Pearl Transit

Is Pearl Transit Legit?

Some Concerns

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

Pearl Transit directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.

About Pearl Transit

Pearl Transit (EIN: 202022387) is a nonprofit organization based in Marlton, NJ, classified under NTEE code J02. The organization reported total revenue of $6.4M and total assets of $17.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Pearl Transit'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 Pearl Transit with a Mission Score of 95 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: 5%
• programs: 90%
• fundraising: 5%

According to IRS 990 filings, Pearl Transit allocates its expenses as follows: admin: 5%, programs: 90%, fundraising: 5%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

Pearl Transit consistently reports 0% officer compensation across all 11 filings, indicating that executive leadership is either entirely volunteer-based or compensated through non-officer roles, which is highly unusual for an organization with over $6 million in annual revenue and $17 million in assets.

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 Pearl Transit's IRS 990 filings:

• Unusually low expense-to-revenue ratio, potentially indicating significant accumulation of assets rather than immediate program spending (e.g., 2023 expenses were $3.2M on $6.4M revenue)
• No reported officer compensation for an organization of this size and revenue, which could indicate compensation is reported in other categories or a fully volunteer executive team, warranting further investigation for transparency.

Strengths

The following positive indicators were identified for Pearl Transit:

• Consistent and substantial revenue growth, from $449,748 in 2012 to $6,435,936 in 2023.
• Exceptional asset growth, from $0 in 2012 to $17,828,815 in 2023, indicating strong financial management and long-term stability.
• Very low liabilities relative to assets, with liabilities of $464,612 against assets of $17,828,815 in 2023.
• Zero reported officer compensation across all 11 filings, suggesting highly efficient use of funds and potentially volunteer leadership.
• Consistent generation of significant surpluses, allowing for robust reinvestment and asset building.

Frequently Asked Questions about Pearl Transit

Filing History

IRS 990 filing history for Pearl Transit showing financial trends over 11 years of public records:

Over 11 years of IRS 990 filings (2011–2023), Pearl Transit's revenue has grown by 1960.5%, moving from $312K to $6.4M. Total functional expenses rose by 931.5%, from $312K to $3.2M. In its most recent filing year (2023), Pearl Transit reported a surplus of $3.2M, with revenue exceeding expenses. The organization holds $465K in liabilities against $17.8M in assets (debt-to-asset ratio: 2.6%), resulting in net assets of $17.4M.

Year-by-Year Financial Summary

• 2023: Revenue of $6.4M, expenses of $3.2M, and assets of $17.8M (revenue +1.5% year-over-year).
• 2022: Revenue of $6.3M, expenses of $2.9M, and assets of $14.6M (revenue +26.0% year-over-year).
• 2021: Revenue of $5.0M, expenses of $2.2M, and assets of $11.4M (revenue +19.3% year-over-year).
• 2020: Revenue of $4.2M, expenses of $1.8M, and assets of $8.5M (revenue +7.9% year-over-year).
• 2019: Revenue of $3.9M, expenses of $1.8M, and assets of $6.2M (revenue +8.7% year-over-year).
• 2018: Revenue of $3.6M, expenses of $1.8M, and assets of $4.1M (revenue +23.8% year-over-year).
• 2017: Revenue of $2.9M, expenses of $1.7M, and assets of $2.3M (revenue +47.5% year-over-year).
• 2016: Revenue of $2.0M, expenses of $1.7M, and assets of $981K (revenue +309.2% year-over-year).
• 2013: Revenue of $481K, expenses of $481K, and assets of $1 (revenue +7.0% year-over-year).
• 2012: Revenue of $450K, expenses of $450K, and assets of $0 (revenue +44.0% year-over-year).
• 2011: Revenue of $312K, expenses of $312K, and assets of $0.

Data Sources and Methodology

This transparency report for Pearl Transit 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.