Society For Strings Inc
Society For Strings Inc maintains substantial assets despite recent operating deficits and reports no executive compensation.
EIN: 131686434 · Westport, NY · NTEE: A6E0 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.7M |
| Total Expenses | $2.0M |
| Program Spending | 90% |
| CEO/Top Officer Pay | $7 |
| Net Assets | $7.0M |
| Transparency Score | 90/100 |
Is Society For Strings Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Society For Strings Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Society For Strings Inc
Society For Strings Inc (EIN: 131686434) is a nonprofit organization based in Westport, NY, classified under NTEE code A6E0. The organization reported total revenue of $2.7M and total assets of $7.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Society For Strings Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Society For Strings Inc is a mid-size nonprofit that has been operating for 74 years, with 14 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 3.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.0M |
| Total Expenses | $2.0M |
| Surplus / Deficit | $-45,985 |
| Total Assets | $7.1M |
| Total Liabilities | $94K |
| Net Assets | $7.0M |
| Operating Margin | -2.4% |
| Debt-to-Asset Ratio | 1.3% |
| Months of Reserves | 42.5 months |
Financial Health Grade: B
In 2023, Society For Strings Inc reported a deficit of $46K with expenses exceeding revenue, holds 42.5 months of operating reserves (strong position), has a debt-to-asset ratio of 1.3% (very low leverage).
Financial Trends
Over 14 years of filings (2011–2023), Society For Strings Inc's revenue has grown at a compound annual growth rate (CAGR) of 3.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +0.9% | -13.0% | +3.5% |
| 2022 | +970.2% | +928.2% | -13.5% |
| 2021 | -84.2% | -77.2% | +0.5% |
| 2021 | +167.5% | +65.0% | +6.6% |
| 2020 | -64.3% | -54.6% | -2.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1952 |
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 Society For Strings Inc with a Mission Score of 90 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: 5%
- programs: 90%
- fundraising: 5%
According to IRS 990 filings, Society For Strings Inc allocates its expenses as follows: admin: 5%, programs: 90%, fundraising: 5%. 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 deficit of $46K, with expenses exceeding revenue.
- Debt-to-asset ratio: 1.3%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers receive salaries from the organization. This is highly unusual for an organization with assets exceeding $7 million and annual revenues often over $1 million, suggesting a volunteer-led or externally funded leadership structure.
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 Society For Strings Inc's IRS 990 filings:
- Recurring operating deficits in recent years (e.g., 2023 and 2022)
- Significant year-over-year revenue volatility
Strengths
The following positive indicators were identified for Society For Strings Inc:
- Consistent reporting of 0% officer compensation
- Substantial asset base ($7,231,626) providing financial stability
- Implied high program spending efficiency due to no executive compensation
Frequently Asked Questions about Society For Strings Inc
Is Society For Strings Inc a legitimate charity?
Society For Strings Inc (EIN: 131686434) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 90/100. It has 14 years of IRS 990 filings on record. Total revenue: $2.7M. 2 red flags identified. 3 strengths noted. Financial health grade: B.
How does Society For Strings Inc spend its money?
Society For Strings Inc directs 90% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Society For Strings Inc tax-deductible?
Society For Strings Inc is registered as a tax-exempt nonprofit (EIN: 131686434). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Society For Strings Inc CEO make?
Society For Strings Inc's highest-compensated officer earns $7 annually. The organization reported $2.7M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Society For Strings Inc's spending goes to programs?
Society For Strings Inc directs 90% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Society For Strings Inc compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), Society For Strings Inc is above average for NTEE category A6E0 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Society For Strings Inc located?
Society For Strings Inc is headquartered in Westport, New York and files with the IRS under EIN 131686434. It is classified under NTEE code A6E0.
How many years of IRS 990 filings does Society For Strings Inc have?
Society For Strings Inc has 14 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 $2.7M in total revenue.
Is Society For Strings Inc a good charity?
Based on the available data, Society For Strings Inc appears to be a good charity, particularly due to its strong asset base, consistent reporting of 0% officer compensation, and implied high program spending efficiency. However, the recurring operating deficits in recent years (e.g., 2023 and 2022) should be considered.
