Spruce Street Golden Manor Inc
Spruce Street Golden Manor Inc. consistently operates at a deficit, drawing down assets to cover expenses.
EIN: 202017675 · Nashville, TN · NTEE: L21 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $206K |
| Total Expenses | $249K |
| Program Spending | 75% |
| CEO/Top Officer Pay | $200,000 |
| Net Assets | $1.9M |
| Transparency Score | 55/100 |
Is Spruce Street Golden Manor Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Spruce Street Golden Manor Inc directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Spruce Street Golden Manor Inc
Spruce Street Golden Manor Inc (EIN: 202017675) is a nonprofit organization based in Nashville, TN, classified under NTEE code L21. The organization reported total revenue of $206K and total assets of $1.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Spruce Street Golden Manor Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Spruce Street Golden Manor Inc is a small nonprofit that has been operating for 21 years, with 12 years of IRS 990 filings on record (2011–2022). Revenue has grown at a compound annual rate of 0.7%.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
| Total Revenue | $178K |
| Total Expenses | $249K |
| Surplus / Deficit | $-70,437 |
| Total Assets | $2.0M |
| Total Liabilities | $75K |
| Net Assets | $1.9M |
| Operating Margin | -39.6% |
| Debt-to-Asset Ratio | 3.8% |
| Months of Reserves | 95.8 months |
Financial Health Grade: B
In 2022, Spruce Street Golden Manor Inc reported a deficit of $70K with expenses exceeding revenue, holds 95.8 months of operating reserves (strong position), has a debt-to-asset ratio of 3.8% (very low leverage).
Financial Trends
Over 12 years of filings (2011–2022), Spruce Street Golden Manor Inc's revenue has grown at a compound annual growth rate (CAGR) of 0.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | -8.3% | -1.8% | -2.2% |
| 2021 | +4.0% | +7.2% | -2.9% |
| 2020 | +5.9% | -2.2% | -2.4% |
| 2019 | +2.1% | +9.8% | -2.3% |
| 2018 | +0.4% | -1.3% | -1.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2005 |
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 Spruce Street Golden Manor Inc with a Mission Score of 55 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, Spruce Street Golden Manor Inc 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 (2022)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $70K, with expenses exceeding revenue.
- Debt-to-asset ratio: 3.8%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that the organization's leadership is either unpaid or compensated through other means not categorized as officer compensation, which is highly unusual for an organization with over $200,000 in annual revenue and nearly $2 million in assets.
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 Spruce Street Golden Manor Inc's IRS 990 filings:
- Consistent operational deficits for over a decade (e.g., $70,437 deficit in 2022).
- Declining asset base over time, indicating unsustainable spending (assets decreased by over $468,000 from 2013 to 2022).
- Unusually low or zero reported officer compensation for an organization of this size, which could indicate compensation is reported in other categories or that leadership is entirely volunteer, which may not be sustainable.
Strengths
The following positive indicators were identified for Spruce Street Golden Manor Inc:
- Consistent filing of IRS 990 forms, indicating transparency.
- Serves a critical community need (Housing for the Elderly, NTEE L21).
- No reported officer compensation, suggesting a commitment to minimizing administrative overhead in that specific area.
Frequently Asked Questions about Spruce Street Golden Manor Inc
Is Spruce Street Golden Manor Inc a legitimate charity?
Spruce Street Golden Manor Inc (EIN: 202017675) is a registered tax-exempt nonprofit based in Tennessee. Our AI analysis gives it a Mission Score of 55/100. It has 12 years of IRS 990 filings on record. Total revenue: $206K. 3 red flags identified. 3 strengths noted. Financial health grade: B.
How does Spruce Street Golden Manor Inc spend its money?
Spruce Street Golden Manor Inc directs 75% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Spruce Street Golden Manor Inc tax-deductible?
Spruce Street Golden Manor Inc is registered as a tax-exempt nonprofit (EIN: 202017675). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Spruce Street Golden Manor Inc CEO make?
Spruce Street Golden Manor Inc's highest-compensated officer earns $200,000 annually. The organization reported $206K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Spruce Street Golden Manor Inc's spending goes to programs?
Spruce Street Golden Manor Inc directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Spruce Street Golden Manor Inc compare to similar nonprofits?
With a transparency score of 55/100 (Fair), Spruce Street Golden Manor Inc is near average for NTEE category L21 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Spruce Street Golden Manor Inc located?
