Passageway Inc
EIN: 421388874 · Des Moines, IA
| Metric | Value |
|---|---|
| Total Revenue | $313K |
| Total Expenses | $299K |
| Net Assets | $14K |
Is Passageway Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Passageway Inc
Passageway Inc (EIN: 421388874) is a nonprofit organization based in Des Moines, IA. The organization reported total revenue of $313K and total assets of $47K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Passageway Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Passageway Inc is a small nonprofit that has been operating for 33 years, with 9 years of IRS 990 filings on record (2012–2020). Revenue has grown at a compound annual rate of -2.4%.
Key Financial Metrics (2020)
From the most recent IRS 990 filing on record:
| Total Revenue | $300K |
| Total Expenses | $299K |
| Surplus / Deficit | +$945 |
| Total Assets | $47K |
| Total Liabilities | $33K |
| Net Assets | $14K |
| Operating Margin | 0.3% |
| Debt-to-Asset Ratio | 69.7% |
| Months of Reserves | 1.9 months |
Financial Health Grade: B
In 2020, Passageway Inc reported a surplus of $945 with revenue exceeding expenses, holds 1.9 months of operating reserves (limited), has a debt-to-asset ratio of 69.7% (high leverage).
Financial Trends
Over 9 years of filings (2012–2020), Passageway Inc's revenue has declined at a compound annual growth rate (CAGR) of -2.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2020 | -3.2% | -20.8% | +67.4% |
| 2019 | -13.0% | -13.1% | -73.5% |
| 2018 | -19.7% | -5.1% | -49.8% |
| 2017 | -12.5% | -3.1% | -11.1% |
| 2016 | +5.7% | +15.8% | +71.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1993 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Passageway 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 Passageway 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 (2020)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $945, with revenue exceeding expenses.
- Debt-to-asset ratio: 69.7%.
Frequently Asked Questions about Passageway Inc
Is Passageway Inc a legitimate charity?
Passageway Inc (EIN: 421388874) is a registered tax-exempt nonprofit based in Iowa. It has 9 years of IRS 990 filings on record. Total revenue: $313K. No red flags identified. Financial health grade: B.
How does Passageway Inc spend its money?
Passageway Inc reported $313K in total revenue in IRS 990 filings. 9 years of filing data available. Revenue exceeded expenses in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Passageway Inc tax-deductible?
Passageway Inc is registered as a tax-exempt nonprofit (EIN: 421388874). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Passageway Inc located?
Passageway Inc is headquartered in Des Moines, Iowa and files with the IRS under EIN 421388874.
How many years of IRS 990 filings does Passageway Inc have?
Passageway Inc has 9 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 $313K in total revenue.
Filing History
IRS 990 filing history for Passageway Inc showing financial trends over 9 years of public records:
Over 9 years of IRS 990 filings (2012–2020), Passageway Inc's revenue has declined by 17.4%, moving from $363K to $300K. Total assets increased by 1197.5% over the same period, from $4K to $47K. Total functional expenses fell by 18.3%, from $365K to $299K. In its most recent filing year (2020), Passageway Inc reported a surplus of $945, with revenue exceeding expenses. The organization holds $33K in liabilities against $47K in assets (debt-to-asset ratio: 69.7%), resulting in net assets of $14K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2020 | $300K | $299K | $47K | $33K | — | View 990 |
| 2019 | $310K | $377K | $28K | $15K | — | View 990 |
| 2018 | $356K | $434K | $105K | $25K | — | — |
| 2017 | $443K | $457K | $210K | $51K | — | View 990 |
| 2016 | $507K | $472K | $236K | $63K | — | View 990 |
| 2015 | $480K | $407K | $138K | $545 | — | View 990 |
| 2014 | $455K | $350K | $76K | $11K | — | View 990 |
| 2013 | $339K | $373K | $472 | $41K | — | View 990 |
| 2012 | $363K | $365K | $4K | $10K | — | View 990 |
Year-by-Year Financial Summary
- 2020: Revenue of $300K, expenses of $299K, and assets of $47K (revenue -3.2% year-over-year).
- 2019: Revenue of $310K, expenses of $377K, and assets of $28K (revenue -13.0% year-over-year).
- 2018: Revenue of $356K, expenses of $434K, and assets of $105K (revenue -19.7% year-over-year).
- 2017: Revenue of $443K, expenses of $457K, and assets of $210K (revenue -12.5% year-over-year).
- 2016: Revenue of $507K, expenses of $472K, and assets of $236K (revenue +5.7% year-over-year).
- 2015: Revenue of $480K, expenses of $407K, and assets of $138K (revenue +5.3% year-over-year).
- 2014: Revenue of $455K, expenses of $350K, and assets of $76K (revenue +34.3% year-over-year).
- 2013: Revenue of $339K, expenses of $373K, and assets of $472 (revenue -6.6% year-over-year).
- 2012: Revenue of $363K, expenses of $365K, and assets of $4K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Passageway Inc:
Data Sources and Methodology
This transparency report for Passageway 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.