Is Edwin L And Elizabeth L Skeltonfoundation Legit?

The Edwin L And Elizabeth L Skeltonfoundation appears to be a private foundation, as indicated by its consistent asset growth and minimal liabilities, typically distributing grants rather than operating programs directly. Its financial health is stable, with assets consistently growing over the past decade, reaching $1,348,825 in 2023. Revenue and expenses fluctuate, which is common for foundations relying on investment income and making periodic grant distributions. For instance, in 2023, it reported $57,630 in revenue against $44,670 in expenses, indicating a surplus for the year. The foundation maintains extremely low liabilities, consistently reported as $1, which is a strong indicator of financial stability and responsible management. Spending efficiency is difficult to fully assess without a detailed breakdown of expenses beyond total expenses. However, the absence of officer compensation suggests that administrative costs related to salaries are minimal or non-existent, which is a positive sign for efficiency. The foundation's primary function would be grant-making, and the efficiency would then depend on the impact of those grants. Given its NTEE code T22 (Private Grantmaking Foundations), its 'program spending' would largely be its grants. Transparency is generally good, as evidenced by its consistent IRS 990 filings over a decade. The filings show clear financial figures for revenue, expenses, assets, and liabilities. The consistent reporting of zero officer compensation also contributes to transparency by clearly indicating how leadership is compensated (or not). However, without access to the full 990 forms, specific details on grant recipients and administrative overhead beyond officer compensation remain unknown, which would further enhance a complete transparency assessment.