Madison Hoop Dreams Inc
Madison Hoop Dreams Inc operates with volunteer leadership and consistent operational surpluses in recent years.
EIN: 208871626 · Madison, CT · NTEE: N62 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $160K |
| Total Expenses | $115K |
| Program Spending | 90% |
| CEO/Top Officer Pay | $100,000 |
| Net Assets | $8K |
| Transparency Score | 92/100 |
Is Madison Hoop Dreams Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Madison Hoop Dreams Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Madison Hoop Dreams Inc
Madison Hoop Dreams Inc (EIN: 208871626) is a nonprofit organization based in Madison, CT, classified under NTEE code N62. The organization reported total revenue of $160K and total assets of $21K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Madison Hoop Dreams Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Madison Hoop Dreams 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 1.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $116K |
| Total Expenses | $115K |
| Surplus / Deficit | +$906 |
| Total Assets | $8K |
| Net Assets | $8K |
| Operating Margin | 0.8% |
| Months of Reserves | 0.8 months |
Financial Health Grade: A
In 2023, Madison Hoop Dreams Inc reported a surplus of $906 with revenue exceeding expenses, holds 0.8 months of operating reserves (limited).
Financial Trends
Over 13 years of filings (2011–2023), Madison Hoop Dreams Inc's revenue has grown at a compound annual growth rate (CAGR) of 1.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +50.2% | +58.3% | +12.8% |
| 2022 | +232.6% | +156.8% | +173.4% |
| 2021 | +8.6% | +27.3% | -73.3% |
| 2020 | -67.7% | -60.2% | +1.4% |
| 2019 | -29.1% | -40.6% | +52.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| 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 Madison Hoop Dreams Inc with a Mission Score of 92 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: 7%
- programs: 90%
- fundraising: 3%
According to IRS 990 filings, Madison Hoop Dreams Inc allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. With 90% 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 $906, with revenue exceeding expenses.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that the organization is run entirely by volunteers, which is highly efficient for an organization of its size with revenues around $100,000 annually.
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 Madison Hoop Dreams Inc's IRS 990 filings:
- Relatively small asset base ($21,326 latest) provides limited financial cushion for future growth or unexpected events.
Strengths
The following positive indicators were identified for Madison Hoop Dreams Inc:
- Consistent 0% officer compensation, indicating volunteer leadership and high efficiency.
- Operational surpluses in recent years (e.g., $906 surplus in 2023, $4,487 in 2022).
- Zero liabilities reported in the last three filing periods (2021-2023), indicating financial health.
- Strong revenue growth from $23,169 in 2021 to $115,738 in 2023.
- Consistent IRS 990 filing history (13 filings), demonstrating transparency.
Frequently Asked Questions about Madison Hoop Dreams Inc
Is Madison Hoop Dreams Inc a legitimate charity?
Madison Hoop Dreams Inc (EIN: 208871626) is a registered tax-exempt nonprofit based in Connecticut. Our AI analysis gives it a Mission Score of 92/100. It has 13 years of IRS 990 filings on record. Total revenue: $160K. 1 red flag identified. 5 strengths noted. Financial health grade: A.
How does Madison Hoop Dreams Inc spend its money?
Madison Hoop Dreams Inc directs 90% of its spending to programs and services. Fundraising costs 3%. This exceeds the 65% industry benchmark.
Are donations to Madison Hoop Dreams Inc tax-deductible?
Madison Hoop Dreams Inc is registered as a tax-exempt nonprofit (EIN: 208871626). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Madison Hoop Dreams Inc CEO make?
Madison Hoop Dreams Inc's highest-compensated officer earns $100,000 annually. The organization reported $160K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Madison Hoop Dreams Inc's spending goes to programs?
Madison Hoop Dreams Inc directs 90% to programs, 3% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Madison Hoop Dreams Inc compare to similar nonprofits?
With a transparency score of 92/100 (Excellent), Madison Hoop Dreams Inc is above average for NTEE category N62 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Madison Hoop Dreams Inc located?
