Spring Lake Business Development Corporation
EIN: 261243759 · Spring Lake, NJ · NTEE: S22
| Metric | Value |
|---|---|
| Total Revenue | $160K |
| Total Expenses | $140K |
| Net Assets | $31K |
Is Spring Lake Business 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 Spring Lake Business Development Corporation
Spring Lake Business Development Corporation (EIN: 261243759) is a nonprofit organization based in Spring Lake, NJ, classified under NTEE code S22. The organization reported total revenue of $160K and total assets of $33K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Spring Lake Business Development Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Spring Lake Business Development Corporation is a small nonprofit that has been operating for 17 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 3.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $158K |
| Total Expenses | $140K |
| Surplus / Deficit | +$18K |
| Total Assets | $39K |
| Total Liabilities | $8K |
| Net Assets | $31K |
| Operating Margin | 11.5% |
| Debt-to-Asset Ratio | 19.9% |
| Months of Reserves | 3.4 months |
Financial Health Grade: A
In 2023, Spring Lake Business Development Corporation reported a surplus of $18K with revenue exceeding expenses, holds 3.4 months of operating reserves (adequate), has a debt-to-asset ratio of 19.9% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Spring Lake Business Development Corporation's revenue has grown at a compound annual growth rate (CAGR) of 3.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +34.6% | -1.0% | +34.6% |
| 2022 | +5.3% | +23.2% | -33.0% |
| 2021 | +5.1% | +15.4% | -8.7% |
| 2020 | -8.4% | -13.9% | +9.2% |
| 2019 | -0.9% | -7.4% | +7.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2009 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Spring Lake Business 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 Spring Lake Business 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 surplus of $18K, with revenue exceeding expenses.
- Debt-to-asset ratio: 19.9%.
Frequently Asked Questions about Spring Lake Business Development Corporation
Is Spring Lake Business Development Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Spring Lake Business Development Corporation (EIN: 261243759) insufficient data. 0 red flags identified, 0 strengths noted.
How does Spring Lake Business Development Corporation spend its money?
Detailed spending breakdown data is not yet available for Spring Lake Business Development Corporation. Check back for updated IRS 990 analysis.
Are donations to Spring Lake Business Development Corporation tax-deductible?
Spring Lake Business Development Corporation is registered as a tax-exempt nonprofit (EIN: 261243759). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Spring Lake Business Development Corporation located?
Spring Lake Business Development Corporation is headquartered in Spring Lake, New Jersey and files with the IRS under EIN 261243759. It is classified under NTEE code S22.
How many years of IRS 990 filings does Spring Lake Business Development Corporation have?
Spring Lake Business Development Corporation 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 $160K in total revenue.
Filing History
IRS 990 filing history for Spring Lake Business Development Corporation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Spring Lake Business Development Corporation's revenue has grown by 44.2%, moving from $110K to $158K. Total assets decreased by 31.5% over the same period, from $57K to $39K. Total functional expenses rose by 44.8%, from $96K to $140K. In its most recent filing year (2023), Spring Lake Business Development Corporation reported a surplus of $18K, with revenue exceeding expenses. The organization holds $8K in liabilities against $39K in assets (debt-to-asset ratio: 19.9%), resulting in net assets of $31K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $158K | $140K | $39K | $8K | — | View 990 |
| 2022 | $117K | $141K | $29K | $16K | — | View 990 |
| 2021 | $111K | $115K | $44K | $6K | — | View 990 |
| 2020 | $106K | $99K | $48K | $7K | — | View 990 |
| 2019 | $116K | $115K | $44K | $10K | — | View 990 |
| 2018 | $117K | $125K | $41K | $7K | — | View 990 |
| 2017 | $106K | $96K | $49K | $8K | — | View 990 |
| 2016 | $94K | $101K | $39K | $7K | — | View 990 |
| 2015 | $111K | $100K | $48K | $9K | — | View 990 |
| 2014 | $97K | $109K | $36K | $8K | — | View 990 |
| 2013 | $110K | $109K | $50K | $10K | — | View 990 |
| 2012 | $106K | $116K | $51K | $12K | — | View 990 |
| 2011 | $110K | $96K | $57K | $8K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $158K, expenses of $140K, and assets of $39K (revenue +34.6% year-over-year).
- 2022: Revenue of $117K, expenses of $141K, and assets of $29K (revenue +5.3% year-over-year).
- 2021: Revenue of $111K, expenses of $115K, and assets of $44K (revenue +5.1% year-over-year).
- 2020: Revenue of $106K, expenses of $99K, and assets of $48K (revenue -8.4% year-over-year).
- 2019: Revenue of $116K, expenses of $115K, and assets of $44K (revenue -0.9% year-over-year).
- 2018: Revenue of $117K, expenses of $125K, and assets of $41K (revenue +10.1% year-over-year).
- 2017: Revenue of $106K, expenses of $96K, and assets of $49K (revenue +12.7% year-over-year).
- 2016: Revenue of $94K, expenses of $101K, and assets of $39K (revenue -14.9% year-over-year).
- 2015: Revenue of $111K, expenses of $100K, and assets of $48K (revenue +14.5% year-over-year).
- 2014: Revenue of $97K, expenses of $109K, and assets of $36K (revenue -12.3% year-over-year).
- 2013: Revenue of $110K, expenses of $109K, and assets of $50K (revenue +4.1% year-over-year).
- 2012: Revenue of $106K, expenses of $116K, and assets of $51K (revenue -3.4% year-over-year).
- 2011: Revenue of $110K, expenses of $96K, and assets of $57K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Spring Lake Business Development Corporation:
Data Sources and Methodology
This transparency report for Spring Lake Business 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.