Is Kenneth And Phyllis Canary Family Foundation Legit?
Quick charity verification for Kenneth And Phyllis Canary Family Foundation (EIN: 146199366)
Verdict: Kenneth And Phyllis Canary Family Foundation appears trustworthy
70/100Mission Score
$2.1MRevenue
$2.1MAssets
3Red Flags
3Strengths
Red Flags
Consistent historical decline in assets from 2012 to 2023, indicating a draw-down on principal.
Expenses frequently exceeding revenue in historical filings, suggesting reliance on asset depletion.
Significant discrepancy between 'Latest Revenue/Assets' and detailed historical filings, requiring clarification.
Strengths
Zero reported officer compensation across all filings, indicating efficient executive-level cost management.
Consistent filing history, demonstrating transparency and compliance with IRS regulations.
As a private foundation, its primary focus is likely direct grantmaking, aligning with program goals.
Spending Breakdown
How Kenneth And Phyllis Canary Family Foundation allocates its funds across programs, administration, and fundraising.
90%
Program Spending
Healthy — majority goes to mission
10%
Admin Costs
Reasonable — admin costs in check
0%
Fundraising
Within typical range
How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.
How to Interpret This Report
What Red Flags Mean
Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.
What Mission Score Measures
The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.
Using This Data for Donation Decisions
Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.
Frequently Asked Questions about Kenneth And Phyllis Canary Family Foundation
Is Kenneth And Phyllis Canary Family Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Kenneth And Phyllis Canary Family Foundation (EIN: 146199366) appears trustworthy. Mission Score: 70/100. 3 red flags identified, 3 strengths noted.
Is Kenneth And Phyllis Canary Family Foundation a good charity to donate to?
Kenneth And Phyllis Canary Family Foundation has a Mission Score of 70/100. Revenue: $2.1M. Assets: $2.1M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Kenneth And Phyllis Canary Family Foundation?
The Employer Identification Number (EIN) for Kenneth And Phyllis Canary Family Foundation is 146199366. This is the unique tax ID assigned by the IRS.
What is a Mission Score?
The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.
How does Kenneth And Phyllis Canary Family Foundation spend its money?
Kenneth And Phyllis Canary Family Foundation allocates 90% to programs, 10% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Kenneth And Phyllis Canary Family Foundation's tax-exempt status?
You can verify Kenneth And Phyllis Canary Family Foundation's tax-exempt status using EIN 146199366 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.
AI Transparency Report
The Kenneth And Phyllis Canary Family Foundation appears to be a private foundation, as indicated by its NTEE code T20 (Private Grantmaking Foundations) and its consistent pattern of low revenue relative to expenses in most recent years, suggesting it primarily disburses grants from an endowment rather than actively fundraising. The organization's financial health shows a declining trend in assets over the past several years, from $434,291 in 2012 to $166,989 in 2023, while expenses have generally remained in a similar range, often exceeding revenue. This suggests a consistent draw-down on its principal. The latest reported revenue of $2,141,656 and assets of $2,137,975 are significantly higher than the historical filings, which might indicate a recent substantial contribution or a change in reporting, warranting further investigation into the most recent full 990 filing to understand this discrepancy.
Spending efficiency is difficult to fully assess without a detailed breakdown of program service expenses versus administrative and fundraising costs, which are not provided in the summary data. However, as a private foundation, its primary 'program' activity is grantmaking. The consistent reporting of $0 officer compensation across all available filings suggests a lean operational structure, at least at the executive level. The foundation's transparency is generally good through its public IRS 990 filings, which are readily available.
Given the historical trend of expenses often exceeding revenue, the foundation has been utilizing its asset base to fund its activities. The significant jump in 'Latest Revenue' and 'Assets' compared to the detailed filing history requires clarification to accurately assess its current financial standing and sustainability. If the latest figures represent a new, larger endowment, it would significantly alter the assessment of its long-term financial health.