Walls Of Faith Inc

Walls Of Faith Inc faces persistent operating deficits and growing liabilities, with assets significantly lower than debt.

EIN: 204364361 · Greenwood, IN · NTEE: X21 · Updated: 2026-03-28

$45KRevenue

$17KAssets

40/100Mission Score (Fair)

X21

About Walls Of Faith Inc

Walls Of Faith Inc (EIN: 204364361) is a nonprofit organization based in Greenwood, IN, classified under NTEE code X21. The organization reported total revenue of $45K and total assets of $17K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Walls Of Faith Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Walls Of Faith Inc, operating in Greenwood, IN, exhibits a concerning financial trend with consistent operating deficits over the past several years. In 2023, the organization reported revenues of $68,053 against expenses of $70,884, continuing a pattern seen in 2022 ($37,551 revenue vs. $52,410 expenses) and 2021 ($27,294 revenue vs. $37,921 expenses). This indicates that the organization is regularly spending more than it brings in, which is unsustainable in the long term. 

Furthermore, the organization's liabilities have grown significantly, reaching $147,587 in 2023, far exceeding its assets of $24,178. This high debt-to-asset ratio suggests potential financial instability. While the organization reports 0% officer compensation, which is a positive for donor confidence regarding executive pay, the overall financial health is weak due to persistent deficits and a growing debt burden. The NTEE code X21 (Religious Activities) suggests a focus on religious programs, but without a detailed functional expense breakdown, it's difficult to assess spending efficiency beyond the overall deficit.

Transparency regarding specific program spending versus administrative or fundraising costs is limited as detailed functional expense data is not provided in the summary. The consistent negative net income and increasing liabilities are significant concerns for financial health and long-term viability. Donors would benefit from more detailed financial reporting to understand how funds are being allocated and how the organization plans to address its accumulating debt.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Walls Of Faith Inc with a Mission Score of 40 out of 100 (Fair). 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: 75%
fundraising: 10%

According to IRS 990 filings, Walls Of Faith Inc allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

Executive compensation is reported as 0% across all available filings, indicating that no officers are receiving salaries from the organization, which is a positive for minimizing overhead in this small organization.

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 Walls Of Faith Inc's IRS 990 filings:

Persistent operating deficits (expenses consistently exceed revenue)
Rapidly increasing liabilities, reaching $147,587 in 2023
Assets ($24,178 in 2023) are significantly lower than liabilities, indicating insolvency
Negative net income in most recent years, suggesting unsustainable financial practices

Strengths

The following positive indicators were identified for Walls Of Faith Inc:

0% officer compensation reported, indicating no executive salaries
Consistent filing of IRS 990 forms, demonstrating a commitment to transparency in reporting

Frequently Asked Questions about Walls Of Faith Inc

Is Walls Of Faith Inc financially stable?

No, Walls Of Faith Inc does not appear financially stable. It has consistently reported operating deficits, with expenses exceeding revenue in most recent years (e.g., $70,884 expenses vs. $68,053 revenue in 2023). Additionally, its liabilities have grown substantially to $147,587 in 2023, far surpassing its assets of $24,178, indicating a high level of debt.

What is the trend in Walls Of Faith Inc's revenue and expenses?

While revenue has fluctuated, it has generally been insufficient to cover expenses. For example, in 2023, revenue was $68,053 and expenses were $70,884. This trend of expenses exceeding revenue has been consistent in recent years, leading to negative net income.

How has the organization's debt changed over time?

The organization's liabilities have increased significantly over time, from $22,609 in 2011 to $147,587 in 2023. This substantial growth in debt is a major financial concern.

Does Walls Of Faith Inc pay its officers?

Based on the provided data, Walls Of Faith Inc reports 0% officer compensation for all available filing periods, indicating that no officers are compensated through salaries.

What is the organization's asset-to-liability ratio?

In 2023, Walls Of Faith Inc had assets of $24,178 and liabilities of $147,587, resulting in a very low asset-to-liability ratio of approximately 0.16. This indicates that the organization's assets are far from sufficient to cover its debts.

Filing History

IRS 990 filing history for Walls Of Faith Inc showing financial trends over 10 years of public records:

Over 10 years of IRS 990 filings (2011–2023), Walls Of Faith Inc's revenue has grown by 34.2%, moving from $51K to $68K. Total assets increased by 56.3% over the same period, from $15K to $24K. Total functional expenses rose by 81.6%, from $39K to $71K. In its most recent filing year (2023), Walls Of Faith Inc reported a deficit of $3K, with expenses exceeding revenue. The organization holds $148K in liabilities against $24K in assets (debt-to-asset ratio: 610.4%), resulting in net assets of $-123,409.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$68K	$71K	$24K	$148K	—	—
2022	$38K	$52K	$15K	$136K	—	View 990
2021	$27K	$38K	$14K	$120K	—	—
2020	$27K	$41K	$10K	$105K	—	—
2019	$37K	$44K	$8K	$89K	—	—
2015	$36K	$22K	$24K	$39K	—	View 990
2014	$25K	$38K	$4K	$33K	—	View 990
2013	$54K	$67K	$257	$16K	—	View 990
2012	$53K	$47K	$12K	$14K	—	View 990
2011	$51K	$39K	$15K	$23K	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $68K, expenses of $71K, and assets of $24K (revenue +81.2% year-over-year).
2022: Revenue of $38K, expenses of $52K, and assets of $15K (revenue +37.6% year-over-year).
2021: Revenue of $27K, expenses of $38K, and assets of $14K (revenue +0.6% year-over-year).
2020: Revenue of $27K, expenses of $41K, and assets of $10K (revenue -27.5% year-over-year).
2019: Revenue of $37K, expenses of $44K, and assets of $8K (revenue +4.3% year-over-year).
2015: Revenue of $36K, expenses of $22K, and assets of $24K (revenue +42.2% year-over-year).
2014: Revenue of $25K, expenses of $38K, and assets of $4K (revenue -52.9% year-over-year).
2013: Revenue of $54K, expenses of $67K, and assets of $257 (revenue +1.9% year-over-year).
2012: Revenue of $53K, expenses of $47K, and assets of $12K (revenue +3.5% year-over-year).
2011: Revenue of $51K, expenses of $39K, and assets of $15K.

Data Sources and Methodology

This transparency report for Walls Of Faith 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.