The Studios Of Key West Inc

The Studios Of Key West Inc shows consistent asset growth and positive operating margins with no reported officer compensation.

EIN: 205116495 · Key West, FL · NTEE: A400 · Updated: 2026-03-28

$3.4MRevenue

$15.2MAssets

85/100Mission Score (Excellent)

A400

About The Studios Of Key West Inc

The Studios Of Key West Inc (EIN: 205116495) is a nonprofit organization based in Key West, FL, classified under NTEE code A400. The organization reported total revenue of $3.4M and total assets of $15.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of The Studios Of Key West Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

The Studios Of Key West Inc demonstrates a generally healthy financial position with consistent asset growth over the past decade, reaching $15,249,372 in assets by the 202306 period. The organization has consistently reported positive net income in recent years, with revenue exceeding expenses, such as in 202306 where revenue was $2,702,929 against expenses of $2,463,896. This indicates sound financial management and an ability to build reserves. The organization's liabilities have remained manageable relative to its assets, suggesting a stable balance sheet.

While specific program, administrative, and fundraising expense breakdowns are not provided in the summary data, the consistent growth in assets and positive operating margins suggest efficient use of funds. The absence of reported officer compensation across all provided periods is a notable aspect of its financial transparency, indicating that top leadership may be volunteer-based or compensated through other means not categorized as 'Officer Comp' in this summary. This practice, if accurate, could contribute to lower administrative overhead.

Overall, The Studios Of Key West Inc appears to be a financially stable and growing organization. Its consistent revenue generation, controlled expenses, and significant asset base point to a well-managed nonprofit capable of sustaining its mission. The lack of reported officer compensation also suggests a commitment to minimizing overhead, which is a positive indicator for donors.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates The Studios Of Key West 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: 15%
programs: 75%
fundraising: 10%

According to IRS 990 filings, The Studios Of Key West 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.

Executive Compensation Analysis

The organization consistently reports 0% officer compensation across all provided filing periods, suggesting that top leadership may be volunteer-based or compensated through non-officer roles, which is highly unusual for an organization of its size with assets exceeding $15 million.

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 Studios Of Key West Inc's IRS 990 filings:

No reported officer compensation for an organization with over $15 million in assets, which could indicate compensation is reported under other categories or that leadership is entirely volunteer, warranting further investigation for transparency.

Strengths

The following positive indicators were identified for The Studios Of Key West Inc:

Consistent asset growth, from $4.3M in 2014 to over $15.2M in 2023, indicating strong financial management and stability.
Positive operating margins in recent years (e.g., $2,702,929 revenue vs. $2,463,896 expenses in 202306), demonstrating financial sustainability.
No reported officer compensation, suggesting a potential commitment to minimizing administrative overhead or a volunteer-led executive team.
Manageable liabilities relative to assets, indicating a healthy balance sheet and low financial risk.

Frequently Asked Questions about The Studios Of Key West Inc

Is The Studios Of Key West Inc a good charity?

Based on the provided financial data, The Studios Of Key West Inc appears to be a financially sound organization with consistent asset growth and positive operating margins. The absence of reported officer compensation is a notable positive for efficiency.

How has the organization's financial health changed over time?

The organization has shown significant financial growth, with assets increasing from $4,324,210 in 201406 to $15,249,372 in 202306. Revenue has fluctuated but generally remained strong, and expenses have been managed to maintain positive net income in most recent years.

What is the trend in revenue and expenses?

Revenue has varied, peaking at $4,101,196 in 202006 and most recently at $2,702,929 in 202306. Expenses have generally been lower than revenue in recent periods, indicating efficient operations, for example, $2,463,896 in expenses against $2,702,929 in revenue for 202306.

Filing History

IRS 990 filing history for The Studios Of Key West Inc showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), The Studios Of Key West Inc's revenue has grown by 137.8%, moving from $1.1M to $2.7M. Total assets increased by 441.5% over the same period, from $2.8M to $15.2M. Total functional expenses rose by 233.8%, from $738K to $2.5M. In its most recent filing year (2023), The Studios Of Key West Inc reported a surplus of $239K, with revenue exceeding expenses. The organization holds $2.1M in liabilities against $15.2M in assets (debt-to-asset ratio: 13.5%), resulting in net assets of $13.2M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$2.7M	$2.5M	$15.2M	$2.1M	—	—
2022	$3.2M	$2.0M	$14.9M	$2.0M	—	View 990
2021	$3.9M	$1.5M	$14.0M	$2.1M	—	View 990
2020	$4.1M	$2.0M	$12.0M	$3.4M	—	View 990
2019	$1.8M	$2.2M	$8.7M	$2.2M	—	View 990
2018	$1.8M	$2.0M	$9.1M	$2.1M	—	View 990
2017	$2.5M	$1.9M	$9.1M	$2.0M	—	View 990
2016	$1.1M	$1.4M	$8.4M	$1.9M	—	View 990
2015	$3.4M	$906K	$9.6M	$2.8M	—	View 990
2014	$2.1M	$934K	$4.3M	$2.2M	—	View 990
2013	$1.2M	$782K	$1.1M	$189K	—	View 990
2012	$1.0M	$3.4M	$367K	$42K	—	View 990
2011	$1.1M	$738K	$2.8M	$40K	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $2.7M, expenses of $2.5M, and assets of $15.2M (revenue -15.7% year-over-year).
2022: Revenue of $3.2M, expenses of $2.0M, and assets of $14.9M (revenue -17.9% year-over-year).
2021: Revenue of $3.9M, expenses of $1.5M, and assets of $14.0M (revenue -4.7% year-over-year).
2020: Revenue of $4.1M, expenses of $2.0M, and assets of $12.0M (revenue +131.0% year-over-year).
2019: Revenue of $1.8M, expenses of $2.2M, and assets of $8.7M (revenue -3.8% year-over-year).
2018: Revenue of $1.8M, expenses of $2.0M, and assets of $9.1M (revenue -26.5% year-over-year).
2017: Revenue of $2.5M, expenses of $1.9M, and assets of $9.1M (revenue +125.8% year-over-year).
2016: Revenue of $1.1M, expenses of $1.4M, and assets of $8.4M (revenue -67.5% year-over-year).
2015: Revenue of $3.4M, expenses of $906K, and assets of $9.6M (revenue +60.0% year-over-year).
2014: Revenue of $2.1M, expenses of $934K, and assets of $4.3M (revenue +77.8% year-over-year).
2013: Revenue of $1.2M, expenses of $782K, and assets of $1.1M (revenue +19.5% year-over-year).
2012: Revenue of $1.0M, expenses of $3.4M, and assets of $367K (revenue -11.4% year-over-year).
2011: Revenue of $1.1M, expenses of $738K, and assets of $2.8M.

Data Sources and Methodology

This transparency report for The Studios Of Key West 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.