Spiritworks Foundation
Spiritworks Foundation experiences fluctuating revenues and expenses, with recent filings showing a deficit and declining assets, but maintains 0% officer compensation.
EIN: 202129080 · Williamsburg, VA · NTEE: F20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $240K |
| Total Expenses | $288K |
| Program Spending | 80% |
| Net Assets | $63K |
| Transparency Score | 85/100 |
Is Spiritworks Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Spiritworks Foundation directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Spiritworks Foundation
Spiritworks Foundation (EIN: 202129080) is a nonprofit organization based in Williamsburg, VA, classified under NTEE code F20. The organization reported total revenue of $240K and total assets of $38K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Spiritworks Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Spiritworks Foundation is a small nonprofit that has been operating for 11 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 2.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $219K |
| Total Expenses | $288K |
| Surplus / Deficit | $-69,430 |
| Total Assets | $64K |
| Total Liabilities | $1K |
| Net Assets | $63K |
| Operating Margin | -31.7% |
| Debt-to-Asset Ratio | 1.6% |
| Months of Reserves | 2.7 months |
Financial Health Grade: C
In 2023, Spiritworks Foundation reported a deficit of $69K with expenses exceeding revenue, holds 2.7 months of operating reserves (limited), has a debt-to-asset ratio of 1.6% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Spiritworks Foundation's revenue has grown at a compound annual growth rate (CAGR) of 2.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -31.1% | -8.5% | -51.5% |
| 2022 | -1.4% | +5.4% | +1.9% |
| 2021 | +45.3% | +5.2% | -2.5% |
| 2020 | -41.1% | -9.8% | -21.2% |
| 2019 | +23.7% | +37.3% | +56.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2015 |
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 Spiritworks Foundation with a Mission Score of 85 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Spiritworks Foundation allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% 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 $69K, with expenses exceeding revenue.
- Debt-to-asset ratio: 1.6%.
Executive Compensation Analysis
Executive compensation has consistently been reported as 0% across all available filings, indicating that no officers receive salaries from the organization. This is a strong positive for a nonprofit of its size, suggesting a high dedication of resources to its mission rather than administrative overhead.
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 Spiritworks Foundation's IRS 990 filings:
- Expenses exceeded revenue in the most recent filing (202312), leading to a significant decrease in assets.
- Fluctuating revenue streams and occasional deficits could pose long-term financial stability challenges if not managed effectively.
Strengths
The following positive indicators were identified for Spiritworks Foundation:
- Consistent 0% officer compensation across all filings, indicating high efficiency and dedication to mission.
- Long operational history with 13 IRS 990 filings, demonstrating sustained commitment.
- Ability to recover from previous periods of deficit spending, as seen in earlier financial cycles.
Frequently Asked Questions about Spiritworks Foundation
Is Spiritworks Foundation a legitimate charity?
Spiritworks Foundation (EIN: 202129080) is a registered tax-exempt nonprofit based in Virginia. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $240K. 2 red flags identified. 3 strengths noted. Financial health grade: C.
How does Spiritworks Foundation spend its money?
Spiritworks Foundation directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Spiritworks Foundation tax-deductible?
Spiritworks Foundation is registered as a tax-exempt nonprofit (EIN: 202129080). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Spiritworks Foundation's spending goes to programs?
Spiritworks Foundation directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Spiritworks Foundation compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Spiritworks Foundation is above average for NTEE category F20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Spiritworks Foundation located?
Spiritworks Foundation is headquartered in Williamsburg, Virginia and files with the IRS under EIN 202129080. It is classified under NTEE code F20.
How many years of IRS 990 filings does Spiritworks Foundation have?
Spiritworks Foundation has 13 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 $240K in total revenue.
Is Spiritworks Foundation a good charity?
Spiritworks Foundation appears to be a good charity, particularly due to its consistent reporting of 0% officer compensation, indicating a strong commitment to program spending. While it has experienced periods where expenses exceeded revenue, its long history of operation and consistent program focus suggest effective use of funds.
What caused the significant drop in assets from 2022 to 2023?
The significant drop in assets from $132,859 in 2022 to $64,447 in 2023 is primarily due to expenses ($288,141) exceeding revenue ($218,711) by approximately $69,430 in the 2023 fiscal period. This deficit spending likely drew down the organization's reserves.
How does Spiritworks Foundation manage its financial stability given revenue fluctuations?
Spiritworks Foundation manages its financial stability by maintaining a relatively lean operation, as evidenced by its low asset base and 0% officer compensation. While revenue fluctuates, the organization has historically managed to cover its expenses, though the 2023 deficit suggests a need for careful financial planning to rebuild reserves.
Filing History
IRS 990 filing history for Spiritworks Foundation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Spiritworks Foundation's revenue has grown by 27.8%, moving from $171K to $219K. Total assets increased by 111% over the same period, from $31K to $64K. Total functional expenses rose by 68.7%, from $171K to $288K. In its most recent filing year (2023), Spiritworks Foundation reported a deficit of $69K, with expenses exceeding revenue. The organization holds $1K in liabilities against $64K in assets (debt-to-asset ratio: 1.6%), resulting in net assets of $63K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $219K | $288K | $64K | $1K | — | — |
| 2022 | $317K | $315K | $133K | $0 | — | View 990 |
| 2021 | $322K | $299K | $130K | $0 | — | View 990 |
| 2020 | $222K | $284K | $134K | $26K | — | — |
| 2019 | $376K | $315K | $170K | $0 | — | View 990 |
| 2018 | $304K | $229K | $108K | $0 | — | View 990 |
| 2017 | $157K | $149K | $33K | $0 | — | View 990 |
| 2016 | $141K | $149K | $25K | $0 | — | View 990 |
| 2015 | $144K | $145K | $33K | $0 | — | View 990 |
| 2014 | $140K | $132K | $35K | $0 | — | View 990 |
| 2013 | $160K | $157K | $28K | $875 | — | — |
| 2012 | $163K | $167K | $26K | $875 | — | — |
| 2011 | $171K | $171K | $31K | $1K | — | — |
Year-by-Year Financial Summary
- 2023: Revenue of $219K, expenses of $288K, and assets of $64K (revenue -31.1% year-over-year).
- 2022: Revenue of $317K, expenses of $315K, and assets of $133K (revenue -1.4% year-over-year).
- 2021: Revenue of $322K, expenses of $299K, and assets of $130K (revenue +45.3% year-over-year).
- 2020: Revenue of $222K, expenses of $284K, and assets of $134K (revenue -41.1% year-over-year).
- 2019: Revenue of $376K, expenses of $315K, and assets of $170K (revenue +23.7% year-over-year).
- 2018: Revenue of $304K, expenses of $229K, and assets of $108K (revenue +93.1% year-over-year).
- 2017: Revenue of $157K, expenses of $149K, and assets of $33K (revenue +11.5% year-over-year).
- 2016: Revenue of $141K, expenses of $149K, and assets of $25K (revenue -1.6% year-over-year).
- 2015: Revenue of $144K, expenses of $145K, and assets of $33K (revenue +2.7% year-over-year).
- 2014: Revenue of $140K, expenses of $132K, and assets of $35K (revenue -12.6% year-over-year).
- 2013: Revenue of $160K, expenses of $157K, and assets of $28K (revenue -1.7% year-over-year).
- 2012: Revenue of $163K, expenses of $167K, and assets of $26K (revenue -5.0% year-over-year).
- 2011: Revenue of $171K, expenses of $171K, and assets of $31K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Spiritworks Foundation:
Data Sources and Methodology
This transparency report for Spiritworks Foundation 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.