The Kwame Nkrumah Academy Inc
Kwame Nkrumah Academy reports $2M revenue but negative net assets in latest filing.
EIN: 113820444 · Chicago, IL · NTEE: B24 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.0M |
| Total Expenses | $2.1M |
| Program Spending | 70% |
| Net Assets | $-158,215 |
| Transparency Score | 60/100 |
Is The Kwame Nkrumah Academy Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
The Kwame Nkrumah Academy Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About The Kwame Nkrumah Academy Inc
The Kwame Nkrumah Academy Inc (EIN: 113820444) is a nonprofit organization based in Chicago, IL, classified under NTEE code B24. The organization reported total revenue of $2.0M and total assets of $2.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of The Kwame Nkrumah Academy Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
The Kwame Nkrumah Academy Inc is a mid-size nonprofit that has been operating for 18 years, with 7 years of IRS 990 filings on record (2011–2018). Revenue has grown at a compound annual rate of 1.2%.
Key Financial Metrics (2018)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.0M |
| Total Expenses | $2.1M |
| Surplus / Deficit | $-17,385 |
| Total Assets | $2.9M |
| Total Liabilities | $3.1M |
| Net Assets | $-158,215 |
| Operating Margin | -0.8% |
| Debt-to-Asset Ratio | 105.4% |
| Months of Reserves | 16.9 months |
Financial Health Grade: C
In 2018, The Kwame Nkrumah Academy Inc reported a deficit of $17K with expenses exceeding revenue, holds 16.9 months of operating reserves (strong position), has a debt-to-asset ratio of 105.4% (high leverage).
Financial Trends
Over 7 years of filings (2011–2018), The Kwame Nkrumah Academy Inc's revenue has grown at a compound annual growth rate (CAGR) of 1.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2018 | -41.8% | -42.9% | -17.7% |
| 2016 | +4.6% | +14.4% | -2.5% |
| 2015 | +41.6% | +19.7% | +465.8% |
| 2014 | -2.0% | +14.4% | -13.8% |
| 2013 | +11.0% | +7.1% | +18.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2008 |
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 Kwame Nkrumah Academy Inc with a Mission Score of 60 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, The Kwame Nkrumah Academy Inc allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2018)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $17K, with expenses exceeding revenue.
- Debt-to-asset ratio: 105.4%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, which either indicates that executive leadership is entirely volunteer-based or that compensation details are not fully captured in this summary data, raising a transparency concern given the organization's multi-million dollar operations.
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 Kwame Nkrumah Academy Inc's IRS 990 filings:
- Liabilities ($3,062,076 in 201806) exceed assets ($2,903,861), indicating negative net assets.
- Expenses frequently exceed revenue, leading to operational deficits in multiple periods (e.g., 201806, 201606, 201406).
- Consistent reporting of 0% officer compensation for a multi-million dollar organization raises transparency concerns regarding executive pay.
Strengths
The following positive indicators were identified for The Kwame Nkrumah Academy Inc:
- Consistent filing of IRS Form 990s, indicating compliance with reporting requirements.
- Significant growth in assets from $607,066 in 201106 to $2,903,861 in 201806, despite recent financial challenges.
Frequently Asked Questions about The Kwame Nkrumah Academy Inc
Is The Kwame Nkrumah Academy Inc a legitimate charity?
The Kwame Nkrumah Academy Inc (EIN: 113820444) is a registered tax-exempt nonprofit based in Illinois. Our AI analysis gives it a Mission Score of 60/100. It has 7 years of IRS 990 filings on record. Total revenue: $2.0M. 3 red flags identified. 2 strengths noted. Financial health grade: C.
How does The Kwame Nkrumah Academy Inc spend its money?
The Kwame Nkrumah Academy Inc directs 70% of its spending to programs and services. Fundraising costs 10%. This meets the 65% industry benchmark.
Are donations to The Kwame Nkrumah Academy Inc tax-deductible?
