Omega Charities Inc

Omega Charities Inc. consistently reports 0% officer compensation and zero liabilities, demonstrating strong financial solvency despite fluctuating revenues.

EIN: 20803693 · Great Falls, VA · NTEE: B82 · Updated: 2026-03-28

$208KRevenue

$100KAssets

92/100Mission Score (Excellent)

B82

About Omega Charities Inc

Omega Charities Inc (EIN: 20803693) is a nonprofit organization based in Great Falls, VA, classified under NTEE code B82. The organization reported total revenue of $208K and total assets of $100K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Omega Charities Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Omega Charities Inc. demonstrates a fluctuating but generally positive financial trajectory, with recent years showing significant revenue growth. For instance, revenue jumped from $14,132 in 2019 to $194,999 in 2020, and then to $135,303 in 2022, before a dip to $42,448 in 2023. Despite these fluctuations, the organization consistently maintains zero liabilities across all reported periods, indicating strong financial solvency and responsible debt management. Their asset base has also grown substantially, from $1,842 in 2015 to $267,668 in 2023, suggesting effective asset accumulation.

The organization's spending efficiency appears strong, particularly given that officer compensation has consistently been reported as 0% across all available filings. This indicates that leadership is either volunteer-based or compensated through other means not categorized as officer compensation, which is a positive sign for donor confidence. Programmatic spending, while not explicitly detailed in the provided data, can be inferred to be a significant portion of expenses given the lack of other major cost centers. The consistent absence of liabilities further reinforces a picture of sound financial management.

Transparency is high regarding executive compensation, as the 0% reported for officer compensation is a clear and consistent data point. The availability of 13 years of filing history also contributes to transparency, allowing for a comprehensive review of financial trends. The organization's ability to operate without incurring debt over such a long period is a testament to its prudent financial practices.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Omega Charities 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: 10%
programs: 90%
fundraising: 0%

According to IRS 990 filings, Omega Charities Inc allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

Executive compensation is reported as 0% across all available filings, indicating that the organization's leadership is either entirely volunteer-based or compensated through non-officer channels, which is highly favorable for a nonprofit of its size with latest revenue of $207,970.

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.

Strengths

The following positive indicators were identified for Omega Charities Inc:

Consistent 0% officer compensation, indicating efficient use of funds for mission.
Zero liabilities reported across all 13 filings, demonstrating exceptional financial solvency.
Significant asset growth from $1,842 in 2015 to $267,668 in 2023, building a strong financial foundation.
Long history of IRS 990 filings (13 periods), providing extensive financial transparency.
Expenses consistently well below revenue in most periods, allowing for asset accumulation.

Frequently Asked Questions about Omega Charities Inc

Is Omega Charities Inc. financially stable?

Yes, Omega Charities Inc. appears financially stable. They consistently report zero liabilities and have grown their assets from $1,842 in 2015 to $267,668 in 2023, indicating strong financial health despite revenue fluctuations.

How does Omega Charities Inc. manage its expenses?

The organization manages its expenses effectively, as evidenced by the consistent 0% officer compensation and the fact that expenses are generally well below revenue, allowing for asset growth. For example, in 2022, revenue was $135,303 while expenses were $33,164.

What is the trend in Omega Charities Inc.'s revenue?

Omega Charities Inc. has experienced significant revenue fluctuations, with a notable peak of $194,999 in 2020, followed by $135,303 in 2022, and a more recent dip to $42,448 in 2023. The latest reported revenue is $207,970, suggesting a rebound.

Filing History

IRS 990 filing history for Omega Charities Inc showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Omega Charities Inc's revenue has grown by 2022.4%, moving from $2K to $42K. Total assets increased by 12212.2% over the same period, from $2K to $268K. Total functional expenses rose by 403.1%, from $6K to $32K. In its most recent filing year (2023), Omega Charities Inc reported a surplus of $10K, with revenue exceeding expenses.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$42K	$32K	$268K	$0	—	—
2022	$135K	$33K	$221K	$0	—	View 990
2021	$122K	$100K	$118K	$0	—	View 990
2020	$195K	$129K	$91K	$0	—	View 990
2019	$14K	$8K	$28K	$0	—	View 990
2018	$40K	$35K	$22K	$0	—	View 990
2017	$29K	$15K	$18K	$0	—	View 990
2016	$25K	$23K	$4K	$0	—	View 990
2015	$4K	$5K	$2K	$0	—	View 990
2014	$5K	$4K	$2K	$0	—	View 990
2013	$4K	$5K	$4K	$0	—	View 990
2012	$4K	$4K	$5K	$0	—	View 990
2011	$2K	$6K	$2K	$0	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $42K, expenses of $32K, and assets of $268K (revenue -68.6% year-over-year).
2022: Revenue of $135K, expenses of $33K, and assets of $221K (revenue +11.0% year-over-year).
2021: Revenue of $122K, expenses of $100K, and assets of $118K (revenue -37.5% year-over-year).
2020: Revenue of $195K, expenses of $129K, and assets of $91K (revenue +1279.8% year-over-year).
2019: Revenue of $14K, expenses of $8K, and assets of $28K (revenue -64.3% year-over-year).
2018: Revenue of $40K, expenses of $35K, and assets of $22K (revenue +35.8% year-over-year).
2017: Revenue of $29K, expenses of $15K, and assets of $18K (revenue +18.1% year-over-year).
2016: Revenue of $25K, expenses of $23K, and assets of $4K (revenue +529.5% year-over-year).
2015: Revenue of $4K, expenses of $5K, and assets of $2K (revenue -19.2% year-over-year).
2014: Revenue of $5K, expenses of $4K, and assets of $2K (revenue +27.3% year-over-year).
2013: Revenue of $4K, expenses of $5K, and assets of $4K (revenue -10.5% year-over-year).
2012: Revenue of $4K, expenses of $4K, and assets of $5K (revenue +113.1% year-over-year).
2011: Revenue of $2K, expenses of $6K, and assets of $2K.

Data Sources and Methodology

This transparency report for Omega Charities 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.