True Colors Inc
EIN: 61537001 · Hartford, CT · NTEE: R26
| Metric | Value |
|---|---|
| Total Revenue | $461K |
| Total Expenses | $562K |
| Net Assets | $178K |
Is True Colors Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About True Colors Inc
True Colors Inc (EIN: 61537001) is a nonprofit organization based in Hartford, CT, classified under NTEE code R26. The organization reported total revenue of $461K and total assets of $184K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of True Colors Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
True Colors Inc is a small nonprofit that has been operating for 27 years, with 10 years of IRS 990 filings on record (2011–2020). Revenue has grown at a compound annual rate of -1.0%.
Key Financial Metrics (2020)
From the most recent IRS 990 filing on record:
| Total Revenue | $461K |
| Total Expenses | $562K |
| Surplus / Deficit | $-100,357 |
| Total Assets | $184K |
| Total Liabilities | $6K |
| Net Assets | $178K |
| Operating Margin | -21.8% |
| Debt-to-Asset Ratio | 3.4% |
| Months of Reserves | 3.9 months |
Financial Health Grade: B
In 2020, True Colors Inc reported a deficit of $100K with expenses exceeding revenue, holds 3.9 months of operating reserves (adequate), has a debt-to-asset ratio of 3.4% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2020), True Colors Inc's revenue has declined at a compound annual growth rate (CAGR) of -1.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2020 | -26.8% | +0.4% | -36.5% |
| 2019 | +4.2% | -11.3% | +31.8% |
| 2018 | +15.3% | +8.0% | -12.4% |
| 2017 | -15.0% | -4.9% | -21.5% |
| 2016 | +2.5% | +8.7% | +2.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1999 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for True Colors 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 True Colors 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 (2020)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $100K, with expenses exceeding revenue.
- Debt-to-asset ratio: 3.4%.
Frequently Asked Questions about True Colors Inc
Is True Colors Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, True Colors Inc (EIN: 61537001) insufficient data. 0 red flags identified, 0 strengths noted.
How does True Colors Inc spend its money?
Detailed spending breakdown data is not yet available for True Colors Inc. Check back for updated IRS 990 analysis.
Are donations to True Colors Inc tax-deductible?
True Colors Inc is registered as a tax-exempt nonprofit (EIN: 61537001). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is True Colors Inc located?
True Colors Inc is headquartered in Hartford, Connecticut and files with the IRS under EIN 61537001. It is classified under NTEE code R26.
How many years of IRS 990 filings does True Colors Inc have?
True Colors Inc has 10 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 $461K in total revenue.
Filing History
IRS 990 filing history for True Colors Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2020), True Colors Inc's revenue has declined by 8.3%, moving from $503K to $461K. Total assets decreased by 35.1% over the same period, from $283K to $184K. Total functional expenses rose by 19.7%, from $469K to $562K. In its most recent filing year (2020), True Colors Inc reported a deficit of $100K, with expenses exceeding revenue. The organization holds $6K in liabilities against $184K in assets (debt-to-asset ratio: 3.4%), resulting in net assets of $178K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2020 | $461K | $562K | $184K | $6K | — | — |
| 2019 | $630K | $559K | $290K | $12K | — | View 990 |
| 2018 | $605K | $631K | $220K | $13K | — | View 990 |
| 2017 | $525K | $584K | $251K | $17K | — | View 990 |
| 2016 | $617K | $615K | $320K | $26K | — | View 990 |
| 2015 | $602K | $565K | $313K | $23K | — | View 990 |
| 2014 | $544K | $514K | $283K | $30K | — | View 990 |
| 2013 | $501K | $512K | $255K | $28K | — | View 990 |
| 2012 | $465K | $483K | $267K | $29K | — | View 990 |
| 2011 | $503K | $469K | $283K | $28K | — | View 990 |
Year-by-Year Financial Summary
- 2020: Revenue of $461K, expenses of $562K, and assets of $184K (revenue -26.8% year-over-year).
- 2019: Revenue of $630K, expenses of $559K, and assets of $290K (revenue +4.2% year-over-year).
- 2018: Revenue of $605K, expenses of $631K, and assets of $220K (revenue +15.3% year-over-year).
- 2017: Revenue of $525K, expenses of $584K, and assets of $251K (revenue -15.0% year-over-year).
- 2016: Revenue of $617K, expenses of $615K, and assets of $320K (revenue +2.5% year-over-year).
- 2015: Revenue of $602K, expenses of $565K, and assets of $313K (revenue +10.6% year-over-year).
- 2014: Revenue of $544K, expenses of $514K, and assets of $283K (revenue +8.7% year-over-year).
- 2013: Revenue of $501K, expenses of $512K, and assets of $255K (revenue +7.7% year-over-year).
- 2012: Revenue of $465K, expenses of $483K, and assets of $267K (revenue -7.5% year-over-year).
- 2011: Revenue of $503K, expenses of $469K, and assets of $283K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for True Colors Inc:
Data Sources and Methodology
This transparency report for True Colors 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.