Margate Terrace Corporation
Margate Terrace Corporation: Stable Finances, Limited Program Spending
EIN: 222706023 · Margate, NJ · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $1.7M |
| Total Expenses | $1.4M |
| Program Spending | 30% |
| Net Assets | $-1,177,390 |
| Transparency Score | 45/100 |
Is Margate Terrace Corporation Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Margate Terrace Corporation directs 30% of its spending to programs. This falls below the 65% benchmark. Donors may want to investigate further.
About Margate Terrace Corporation
Margate Terrace Corporation (EIN: 222706023) is a nonprofit organization based in Margate, NJ. The organization reported total revenue of $1.7M and total assets of $5.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Margate Terrace Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Margate Terrace Corporation is a mid-size nonprofit that has been operating for 39 years, with 8 years of IRS 990 filings on record (2012–2022). Revenue has grown at a compound annual rate of 0.9%.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.5M |
| Total Expenses | $1.4M |
| Surplus / Deficit | +$83K |
| Total Assets | $3.9M |
| Total Liabilities | $5.1M |
| Net Assets | $-1,177,390 |
| Operating Margin | 5.5% |
| Debt-to-Asset Ratio | 129.8% |
| Months of Reserves | 33.6 months |
Financial Health Grade: A
In 2022, Margate Terrace Corporation reported a surplus of $83K with revenue exceeding expenses, holds 33.6 months of operating reserves (strong position), has a debt-to-asset ratio of 129.8% (high leverage).
Financial Trends
Over 8 years of filings (2012–2022), Margate Terrace Corporation's revenue has grown at a compound annual growth rate (CAGR) of 0.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | +2.0% | -8.3% | -0.3% |
| 2021 | +1.1% | +0.8% | -3.7% |
| 2020 | +8.5% | +7.2% | +28.5% |
| 2016 | -0.7% | +2.0% | -1.3% |
| 2015 | -1.7% | +8.5% | -3.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1987 |
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 Margate Terrace Corporation 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: 50%
- programs: 30%
- fundraising: 20%
According to IRS 990 filings, Margate Terrace Corporation allocates its expenses as follows: admin: 50%, programs: 30%, fundraising: 20%. Only 30% is directed toward programs, which may warrant further investigation by donors.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $83K, with revenue exceeding expenses.
- Debt-to-asset ratio: 129.8%.
Executive Compensation Analysis
Executive compensation cannot be assessed as no specific figures for individual compensation are provided in the available data.
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 Margate Terrace Corporation's IRS 990 filings:
- A significant portion of expenses appears to be allocated to administrative costs rather than direct program spending, based on the spending breakdown.
- The organization's primary activity seems to be managing a property, which may limit its direct charitable impact.
Strengths
The following positive indicators were identified for Margate Terrace Corporation:
- Consistent revenue generation and asset base over multiple years indicate financial stability.
- The organization has maintained a positive net asset position, suggesting sound financial management.
Frequently Asked Questions about Margate Terrace Corporation
Is Margate Terrace Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Margate Terrace Corporation (EIN: 222706023) significant concerns. Mission Score: 45/100. 2 red flags identified, 2 strengths noted.
How does Margate Terrace Corporation spend its money?
Margate Terrace Corporation directs 30% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Margate Terrace Corporation tax-deductible?
Margate Terrace Corporation is registered as a tax-exempt nonprofit (EIN: 222706023). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Margate Terrace Corporation's spending goes to programs?
Margate Terrace Corporation directs 30% to programs, 20% to fundraising. This falls below the 65% industry benchmark, which may warrant further review by donors.
Where is Margate Terrace Corporation located?
Margate Terrace Corporation is headquartered in Margate, New Jersey and files with the IRS under EIN 222706023.
How many years of IRS 990 filings does Margate Terrace Corporation have?
Margate Terrace Corporation has 8 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 $1.7M in total revenue.
What does Margate Terrace Corporation do?
Margate Terrace Corporation is a nonprofit organization in the Unknown sector, located in Margate, New Jersey. It is classified under NTEE code Unknown.
How much revenue does Margate Terrace Corporation have?
Margate Terrace Corporation reported total revenue of $1,679,287. Based on 8 IRS 990 filings on record.
What are Margate Terrace Corporation's total assets?
Margate Terrace Corporation holds total assets of $5,239,104 as reported in IRS 990 filings.
Where is Margate Terrace Corporation located?
Margate Terrace Corporation is based in Margate, New Jersey.
What is Margate Terrace Corporation's EIN?
Margate Terrace Corporation's Employer Identification Number (EIN) is 222706023. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Margate Terrace Corporation?
Margate Terrace Corporation is classified under NTEE code Unknown (Unknown).
Is Margate Terrace Corporation a registered 501(c)(3)?
Margate Terrace Corporation appears in IRS records (EIN: 222706023). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Margate Terrace Corporation file IRS Form 990?
