Selamta Family Project Inc
Selamta Family Project Inc faces recent operating deficits despite strong program focus and no officer compensation.
EIN: 202199559 · Lake Placid, FL · NTEE: P20 · Updated: 2026-03-28
Is Selamta Family Project Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Selamta Family Project Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Selamta Family Project Inc
Selamta Family Project Inc (EIN: 202199559) is a nonprofit organization based in Lake Placid, FL, classified under NTEE code P20. The organization reported total revenue of $560K and total assets of $139K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Selamta Family Project Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Selamta Family Project Inc is a small nonprofit that has been operating for 21 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 4.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $572K |
| Total Expenses | $605K |
| Surplus / Deficit | $-32,330 |
| Total Assets | $47K |
| Total Liabilities | $13K |
| Net Assets | $33K |
| Operating Margin | -5.7% |
| Debt-to-Asset Ratio | 28.7% |
| Months of Reserves | 0.9 months |
Financial Health Grade: C
In 2023, Selamta Family Project Inc reported a deficit of $32K with expenses exceeding revenue, holds 0.9 months of operating reserves (limited), has a debt-to-asset ratio of 28.7% (moderate leverage).
Financial Trends
Over 14 years of filings (2010–2023), Selamta Family Project Inc's revenue has grown at a compound annual growth rate (CAGR) of 4.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -7.8% | -18.6% | -50.0% |
| 2022 | -2.3% | +19.1% | -51.6% |
| 2021 | -0.2% | +14.8% | -5.0% |
| 2020 | +20.4% | +4.4% | +115.4% |
| 2019 | +18.8% | +27.7% | +19.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2005 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Selamta Family Project Inc with a Mission Score of 75 out of 100 (Good). 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, Selamta Family Project 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.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $32K, with expenses exceeding revenue.
- Debt-to-asset ratio: 28.7%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that the organization's officers are not receiving salaries, which is a strong positive for donor trust and resource allocation to programs.
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 Selamta Family Project Inc's IRS 990 filings:
- Operating deficits in recent years (e.g., 202312: -$32,330; 202212: -$122,399)
- Declining asset base from $193,931 in 202112 to $46,895 in 202312
- Liabilities increased from $5,756 in 202112 to $13,449 in 202312
Strengths
The following positive indicators were identified for Selamta Family Project Inc:
- 0% officer compensation reported across all available filings, indicating strong financial stewardship at the leadership level.
- Consistent history of filings, demonstrating transparency.
- Strong program focus, as implied by the mission and lack of executive compensation, suggesting most funds go to beneficiaries.
Frequently Asked Questions about Selamta Family Project Inc
Is Selamta Family Project Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Selamta Family Project Inc (EIN: 202199559) some concerns. Mission Score: 75/100. 3 red flags identified, 3 strengths noted.
How does Selamta Family Project Inc spend its money?
Selamta Family Project Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Selamta Family Project Inc tax-deductible?
Selamta Family Project Inc is registered as a tax-exempt nonprofit (EIN: 202199559). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Selamta Family Project Inc a good charity?
Selamta Family Project Inc demonstrates a strong commitment to its mission with 0% officer compensation and a high likely percentage of spending on programs. However, recent operating deficits and declining assets suggest a need for improved financial stability.
Why are expenses exceeding revenue in recent years?
In 202312, expenses ($604,509) exceeded revenue ($572,179), and similarly in 202212, expenses ($743,038) exceeded revenue ($620,639). This trend indicates the organization is spending more than it is taking in, which could be due to increased program costs, fundraising efforts, or a temporary dip in donations.
What is the trend in the organization's assets?
The organization's assets have fluctuated, peaking at $204,115 in 202012 and declining to $46,895 in 202312. This downward trend in assets, especially alongside operating deficits, suggests a reduction in financial reserves.
Filing History
IRS 990 filing history for Selamta Family Project Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Selamta Family Project Inc's revenue has grown by 74.5%, moving from $328K to $572K. Total assets decreased by 33.1% over the same period, from $70K to $47K. Total functional expenses rose by 94.2%, from $311K to $605K. In its most recent filing year (2023), Selamta Family Project Inc reported a deficit of $32K, with expenses exceeding revenue. The organization holds $13K in liabilities against $47K in assets (debt-to-asset ratio: 28.7%), resulting in net assets of $33K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $572K | $605K | $47K | $13K | — | — |
| 2022 | $621K | $743K | $94K | $28K | — | View 990 |
| 2021 | $635K | $624K | $194K | $6K | — | View 990 |
| 2020 | $636K | $543K | $204K | $27K | — | — |
| 2019 | $529K | $520K | $95K | $11K | — | View 990 |
| 2018 | $445K | $407K | $79K | $4K | — | View 990 |
| 2017 | $408K | $393K | $49K | $12K | — | View 990 |
| 2016 | $335K | $447K | $34K | $11K | — | View 990 |
| 2015 | $385K | $404K | $137K | $1K | — | View 990 |
| 2014 | $362K | $312K | $209K | $54K | — | View 990 |
| 2013 | $305K | $242K | $151K | $46K | — | View 990 |
| 2012 | $241K | $228K | $88K | $46K | — | View 990 |
| 2011 | $198K | $196K | $73K | $45K | — | View 990 |
| 2010 | $328K | $311K | $70K | $43K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $572K, expenses of $605K, and assets of $47K (revenue -7.8% year-over-year).
- 2022: Revenue of $621K, expenses of $743K, and assets of $94K (revenue -2.3% year-over-year).
- 2021: Revenue of $635K, expenses of $624K, and assets of $194K (revenue -0.2% year-over-year).
- 2020: Revenue of $636K, expenses of $543K, and assets of $204K (revenue +20.4% year-over-year).
- 2019: Revenue of $529K, expenses of $520K, and assets of $95K (revenue +18.8% year-over-year).
- 2018: Revenue of $445K, expenses of $407K, and assets of $79K (revenue +9.2% year-over-year).
- 2017: Revenue of $408K, expenses of $393K, and assets of $49K (revenue +21.9% year-over-year).
- 2016: Revenue of $335K, expenses of $447K, and assets of $34K (revenue -13.0% year-over-year).
- 2015: Revenue of $385K, expenses of $404K, and assets of $137K (revenue +6.2% year-over-year).
- 2014: Revenue of $362K, expenses of $312K, and assets of $209K (revenue +18.8% year-over-year).
- 2013: Revenue of $305K, expenses of $242K, and assets of $151K (revenue +26.5% year-over-year).
- 2012: Revenue of $241K, expenses of $228K, and assets of $88K (revenue +21.8% year-over-year).
- 2011: Revenue of $198K, expenses of $196K, and assets of $73K (revenue -39.7% year-over-year).
- 2010: Revenue of $328K, expenses of $311K, and assets of $70K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Selamta Family Project Inc:
Data Sources and Methodology
This transparency report for Selamta Family Project 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.