Spikenard Farm Inc
Spikenard Farm Inc shows strong asset growth and positive net income with no reported officer compensation.
EIN: 205539746 · Floyd, VA · NTEE: C40 · Updated: 2026-03-28
Is Spikenard Farm Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Spikenard Farm Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Spikenard Farm Inc
Spikenard Farm Inc (EIN: 205539746) is a nonprofit organization based in Floyd, VA, classified under NTEE code C40. The organization reported total revenue of $420K and total assets of $1.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Spikenard Farm Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Spikenard Farm Inc is a small nonprofit that has been operating for 20 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 14.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $629K |
| Total Expenses | $329K |
| Surplus / Deficit | +$300K |
| Total Assets | $1.9M |
| Total Liabilities | $2K |
| Net Assets | $1.8M |
| Operating Margin | 47.8% |
| Debt-to-Asset Ratio | 0.1% |
| Months of Reserves | 67.5 months |
Financial Health Grade: A
In 2023, Spikenard Farm Inc reported a surplus of $300K with revenue exceeding expenses, holds 67.5 months of operating reserves (strong position), has a debt-to-asset ratio of 0.1% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Spikenard Farm Inc's revenue has grown at a compound annual growth rate (CAGR) of 14.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +57.5% | -6.5% | +19.7% |
| 2022 | +32.3% | +7.1% | +2.3% |
| 2021 | +14.4% | +9.8% | -1.5% |
| 2020 | -5.8% | +7.4% | -2.2% |
| 2019 | -63.9% | +12.9% | +0.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2006 |
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 Spikenard Farm 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Spikenard 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.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $300K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.1%.
Executive Compensation Analysis
Spikenard Farm Inc consistently reports 0% officer compensation across all available filings, indicating that no salaries or other compensation are paid to its officers. This suggests a volunteer-driven leadership or a structure where executive roles are not compensated, which is highly favorable for directing resources to programs.
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 Spikenard Farm Inc's IRS 990 filings:
- Lack of detailed expense breakdown (program vs. admin vs. fundraising) in provided summary data, making precise efficiency analysis difficult.
Strengths
The following positive indicators were identified for Spikenard Farm Inc:
- Consistent asset growth, reaching $1,850,278 in 2023, indicating strong financial health.
- No reported officer compensation across all filings, suggesting high efficiency in leadership costs.
- Low liabilities relative to assets, with liabilities at $1,779 in 2023 compared to assets of $1,850,278, indicating strong financial stability.
- Positive net income in most recent years (e.g., $629,142 revenue vs. $328,715 expenses in 2023), demonstrating effective financial management.
- Significant revenue generation, with a peak of $776,087 in 2018 and strong performance in 2023.
Frequently Asked Questions about Spikenard Farm Inc
Is Spikenard Farm Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Spikenard Farm Inc (EIN: 205539746) some concerns. Mission Score: 90/100. 1 red flag identified, 5 strengths noted.
How does Spikenard Farm Inc spend its money?
Spikenard Farm Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Spikenard Farm Inc tax-deductible?
Spikenard Farm Inc is registered as a tax-exempt nonprofit (EIN: 205539746). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Spikenard Farm Inc a good charity?
Based on the provided data, Spikenard Farm Inc appears to be a good charity. It demonstrates strong financial health with consistent asset growth, positive net income in most years, and very low liabilities. The absence of officer compensation is a significant positive indicator of efficient resource allocation.
How has Spikenard Farm Inc's financial health changed over the last decade?
Spikenard Farm Inc's financial health has significantly improved over the last decade. Assets have grown from $477,120 in 2014 to $1,850,278 in 2023. Revenue has also shown substantial growth, with a notable peak of $776,087 in 2018 and $629,142 in 2023, while expenses have remained relatively controlled, leading to a strong financial position.
What is the trend in Spikenard Farm Inc's revenue and expenses?
Revenue for Spikenard Farm Inc has shown an upward trend with some fluctuations, notably increasing from $246,269 in 2014 to $629,142 in 2023. Expenses have also increased but at a slower rate, moving from $219,276 in 2014 to $328,715 in 2023, indicating a growing operational scale while maintaining a positive margin in most years.
Filing History
IRS 990 filing history for Spikenard Farm Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Spikenard Farm Inc's revenue has grown by 430.6%, moving from $119K to $629K. Total assets increased by 762.2% over the same period, from $215K to $1.9M. Total functional expenses rose by 125.9%, from $146K to $329K. In its most recent filing year (2023), Spikenard Farm Inc reported a surplus of $300K, with revenue exceeding expenses. The organization holds $2K in liabilities against $1.9M in assets (debt-to-asset ratio: 0.1%), resulting in net assets of $1.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $629K | $329K | $1.9M | $2K | — | — |
| 2022 | $400K | $352K | $1.5M | $2K | — | View 990 |
| 2021 | $302K | $328K | $1.5M | $6K | — | View 990 |
| 2020 | $264K | $299K | $1.5M | $4K | — | View 990 |
| 2019 | $280K | $278K | $1.6M | $4K | — | View 990 |
| 2018 | $776K | $247K | $1.6M | $5K | — | View 990 |
| 2017 | $287K | $225K | $1.0M | $727 | — | View 990 |
| 2016 | $382K | $220K | $974K | $1K | — | View 990 |
| 2015 | $550K | $210K | $816K | $6K | — | View 990 |
| 2014 | $246K | $219K | $477K | $6K | — | View 990 |
| 2013 | $355K | $236K | $457K | $13K | — | View 990 |
| 2012 | $288K | $171K | $313K | $6K | — | View 990 |
| 2011 | $119K | $146K | $215K | $469 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $629K, expenses of $329K, and assets of $1.9M (revenue +57.5% year-over-year).
- 2022: Revenue of $400K, expenses of $352K, and assets of $1.5M (revenue +32.3% year-over-year).
- 2021: Revenue of $302K, expenses of $328K, and assets of $1.5M (revenue +14.4% year-over-year).
- 2020: Revenue of $264K, expenses of $299K, and assets of $1.5M (revenue -5.8% year-over-year).
- 2019: Revenue of $280K, expenses of $278K, and assets of $1.6M (revenue -63.9% year-over-year).
- 2018: Revenue of $776K, expenses of $247K, and assets of $1.6M (revenue +170.6% year-over-year).
- 2017: Revenue of $287K, expenses of $225K, and assets of $1.0M (revenue -24.9% year-over-year).
- 2016: Revenue of $382K, expenses of $220K, and assets of $974K (revenue -30.5% year-over-year).
- 2015: Revenue of $550K, expenses of $210K, and assets of $816K (revenue +123.2% year-over-year).
- 2014: Revenue of $246K, expenses of $219K, and assets of $477K (revenue -30.5% year-over-year).
- 2013: Revenue of $355K, expenses of $236K, and assets of $457K (revenue +23.1% year-over-year).
- 2012: Revenue of $288K, expenses of $171K, and assets of $313K (revenue +142.9% year-over-year).
- 2011: Revenue of $119K, expenses of $146K, and assets of $215K.
Data Sources and Methodology
This transparency report for Spikenard 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.