Scarlet Covering Inc
EIN: 364669638 · Baltimore, MD · NTEE: O50
| Metric | Value |
|---|---|
| Total Revenue | $2.8M |
| Total Expenses | $1.9M |
| Net Assets | $1.3M |
Is Scarlet Covering Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Scarlet Covering Inc
Scarlet Covering Inc (EIN: 364669638) is a nonprofit organization based in Baltimore, MD, classified under NTEE code O50. The organization reported total revenue of $2.8M and total assets of $1.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Scarlet Covering Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Scarlet Covering Inc is a mid-size nonprofit that has been operating for 15 years, with 11 years of IRS 990 filings on record (2013–2023). Revenue has grown at a compound annual rate of 10.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.2M |
| Total Expenses | $1.9M |
| Surplus / Deficit | +$301K |
| Total Assets | $1.4M |
| Total Liabilities | $150K |
| Net Assets | $1.3M |
| Operating Margin | 13.7% |
| Debt-to-Asset Ratio | 10.7% |
| Months of Reserves | 8.9 months |
Financial Health Grade: A
In 2023, Scarlet Covering Inc reported a surplus of $301K with revenue exceeding expenses, holds 8.9 months of operating reserves (strong position), has a debt-to-asset ratio of 10.7% (very low leverage).
Financial Trends
Over 11 years of filings (2013–2023), Scarlet Covering Inc's revenue has grown at a compound annual growth rate (CAGR) of 10.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +36.3% | +26.5% | +22.0% |
| 2022 | +44.4% | +26.6% | +10.9% |
| 2021 | +3.1% | +30.4% | +115.6% |
| 2020 | -6.2% | -24.7% | +194.9% |
| 2019 | -3.2% | +7.2% | -21.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2011 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Scarlet Covering 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 Scarlet Covering 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 (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $301K, with revenue exceeding expenses.
- Debt-to-asset ratio: 10.7%.
Frequently Asked Questions about Scarlet Covering Inc
Is Scarlet Covering Inc a legitimate charity?
Scarlet Covering Inc (EIN: 364669638) is a registered tax-exempt nonprofit based in Maryland. It has 11 years of IRS 990 filings on record. Total revenue: $2.8M. No red flags identified. Financial health grade: A.
How does Scarlet Covering Inc spend its money?
Scarlet Covering Inc reported $2.8M in total revenue in IRS 990 filings. 11 years of filing data available. Revenue exceeded expenses in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Scarlet Covering Inc tax-deductible?
Scarlet Covering Inc is registered as a tax-exempt nonprofit (EIN: 364669638). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Scarlet Covering Inc located?
Scarlet Covering Inc is headquartered in Baltimore, Maryland and files with the IRS under EIN 364669638. It is classified under NTEE code O50.
How many years of IRS 990 filings does Scarlet Covering Inc have?
Scarlet Covering 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 $2.8M in total revenue.
Filing History
IRS 990 filing history for Scarlet Covering Inc showing financial trends over 11 years of public records:
Over 11 years of IRS 990 filings (2013–2023), Scarlet Covering Inc's revenue has grown by 168.9%, moving from $815K to $2.2M. Total assets increased by 1086.6% over the same period, from $119K to $1.4M. Total functional expenses rose by 156.5%, from $737K to $1.9M. In its most recent filing year (2023), Scarlet Covering Inc reported a surplus of $301K, with revenue exceeding expenses. The organization holds $150K in liabilities against $1.4M in assets (debt-to-asset ratio: 10.7%), resulting in net assets of $1.3M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.2M | $1.9M | $1.4M | $150K | — | View 990 |
| 2022 | $1.6M | $1.5M | $1.2M | $150K | — | View 990 |
| 2021 | $1.1M | $1.2M | $1.0M | $552K | — | View 990 |
| 2020 | $1.1M | $905K | $483K | $168K | — | — |
| 2019 | $1.2M | $1.2M | $164K | $25K | — | View 990 |
| 2018 | $1.2M | $1.1M | $208K | $19K | — | View 990 |
| 2017 | $1.0M | $1.0M | $140K | $21K | — | View 990 |
| 2016 | $918K | $915K | $0 | $0 | — | View 990 |
| 2015 | $896K | $947K | $0 | $0 | — | View 990 |
| 2014 | $895K | $884K | $129K | $0 | — | View 990 |
| 2013 | $815K | $737K | $119K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.2M, expenses of $1.9M, and assets of $1.4M (revenue +36.3% year-over-year).
- 2022: Revenue of $1.6M, expenses of $1.5M, and assets of $1.2M (revenue +44.4% year-over-year).
- 2021: Revenue of $1.1M, expenses of $1.2M, and assets of $1.0M (revenue +3.1% year-over-year).
- 2020: Revenue of $1.1M, expenses of $905K, and assets of $483K (revenue -6.2% year-over-year).
- 2019: Revenue of $1.2M, expenses of $1.2M, and assets of $164K (revenue -3.2% year-over-year).
- 2018: Revenue of $1.2M, expenses of $1.1M, and assets of $208K (revenue +15.1% year-over-year).
- 2017: Revenue of $1.0M, expenses of $1.0M, and assets of $140K (revenue +12.7% year-over-year).
- 2016: Revenue of $918K, expenses of $915K, and assets of $0 (revenue +2.5% year-over-year).
- 2015: Revenue of $896K, expenses of $947K, and assets of $0 (revenue +0.1% year-over-year).
- 2014: Revenue of $895K, expenses of $884K, and assets of $129K (revenue +9.7% year-over-year).
- 2013: Revenue of $815K, expenses of $737K, and assets of $119K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Scarlet Covering Inc:
Data Sources and Methodology
This transparency report for Scarlet Covering 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.