Newjets Inc
Newjets Inc. shows consistent revenue but recent deficit spending and a significant increase in liabilities.
EIN: 205956938 · Eden Prairie, MN · NTEE: N70 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.3M |
| Total Expenses | $1.3M |
| Program Spending | 80% |
| Net Assets | $518K |
| Transparency Score | 75/100 |
Is Newjets Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Newjets Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Newjets Inc
Newjets Inc (EIN: 205956938) is a nonprofit organization based in Eden Prairie, MN, classified under NTEE code N70. The organization reported total revenue of $1.3M and total assets of $6.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Newjets Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Newjets Inc is a mid-size nonprofit that has been operating for 19 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 8.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.2M |
| Total Expenses | $1.3M |
| Surplus / Deficit | $-136,897 |
| Total Assets | $6.9M |
| Total Liabilities | $6.4M |
| Net Assets | $518K |
| Operating Margin | -11.5% |
| Debt-to-Asset Ratio | 92.5% |
| Months of Reserves | 62.7 months |
Financial Health Grade: C
In 2023, Newjets Inc reported a deficit of $137K with expenses exceeding revenue, holds 62.7 months of operating reserves (strong position), has a debt-to-asset ratio of 92.5% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Newjets Inc's revenue has grown at a compound annual growth rate (CAGR) of 8.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +5.1% | +6.5% | -4.1% |
| 2022 | -6.6% | +9.1% | +497.1% |
| 2021 | +32.2% | +26.3% | +9.1% |
| 2020 | -14.2% | -14.8% | +3.3% |
| 2019 | +0.5% | +4.0% | +6.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2100 |
| IRS Ruling Date | 2007 |
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 Newjets Inc with a Mission Score of 75 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, Newjets 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.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $137K, with expenses exceeding revenue.
- Debt-to-asset ratio: 92.5%.
Executive Compensation Analysis
Newjets Inc. consistently reports 0% officer compensation across all available filings, indicating that no salaries or benefits are paid to its officers, which is highly unusual for an organization of its size and revenue, or that compensation is reported differently.
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 Newjets Inc's IRS 990 filings:
- Significant increase in liabilities without clear explanation in summary data (from $345,778 in 2021 to $6,565,765 in 2022)
- Expenses exceeding revenue in the last two reported periods (2022 and 2023), indicating deficit spending.
- Consistent 0% officer compensation, which is unusual for an organization of this size and could indicate a lack of transparency in reporting executive pay or reliance on external support.
Strengths
The following positive indicators were identified for Newjets Inc:
- Consistent revenue generation over $1 million annually.
- No reported officer compensation, suggesting resources are not allocated to executive salaries.
- Long filing history (13 filings) indicates sustained operation and compliance with IRS reporting requirements.
Frequently Asked Questions about Newjets Inc
Is Newjets Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Newjets Inc (EIN: 205956938) some concerns. Mission Score: 75/100. 3 red flags identified, 3 strengths noted.
How does Newjets Inc spend its money?
Newjets Inc directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Newjets Inc tax-deductible?
Newjets Inc is registered as a tax-exempt nonprofit (EIN: 205956938). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Newjets Inc's spending goes to programs?
Newjets Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Newjets Inc compare to similar nonprofits?
With a transparency score of 75/100 (Good), Newjets Inc is above average for NTEE category N70 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Newjets Inc located?
Newjets Inc is headquartered in Eden Prairie, Minnesota and files with the IRS under EIN 205956938. It is classified under NTEE code N70.
How many years of IRS 990 filings does Newjets Inc have?
Newjets Inc has 13 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 $1.3M in total revenue.
What caused the substantial increase in assets and liabilities between 2021 and 2022?
Between 2021 and 2022, Newjets Inc.'s assets increased from $1,209,250 to $7,220,819, and liabilities rose from $345,778 to $6,565,765. This significant change suggests a major financial event, such as a large capital acquisition, a new loan, or a change in accounting for certain assets or liabilities, which is not detailed in the provided summary.
