Shalimare Incorporated
Shalimare Incorporated shows consistent revenue growth and zero reported officer compensation over a decade.
EIN: 201344455 · Fort Myers, FL · NTEE: P82 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $6.6M |
| Total Expenses | $6.0M |
| Program Spending | 90% |
| CEO/Top Officer Pay | $6 |
| Net Assets | $2.1M |
| Transparency Score | 92/100 |
Is Shalimare Incorporated Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Shalimare Incorporated directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Shalimare Incorporated
Shalimare Incorporated (EIN: 201344455) is a nonprofit organization based in Fort Myers, FL, classified under NTEE code P82. The organization reported total revenue of $6.6M and total assets of $2.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Shalimare Incorporated's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Shalimare Incorporated is a mid-size nonprofit that has been operating for 16 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 17.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $6.6M |
| Total Expenses | $6.0M |
| Surplus / Deficit | +$601K |
| Total Assets | $2.2M |
| Total Liabilities | $41K |
| Net Assets | $2.1M |
| Operating Margin | 9.0% |
| Debt-to-Asset Ratio | 1.9% |
| Months of Reserves | 4.3 months |
Financial Health Grade: A
In 2023, Shalimare Incorporated reported a surplus of $601K with revenue exceeding expenses, holds 4.3 months of operating reserves (adequate), has a debt-to-asset ratio of 1.9% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Shalimare Incorporated's revenue has grown at a compound annual growth rate (CAGR) of 17.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +29.0% | +25.0% | +41.2% |
| 2022 | +18.6% | +6.0% | +23.4% |
| 2021 | -16.4% | +0.8% | -19.2% |
| 2020 | +16.3% | +5.2% | +77.4% |
| 2019 | +10.3% | +15.9% | +40.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2010 |
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 Shalimare Incorporated with a Mission Score of 92 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: 90%
- fundraising: 0%
According to IRS 990 filings, Shalimare Incorporated allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% 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 surplus of $601K, with revenue exceeding expenses.
- Debt-to-asset ratio: 1.9%.
Executive Compensation Analysis
Shalimare Incorporated consistently reports 0% officer compensation across all 13 available IRS 990 filings, which is highly unusual for an organization with annual revenues exceeding $6 million. This suggests either a fully volunteer-led executive team or that executive compensation is categorized differently within their financial statements, requiring further clarification for full transparency.
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 Shalimare Incorporated's IRS 990 filings:
- Consistent 0% officer compensation reported, which is unusual for an organization of this size and warrants further investigation into how executive leadership is compensated or structured.
Strengths
The following positive indicators were identified for Shalimare Incorporated:
- Consistent revenue growth over a decade, from $2.3 million in 2014 to $6.6 million in 2023, indicating strong financial sustainability.
- Healthy asset growth, increasing from $429,874 in 2014 to $2,169,831 in 2023, demonstrating capacity building.
- Low liabilities relative to assets and revenue, suggesting good financial management and minimal debt burden.
- High program spending efficiency, with expenses consistently close to revenue (e.g., $6,046,144 expenses on $6,647,613 revenue in 2023), indicating most funds are directed towards operations and mission.
- Strong transparency regarding executive compensation, even if the 0% figure requires further context.
Frequently Asked Questions about Shalimare Incorporated
Is Shalimare Incorporated a legitimate charity?
Shalimare Incorporated (EIN: 201344455) is a registered tax-exempt nonprofit based in Florida. Our AI analysis gives it a Mission Score of 92/100. It has 13 years of IRS 990 filings on record. Total revenue: $6.6M. 1 red flag identified. 5 strengths noted. Financial health grade: A.
How does Shalimare Incorporated spend its money?
Shalimare Incorporated directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Shalimare Incorporated tax-deductible?
Shalimare Incorporated is registered as a tax-exempt nonprofit (EIN: 201344455). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Shalimare Incorporated CEO make?
Shalimare Incorporated's highest-compensated officer earns $6 annually. The organization reported $6.6M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
How does Shalimare Incorporated compare to similar nonprofits?
With a transparency score of 92/100 (Excellent), Shalimare Incorporated is above average for NTEE category P82 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Shalimare Incorporated located?
Shalimare Incorporated is headquartered in Fort Myers, Florida and files with the IRS under EIN 201344455. It is classified under NTEE code P82.
How many years of IRS 990 filings does Shalimare Incorporated have?
Shalimare Incorporated has 13 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 $6.6M in total revenue.
