24 Foundation Inc
24 Foundation Inc shows consistent revenue and asset growth with no reported officer compensation.
EIN: 203768277 · Charlotte, NC · NTEE: G12 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.5M |
| Total Expenses | $1.3M |
| Program Spending | 80% |
| Net Assets | $771K |
| Transparency Score | 85/100 |
Is 24 Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
24 Foundation Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About 24 Foundation Inc
24 Foundation Inc (EIN: 203768277) is a nonprofit organization based in Charlotte, NC, classified under NTEE code G12. The organization reported total revenue of $2.5M and total assets of $1.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of 24 Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
24 Foundation Inc is a mid-size nonprofit that has been operating for 20 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -1.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.8M |
| Total Expenses | $1.3M |
| Surplus / Deficit | +$519K |
| Total Assets | $1.2M |
| Total Liabilities | $431K |
| Net Assets | $771K |
| Operating Margin | 28.9% |
| Debt-to-Asset Ratio | 35.9% |
| Months of Reserves | 11.3 months |
Financial Health Grade: A
In 2023, 24 Foundation Inc reported a surplus of $519K with revenue exceeding expenses, holds 11.3 months of operating reserves (strong position), has a debt-to-asset ratio of 35.9% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), 24 Foundation Inc's revenue has declined at a compound annual growth rate (CAGR) of -1.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +24.6% | +13.1% | +15.8% |
| 2022 | +6.0% | +14.6% | -4.1% |
| 2021 | -11.6% | -63.4% | -0.5% |
| 2020 | -12.8% | +60.4% | +35.4% |
| 2019 | -21.7% | -9.6% | -25.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2006 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates 24 Foundation Inc with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, 24 Foundation Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $519K, with revenue exceeding expenses.
- Debt-to-asset ratio: 35.9%.
Executive Compensation Analysis
The organization reports 0% officer compensation across all provided filing periods, indicating that executive leadership is either unpaid or compensated through other means not classified as officer compensation, which is a strong positive for resource allocation.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of 24 Foundation Inc's IRS 990 filings:
- Past periods of significant deficit spending (e.g., 2020 expenses $2.7M vs. revenue $1.5M, 2014 expenses $3.3M vs. revenue $2.8M).
Strengths
The following positive indicators were identified for 24 Foundation Inc:
- Consistent revenue generation, with latest revenue at $1,798,504.
- Positive net assets and growth in assets from $803,693 in 2019 to $1,202,070 in 2023.
- No reported officer compensation across all filing periods, indicating efficient use of funds at the executive level.
- Recent trend of expenses being significantly lower than revenue (e.g., 2023 expenses $1.2M vs. revenue $1.7M).
- Strong filing history with 13 filings, demonstrating transparency and compliance.
Frequently Asked Questions about 24 Foundation Inc
Is 24 Foundation Inc a legitimate charity?
24 Foundation Inc (EIN: 203768277) is a registered tax-exempt nonprofit based in North Carolina. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $2.5M. 1 red flag identified. 5 strengths noted. Financial health grade: A.
How does 24 Foundation Inc spend its money?
24 Foundation Inc directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to 24 Foundation Inc tax-deductible?
24 Foundation Inc is registered as a tax-exempt nonprofit (EIN: 203768277). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of 24 Foundation Inc's spending goes to programs?
24 Foundation Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does 24 Foundation Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), 24 Foundation Inc is above average for NTEE category G12 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is 24 Foundation Inc located?
24 Foundation Inc is headquartered in Charlotte, North Carolina and files with the IRS under EIN 203768277. It is classified under NTEE code G12.
How many years of IRS 990 filings does 24 Foundation Inc have?
24 Foundation Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $2.5M in total revenue.
Is 24 Foundation Inc a good charity?
Based on the provided data, 24 Foundation Inc appears to be a good charity. It consistently generates revenue, has grown its assets, and reports no officer compensation, suggesting a strong commitment to its mission and efficient use of funds.
How has 24 Foundation Inc's financial health changed over time?
