Second Chance Shop
EIN: 262480593 · Summerville, SC · NTEE: P29
| Metric | Value |
|---|---|
| Total Revenue | $458K |
| Total Expenses | $333K |
| Net Assets | $341K |
Is Second Chance Shop Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Second Chance Shop
Second Chance Shop (EIN: 262480593) is a nonprofit organization based in Summerville, SC, classified under NTEE code P29. The organization reported total revenue of $458K and total assets of $371K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Second Chance Shop's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Second Chance Shop is a small nonprofit that has been operating for 18 years, with 8 years of IRS 990 filings on record (2017–2023). Revenue has grown at a compound annual rate of 36.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $415K |
| Total Expenses | $333K |
| Surplus / Deficit | +$82K |
| Total Assets | $342K |
| Total Liabilities | $516 |
| Net Assets | $341K |
| Operating Margin | 19.7% |
| Debt-to-Asset Ratio | 0.2% |
| Months of Reserves | 12.3 months |
Financial Health Grade: A
In 2023, Second Chance Shop reported a surplus of $82K with revenue exceeding expenses, holds 12.3 months of operating reserves (strong position), has a debt-to-asset ratio of 0.2% (very low leverage).
Financial Trends
Over 8 years of filings (2017–2023), Second Chance Shop's revenue has grown at a compound annual growth rate (CAGR) of 36.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +18.2% | +21.9% | +31.5% |
| 2022 | +32.2% | +64.0% | +42.7% |
| 2021 | +59.9% | +23.1% | +73.8% |
| 2020 | -14.6% | -16.5% | +41.4% |
| 2019 | +31.5% | +175.9% | -46.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2008 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Second Chance Shop 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 Second Chance Shop 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 $82K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.2%.
Frequently Asked Questions about Second Chance Shop
Is Second Chance Shop a legitimate charity?
Second Chance Shop (EIN: 262480593) is a registered tax-exempt nonprofit based in South Carolina. It has 8 years of IRS 990 filings on record. Total revenue: $458K. No red flags identified. Financial health grade: A.
How does Second Chance Shop spend its money?
Second Chance Shop reported $458K in total revenue in IRS 990 filings. 8 years of filing data available. Revenue exceeded expenses in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Second Chance Shop tax-deductible?
Second Chance Shop is registered as a tax-exempt nonprofit (EIN: 262480593). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Second Chance Shop located?
Second Chance Shop is headquartered in Summerville, South Carolina and files with the IRS under EIN 262480593. It is classified under NTEE code P29.
How many years of IRS 990 filings does Second Chance Shop have?
Second Chance Shop has 8 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 $458K in total revenue.
Filing History
IRS 990 filing history for Second Chance Shop showing financial trends over 8 years of public records:
Over 8 years of IRS 990 filings (2017–2023), Second Chance Shop's revenue has grown by 549.3%, moving from $64K to $415K. Total assets increased by 1065.9% over the same period, from $29K to $342K. Total functional expenses rose by 433.8%, from $62K to $333K. In its most recent filing year (2023), Second Chance Shop reported a surplus of $82K, with revenue exceeding expenses. The organization holds $516 in liabilities against $342K in assets (debt-to-asset ratio: 0.2%), resulting in net assets of $341K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $415K | $333K | $342K | $516 | — | — |
| 2022 | $351K | $273K | $260K | $0 | — | View 990 |
| 2021 | $265K | $167K | $182K | $0 | — | View 990 |
| 2020 | $166K | $135K | $105K | $0 | — | — |
| 2019 | $194K | $162K | $74K | $0 | — | View 990 |
| 2018 | $148K | $59K | $138K | $0 | — | View 990 |
| 2018 | $68K | $53K | $34K | $0 | — | View 990 |
| 2017 | $64K | $62K | $29K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $415K, expenses of $333K, and assets of $342K (revenue +18.2% year-over-year).
- 2022: Revenue of $351K, expenses of $273K, and assets of $260K (revenue +32.2% year-over-year).
- 2021: Revenue of $265K, expenses of $167K, and assets of $182K (revenue +59.9% year-over-year).
- 2020: Revenue of $166K, expenses of $135K, and assets of $105K (revenue -14.6% year-over-year).
- 2019: Revenue of $194K, expenses of $162K, and assets of $74K (revenue +31.5% year-over-year).
- 2018: Revenue of $148K, expenses of $59K, and assets of $138K (revenue +118.8% year-over-year).
- 2018: Revenue of $68K, expenses of $53K, and assets of $34K (revenue +5.8% year-over-year).
- 2017: Revenue of $64K, expenses of $62K, and assets of $29K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Second Chance Shop:
Data Sources and Methodology
This transparency report for Second Chance Shop 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.