Turning Around Ministries Inc
Turning Around Ministries Inc shows recent financial growth with no reported executive compensation.
EIN: 205373090 · Newport, RI · NTEE: I40 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $152K |
| Total Expenses | $150K |
| Program Spending | 85% |
| Net Assets | $85K |
| Transparency Score | 85/100 |
Is Turning Around Ministries Inc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Turning Around Ministries Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Turning Around Ministries Inc
Turning Around Ministries Inc (EIN: 205373090) is a nonprofit organization based in Newport, RI, classified under NTEE code I40. The organization reported total revenue of $152K and total assets of $61K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Turning Around Ministries Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Turning Around Ministries Inc is a small nonprofit that has been operating for 19 years, with 14 years of IRS 990 filings on record (2011–2024). Revenue has grown at a compound annual rate of 13.8%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $177K |
| Total Expenses | $150K |
| Surplus / Deficit | +$28K |
| Total Assets | $87K |
| Total Liabilities | $2K |
| Net Assets | $85K |
| Operating Margin | 15.5% |
| Debt-to-Asset Ratio | 2.6% |
| Months of Reserves | 7.0 months |
Financial Health Grade: A
In 2024, Turning Around Ministries Inc reported a surplus of $28K with revenue exceeding expenses, holds 7.0 months of operating reserves (strong position), has a debt-to-asset ratio of 2.6% (very low leverage).
Financial Trends
Over 14 years of filings (2011–2024), Turning Around Ministries Inc's revenue has grown at a compound annual growth rate (CAGR) of 13.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +42.5% | +45.8% | +46.0% |
| 2023 | +114.5% | +73.0% | +67.5% |
| 2022 | -1.7% | -34.6% | -1.7% |
| 2021 | -29.4% | +156.3% | -46.7% |
| 2020 | +131.8% | +6.8% | +242.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2007 |
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 Turning Around Ministries 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Turning Around Ministries Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $28K, with revenue exceeding expenses.
- Debt-to-asset ratio: 2.6%.
Executive Compensation Analysis
Turning Around Ministries Inc consistently reports 0% officer compensation across all 14 available filings, indicating that no funds are allocated to executive salaries, which is highly commendable for an organization of its size.
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 Turning Around Ministries Inc:
- Consistent 0% officer compensation across all filings, indicating strong commitment to mission spending.
- Significant revenue growth in recent years, from $58,061 in 202206 to $177,423 in 202406.
- Positive net assets and operational surpluses in recent periods (e.g., 202406 and 202306), contributing to financial stability.
- Low liabilities relative to assets, with only $2,304 in liabilities against $87,301 in assets in 202406.
Frequently Asked Questions about Turning Around Ministries Inc
Is Turning Around Ministries Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Turning Around Ministries Inc (EIN: 205373090) appears legitimate. Mission Score: 85/100. 0 red flags identified, 4 strengths noted.
How does Turning Around Ministries Inc spend its money?
Turning Around Ministries Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Turning Around Ministries Inc tax-deductible?
Turning Around Ministries Inc is registered as a tax-exempt nonprofit (EIN: 205373090). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Turning Around Ministries Inc's spending goes to programs?
Turning Around Ministries Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Turning Around Ministries Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Turning Around Ministries Inc is above average for NTEE category I40 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Turning Around Ministries Inc located?
Turning Around Ministries Inc is headquartered in Newport, Rhode Island and files with the IRS under EIN 205373090. It is classified under NTEE code I40.
How many years of IRS 990 filings does Turning Around Ministries Inc have?
Turning Around Ministries Inc has 14 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 $152K in total revenue.
How has Turning Around Ministries Inc managed to increase its revenue significantly in recent years?
The organization's revenue has seen substantial growth, particularly from $58,061 in 202206 to $177,423 in 202406, suggesting successful fundraising or program expansion efforts.
What are the primary programs offered by Turning Around Ministries Inc?
Based on the NTEE code I40 (Religious Activities), the organization likely focuses on religious-based programs, though specific program details are not available in the provided financial summary.
Does the organization have sufficient reserves to cover unexpected expenses?
With assets of $87,301 and liabilities of $2,304 in 202406, the organization appears to have a healthy financial cushion relative to its annual expenses of $149,884, indicating some capacity for reserves.
Filing History
IRS 990 filing history for Turning Around Ministries Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2024), Turning Around Ministries Inc's revenue has grown by 436.7%, moving from $33K to $177K. Total assets increased by 562.9% over the same period, from $13K to $87K. Total functional expenses rose by 394.5%, from $30K to $150K. In its most recent filing year (2024), Turning Around Ministries Inc reported a surplus of $28K, with revenue exceeding expenses. The organization holds $2K in liabilities against $87K in assets (debt-to-asset ratio: 2.6%), resulting in net assets of $85K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $177K | $150K | $87K | $2K | — | — |
| 2023 | $125K | $103K | $60K | $2K | — | View 990 |
| 2022 | $58K | $59K | $36K | $0 | — | View 990 |
| 2021 | $59K | $91K | $36K | $0 | — | View 990 |
| 2020 | $84K | $35K | $68K | $0 | — | View 990 |
| 2019 | $36K | $33K | $20K | $0 | — | View 990 |
| 2018 | $33K | $32K | $17K | $0 | — | View 990 |
| 2017 | $46K | $38K | $17K | $0 | — | View 990 |
| 2016 | $38K | $44K | $8K | $0 | — | View 990 |
| 2015 | $30K | $29K | $13K | $0 | — | View 990 |
| 2014 | $34K | $53K | $8K | $0 | — | View 990 |
| 2013 | $67K | $50K | $22K | $0 | — | View 990 |
| 2012 | $32K | $35K | $10K | $0 | — | View 990 |
| 2011 | $33K | $30K | $13K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $177K, expenses of $150K, and assets of $87K (revenue +42.5% year-over-year).
- 2023: Revenue of $125K, expenses of $103K, and assets of $60K (revenue +114.5% year-over-year).
- 2022: Revenue of $58K, expenses of $59K, and assets of $36K (revenue -1.7% year-over-year).
- 2021: Revenue of $59K, expenses of $91K, and assets of $36K (revenue -29.4% year-over-year).
- 2020: Revenue of $84K, expenses of $35K, and assets of $68K (revenue +131.8% year-over-year).
- 2019: Revenue of $36K, expenses of $33K, and assets of $20K (revenue +11.0% year-over-year).
- 2018: Revenue of $33K, expenses of $32K, and assets of $17K (revenue -29.8% year-over-year).
- 2017: Revenue of $46K, expenses of $38K, and assets of $17K (revenue +21.6% year-over-year).
- 2016: Revenue of $38K, expenses of $44K, and assets of $8K (revenue +26.9% year-over-year).
- 2015: Revenue of $30K, expenses of $29K, and assets of $13K (revenue -11.3% year-over-year).
- 2014: Revenue of $34K, expenses of $53K, and assets of $8K (revenue -49.6% year-over-year).
- 2013: Revenue of $67K, expenses of $50K, and assets of $22K (revenue +107.9% year-over-year).
- 2012: Revenue of $32K, expenses of $35K, and assets of $10K (revenue -2.3% year-over-year).
- 2011: Revenue of $33K, expenses of $30K, and assets of $13K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Turning Around Ministries Inc:
Data Sources and Methodology
This transparency report for Turning Around Ministries 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.