Steep Rock Arts Association Co
Steep Rock Arts Association Co faces declining revenue and assets, with expenses exceeding income in recent years.
EIN: 203065933 · Greenwich, CT · NTEE: A90 · Updated: 2026-03-28
Is Steep Rock Arts Association Co Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Steep Rock Arts Association Co directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Steep Rock Arts Association Co
Steep Rock Arts Association Co (EIN: 203065933) is a nonprofit organization based in Greenwich, CT, classified under NTEE code A90. The organization reported total revenue of $10K and total assets of $16K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Steep Rock Arts Association Co's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Steep Rock Arts Association Co is a micro nonprofit that has been operating for 20 years, with 8 years of IRS 990 filings on record (2011–2022). Revenue has grown at a compound annual rate of -2.0%.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
| Total Revenue | $32K |
| Total Expenses | $41K |
| Surplus / Deficit | $-9,084 |
| Total Assets | $16K |
| Total Liabilities | $1 |
| Net Assets | $16K |
| Operating Margin | -28.4% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 4.5 months |
Financial Health Grade: B
In 2022, Steep Rock Arts Association Co reported a deficit of $9K with expenses exceeding revenue, holds 4.5 months of operating reserves (adequate), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 8 years of filings (2011–2022), Steep Rock Arts Association Co's revenue has declined at a compound annual growth rate (CAGR) of -2.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | -49.2% | -41.4% | -36.9% |
| 2021 | -49.2% | -29.1% | -22.5% |
| 2020 | +175.6% | +26.4% | +385.2% |
| 2015 | -60.1% | -15.7% | -83.5% |
| 2014 | -8.7% | -26.7% | +102.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2006 |
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 Steep Rock Arts Association Co with a Mission Score of 65 out of 100 (Good). 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, Steep Rock Arts Association Co 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 (2022)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $9K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Steep Rock Arts Association Co consistently reports 0% officer compensation across all available filings, indicating that executive leadership is likely unpaid or compensated through non-officer channels, which can contribute to higher program spending efficiency.
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 Steep Rock Arts Association Co's IRS 990 filings:
- Significant and consistent decline in revenue from $124,014 in 2020 to $32,000 in 2022.
- Expenses frequently exceed revenue, as seen in 2022 ($41,084 expenses vs. $32,000 revenue) and 2021 ($70,103 expenses vs. $62,950 revenue), indicating potential operational deficits.
- Declining asset base from $31,742 in 2020 to $15,505 in 2022, suggesting a reduction in financial reserves.
- Small asset base ($15,505 in 2022) relative to expenses, which could limit resilience during financial downturns.
Strengths
The following positive indicators were identified for Steep Rock Arts Association Co:
- Consistently reports minimal liabilities ($1), indicating a lack of significant debt.
- Reports 0% officer compensation across all filings, suggesting efficient use of funds by not paying top executives.
- Consistent filing history (8 filings) demonstrates transparency and compliance with IRS reporting requirements.
- Focus on arts and culture (NTEE A90) indicates a clear mission area.
Frequently Asked Questions about Steep Rock Arts Association Co
Is Steep Rock Arts Association Co a legitimate charity?
Based on AI analysis of IRS 990 filings, Steep Rock Arts Association Co (EIN: 203065933) some concerns. Mission Score: 65/100. 4 red flags identified, 4 strengths noted.
How does Steep Rock Arts Association Co spend its money?
Steep Rock Arts Association Co directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Steep Rock Arts Association Co tax-deductible?
Steep Rock Arts Association Co is registered as a tax-exempt nonprofit (EIN: 203065933). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Why has Steep Rock Arts Association Co's revenue declined significantly since 2020?
The organization's revenue dropped from $124,014 in 2020 to $32,000 in 2022, a decrease of over 74%. This significant decline warrants investigation into changes in funding sources, fundraising effectiveness, or program offerings.
How does Steep Rock Arts Association Co manage to operate with expenses frequently exceeding revenue?
In 2022, expenses were $41,084 against $32,000 in revenue, and similar trends are seen in 2021 and 2015. This suggests the organization is drawing down on its assets or relying on prior year surpluses, which is not sustainable long-term.
What is the breakdown of the organization's expenses, particularly between program, administrative, and fundraising costs?
Without detailed expense categories from the 990 filings, it's difficult to precisely determine the efficiency of spending. A general estimate based on typical small non-profits with no officer compensation is provided in the spending breakdown, but specific data would be more accurate.
What are the specific programs and activities Steep Rock Arts Association Co undertakes?
The NTEE code A90 indicates 'Arts & Culture, General,' but specific program details are not available from the provided financial data. Understanding their programs would help assess the impact of their spending.
Filing History
IRS 990 filing history for Steep Rock Arts Association Co showing financial trends over 8 years of public records:
Over 8 years of IRS 990 filings (2011–2022), Steep Rock Arts Association Co's revenue has declined by 19.7%, moving from $40K to $32K. Total assets increased by 63% over the same period, from $10K to $16K. Total functional expenses fell by 16.9%, from $49K to $41K. In its most recent filing year (2022), Steep Rock Arts Association Co reported a deficit of $9K, with expenses exceeding revenue. The organization holds $1 in liabilities against $16K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $16K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2022 | $32K | $41K | $16K | $1 | — | View 990 |
| 2021 | $63K | $70K | $25K | $1 | — | — |
| 2020 | $124K | $99K | $32K | $1 | — | — |
| 2015 | $45K | $78K | $7K | $1 | — | View 990 |
| 2014 | $113K | $93K | $40K | $1 | — | View 990 |
| 2013 | $124K | $127K | $20K | $1 | — | View 990 |
| 2012 | $76K | $63K | $23K | $1 | — | View 990 |
| 2011 | $40K | $49K | $10K | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2022: Revenue of $32K, expenses of $41K, and assets of $16K (revenue -49.2% year-over-year).
- 2021: Revenue of $63K, expenses of $70K, and assets of $25K (revenue -49.2% year-over-year).
- 2020: Revenue of $124K, expenses of $99K, and assets of $32K (revenue +175.6% year-over-year).
- 2015: Revenue of $45K, expenses of $78K, and assets of $7K (revenue -60.1% year-over-year).
- 2014: Revenue of $113K, expenses of $93K, and assets of $40K (revenue -8.7% year-over-year).
- 2013: Revenue of $124K, expenses of $127K, and assets of $20K (revenue +63.0% year-over-year).
- 2012: Revenue of $76K, expenses of $63K, and assets of $23K (revenue +90.3% year-over-year).
- 2011: Revenue of $40K, expenses of $49K, and assets of $10K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Steep Rock Arts Association Co:
Data Sources and Methodology
This transparency report for Steep Rock Arts Association Co 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.