Phillip Richards Ministries Inc
Small West Virginia ministry consistently reports zero officer compensation but has seen a significant decline in assets.
EIN: 201499561 · Buckhannon, WV · NTEE: X20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $20K |
| Total Expenses | $17K |
| Program Spending | 80% |
| Net Assets | $6K |
| Transparency Score | 75/100 |
Is Phillip Richards Ministries Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Phillip Richards Ministries Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Phillip Richards Ministries Inc
Phillip Richards Ministries Inc (EIN: 201499561) is a nonprofit organization based in Buckhannon, WV, classified under NTEE code X20. The organization reported total revenue of $20K and total assets of $9K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Phillip Richards Ministries Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Phillip Richards Ministries Inc is a micro nonprofit that has been operating for 21 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 0.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $22K |
| Total Expenses | $17K |
| Surplus / Deficit | +$6K |
| Total Assets | $6K |
| Net Assets | $6K |
| Operating Margin | 25.1% |
| Months of Reserves | 4.0 months |
Financial Health Grade: A
In 2023, Phillip Richards Ministries Inc reported a surplus of $6K with revenue exceeding expenses, holds 4.0 months of operating reserves (adequate).
Financial Trends
Over 13 years of filings (2011–2023), Phillip Richards Ministries Inc's revenue has grown at a compound annual growth rate (CAGR) of 0.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -14.3% | -4.3% | -34.7% |
| 2022 | +10.8% | -30.0% | -56.7% |
| 2021 | -22.6% | +10.0% | -55.2% |
| 2020 | +9.6% | -20.9% | +21.0% |
| 2019 | -4.6% | +36.9% | -2.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 7000 |
| IRS Ruling Date | 2005 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Phillip Richards Ministries 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Phillip Richards Ministries Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $6K, with revenue exceeding expenses.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% of expenses across all filings, indicating that no salaries are paid to officers, which is highly unusual for any organization, regardless of size, and suggests a volunteer-led 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.
Red Flags
The following concerns were identified during AI analysis of Phillip Richards Ministries Inc's IRS 990 filings:
- Significant decline in assets from $44,516 in 2020 to $5,640 in 2023 without clear explanation in summary data.
- Lack of detailed expense breakdown (program, admin, fundraising) in the provided summary data makes a precise efficiency assessment challenging.
Strengths
The following positive indicators were identified for Phillip Richards Ministries Inc:
- Consistent reporting of zero officer compensation, indicating a volunteer-led model and efficient use of donor funds for mission.
- Consistently low or zero liabilities across all reported periods, suggesting sound financial management and no reliance on debt.
- Expenses generally kept below revenue in recent years (e.g., 202312: Revenue $22,496, Expenses $16,856), indicating financial sustainability.
Frequently Asked Questions about Phillip Richards Ministries Inc
Is Phillip Richards Ministries Inc a legitimate charity?
Phillip Richards Ministries Inc (EIN: 201499561) is a registered tax-exempt nonprofit based in West Virginia. Our AI analysis gives it a Mission Score of 75/100. It has 13 years of IRS 990 filings on record. Total revenue: $20K. 2 red flags identified. 3 strengths noted. Financial health grade: A.
How does Phillip Richards Ministries Inc spend its money?
Phillip Richards Ministries Inc directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Phillip Richards Ministries Inc tax-deductible?
Phillip Richards Ministries Inc is registered as a tax-exempt nonprofit (EIN: 201499561). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Phillip Richards Ministries Inc's spending goes to programs?
Phillip Richards Ministries Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Phillip Richards Ministries Inc compare to similar nonprofits?
With a transparency score of 75/100 (Good), Phillip Richards Ministries Inc is above average for NTEE category X20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Phillip Richards Ministries Inc located?
Phillip Richards Ministries Inc is headquartered in Buckhannon, West Virginia and files with the IRS under EIN 201499561. It is classified under NTEE code X20.
