Place
Place shows highly volatile financial performance with significant operating deficits in recent years and fluctuating asset values.
EIN: 204361698 · Minneapolis, MN · NTEE: L20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.5M |
| Total Expenses | $7.6M |
| Program Spending | 70% |
| Net Assets | $2.8M |
| Transparency Score | 65/100 |
Is Place Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Place directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Place
Place (EIN: 204361698) is a nonprofit organization based in Minneapolis, MN, classified under NTEE code L20. The organization reported total revenue of $1.5M and total assets of $13.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Place's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Place is a mid-size nonprofit that has been operating for 19 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 11.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.9M |
| Total Expenses | $7.6M |
| Surplus / Deficit | $-4,617,278 |
| Total Assets | $14.8M |
| Total Liabilities | $12.0M |
| Net Assets | $2.8M |
| Operating Margin | -157.2% |
| Debt-to-Asset Ratio | 80.9% |
| Months of Reserves | 23.5 months |
Financial Health Grade: C
In 2023, Place reported a deficit of $4.6M with expenses exceeding revenue, holds 23.5 months of operating reserves (strong position), has a debt-to-asset ratio of 80.9% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Place's revenue has grown at a compound annual growth rate (CAGR) of 11.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +227.7% | +1717.3% | -83.2% |
| 2022 | +11.8% | -4.8% | +635.2% |
| 2021 | -27.1% | -28.6% | +13.2% |
| 2020 | +26.1% | -74.5% | +9.3% |
| 2019 | -68.5% | +319.6% | +3.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2007 |
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 Place with a Mission Score of 65 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: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Place allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $4.6M, with expenses exceeding revenue.
- Debt-to-asset ratio: 80.9%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, suggesting either unpaid officers or that compensation is categorized differently, which enhances transparency regarding direct officer salaries.
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 Place's IRS 990 filings:
- Significant operating deficit in 2023 ($4,617,278, as expenses exceeded revenue)
- Highly volatile financial performance with large swings in revenue, expenses, assets, and liabilities year-over-year
- Substantial and fluctuating liabilities, peaking at $83,498,733 in 2022
- Lack of detailed program spending breakdown in the provided summary data, making efficiency assessment difficult
Strengths
The following positive indicators were identified for Place:
- Consistent reporting of 0% officer compensation, indicating transparency in executive pay disclosure
- Long filing history (13 filings), suggesting consistent compliance with IRS reporting requirements
- Significant asset base ($14,803,036 in 2023) despite recent fluctuations
Frequently Asked Questions about Place
Is Place a legitimate charity?
Based on AI analysis of IRS 990 filings, Place (EIN: 204361698) some concerns. Mission Score: 65/100. 4 red flags identified, 3 strengths noted.
How does Place spend its money?
Place directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Place tax-deductible?
Place is registered as a tax-exempt nonprofit (EIN: 204361698). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Place's spending goes to programs?
Place directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
How does Place compare to similar nonprofits?
With a transparency score of 65/100 (Good), Place is above average for NTEE category L20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Place located?
Place is headquartered in Minneapolis, Minnesota and files with the IRS under EIN 204361698. It is classified under NTEE code L20.
How many years of IRS 990 filings does Place have?
Place 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 $1.5M in total revenue.
What caused the massive increase in assets and liabilities in 2022, and their subsequent decrease in 2023?
In 2022, Place reported assets of $88,063,174 and liabilities of $83,498,733, which then dropped to $14,803,036 in assets and $11,972,865 in liabilities in 2023. This significant fluctuation warrants investigation into potential large-scale capital projects, debt financing, or asset transfers.
Why did expenses ($7,553,724) significantly exceed revenue ($2,936,446) in 2023?
The 2023 filing shows an operating deficit of over $4.6 million. This could be due to one-time expenditures, investment losses, or an unsustainable spending model that needs to be addressed for long-term viability.
How does Place manage its substantial liabilities, which were $11,972,865 in 2023?
The organization consistently carries significant liabilities. Understanding the nature of these liabilities (e.g., mortgages, program-related investments, or other debt) is crucial for assessing financial risk and stability.
Filing History
IRS 990 filing history for Place showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Place's revenue has grown by 276.8%, moving from $779K to $2.9M. Total assets increased by 280.2% over the same period, from $3.9M to $14.8M. Total functional expenses rose by 1791.8%, from $399K to $7.6M. In its most recent filing year (2023), Place reported a deficit of $4.6M, with expenses exceeding revenue. The organization holds $12.0M in liabilities against $14.8M in assets (debt-to-asset ratio: 80.9%), resulting in net assets of $2.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.9M | $7.6M | $14.8M | $12.0M | — | — |
| 2022 | $896K | $416K | $88.1M | $83.5M | — | View 990 |
| 2021 | $801K | $437K | $12.0M | $7.3M | — | View 990 |
| 2020 | $1.1M | $611K | $10.6M | $6.3M | — | View 990 |
| 2019 | $871K | $2.4M | $9.7M | $5.9M | — | View 990 |
| 2018 | $2.8M | $572K | $9.3M | $4.0M | — | View 990 |
| 2017 | $963K | $631K | $6.3M | $3.2M | — | View 990 |
| 2016 | $737K | $469K | $5.8M | $2.9M | — | View 990 |
| 2015 | $1.0M | $249K | $5.4M | $2.8M | — | View 990 |
| 2014 | $349K | $255K | $4.6M | $2.7M | — | View 990 |
| 2013 | $414K | $298K | $4.3M | $2.5M | — | View 990 |
| 2012 | $253K | $292K | $4.0M | $2.3M | — | View 990 |
| 2011 | $779K | $399K | $3.9M | $2.2M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.9M, expenses of $7.6M, and assets of $14.8M (revenue +227.7% year-over-year).
- 2022: Revenue of $896K, expenses of $416K, and assets of $88.1M (revenue +11.8% year-over-year).
- 2021: Revenue of $801K, expenses of $437K, and assets of $12.0M (revenue -27.1% year-over-year).
- 2020: Revenue of $1.1M, expenses of $611K, and assets of $10.6M (revenue +26.1% year-over-year).
- 2019: Revenue of $871K, expenses of $2.4M, and assets of $9.7M (revenue -68.5% year-over-year).
- 2018: Revenue of $2.8M, expenses of $572K, and assets of $9.3M (revenue +187.4% year-over-year).
- 2017: Revenue of $963K, expenses of $631K, and assets of $6.3M (revenue +30.7% year-over-year).
- 2016: Revenue of $737K, expenses of $469K, and assets of $5.8M (revenue -26.6% year-over-year).
- 2015: Revenue of $1.0M, expenses of $249K, and assets of $5.4M (revenue +187.4% year-over-year).
- 2014: Revenue of $349K, expenses of $255K, and assets of $4.6M (revenue -15.6% year-over-year).
- 2013: Revenue of $414K, expenses of $298K, and assets of $4.3M (revenue +63.9% year-over-year).
- 2012: Revenue of $253K, expenses of $292K, and assets of $4.0M (revenue -67.6% year-over-year).
- 2011: Revenue of $779K, expenses of $399K, and assets of $3.9M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Place:
Data Sources and Methodology
This transparency report for Place 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.