5 K Foundation
5 K Foundation's assets have dwindled to $1 with minimal revenue and ongoing expenses.
EIN: 204191224 · Clearfield, IA · NTEE: T20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $4 |
| Total Expenses | $2K |
| Net Assets | $0 |
| Transparency Score | 5/100 |
Is 5 K Foundation Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About 5 K Foundation
5 K Foundation (EIN: 204191224) is a nonprofit organization based in Clearfield, IA, classified under NTEE code T20. The organization reported total revenue of $4 and total assets of $1 according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of 5 K Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
5 K Foundation is a micro nonprofit that has been operating for 18 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -38.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $4 |
| Total Expenses | $2K |
| Surplus / Deficit | $-1,867 |
| Total Assets | $1 |
| Total Liabilities | $1 |
| Net Assets | $0 |
| Operating Margin | -46675.0% |
| Debt-to-Asset Ratio | 100.0% |
| Months of Reserves | 0.0 months |
Financial Health Grade: D
In 2023, 5 K Foundation reported a deficit of $2K with expenses exceeding revenue, holds 0.0 months of operating reserves (limited), has a debt-to-asset ratio of 100.0% (high leverage).
Financial Trends
Over 10 years of filings (2011–2023), 5 K Foundation's revenue has declined at a compound annual growth rate (CAGR) of -38.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +33.3% | +1236.4% | -99.9% |
| 2022 | -99.6% | -83.8% | -6.8% |
| 2021 | +72400.0% | -5.5% | -6.5% |
| 2020 | -88.9% | -58.0% | -29.9% |
| 2019 | -99.7% | -89.8% | -99.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2008 |
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 5 K Foundation with a Mission Score of 5 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 100%
- programs: 0%
- fundraising: 0%
According to IRS 990 filings, 5 K Foundation allocates its expenses as follows: admin: 100%, programs: 0%, fundraising: 0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $2K, with expenses exceeding revenue.
- Debt-to-asset ratio: 100.0%.
Executive Compensation Analysis
Officer compensation has consistently been reported as 0% across all available filings, indicating no salaries or benefits paid to executives, which is unusual for an active organization but consistent with its current minimal financial activity.
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 5 K Foundation's IRS 990 filings:
- Dramatic decline in assets from $344,669 in 2014 to $1 in 2023.
- Revenue has consistently been in the single digits since 2019, indicating a lack of financial support.
- Expenses significantly exceed revenue in recent years (e.g., $1,871 expenses vs. $4 revenue in 2023), suggesting unsustainable operations.
- Minimal financial activity raises questions about the organization's ability to fulfill its mission.
Strengths
The following positive indicators were identified for 5 K Foundation:
- Consistent reporting of 0% officer compensation throughout its history.
Frequently Asked Questions about 5 K Foundation
Is 5 K Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, 5 K Foundation (EIN: 204191224) significant concerns. Mission Score: 5/100. 4 red flags identified, 1 strength noted.
How does 5 K Foundation spend its money?
Detailed spending breakdown data is not yet available for 5 K Foundation. Check back for updated IRS 990 analysis.
Are donations to 5 K Foundation tax-deductible?
5 K Foundation is registered as a tax-exempt nonprofit (EIN: 204191224). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does 5 K Foundation compare to similar nonprofits?
With a transparency score of 5/100 (Very Poor), 5 K Foundation is below average for NTEE category T20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is 5 K Foundation located?
5 K Foundation is headquartered in Clearfield, Iowa and files with the IRS under EIN 204191224. It is classified under NTEE code T20.
How many years of IRS 990 filings does 5 K Foundation have?
5 K Foundation has 10 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 $4 in total revenue.
What is the current operational status of the 5 K Foundation given its $1 in assets and $4 in revenue?
The organization appears to be largely inactive or in the process of winding down, as its financial resources are virtually nonexistent.
How are the reported expenses of $1,871 in 2023 being covered with only $4 in revenue?
The data suggests that expenses are significantly exceeding revenue, likely drawing from any remaining, albeit minimal, reserves or through unreported external support, though the asset value of $1 makes this difficult to reconcile.
What caused the dramatic decline in revenue and assets from 2014 to 2023?
The filings do not provide specific reasons for the decline, but the trend shows a consistent and sharp decrease in financial activity and holdings over this period.
Filing History
IRS 990 filing history for 5 K Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), 5 K Foundation's revenue has declined by 99.7%, moving from $1K to $4. Total assets decreased by 100% over the same period, from $202K to $1. Total functional expenses fell by 82.2%, from $10K to $2K. In its most recent filing year (2023), 5 K Foundation reported a deficit of $2K, with expenses exceeding revenue. The organization holds $1 in liabilities against $1 in assets (debt-to-asset ratio: 100.0%), resulting in net assets of $0.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $4 | $2K | $1 | $1 | — | — |
| 2022 | $3 | $140 | $2K | $1 | — | — |
| 2021 | $725 | $865 | $2K | $1 | — | — |
| 2020 | $1 | $915 | $2K | $1 | — | — |
| 2019 | $9 | $2K | $3K | $1 | — | View 990 |
| 2015 | $4K | $21K | $327K | $0 | — | View 990 |
| 2014 | $186K | $18K | $345K | $0 | — | View 990 |
| 2013 | $-6,784 | $9K | $176K | $0 | — | View 990 |
| 2012 | $1K | $10K | $192K | $0 | — | View 990 |
| 2011 | $1K | $10K | $202K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $4, expenses of $2K, and assets of $1 (revenue +33.3% year-over-year).
- 2022: Revenue of $3, expenses of $140, and assets of $2K (revenue -99.6% year-over-year).
- 2021: Revenue of $725, expenses of $865, and assets of $2K (revenue +72400.0% year-over-year).
- 2020: Revenue of $1, expenses of $915, and assets of $2K (revenue -88.9% year-over-year).
- 2019: Revenue of $9, expenses of $2K, and assets of $3K (revenue -99.7% year-over-year).
- 2015: Revenue of $4K, expenses of $21K, and assets of $327K (revenue -98.1% year-over-year).
- 2014: Revenue of $186K, expenses of $18K, and assets of $345K.
- 2013: Revenue of $-6,784, expenses of $9K, and assets of $176K (revenue -697.7% year-over-year).
- 2012: Revenue of $1K, expenses of $10K, and assets of $192K (revenue -19.2% year-over-year).
- 2011: Revenue of $1K, expenses of $10K, and assets of $202K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for 5 K Foundation:
Data Sources and Methodology
This transparency report for 5 K Foundation 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.