Sparrows Nest INC EIN 56-2274692 Form 990 (PDF) Claim this org

Sparrows Nest INC

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Sparrows Nest INC is a youth development nonprofit based in Greensboro, NC, formed in 2004. For fiscal year 2025 it reported $95K in revenue, $88K in expenses, and $188K in net assets.Pt I

Founded
2004
Type
Public charity (501(c)(3)) · Youth Development
Location
Greensboro, NC
Website
blacksuit.org
Filings
6 on file (2020–2025)
Revenue
$95KFY2025
Expenses
$88K
Net assets
$188K
People
6
Filings
6
Updates
0
More identity details & actions ⌄
EIN  56-2274692 Public charity (501(c)(3)) Greensboro, NC Founded 2004
Form 990 (PDF)
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Size
<$100K
What they do
a youth development nonprofit
Leadership
Mike Matzinger · Chairman
Money in and out
$95K revenue, $88K expenses
Bottom line
100% program efficiency
Where the money goes · FY2025
Total revenue
$95K
Pt VIII · Ln 12
Total expenses
$88K
Pt IX · Ln 25
Net assets
$188K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $6K
Where spending went · Part IX cols B–D
Program services $1.00
Program efficiency
100%
of spending reaches programs
Operating runway
25.5mo
months of highly liquid reserves at operating expense rate▼ -24% vs prior filing year
Surplus margin
+7%
revenue over expenses, this year▼ -86% vs prior filing year

Summary of the Filing

Part I · fiscal year 2025 · Form 990
Revenue
$95K
FY2025▼ -24%
Total revenue
$95K
Pt VIII · Ln 12
Total expenses
$88K
Pt IX · Ln 25
Net assets
$188K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$6K
Total assetsPt X · Ln 16$188K
Program-expense ratioPt IX · col B100%
Voting members of governing bodyPt I · Ln 35
Independent voting membersPt I · Ln 45

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CSparrows Nest INC
EINHdr · item D56-2274692
Principal addressHdr · item CGreensboro, NC
WebsiteHdr · item Jblacksuit.org
Year of formationHdr · item L2004
State of legal domicileHdr · item MNC
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFYouth Development (O23)
Ruling yearIRS BMFMar 2004

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a5
Independent voting membersPt VI · Ln 1b5
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Vice Chairman
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
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Mission & Programs · Part III

Where the work happens

3 program services account for $56K of program spending, described in the organization's own filed words · FY2025.
01

The Black Suit Initiative's Entrepreneurship Program equips middle and high school young men with hands-on business experience through product development, branding, marketing, budgeting, and teamwork.

$44Kprogram expense
02

Suit purchases(uniforms)-Students completing the first year of the program receive a full black suit. We also replace and alter the suits of current members until they graduate. All members earned an average of 90 Service Learning hours within the school year.

$11Kprogram expense
03

With a partnership developed with Apple, students were provided with opportunities to engage in technology based workshops on a monthly basis. Fifty-five young men received these services

$901program expense

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Statement of Revenue

Part VIII
Contributions & grants100%$95K
Total revenueLn 12$95K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $1.00
Program services100%$88K
Total functional expensesLn 25$88K

Balance Sheet

Part X · end of year
CashLn 1$188K
Total assetsLn 16$188K
Total liabilitiesLn 26$0
Total net assetsLn 32$188K
Months of cash on handcomputed25.5

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $188K · Operating expenses/yr $88K
25.5 months
Where the money goes
Program services
Program services $88K · Total expenses $88K
100%
Management & General
Management & general $0 · Total expenses $88K
0%
Fundraising
Fundraising $0 · Total expenses $88K
0%
Cost to raise $1
Fundraising expense $0 · Solicited contributions $95K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $95K · Total revenue $95K
100%
Government reliance
Government grants $0 · Total revenue $95K
0%
Earned-income share
Program service revenue $0 · Total revenue $95K
0%
Investment reliance
Investment income $0 · Total revenue $95K
0%
Program self-sufficiency
Program service revenue $0 · Total expenses $88K
0%
Growth & trend
Revenue growth (YoY)
This year $95K · Prior year $125K
-24%
Revenue CAGR
FY2020 $81K · FY2025 $95K
+3%
Net-asset trend (YoY)
End of year $188K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $95K · Expenses $88K
+7%
Liabilities-to-Assets
Total liabilities — · Total assets $188K
Net-asset ratio
Net assets $188K · Total assets $188K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $188K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Mike Matzinger · Reported title Chairman · Highest reported compensation $0 · Total expenses $88K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $25K · Total expenses $88K
28%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 100%
Revenue growth -24%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2022
Total grants receivedfrom 2 funders$17K

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$95K revenue · viewing · ⤓ 990 PDF
FY2024$125K revenue · ⤓ 990 PDF
FY2023$181K revenue · ⤓ 990 PDF
FY2022$182K revenue · ⤓ 990 PDF
FY2021$107K revenue · ⤓ 990 PDF
FY2020$81K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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