The Scrap Exchange Inc
EIN: 561728718 · Durham, NC · NTEE: C200
Is The Scrap Exchange Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About The Scrap Exchange Inc
The Scrap Exchange Inc (EIN: 561728718) is a nonprofit organization based in Durham, NC, classified under NTEE code C200. The organization reported total revenue of $2.8M and total assets of $6.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of The Scrap Exchange Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
The Scrap Exchange Inc is a mid-size nonprofit that has been operating for 35 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 15.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.2M |
| Total Expenses | $2.3M |
| Surplus / Deficit | $-100,417 |
| Total Assets | $7.1M |
| Total Liabilities | $8.3M |
| Net Assets | $-1,221,845 |
| Operating Margin | -4.6% |
| Debt-to-Asset Ratio | 117.3% |
| Months of Reserves | 37.2 months |
Financial Health Grade: C
In 2023, The Scrap Exchange Inc reported a deficit of $100K with expenses exceeding revenue, holds 37.2 months of operating reserves (strong position), has a debt-to-asset ratio of 117.3% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), The Scrap Exchange Inc's revenue has grown at a compound annual growth rate (CAGR) of 15.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +36.7% | +13.6% | -1.6% |
| 2022 | -22.2% | -12.5% | +6.0% |
| 2021 | +2.2% | +10.7% | +19.6% |
| 2020 | -17.7% | -21.3% | +7.4% |
| 2019 | +48.2% | +32.7% | +4.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 1991 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for The Scrap Exchange Inc has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates The Scrap Exchange Inc with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $100K, with expenses exceeding revenue.
- Debt-to-asset ratio: 117.3%.
Frequently Asked Questions about The Scrap Exchange Inc
Is The Scrap Exchange Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, The Scrap Exchange Inc (EIN: 561728718) insufficient data. 0 red flags identified, 0 strengths noted.
How does The Scrap Exchange Inc spend its money?
Detailed spending breakdown data is not yet available for The Scrap Exchange Inc. Check back for updated IRS 990 analysis.
Are donations to The Scrap Exchange Inc tax-deductible?
The Scrap Exchange Inc is registered as a tax-exempt nonprofit (EIN: 561728718). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Filing History
IRS 990 filing history for The Scrap Exchange Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), The Scrap Exchange Inc's revenue has grown by 463.4%, moving from $386K to $2.2M. Total assets increased by 6763.1% over the same period, from $103K to $7.1M. Total functional expenses rose by 491.3%, from $385K to $2.3M. In its most recent filing year (2023), The Scrap Exchange Inc reported a deficit of $100K, with expenses exceeding revenue. The organization holds $8.3M in liabilities against $7.1M in assets (debt-to-asset ratio: 117.3%), resulting in net assets of $-1,221,845.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.2M | $2.3M | $7.1M | $8.3M | — | — |
| 2022 | $1.6M | $2.0M | $7.2M | $8.3M | — | View 990 |
| 2021 | $2.0M | $2.3M | $6.8M | $7.3M | — | View 990 |
| 2020 | $2.0M | $2.1M | $5.7M | $5.9M | — | — |
| 2019 | $2.4M | $2.6M | $5.3M | $5.4M | — | View 990 |
| 2018 | $1.6M | $2.0M | $5.1M | $5.0M | — | View 990 |
| 2017 | $1.3M | $1.4M | $4.3M | $3.9M | — | View 990 |
| 2016 | $990K | $974K | $3.6M | $3.1M | — | View 990 |
| 2015 | $710K | $726K | $1.0M | $571K | — | View 990 |
| 2014 | $680K | $683K | $1.0M | $578K | — | View 990 |
| 2013 | $807K | $463K | $1.1M | $608K | — | View 990 |
| 2012 | $480K | $461K | $120K | $9K | — | View 990 |
| 2011 | $386K | $385K | $103K | $11K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.2M, expenses of $2.3M, and assets of $7.1M (revenue +36.7% year-over-year).
- 2022: Revenue of $1.6M, expenses of $2.0M, and assets of $7.2M (revenue -22.2% year-over-year).
- 2021: Revenue of $2.0M, expenses of $2.3M, and assets of $6.8M (revenue +2.2% year-over-year).
- 2020: Revenue of $2.0M, expenses of $2.1M, and assets of $5.7M (revenue -17.7% year-over-year).
- 2019: Revenue of $2.4M, expenses of $2.6M, and assets of $5.3M (revenue +48.2% year-over-year).
- 2018: Revenue of $1.6M, expenses of $2.0M, and assets of $5.1M (revenue +27.5% year-over-year).
- 2017: Revenue of $1.3M, expenses of $1.4M, and assets of $4.3M (revenue +30.0% year-over-year).
- 2016: Revenue of $990K, expenses of $974K, and assets of $3.6M (revenue +39.4% year-over-year).
- 2015: Revenue of $710K, expenses of $726K, and assets of $1.0M (revenue +4.4% year-over-year).
- 2014: Revenue of $680K, expenses of $683K, and assets of $1.0M (revenue -15.7% year-over-year).
- 2013: Revenue of $807K, expenses of $463K, and assets of $1.1M (revenue +68.2% year-over-year).
- 2012: Revenue of $480K, expenses of $461K, and assets of $120K (revenue +24.1% year-over-year).
- 2011: Revenue of $386K, expenses of $385K, and assets of $103K.
Data Sources and Methodology
This transparency report for The Scrap Exchange 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.