Tried & True
Tried & True maintains stable finances with no officer compensation reported over a decade.
EIN: 202057887 · Harrisonburg, VA · NTEE: P29 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $220K |
| Total Expenses | $224K |
| Program Spending | 90% |
| Net Assets | $87K |
| Transparency Score | 92/100 |
Is Tried & True Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Tried & True directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Tried & True
Tried & True (EIN: 202057887) is a nonprofit organization based in Harrisonburg, VA, classified under NTEE code P29. The organization reported total revenue of $220K and total assets of $94K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Tried & True's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Tried & True is a small nonprofit that has been operating for 21 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 6.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $224K |
| Total Expenses | $224K |
| Surplus / Deficit | $-229 |
| Total Assets | $99K |
| Total Liabilities | $12K |
| Net Assets | $87K |
| Operating Margin | -0.1% |
| Debt-to-Asset Ratio | 12.0% |
| Months of Reserves | 5.3 months |
Financial Health Grade: B
In 2023, Tried & True reported a deficit of $229 with expenses exceeding revenue, holds 5.3 months of operating reserves (adequate), has a debt-to-asset ratio of 12.0% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Tried & True's revenue has grown at a compound annual growth rate (CAGR) of 6.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +0.5% | +4.3% | +9.8% |
| 2022 | +10.4% | +9.8% | +9.5% |
| 2021 | +26.0% | +54.5% | +8.4% |
| 2020 | -6.9% | +6.6% | +1.5% |
| 2019 | +11.1% | +0.6% | +6.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2005 |
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 Tried & True with a Mission Score of 92 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: 7%
- programs: 90%
- fundraising: 3%
According to IRS 990 filings, Tried & True allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. With 90% 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 deficit of $229, with expenses exceeding revenue.
- Debt-to-asset ratio: 12.0%.
Executive Compensation Analysis
Tried & True consistently reports 0% officer compensation across all available filings, indicating that no salaries are paid to its officers. This suggests a volunteer-led executive team or a highly efficient operational model where funds are not diverted to executive salaries.
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.
Strengths
The following positive indicators were identified for Tried & True:
- Consistent reporting of 0% officer compensation, indicating high efficiency and mission focus.
- Steady growth in revenue and assets over a decade, demonstrating financial stability and sustainability.
- Healthy asset-to-liability ratio, indicating strong financial health.
- Expenses closely align with revenue, suggesting prudent financial management and avoiding significant deficits.
- Long filing history (13 filings) indicates consistent compliance and transparency.
Frequently Asked Questions about Tried & True
Is Tried & True a legitimate charity?
Tried & True (EIN: 202057887) is a registered tax-exempt nonprofit based in Virginia. Our AI analysis gives it a Mission Score of 92/100. It has 13 years of IRS 990 filings on record. Total revenue: $220K. No red flags identified. 5 strengths noted. Financial health grade: B.
How does Tried & True spend its money?
Tried & True directs 90% of its spending to programs and services. Fundraising costs 3%. This exceeds the 65% industry benchmark.
Are donations to Tried & True tax-deductible?
Tried & True is registered as a tax-exempt nonprofit (EIN: 202057887). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Tried & True's spending goes to programs?
Tried & True directs 90% to programs, 3% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Tried & True compare to similar nonprofits?
With a transparency score of 92/100 (Excellent), Tried & True is above average for NTEE category P29 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Tried & True located?
Tried & True is headquartered in Harrisonburg, Virginia and files with the IRS under EIN 202057887. It is classified under NTEE code P29.
How many years of IRS 990 filings does Tried & True have?
Tried & True 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 $220K in total revenue.
How does Tried & True manage to operate without officer compensation?
The consistent reporting of 0% officer compensation suggests that the organization's leadership may be entirely volunteer-based, or that any compensation for leadership roles is categorized differently, though the former is more likely given the consistent reporting over many years.
What is the specific breakdown of program activities?
The provided IRS 990 summary data does not detail the specific program activities or their individual costs. Further investigation into the full 990 forms would be needed to understand the nature and scope of their programs.
Is the recent increase in liabilities (from $2,837 in 2022 to $11,905 in 2023) a concern?
While there was an increase in liabilities in 2023, the organization's assets ($99,287) still significantly outweigh its liabilities ($11,905), maintaining a healthy financial position. This increase could be due to various factors like timing of payments or short-term operational needs and does not immediately signal a red flag.
Filing History
IRS 990 filing history for Tried & True showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Tried & True's revenue has grown by 110.2%, moving from $106K to $224K. Total assets increased by 157.2% over the same period, from $39K to $99K. Total functional expenses rose by 131.9%, from $97K to $224K. In its most recent filing year (2023), Tried & True reported a deficit of $229, with expenses exceeding revenue. The organization holds $12K in liabilities against $99K in assets (debt-to-asset ratio: 12.0%), resulting in net assets of $87K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $224K | $224K | $99K | $12K | — | — |
| 2022 | $223K | $215K | $90K | $3K | — | View 990 |
| 2021 | $202K | $195K | $83K | $3K | — | — |
| 2020 | $160K | $127K | $76K | $3K | — | — |
| 2019 | $172K | $119K | $75K | $2K | — | View 990 |
| 2018 | $155K | $118K | $70K | $2K | — | View 990 |
| 2017 | $133K | $114K | $64K | $2K | — | View 990 |
| 2016 | $123K | $112K | $61K | $3K | — | View 990 |
| 2015 | $122K | $114K | $55K | $2K | — | View 990 |
| 2014 | $118K | $116K | $47K | $2K | — | View 990 |
| 2013 | $120K | $115K | $46K | $3K | — | View 990 |
| 2012 | $122K | $117K | $41K | $3K | — | View 990 |
| 2011 | $106K | $97K | $39K | $3K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $224K, expenses of $224K, and assets of $99K (revenue +0.5% year-over-year).
- 2022: Revenue of $223K, expenses of $215K, and assets of $90K (revenue +10.4% year-over-year).
- 2021: Revenue of $202K, expenses of $195K, and assets of $83K (revenue +26.0% year-over-year).
- 2020: Revenue of $160K, expenses of $127K, and assets of $76K (revenue -6.9% year-over-year).
- 2019: Revenue of $172K, expenses of $119K, and assets of $75K (revenue +11.1% year-over-year).
- 2018: Revenue of $155K, expenses of $118K, and assets of $70K (revenue +16.1% year-over-year).
- 2017: Revenue of $133K, expenses of $114K, and assets of $64K (revenue +7.9% year-over-year).
- 2016: Revenue of $123K, expenses of $112K, and assets of $61K (revenue +0.9% year-over-year).
- 2015: Revenue of $122K, expenses of $114K, and assets of $55K (revenue +3.7% year-over-year).
- 2014: Revenue of $118K, expenses of $116K, and assets of $47K (revenue -1.5% year-over-year).
- 2013: Revenue of $120K, expenses of $115K, and assets of $46K (revenue -1.8% year-over-year).
- 2012: Revenue of $122K, expenses of $117K, and assets of $41K (revenue +14.6% year-over-year).
- 2011: Revenue of $106K, expenses of $97K, and assets of $39K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Tried & True:
Data Sources and Methodology
This transparency report for Tried & True 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.