24 Foundation Inc's financial health has improved significantly. While there were periods of deficit spending (e.g., 2020 with $1.5M revenue vs. $2.7M expenses, and 2014 with $2.8M revenue vs. $3.3M expenses), recent years (2021-2023) show consistent surpluses, leading to increased assets and more stable financial footing.
What is the trend in 24 Foundation Inc's assets and liabilities?
Assets have shown a positive trend, increasing from $803,693 in 2019 to $1,202,070 in 2023. Liabilities have fluctuated but are generally manageable relative to assets, with a notable decrease from $1,524,323 in 2020 to $431,472 in 2023, indicating improved financial stability.
Filing History
IRS 990 filing history for 24 Foundation Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), 24 Foundation Inc's revenue has declined by 18.5%, moving from $2.2M to $1.8M. Total assets increased by 265.6% over the same period, from $329K to $1.2M. Total functional expenses fell by 38.7%, from $2.1M to $1.3M. In its most recent filing year (2023), 24 Foundation Inc reported a surplus of $519K, with revenue exceeding expenses. The organization holds $431K in liabilities against $1.2M in assets (debt-to-asset ratio: 35.9%), resulting in net assets of $771K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.8M | $1.3M | $1.2M | $431K | — | — |
| 2022 | $1.4M | $1.1M | $1.0M | $787K | — | View 990 |
| 2021 | $1.4M | $987K | $1.1M | $1.1M | — | View 990 |
| 2020 | $1.5M | $2.7M | $1.1M | $1.5M | — | — |
| 2019 | $1.8M | $1.7M | $804K | $81K | — | View 990 |
| 2018 | $2.3M | $1.9M | $1.1M | $437K | — | View 990 |
| 2017 | $2.4M | $1.7M | $1.0M | $772K | — | — |
| 2016 | $2.2M | $3.1M | $790K | $1.2M | — | View 990 |
| 2015 | $2.1M | $1.5M | $851K | $349K | — | View 990 |
| 2014 | $2.9M | $3.3M | $1.0M | $1.1M | — | View 990 |
| 2013 | $2.4M | $2.3M | $412K | $71K | — | View 990 |
| 2012 | $2.6M | $2.5M | $369K | $158K | — | View 990 |
| 2011 | $2.2M | $2.1M | $329K | $120K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.8M, expenses of $1.3M, and assets of $1.2M (revenue +24.6% year-over-year).
- 2022: Revenue of $1.4M, expenses of $1.1M, and assets of $1.0M (revenue +6.0% year-over-year).
- 2021: Revenue of $1.4M, expenses of $987K, and assets of $1.1M (revenue -11.6% year-over-year).
- 2020: Revenue of $1.5M, expenses of $2.7M, and assets of $1.1M (revenue -12.8% year-over-year).
- 2019: Revenue of $1.8M, expenses of $1.7M, and assets of $804K (revenue -21.7% year-over-year).
- 2018: Revenue of $2.3M, expenses of $1.9M, and assets of $1.1M (revenue -6.5% year-over-year).
- 2017: Revenue of $2.4M, expenses of $1.7M, and assets of $1.0M (revenue +11.7% year-over-year).
- 2016: Revenue of $2.2M, expenses of $3.1M, and assets of $790K (revenue +2.7% year-over-year).
- 2015: Revenue of $2.1M, expenses of $1.5M, and assets of $851K (revenue -26.7% year-over-year).
- 2014: Revenue of $2.9M, expenses of $3.3M, and assets of $1.0M (revenue +18.4% year-over-year).
- 2013: Revenue of $2.4M, expenses of $2.3M, and assets of $412K (revenue -5.0% year-over-year).
- 2012: Revenue of $2.6M, expenses of $2.5M, and assets of $369K (revenue +15.6% year-over-year).
- 2011: Revenue of $2.2M, expenses of $2.1M, and assets of $329K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for 24 Foundation Inc:
Data Sources and Methodology
This transparency report for 24 Foundation Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.