Refreshing Springs Apartments Inc
EIN: 391782403 · Milwaukee, WI · NTEE: L200
| Metric | Value |
|---|---|
| Total Revenue | $96K |
| Total Expenses | $126K |
| Net Assets | $-641,353 |
Is Refreshing Springs Apartments Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Refreshing Springs Apartments Inc
Refreshing Springs Apartments Inc (EIN: 391782403) is a nonprofit organization based in Milwaukee, WI, classified under NTEE code L200. The organization reported total revenue of $96K and total assets of $567K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Refreshing Springs Apartments Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Refreshing Springs Apartments Inc is a micro nonprofit that has been operating for 32 years, with 11 years of IRS 990 filings on record (2011–2021). Revenue has grown at a compound annual rate of -0.7%.
Key Financial Metrics (2021)
From the most recent IRS 990 filing on record:
| Total Revenue | $96K |
| Total Expenses | $126K |
| Surplus / Deficit | $-30,329 |
| Total Assets | $567K |
| Total Liabilities | $1.2M |
| Net Assets | $-641,353 |
| Operating Margin | -31.6% |
| Debt-to-Asset Ratio | 213.1% |
| Months of Reserves | 53.9 months |
Financial Health Grade: C
In 2021, Refreshing Springs Apartments Inc reported a deficit of $30K with expenses exceeding revenue, holds 53.9 months of operating reserves (strong position), has a debt-to-asset ratio of 213.1% (high leverage).
Financial Trends
Over 11 years of filings (2011–2021), Refreshing Springs Apartments Inc's revenue has declined at a compound annual growth rate (CAGR) of -0.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2021 | +38.5% | +11.0% | -5.5% |
| 2020 | -40.3% | -27.3% | -9.0% |
| 2019 | -5.0% | +19.6% | -2.8% |
| 2018 | +11.8% | +12.7% | -0.9% |
| 2017 | +1.4% | -4.2% | -1.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1994 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Refreshing Springs Apartments 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 Refreshing Springs Apartments 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 (2021)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $30K, with expenses exceeding revenue.
- Debt-to-asset ratio: 213.1%.
Frequently Asked Questions about Refreshing Springs Apartments Inc
Is Refreshing Springs Apartments Inc a legitimate charity?
Refreshing Springs Apartments Inc (EIN: 391782403) is a registered tax-exempt nonprofit based in Wisconsin. It has 11 years of IRS 990 filings on record. Total revenue: $96K. No red flags identified. Financial health grade: C.
How does Refreshing Springs Apartments Inc spend its money?
Refreshing Springs Apartments Inc reported $96K in total revenue in IRS 990 filings. 11 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Refreshing Springs Apartments Inc tax-deductible?
Refreshing Springs Apartments Inc is registered as a tax-exempt nonprofit (EIN: 391782403). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Refreshing Springs Apartments Inc located?
Refreshing Springs Apartments Inc is headquartered in Milwaukee, Wisconsin and files with the IRS under EIN 391782403. It is classified under NTEE code L200.
How many years of IRS 990 filings does Refreshing Springs Apartments Inc have?
Refreshing Springs Apartments Inc has 11 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 $96K in total revenue.
Filing History
IRS 990 filing history for Refreshing Springs Apartments Inc showing financial trends over 11 years of public records:
Over 11 years of IRS 990 filings (2011–2021), Refreshing Springs Apartments Inc's revenue has declined by 6.7%, moving from $103K to $96K. Total assets decreased by 28.5% over the same period, from $794K to $567K. Total functional expenses fell by 7.7%, from $137K to $126K. In its most recent filing year (2021), Refreshing Springs Apartments Inc reported a deficit of $30K, with expenses exceeding revenue. The organization holds $1.2M in liabilities against $567K in assets (debt-to-asset ratio: 213.1%), resulting in net assets of $-641,353.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2021 | $96K | $126K | $567K | $1.2M | — | View 990 |
| 2020 | $69K | $114K | $601K | $1.2M | — | — |
| 2019 | $116K | $156K | $660K | $1.2M | — | View 990 |
| 2018 | $122K | $131K | $679K | $1.2M | — | View 990 |
| 2017 | $109K | $116K | $685K | $1.2M | — | View 990 |
| 2016 | $108K | $121K | $697K | $1.2M | — | View 990 |
| 2015 | $96K | $117K | $703K | $1.2M | — | View 990 |
| 2014 | $97K | $121K | $724K | $1.2M | — | View 990 |
| 2013 | $114K | $134K | $750K | $1.2M | — | View 990 |
| 2012 | $109K | $126K | $771K | $1.2M | — | View 990 |
| 2011 | $103K | $137K | $794K | $1.2M | — | View 990 |
Year-by-Year Financial Summary
- 2021: Revenue of $96K, expenses of $126K, and assets of $567K (revenue +38.5% year-over-year).
- 2020: Revenue of $69K, expenses of $114K, and assets of $601K (revenue -40.3% year-over-year).
- 2019: Revenue of $116K, expenses of $156K, and assets of $660K (revenue -5.0% year-over-year).
- 2018: Revenue of $122K, expenses of $131K, and assets of $679K (revenue +11.8% year-over-year).
- 2017: Revenue of $109K, expenses of $116K, and assets of $685K (revenue +1.4% year-over-year).
- 2016: Revenue of $108K, expenses of $121K, and assets of $697K (revenue +11.7% year-over-year).
- 2015: Revenue of $96K, expenses of $117K, and assets of $703K (revenue -0.9% year-over-year).
- 2014: Revenue of $97K, expenses of $121K, and assets of $724K (revenue -14.6% year-over-year).
- 2013: Revenue of $114K, expenses of $134K, and assets of $750K (revenue +4.6% year-over-year).
- 2012: Revenue of $109K, expenses of $126K, and assets of $771K (revenue +5.7% year-over-year).
- 2011: Revenue of $103K, expenses of $137K, and assets of $794K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Refreshing Springs Apartments Inc:
Data Sources and Methodology
This transparency report for Refreshing Springs Apartments 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.