Madison Hoop Dreams Inc is headquartered in Madison, Connecticut and files with the IRS under EIN 208871626. It is classified under NTEE code N62.
How many years of IRS 990 filings does Madison Hoop Dreams Inc have?
Madison Hoop Dreams 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 $160K in total revenue.
Is Madison Hoop Dreams Inc a good charity?
Based on the available data, Madison Hoop Dreams Inc appears to be a good charity. It consistently reports zero officer compensation, indicating volunteer leadership, and has shown operational surpluses in recent years (e.g., $115,738 revenue vs. $114,832 expenses in 2023), suggesting efficient use of funds for its mission.
How does Madison Hoop Dreams Inc manage its finances?
The organization manages its finances prudently, often operating with a slight surplus and maintaining zero liabilities in recent years. Its expenses closely track its revenues, indicating a lean operation focused on direct program delivery.
What is the trend in Madison Hoop Dreams Inc's revenue?
Madison Hoop Dreams Inc's revenue has fluctuated over the years, with a notable increase from $23,169 in 2021 to $115,738 in 2023, showing strong recent growth after a dip.
Filing History
IRS 990 filing history for Madison Hoop Dreams Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Madison Hoop Dreams Inc's revenue has grown by 20.7%, moving from $96K to $116K. Total assets decreased by 11.9% over the same period, from $9K to $8K. Total functional expenses rose by 23%, from $93K to $115K. In its most recent filing year (2023), Madison Hoop Dreams Inc reported a surplus of $906, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $116K | $115K | $8K | $0 | — | — |
| 2022 | $77K | $73K | $7K | $0 | — | View 990 |
| 2021 | $23K | $28K | $3K | $0 | — | View 990 |
| 2020 | $21K | $22K | $10K | $2K | — | — |
| 2019 | $66K | $56K | $10K | $1K | — | View 990 |
| 2018 | $93K | $94K | $6K | $8K | — | View 990 |
| 2017 | $128K | $122K | $9K | $10K | — | View 990 |
| 2016 | $131K | $139K | $3K | $10K | — | View 990 |
| 2015 | $131K | $130K | $4K | $0 | — | View 990 |
| 2014 | $133K | $132K | $10K | $0 | — | View 990 |
| 2013 | $139K | $137K | $8K | $0 | — | View 990 |
| 2012 | $111K | $109K | $6K | $0 | — | View 990 |
| 2011 | $96K | $93K | $9K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $116K, expenses of $115K, and assets of $8K (revenue +50.2% year-over-year).
- 2022: Revenue of $77K, expenses of $73K, and assets of $7K (revenue +232.6% year-over-year).
- 2021: Revenue of $23K, expenses of $28K, and assets of $3K (revenue +8.6% year-over-year).
- 2020: Revenue of $21K, expenses of $22K, and assets of $10K (revenue -67.7% year-over-year).
- 2019: Revenue of $66K, expenses of $56K, and assets of $10K (revenue -29.1% year-over-year).
- 2018: Revenue of $93K, expenses of $94K, and assets of $6K (revenue -27.1% year-over-year).
- 2017: Revenue of $128K, expenses of $122K, and assets of $9K (revenue -2.6% year-over-year).
- 2016: Revenue of $131K, expenses of $139K, and assets of $3K (revenue +-0.0% year-over-year).
- 2015: Revenue of $131K, expenses of $130K, and assets of $4K (revenue -1.5% year-over-year).
- 2014: Revenue of $133K, expenses of $132K, and assets of $10K (revenue -3.8% year-over-year).
- 2013: Revenue of $139K, expenses of $137K, and assets of $8K (revenue +25.2% year-over-year).
- 2012: Revenue of $111K, expenses of $109K, and assets of $6K (revenue +15.5% year-over-year).
- 2011: Revenue of $96K, expenses of $93K, and assets of $9K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Madison Hoop Dreams Inc:
Data Sources and Methodology
This transparency report for Madison Hoop Dreams 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.