Save A Suit Inc
EIN: 270863507 · Bethel, CT · NTEE: J20
Is Save A Suit Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Save A Suit Inc
Save A Suit Inc (EIN: 270863507) is a nonprofit organization based in Bethel, CT, classified under NTEE code J20. The organization reported total revenue of $724K and total assets of $421K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Save A Suit Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Save A Suit Inc is a small nonprofit that has been operating for 15 years, with 9 years of IRS 990 filings on record (2014–2022). Revenue has grown at a compound annual rate of -8.0%.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
| Total Revenue | $210K |
| Total Expenses | $219K |
| Surplus / Deficit | $-9,685 |
| Total Assets | $292K |
| Total Liabilities | $139K |
| Net Assets | $153K |
| Operating Margin | -4.6% |
| Debt-to-Asset Ratio | 47.6% |
| Months of Reserves | 16.0 months |
Financial Health Grade: B
In 2022, Save A Suit Inc reported a deficit of $10K with expenses exceeding revenue, holds 16.0 months of operating reserves (strong position), has a debt-to-asset ratio of 47.6% (moderate leverage).
Financial Trends
Over 9 years of filings (2014–2022), Save A Suit Inc's revenue has declined at a compound annual growth rate (CAGR) of -8.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | -66.8% | -58.7% | -10.0% |
| 2021 | +491.3% | +128.5% | +102.1% |
| 2020 | +0.8% | +9.7% | -20.3% |
| 2019 | -51.9% | -33.7% | -34.3% |
| 2018 | -80.0% | -66.2% | -68.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2100 |
| IRS Ruling Date | 2011 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Save A Suit 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 Save A Suit 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 (2022)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $10K, with expenses exceeding revenue.
- Debt-to-asset ratio: 47.6%.
Frequently Asked Questions about Save A Suit Inc
Is Save A Suit Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Save A Suit Inc (EIN: 270863507) insufficient data. 0 red flags identified, 0 strengths noted.
How does Save A Suit Inc spend its money?
Detailed spending breakdown data is not yet available for Save A Suit Inc. Check back for updated IRS 990 analysis.
Are donations to Save A Suit Inc tax-deductible?
Save A Suit Inc is registered as a tax-exempt nonprofit (EIN: 270863507). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Filing History
IRS 990 filing history for Save A Suit Inc showing financial trends over 9 years of public records:
Over 9 years of IRS 990 filings (2014–2022), Save A Suit Inc's revenue has declined by 48.5%, moving from $408K to $210K. Total assets increased by 9.8% over the same period, from $266K to $292K. Total functional expenses rose by 60.7%, from $137K to $219K. In its most recent filing year (2022), Save A Suit Inc reported a deficit of $10K, with expenses exceeding revenue. The organization holds $139K in liabilities against $292K in assets (debt-to-asset ratio: 47.6%), resulting in net assets of $153K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2022 | $210K | $219K | $292K | $139K | — | View 990 |
| 2021 | $632K | $531K | $325K | $162K | — | View 990 |
| 2020 | $107K | $233K | $161K | $98K | — | View 990 |
| 2019 | $106K | $212K | $202K | $14K | — | View 990 |
| 2018 | $220K | $320K | $307K | $13K | — | View 990 |
| 2017 | $1.1M | $945K | $962K | $14K | — | View 990 |
| 2016 | $1.1M | $703K | $795K | $2K | — | View 990 |
| 2015 | $355K | $212K | $409K | $0 | — | View 990 |
| 2014 | $408K | $137K | $266K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2022: Revenue of $210K, expenses of $219K, and assets of $292K (revenue -66.8% year-over-year).
- 2021: Revenue of $632K, expenses of $531K, and assets of $325K (revenue +491.3% year-over-year).
- 2020: Revenue of $107K, expenses of $233K, and assets of $161K (revenue +0.8% year-over-year).
- 2019: Revenue of $106K, expenses of $212K, and assets of $202K (revenue -51.9% year-over-year).
- 2018: Revenue of $220K, expenses of $320K, and assets of $307K (revenue -80.0% year-over-year).
- 2017: Revenue of $1.1M, expenses of $945K, and assets of $962K (revenue +2.5% year-over-year).
- 2016: Revenue of $1.1M, expenses of $703K, and assets of $795K (revenue +202.3% year-over-year).
- 2015: Revenue of $355K, expenses of $212K, and assets of $409K (revenue -12.9% year-over-year).
- 2014: Revenue of $408K, expenses of $137K, and assets of $266K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Save A Suit Inc:
Data Sources and Methodology
This transparency report for Save A Suit 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.