Tools Of The Mind
EIN: 832864497 · Shirley, MA · NTEE: X20
| Metric | Value |
|---|---|
| Total Revenue | $6.4M |
| Total Expenses | $4.2M |
| Net Assets | $6.4M |
Is Tools Of The Mind Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Tools Of The Mind
Tools Of The Mind (EIN: 832864497) is a nonprofit organization based in Shirley, MA, classified under NTEE code X20. The organization reported total revenue of $6.4M and total assets of $8.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Tools Of The Mind's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Tools Of The Mind is a mid-size nonprofit that has been operating for 7 years, with 5 years of IRS 990 filings on record (2019–2023). Revenue has grown at a compound annual rate of 67.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $5.8M |
| Total Expenses | $4.2M |
| Surplus / Deficit | +$1.6M |
| Total Assets | $6.8M |
| Total Liabilities | $437K |
| Net Assets | $6.4M |
| Operating Margin | 27.4% |
| Debt-to-Asset Ratio | 6.4% |
| Months of Reserves | 19.4 months |
Financial Health Grade: A
In 2023, Tools Of The Mind reported a surplus of $1.6M with revenue exceeding expenses, holds 19.4 months of operating reserves (strong position), has a debt-to-asset ratio of 6.4% (very low leverage).
Financial Trends
Over 5 years of filings (2019–2023), Tools Of The Mind's revenue has grown at a compound annual growth rate (CAGR) of 67.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +24.8% | +10.6% | +32.4% |
| 2022 | -12.0% | +21.6% | +9.8% |
| 2021 | +34.6% | +9.7% | +87.2% |
| 2020 | +433.7% | +15454.0% | +211.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2019 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Tools Of The Mind 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 Tools Of The Mind 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 surplus of $1.6M, with revenue exceeding expenses.
- Debt-to-asset ratio: 6.4%.
Frequently Asked Questions about Tools Of The Mind
Is Tools Of The Mind a legitimate charity?
Based on AI analysis of IRS 990 filings, Tools Of The Mind (EIN: 832864497) insufficient data. 0 red flags identified, 0 strengths noted.
How does Tools Of The Mind spend its money?
Detailed spending breakdown data is not yet available for Tools Of The Mind. Check back for updated IRS 990 analysis.
Are donations to Tools Of The Mind tax-deductible?
Tools Of The Mind is registered as a tax-exempt nonprofit (EIN: 832864497). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Tools Of The Mind located?
Tools Of The Mind is headquartered in Shirley, Massachusetts and files with the IRS under EIN 832864497. It is classified under NTEE code X20.
How many years of IRS 990 filings does Tools Of The Mind have?
Tools Of The Mind has 5 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 $6.4M in total revenue.
Filing History
IRS 990 filing history for Tools Of The Mind showing financial trends over 5 years of public records:
Over 5 years of IRS 990 filings (2019–2023), Tools Of The Mind's revenue has grown by 688.7%, moving from $735K to $5.8M. Total assets increased by 746.8% over the same period, from $803K to $6.8M. Total functional expenses rose by 22860.3%, from $18K to $4.2M. In its most recent filing year (2023), Tools Of The Mind reported a surplus of $1.6M, with revenue exceeding expenses. The organization holds $437K in liabilities against $6.8M in assets (debt-to-asset ratio: 6.4%), resulting in net assets of $6.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $5.8M | $4.2M | $6.8M | $437K | — | View 990 |
| 2022 | $4.6M | $3.8M | $5.1M | $361K | — | View 990 |
| 2021 | $5.3M | $3.1M | $4.7M | $743K | — | — |
| 2020 | $3.9M | $2.9M | $2.5M | $713K | — | View 990 |
| 2019 | $735K | $18K | $803K | $86K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $5.8M, expenses of $4.2M, and assets of $6.8M (revenue +24.8% year-over-year).
- 2022: Revenue of $4.6M, expenses of $3.8M, and assets of $5.1M (revenue -12.0% year-over-year).
- 2021: Revenue of $5.3M, expenses of $3.1M, and assets of $4.7M (revenue +34.6% year-over-year).
- 2020: Revenue of $3.9M, expenses of $2.9M, and assets of $2.5M (revenue +433.7% year-over-year).
- 2019: Revenue of $735K, expenses of $18K, and assets of $803K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Tools Of The Mind:
Data Sources and Methodology
This transparency report for Tools Of The Mind 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.