How does Society For Strings Inc manage its finances given the revenue fluctuations?
The organization experiences significant revenue fluctuations, ranging from $180,653 in 2021 to $1,950,127 in 2023. Despite this, it maintains a robust asset base, suggesting effective management of its endowment or investments to buffer against inconsistent annual income.
What is the long-term impact of the recurring operating deficits?
While the organization has substantial assets ($7,231,626), recurring operating deficits, such as the $45,985 deficit in 2023 and $361,569 in 2022, could gradually erode its asset base if not addressed. This trend needs to be monitored for long-term financial health.
Filing History
IRS 990 filing history for Society For Strings Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2023), Society For Strings Inc's revenue has grown by 51.9%, moving from $1.3M to $2.0M. Total assets increased by 152.5% over the same period, from $2.8M to $7.1M. Total functional expenses rose by 112.7%, from $939K to $2.0M. In its most recent filing year (2023), Society For Strings Inc reported a deficit of $46K, with expenses exceeding revenue. The organization holds $94K in liabilities against $7.1M in assets (debt-to-asset ratio: 1.3%), resulting in net assets of $7.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.0M | $2.0M | $7.1M | $94K | — | — |
| 2022 | $1.9M | $2.3M | $6.8M | $70K | — | View 990 |
| 2021 | $181K | $223K | $7.9M | $200K | — | View 990 |
| 2021 | $1.1M | $978K | $7.9M | $30K | — | View 990 |
| 2020 | $427K | $593K | $7.4M | $27K | — | View 990 |
| 2019 | $1.2M | $1.3M | $7.5M | $14K | — | View 990 |
| 2018 | $1.6M | $1.2M | $7.4M | $28K | — | View 990 |
| 2017 | $1.2M | $1.2M | $7.3M | $5K | — | View 990 |
| 2016 | $1.1M | $1.1M | $7.0M | $2K | — | View 990 |
| 2015 | $1.9M | $1.1M | $6.9M | $4K | — | View 990 |
| 2014 | $4.0M | $1.1M | $6.3M | $7K | — | View 990 |
| 2013 | $1.3M | $1.1M | $3.4M | $11K | — | View 990 |
| 2012 | $1.4M | $1.0M | $3.2M | $13K | — | View 990 |
| 2011 | $1.3M | $939K | $2.8M | $17K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.0M, expenses of $2.0M, and assets of $7.1M (revenue +0.9% year-over-year).
- 2022: Revenue of $1.9M, expenses of $2.3M, and assets of $6.8M (revenue +970.2% year-over-year).
- 2021: Revenue of $181K, expenses of $223K, and assets of $7.9M (revenue -84.2% year-over-year).
- 2021: Revenue of $1.1M, expenses of $978K, and assets of $7.9M (revenue +167.5% year-over-year).
- 2020: Revenue of $427K, expenses of $593K, and assets of $7.4M (revenue -64.3% year-over-year).
- 2019: Revenue of $1.2M, expenses of $1.3M, and assets of $7.5M (revenue -23.6% year-over-year).
- 2018: Revenue of $1.6M, expenses of $1.2M, and assets of $7.4M (revenue +29.6% year-over-year).
- 2017: Revenue of $1.2M, expenses of $1.2M, and assets of $7.3M (revenue +7.3% year-over-year).
- 2016: Revenue of $1.1M, expenses of $1.1M, and assets of $7.0M (revenue -41.3% year-over-year).
- 2015: Revenue of $1.9M, expenses of $1.1M, and assets of $6.9M (revenue -52.0% year-over-year).
- 2014: Revenue of $4.0M, expenses of $1.1M, and assets of $6.3M (revenue +219.4% year-over-year).
- 2013: Revenue of $1.3M, expenses of $1.1M, and assets of $3.4M (revenue -9.1% year-over-year).
- 2012: Revenue of $1.4M, expenses of $1.0M, and assets of $3.2M (revenue +7.1% year-over-year).
- 2011: Revenue of $1.3M, expenses of $939K, and assets of $2.8M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Society For Strings Inc:
Data Sources and Methodology
This transparency report for Society For Strings 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.