Underground Network Incorporated
Underground Network Incorporated faces declining revenue and assets, frequently operating at a deficit, but reports no officer compensation or liabilities in recent years.
EIN: 204722214 · Tampa, FL · NTEE: X20 · Updated: 2026-03-28
Is Underground Network Incorporated Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Underground Network Incorporated directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Underground Network Incorporated
Underground Network Incorporated (EIN: 204722214) is a nonprofit organization based in Tampa, FL, classified under NTEE code X20. The organization reported total revenue of $1.2M and total assets of $527K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Underground Network Incorporated's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Underground Network Incorporated is a mid-size nonprofit that has been operating for 19 years, with 12 years of IRS 990 filings on record (2011–2022).
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
| Total Revenue | $808K |
| Total Expenses | $832K |
| Surplus / Deficit | $-23,745 |
| Total Assets | $343K |
| Net Assets | $343K |
| Operating Margin | -2.9% |
| Months of Reserves | 4.9 months |
Financial Health Grade: B
In 2022, Underground Network Incorporated reported a deficit of $24K with expenses exceeding revenue, holds 4.9 months of operating reserves (adequate).
Financial Trends
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | -36.4% | -47.2% | -6.4% |
| 2021 | -20.6% | +0.6% | -35.7% |
| 2020 | +24.6% | -12.1% | +0.2% |
| 2019 | -24.7% | -14.5% | -13.1% |
| 2018 | -11.7% | -12.7% | +5.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 7000 |
| 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 Underground Network Incorporated with a Mission Score of 70 out of 100 (Good). 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: 80%
- fundraising: 5%
According to IRS 990 filings, Underground Network Incorporated allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $24K, with expenses exceeding revenue.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers received compensation from the organization. This suggests a strong commitment to directing funds towards the organization's mission rather than executive salaries, especially for an organization with revenues historically exceeding $1 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 Underground Network Incorporated's IRS 990 filings:
- Consistent decline in revenue over the past decade, from over $2 million to $808,287 in 2022.
- Frequent operating deficits, with expenses exceeding revenue in 7 of the last 10 reported periods.
- Significant decrease in assets, from over $1.1 million in 2014 to $343,135 in 2022.
- Lack of detailed expense breakdown (program, admin, fundraising) in the provided summary data, limiting full efficiency assessment.
Strengths
The following positive indicators were identified for Underground Network Incorporated:
- Consistent reporting of 0% officer compensation, indicating strong commitment to mission over executive pay.
- Zero liabilities reported in the most recent two filings (2021 and 2022), suggesting sound debt management.
- Long history of IRS 990 filings (12 filings), demonstrating compliance and transparency.
- Maintained operations and continued to serve its mission despite financial fluctuations.
Frequently Asked Questions about Underground Network Incorporated
Is Underground Network Incorporated a legitimate charity?
Based on AI analysis of IRS 990 filings, Underground Network Incorporated (EIN: 204722214) some concerns. Mission Score: 70/100. 4 red flags identified, 4 strengths noted.
How does Underground Network Incorporated spend its money?
Underground Network Incorporated directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Underground Network Incorporated tax-deductible?
Underground Network Incorporated is registered as a tax-exempt nonprofit (EIN: 204722214). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Underground Network Incorporated a good charity?
Underground Network Incorporated exhibits both strengths and weaknesses. Its consistent reporting of 0% officer compensation and zero liabilities in recent years are strong positive indicators. However, the sustained decline in revenue and assets, coupled with frequent operating deficits, raises concerns about long-term financial stability and impact.
Why has the organization's revenue been declining?
The provided data does not specify the reasons for the revenue decline. Revenue has decreased from a peak of $2,059,871 in 2013 to $808,287 in 2022, suggesting potential challenges in fundraising, grant acquisition, or changes in program scope.
What is the significance of 0% officer compensation?
0% officer compensation means that no salaries or other forms of compensation were paid to the organization's officers. This is a significant positive for donors, as it implies that all funds are being used for programs, administrative costs, or fundraising, rather than executive salaries.
How has the organization's asset base changed?
The organization's assets have significantly decreased over the past decade, from a high of $1,100,968 in 2014 to $343,135 in 2022. This decline in assets could impact the organization's capacity for future growth or its ability to weather financial downturns.
Are the operating deficits a major concern?
Operating deficits, where expenses exceed revenue, occurred in 7 out of the last 10 reported periods, including the most recent two years (2021 and 2022). While not immediately catastrophic, a sustained pattern of deficits can erode an organization's reserves and threaten its long-term financial viability if not addressed.
Filing History
IRS 990 filing history for Underground Network Incorporated showing financial trends over 12 years of public records:
In its most recent filing year (2022), Underground Network Incorporated reported a deficit of $24K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2022 | $808K | $832K | $343K | $0 | — | View 990 |
| 2021 | $1.3M | $1.6M | $367K | $0 | — | View 990 |
| 2020 | $1.6M | $1.6M | $570K | $1K | — | View 990 |
| 2019 | $1.3M | $1.8M | $569K | $1K | — | View 990 |
| 2018 | $1.7M | $2.1M | $655K | $1K | — | View 990 |
| 2017 | $1.9M | $2.4M | $620K | $1K | — | — |
| 2016 | $1.7M | $1.8M | $940K | $17K | — | View 990 |
| 2015 | $1.5M | $1.6M | $930K | $2K | — | View 990 |
| 2014 | $1.9M | $1.9M | $1.1M | $11K | — | View 990 |
| 2013 | $2.1M | $1.6M | $983K | $35K | — | View 990 |
| 2012 | $1.1M | $1.1M | $293K | $12K | — | View 990 |
| 2011 | $0 | $0 | $0 | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2022: Revenue of $808K, expenses of $832K, and assets of $343K (revenue -36.4% year-over-year).
- 2021: Revenue of $1.3M, expenses of $1.6M, and assets of $367K (revenue -20.6% year-over-year).
- 2020: Revenue of $1.6M, expenses of $1.6M, and assets of $570K (revenue +24.6% year-over-year).
- 2019: Revenue of $1.3M, expenses of $1.8M, and assets of $569K (revenue -24.7% year-over-year).
- 2018: Revenue of $1.7M, expenses of $2.1M, and assets of $655K (revenue -11.7% year-over-year).
- 2017: Revenue of $1.9M, expenses of $2.4M, and assets of $620K (revenue +15.9% year-over-year).
- 2016: Revenue of $1.7M, expenses of $1.8M, and assets of $940K (revenue +13.2% year-over-year).
- 2015: Revenue of $1.5M, expenses of $1.6M, and assets of $930K (revenue -23.6% year-over-year).
- 2014: Revenue of $1.9M, expenses of $1.9M, and assets of $1.1M (revenue -6.5% year-over-year).
- 2013: Revenue of $2.1M, expenses of $1.6M, and assets of $983K (revenue +90.5% year-over-year).
- 2012: Revenue of $1.1M, expenses of $1.1M, and assets of $293K.
- 2011: Revenue of $0, expenses of $0, and assets of $0.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Underground Network Incorporated:
Data Sources and Methodology
This transparency report for Underground Network Incorporated 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.