengths
The following positive indicators were identified for Mace Apartments Inc:
- 0% officer compensation reported across all filings, indicating efficient use of funds for mission-related activities.
- Consistent filing history demonstrates good transparency and compliance with IRS requirements.
- Low liabilities relative to assets, with liabilities at $29,611 against assets of $835,700 in 202406.
Frequently Asked Questions about Mace Apartments Inc
Is Mace Apartments Inc a legitimate charity?
Mace Apartments Inc (EIN: 204044976) is a registered tax-exempt nonprofit based in Tennessee. Our AI analysis gives it a Mission Score of 70/100. It has 14 years of IRS 990 filings on record. Total revenue: $82K. 3 red flags identified. 3 strengths noted. Financial health grade: B.
How does Mace Apartments Inc spend its money?
Mace Apartments Inc directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Mace Apartments Inc tax-deductible?
Mace Apartments Inc is registered as a tax-exempt nonprofit (EIN: 204044976). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Mace Apartments Inc's spending goes to programs?
Mace Apartments Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Mace Apartments Inc compare to similar nonprofits?
With a transparency score of 70/100 (Good), Mace Apartments Inc is above average for NTEE category L20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Mace Apartments Inc located?
Mace Apartments Inc is headquartered in Cookeville, Tennessee and files with the IRS under EIN 204044976. It is classified under NTEE code L20.
How many years of IRS 990 filings does Mace Apartments Inc have?
Mace Apartments Inc has 14 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 $82K in total revenue.
Is Mace Apartments Inc. financially sustainable given its consistent operational deficits?
Mace Apartments Inc. has consistently reported expenses exceeding revenue, leading to a decline in assets from $1,138,075 in 201506 to $835,700 in 202406. While this could be part of a planned strategy for a housing provider, it raises concerns about long-term financial sustainability without additional funding sources or a shift in operational model.
What is the primary cause of the consistent operational deficits?
The filings show that expenses consistently outpace revenue. For example, in 202406, expenses were $105,560 while revenue was $77,652. Without a detailed breakdown of expenses, it's difficult to pinpoint the exact cause, but it suggests that the organization's income generation is insufficient to cover its operational costs.
How does the lack of officer compensation impact the organization?
The 0% officer compensation reported across all filings means that no funds are being used for executive salaries. This is a positive indicator that resources are being directed towards the organization's programs and operations, rather than high administrative overhead in terms of executive pay.
Filing History
IRS 990 filing history for Mace Apartments Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2024), Mace Apartments Inc's revenue has grown by 114.6%, moving from $36K to $78K. Total assets decreased by 36.1% over the same period, from $1.3M to $836K. Total functional expenses rose by 43.5%, from $74K to $106K. In its most recent filing year (2024), Mace Apartments Inc reported a deficit of $28K, with expenses exceeding revenue. The organization holds $30K in liabilities against $836K in assets (debt-to-asset ratio: 3.5%), resulting in net assets of $806K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $78K | $106K | $836K | $30K | — | — |
| 2023 | $59K | $97K | $862K | $28K | — | View 990 |
| 2022 | $53K | $97K | $897K | $24K | — | View 990 |
| 2021 | $54K | $86K | $935K | $18K | — | — |
| 2020 | $53K | $93K | $962K | $14K | — | View 990 |
| 2019 | $58K | $86K | $999K | $10K | — | View 990 |
| 2018 | $49K | $79K | $1.0M | $16K | — | View 990 |
| 2017 | $48K | $89K | $1.1M | $16K | — | View 990 |
| 2016 | $49K | $84K | $1.1M | $16K | — | View 990 |
| 2015 | $50K | $82K | $1.1M | $16K | — | View 990 |
| 2014 | $50K | $81K | $1.2M | $11K | — | View 990 |
| 2013 | $72K | $73K | $1.2M | $11K | — | View 990 |
| 2012 | $40K | $76K | $1.3M | $1.4M | — | View 990 |
| 2011 | $36K | $74K | $1.3M | $1.4M | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $78K, expenses of $106K, and assets of $836K (revenue +32.7% year-over-year).
- 2023: Revenue of $59K, expenses of $97K, and assets of $862K (revenue +10.0% year-over-year).
- 2022: Revenue of $53K, expenses of $97K, and assets of $897K (revenue -0.7% year-over-year).
- 2021: Revenue of $54K, expenses of $86K, and assets of $935K (revenue +1.2% year-over-year).
- 2020: Revenue of $53K, expenses of $93K, and assets of $962K (revenue -9.2% year-over-year).
- 2019: Revenue of $58K, expenses of $86K, and assets of $999K (revenue +19.7% year-over-year).
- 2018: Revenue of $49K, expenses of $79K, and assets of $1.0M (revenue +0.6% year-over-year).
- 2017: Revenue of $48K, expenses of $89K, and assets of $1.1M (revenue -0.7% year-over-year).
- 2016: Revenue of $49K, expenses of $84K, and assets of $1.1M (revenue -3.3% year-over-year).
- 2015: Revenue of $50K, expenses of $82K, and assets of $1.1M (revenue +1.6% year-over-year).
- 2014: Revenue of $50K, expenses of $81K, and assets of $1.2M (revenue -31.1% year-over-year).
- 2013: Revenue of $72K, expenses of $73K, and assets of $1.2M (revenue +80.6% year-over-year).
- 2012: Revenue of $40K, expenses of $76K, and assets of $1.3M (revenue +10.3% year-over-year).
- 2011: Revenue of $36K, expenses of $74K, and assets of $1.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Mace Apartments Inc:
Data Sources and Methodology
This transparency report for Mace Apartments 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.