The Kwame Nkrumah Academy Inc is registered as a tax-exempt nonprofit (EIN: 113820444). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of The Kwame Nkrumah Academy Inc's spending goes to programs?
The Kwame Nkrumah Academy Inc directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
How does The Kwame Nkrumah Academy Inc compare to similar nonprofits?
With a transparency score of 60/100 (Good), The Kwame Nkrumah Academy Inc is above average for NTEE category B24 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is The Kwame Nkrumah Academy Inc located?
The Kwame Nkrumah Academy Inc is headquartered in Chicago, Illinois and files with the IRS under EIN 113820444. It is classified under NTEE code B24.
How many years of IRS 990 filings does The Kwame Nkrumah Academy Inc have?
The Kwame Nkrumah Academy Inc has 7 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 $2.0M in total revenue.
Is The Kwame Nkrumah Academy Inc. financially stable?
The organization's financial stability is questionable, as its liabilities ($3,062,076 in 201806) exceed its assets ($2,903,861), resulting in negative net assets. Additionally, expenses have frequently outpaced revenue in recent years, such as in 201806 and 201606.
How does The Kwame Nkrumah Academy Inc. compensate its leadership?
Based on the provided data, The Kwame Nkrumah Academy Inc. consistently reports 0% officer compensation across all filings, suggesting either an all-volunteer leadership or a lack of detailed compensation reporting in this summary.
What is the trend in the organization's revenue and expenses?
Revenue has fluctuated, peaking at over $3.5 million in 201606 and dropping to $2.04 million in 201806. Expenses have generally tracked closely with revenue, often slightly exceeding it, as seen in 201806 ($2,063,011 expenses vs. $2,045,626 revenue).
Filing History
IRS 990 filing history for The Kwame Nkrumah Academy Inc showing financial trends over 7 years of public records:
Over 7 years of IRS 990 filings (2011–2018), The Kwame Nkrumah Academy Inc's revenue has grown by 9%, moving from $1.9M to $2.0M. Total assets increased by 378.3% over the same period, from $607K to $2.9M. Total functional expenses rose by 15.3%, from $1.8M to $2.1M. In its most recent filing year (2018), The Kwame Nkrumah Academy Inc reported a deficit of $17K, with expenses exceeding revenue. The organization holds $3.1M in liabilities against $2.9M in assets (debt-to-asset ratio: 105.4%), resulting in net assets of $-158,215.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2018 | $2.0M | $2.1M | $2.9M | $3.1M | — | View 990 |
| 2016 | $3.5M | $3.6M | $3.5M | $3.2M | — | View 990 |
| 2015 | $3.4M | $3.2M | $3.6M | $3.2M | — | View 990 |
| 2014 | $2.4M | $2.6M | $639K | $390K | — | View 990 |
| 2013 | $2.4M | $2.3M | $741K | $227K | — | View 990 |
| 2012 | $2.2M | $2.2M | $624K | $221K | — | View 990 |
| 2011 | $1.9M | $1.8M | $607K | $231K | — | View 990 |
Year-by-Year Financial Summary
- 2018: Revenue of $2.0M, expenses of $2.1M, and assets of $2.9M (revenue -41.8% year-over-year).
- 2016: Revenue of $3.5M, expenses of $3.6M, and assets of $3.5M (revenue +4.6% year-over-year).
- 2015: Revenue of $3.4M, expenses of $3.2M, and assets of $3.6M (revenue +41.6% year-over-year).
- 2014: Revenue of $2.4M, expenses of $2.6M, and assets of $639K (revenue -2.0% year-over-year).
- 2013: Revenue of $2.4M, expenses of $2.3M, and assets of $741K (revenue +11.0% year-over-year).
- 2012: Revenue of $2.2M, expenses of $2.2M, and assets of $624K (revenue +16.2% year-over-year).
- 2011: Revenue of $1.9M, expenses of $1.8M, and assets of $607K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for The Kwame Nkrumah Academy Inc:
Data Sources and Methodology
This transparency report for The Kwame Nkrumah Academy 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.