Patriot Charities

Is Patriot Charities Legit?

Significant Concerns

Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →

Patriot Charities directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.

About Patriot Charities

Patriot Charities (EIN: 203922374) is a nonprofit organization based in Mooresville, NC. The organization reported total revenue of $0 and total assets of $0 according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Patriot Charities's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

Organization Overview

Patriot Charities is a small nonprofit, with 6 years of IRS 990 filings on record (2010–2015). Revenue has grown at a compound annual rate of 13.8%.

Key Financial Metrics (2015)

From the most recent IRS 990 filing on record:

Financial Health Grade: C

In 2015, Patriot Charities reported a deficit of $38K with expenses exceeding revenue, holds 1.3 months of operating reserves (limited), has a debt-to-asset ratio of 6.0% (very low leverage).

Financial Trends

Over 6 years of filings (2010–2015), Patriot Charities's revenue has grown at a compound annual growth rate (CAGR) of 13.8%.

AI Transparency Report

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Patriot Charities with a Mission Score of 30 out of 100 (Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.

Spending Breakdown

• admin: 20%
• programs: 70%
• fundraising: 10%

According to IRS 990 filings, Patriot Charities allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.

Key Financial Metrics (2015)

From the most recent IRS 990 filing on record:

• The organization reported a deficit of $38K, with expenses exceeding revenue.
• Debt-to-asset ratio: 6.0%.

Executive Compensation Analysis

Executive compensation has consistently been reported as 0% across all available filings, which is commendable and suggests that leadership is not drawing a salary from the organization's funds.

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 Patriot Charities's IRS 990 filings:

• Latest filing shows $0 revenue and $0 assets, indicating potential dormancy or cessation of operations.
• History of expenses exceeding revenue in multiple periods (e.g., 2015, 2013, 2011, 2010), leading to net losses.
• Negative asset balance reported in 2013 ($-19,514), a severe indicator of financial distress.
• Fluctuating financial performance without clear growth or stability over time.

Strengths

The following positive indicators were identified for Patriot Charities:

• Consistent reporting of 0% officer compensation, indicating no executive salaries were paid from organizational funds.

Frequently Asked Questions about Patriot Charities

Filing History

IRS 990 filing history for Patriot Charities showing financial trends over 6 years of public records:

Over 6 years of IRS 990 filings (2010–2015), Patriot Charities's revenue has grown by 90.5%, moving from $126K to $239K. Total assets decreased by 26.8% over the same period, from $41K to $30K. Total functional expenses rose by 101.5%, from $138K to $277K. In its most recent filing year (2015), Patriot Charities reported a deficit of $38K, with expenses exceeding revenue. The organization holds $2K in liabilities against $30K in assets (debt-to-asset ratio: 6.0%), resulting in net assets of $28K.

Year-by-Year Financial Summary

• 2015: Revenue of $239K, expenses of $277K, and assets of $30K (revenue -29.7% year-over-year).
• 2014: Revenue of $340K, expenses of $248K, and assets of $67K (revenue +23.6% year-over-year).
• 2013: Revenue of $275K, expenses of $368K, and assets of $-19,514 (revenue -7.8% year-over-year).
• 2012: Revenue of $299K, expenses of $266K, and assets of $71K (revenue +21.5% year-over-year).
• 2011: Revenue of $246K, expenses of $253K, and assets of $33K (revenue +95.7% year-over-year).
• 2010: Revenue of $126K, expenses of $138K, and assets of $41K.

View Individual Filing Years

Explore detailed financial data from each IRS 990 filing year for Patriot Charities:

Data Sources and Methodology

This transparency report for Patriot Charities 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.