Thats The Spirit Productions Inc
Thats The Spirit Productions Inc. faces significant financial challenges with consistent operating deficits and an 87% decline in revenue over eight years.
EIN: 133025846 · Greenwich, CT · Updated: 2026-03-28
Is Thats The Spirit Productions Inc Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Thats The Spirit Productions Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Thats The Spirit Productions Inc
Thats The Spirit Productions Inc (EIN: 133025846) is a nonprofit organization based in Greenwich, CT. The organization reported total revenue of $43K and total assets of $59K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Thats The Spirit Productions Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Thats The Spirit Productions Inc is a micro nonprofit that has been operating for 44 years, with 6 years of IRS 990 filings on record (2012–2020). Revenue has grown at a compound annual rate of -22.8%.
Key Financial Metrics (2020)
From the most recent IRS 990 filing on record:
| Total Revenue | $43K |
| Total Expenses | $122K |
| Surplus / Deficit | $-78,753 |
| Total Assets | $59K |
| Total Liabilities | $52K |
| Net Assets | $7K |
| Operating Margin | -182.5% |
| Debt-to-Asset Ratio | 88.1% |
| Months of Reserves | 5.8 months |
Financial Health Grade: C
In 2020, Thats The Spirit Productions Inc reported a deficit of $79K with expenses exceeding revenue, holds 5.8 months of operating reserves (adequate), has a debt-to-asset ratio of 88.1% (high leverage).
Financial Trends
Over 6 years of filings (2012–2020), Thats The Spirit Productions Inc's revenue has declined at a compound annual growth rate (CAGR) of -22.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2020 | -83.2% | -59.9% | +68.4% |
| 2016 | -6.4% | +2.5% | -52.1% |
| 2015 | -15.1% | -40.2% | -25.7% |
| 2014 | +5.6% | -16.4% | -64.4% |
| 2013 | -10.4% | +0.4% | -51.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1982 |
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 Thats The Spirit Productions Inc 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, Thats The Spirit Productions Inc allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2020)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $79K, with expenses exceeding revenue.
- Debt-to-asset ratio: 88.1%.
Executive Compensation Analysis
Officer compensation is reported as 0% across all available filings, suggesting that key executives may be uncompensated volunteers or compensated through mechanisms not categorized as officer compensation on the 990, which could contribute to lower overhead if accurate.
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 Thats The Spirit Productions Inc's IRS 990 filings:
- Consistent operating deficits across all reported periods, with expenses exceeding revenue.
- Significant decline in revenue from $341,743 in 2012 to $43,152 in 2020, indicating reduced operational scale or funding.
- Liabilities of $51,714 in 2020 are substantial relative to current assets of $58,718, indicating limited financial cushion.
Strengths
The following positive indicators were identified for Thats The Spirit Productions Inc:
- No reported officer compensation, which could indicate a volunteer-driven leadership structure and potentially lower administrative costs.
Frequently Asked Questions about Thats The Spirit Productions Inc
Is Thats The Spirit Productions Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Thats The Spirit Productions Inc (EIN: 133025846) significant concerns. Mission Score: 45/100. 3 red flags identified, 1 strength noted.
How does Thats The Spirit Productions Inc spend its money?
Thats The Spirit Productions Inc directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Thats The Spirit Productions Inc tax-deductible?
Thats The Spirit Productions Inc is registered as a tax-exempt nonprofit (EIN: 133025846). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What caused the significant decline in revenue from $341,743 in 2012 to $43,152 in 2020?
The provided data does not specify the reasons for the revenue decline, but it is a critical factor impacting the organization's financial viability.
How does Thats The Spirit Productions Inc. cover its consistent operating deficits?
The consistent deficits suggest the organization is either drawing down on reserves (though assets are not substantially high) or relying on other forms of support not fully reflected in the revenue figures, or accumulating debt, as indicated by liabilities of $51,714 in 2020.
What is the detailed breakdown of expenses (program, administrative, fundraising) for the latest fiscal year?
The provided IRS 990 summary data does not offer a detailed breakdown of expenses, making it difficult to precisely assess spending efficiency across different categories.
Filing History
IRS 990 filing history for Thats The Spirit Productions Inc showing financial trends over 6 years of public records:
Over 6 years of IRS 990 filings (2012–2020), Thats The Spirit Productions Inc's revenue has declined by 87.4%, moving from $342K to $43K. Total assets decreased by 89.6% over the same period, from $567K to $59K. Total functional expenses fell by 79.4%, from $592K to $122K. In its most recent filing year (2020), Thats The Spirit Productions Inc reported a deficit of $79K, with expenses exceeding revenue. The organization holds $52K in liabilities against $59K in assets (debt-to-asset ratio: 88.1%), resulting in net assets of $7K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2020 | $43K | $122K | $59K | $52K | — | — |
| 2016 | $257K | $304K | $35K | $11K | — | View 990 |
| 2015 | $274K | $297K | $73K | $975 | — | View 990 |
| 2014 | $323K | $497K | $98K | $4K | — | View 990 |
| 2013 | $306K | $594K | $276K | $7K | — | View 990 |
| 2012 | $342K | $592K | $567K | $11K | — | View 990 |
Year-by-Year Financial Summary
- 2020: Revenue of $43K, expenses of $122K, and assets of $59K (revenue -83.2% year-over-year).
- 2016: Revenue of $257K, expenses of $304K, and assets of $35K (revenue -6.4% year-over-year).
- 2015: Revenue of $274K, expenses of $297K, and assets of $73K (revenue -15.1% year-over-year).
- 2014: Revenue of $323K, expenses of $497K, and assets of $98K (revenue +5.6% year-over-year).
- 2013: Revenue of $306K, expenses of $594K, and assets of $276K (revenue -10.4% year-over-year).
- 2012: Revenue of $342K, expenses of $592K, and assets of $567K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Thats The Spirit Productions Inc:
Data Sources and Methodology
This transparency report for Thats The Spirit Productions 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.