Verona United Soccer Assoc Inc
Verona United Soccer Assoc Inc: Declining Revenue, High Expenses, and Limited Transparency
EIN: 221271029 · Verona, NJ · NTEE: N64 · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $159K |
| Total Expenses | $246K |
| Program Spending | 70% |
| Net Assets | $32K |
| Transparency Score | 65/100 |
Is Verona United Soccer Assoc Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Verona United Soccer Assoc Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Verona United Soccer Assoc Inc
Verona United Soccer Assoc Inc (EIN: 221271029) is a nonprofit organization based in Verona, NJ, classified under NTEE code N64. The organization reported total revenue of $159K and total assets of $157K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Verona United Soccer Assoc Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Verona United Soccer Assoc Inc is a small nonprofit that has been operating for 19 years, with 12 years of IRS 990 filings on record (2011–2022). Revenue has grown at a compound annual rate of 2.4%.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
| Total Revenue | $159K |
| Total Expenses | $246K |
| Surplus / Deficit | $-87,110 |
| Total Assets | $157K |
| Total Liabilities | $125K |
| Net Assets | $32K |
| Operating Margin | -54.7% |
| Debt-to-Asset Ratio | 79.9% |
| Months of Reserves | 7.7 months |
Financial Health Grade: C
In 2022, Verona United Soccer Assoc Inc reported a deficit of $87K with expenses exceeding revenue, holds 7.7 months of operating reserves (strong position), has a debt-to-asset ratio of 79.9% (high leverage).
Financial Trends
Over 12 years of filings (2011–2022), Verona United Soccer Assoc Inc's revenue has grown at a compound annual growth rate (CAGR) of 2.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | -38.6% | +40.7% | +29.8% |
| 2021 | +81.5% | +7.7% | +40.0% |
| 2020 | -31.5% | -23.0% | -44.8% |
| 2019 | -3.0% | +4.6% | +1.7% |
| 2018 | -10.6% | -11.0% | +59.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| 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 Verona United Soccer Assoc Inc with a Mission Score of 65 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: 70%
- fundraising: 15%
According to IRS 990 filings, Verona United Soccer Assoc Inc allocates its expenses as follows: admin: 15%, programs: 70%, fundraising: 15%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $87K, with expenses exceeding revenue.
- Debt-to-asset ratio: 79.9%.
Executive Compensation Analysis
Executive compensation is not reported in available public filings, indicating either no paid executives or compensation below reporting thresholds.
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 Verona United Soccer Assoc Inc's IRS 990 filings:
- Revenue has significantly declined from $259,360 in 2021 to $159,290 in 2022, a 38.6% drop.
- Expenses consistently exceed revenue in multiple years (e.g., 2022: revenue $159,290, expenses $246,400; 2020: revenue $142,924, expenses $162,543).
- Liabilities have increased substantially from $2,300 in 2021 to $125,496 in 2022, raising concerns about financial stability.
- The organization's net assets have shown inconsistent growth and even decline in some periods.
Strengths
The following positive indicators were identified for Verona United Soccer Assoc Inc:
- Maintains a consistent presence in the community, providing soccer programs for several years.
- Assets have generally increased over the long term, from $70,475 in 2016 to $157,092 in 2022.
Frequently Asked Questions about Verona United Soccer Assoc Inc
Is Verona United Soccer Assoc Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Verona United Soccer Assoc Inc (EIN: 221271029) some concerns. Mission Score: 65/100. 4 red flags identified, 2 strengths noted.
How does Verona United Soccer Assoc Inc spend its money?
Verona United Soccer Assoc Inc directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Verona United Soccer Assoc Inc tax-deductible?
Verona United Soccer Assoc Inc is registered as a tax-exempt nonprofit (EIN: 221271029). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Verona United Soccer Assoc Inc's spending goes to programs?
Verona United Soccer Assoc Inc directs 70% to programs, 15% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
How does Verona United Soccer Assoc Inc compare to similar nonprofits?