Yes, Margate Terrace Corporation has 8 IRS Form 990 filings on record. The most recent covers tax period 202206.
What was Margate Terrace Corporation's revenue in 2022?
In the 202206 filing period, Margate Terrace Corporation reported total revenue of $1,494,574, total expenses of $1,411,763, and net assets of $3,948,785.
Is Margate Terrace Corporation's revenue growing or declining?
Margate Terrace Corporation's revenue is relatively stable. Revenue went from $1,465,363 (202106) to $1,494,574 (202206), a +2.0% change. Based on 8 filings on record.
What is Margate Terrace Corporation's most recent 990 filing?
The most recent IRS Form 990 filing for Margate Terrace Corporation covers tax period 202206. It shows revenue of $1,494,574, expenses of $1,411,763, total assets of $3,948,785, and liabilities of $5,126,175.
How much does Margate Terrace Corporation spend on programs vs administration?
Based on IRS 990 analysis, Margate Terrace Corporation allocates approximately 30% of expenses to program services, 50% to administrative costs, and 20% to fundraising. Overhead costs appear high relative to program spending.
Is Margate Terrace Corporation a trustworthy charity?
Based on AI analysis of IRS 990 data, Margate Terrace Corporation shows mixed signals. Mission Score: 45/100 (Fair). 2 red flags identified. 2 strengths noted.
What are the red flags for Margate Terrace Corporation?
The following concerns were identified: A significant portion of expenses appears to be allocated to administrative costs rather than direct program spending, based on the spending breakdown.. The organization's primary activity seems to be managing a property, which may limit its direct charitable impact.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Margate Terrace Corporation's strengths?
Positive indicators for Margate Terrace Corporation include: Consistent revenue generation and asset base over multiple years indicate financial stability.. The organization has maintained a positive net asset position, suggesting sound financial management.. These findings are derived from AI analysis of the organization's financial filings.
How does Margate Terrace Corporation compensate executives?
Executive compensation cannot be assessed as no specific figures for individual compensation are provided in the available data. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the consistent revenue and asset figures, what are the primary activities and beneficiaries of Margate Terrace Corporation?
The provided data suggests the organization's primary activity is property management, indicated by stable assets and revenue, but specific program details or beneficiaries are not clear from the filings.
Filing History
IRS 990 filing history for Margate Terrace Corporation showing financial trends over 8 years of public records:
Over 8 years of IRS 990 filings (2012–2022), Margate Terrace Corporation's revenue has grown by 9.2%, moving from $1.4M to $1.5M. Total assets increased by 18.4% over the same period, from $3.3M to $3.9M. Total functional expenses rose by 11.8%, from $1.3M to $1.4M. In its most recent filing year (2022), Margate Terrace Corporation reported a surplus of $83K, with revenue exceeding expenses. The organization holds $5.1M in liabilities against $3.9M in assets (debt-to-asset ratio: 129.8%), resulting in net assets of $-1,177,390.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2022 | $1.5M | $1.4M | $3.9M | $5.1M | — | View 990 |
| 2021 | $1.5M | $1.5M | $4.0M | $5.2M | — | View 990 |
| 2020 | $1.4M | $1.5M | $4.1M | $5.3M | — | View 990 |
| 2016 | $1.3M | $1.4M | $3.2M | $3.8M | — | View 990 |
| 2015 | $1.3M | $1.4M | $3.2M | $3.7M | — | View 990 |
| 2014 | $1.4M | $1.3M | $3.4M | $3.8M | — | View 990 |
| 2013 | $1.4M | $1.3M | $3.4M | $3.9M | — | View 990 |
| 2012 | $1.4M | $1.3M | $3.3M | $4.0M | — | View 990 |
Year-by-Year Financial Summary
- 2022: Revenue of $1.5M, expenses of $1.4M, and assets of $3.9M (revenue +2.0% year-over-year).
- 2021: Revenue of $1.5M, expenses of $1.5M, and assets of $4.0M (revenue +1.1% year-over-year).
- 2020: Revenue of $1.4M, expenses of $1.5M, and assets of $4.1M (revenue +8.5% year-over-year).
- 2016: Revenue of $1.3M, expenses of $1.4M, and assets of $3.2M (revenue -0.7% year-over-year).
- 2015: Revenue of $1.3M, expenses of $1.4M, and assets of $3.2M (revenue -1.7% year-over-year).
- 2014: Revenue of $1.4M, expenses of $1.3M, and assets of $3.4M (revenue +-0.0% year-over-year).
- 2013: Revenue of $1.4M, expenses of $1.3M, and assets of $3.4M (revenue +0.0% year-over-year).
- 2012: Revenue of $1.4M, expenses of $1.3M, and assets of $3.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Margate Terrace Corporation:
Data Sources and Methodology
This transparency report for Margate Terrace Corporation 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.