New Springs Inc
New Springs Inc. shows strong asset growth but reported a deficit in its latest fiscal period with no disclosed officer compensation.
EIN: 204248193 · Tampa, FL · NTEE: B29 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $4.8M |
| Total Expenses | $4.8M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $5 |
| Net Assets | $2.0M |
| Transparency Score | 80/100 |
Is New Springs Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
New Springs Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About New Springs Inc
New Springs Inc (EIN: 204248193) is a nonprofit organization based in Tampa, FL, classified under NTEE code B29. The organization reported total revenue of $4.8M and total assets of $8.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of New Springs Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
New Springs Inc is a mid-size nonprofit that has been operating for 18 years, with 12 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of 8.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $4.7M |
| Total Expenses | $4.8M |
| Surplus / Deficit | $-157,908 |
| Total Assets | $9.2M |
| Total Liabilities | $7.2M |
| Net Assets | $2.0M |
| Operating Margin | -3.4% |
| Debt-to-Asset Ratio | 78.2% |
| Months of Reserves | 22.8 months |
Financial Health Grade: C
In 2023, New Springs Inc reported a deficit of $158K with expenses exceeding revenue, holds 22.8 months of operating reserves (strong position), has a debt-to-asset ratio of 78.2% (high leverage).
Financial Trends
Over 12 years of filings (2012–2023), New Springs Inc's revenue has grown at a compound annual growth rate (CAGR) of 8.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -0.8% | +3.9% | -1.1% |
| 2022 | -9.8% | +13.6% | +237.7% |
| 2021 | +275.7% | +1.5% | +73.2% |
| 2020 | -65.9% | +0.9% | +34.5% |
| 2019 | +2.4% | +1.9% | +10.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2008 |
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 New Springs Inc with a Mission Score of 80 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, New Springs Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% 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 $158K, with expenses exceeding revenue.
- Debt-to-asset ratio: 78.2%.
Executive Compensation Analysis
The consistent reporting of 0% officer compensation across all available filings for an organization with annual revenues nearing $5 million is highly unusual and could indicate either a fully volunteer-led executive team or that executive compensation is categorized differently within the financial statements, which would be a transparency concern.
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 New Springs Inc's IRS 990 filings:
- Consistent 0% officer compensation reported, which is unusual for an organization of this size and revenue, potentially indicating a lack of transparency in compensation reporting.
- Reported a deficit in the latest fiscal period (202306), with expenses exceeding revenue by $157,908.
- Significant increase in liabilities from $622,884 in 202006 to $7,186,684 in 202306, which could indicate increased debt burden.
Strengths
The following positive indicators were identified for New Springs Inc:
- Strong asset growth over the past decade, from $203,357 in 201406 to $9,194,298 in 202306.
- Generally stable revenue streams, consistently in the multi-million dollar range.
- Historically, revenues have often exceeded expenses, indicating sound financial management in most periods.
Frequently Asked Questions about New Springs Inc
Is New Springs Inc a legitimate charity?
New Springs Inc (EIN: 204248193) is a registered tax-exempt nonprofit based in Florida. Our AI analysis gives it a Mission Score of 80/100. It has 12 years of IRS 990 filings on record. Total revenue: $4.8M. 3 red flags identified. 3 strengths noted. Financial health grade: C.
How does New Springs Inc spend its money?
New Springs Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to New Springs Inc tax-deductible?
New Springs Inc is registered as a tax-exempt nonprofit (EIN: 204248193). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the New Springs Inc CEO make?
New Springs Inc's highest-compensated officer earns $5 annually. The organization reported $4.8M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of New Springs Inc's spending goes to programs?
New Springs Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does New Springs Inc compare to similar nonprofits?
With a transparency score of 80/100 (Excellent), New Springs Inc is above average for NTEE category B29 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is New Springs Inc located?
New Springs Inc is headquartered in Tampa, Florida and files with the IRS under EIN 204248193. It is classified under NTEE code B29.
How many years of IRS 990 filings does New Springs Inc have?