With a transparency score of 65/100 (Good), Verona United Soccer Assoc Inc is above average for NTEE category N64 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Verona United Soccer Assoc Inc located?
Verona United Soccer Assoc Inc is headquartered in Verona, New Jersey and files with the IRS under EIN 221271029. It is classified under NTEE code N64.
How many years of IRS 990 filings does Verona United Soccer Assoc Inc have?
Verona United Soccer Assoc Inc has 12 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 $159K in total revenue.
What does Verona United Soccer Assoc Inc do?
Verona United Soccer Assoc Inc is a nonprofit organization in the Recreation & Sports sector, located in Verona, New Jersey. It is classified under NTEE code N64.
How much revenue does Verona United Soccer Assoc Inc have?
Verona United Soccer Assoc Inc reported total revenue of $159,290. Based on 12 IRS 990 filings on record.
What are Verona United Soccer Assoc Inc's total assets?
Verona United Soccer Assoc Inc holds total assets of $157,092 as reported in IRS 990 filings.
Where is Verona United Soccer Assoc Inc located?
Verona United Soccer Assoc Inc is based in Verona, New Jersey.
What is Verona United Soccer Assoc Inc's EIN?
Verona United Soccer Assoc Inc's Employer Identification Number (EIN) is 221271029. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Verona United Soccer Assoc Inc?
Verona United Soccer Assoc Inc is classified under NTEE code N64 (Recreation & Sports).
Is Verona United Soccer Assoc Inc a registered 501(c)(3)?
Yes, Verona United Soccer Assoc Inc is recognized as a tax-exempt organization by the IRS. EIN: 221271029.
Does Verona United Soccer Assoc Inc file IRS Form 990?
Yes, Verona United Soccer Assoc Inc has 12 IRS Form 990 filings on record. The most recent covers tax period 202207.
What was Verona United Soccer Assoc Inc's revenue in 2022?
In the 202207 filing period, Verona United Soccer Assoc Inc reported total revenue of $159,290, total expenses of $246,400, and net assets of $157,092.
Is Verona United Soccer Assoc Inc's revenue growing or declining?
Verona United Soccer Assoc Inc's revenue is declining. Revenue went from $259,360 (202107) to $159,290 (202207), a -38.6% change. Based on 12 filings on record.
What is Verona United Soccer Assoc Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Verona United Soccer Assoc Inc covers tax period 202207. It shows revenue of $159,290, expenses of $246,400, total assets of $157,092, and liabilities of $125,496.
How much does Verona United Soccer Assoc Inc spend on programs vs administration?
Based on IRS 990 analysis, Verona United Soccer Assoc Inc allocates approximately 70% of expenses to program services, 15% to administrative costs, and 15% to fundraising. Program spending is moderate relative to overhead.
Is Verona United Soccer Assoc Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Verona United Soccer Assoc Inc shows mixed signals. Mission Score: 65/100 (Good). 4 red flags identified. 2 strengths noted.
What are the red flags for Verona United Soccer Assoc Inc?
The following concerns were identified: Revenue has significantly declined from $259,360 in 2021 to $159,290 in 2022, a 38.6% drop.. Expenses consistently exceed revenue in multiple years (e.g., 2022: revenue $159,290, expenses $246,400; 2020: revenue $142,924, expenses $162,543).. Liabilities have increased substantially from $2,300 in 2021 to $125,496 in 2022, raising concerns about financial stability.. The organization's net assets have shown inconsistent growth and even decline in some periods.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Verona United Soccer Assoc Inc's strengths?
Positive indicators for Verona United Soccer Assoc Inc include: Maintains a consistent presence in the community, providing soccer programs for several years.. Assets have generally increased over the long term, from $70,475 in 2016 to $157,092 in 2022.. These findings are derived from AI analysis of the organization's financial filings.
How does Verona United Soccer Assoc Inc compensate executives?
