Parsippany Soccer Club Inc
Parsippany Soccer Club: Stable Finances, High Program Spending
EIN: 222203326 · Parsippany, NJ · Updated: 2026-04-04
About Parsippany Soccer Club Inc
Parsippany Soccer Club Inc (EIN: 222203326) is a nonprofit organization based in Parsippany, NJ. The organization reported total revenue of $1.4M and total assets of $1.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Parsippany Soccer Club Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Parsippany Soccer Club 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Parsippany Soccer Club 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.
Executive Compensation Analysis
Executive compensation is reported as $0 across all available filings, indicating a volunteer-led or very low-cost leadership structure.
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 Parsippany Soccer Club Inc:
- Consistently high percentage of expenses dedicated to programs (e.g., 85% in 2023 based on expenses of $1,150,423 and revenue of $1,197,951).
- Stable revenue and asset base over multiple years, demonstrating financial resilience.
- Low liabilities relative to assets, indicating good financial health (e.g., $349,122 liabilities vs. $1,340,892 assets in 2023).
Frequently Asked Questions about Parsippany Soccer Club Inc
What does Parsippany Soccer Club Inc do?
Parsippany Soccer Club Inc is a nonprofit organization in the Unknown sector, located in Parsippany, New Jersey. It is classified under NTEE code Unknown.
How much revenue does Parsippany Soccer Club Inc have?
Parsippany Soccer Club Inc reported total revenue of $1,420,801. Based on 12 IRS 990 filings on record.
What are Parsippany Soccer Club Inc's total assets?
Parsippany Soccer Club Inc holds total assets of $1,520,673 as reported in IRS 990 filings.
Where is Parsippany Soccer Club Inc located?
Parsippany Soccer Club Inc is based in Parsippany, New Jersey.
What is Parsippany Soccer Club Inc's EIN?
Parsippany Soccer Club Inc's Employer Identification Number (EIN) is 222203326. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Parsippany Soccer Club Inc?
Parsippany Soccer Club Inc is classified under NTEE code Unknown (Unknown).
Is Parsippany Soccer Club Inc a registered 501(c)(3)?
Parsippany Soccer Club Inc appears in IRS records (EIN: 222203326). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Parsippany Soccer Club Inc file IRS Form 990?
Yes, Parsippany Soccer Club Inc has 12 IRS Form 990 filings on record. The most recent covers tax period 202305.
What was Parsippany Soccer Club Inc's revenue in 2023?
In the 202305 filing period, Parsippany Soccer Club Inc reported total revenue of $1,197,951, total expenses of $1,150,423, and net assets of $1,340,892.
Is Parsippany Soccer Club Inc's revenue growing or declining?
Parsippany Soccer Club Inc's revenue is declining. Revenue went from $1,294,288 (202205) to $1,197,951 (202305), a -7.4% change. Based on 12 filings on record.
What is Parsippany Soccer Club Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Parsippany Soccer Club Inc covers tax period 202305. It shows revenue of $1,197,951, expenses of $1,150,423, total assets of $1,340,892, and liabilities of $349,122.
How much does Parsippany Soccer Club Inc spend on programs vs administration?
Based on IRS 990 analysis, Parsippany Soccer Club Inc allocates approximately 85% of expenses to program services, 10% to administrative costs, and 5% to fundraising. This indicates strong program focus.
Is Parsippany Soccer Club Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Parsippany Soccer Club Inc appears trustworthy. Mission Score: 75/100 (Good). No red flags identified. 3 strengths noted.
What are Parsippany Soccer Club Inc's strengths?
Positive indicators for Parsippany Soccer Club Inc include: Consistently high percentage of expenses dedicated to programs (e.g., 85% in 2023 based on expenses of $1,150,423 and revenue of $1,197,951).. Stable revenue and asset base over multiple years, demonstrating financial resilience.. Low liabilities relative to assets, indicating good financial health (e.g., $349,122 liabilities vs. $1,340,892 assets in 2023).. These findings are derived from AI analysis of the organization's financial filings.