Spruce Street Golden Manor Inc is headquartered in Nashville, Tennessee and files with the IRS under EIN 202017675. It is classified under NTEE code L21.
How many years of IRS 990 filings does Spruce Street Golden Manor Inc have?
Spruce Street Golden Manor Inc has 12 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 $206K in total revenue.
Is Spruce Street Golden Manor Inc. a good charity?
While the organization serves a critical need (housing for the elderly) and reports no officer compensation, its consistent operational deficits and declining assets raise concerns about its long-term financial viability and ability to sustain its mission without significant changes to its financial model.
Why are assets declining?
Assets are declining because the organization's expenses have consistently exceeded its revenues for at least the past decade. For instance, in 2022, expenses were $248,510 while revenue was $178,073, meaning the organization spent $70,437 more than it earned, likely drawing from its asset base.
What is the organization's primary financial challenge?
The primary financial challenge is the persistent operational deficit, where annual expenses consistently outstrip revenue. This trend, evident in every filing from 2013 to 2022, is unsustainable and leads to a depletion of the organization's asset base.
How does the organization cover its deficits?
Based on the declining asset trend, the organization appears to be covering its annual deficits by drawing down its accumulated assets. For example, total assets decreased from $2,452,491 in 2013 to $1,984,009 in 2022.
Filing History
IRS 990 filing history for Spruce Street Golden Manor Inc showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2011–2022), Spruce Street Golden Manor Inc's revenue has grown by 8.1%, moving from $165K to $178K. Total assets decreased by 21.9% over the same period, from $2.5M to $2.0M. Total functional expenses rose by 12.1%, from $222K to $249K. In its most recent filing year (2022), Spruce Street Golden Manor Inc reported a deficit of $70K, with expenses exceeding revenue. The organization holds $75K in liabilities against $2.0M in assets (debt-to-asset ratio: 3.8%), resulting in net assets of $1.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2022 | $178K | $249K | $2.0M | $75K | — | View 990 |
| 2021 | $194K | $253K | $2.0M | $51K | — | View 990 |
| 2020 | $187K | $236K | $2.1M | $50K | — | View 990 |
| 2019 | $176K | $241K | $2.1M | $52K | — | View 990 |
| 2018 | $173K | $220K | $2.2M | $38K | — | View 990 |
| 2017 | $172K | $223K | $2.2M | $42K | — | View 990 |
| 2016 | $160K | $233K | $2.3M | $53K | — | View 990 |
| 2015 | $163K | $216K | $2.3M | $40K | — | View 990 |
| 2014 | $166K | $208K | $2.4M | $40K | — | View 990 |
| 2013 | $159K | $201K | $2.5M | $49K | — | View 990 |
| 2012 | $164K | $203K | $2.5M | $49K | — | View 990 |
| 2011 | $165K | $222K | $2.5M | $43K | — | View 990 |
Year-by-Year Financial Summary
- 2022: Revenue of $178K, expenses of $249K, and assets of $2.0M (revenue -8.3% year-over-year).
- 2021: Revenue of $194K, expenses of $253K, and assets of $2.0M (revenue +4.0% year-over-year).
- 2020: Revenue of $187K, expenses of $236K, and assets of $2.1M (revenue +5.9% year-over-year).
- 2019: Revenue of $176K, expenses of $241K, and assets of $2.1M (revenue +2.1% year-over-year).
- 2018: Revenue of $173K, expenses of $220K, and assets of $2.2M (revenue +0.4% year-over-year).
- 2017: Revenue of $172K, expenses of $223K, and assets of $2.2M (revenue +7.4% year-over-year).
- 2016: Revenue of $160K, expenses of $233K, and assets of $2.3M (revenue -2.1% year-over-year).
- 2015: Revenue of $163K, expenses of $216K, and assets of $2.3M (revenue -1.5% year-over-year).
- 2014: Revenue of $166K, expenses of $208K, and assets of $2.4M (revenue +4.5% year-over-year).
- 2013: Revenue of $159K, expenses of $201K, and assets of $2.5M (revenue -3.0% year-over-year).
- 2012: Revenue of $164K, expenses of $203K, and assets of $2.5M (revenue -0.6% year-over-year).
- 2011: Revenue of $165K, expenses of $222K, and assets of $2.5M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Spruce Street Golden Manor Inc:
Data Sources and Methodology
This transparency report for Spruce Street Golden Manor 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.