The Elms Inc
The Elms Inc: Declining Assets and Persistent Deficits Raise Concerns
EIN: 222475565 · Holyoke, MA · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $797K |
| Total Expenses | $923K |
| Program Spending | 75% |
| Net Assets | $-2,359,430 |
| Transparency Score | 65/100 |
Is The Elms Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
The Elms Inc directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About The Elms Inc
The Elms Inc (EIN: 222475565) is a nonprofit organization based in Holyoke, MA. The organization reported total revenue of $797K and total assets of $1.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of The Elms Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
The Elms Inc is a small nonprofit that has been operating for 43 years, with 12 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of 2.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $838K |
| Total Expenses | $923K |
| Surplus / Deficit | $-85,236 |
| Total Assets | $1.9M |
| Total Liabilities | $4.3M |
| Net Assets | $-2,359,430 |
| Operating Margin | -10.2% |
| Debt-to-Asset Ratio | 224.2% |
| Months of Reserves | 24.7 months |
Financial Health Grade: C
In 2023, The Elms Inc reported a deficit of $85K with expenses exceeding revenue, holds 24.7 months of operating reserves (strong position), has a debt-to-asset ratio of 224.2% (high leverage).
Financial Trends
Over 12 years of filings (2012–2023), The Elms Inc's revenue has grown at a compound annual growth rate (CAGR) of 2.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +6.1% | +4.2% | -4.9% |
| 2022 | +8.1% | -6.9% | -9.2% |
| 2021 | +0.1% | +6.6% | -11.4% |
| 2020 | -0.5% | +0.3% | -10.0% |
| 2019 | +3.2% | +16.0% | -6.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1983 |
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 The Elms Inc 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: 75%
- fundraising: 10%
According to IRS 990 filings, The Elms Inc allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $85K, with expenses exceeding revenue.
- Debt-to-asset ratio: 224.2%.
Executive Compensation Analysis
Without specific compensation figures, it's impossible to assess the reasonableness of executive compensation; however, given the organization's financial decline, any significant compensation would warrant scrutiny.
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 The Elms Inc's IRS 990 filings:
- Consistent operating deficits: Expenses have exceeded revenue every year from 2016 to 2023.
- Significant decline in net assets: Assets have nearly halved over the past seven years.
- Lack of detailed executive compensation data in provided filings.
Strengths
The following positive indicators were identified for The Elms Inc:
- Long-standing presence in Holyoke, MA, suggesting established community ties.
Frequently Asked Questions about The Elms Inc
Is The Elms Inc a legitimate charity?
The Elms Inc (EIN: 222475565) is a registered tax-exempt nonprofit based in Massachusetts. Our AI analysis gives it a Mission Score of 65/100. It has 12 years of IRS 990 filings on record. Total revenue: $797K. 3 red flags identified. 1 strength noted. Financial health grade: C.
How does The Elms Inc spend its money?
The Elms Inc directs 75% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to The Elms Inc tax-deductible?
The Elms Inc is registered as a tax-exempt nonprofit (EIN: 222475565). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of The Elms Inc's spending goes to programs?
The Elms Inc directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is The Elms Inc located?
The Elms Inc is headquartered in Holyoke, Massachusetts and files with the IRS under EIN 222475565.
How many years of IRS 990 filings does The Elms Inc have?
The Elms Inc has 12 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 $797K in total revenue.
What does The Elms Inc do?
The Elms Inc is a nonprofit organization in the Unknown sector, located in Holyoke, Massachusetts. It is classified under NTEE code Unknown.
How much revenue does The Elms Inc have?
The Elms Inc reported total revenue of $797,210. Based on 12 IRS 990 filings on record.
What are The Elms Inc's total assets?
The Elms Inc holds total assets of $1,835,499 as reported in IRS 990 filings.
Where is The Elms Inc located?
The Elms Inc is based in Holyoke, Massachusetts.
What is The Elms Inc's EIN?
The Elms Inc's Employer Identification Number (EIN) is 222475565. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is The Elms Inc?
The Elms Inc is classified under NTEE code Unknown (Unknown).
Is The Elms Inc a registered 501(c)(3)?
The Elms Inc appears in IRS records (EIN: 222475565). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does The Elms Inc file IRS Form 990?
Yes, The Elms Inc has 12 IRS Form 990 filings on record. The most recent covers tax period 202307.
What was The Elms Inc's revenue in 2023?
In the 202307 filing period, The Elms Inc reported total revenue of $838,081, total expenses of $923,317, and net assets of $1,900,372.
Is The Elms Inc's revenue growing or declining?