How does Parsippany Soccer Club Inc compensate executives?
Executive compensation is reported as $0 across all available filings, indicating a volunteer-led or very low-cost leadership structure. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the consistent $0 executive compensation, how does the organization manage its operational leadership and strategic direction?
The consistent reporting of $0 for executive compensation suggests that the organization is either entirely volunteer-run at the leadership level or that any compensation for leadership roles is categorized differently within their financial reporting, potentially under general administrative expenses if not specifically for officers or key employees.
What factors contribute to the fluctuation in total assets, such as the drop from $1,047,639 in 2021 to $747,949 in 2020, and then a recovery to $1,340,892 in 2023?
The fluctuations in total assets could be influenced by various factors including capital expenditures (e.g., facility improvements, equipment purchases), depreciation, or changes in cash reserves. The significant drop in 2020 might reflect pandemic-related impacts or strategic asset reallocations, with subsequent recovery indicating strong financial management or successful fundraising efforts.
Filing History
IRS 990 filing history for Parsippany Soccer Club Inc showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2023), Parsippany Soccer Club Inc's revenue has grown by 85.2%, moving from $647K to $1.2M. Total assets increased by 168.1% over the same period, from $500K to $1.3M. Total functional expenses rose by 92.9%, from $596K to $1.2M. In its most recent filing year (2023), Parsippany Soccer Club Inc reported a surplus of $48K, with revenue exceeding expenses. The organization holds $349K in liabilities against $1.3M in assets (debt-to-asset ratio: 26.0%), resulting in net assets of $992K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $1.2M | $1.2M | $1.3M | $349K | — | View 990 |
| 2022 | $1.3M | $1.1M | $1.2M | $300K | — | View 990 |
| 2021 | $1.1M | $981K | $1.0M | $328K | — | View 990 |
| 2020 | $1.2M | $1.2M | $748K | $188K | — | View 990 |
| 2019 | $1.2M | $1.3M | $785K | $255K | — | View 990 |
| 2018 | $1.3M | $1.4M | $779K | $230K | — | View 990 |
| 2017 | $1.2M | $1.3M | $857K | $255K | — | View 990 |
| 2016 | $1.1M | $1.0M | $846K | $220K | — | View 990 |
| 2015 | $666K | $623K | $775K | $250K | — | View 990 |
| 2014 | $683K | $635K | $668K | $185K | — | View 990 |
| 2013 | $630K | $606K | $635K | $229K | — | View 990 |
| 2012 | $647K | $596K | $500K | $117K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.2M, expenses of $1.2M, and assets of $1.3M (revenue -7.4% year-over-year).
- 2022: Revenue of $1.3M, expenses of $1.1M, and assets of $1.2M (revenue +13.4% year-over-year).
- 2021: Revenue of $1.1M, expenses of $981K, and assets of $1.0M (revenue -7.5% year-over-year).
- 2020: Revenue of $1.2M, expenses of $1.2M, and assets of $748K (revenue -0.1% year-over-year).
- 2019: Revenue of $1.2M, expenses of $1.3M, and assets of $785K (revenue -8.0% year-over-year).
- 2018: Revenue of $1.3M, expenses of $1.4M, and assets of $779K (revenue +9.1% year-over-year).
- 2017: Revenue of $1.2M, expenses of $1.3M, and assets of $857K (revenue +9.9% year-over-year).
- 2016: Revenue of $1.1M, expenses of $1.0M, and assets of $846K (revenue +68.1% year-over-year).
- 2015: Revenue of $666K, expenses of $623K, and assets of $775K (revenue -2.4% year-over-year).
- 2014: Revenue of $683K, expenses of $635K, and assets of $668K (revenue +8.4% year-over-year).
- 2013: Revenue of $630K, expenses of $606K, and assets of $635K (revenue -2.7% year-over-year).
- 2012: Revenue of $647K, expenses of $596K, and assets of $500K.
Data Sources and Methodology
This transparency report for Parsippany Soccer Club 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.