Palacios Marine Agricultural Research Inc
EIN: 845079866 · Corpus Christi, TX · NTEE: U21
| Metric | Value |
|---|---|
| Total Revenue | $5.7M |
| Total Expenses | $2.8M |
| Net Assets | $3.9M |
Is Palacios Marine Agricultural Research Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Palacios Marine Agricultural Research Inc
Palacios Marine Agricultural Research Inc (EIN: 845079866) is a nonprofit organization based in Corpus Christi, TX, classified under NTEE code U21. The organization reported total revenue of $5.7M and total assets of $4.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Palacios Marine Agricultural Research Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Palacios Marine Agricultural Research Inc is a mid-size nonprofit that has been operating for 5 years, with 4 years of IRS 990 filings on record (2020–2023). Revenue has grown at a compound annual rate of 55.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.6M |
| Total Expenses | $2.8M |
| Surplus / Deficit | $-193,724 |
| Total Assets | $4.2M |
| Total Liabilities | $226K |
| Net Assets | $3.9M |
| Operating Margin | -7.3% |
| Debt-to-Asset Ratio | 5.4% |
| Months of Reserves | 17.6 months |
Financial Health Grade: B
In 2023, Palacios Marine Agricultural Research Inc reported a deficit of $194K with expenses exceeding revenue, holds 17.6 months of operating reserves (strong position), has a debt-to-asset ratio of 5.4% (very low leverage).
Financial Trends
Over 4 years of filings (2020–2023), Palacios Marine Agricultural Research Inc's revenue has grown at a compound annual growth rate (CAGR) of 55.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +6.3% | +105.8% | +3.5% |
| 2022 | -23.1% | +63.9% | +34.7% |
| 2021 | +358.1% | +666.9% | +387.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 8000 |
| IRS Ruling Date | 2021 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Palacios Marine Agricultural Research 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 Palacios Marine Agricultural Research 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 $194K, with expenses exceeding revenue.
- Debt-to-asset ratio: 5.4%.
Frequently Asked Questions about Palacios Marine Agricultural Research Inc
Is Palacios Marine Agricultural Research Inc a legitimate charity?
Palacios Marine Agricultural Research Inc (EIN: 845079866) is a registered tax-exempt nonprofit based in Texas. It has 4 years of IRS 990 filings on record. Total revenue: $5.7M. No red flags identified. Financial health grade: B.
How does Palacios Marine Agricultural Research Inc spend its money?
Palacios Marine Agricultural Research Inc reported $5.7M in total revenue in IRS 990 filings. 4 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Palacios Marine Agricultural Research Inc tax-deductible?
Palacios Marine Agricultural Research Inc is registered as a tax-exempt nonprofit (EIN: 845079866). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Palacios Marine Agricultural Research Inc located?
Palacios Marine Agricultural Research Inc is headquartered in Corpus Christi, Texas and files with the IRS under EIN 845079866. It is classified under NTEE code U21.
How many years of IRS 990 filings does Palacios Marine Agricultural Research Inc have?
Palacios Marine Agricultural Research Inc has 4 years of IRS 990 filings on record at NonprofitSpending. Additional filing years may become available as the IRS releases new data. The most recent filing shows $5.7M in total revenue.
Filing History
IRS 990 filing history for Palacios Marine Agricultural Research Inc showing financial trends over 4 years of public records:
Over 4 years of IRS 990 filings (2020–2023), Palacios Marine Agricultural Research Inc's revenue has grown by 274.4%, moving from $705K to $2.6M. Total assets increased by 579.2% over the same period, from $613K to $4.2M. Total functional expenses rose by 2485.6%, from $110K to $2.8M. In its most recent filing year (2023), Palacios Marine Agricultural Research Inc reported a deficit of $194K, with expenses exceeding revenue. The organization holds $226K in liabilities against $4.2M in assets (debt-to-asset ratio: 5.4%), resulting in net assets of $3.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.6M | $2.8M | $4.2M | $226K | — | View 990 |
| 2022 | $2.5M | $1.4M | $4.0M | $45K | — | View 990 |
| 2021 | $3.2M | $841K | $3.0M | $0 | — | — |
| 2020 | $705K | $110K | $613K | $17K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.6M, expenses of $2.8M, and assets of $4.2M (revenue +6.3% year-over-year).
- 2022: Revenue of $2.5M, expenses of $1.4M, and assets of $4.0M (revenue -23.1% year-over-year).
- 2021: Revenue of $3.2M, expenses of $841K, and assets of $3.0M (revenue +358.1% year-over-year).
- 2020: Revenue of $705K, expenses of $110K, and assets of $613K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Palacios Marine Agricultural Research Inc:
Data Sources and Methodology
This transparency report for Palacios Marine Agricultural Research 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.