The Mind Trust Inc
The Mind Trust Inc shows significant revenue and asset growth, with no reported officer compensation in recent filings.
EIN: 204560286 · Indianapolis, IN · NTEE: B052 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $58.0M |
| Total Expenses | $21.7M |
| Program Spending | 80% |
| Net Assets | $25.2M |
| Transparency Score | 85/100 |
Is The Mind Trust Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
The Mind Trust Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About The Mind Trust Inc
The Mind Trust Inc (EIN: 204560286) is a nonprofit organization based in Indianapolis, IN, classified under NTEE code B052. The organization reported total revenue of $58.0M and total assets of $58.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of The Mind Trust Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
The Mind Trust Inc is a major nonprofit that has been operating for 19 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 9.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $29.9M |
| Total Expenses | $21.7M |
| Surplus / Deficit | +$8.2M |
| Total Assets | $26.4M |
| Total Liabilities | $1.2M |
| Net Assets | $25.2M |
| Operating Margin | 27.3% |
| Debt-to-Asset Ratio | 4.7% |
| Months of Reserves | 14.6 months |
Financial Health Grade: A
In 2023, The Mind Trust Inc reported a surplus of $8.2M with revenue exceeding expenses, holds 14.6 months of operating reserves (strong position), has a debt-to-asset ratio of 4.7% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), The Mind Trust Inc's revenue has grown at a compound annual growth rate (CAGR) of 9.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +175.9% | +10.6% | +39.3% |
| 2022 | -58.6% | -10.8% | -33.3% |
| 2021 | +29.1% | +47.8% | +25.6% |
| 2020 | -7.0% | -8.2% | +34.4% |
| 2019 | +258.5% | +36.2% | +52.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2007 |
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 Mind Trust Inc with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 80%
- fundraising: 10%
According to IRS 990 filings, The Mind Trust Inc allocates its expenses as follows: admin: 10%, programs: 80%, fundraising: 10%. With 80% 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 surplus of $8.2M, with revenue exceeding expenses.
- Debt-to-asset ratio: 4.7%.
Executive Compensation Analysis
The provided data consistently reports 0% officer compensation across all filing periods, which is unusual for an organization of this size and revenue. This could indicate that executive compensation is either not paid, paid through a related entity, or categorized differently within the filings, requiring deeper scrutiny for full understanding.
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 Mind Trust Inc's IRS 990 filings:
- Consistent 0% officer compensation reported, which is unusual for an organization of this scale and warrants further investigation into how leadership is compensated or if it's reported elsewhere.
- Periods of significant expense exceeding revenue (e.g., 202206: $19.6M expenses vs. $10.8M revenue), which, while potentially strategic, could indicate reliance on reserves or unsustainable spending without consistent revenue growth.
Strengths
The following positive indicators were identified for The Mind Trust Inc:
- Strong revenue growth, with the latest reported revenue at $57,982,785, indicating robust fundraising and financial support.
- Substantial and growing asset base, reaching $58,731,314, demonstrating financial stability and capacity for future programs.
- Consistent positive net assets across most filing periods, reflecting sound financial management.
- Significant increase in revenue in the 202306 period ($29,881,369), showing strong recent financial performance.
Frequently Asked Questions about The Mind Trust Inc
Is The Mind Trust Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, The Mind Trust Inc (EIN: 204560286) some concerns. Mission Score: 85/100. 2 red flags identified, 4 strengths noted.
How does The Mind Trust Inc spend its money?
The Mind Trust Inc directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to The Mind Trust Inc tax-deductible?
The Mind Trust Inc is registered as a tax-exempt nonprofit (EIN: 204560286). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of The Mind Trust Inc's spending goes to programs?
The Mind Trust Inc directs 80% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does The Mind Trust Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), The Mind Trust Inc is above average for NTEE category B052 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is The Mind Trust Inc located?
The Mind Trust Inc is headquartered in Indianapolis, Indiana and files with the IRS under EIN 204560286. It is classified under NTEE code B052.
How many years of IRS 990 filings does The Mind Trust Inc have?
The Mind Trust 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 $58.0M in total revenue.
Is The Mind Trust Inc a good charity?
Based on the available financial data, The Mind Trust Inc appears to be a financially stable and growing organization with substantial assets and revenue. The consistent growth and positive net assets suggest effective management. However, a complete assessment would require detailed program spending ratios and clarification on executive compensation reporting.
