St Michaels Redevelopment Corporation
St Michaels Redevelopment Corporation consistently operates at a significant deficit, with minimal revenue failing to cover expenses.
EIN: 205120614 · St Michaels, MD · NTEE: L20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $281K |
| Total Expenses | $30K |
| Program Spending | 70% |
| Net Assets | $142K |
| Transparency Score | 45/100 |
Is St Michaels Redevelopment Corporation Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
St Michaels Redevelopment Corporation directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About St Michaels Redevelopment Corporation
St Michaels Redevelopment Corporation (EIN: 205120614) is a nonprofit organization based in St Michaels, MD, classified under NTEE code L20. The organization reported total revenue of $281K and total assets of $351K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of St Michaels Redevelopment Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
St Michaels Redevelopment Corporation is a small nonprofit that has been operating for 4 years, with 4 years of IRS 990 filings on record (2020–2023). Revenue has grown at a compound annual rate of -15.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $30 |
| Total Expenses | $30K |
| Surplus / Deficit | $-29,999 |
| Total Assets | $243K |
| Total Liabilities | $101K |
| Net Assets | $142K |
| Operating Margin | -99996.7% |
| Debt-to-Asset Ratio | 41.6% |
| Months of Reserves | 96.9 months |
Financial Health Grade: B
In 2023, St Michaels Redevelopment Corporation reported a deficit of $30K with expenses exceeding revenue, holds 96.9 months of operating reserves (strong position), has a debt-to-asset ratio of 41.6% (moderate leverage).
Financial Trends
Over 4 years of filings (2020–2023), St Michaels Redevelopment Corporation's revenue has declined at a compound annual growth rate (CAGR) of -15.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -14.3% | +272.4% | -11.0% |
| 2022 | -12.5% | -42.9% | -2.8% |
| 2021 | -20.0% | +261.8% | -4.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2022 |
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 St Michaels Redevelopment Corporation 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: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, St Michaels Redevelopment Corporation allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $30K, with expenses exceeding revenue.
- Debt-to-asset ratio: 41.6%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers received compensation, which is a positive sign for resource allocation directly to the mission.
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 St Michaels Redevelopment Corporation's IRS 990 filings:
- Consistently low revenue relative to expenses (e.g., $30 revenue vs. $30,029 expenses in 2023).
- Persistent operating deficits across all reported periods.
- Declining asset base over the past four years ($294,427 in 2020 to $242,537 in 2023).
- High expense-to-revenue ratio, indicating potential financial instability.
Strengths
The following positive indicators were identified for St Michaels Redevelopment Corporation:
- 0% officer compensation reported, indicating no executive pay from the organization.
- Consistent filing of IRS Form 990, demonstrating a commitment to transparency in reporting.
Frequently Asked Questions about St Michaels Redevelopment Corporation
Is St Michaels Redevelopment Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, St Michaels Redevelopment Corporation (EIN: 205120614) significant concerns. Mission Score: 45/100. 4 red flags identified, 2 strengths noted.
How does St Michaels Redevelopment Corporation spend its money?
St Michaels Redevelopment Corporation directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to St Michaels Redevelopment Corporation tax-deductible?
St Michaels Redevelopment Corporation is registered as a tax-exempt nonprofit (EIN: 205120614). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of St Michaels Redevelopment Corporation's spending goes to programs?
St Michaels Redevelopment Corporation directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
How does St Michaels Redevelopment Corporation compare to similar nonprofits?
With a transparency score of 45/100 (Fair), St Michaels Redevelopment Corporation is near average for NTEE category L20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is St Michaels Redevelopment Corporation located?
St Michaels Redevelopment Corporation is headquartered in St Michaels, Maryland and files with the IRS under EIN 205120614. It is classified under NTEE code L20.
How many years of IRS 990 filings does St Michaels Redevelopment Corporation have?
St Michaels Redevelopment Corporation has 4 years of IRS 990 filings on record at NonprofitSpending. Additional filing years may become available as the IRS releases new data. The most recent filing shows $281K in total revenue.
How does St Michaels Redevelopment Corporation fund its operations given its consistently low reported revenue?
The filings show revenue consistently in the double digits (e.g., $30 in 2023) while expenses are in the thousands (e.g., $30,029 in 2023). This suggests the organization is either heavily reliant on non-cash contributions not fully reflected as revenue, drawing down on prior reserves, or has other funding mechanisms not clearly detailed in the summary data provided.
What specific redevelopment projects has the organization undertaken with such limited reported financial activity?
Given the NTEE code L20 (Housing Development, Construction & Management) and the minimal reported revenue, it's unclear how significant or numerous their redevelopment projects could be. The financial data doesn't support large-scale construction or management activities typically associated with this mission.
What is the long-term sustainability plan for St Michaels Redevelopment Corporation given its declining assets and persistent operating deficits?
With assets decreasing from $294,427 in 2020 to $242,537 in 2023, and expenses consistently exceeding revenue, the organization appears to be liquidating assets or relying on a diminishing reserve. A clear strategy for increasing sustainable revenue or significantly reducing expenses would be critical for its future.
Filing History
IRS 990 filing history for St Michaels Redevelopment Corporation showing financial trends over 4 years of public records:
Over 4 years of IRS 990 filings (2020–2023), St Michaels Redevelopment Corporation's revenue has declined by 40%, moving from $50 to $30. Total assets decreased by 17.6% over the same period, from $294K to $243K. Total functional expenses rose by 669.4%, from $4K to $30K. In its most recent filing year (2023), St Michaels Redevelopment Corporation reported a deficit of $30K, with expenses exceeding revenue. The organization holds $101K in liabilities against $243K in assets (debt-to-asset ratio: 41.6%), resulting in net assets of $142K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $30 | $30K | $243K | $101K | — | — |
| 2022 | $35 | $8K | $272K | $101K | — | View 990 |
| 2021 | $40 | $14K | $280K | $101K | — | View 990 |
| 2020 | $50 | $4K | $294K | $101K | — | — |
Year-by-Year Financial Summary
- 2023: Revenue of $30, expenses of $30K, and assets of $243K (revenue -14.3% year-over-year).
- 2022: Revenue of $35, expenses of $8K, and assets of $272K (revenue -12.5% year-over-year).
- 2021: Revenue of $40, expenses of $14K, and assets of $280K (revenue -20.0% year-over-year).
- 2020: Revenue of $50, expenses of $4K, and assets of $294K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for St Michaels Redevelopment Corporation:
Data Sources and Methodology
This transparency report for St Michaels Redevelopment 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.