Rimta Foundation
EIN: 823979153 · Newport, RI · NTEE: S40
| Metric | Value |
|---|---|
| Total Expenses | $35K |
| Net Assets | $38K |
Is Rimta Foundation Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Rimta Foundation
Rimta Foundation (EIN: 823979153) is a nonprofit organization based in Newport, RI, classified under NTEE code S40. The organization reported total revenue of $0 and total assets of $12K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Rimta Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Rimta Foundation is a micro nonprofit that has been operating for 8 years, with 6 years of IRS 990 filings on record (2018–2023). Revenue has grown at a compound annual rate of -12.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $51K |
| Total Expenses | $35K |
| Surplus / Deficit | +$16K |
| Total Assets | $43K |
| Total Liabilities | $5K |
| Net Assets | $38K |
| Operating Margin | 31.9% |
| Debt-to-Asset Ratio | 11.6% |
| Months of Reserves | 14.9 months |
Financial Health Grade: A
In 2023, Rimta Foundation reported a surplus of $16K with revenue exceeding expenses, holds 14.9 months of operating reserves (strong position), has a debt-to-asset ratio of 11.6% (very low leverage).
Financial Trends
Over 6 years of filings (2018–2023), Rimta Foundation's revenue has declined at a compound annual growth rate (CAGR) of -12.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +104.2% | -73.9% | -18.4% |
| 2022 | -89.8% | -10.4% | -62.4% |
| 2021 | +21.3% | -9.5% | +112.4% |
| 2020 | +129.6% | +4.8% | +178.9% |
| 2019 | -13.2% | +334.5% | -76.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2800 |
| IRS Ruling Date | 2018 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Rimta Foundation 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 Rimta Foundation 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 surplus of $16K, with revenue exceeding expenses.
- Debt-to-asset ratio: 11.6%.
Frequently Asked Questions about Rimta Foundation
Is Rimta Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Rimta Foundation (EIN: 823979153) insufficient data. 0 red flags identified, 0 strengths noted.
How does Rimta Foundation spend its money?
Detailed spending breakdown data is not yet available for Rimta Foundation. Check back for updated IRS 990 analysis.
Are donations to Rimta Foundation tax-deductible?
Rimta Foundation is registered as a tax-exempt nonprofit (EIN: 823979153). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Rimta Foundation located?
Rimta Foundation is headquartered in Newport, Rhode Island and files with the IRS under EIN 823979153. It is classified under NTEE code S40.
How many years of IRS 990 filings does Rimta Foundation have?
Rimta Foundation has 6 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends.
Filing History
IRS 990 filing history for Rimta Foundation showing financial trends over 6 years of public records:
Over 6 years of IRS 990 filings (2018–2023), Rimta Foundation's revenue has declined by 49.7%, moving from $102K to $51K. Total assets decreased by 57.4% over the same period, from $101K to $43K. Total functional expenses fell by 3.8%, from $36K to $35K. In its most recent filing year (2023), Rimta Foundation reported a surplus of $16K, with revenue exceeding expenses. The organization holds $5K in liabilities against $43K in assets (debt-to-asset ratio: 11.6%), resulting in net assets of $38K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $51K | $35K | $43K | $5K | — | — |
| 2022 | $25K | $133K | $53K | $31K | — | View 990 |
| 2021 | $245K | $149K | $141K | $11K | — | — |
| 2020 | $202K | $165K | $66K | $32K | — | View 990 |
| 2019 | $88K | $157K | $24K | $27K | — | View 990 |
| 2018 | $102K | $36K | $101K | $36K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $51K, expenses of $35K, and assets of $43K (revenue +104.2% year-over-year).
- 2022: Revenue of $25K, expenses of $133K, and assets of $53K (revenue -89.8% year-over-year).
- 2021: Revenue of $245K, expenses of $149K, and assets of $141K (revenue +21.3% year-over-year).
- 2020: Revenue of $202K, expenses of $165K, and assets of $66K (revenue +129.6% year-over-year).
- 2019: Revenue of $88K, expenses of $157K, and assets of $24K (revenue -13.2% year-over-year).
- 2018: Revenue of $102K, expenses of $36K, and assets of $101K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Rimta Foundation:
Data Sources and Methodology
This transparency report for Rimta Foundation 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.