How many years of IRS 990 filings does Phillip Richards Ministries Inc have?
Phillip Richards Ministries Inc has 13 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 $20K in total revenue.
Why have the organization's assets decreased significantly from $44,516 in 2020 to $5,640 in 2023?
The provided data shows a substantial decline in assets over the last three years, from a peak of $44,516 in 202012 to $5,640 in 202312. This trend requires further investigation into the organization's financial statements to understand if it's due to increased program spending, asset liquidation, or other factors.
How does Phillip Richards Ministries Inc. manage to operate with 0% officer compensation?
The consistent reporting of 0% officer compensation suggests that the organization is entirely volunteer-run at the executive level. This is a notable characteristic for a nonprofit, indicating a high level of dedication from its leadership.
What are the specific program activities funded by Phillip Richards Ministries Inc.?
The NTEE code X20 (Religion-Related, Spiritual Development) indicates a focus on religious or spiritual activities. However, the provided financial data does not detail specific program activities or their associated costs, which would require reviewing the full IRS Form 990.
Filing History
IRS 990 filing history for Phillip Richards Ministries Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Phillip Richards Ministries Inc's revenue has grown by 3.6%, moving from $22K to $22K. Total assets decreased by 57.5% over the same period, from $13K to $6K. Total functional expenses fell by 28.5%, from $24K to $17K. In its most recent filing year (2023), Phillip Richards Ministries Inc reported a surplus of $6K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $22K | $17K | $6K | $0 | — | View 990 |
| 2022 | $26K | $18K | $9K | $0 | — | View 990 |
| 2021 | $24K | $25K | $20K | $0 | — | — |
| 2020 | $31K | $23K | $45K | $0 | — | View 990 |
| 2019 | $28K | $29K | $37K | $0 | — | View 990 |
| 2018 | $29K | $21K | $38K | $0 | — | View 990 |
| 2017 | $29K | $22K | $30K | $0 | — | View 990 |
| 2016 | $25K | $21K | $26K | $0 | — | View 990 |
| 2015 | $27K | $21K | $23K | $0 | — | View 990 |
| 2014 | $26K | $20K | $17K | $0 | — | View 990 |
| 2013 | $24K | $21K | $11K | $0 | — | View 990 |
| 2012 | $23K | $29K | $8K | $0 | — | View 990 |
| 2011 | $22K | $24K | $13K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $22K, expenses of $17K, and assets of $6K (revenue -14.3% year-over-year).
- 2022: Revenue of $26K, expenses of $18K, and assets of $9K (revenue +10.8% year-over-year).
- 2021: Revenue of $24K, expenses of $25K, and assets of $20K (revenue -22.6% year-over-year).
- 2020: Revenue of $31K, expenses of $23K, and assets of $45K (revenue +9.6% year-over-year).
- 2019: Revenue of $28K, expenses of $29K, and assets of $37K (revenue -4.6% year-over-year).
- 2018: Revenue of $29K, expenses of $21K, and assets of $38K (revenue +1.7% year-over-year).
- 2017: Revenue of $29K, expenses of $22K, and assets of $30K (revenue +15.6% year-over-year).
- 2016: Revenue of $25K, expenses of $21K, and assets of $26K (revenue -7.8% year-over-year).
- 2015: Revenue of $27K, expenses of $21K, and assets of $23K (revenue +5.0% year-over-year).
- 2014: Revenue of $26K, expenses of $20K, and assets of $17K (revenue +8.4% year-over-year).
- 2013: Revenue of $24K, expenses of $21K, and assets of $11K (revenue +1.8% year-over-year).
- 2012: Revenue of $23K, expenses of $29K, and assets of $8K (revenue +7.5% year-over-year).
- 2011: Revenue of $22K, expenses of $24K, and assets of $13K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Phillip Richards Ministries Inc:
Data Sources and Methodology
This transparency report for Phillip Richards Ministries 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.