The Elms Inc's revenue is growing. Revenue went from $790,107 (202207) to $838,081 (202307), a +6.1% change. Based on 12 filings on record.
What is The Elms Inc's most recent 990 filing?
The most recent IRS Form 990 filing for The Elms Inc covers tax period 202307. It shows revenue of $838,081, expenses of $923,317, total assets of $1,900,372, and liabilities of $4,259,802.
How much does The Elms Inc spend on programs vs administration?
Based on IRS 990 analysis, The Elms Inc allocates approximately 75% of expenses to program services, 15% to administrative costs, and 10% to fundraising. This indicates strong program focus.
Is The Elms Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, The Elms Inc shows mixed signals. Mission Score: 65/100 (Good). 3 red flags identified. 1 strength noted.
What are the red flags for The Elms Inc?
The following concerns were identified: Consistent operating deficits: Expenses have exceeded revenue every year from 2016 to 2023.. Significant decline in net assets: Assets have nearly halved over the past seven years.. Lack of detailed executive compensation data in provided filings.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are The Elms Inc's strengths?
Positive indicators for The Elms Inc include: Long-standing presence in Holyoke, MA, suggesting established community ties.. These findings are derived from AI analysis of the organization's financial filings.
How does The Elms Inc compensate executives?
Without specific compensation figures, it's impossible to assess the reasonableness of executive compensation; however, given the organization's financial decline, any significant compensation would warrant scrutiny. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
What is the primary driver behind the consistent decline in net assets, and what strategies are being implemented to reverse this trend?
The consistent decline in net assets is driven by annual operating deficits, where total expenses (x) consistently exceed total revenue (r). For example, in 2023, revenue was $838,081 while expenses were $923,317. The provided data does not detail specific strategies to reverse this trend.
Filing History
IRS 990 filing history for The Elms Inc showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2023), The Elms Inc's revenue has grown by 31.3%, moving from $638K to $838K. Total assets increased by 18.7% over the same period, from $1.6M to $1.9M. Total functional expenses rose by 37.4%, from $672K to $923K. In its most recent filing year (2023), The Elms Inc reported a deficit of $85K, with expenses exceeding revenue. The organization holds $4.3M in liabilities against $1.9M in assets (debt-to-asset ratio: 224.2%), resulting in net assets of $-2,359,430.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $838K | $923K | $1.9M | $4.3M | — | — |
| 2022 | $790K | $886K | $2.0M | $4.3M | — | View 990 |
| 2021 | $731K | $951K | $2.2M | $4.4M | — | — |
| 2020 | $730K | $893K | $2.5M | $4.4M | — | — |
| 2019 | $733K | $890K | $2.8M | $4.6M | — | View 990 |
| 2018 | $711K | $767K | $2.9M | $4.6M | — | View 990 |
| 2017 | $708K | $751K | $3.1M | $4.7M | — | — |
| 2016 | $702K | $739K | $3.4M | $4.9M | — | View 990 |
| 2015 | $691K | $759K | $1.3M | $2.8M | — | View 990 |
| 2014 | $731K | $696K | $1.5M | $2.9M | — | View 990 |
| 2013 | $641K | $672K | $1.5M | $3.0M | — | View 990 |
| 2012 | $638K | $672K | $1.6M | $3.0M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $838K, expenses of $923K, and assets of $1.9M (revenue +6.1% year-over-year).
- 2022: Revenue of $790K, expenses of $886K, and assets of $2.0M (revenue +8.1% year-over-year).
- 2021: Revenue of $731K, expenses of $951K, and assets of $2.2M (revenue +0.1% year-over-year).
- 2020: Revenue of $730K, expenses of $893K, and assets of $2.5M (revenue -0.5% year-over-year).
- 2019: Revenue of $733K, expenses of $890K, and assets of $2.8M (revenue +3.2% year-over-year).
- 2018: Revenue of $711K, expenses of $767K, and assets of $2.9M (revenue +0.5% year-over-year).
- 2017: Revenue of $708K, expenses of $751K, and assets of $3.1M (revenue +0.8% year-over-year).
- 2016: Revenue of $702K, expenses of $739K, and assets of $3.4M (revenue +1.6% year-over-year).
- 2015: Revenue of $691K, expenses of $759K, and assets of $1.3M (revenue -5.5% year-over-year).
- 2014: Revenue of $731K, expenses of $696K, and assets of $1.5M (revenue +14.1% year-over-year).
- 2013: Revenue of $641K, expenses of $672K, and assets of $1.5M (revenue +0.4% year-over-year).
- 2012: Revenue of $638K, expenses of $672K, and assets of $1.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for The Elms Inc:
Data Sources and Methodology
This transparency report for The Elms 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.