Executive compensation is not reported in available public filings, indicating either no paid executives or compensation below reporting thresholds. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How transparent is Verona United Soccer Assoc Inc?
• Financial statements are not readily available on their website or common charity aggregators. • Detailed program spending breakdowns are not provided in public filings. • No clear explanation for significant year-over-year fluctuations in revenue and expenses. Transparency assessment is based on the availability and consistency of IRS 990 filing data, spending disclosure, and governance indicators.
What is driving the significant increase in liabilities from $2,300 in 2021 to $125,496 in 2022, and how does the organization plan to address this?
The filings do not specify the nature of the increased liabilities, but this substantial jump suggests a new debt or obligation that could impact future financial health. Without further detail, it's difficult to assess the specific cause or repayment strategy.
Given the consistent trend of expenses exceeding revenue in recent years, what strategies are being implemented to achieve financial sustainability?
The provided data shows a pattern where expenses frequently outpace revenue, leading to a reliance on existing assets or new liabilities. The organization's filings do not detail specific strategies for cost control or revenue generation to reverse this trend.
Filing History
IRS 990 filing history for Verona United Soccer Assoc Inc showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2011–2022), Verona United Soccer Assoc Inc's revenue has grown by 29.2%, moving from $123K to $159K. Total assets increased by 180% over the same period, from $56K to $157K. Total functional expenses rose by 176.6%, from $89K to $246K. In its most recent filing year (2022), Verona United Soccer Assoc Inc reported a deficit of $87K, with expenses exceeding revenue. The organization holds $125K in liabilities against $157K in assets (debt-to-asset ratio: 79.9%), resulting in net assets of $32K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2022 | $159K | $246K | $157K | $125K | — | View 990 |
| 2021 | $259K | $175K | $121K | $2K | — | — |
| 2020 | $143K | $163K | $86K | $52K | — | View 990 |
| 2019 | $209K | $211K | $157K | $103K | — | View 990 |
| 2018 | $215K | $202K | $154K | $97K | — | View 990 |
| 2017 | $241K | $227K | $97K | $53K | — | View 990 |
| 2016 | $232K | $212K | $70K | $41K | — | View 990 |
| 2015 | $151K | $173K | $146K | $137K | — | View 990 |
| 2014 | $153K | $160K | $84K | $53K | — | View 990 |
| 2013 | $121K | $114K | $92K | $54K | — | View 990 |
| 2012 | $54K | $80K | $61K | $31K | — | View 990 |
| 2011 | $123K | $89K | $56K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2022: Revenue of $159K, expenses of $246K, and assets of $157K (revenue -38.6% year-over-year).
- 2021: Revenue of $259K, expenses of $175K, and assets of $121K (revenue +81.5% year-over-year).
- 2020: Revenue of $143K, expenses of $163K, and assets of $86K (revenue -31.5% year-over-year).
- 2019: Revenue of $209K, expenses of $211K, and assets of $157K (revenue -3.0% year-over-year).
- 2018: Revenue of $215K, expenses of $202K, and assets of $154K (revenue -10.6% year-over-year).
- 2017: Revenue of $241K, expenses of $227K, and assets of $97K (revenue +3.6% year-over-year).
- 2016: Revenue of $232K, expenses of $212K, and assets of $70K (revenue +53.5% year-over-year).
- 2015: Revenue of $151K, expenses of $173K, and assets of $146K (revenue -0.9% year-over-year).
- 2014: Revenue of $153K, expenses of $160K, and assets of $84K (revenue +25.7% year-over-year).
- 2013: Revenue of $121K, expenses of $114K, and assets of $92K (revenue +123.3% year-over-year).
- 2012: Revenue of $54K, expenses of $80K, and assets of $61K (revenue -55.9% year-over-year).
- 2011: Revenue of $123K, expenses of $89K, and assets of $56K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Verona United Soccer Assoc Inc:
Data Sources and Methodology
This transparency report for Verona United Soccer Assoc 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.