Spiralis Music Tr
Spiralis Music Tr consistently operates at a significant deficit, drawing down assets to cover expenses.
EIN: 116588142 · Fairfield, CT · NTEE: T20 · Updated: 2026-03-28
Is Spiralis Music Tr Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Spiralis Music Tr directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Spiralis Music Tr
Spiralis Music Tr (EIN: 116588142) is a nonprofit organization based in Fairfield, CT, classified under NTEE code T20. The organization reported total revenue of $231K and total assets of $265K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Spiralis Music Tr's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Spiralis Music Tr is a small nonprofit that has been operating for 22 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -43.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $32 |
| Total Expenses | $112K |
| Surplus / Deficit | $-112,169 |
| Total Assets | $375K |
| Total Liabilities | $1 |
| Net Assets | $375K |
| Operating Margin | -350528.1% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 40.1 months |
Financial Health Grade: B
In 2023, Spiralis Music Tr reported a deficit of $112K with expenses exceeding revenue, holds 40.1 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Spiralis Music Tr's revenue has declined at a compound annual growth rate (CAGR) of -43.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -99.9% | +146.2% | -16.0% |
| 2022 | -42.7% | -3.5% | -18.9% |
| 2021 | -1.2% | -66.7% | +50.6% |
| 2020 | +6.7% | +31.4% | -41.6% |
| 2019 | +76.8% | +60.0% | +0.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2004 |
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 Spiralis Music Tr with a Mission Score of 45 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Spiralis Music Tr allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% 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 $112K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating a volunteer-led organization or that key personnel are not compensated, which is positive for minimizing administrative overhead relative to the organization's size and revenue.
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 Spiralis Music Tr's IRS 990 filings:
- Consistent and significant deficit spending (e.g., 2023 revenue $32 vs. expenses $112,201)
- Declining asset base over the past decade (from $692,751 in 2011 to $375,056 in 2023)
- Revenue generation is consistently insufficient to cover operational expenses
- Lack of clear explanation in filings for persistent revenue-expense imbalance
Strengths
The following positive indicators were identified for Spiralis Music Tr:
- No reported officer compensation, indicating a volunteer-driven or very lean administrative structure
- Low liabilities across most years (e.g., $1 in 2023, 2022, 2021, 2020)
- Consistent filing of IRS Form 990s, demonstrating transparency in reporting
Frequently Asked Questions about Spiralis Music Tr
Is Spiralis Music Tr a legitimate charity?
Based on AI analysis of IRS 990 filings, Spiralis Music Tr (EIN: 116588142) significant concerns. Mission Score: 45/100. 4 red flags identified, 3 strengths noted.
How does Spiralis Music Tr spend its money?
Spiralis Music Tr directs 75% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Spiralis Music Tr tax-deductible?
Spiralis Music Tr is registered as a tax-exempt nonprofit (EIN: 116588142). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Spiralis Music Tr financially sustainable?
Based on the consistent and significant deficits (e.g., $32 revenue vs. $112,201 expenses in 2023), the organization's current financial model appears unsustainable without drawing down its asset base, which has declined from $692,751 in 2011 to $375,056 in 2023.
Why is there such a large discrepancy between revenue and expenses?
The filings consistently show expenses far exceeding revenue (e.g., 2023: $32 revenue, $112,201 expenses; 2020: $58,325 revenue, $141,530 expenses). The IRS 990 data alone does not provide a detailed explanation for this persistent gap, but it suggests either a reliance on past reserves, significant non-cash expenses, or a need for substantial new funding sources.
What is the trend of the organization's assets?
The organization's assets have shown a consistent downward trend, decreasing from $692,751 in 2011 to $375,056 in 2023, indicating that the organization is likely using its reserves to cover operational shortfalls.
Filing History
IRS 990 filing history for Spiralis Music Tr showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Spiralis Music Tr's revenue has declined by 99.9%, moving from $27K to $32. Total assets decreased by 45.9% over the same period, from $693K to $375K. Total functional expenses rose by 89.9%, from $59K to $112K. In its most recent filing year (2023), Spiralis Music Tr reported a deficit of $112K, with expenses exceeding revenue. The organization holds $1 in liabilities against $375K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $375K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $32 | $112K | $375K | $1 | — | — |
| 2022 | $33K | $46K | $446K | $1 | — | View 990 |
| 2021 | $58K | $47K | $550K | $1 | — | — |
| 2020 | $58K | $142K | $365K | $1 | — | — |
| 2019 | $55K | $108K | $626K | $320K | — | — |
| 2015 | $31K | $67K | $622K | $153K | — | View 990 |
| 2014 | $56K | $82K | $660K | $154K | — | View 990 |
| 2013 | $79K | $80K | $668K | $137K | — | View 990 |
| 2012 | $44K | $62K | $676K | $143K | — | View 990 |
| 2011 | $27K | $59K | $693K | $161K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $32, expenses of $112K, and assets of $375K (revenue -99.9% year-over-year).
- 2022: Revenue of $33K, expenses of $46K, and assets of $446K (revenue -42.7% year-over-year).
- 2021: Revenue of $58K, expenses of $47K, and assets of $550K (revenue -1.2% year-over-year).
- 2020: Revenue of $58K, expenses of $142K, and assets of $365K (revenue +6.7% year-over-year).
- 2019: Revenue of $55K, expenses of $108K, and assets of $626K (revenue +76.8% year-over-year).
- 2015: Revenue of $31K, expenses of $67K, and assets of $622K (revenue -45.1% year-over-year).
- 2014: Revenue of $56K, expenses of $82K, and assets of $660K (revenue -28.9% year-over-year).
- 2013: Revenue of $79K, expenses of $80K, and assets of $668K (revenue +79.8% year-over-year).
- 2012: Revenue of $44K, expenses of $62K, and assets of $676K (revenue +61.5% year-over-year).
- 2011: Revenue of $27K, expenses of $59K, and assets of $693K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Spiralis Music Tr:
Data Sources and Methodology
This transparency report for Spiralis Music Tr 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.