Is Bill And Carol Latimer Charitable Foundation Legit?

The Bill And Carol Latimer Charitable Foundation demonstrates strong financial health, with its assets growing significantly from $124.5 million in 2011 to $161 million in 2023, and reaching $177.7 million most recently. The organization consistently reports minimal liabilities, often just $1, indicating a very stable financial position. Revenue has fluctuated but shows a strong upward trend in recent years, with $28.5 million in 2023 and $29.9 million in 2022, far exceeding expenses in those periods. This suggests a robust capacity for grantmaking and program support. The foundation's spending efficiency appears high, as indicated by the substantial difference between revenue and expenses in recent years. For example, in 2023, expenses were $8.6 million against $28.5 million in revenue, suggesting a significant portion of funds are retained or directly allocated to program services. The absence of reported officer compensation across all available filings is a notable indicator of efficiency and potentially low administrative overhead, as it implies that leadership may be unpaid or compensated through other means not captured as officer compensation, or that the foundation operates with a volunteer board. Transparency is generally good, with a consistent filing history of 10 IRS 990 forms. The detailed financial data provided in these filings allows for a clear understanding of the foundation's revenue, expenses, and asset growth. The lack of officer compensation also contributes to a perception of transparency regarding how funds are utilized, as a major potential area of concern for nonprofits is often executive pay. Overall, the foundation appears to be well-managed and financially sound, with a clear focus on its charitable mission.