Is Lucian A & Jerri Jeter Harvey Foundation Legit?

The Lucian A & Jerri Jeter Harvey Foundation appears to be a small private foundation, as indicated by its NTEE code T22 (Private Grantmaking Foundations) and consistently low revenue figures, particularly in recent years. The organization's financial health shows a concerning trend of declining assets and minimal revenue. For example, in 2023, revenue was only $10 while expenses were $15,005, leading to a significant draw down on assets, which decreased from $115,585 in 2022 to $100,590 in 2023. This pattern of expenses far exceeding revenue has been consistent for several years, suggesting the foundation is liquidating its assets rather than operating on new contributions. Spending efficiency is difficult to assess without a detailed breakdown of expenses beyond the summary data provided. However, given the minimal revenue and the consistent expenses, a significant portion of its spending is likely administrative overhead associated with maintaining the foundation and its grantmaking activities, even if the actual grants are small. The foundation reports 0% officer compensation, which is a positive sign for minimizing administrative costs related to executive pay. Transparency appears adequate based on the availability of 10 years of IRS 990 filings. However, the financial data itself raises questions about the long-term viability and purpose of a foundation with such low revenue and consistently high expenses relative to that revenue. The consistent liabilities of $1 across all filings are unusual and may warrant further investigation into their accounting practices.