Versability Resources Inc
EIN: 276203765 · Hampton, VA
Is Versability Resources Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Versability Resources Inc
Versability Resources Inc (EIN: 276203765) is a nonprofit organization based in Hampton, VA. The organization reported total revenue of $649K and total assets of $184K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Versability Resources Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Versability Resources Inc is a small nonprofit that has been operating for 17 years, with 12 years of IRS 990 filings on record (2011–2022). Revenue has grown at a compound annual rate of 6.4%.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
| Total Revenue | $649K |
| Total Expenses | $677K |
| Surplus / Deficit | $-27,953 |
| Total Assets | $184K |
| Total Liabilities | $327K |
| Net Assets | $-143,004 |
| Operating Margin | -4.3% |
| Debt-to-Asset Ratio | 177.5% |
| Months of Reserves | 3.3 months |
Financial Health Grade: C
In 2022, Versability Resources Inc reported a deficit of $28K with expenses exceeding revenue, holds 3.3 months of operating reserves (adequate), has a debt-to-asset ratio of 177.5% (high leverage).
Financial Trends
Over 12 years of filings (2011–2022), Versability Resources Inc's revenue has grown at a compound annual growth rate (CAGR) of 6.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | -8.9% | -6.8% | -19.1% |
| 2021 | +9.6% | +11.0% | +45.5% |
| 2020 | -0.4% | -1.3% | -0.7% |
| 2019 | +1.0% | -0.8% | -9.0% |
| 2018 | +7.1% | +9.3% | -13.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2009 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Versability Resources 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 Versability Resources 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 (2022)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $28K, with expenses exceeding revenue.
- Debt-to-asset ratio: 177.5%.
Frequently Asked Questions about Versability Resources Inc
Is Versability Resources Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Versability Resources Inc (EIN: 276203765) insufficient data. 0 red flags identified, 0 strengths noted.
How does Versability Resources Inc spend its money?
Detailed spending breakdown data is not yet available for Versability Resources Inc. Check back for updated IRS 990 analysis.
Are donations to Versability Resources Inc tax-deductible?
Versability Resources Inc is registered as a tax-exempt nonprofit (EIN: 276203765). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Filing History
IRS 990 filing history for Versability Resources Inc showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2011–2022), Versability Resources Inc's revenue has grown by 97.7%, moving from $328K to $649K. Total assets increased by 54.5% over the same period, from $119K to $184K. Total functional expenses rose by 106.8%, from $327K to $677K. In its most recent filing year (2022), Versability Resources Inc reported a deficit of $28K, with expenses exceeding revenue. The organization holds $327K in liabilities against $184K in assets (debt-to-asset ratio: 177.5%), resulting in net assets of $-143,004.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2022 | $649K | $677K | $184K | $327K | — | View 990 |
| 2021 | $712K | $726K | $228K | $343K | — | — |
| 2020 | $650K | $654K | $157K | $258K | — | — |
| 2019 | $652K | $662K | $158K | $255K | — | View 990 |
| 2018 | $645K | $667K | $174K | $261K | — | View 990 |
| 2017 | $602K | $611K | $200K | $264K | — | View 990 |
| 2016 | $677K | $692K | $219K | $275K | — | View 990 |
| 2015 | $613K | $626K | $152K | $194K | — | View 990 |
| 2014 | $533K | $549K | $134K | $163K | — | View 990 |
| 2013 | $676K | $686K | $171K | $184K | — | View 990 |
| 2012 | $978K | $981K | $148K | $151K | — | View 990 |
| 2011 | $328K | $327K | $119K | $89K | — | View 990 |
Year-by-Year Financial Summary
- 2022: Revenue of $649K, expenses of $677K, and assets of $184K (revenue -8.9% year-over-year).
- 2021: Revenue of $712K, expenses of $726K, and assets of $228K (revenue +9.6% year-over-year).
- 2020: Revenue of $650K, expenses of $654K, and assets of $157K (revenue -0.4% year-over-year).
- 2019: Revenue of $652K, expenses of $662K, and assets of $158K (revenue +1.0% year-over-year).
- 2018: Revenue of $645K, expenses of $667K, and assets of $174K (revenue +7.1% year-over-year).
- 2017: Revenue of $602K, expenses of $611K, and assets of $200K (revenue -11.0% year-over-year).
- 2016: Revenue of $677K, expenses of $692K, and assets of $219K (revenue +10.4% year-over-year).
- 2015: Revenue of $613K, expenses of $626K, and assets of $152K (revenue +15.1% year-over-year).
- 2014: Revenue of $533K, expenses of $549K, and assets of $134K (revenue -21.2% year-over-year).
- 2013: Revenue of $676K, expenses of $686K, and assets of $171K (revenue -30.9% year-over-year).
- 2012: Revenue of $978K, expenses of $981K, and assets of $148K (revenue +198.1% year-over-year).
- 2011: Revenue of $328K, expenses of $327K, and assets of $119K.
Data Sources and Methodology
This transparency report for Versability Resources 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.