Providence Community Opportunity Corporation
Providence Community Opportunity Corporation: Declining Revenue and High Administrative Costs Raise Concerns
EIN: 222988003 · Providence, RI · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Expenses | $49K |
| Net Assets | $49K |
| Transparency Score | 45/100 |
Is Providence Community Opportunity Corporation Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Providence Community Opportunity Corporation
Providence Community Opportunity Corporation (EIN: 222988003) is a nonprofit organization based in Providence, RI. 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 Providence Community Opportunity Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Providence Community Opportunity Corporation is a micro nonprofit that has been operating for 33 years, with 7 years of IRS 990 filings on record (2011–2017). Revenue has grown at a compound annual rate of -18.7%.
Key Financial Metrics (2017)
From the most recent IRS 990 filing on record:
| Total Revenue | $47K |
| Total Expenses | $49K |
| Surplus / Deficit | $-1,734 |
| Total Assets | $49K |
| Net Assets | $49K |
| Operating Margin | -3.7% |
| Months of Reserves | 11.9 months |
Financial Health Grade: B
In 2017, Providence Community Opportunity Corporation reported a deficit of $2K with expenses exceeding revenue, holds 11.9 months of operating reserves (strong position).
Financial Trends
Over 7 years of filings (2011–2017), Providence Community Opportunity Corporation's revenue has declined at a compound annual growth rate (CAGR) of -18.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2017 | -6.0% | -2.0% | -3.4% |
| 2016 | +70.0% | +1.2% | +0.6% |
| 2015 | -66.7% | -58.0% | -28.4% |
| 2014 | -35.1% | -27.2% | -29.0% |
| 2013 | -14.3% | +35.0% | -19.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1993 |
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 Providence Community Opportunity Corporation with a Mission Score of 45 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 100%
- programs: 0%
- fundraising: 0%
According to IRS 990 filings, Providence Community Opportunity Corporation allocates its expenses as follows: admin: 100%, programs: 0%, fundraising: 0%.
Key Financial Metrics (2017)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $2K, with expenses exceeding revenue.
Executive Compensation Analysis
Executive compensation cannot be assessed as no specific compensation figures were provided in the available data.
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 Providence Community Opportunity Corporation's IRS 990 filings:
- Zero reported program spending across all years, indicating a potential lack of direct community impact.
- 100% of reported expenses consistently allocated to administrative costs, which is highly unusual for a nonprofit.
- Significant and consistent decline in revenue from $164,652 in 2011 to $47,422 in 2017.
- Expenses frequently exceed revenue, leading to a depletion of assets over time.
Strengths
The following positive indicators were identified for Providence Community Opportunity Corporation:
- The organization has consistently filed its financial reports.
Frequently Asked Questions about Providence Community Opportunity Corporation
Is Providence Community Opportunity Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Providence Community Opportunity Corporation (EIN: 222988003) significant concerns. Mission Score: 45/100. 4 red flags identified, 1 strength noted.
How does Providence Community Opportunity Corporation spend its money?
Detailed spending breakdown data is not yet available for Providence Community Opportunity Corporation. Check back for updated IRS 990 analysis.
Are donations to Providence Community Opportunity Corporation tax-deductible?
Providence Community Opportunity Corporation is registered as a tax-exempt nonprofit (EIN: 222988003). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Providence Community Opportunity Corporation located?
Providence Community Opportunity Corporation is headquartered in Providence, Rhode Island and files with the IRS under EIN 222988003.
How many years of IRS 990 filings does Providence Community Opportunity Corporation have?
Providence Community Opportunity Corporation has 7 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends.
What does Providence Community Opportunity Corporation do?
Providence Community Opportunity Corporation is a nonprofit organization in the Unknown sector, located in Providence, Rhode Island. It is classified under NTEE code Unknown.
How much revenue does Providence Community Opportunity Corporation have?
Providence Community Opportunity Corporation reported total revenue of N/A. Based on 7 IRS 990 filings on record.
What are Providence Community Opportunity Corporation's total assets?
Providence Community Opportunity Corporation holds total assets of N/A as reported in IRS 990 filings.
Where is Providence Community Opportunity Corporation located?
Providence Community Opportunity Corporation is based in Providence, Rhode Island.
What is Providence Community Opportunity Corporation's EIN?
Providence Community Opportunity Corporation's Employer Identification Number (EIN) is 222988003. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Providence Community Opportunity Corporation?
Providence Community Opportunity Corporation is classified under NTEE code Unknown (Unknown).
