Second Blessings Thrift Shop Inc

Is Second Blessings Thrift Shop Inc Legit?

Some Concerns

Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →

Second Blessings Thrift Shop Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.

About Second Blessings Thrift Shop Inc

Second Blessings Thrift Shop Inc (EIN: 202705291) is a nonprofit organization based in Tipton, IN, classified under NTEE code T70. The organization reported total revenue of $210K and total assets of $386K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Second Blessings Thrift Shop Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Second Blessings Thrift Shop Inc with a Mission Score of 88 out of 100 (Excellent). 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, Second Blessings Thrift Shop 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.

Executive Compensation Analysis

Executive compensation is reported as 0% across all available filings, indicating that the organization's leadership is either entirely volunteer or compensated through non-officer roles, which is highly favorable for resource allocation.

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 Second Blessings Thrift Shop Inc's IRS 990 filings:

• Lack of detailed program spending breakdown in provided summary data, requiring full 990 review for granular analysis.

Strengths

The following positive indicators were identified for Second Blessings Thrift Shop Inc:

• Consistent revenue growth, increasing from $116,380 in 2014 to $163,936 in 2023.
• Significant asset accumulation, growing from $40,844 in 2014 to $323,024 in 2023.
• Very low to zero liabilities across all filing periods, indicating strong financial health.
• 0% reported officer compensation, suggesting efficient use of funds and potentially volunteer leadership.
• Expenses consistently well below revenue, allowing for reinvestment and asset growth.

Frequently Asked Questions about Second Blessings Thrift Shop Inc

Filing History

IRS 990 filing history for Second Blessings Thrift Shop Inc showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Second Blessings Thrift Shop Inc's revenue has grown by 41.6%, moving from $116K to $164K. Total assets increased by 745.7% over the same period, from $38K to $323K. Total functional expenses rose by 6.2%, from $116K to $123K. In its most recent filing year (2023), Second Blessings Thrift Shop Inc reported a surplus of $41K, with revenue exceeding expenses. The organization holds $6K in liabilities against $323K in assets (debt-to-asset ratio: 1.8%), resulting in net assets of $317K.

Year-by-Year Financial Summary

• 2023: Revenue of $164K, expenses of $123K, and assets of $323K (revenue -11.7% year-over-year).
• 2022: Revenue of $186K, expenses of $115K, and assets of $267K (revenue +1.7% year-over-year).
• 2021: Revenue of $182K, expenses of $101K, and assets of $197K (revenue +24.5% year-over-year).
• 2020: Revenue of $147K, expenses of $110K, and assets of $116K (revenue +27.1% year-over-year).
• 2019: Revenue of $115K, expenses of $100K, and assets of $79K (revenue +16.1% year-over-year).
• 2018: Revenue of $99K, expenses of $91K, and assets of $64K (revenue +10.4% year-over-year).
• 2017: Revenue of $90K, expenses of $83K, and assets of $56K (revenue -0.5% year-over-year).
• 2016: Revenue of $90K, expenses of $87K, and assets of $49K (revenue -41.8% year-over-year).
• 2015: Revenue of $155K, expenses of $151K, and assets of $46K (revenue +33.6% year-over-year).
• 2014: Revenue of $116K, expenses of $111K, and assets of $41K (revenue -16.2% year-over-year).
• 2013: Revenue of $139K, expenses of $126K, and assets of $35K (revenue +17.2% year-over-year).
• 2012: Revenue of $118K, expenses of $135K, and assets of $23K (revenue +2.3% year-over-year).
• 2011: Revenue of $116K, expenses of $116K, and assets of $38K.

Data Sources and Methodology

This transparency report for Second Blessings Thrift Shop 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.