Mid Atlantic Technology Research And Innovation Center Inc
Mid Atlantic Technology Research And Innovation Center Inc reports negative revenue and minimal expenses in 2023 after years of multi-million dollar operations.
EIN: 200208597 · Hurricane, WV · NTEE: U05 · Updated: 2026-03-28
Is Mid Atlantic Technology Research And Innovation Center Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Mid Atlantic Technology Research And Innovation Center Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Mid Atlantic Technology Research And Innovation Center Inc
Mid Atlantic Technology Research And Innovation Center Inc (EIN: 200208597) is a nonprofit organization based in Hurricane, WV, classified under NTEE code U05. The organization reported total revenue of $230K and total assets of $3.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Mid Atlantic Technology Research And Innovation Center Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Mid Atlantic Technology Research And Innovation Center Inc with a Mission Score of 65 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, Mid Atlantic Technology Research And Innovation Center 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.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, which is highly unusual for an entity that has managed tens of millions in revenue and assets over many years. This suggests either that executive compensation is below IRS reporting thresholds, or that leadership is entirely volunteer-based, indicating a strong commitment to minimizing overhead in this area.
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 Mid Atlantic Technology Research And Innovation Center Inc's IRS 990 filings:
- Significant negative revenue of $-1,141,612 in 2023, indicating major financial distress or accounting anomaly.
- Drastic reduction in expenses to $4,992 in 2023, suggesting a near-complete cessation of operations.
- Extreme volatility in annual revenue, ranging from over $16 million to negative figures, indicating an unstable funding model.
- Unusually consistent 0% officer compensation reported across all filings for an organization with multi-million dollar operations, which may warrant further scrutiny.
- Substantial decrease in assets from $8.1 million in 2022 to $3.1 million in 2023, raising questions about asset management and financial stability.
Strengths
The following positive indicators were identified for Mid Atlantic Technology Research And Innovation Center Inc:
- Historically managed significant revenues, demonstrating capacity for large-scale operations.
- Maintained substantial assets, with over $3 million remaining in 2023, providing a financial cushion.
- Consistently reported 0% officer compensation, indicating a potential commitment to minimizing executive overhead.
- Eliminated liabilities in 2023, reporting $0, a positive step in debt management.
- Long filing history (13 filings) indicates consistent compliance with IRS reporting requirements.
Frequently Asked Questions about Mid Atlantic Technology Research And Innovation Center Inc
Is Mid Atlantic Technology Research And Innovation Center Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Mid Atlantic Technology Research And Innovation Center Inc (EIN: 200208597) some concerns. Mission Score: 65/100. 5 red flags identified, 5 strengths noted.
How does Mid Atlantic Technology Research And Innovation Center Inc spend its money?
Mid Atlantic Technology Research And Innovation Center Inc directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Mid Atlantic Technology Research And Innovation Center Inc tax-deductible?
Mid Atlantic Technology Research And Innovation Center Inc is registered as a tax-exempt nonprofit (EIN: 200208597). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What caused the $-1,141,612 negative revenue in 2023?
The IRS 990 data for 2023 shows a significant negative revenue, which could be due to substantial returns of grants, major accounting adjustments, or a significant loss on investments. This drastic change from previous years' multi-million dollar revenues requires further investigation into the organization's financial statements.
Why did expenses drop to only $4,992 in 2023?
The dramatic reduction in expenses to less than $5,000 in 2023, compared to over $10 million in prior years, suggests a near-complete halt of operational activities or a significant restructuring. This aligns with the negative revenue reported for the same period.
Is the organization still actively pursuing its mission given the 2023 financial data?
The 2023 financial data, with negative revenue and minimal expenses, strongly suggests that the organization's operations were either severely curtailed or paused. It raises questions about its current capacity to fulfill its stated mission as a technology research and innovation center.
How does the organization sustain operations with 0% officer compensation reported?
The consistent reporting of 0% officer compensation across all filings is unusual for an organization of this historical scale. It implies either that executive leadership is entirely volunteer-based, or that compensation falls below IRS reporting thresholds, which could be a strategy to minimize administrative costs.
What is the current status of the organization's substantial assets?
While assets decreased from $8,158,345 in 2022 to $3,109,570 in 2023, the organization still holds over $3 million in assets. Understanding the composition and liquidity of these assets is crucial, especially in light of the recent operational changes.
Filing History
IRS 990 filing history for Mid Atlantic Technology Research And Innovation Center Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Mid Atlantic Technology Research And Innovation Center Inc's revenue has declined by 112%, moving from $9.5M to $-1,141,612. Total assets decreased by 12.3% over the same period, from $3.5M to $3.1M. Total functional expenses fell by 99.9%, from $9.0M to $5K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $-1,141,612 | $5K | $3.1M | $0 | — | View 990 |
| 2022 | $16.5M | $15.8M | $8.2M | $3.9M | — | View 990 |
| 2021 | $16.3M | $15.1M | $5.3M | $1.6M | — | View 990 |
| 2020 | $13.8M | $13.9M | $6.4M | $5.1M | — | View 990 |
| 2019 | $14.9M | $14.6M | $5.5M | $4.2M | — | View 990 |
| 2018 | $13.6M | $13.9M | $5.2M | $4.0M | — | View 990 |
| 2017 | $10.4M | $10.4M | $4.3M | $2.6M | — | View 990 |
| 2016 | $9.9M | $9.2M | $4.5M | $3.0M | — | View 990 |
| 2015 | $9.7M | $9.7M | $3.7M | $2.9M | — | View 990 |
| 2014 | $9.3M | $9.1M | $3.7M | $3.0M | — | View 990 |
| 2013 | $10.4M | $10.3M | $4.7M | $5.4M | — | View 990 |
| 2012 | $9.4M | $8.7M | $4.3M | $4.8M | — | View 990 |
| 2011 | $9.5M | $9.0M | $3.5M | $4.0M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $-1,141,612, expenses of $5K, and assets of $3.1M (revenue -106.9% year-over-year).
- 2022: Revenue of $16.5M, expenses of $15.8M, and assets of $8.2M (revenue +1.1% year-over-year).
- 2021: Revenue of $16.3M, expenses of $15.1M, and assets of $5.3M (revenue +18.1% year-over-year).
- 2020: Revenue of $13.8M, expenses of $13.9M, and assets of $6.4M (revenue -7.3% year-over-year).
- 2019: Revenue of $14.9M, expenses of $14.6M, and assets of $5.5M (revenue +9.7% year-over-year).
- 2018: Revenue of $13.6M, expenses of $13.9M, and assets of $5.2M (revenue +29.9% year-over-year).
- 2017: Revenue of $10.4M, expenses of $10.4M, and assets of $4.3M (revenue +5.1% year-over-year).
- 2016: Revenue of $9.9M, expenses of $9.2M, and assets of $4.5M (revenue +2.1% year-over-year).
- 2015: Revenue of $9.7M, expenses of $9.7M, and assets of $3.7M (revenue +4.0% year-over-year).
- 2014: Revenue of $9.3M, expenses of $9.1M, and assets of $3.7M (revenue -9.8% year-over-year).
- 2013: Revenue of $10.4M, expenses of $10.3M, and assets of $4.7M (revenue +9.7% year-over-year).
- 2012: Revenue of $9.4M, expenses of $8.7M, and assets of $4.3M (revenue -0.6% year-over-year).
- 2011: Revenue of $9.5M, expenses of $9.0M, and assets of $3.5M.
Data Sources and Methodology
This transparency report for Mid Atlantic Technology Research And Innovation Center 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.