Power Tool Institute Inc
EIN: 237258534 · Cleveland, OH
| Metric | Value |
|---|---|
| Total Revenue | $1.1M |
| Total Expenses | $1.1M |
| Net Assets | $174K |
Is Power Tool Institute Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Power Tool Institute Inc
Power Tool Institute Inc (EIN: 237258534) is a nonprofit organization based in Cleveland, OH. The organization reported total revenue of $1.1M and total assets of $476K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Power Tool Institute Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Power Tool Institute Inc is a mid-size nonprofit that has been operating for 53 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 1.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $991K |
| Total Expenses | $1.1M |
| Surplus / Deficit | $-93,067 |
| Total Assets | $433K |
| Total Liabilities | $259K |
| Net Assets | $174K |
| Operating Margin | -9.4% |
| Debt-to-Asset Ratio | 59.9% |
| Months of Reserves | 4.8 months |
Financial Health Grade: C
In 2023, Power Tool Institute Inc reported a deficit of $93K with expenses exceeding revenue, holds 4.8 months of operating reserves (adequate), has a debt-to-asset ratio of 59.9% (high leverage).
Financial Trends
Over 14 years of filings (2010–2023), Power Tool Institute Inc's revenue has grown at a compound annual growth rate (CAGR) of 1.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +18.9% | +34.5% | -24.1% |
| 2022 | -7.3% | -8.0% | -5.4% |
| 2021 | +1.4% | +9.4% | -16.3% |
| 2020 | -14.3% | -19.2% | +75.9% |
| 2019 | +6.6% | -4.4% | -10.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1973 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Power Tool Institute 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 Power Tool Institute 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 (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $93K, with expenses exceeding revenue.
- Debt-to-asset ratio: 59.9%.
Frequently Asked Questions about Power Tool Institute Inc
Is Power Tool Institute Inc a legitimate charity?
Power Tool Institute Inc (EIN: 237258534) is a registered tax-exempt nonprofit based in Ohio. It has 14 years of IRS 990 filings on record. Total revenue: $1.1M. No red flags identified. Financial health grade: C.
How does Power Tool Institute Inc spend its money?
Power Tool Institute Inc reported $1.1M in total revenue in IRS 990 filings. 14 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Power Tool Institute Inc tax-deductible?
Power Tool Institute Inc is registered as a tax-exempt nonprofit (EIN: 237258534). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Power Tool Institute Inc located?
Power Tool Institute Inc is headquartered in Cleveland, Ohio and files with the IRS under EIN 237258534.
How many years of IRS 990 filings does Power Tool Institute Inc have?
Power Tool Institute Inc has 14 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 $1.1M in total revenue.
Filing History
IRS 990 filing history for Power Tool Institute Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Power Tool Institute Inc's revenue has grown by 16.1%, moving from $854K to $991K. Total assets decreased by 3% over the same period, from $446K to $433K. Total functional expenses rose by 26.4%, from $857K to $1.1M. In its most recent filing year (2023), Power Tool Institute Inc reported a deficit of $93K, with expenses exceeding revenue. The organization holds $259K in liabilities against $433K in assets (debt-to-asset ratio: 59.9%), resulting in net assets of $174K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $991K | $1.1M | $433K | $259K | — | — |
| 2022 | $833K | $806K | $570K | $304K | — | View 990 |
| 2021 | $899K | $876K | $603K | $363K | — | View 990 |
| 2020 | $887K | $801K | $720K | $504K | — | View 990 |
| 2019 | $1.0M | $992K | $410K | $279K | — | — |
| 2018 | $971K | $1.0M | $457K | $370K | — | View 990 |
| 2017 | $973K | $957K | $502K | $348K | — | View 990 |
| 2016 | $945K | $937K | $627K | $491K | — | View 990 |
| 2015 | $773K | $767K | $576K | $447K | — | View 990 |
| 2014 | $727K | $695K | $538K | $415K | — | View 990 |
| 2013 | $645K | $681K | $517K | $426K | — | View 990 |
| 2012 | $927K | $960K | $315K | $188K | — | View 990 |
| 2011 | $1.2M | $1.1M | $552K | $392K | — | View 990 |
| 2010 | $854K | $857K | $446K | $348K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $991K, expenses of $1.1M, and assets of $433K (revenue +18.9% year-over-year).
- 2022: Revenue of $833K, expenses of $806K, and assets of $570K (revenue -7.3% year-over-year).
- 2021: Revenue of $899K, expenses of $876K, and assets of $603K (revenue +1.4% year-over-year).
- 2020: Revenue of $887K, expenses of $801K, and assets of $720K (revenue -14.3% year-over-year).
- 2019: Revenue of $1.0M, expenses of $992K, and assets of $410K (revenue +6.6% year-over-year).
- 2018: Revenue of $971K, expenses of $1.0M, and assets of $457K (revenue -0.2% year-over-year).
- 2017: Revenue of $973K, expenses of $957K, and assets of $502K (revenue +3.0% year-over-year).
- 2016: Revenue of $945K, expenses of $937K, and assets of $627K (revenue +22.4% year-over-year).
- 2015: Revenue of $773K, expenses of $767K, and assets of $576K (revenue +6.3% year-over-year).
- 2014: Revenue of $727K, expenses of $695K, and assets of $538K (revenue +12.6% year-over-year).
- 2013: Revenue of $645K, expenses of $681K, and assets of $517K (revenue -30.4% year-over-year).
- 2012: Revenue of $927K, expenses of $960K, and assets of $315K (revenue -20.8% year-over-year).
- 2011: Revenue of $1.2M, expenses of $1.1M, and assets of $552K (revenue +37.1% year-over-year).
- 2010: Revenue of $854K, expenses of $857K, and assets of $446K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Power Tool Institute Inc:
Data Sources and Methodology
This transparency report for Power Tool Institute 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.