Rhema Corporation Inc
Rhema Corporation Inc. operates at near break-even with no reported officer compensation, but shows significant asset fluctuations.
EIN: 208181446 · Goldsboro, NC · NTEE: B20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $209K |
| Total Expenses | $172K |
| Program Spending | 85% |
| Net Assets | $9K |
| Transparency Score | 75/100 |
Is Rhema Corporation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Rhema Corporation Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Rhema Corporation Inc
Rhema Corporation Inc (EIN: 208181446) is a nonprofit organization based in Goldsboro, NC, classified under NTEE code B20. The organization reported total revenue of $209K and total assets of $0 according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Rhema Corporation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Rhema Corporation Inc is a small nonprofit that has been operating for 11 years, with 10 years of IRS 990 filings on record (2014–2023). Revenue has grown at a compound annual rate of 17.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $172K |
| Total Expenses | $172K |
| Surplus / Deficit | +$62 |
| Total Assets | $9K |
| Net Assets | $9K |
| Operating Margin | 0.0% |
| Months of Reserves | 0.6 months |
Financial Health Grade: B
In 2023, Rhema Corporation Inc reported a surplus of $62 with revenue exceeding expenses, holds 0.6 months of operating reserves (limited).
Financial Trends
Over 10 years of filings (2014–2023), Rhema Corporation Inc's revenue has grown at a compound annual growth rate (CAGR) of 17.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +2.1% | +2.1% | +0.7% |
| 2022 | +28.7% | +24.4% | +885500.0% |
| 2021 | +11.3% | +48.3% | -100.0% |
| 2020 | +17.8% | +0.4% | +23.0% |
| 2019 | +56.2% | +89.5% | +20.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2015 |
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 Rhema Corporation 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Rhema Corporation Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% 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 $62, with revenue exceeding expenses.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that officers are either uncompensated or compensated through non-reportable means, which is highly favorable for a small organization of this size.
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 Rhema Corporation Inc's IRS 990 filings:
- Dramatic decrease in reported assets from $140,635 in 2020 to $1 in 2021, and currently $0, without clear explanation.
- Operating consistently at near break-even, which may limit capacity for future growth or emergency reserves.
Strengths
The following positive indicators were identified for Rhema Corporation Inc:
- No reported officer compensation across all filings, indicating a volunteer-driven or highly efficient leadership structure.
- Consistent filing of IRS Form 990s, demonstrating transparency in reporting.
- Lean operational model with expenses closely matching revenue, suggesting fiscal conservatism.
Frequently Asked Questions about Rhema Corporation Inc
Is Rhema Corporation Inc a legitimate charity?
Rhema Corporation Inc (EIN: 208181446) is a registered tax-exempt nonprofit based in North Carolina. Our AI analysis gives it a Mission Score of 75/100. It has 10 years of IRS 990 filings on record. Total revenue: $209K. 2 red flags identified. 3 strengths noted. Financial health grade: B.
How does Rhema Corporation Inc spend its money?
Rhema Corporation Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Rhema Corporation Inc tax-deductible?
Rhema Corporation Inc is registered as a tax-exempt nonprofit (EIN: 208181446). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Rhema Corporation Inc's spending goes to programs?
Rhema Corporation Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Rhema Corporation Inc compare to similar nonprofits?
With a transparency score of 75/100 (Good), Rhema Corporation Inc is above average for NTEE category B20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Rhema Corporation Inc located?
Rhema Corporation Inc is headquartered in Goldsboro, North Carolina and files with the IRS under EIN 208181446. It is classified under NTEE code B20.
How many years of IRS 990 filings does Rhema Corporation Inc have?
Rhema Corporation Inc has 10 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 $209K in total revenue.
Is Rhema Corporation Inc. a good charity?
Rhema Corporation Inc. exhibits several characteristics of a well-intentioned charity, particularly its consistent operation with no reported officer compensation. However, the dramatic fluctuation and current $0 asset value raise questions about long-term stability and asset management that would need clarification for a definitive 'good' rating.
Why are the assets currently $0?
The provided data shows assets dropped from $140,635 in 2020 to $1 in 2021, and are currently reported as $0. This significant change requires further investigation into the organization's financial statements to understand if assets were liquidated, transferred, or if there's a change in reporting.
How does Rhema Corporation Inc. manage its expenses?
The organization consistently operates with expenses very close to revenue, as seen in 2023 ($171,626 revenue vs. $171,564 expenses) and 2022 ($168,104 revenue vs. $168,104 expenses). This suggests a tight budget management approach, though specific expense categories are not detailed in the provided data.
Filing History
IRS 990 filing history for Rhema Corporation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2014–2023), Rhema Corporation Inc's revenue has grown by 310%, moving from $42K to $172K. Total assets increased by 45.2% over the same period, from $6K to $9K. Total functional expenses rose by 360.7%, from $37K to $172K. In its most recent filing year (2023), Rhema Corporation Inc reported a surplus of $62, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $172K | $172K | $9K | $0 | — | View 990 |
| 2022 | $168K | $168K | $9K | $0 | — | View 990 |
| 2021 | $131K | $135K | $1 | $0 | — | — |
| 2020 | $117K | $91K | $141K | $0 | — | View 990 |
| 2019 | $100K | $91K | $114K | $0 | — | View 990 |
| 2018 | $64K | $48K | $95K | $0 | — | View 990 |
| 2017 | $141K | $60K | $94K | $4K | — | View 990 |
| 2016 | $156K | $56K | $117K | $8K | — | View 990 |
| 2015 | $40K | $36K | $10K | $998 | — | View 990 |
| 2014 | $42K | $37K | $6K | $850 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $172K, expenses of $172K, and assets of $9K (revenue +2.1% year-over-year).
- 2022: Revenue of $168K, expenses of $168K, and assets of $9K (revenue +28.7% year-over-year).
- 2021: Revenue of $131K, expenses of $135K, and assets of $1 (revenue +11.3% year-over-year).
- 2020: Revenue of $117K, expenses of $91K, and assets of $141K (revenue +17.8% year-over-year).
- 2019: Revenue of $100K, expenses of $91K, and assets of $114K (revenue +56.2% year-over-year).
- 2018: Revenue of $64K, expenses of $48K, and assets of $95K (revenue -54.7% year-over-year).
- 2017: Revenue of $141K, expenses of $60K, and assets of $94K (revenue -9.8% year-over-year).
- 2016: Revenue of $156K, expenses of $56K, and assets of $117K (revenue +286.5% year-over-year).
- 2015: Revenue of $40K, expenses of $36K, and assets of $10K (revenue -3.6% year-over-year).
- 2014: Revenue of $42K, expenses of $37K, and assets of $6K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Rhema Corporation Inc:
Data Sources and Methodology
This transparency report for Rhema Corporation 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.