Summerplace Residences Of Frederick Inc
EIN: 521352888 · Frederick, MD
| Metric | Value |
|---|---|
| Total Revenue | $150K |
| Total Expenses | $115K |
| Net Assets | $95K |
Is Summerplace Residences Of Frederick Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Summerplace Residences Of Frederick Inc
Summerplace Residences Of Frederick Inc (EIN: 521352888) is a nonprofit organization based in Frederick, MD. The organization reported total revenue of $150K and total assets of $219K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Summerplace Residences Of Frederick Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Summerplace Residences Of Frederick Inc is a small nonprofit that has been operating for 42 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -0.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $144K |
| Total Expenses | $115K |
| Surplus / Deficit | +$29K |
| Total Assets | $235K |
| Total Liabilities | $140K |
| Net Assets | $95K |
| Operating Margin | 20.0% |
| Debt-to-Asset Ratio | 59.5% |
| Months of Reserves | 24.4 months |
Financial Health Grade: A
In 2023, Summerplace Residences Of Frederick Inc reported a surplus of $29K with revenue exceeding expenses, holds 24.4 months of operating reserves (strong position), has a debt-to-asset ratio of 59.5% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Summerplace Residences Of Frederick Inc's revenue has declined at a compound annual growth rate (CAGR) of -0.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +3.6% | +10.0% | +6.6% |
| 2022 | -0.5% | -3.0% | -0.7% |
| 2021 | +6.9% | -1.4% | -2.8% |
| 2020 | -2.2% | -4.7% | -2.2% |
| 2019 | -3.4% | -4.0% | -3.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1984 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Summerplace Residences Of Frederick Inc 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 Summerplace Residences Of Frederick Inc 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 $29K, with revenue exceeding expenses.
- Debt-to-asset ratio: 59.5%.
Frequently Asked Questions about Summerplace Residences Of Frederick Inc
Is Summerplace Residences Of Frederick Inc a legitimate charity?
Summerplace Residences Of Frederick Inc (EIN: 521352888) is a registered tax-exempt nonprofit based in Maryland. It has 13 years of IRS 990 filings on record. Total revenue: $150K. No red flags identified. Financial health grade: A.
How does Summerplace Residences Of Frederick Inc spend its money?
Summerplace Residences Of Frederick Inc reported $150K in total revenue in IRS 990 filings. 13 years of filing data available. Revenue exceeded expenses in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Summerplace Residences Of Frederick Inc tax-deductible?
Summerplace Residences Of Frederick Inc is registered as a tax-exempt nonprofit (EIN: 521352888). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Summerplace Residences Of Frederick Inc located?
Summerplace Residences Of Frederick Inc is headquartered in Frederick, Maryland and files with the IRS under EIN 521352888.
How many years of IRS 990 filings does Summerplace Residences Of Frederick Inc have?
Summerplace Residences Of Frederick Inc 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 $150K in total revenue.
Filing History
IRS 990 filing history for Summerplace Residences Of Frederick Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Summerplace Residences Of Frederick Inc's revenue has declined by 1.2%, moving from $146K to $144K. Total assets decreased by 32.4% over the same period, from $347K to $235K. Total functional expenses fell by 22.1%, from $148K to $115K. In its most recent filing year (2023), Summerplace Residences Of Frederick Inc reported a surplus of $29K, with revenue exceeding expenses. The organization holds $140K in liabilities against $235K in assets (debt-to-asset ratio: 59.5%), resulting in net assets of $95K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $144K | $115K | $235K | $140K | — | View 990 |
| 2022 | $139K | $105K | $220K | $154K | — | View 990 |
| 2021 | $140K | $108K | $222K | $190K | — | View 990 |
| 2020 | $131K | $110K | $228K | $228K | — | — |
| 2019 | $134K | $115K | $233K | $254K | — | View 990 |
| 2018 | $138K | $120K | $241K | $272K | — | View 990 |
| 2017 | $127K | $121K | $254K | $305K | — | View 990 |
| 2016 | $126K | $124K | $276K | $333K | — | View 990 |
| 2015 | $135K | $128K | $279K | $339K | — | View 990 |
| 2014 | $131K | $132K | $291K | $358K | — | View 990 |
| 2013 | $123K | $130K | $306K | $373K | — | View 990 |
| 2012 | $123K | $129K | $328K | $387K | — | View 990 |
| 2011 | $146K | $148K | $347K | $401K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $144K, expenses of $115K, and assets of $235K (revenue +3.6% year-over-year).
- 2022: Revenue of $139K, expenses of $105K, and assets of $220K (revenue -0.5% year-over-year).
- 2021: Revenue of $140K, expenses of $108K, and assets of $222K (revenue +6.9% year-over-year).
- 2020: Revenue of $131K, expenses of $110K, and assets of $228K (revenue -2.2% year-over-year).
- 2019: Revenue of $134K, expenses of $115K, and assets of $233K (revenue -3.4% year-over-year).
- 2018: Revenue of $138K, expenses of $120K, and assets of $241K (revenue +9.0% year-over-year).
- 2017: Revenue of $127K, expenses of $121K, and assets of $254K (revenue +0.9% year-over-year).
- 2016: Revenue of $126K, expenses of $124K, and assets of $276K (revenue -6.9% year-over-year).
- 2015: Revenue of $135K, expenses of $128K, and assets of $279K (revenue +3.5% year-over-year).
- 2014: Revenue of $131K, expenses of $132K, and assets of $291K (revenue +5.9% year-over-year).
- 2013: Revenue of $123K, expenses of $130K, and assets of $306K (revenue +0.2% year-over-year).
- 2012: Revenue of $123K, expenses of $129K, and assets of $328K (revenue -15.6% year-over-year).
- 2011: Revenue of $146K, expenses of $148K, and assets of $347K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Summerplace Residences Of Frederick Inc:
Data Sources and Methodology
This transparency report for Summerplace Residences Of Frederick 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.