How does Newjets Inc. manage its operations without reporting any officer compensation?
The consistent reporting of 0% officer compensation across all filings is unusual for an organization with over $1 million in annual revenue. This could indicate that executive functions are performed by volunteers, compensated through a related entity, or that compensation is categorized under other expense lines, which would require further investigation of the full 990 forms.
What is the long-term plan for addressing the recent trend of expenses exceeding revenue?
In both 2022 and 2023, Newjets Inc. reported expenses exceeding revenue (e.g., $1,323,921 expenses vs. $1,187,024 revenue in 2023). This deficit spending, if sustained, could deplete reserves or increase debt. The organization would need a strategy to either increase revenue or reduce expenses to ensure financial sustainability.
Filing History
IRS 990 filing history for Newjets Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Newjets Inc's revenue has grown by 157.6%, moving from $461K to $1.2M. Total assets increased by 6721.4% over the same period, from $101K to $6.9M. Total functional expenses rose by 189.2%, from $458K to $1.3M. In its most recent filing year (2023), Newjets Inc reported a deficit of $137K, with expenses exceeding revenue. The organization holds $6.4M in liabilities against $6.9M in assets (debt-to-asset ratio: 92.5%), resulting in net assets of $518K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.2M | $1.3M | $6.9M | $6.4M | — | — |
| 2022 | $1.1M | $1.2M | $7.2M | $6.6M | — | View 990 |
| 2021 | $1.2M | $1.1M | $1.2M | $346K | — | View 990 |
| 2020 | $915K | $902K | $1.1M | $277K | — | View 990 |
| 2019 | $1.1M | $1.1M | $1.1M | $271K | — | View 990 |
| 2018 | $1.1M | $1.0M | $1.0M | $232K | — | View 990 |
| 2017 | $1.0M | $1.0M | $973K | $229K | — | View 990 |
| 2016 | $1.0M | $922K | $931K | $200K | — | View 990 |
| 2015 | $983K | $893K | $819K | $176K | — | View 990 |
| 2014 | $927K | $792K | $738K | $184K | — | View 990 |
| 2013 | $737K | $514K | $579K | $0 | — | View 990 |
| 2012 | $733K | $460K | $478K | $122K | — | View 990 |
| 2011 | $461K | $458K | $101K | $19K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.2M, expenses of $1.3M, and assets of $6.9M (revenue +5.1% year-over-year).
- 2022: Revenue of $1.1M, expenses of $1.2M, and assets of $7.2M (revenue -6.6% year-over-year).
- 2021: Revenue of $1.2M, expenses of $1.1M, and assets of $1.2M (revenue +32.2% year-over-year).
- 2020: Revenue of $915K, expenses of $902K, and assets of $1.1M (revenue -14.2% year-over-year).
- 2019: Revenue of $1.1M, expenses of $1.1M, and assets of $1.1M (revenue +0.5% year-over-year).
- 2018: Revenue of $1.1M, expenses of $1.0M, and assets of $1.0M (revenue +2.7% year-over-year).
- 2017: Revenue of $1.0M, expenses of $1.0M, and assets of $973K (revenue +2.4% year-over-year).
- 2016: Revenue of $1.0M, expenses of $922K, and assets of $931K (revenue +2.5% year-over-year).
- 2015: Revenue of $983K, expenses of $893K, and assets of $819K (revenue +6.1% year-over-year).
- 2014: Revenue of $927K, expenses of $792K, and assets of $738K (revenue +25.7% year-over-year).
- 2013: Revenue of $737K, expenses of $514K, and assets of $579K (revenue +0.6% year-over-year).
- 2012: Revenue of $733K, expenses of $460K, and assets of $478K (revenue +59.1% year-over-year).
- 2011: Revenue of $461K, expenses of $458K, and assets of $101K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Newjets Inc:
Data Sources and Methodology
This transparency report for Newjets 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.