Vessel Works
EIN: 824647823 · Lyons, CO · NTEE: E31
Is Vessel Works Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Vessel Works
Vessel Works (EIN: 824647823) is a nonprofit organization based in Lyons, CO, classified under NTEE code E31. The organization reported total revenue of $164K and total assets of $58K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Vessel Works's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Vessel Works is a small nonprofit that has been operating for 7 years, with 2 years of IRS 990 filings on record (2022–2023). Revenue has grown at a compound annual rate of -64.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $390K |
| Total Expenses | $721K |
| Surplus / Deficit | $-330,584 |
| Total Assets | $625K |
| Total Liabilities | $13K |
| Net Assets | $612K |
| Operating Margin | -84.7% |
| Debt-to-Asset Ratio | 2.1% |
| Months of Reserves | 10.4 months |
Financial Health Grade: B
In 2023, Vessel Works reported a deficit of $331K with expenses exceeding revenue, holds 10.4 months of operating reserves (strong position), has a debt-to-asset ratio of 2.1% (very low leverage).
Financial Trends
Over 2 years of filings (2022–2023), Vessel Works's revenue has declined at a compound annual growth rate (CAGR) of -64.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -64.4% | +355.0% | -34.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2019 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Vessel Works 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 Vessel Works 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 (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $331K, with expenses exceeding revenue.
- Debt-to-asset ratio: 2.1%.
Frequently Asked Questions about Vessel Works
Is Vessel Works a legitimate charity?
Based on AI analysis of IRS 990 filings, Vessel Works (EIN: 824647823) insufficient data. 0 red flags identified, 0 strengths noted.
How does Vessel Works spend its money?
Detailed spending breakdown data is not yet available for Vessel Works. Check back for updated IRS 990 analysis.
Are donations to Vessel Works tax-deductible?
Vessel Works is registered as a tax-exempt nonprofit (EIN: 824647823). 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 Vessel Works showing financial trends over 2 years of public records:
Over 2 years of IRS 990 filings (2022–2023), Vessel Works's revenue has declined by 64.4%, moving from $1.1M to $390K. Total assets decreased by 34% over the same period, from $946K to $625K. Total functional expenses rose by 355%, from $158K to $721K. In its most recent filing year (2023), Vessel Works reported a deficit of $331K, with expenses exceeding revenue. The organization holds $13K in liabilities against $625K in assets (debt-to-asset ratio: 2.1%), resulting in net assets of $612K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $390K | $721K | $625K | $13K | — | — |
| 2022 | $1.1M | $158K | $946K | $4K | — | View 990 |
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Vessel Works:
Data Sources and Methodology
This transparency report for Vessel Works 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.