New Springs Inc has 12 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 $4.8M in total revenue.
How does New Springs Inc. manage to operate with 0% reported officer compensation?
The consistent reporting of 0% officer compensation across all available filings is highly unusual for an organization of this size. It could imply that executive leadership is entirely volunteer-based, or that compensation for key personnel is reported under different expense categories, which would impact transparency.
What caused the deficit in the 202306 fiscal period?
In the 202306 period, New Springs Inc. reported expenses of $4,842,968 against revenues of $4,685,060, resulting in a deficit. The specific causes are not detailed in the provided summary data but warrant further investigation into their operational costs and revenue streams for that year.
What is the nature of the significant increase in liabilities from 202006 to 202306?
Liabilities increased substantially from $622,884 in 202006 to $7,186,684 in 202306. This significant increase, alongside asset growth, could indicate substantial capital investments, debt financing for expansion, or other financial obligations that should be examined for long-term sustainability.
Filing History
IRS 990 filing history for New Springs Inc showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2023), New Springs Inc's revenue has grown by 144.8%, moving from $1.9M to $4.7M. Total assets increased by 7182.8% over the same period, from $126K to $9.2M. Total functional expenses rose by 159.8%, from $1.9M to $4.8M. In its most recent filing year (2023), New Springs Inc reported a deficit of $158K, with expenses exceeding revenue. The organization holds $7.2M in liabilities against $9.2M in assets (debt-to-asset ratio: 78.2%), resulting in net assets of $2.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $4.7M | $4.8M | $9.2M | $7.2M | — | View 990 |
| 2022 | $4.7M | $4.7M | $9.3M | $7.1M | — | View 990 |
| 2021 | $5.2M | $4.1M | $2.8M | $653K | — | View 990 |
| 2020 | $1.4M | $4.0M | $1.6M | $623K | — | View 990 |
| 2019 | $4.1M | $4.0M | $1.2M | $170K | — | View 990 |
| 2018 | $4.0M | $3.9M | $1.1M | $134K | — | View 990 |
| 2017 | $3.2M | $2.8M | $891K | $12K | — | View 990 |
| 2016 | $2.5M | $2.4M | $433K | $31K | — | View 990 |
| 2015 | $2.6M | $2.5M | $336K | $9K | — | View 990 |
| 2014 | $2.5M | $2.4M | $203K | $3K | — | View 990 |
| 2013 | $2.2M | $2.3M | $80K | $16K | — | View 990 |
| 2012 | $1.9M | $1.9M | $126K | $24K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $4.7M, expenses of $4.8M, and assets of $9.2M (revenue -0.8% year-over-year).
- 2022: Revenue of $4.7M, expenses of $4.7M, and assets of $9.3M (revenue -9.8% year-over-year).
- 2021: Revenue of $5.2M, expenses of $4.1M, and assets of $2.8M (revenue +275.7% year-over-year).
- 2020: Revenue of $1.4M, expenses of $4.0M, and assets of $1.6M (revenue -65.9% year-over-year).
- 2019: Revenue of $4.1M, expenses of $4.0M, and assets of $1.2M (revenue +2.4% year-over-year).
- 2018: Revenue of $4.0M, expenses of $3.9M, and assets of $1.1M (revenue +22.8% year-over-year).
- 2017: Revenue of $3.2M, expenses of $2.8M, and assets of $891K (revenue +32.2% year-over-year).
- 2016: Revenue of $2.5M, expenses of $2.4M, and assets of $433K (revenue -5.0% year-over-year).
- 2015: Revenue of $2.6M, expenses of $2.5M, and assets of $336K (revenue +1.9% year-over-year).
- 2014: Revenue of $2.5M, expenses of $2.4M, and assets of $203K (revenue +14.7% year-over-year).
- 2013: Revenue of $2.2M, expenses of $2.3M, and assets of $80K (revenue +15.7% year-over-year).
- 2012: Revenue of $1.9M, expenses of $1.9M, and assets of $126K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for New Springs Inc:
Data Sources and Methodology
This transparency report for New Springs 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.