Surgical Review Corporation
Surgical Review Corporation shows consistent revenue growth but persistent negative net assets.
EIN: 200472961 · Raleigh, NC · NTEE: E05 · Updated: 2026-03-28
Is Surgical Review Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Surgical Review Corporation directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Surgical Review Corporation
Surgical Review Corporation (EIN: 200472961) is a nonprofit organization based in Raleigh, NC, classified under NTEE code E05. The organization reported total revenue of $5.8M and total assets of $170K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Surgical Review Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Surgical Review Corporation is a mid-size nonprofit that has been operating for 22 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 0.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $5.0M |
| Total Expenses | $4.8M |
| Surplus / Deficit | +$230K |
| Total Assets | $86K |
| Total Liabilities | $390K |
| Net Assets | $-304,082 |
| Operating Margin | 4.6% |
| Debt-to-Asset Ratio | 453.2% |
| Months of Reserves | 0.2 months |
Financial Health Grade: B
In 2023, Surgical Review Corporation reported a surplus of $230K with revenue exceeding expenses, holds 0.2 months of operating reserves (limited), has a debt-to-asset ratio of 453.2% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Surgical Review Corporation's revenue has grown at a compound annual growth rate (CAGR) of 0.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +24.4% | +12.7% | +912.8% |
| 2022 | +15.4% | +21.2% | -95.8% |
| 2021 | +15.1% | +25.9% | -9.4% |
| 2020 | +16.6% | +6.7% | +1395.9% |
| 2019 | +23.8% | +46.8% | -53.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2004 |
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 Surgical Review Corporation 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: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Surgical Review 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 surplus of $230K, with revenue exceeding expenses.
- Debt-to-asset ratio: 453.2%.
Executive Compensation Analysis
Surgical Review Corporation consistently reports 0% officer compensation across all available filings, which is a strong indicator of fiscal prudence regarding executive salaries relative to the organization's size and revenue, or suggests that executive compensation is not categorized as 'officer compensation' in these filings.
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 Surgical Review Corporation's IRS 990 filings:
- Persistent negative net assets (e.g., $86,086 assets vs. $390,168 liabilities in 2023)
- High liabilities relative to assets across multiple years
- Unusually low asset base despite significant revenue growth
Strengths
The following positive indicators were identified for Surgical Review Corporation:
- Consistent revenue growth over the past decade (from $492,244 in 2014 to $5,005,574 in 2023)
- Consistent reporting of 0% officer compensation, indicating potential fiscal prudence or alternative compensation structures
- Positive net income in recent years (e.g., $229,896 in 2023)
Frequently Asked Questions about Surgical Review Corporation
Is Surgical Review Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Surgical Review Corporation (EIN: 200472961) some concerns. Mission Score: 65/100. 3 red flags identified, 3 strengths noted.
How does Surgical Review Corporation spend its money?
Surgical Review Corporation directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Surgical Review Corporation tax-deductible?
Surgical Review Corporation is registered as a tax-exempt nonprofit (EIN: 200472961). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Surgical Review Corporation financially stable given its negative net assets?
SRC's consistent negative net assets, such as $86,086 in assets against $390,168 in liabilities in 2023, indicate a precarious financial position. While revenue has grown, the inability to build a positive asset base suggests potential long-term stability concerns.
How does SRC manage its liabilities?
The organization consistently carries significant liabilities, for example, $390,168 in 2023 and $542,478 in 2022, often far exceeding its assets. This suggests a reliance on short-term financing or deferred revenue, which requires careful management to avoid liquidity issues.
What is the reason for 0% officer compensation reported?
The consistent reporting of 0% officer compensation across all filings is unusual for an organization of this size and revenue. It could mean that executives are unpaid volunteers, compensated through a related entity, or that their compensation is categorized differently within the 990, warranting further investigation for full transparency.
Filing History
IRS 990 filing history for Surgical Review Corporation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Surgical Review Corporation's revenue has grown by 11.9%, moving from $4.5M to $5.0M. Total assets decreased by 95% over the same period, from $1.7M to $86K. Total functional expenses rose by 12.9%, from $4.2M to $4.8M. In its most recent filing year (2023), Surgical Review Corporation reported a surplus of $230K, with revenue exceeding expenses. The organization holds $390K in liabilities against $86K in assets (debt-to-asset ratio: 453.2%), resulting in net assets of $-304,082.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $5.0M | $4.8M | $86K | $390K | — | — |
| 2022 | $4.0M | $4.2M | $9K | $542K | — | — |
| 2021 | $3.5M | $3.5M | $203K | $523K | — | View 990 |
| 2020 | $3.0M | $2.8M | $224K | $536K | — | — |
| 2019 | $2.6M | $2.6M | $15K | $580K | — | View 990 |
| 2018 | $2.1M | $1.8M | $32K | $592K | — | View 990 |
| 2017 | $1.9M | $1.5M | $0 | $885K | — | View 990 |
| 2016 | $1.6M | $1.5M | $7K | $1.3M | — | View 990 |
| 2015 | $1.9M | $1.6M | $0 | $1.3M | — | View 990 |
| 2014 | $492K | $1.6M | $22K | $1.7M | — | View 990 |
| 2013 | $1.4M | $1.4M | $1.5M | $2.0M | — | View 990 |
| 2012 | $1.2M | $1.8M | $1.5M | $2.1M | — | View 990 |
| 2011 | $4.5M | $4.2M | $1.7M | $1.6M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $5.0M, expenses of $4.8M, and assets of $86K (revenue +24.4% year-over-year).
- 2022: Revenue of $4.0M, expenses of $4.2M, and assets of $9K (revenue +15.4% year-over-year).
- 2021: Revenue of $3.5M, expenses of $3.5M, and assets of $203K (revenue +15.1% year-over-year).
- 2020: Revenue of $3.0M, expenses of $2.8M, and assets of $224K (revenue +16.6% year-over-year).
- 2019: Revenue of $2.6M, expenses of $2.6M, and assets of $15K (revenue +23.8% year-over-year).
- 2018: Revenue of $2.1M, expenses of $1.8M, and assets of $32K (revenue +11.2% year-over-year).
- 2017: Revenue of $1.9M, expenses of $1.5M, and assets of $0 (revenue +20.2% year-over-year).
- 2016: Revenue of $1.6M, expenses of $1.5M, and assets of $7K (revenue -17.3% year-over-year).
- 2015: Revenue of $1.9M, expenses of $1.6M, and assets of $0 (revenue +285.6% year-over-year).
- 2014: Revenue of $492K, expenses of $1.6M, and assets of $22K (revenue -66.0% year-over-year).
- 2013: Revenue of $1.4M, expenses of $1.4M, and assets of $1.5M (revenue +21.4% year-over-year).
- 2012: Revenue of $1.2M, expenses of $1.8M, and assets of $1.5M (revenue -73.4% year-over-year).
- 2011: Revenue of $4.5M, expenses of $4.2M, and assets of $1.7M.
Data Sources and Methodology
This transparency report for Surgical Review 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.