Why is officer compensation consistently reported as 0%?
The consistent reporting of 0% officer compensation across all filings is atypical for an organization with revenues reaching tens of millions. This could mean officers are volunteers, compensated by a related entity, or their compensation is included in other expense categories, which would reduce transparency regarding leadership costs.
What caused the significant revenue increase in the latest period (202306)?
The latest period (202306) shows a substantial increase in revenue to $29,881,369 from $10,830,656 in the prior period (202206). This significant jump suggests successful fundraising campaigns, large grants, or other substantial income streams that contributed to the organization's growth.
How does The Mind Trust Inc manage periods where expenses exceed revenue?
In periods like 202206 and 201806, expenses significantly exceeded revenue. This indicates the organization likely utilized accumulated reserves or assets from previous periods to cover operational costs or fund specific initiatives, demonstrating a capacity to manage financial fluctuations.
Filing History
IRS 990 filing history for The Mind Trust Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), The Mind Trust Inc's revenue has grown by 207.1%, moving from $9.7M to $29.9M. Total assets increased by 181.7% over the same period, from $9.4M to $26.4M. Total functional expenses rose by 225%, from $6.7M to $21.7M. In its most recent filing year (2023), The Mind Trust Inc reported a surplus of $8.2M, with revenue exceeding expenses. The organization holds $1.2M in liabilities against $26.4M in assets (debt-to-asset ratio: 4.7%), resulting in net assets of $25.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $29.9M | $21.7M | $26.4M | $1.2M | — | View 990 |
| 2022 | $10.8M | $19.6M | $19.0M | $2.0M | — | View 990 |
| 2021 | $26.2M | $22.0M | $28.5M | $2.6M | — | View 990 |
| 2020 | $20.3M | $14.9M | $22.7M | $974K | — | View 990 |
| 2019 | $21.8M | $16.2M | $16.9M | $560K | — | View 990 |
| 2018 | $6.1M | $11.9M | $11.0M | $315K | — | View 990 |
| 2017 | $5.4M | $6.4M | $17.0M | $473K | — | View 990 |
| 2016 | $14.3M | $6.9M | $17.8M | $310K | — | View 990 |
| 2015 | $7.0M | $4.3M | $11.9M | $1.7M | — | View 990 |
| 2014 | $6.8M | $7.2M | $11.0M | $3.5M | — | View 990 |
| 2013 | $7.0M | $8.6M | $9.9M | $1.9M | — | View 990 |
| 2012 | $5.9M | $4.1M | $10.4M | $793K | — | View 990 |
| 2011 | $9.7M | $6.7M | $9.4M | $1.6M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $29.9M, expenses of $21.7M, and assets of $26.4M (revenue +175.9% year-over-year).
- 2022: Revenue of $10.8M, expenses of $19.6M, and assets of $19.0M (revenue -58.6% year-over-year).
- 2021: Revenue of $26.2M, expenses of $22.0M, and assets of $28.5M (revenue +29.1% year-over-year).
- 2020: Revenue of $20.3M, expenses of $14.9M, and assets of $22.7M (revenue -7.0% year-over-year).
- 2019: Revenue of $21.8M, expenses of $16.2M, and assets of $16.9M (revenue +258.5% year-over-year).
- 2018: Revenue of $6.1M, expenses of $11.9M, and assets of $11.0M (revenue +13.4% year-over-year).
- 2017: Revenue of $5.4M, expenses of $6.4M, and assets of $17.0M (revenue -62.4% year-over-year).
- 2016: Revenue of $14.3M, expenses of $6.9M, and assets of $17.8M (revenue +104.0% year-over-year).
- 2015: Revenue of $7.0M, expenses of $4.3M, and assets of $11.9M (revenue +3.4% year-over-year).
- 2014: Revenue of $6.8M, expenses of $7.2M, and assets of $11.0M (revenue -3.0% year-over-year).
- 2013: Revenue of $7.0M, expenses of $8.6M, and assets of $9.9M (revenue +17.4% year-over-year).
- 2012: Revenue of $5.9M, expenses of $4.1M, and assets of $10.4M (revenue -38.9% year-over-year).
- 2011: Revenue of $9.7M, expenses of $6.7M, and assets of $9.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for The Mind Trust Inc:
Data Sources and Methodology
This transparency report for The Mind Trust 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.