Is Providence Community Opportunity Corporation a registered 501(c)(3)?
Providence Community Opportunity Corporation appears in IRS records (EIN: 222988003). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Providence Community Opportunity Corporation file IRS Form 990?
Yes, Providence Community Opportunity Corporation has 7 IRS Form 990 filings on record. The most recent covers tax period 201706.
What was Providence Community Opportunity Corporation's revenue in 2017?
In the 201706 filing period, Providence Community Opportunity Corporation reported total revenue of $47,422, total expenses of $49,156, and net assets of $48,734.
Is Providence Community Opportunity Corporation's revenue growing or declining?
Providence Community Opportunity Corporation's revenue is declining. Revenue went from $50,453 (201606) to $47,422 (201706), a -6.0% change. Based on 7 filings on record.
What is Providence Community Opportunity Corporation's most recent 990 filing?
The most recent IRS Form 990 filing for Providence Community Opportunity Corporation covers tax period 201706. It shows revenue of $47,422, expenses of $49,156, total assets of $48,734, and liabilities of N/A.
Is Providence Community Opportunity Corporation a trustworthy charity?
Based on AI analysis of IRS 990 data, Providence Community Opportunity Corporation shows mixed signals. Mission Score: 45/100 (Fair). 4 red flags identified. 1 strength noted.
What are the red flags for Providence Community Opportunity Corporation?
The following concerns were identified: Zero reported program spending across all years, indicating a potential lack of direct community impact.. 100% of reported expenses consistently allocated to administrative costs, which is highly unusual for a nonprofit.. Significant and consistent decline in revenue from $164,652 in 2011 to $47,422 in 2017.. Expenses frequently exceed revenue, leading to a depletion of assets over time.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Providence Community Opportunity Corporation's strengths?
Positive indicators for Providence Community Opportunity Corporation include: The organization has consistently filed its financial reports.. These findings are derived from AI analysis of the organization's financial filings.
How does Providence Community Opportunity Corporation compensate executives?
Executive compensation cannot be assessed as no specific compensation figures were provided in the available data. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given 100% administrative spending and 0% program spending, what is the actual charitable activity or purpose of the Providence Community Opportunity Corporation?
Based on the provided financial data, the organization does not appear to be directly funding or operating any programs. All reported expenses are administrative, suggesting its primary function might be organizational maintenance without direct service delivery.
How has the Providence Community Opportunity Corporation sustained operations with consistently declining revenue and no reported fundraising?
The organization has sustained operations by drawing down its assets, as indicated by expenses often exceeding revenue. For example, in 2014, revenue was $89,206 while expenses were $117,870. Without fundraising, this model is unsustainable long-term.
Filing History
IRS 990 filing history for Providence Community Opportunity Corporation showing financial trends over 7 years of public records:
Over 7 years of IRS 990 filings (2011–2017), Providence Community Opportunity Corporation's revenue has declined by 71.2%, moving from $165K to $47K. Total assets decreased by 41.2% over the same period, from $83K to $49K. Total functional expenses fell by 69.3%, from $160K to $49K. In its most recent filing year (2017), Providence Community Opportunity Corporation reported a deficit of $2K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2017 | $47K | $49K | $49K | $0 | — | — |
| 2016 | $50K | $50K | $50K | $0 | — | View 990 |
| 2015 | $30K | $50K | $50K | $0 | — | View 990 |
| 2014 | $89K | $118K | $70K | $0 | — | View 990 |
| 2013 | $137K | $162K | $99K | $0 | — | View 990 |
| 2012 | $160K | $120K | $123K | $0 | — | View 990 |
| 2011 | $165K | $160K | $83K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2017: Revenue of $47K, expenses of $49K, and assets of $49K (revenue -6.0% year-over-year).
- 2016: Revenue of $50K, expenses of $50K, and assets of $50K (revenue +70.0% year-over-year).
- 2015: Revenue of $30K, expenses of $50K, and assets of $50K (revenue -66.7% year-over-year).
- 2014: Revenue of $89K, expenses of $118K, and assets of $70K (revenue -35.1% year-over-year).
- 2013: Revenue of $137K, expenses of $162K, and assets of $99K (revenue -14.3% year-over-year).
- 2012: Revenue of $160K, expenses of $120K, and assets of $123K (revenue -2.6% year-over-year).
- 2011: Revenue of $165K, expenses of $160K, and assets of $83K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Providence Community Opportunity Corporation:
Data Sources and Methodology
This transparency report for Providence Community Opportunity Corporation 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.