South Shore Economic Development Corporation
EIN: 237362584 · Rockland, MA
| Metric | Value |
|---|---|
| Total Revenue | $338K |
| Total Expenses | $420K |
| Net Assets | $-49,157 |
Is South Shore Economic Development Corporation Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About South Shore Economic Development Corporation
South Shore Economic Development Corporation (EIN: 237362584) is a nonprofit organization based in Rockland, MA. The organization reported total revenue of $338K and total assets of $241K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of South Shore Economic Development Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
South Shore Economic Development Corporation is a small nonprofit that has been operating for 52 years, with 14 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 14.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $411K |
| Total Expenses | $420K |
| Surplus / Deficit | $-8,724 |
| Total Assets | $176K |
| Total Liabilities | $225K |
| Net Assets | $-49,157 |
| Operating Margin | -2.1% |
| Debt-to-Asset Ratio | 127.9% |
| Months of Reserves | 5.0 months |
Financial Health Grade: C
In 2023, South Shore Economic Development Corporation reported a deficit of $9K with expenses exceeding revenue, holds 5.0 months of operating reserves (adequate), has a debt-to-asset ratio of 127.9% (high leverage).
Financial Trends
Over 14 years of filings (2011–2023), South Shore Economic Development Corporation's revenue has grown at a compound annual growth rate (CAGR) of 14.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +130.7% | +159.0% | +5.1% |
| 2022 | -57.5% | -58.9% | -21.9% |
| 2021 | +94.9% | +96.0% | +5.7% |
| 2020 | +163.5% | +44.4% | +54.9% |
| 2019 | -27.3% | +14.9% | -16.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1974 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for South Shore Economic Development Corporation 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 South Shore Economic Development Corporation 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 $9K, with expenses exceeding revenue.
- Debt-to-asset ratio: 127.9%.
Frequently Asked Questions about South Shore Economic Development Corporation
Is South Shore Economic Development Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, South Shore Economic Development Corporation (EIN: 237362584) insufficient data. 0 red flags identified, 0 strengths noted.
How does South Shore Economic Development Corporation spend its money?
Detailed spending breakdown data is not yet available for South Shore Economic Development Corporation. Check back for updated IRS 990 analysis.
Are donations to South Shore Economic Development Corporation tax-deductible?
South Shore Economic Development Corporation is registered as a tax-exempt nonprofit (EIN: 237362584). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is South Shore Economic Development Corporation located?
South Shore Economic Development Corporation is headquartered in Rockland, Massachusetts and files with the IRS under EIN 237362584.
How many years of IRS 990 filings does South Shore Economic Development Corporation have?
South Shore Economic Development Corporation 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 $338K in total revenue.
Filing History
IRS 990 filing history for South Shore Economic Development Corporation showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2023), South Shore Economic Development Corporation's revenue has grown by 404%, moving from $82K to $411K. Total assets decreased by 34.4% over the same period, from $269K to $176K. Total functional expenses rose by 340.5%, from $95K to $420K. In its most recent filing year (2023), South Shore Economic Development Corporation reported a deficit of $9K, with expenses exceeding revenue. The organization holds $225K in liabilities against $176K in assets (debt-to-asset ratio: 127.9%), resulting in net assets of $-49,157.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $411K | $420K | $176K | $225K | — | — |
| 2022 | $178K | $162K | $168K | $216K | — | View 990 |
| 2021 | $419K | $394K | $215K | $260K | — | View 990 |
| 2020 | $215K | $201K | $203K | $283K | — | — |
| 2019 | $82K | $139K | $131K | $236K | — | View 990 |
| 2018 | $112K | $121K | $157K | $216K | — | View 990 |
| 2018 | $16K | $11K | $191K | $216K | — | View 990 |
| 2017 | $8K | $13K | $179K | $214K | — | View 990 |
| 2016 | $61K | $218K | $159K | $205K | — | View 990 |
| 2015 | $95K | $143K | $296K | $195K | — | View 990 |
| 2014 | $154K | $177K | $304K | $148K | — | View 990 |
| 2013 | $91K | $128K | $282K | $57K | — | View 990 |
| 2012 | $99K | $100K | $275K | $27K | — | View 990 |
| 2011 | $82K | $95K | $269K | $51K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $411K, expenses of $420K, and assets of $176K (revenue +130.7% year-over-year).
- 2022: Revenue of $178K, expenses of $162K, and assets of $168K (revenue -57.5% year-over-year).
- 2021: Revenue of $419K, expenses of $394K, and assets of $215K (revenue +94.9% year-over-year).
- 2020: Revenue of $215K, expenses of $201K, and assets of $203K (revenue +163.5% year-over-year).
- 2019: Revenue of $82K, expenses of $139K, and assets of $131K (revenue -27.3% year-over-year).
- 2018: Revenue of $112K, expenses of $121K, and assets of $157K (revenue +586.6% year-over-year).
- 2018: Revenue of $16K, expenses of $11K, and assets of $191K (revenue +109.8% year-over-year).
- 2017: Revenue of $8K, expenses of $13K, and assets of $179K (revenue -87.2% year-over-year).
- 2016: Revenue of $61K, expenses of $218K, and assets of $159K (revenue -35.9% year-over-year).
- 2015: Revenue of $95K, expenses of $143K, and assets of $296K (revenue -38.2% year-over-year).
- 2014: Revenue of $154K, expenses of $177K, and assets of $304K (revenue +69.4% year-over-year).
- 2013: Revenue of $91K, expenses of $128K, and assets of $282K (revenue -8.2% year-over-year).
- 2012: Revenue of $99K, expenses of $100K, and assets of $275K (revenue +21.7% year-over-year).
- 2011: Revenue of $82K, expenses of $95K, and assets of $269K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for South Shore Economic Development Corporation:
Data Sources and Methodology
This transparency report for South Shore Economic Development Corporation 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.