Sheets Adult Care Center
EIN: 561726514 · Raleigh, NC
| Metric | Value |
|---|---|
| Total Revenue | $538K |
| Total Expenses | $454K |
| Net Assets | $-32,732 |
Is Sheets Adult Care Center Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Sheets Adult Care Center
Sheets Adult Care Center (EIN: 561726514) is a nonprofit organization based in Raleigh, NC. The organization reported total revenue of $538K and total assets of $395K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Sheets Adult Care Center's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Sheets Adult Care Center is a small nonprofit that has been operating for 34 years, with 10 years of IRS 990 filings on record (2014–2023). Revenue has grown at a compound annual rate of 6.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $428K |
| Total Expenses | $454K |
| Surplus / Deficit | $-25,517 |
| Total Assets | $362K |
| Total Liabilities | $395K |
| Net Assets | $-32,732 |
| Operating Margin | -6.0% |
| Debt-to-Asset Ratio | 109.0% |
| Months of Reserves | 9.6 months |
Financial Health Grade: C
In 2023, Sheets Adult Care Center reported a deficit of $26K with expenses exceeding revenue, holds 9.6 months of operating reserves (strong position), has a debt-to-asset ratio of 109.0% (high leverage).
Financial Trends
Over 10 years of filings (2014–2023), Sheets Adult Care Center's revenue has grown at a compound annual growth rate (CAGR) of 6.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +1.0% | +19.9% | -9.7% |
| 2022 | +35.4% | +26.2% | +239.2% |
| 2021 | -31.3% | -19.7% | +8.4% |
| 2020 | +9.6% | -6.3% | +316.5% |
| 2019 | +22.3% | +14.3% | +373.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1992 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Sheets Adult Care Center 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 Sheets Adult Care Center 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 deficit of $26K, with expenses exceeding revenue.
- Debt-to-asset ratio: 109.0%.
Frequently Asked Questions about Sheets Adult Care Center
Is Sheets Adult Care Center a legitimate charity?
Sheets Adult Care Center (EIN: 561726514) is a registered tax-exempt nonprofit based in North Carolina. It has 10 years of IRS 990 filings on record. Total revenue: $538K. No red flags identified. Financial health grade: C.
How does Sheets Adult Care Center spend its money?
Sheets Adult Care Center reported $538K in total revenue in IRS 990 filings. 10 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Sheets Adult Care Center tax-deductible?
Sheets Adult Care Center is registered as a tax-exempt nonprofit (EIN: 561726514). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Sheets Adult Care Center located?
Sheets Adult Care Center is headquartered in Raleigh, North Carolina and files with the IRS under EIN 561726514.
How many years of IRS 990 filings does Sheets Adult Care Center have?
Sheets Adult Care Center has 10 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 $538K in total revenue.
Filing History
IRS 990 filing history for Sheets Adult Care Center showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2014–2023), Sheets Adult Care Center's revenue has grown by 80.3%, moving from $237K to $428K. Total assets increased by 6110.3% over the same period, from $6K to $362K. Total functional expenses rose by 88.5%, from $241K to $454K. In its most recent filing year (2023), Sheets Adult Care Center reported a deficit of $26K, with expenses exceeding revenue. The organization holds $395K in liabilities against $362K in assets (debt-to-asset ratio: 109.0%), resulting in net assets of $-32,732.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $428K | $454K | $362K | $395K | — | — |
| 2022 | $424K | $378K | $401K | $387K | — | View 990 |
| 2021 | $313K | $300K | $118K | $0 | — | View 990 |
| 2020 | $456K | $373K | $109K | $4K | — | — |
| 2019 | $416K | $398K | $26K | $4K | — | View 990 |
| 2018 | $340K | $349K | $6K | $309 | — | View 990 |
| 2017 | $328K | $324K | $14K | $61 | — | View 990 |
| 2016 | $296K | $295K | $11K | $271 | — | View 990 |
| 2015 | $261K | $258K | $9K | $41 | — | View 990 |
| 2014 | $237K | $241K | $6K | $255 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $428K, expenses of $454K, and assets of $362K (revenue +1.0% year-over-year).
- 2022: Revenue of $424K, expenses of $378K, and assets of $401K (revenue +35.4% year-over-year).
- 2021: Revenue of $313K, expenses of $300K, and assets of $118K (revenue -31.3% year-over-year).
- 2020: Revenue of $456K, expenses of $373K, and assets of $109K (revenue +9.6% year-over-year).
- 2019: Revenue of $416K, expenses of $398K, and assets of $26K (revenue +22.3% year-over-year).
- 2018: Revenue of $340K, expenses of $349K, and assets of $6K (revenue +3.8% year-over-year).
- 2017: Revenue of $328K, expenses of $324K, and assets of $14K (revenue +10.7% year-over-year).
- 2016: Revenue of $296K, expenses of $295K, and assets of $11K (revenue +13.5% year-over-year).
- 2015: Revenue of $261K, expenses of $258K, and assets of $9K (revenue +9.9% year-over-year).
- 2014: Revenue of $237K, expenses of $241K, and assets of $6K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Sheets Adult Care Center:
Data Sources and Methodology
This transparency report for Sheets Adult Care Center 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.