Mercy Chefs Inc

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Mercy Chefs Inc Form 990, Revenue, CEO Pay, and IRS Filing Signals

Mercy Chefs Inc is surfaced here as a decision-ready nonprofit financial profile, not just a charity listing. The page consolidates IRS Form 990 revenue, expenses, assets, tax-exempt classification, executive compensation, mission score, red flags, and year-by-year filing history so donors, researchers, journalists, and grant teams can answer the common search questions around Mercy Chefs Inc in one place.

Is Mercy Chefs Inc Legit?

Some Concerns

Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →

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Request a concise report for Mercy Chefs Inc with revenue, expenses, executive compensation, red flags, peer context, and IRS source links. You can also request CSV exports or watchlist updates for future filings.

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Mercy Chefs Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.

About Mercy Chefs Inc

Mercy Chefs Inc (EIN: 205050449) is a nonprofit organization based in Portsmouth, VA, classified under NTEE code P60. The organization reported total revenue of $25.6M and total assets of $17.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Mercy Chefs Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

Organization Overview

Mercy Chefs Inc is a large nonprofit that has been operating for 20 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 52.3%.

Key Financial Metrics (2023)

From the most recent IRS 990 filing on record:

Financial Health Grade: B

In 2023, Mercy Chefs Inc reported a deficit of $479K with expenses exceeding revenue, holds 9.1 months of operating reserves (strong position), has a debt-to-asset ratio of 9.4% (very low leverage).

Financial Trends

Over 14 years of filings (2010–2023), Mercy Chefs Inc's revenue has grown at a compound annual growth rate (CAGR) of 52.3%.

IRS Tax-Exempt Classification

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 Mercy Chefs 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, Mercy Chefs 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 deficit of $479K, with expenses exceeding revenue.
• Debt-to-asset ratio: 9.4%.

Executive Compensation Analysis

Mercy Chefs Inc consistently reports 0% officer compensation across all available filings, indicating that no salaries are paid to its officers. This is a highly positive indicator of financial transparency and a strong commitment to directing all funds towards program services.

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 Mercy Chefs Inc's IRS 990 filings:

• Expenses slightly exceeded revenue in the latest fiscal year (2023), though this is an isolated instance in a trend of growth.

Strengths

The following positive indicators were identified for Mercy Chefs Inc:

• Exceptional transparency with 0% officer compensation reported across all filings.
• Rapid and sustained revenue growth over the past decade, indicating strong donor support and operational expansion.
• Strong asset base ($10,825,620 in 2023) relative to liabilities ($1,022,109), indicating financial stability.
• High likelihood of strong program spending given the 0% officer compensation and mission focus (NTEE P60 - Food, Agriculture, & Nutrition).
• Consistent financial reporting with 14 filings, demonstrating good governance.

Frequently Asked Questions about Mercy Chefs Inc

Filing History

IRS 990 filing history for Mercy Chefs Inc showing financial trends over 14 years of public records:

Over 14 years of IRS 990 filings (2010–2023), Mercy Chefs Inc's revenue has grown by 23580.3%, moving from $58K to $13.7M. Total assets increased by 35232.8% over the same period, from $31K to $10.8M. Total functional expenses rose by 21022.3%, from $67K to $14.2M. In its most recent filing year (2023), Mercy Chefs Inc reported a deficit of $479K, with expenses exceeding revenue. The organization holds $1.0M in liabilities against $10.8M in assets (debt-to-asset ratio: 9.4%), resulting in net assets of $9.8M.

Year-by-Year Financial Summary

• 2023: Revenue of $13.7M, expenses of $14.2M, and assets of $10.8M (revenue -28.6% year-over-year).
• 2022: Revenue of $19.2M, expenses of $12.9M, and assets of $11.2M (revenue +86.8% year-over-year).
• 2021: Revenue of $10.3M, expenses of $8.6M, and assets of $5.2M (revenue +60.5% year-over-year).
• 2020: Revenue of $6.4M, expenses of $5.7M, and assets of $2.3M (revenue +123.4% year-over-year).
• 2019: Revenue of $2.9M, expenses of $3.0M, and assets of $1.3M (revenue +13.1% year-over-year).
• 2018: Revenue of $2.5M, expenses of $2.7M, and assets of $1.4M (revenue -16.2% year-over-year).
• 2017: Revenue of $3.0M, expenses of $2.1M, and assets of $1.4M (revenue +97.8% year-over-year).
• 2016: Revenue of $1.5M, expenses of $1.4M, and assets of $485K (revenue +60.1% year-over-year).
• 2015: Revenue of $958K, expenses of $903K, and assets of $355K (revenue +40.3% year-over-year).
• 2014: Revenue of $683K, expenses of $813K, and assets of $298K (revenue -41.7% year-over-year).
• 2013: Revenue of $1.2M, expenses of $1.1M, and assets of $429K (revenue +46.0% year-over-year).
• 2012: Revenue of $802K, expenses of $422K, and assets of $400K (revenue +1356.6% year-over-year).
• 2011: Revenue of $55K, expenses of $65K, and assets of $20K (revenue -5.1% year-over-year).
• 2010: Revenue of $58K, expenses of $67K, and assets of $31K.

View Individual Filing Years

Explore detailed financial data from each IRS 990 filing year for Mercy Chefs Inc:

Data Sources and Methodology

This transparency report for Mercy Chefs 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.