Needles Eye Ministries Inc
EIN: 274017887 · Rocky Mount, NC · NTEE: T20
| Metric | Value |
|---|---|
| Total Revenue | $178K |
| Total Expenses | $117K |
| Net Assets | $84K |
Is Needles Eye Ministries Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Needles Eye Ministries Inc
Needles Eye Ministries Inc (EIN: 274017887) is a nonprofit organization based in Rocky Mount, NC, classified under NTEE code T20. The organization reported total revenue of $178K and total assets of $81K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Needles Eye Ministries Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Needles Eye Ministries Inc is a small nonprofit that has been operating for 13 years, with 9 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of -3.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $61K |
| Total Expenses | $117K |
| Surplus / Deficit | $-56,230 |
| Total Assets | $84K |
| Total Liabilities | $1 |
| Net Assets | $84K |
| Operating Margin | -92.2% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 8.6 months |
Financial Health Grade: B
In 2023, Needles Eye Ministries Inc reported a deficit of $56K with expenses exceeding revenue, holds 8.6 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 9 years of filings (2012–2023), Needles Eye Ministries Inc's revenue has declined at a compound annual growth rate (CAGR) of -3.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -59.6% | +10.9% | -40.1% |
| 2022 | +9.1% | -14.5% | +47.7% |
| 2021 | +55.2% | +102.2% | +18.3% |
| 2020 | -4.9% | -20.9% | +53.5% |
| 2019 | +79.9% | +35.4% | -48.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2013 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Needles Eye Ministries Inc has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Needles Eye Ministries Inc with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $56K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Frequently Asked Questions about Needles Eye Ministries Inc
Is Needles Eye Ministries Inc a legitimate charity?
Needles Eye Ministries Inc (EIN: 274017887) is a registered tax-exempt nonprofit based in North Carolina. It has 9 years of IRS 990 filings on record. Total revenue: $178K. No red flags identified. Financial health grade: B.
How does Needles Eye Ministries Inc spend its money?
Needles Eye Ministries Inc reported $178K in total revenue in IRS 990 filings. 9 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Needles Eye Ministries Inc tax-deductible?
Needles Eye Ministries Inc is registered as a tax-exempt nonprofit (EIN: 274017887). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Needles Eye Ministries Inc located?
Needles Eye Ministries Inc is headquartered in Rocky Mount, North Carolina and files with the IRS under EIN 274017887. It is classified under NTEE code T20.
How many years of IRS 990 filings does Needles Eye Ministries Inc have?
Needles Eye Ministries Inc has 9 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 $178K in total revenue.
Filing History
IRS 990 filing history for Needles Eye Ministries Inc showing financial trends over 9 years of public records:
Over 9 years of IRS 990 filings (2012–2023), Needles Eye Ministries Inc's revenue has declined by 33.1%, moving from $91K to $61K. Total assets decreased by 22% over the same period, from $108K to $84K. Total functional expenses rose by 790.4%, from $13K to $117K. In its most recent filing year (2023), Needles Eye Ministries Inc reported a deficit of $56K, with expenses exceeding revenue. The organization holds $1 in liabilities against $84K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $84K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $61K | $117K | $84K | $1 | — | — |
| 2022 | $151K | $106K | $140K | $1 | — | View 990 |
| 2021 | $138K | $124K | $95K | $1 | — | View 990 |
| 2020 | $89K | $61K | $80K | $1 | — | — |
| 2019 | $94K | $77K | $52K | $1 | — | — |
| 2015 | $52K | $57K | $102K | $0 | — | View 990 |
| 2014 | $43K | $54K | $107K | $0 | — | View 990 |
| 2013 | $52K | $41K | $118K | $0 | — | View 990 |
| 2012 | $91K | $13K | $108K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $61K, expenses of $117K, and assets of $84K (revenue -59.6% year-over-year).
- 2022: Revenue of $151K, expenses of $106K, and assets of $140K (revenue +9.1% year-over-year).
- 2021: Revenue of $138K, expenses of $124K, and assets of $95K (revenue +55.2% year-over-year).
- 2020: Revenue of $89K, expenses of $61K, and assets of $80K (revenue -4.9% year-over-year).
- 2019: Revenue of $94K, expenses of $77K, and assets of $52K (revenue +79.9% year-over-year).
- 2015: Revenue of $52K, expenses of $57K, and assets of $102K (revenue +22.1% year-over-year).
- 2014: Revenue of $43K, expenses of $54K, and assets of $107K (revenue -17.7% year-over-year).
- 2013: Revenue of $52K, expenses of $41K, and assets of $118K (revenue -43.1% year-over-year).
- 2012: Revenue of $91K, expenses of $13K, and assets of $108K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Needles Eye Ministries Inc:
Data Sources and Methodology
This transparency report for Needles Eye Ministries 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.