How does Shalimare Incorporated manage to operate with 0% reported officer compensation given its size and revenue?
The consistent reporting of 0% officer compensation across all 13 filings is highly unusual for an organization with revenues exceeding $6 million. This could indicate a fully volunteer executive team, or that executive compensation is categorized under other expense lines (e.g., program staff salaries if officers also perform program duties) or paid by a related entity, which would require deeper scrutiny of their financial statements for complete understanding.
What is the primary driver of Shalimare Incorporated's consistent revenue growth?
While the filings show consistent revenue growth from $2.3 million in 2014 to $6.6 million in 2023, the specific sources of this growth (e.g., grants, donations, program service revenue) are not detailed in the provided summary. A deeper dive into the full 990 forms would be necessary to identify the primary drivers.
What are the specific program activities funded by Shalimare Incorporated, given its NTEE code P82?
The NTEE code P82 typically refers to 'Housing Development, Construction & Management' organizations. While the financial data indicates strong program spending, the specific types of housing initiatives or services provided are not detailed in this summary and would require reviewing the organization's mission statement and program service accomplishments in their full 990 filings.
Filing History
IRS 990 filing history for Shalimare Incorporated showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Shalimare Incorporated's revenue has grown by 601.4%, moving from $948K to $6.6M. Total assets increased by 440.3% over the same period, from $402K to $2.2M. Total functional expenses rose by 530.1%, from $960K to $6.0M. In its most recent filing year (2023), Shalimare Incorporated reported a surplus of $601K, with revenue exceeding expenses. The organization holds $41K in liabilities against $2.2M in assets (debt-to-asset ratio: 1.9%), resulting in net assets of $2.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $6.6M | $6.0M | $2.2M | $41K | — | View 990 |
| 2022 | $5.2M | $4.8M | $1.5M | $9K | — | View 990 |
| 2021 | $4.3M | $4.6M | $1.2M | $35K | — | View 990 |
| 2020 | $5.2M | $4.5M | $1.5M | $116K | — | View 990 |
| 2019 | $4.5M | $4.3M | $869K | $118K | — | View 990 |
| 2018 | $4.1M | $3.7M | $618K | $35K | — | View 990 |
| 2017 | $3.6M | $3.5M | $538K | $292K | — | View 990 |
| 2016 | $3.3M | $3.3M | $462K | $345K | — | View 990 |
| 2015 | $2.6M | $2.7M | $352K | $292K | — | View 990 |
| 2014 | $2.4M | $2.3M | $430K | $292K | — | View 990 |
| 2013 | $2.1M | $2.1M | $410K | $308K | — | View 990 |
| 2012 | $2.0M | $1.9M | $400K | $309K | — | View 990 |
| 2011 | $948K | $960K | $402K | $342K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $6.6M, expenses of $6.0M, and assets of $2.2M (revenue +29.0% year-over-year).
- 2022: Revenue of $5.2M, expenses of $4.8M, and assets of $1.5M (revenue +18.6% year-over-year).
- 2021: Revenue of $4.3M, expenses of $4.6M, and assets of $1.2M (revenue -16.4% year-over-year).
- 2020: Revenue of $5.2M, expenses of $4.5M, and assets of $1.5M (revenue +16.3% year-over-year).
- 2019: Revenue of $4.5M, expenses of $4.3M, and assets of $869K (revenue +10.3% year-over-year).
- 2018: Revenue of $4.1M, expenses of $3.7M, and assets of $618K (revenue +12.8% year-over-year).
- 2017: Revenue of $3.6M, expenses of $3.5M, and assets of $538K (revenue +7.5% year-over-year).
- 2016: Revenue of $3.3M, expenses of $3.3M, and assets of $462K (revenue +27.4% year-over-year).
- 2015: Revenue of $2.6M, expenses of $2.7M, and assets of $352K (revenue +11.3% year-over-year).
- 2014: Revenue of $2.4M, expenses of $2.3M, and assets of $430K (revenue +9.8% year-over-year).
- 2013: Revenue of $2.1M, expenses of $2.1M, and assets of $410K (revenue +8.3% year-over-year).
- 2012: Revenue of $2.0M, expenses of $1.9M, and assets of $400K (revenue +108.9% year-over-year).
- 2011: Revenue of $948K, expenses of $960K, and assets of $402K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Shalimare Incorporated:
Data Sources and Methodology
This transparency report for Shalimare Incorporated 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.