Sky Farm Inc

Sky Farm Inc. maintains stable finances with no reported officer compensation, though recent expenses exceeded revenue.

EIN: 220731923 · Basking Ridge, NJ · Updated: 2026-03-28

$353KRevenue

$280KAssets

88/100Mission Score (Excellent)

Is Sky Farm Inc Legit?

Some Concerns

GoodFiling Consistency

ExcellentSpending Efficiency

GoodTransparency

1 FoundRed Flags

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

Sky Farm Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.

About Sky Farm Inc

Sky Farm Inc (EIN: 220731923) is a nonprofit organization based in Basking Ridge, NJ. The organization reported total revenue of $353K and total assets of $280K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Sky Farm Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Sky Farm Inc. demonstrates consistent operational activity with revenues generally exceeding or closely matching expenses over the past decade. For instance, in 202209, revenue was $320,357 against expenses of $298,291, indicating a surplus. However, the most recent filing (202409) shows expenses of $381,307 exceeding revenue of $341,388, resulting in a deficit for that period. The organization's assets have shown growth over time, from $143,125 in 201509 to $214,317 in 202409, suggesting a stable, albeit modest, financial base. Liabilities have remained relatively low, indicating good financial management and limited debt.

The organization's transparency is bolstered by its consistent filing of IRS Form 990s, with 14 filings available. A significant positive aspect is the reported 0% officer compensation across all available filings, which suggests that executive leadership is either volunteer-based or compensated through non-officer roles, contributing to a higher proportion of funds potentially directed towards programs. This practice enhances public trust and indicates a strong commitment to mission over administrative overhead.

While specific program spending ratios are not detailed in the provided data, the absence of officer compensation is a strong indicator of efficient resource allocation. The organization's financial health appears stable, though the recent deficit in 202409 warrants monitoring. Overall, Sky Farm Inc. appears to be a financially responsible organization with a good track record of transparency.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Sky Farm 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, Sky Farm 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

Sky Farm Inc. consistently reports 0% officer compensation across all 14 available filings, indicating that executive leadership is not compensated through traditional officer salaries, 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 Sky Farm Inc's IRS 990 filings:

Expenses exceeded revenue in the most recent 202409 filing ($381,307 vs $341,388), indicating a deficit for that period.

Strengths

The following positive indicators were identified for Sky Farm Inc:

Consistent 0% officer compensation across all 14 filings, indicating high efficiency and dedication to mission.
Long history of consistent IRS 990 filings (14 filings), demonstrating strong transparency.
Assets have shown consistent growth over the past decade, from $143,125 in 201509 to $214,317 in 202409.
Liabilities have remained low relative to assets, indicating sound financial management and minimal debt burden.

Frequently Asked Questions about Sky Farm Inc

Is Sky Farm Inc a legitimate charity?

Based on AI analysis of IRS 990 filings, Sky Farm Inc (EIN: 220731923) some concerns. Mission Score: 88/100. 1 red flag identified, 4 strengths noted.

How does Sky Farm Inc spend its money?

Sky Farm Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.

Are donations to Sky Farm Inc tax-deductible?

Sky Farm Inc is registered as a tax-exempt nonprofit (EIN: 220731923). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.

Is Sky Farm Inc. financially stable?

Yes, Sky Farm Inc. appears generally stable, with assets growing from $143,125 in 201509 to $214,317 in 202409. While the 202409 filing showed expenses ($381,307) exceeding revenue ($341,388), this is an isolated deficit within a trend of balanced or surplus operations.

How does Sky Farm Inc. manage executive compensation?

Sky Farm Inc. reports 0% officer compensation in all available IRS 990 filings, suggesting that its leadership is either volunteer or compensated through non-officer roles, which is a strong indicator of efficient resource use.

What is the trend in Sky Farm Inc.'s revenue and expenses?

Revenue has generally increased over the past decade, from $241,317 in 201509 to $341,388 in 202409. Expenses have largely tracked revenue, with most years showing a surplus or near-balance, except for the 202409 period where expenses slightly outpaced revenue.

Are Sky Farm Inc.'s assets growing?

Yes, the organization's assets have shown a positive growth trend, increasing from $143,125 in 201509 to $214,317 in 202409, indicating a healthy accumulation of resources.

Filing History

IRS 990 filing history for Sky Farm Inc showing financial trends over 14 years of public records:

Over 14 years of IRS 990 filings (2011–2024), Sky Farm Inc's revenue has grown by 77%, moving from $193K to $341K. Total assets increased by 57.5% over the same period, from $136K to $214K. Total functional expenses rose by 88.1%, from $203K to $381K. In its most recent filing year (2024), Sky Farm Inc reported a deficit of $40K, with expenses exceeding revenue. The organization holds $15K in liabilities against $214K in assets (debt-to-asset ratio: 6.8%), resulting in net assets of $200K.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2024	$341K	$381K	$214K	$15K	—	—
2023	$304K	$305K	$263K	$24K	—	View 990
2022	$320K	$298K	$266K	$25K	—	View 990
2021	$288K	$258K	$240K	$21K	—	—
2020	$275K	$241K	$225K	$36K	—	—
2019	$276K	$249K	$167K	$12K	—	View 990
2018	$267K	$287K	$133K	$4K	—	View 990
2017	$266K	$269K	$158K	$9K	—	View 990
2016	$253K	$238K	$157K	$5K	—	View 990
2015	$241K	$232K	$143K	$7K	—	View 990
2014	$232K	$234K	$129K	$2K	—	View 990
2013	$273K	$278K	$139K	$11K	—	View 990
2012	$232K	$230K	$146K	$13K	—	View 990
2011	$193K	$203K	$136K	$5K	—	View 990

Year-by-Year Financial Summary

2024: Revenue of $341K, expenses of $381K, and assets of $214K (revenue +12.4% year-over-year).
2023: Revenue of $304K, expenses of $305K, and assets of $263K (revenue -5.2% year-over-year).
2022: Revenue of $320K, expenses of $298K, and assets of $266K (revenue +11.4% year-over-year).
2021: Revenue of $288K, expenses of $258K, and assets of $240K (revenue +4.6% year-over-year).
2020: Revenue of $275K, expenses of $241K, and assets of $225K (revenue -0.5% year-over-year).
2019: Revenue of $276K, expenses of $249K, and assets of $167K (revenue +3.3% year-over-year).
2018: Revenue of $267K, expenses of $287K, and assets of $133K (revenue +0.5% year-over-year).
2017: Revenue of $266K, expenses of $269K, and assets of $158K (revenue +5.0% year-over-year).
2016: Revenue of $253K, expenses of $238K, and assets of $157K (revenue +5.0% year-over-year).
2015: Revenue of $241K, expenses of $232K, and assets of $143K (revenue +3.9% year-over-year).
2014: Revenue of $232K, expenses of $234K, and assets of $129K (revenue -15.0% year-over-year).
2013: Revenue of $273K, expenses of $278K, and assets of $139K (revenue +17.6% year-over-year).
2012: Revenue of $232K, expenses of $230K, and assets of $146K (revenue +20.5% year-over-year).
2011: Revenue of $193K, expenses of $203K, and assets of $136K.

Data Sources and Methodology

This transparency report for Sky Farm 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.