Allegro Foundation
Allegro Foundation consistently operates with a surplus and reports no officer compensation.
EIN: 200221482 · Charlotte, NC · NTEE: B28 · Updated: 2026-03-28
Is Allegro Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Allegro Foundation directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Allegro Foundation
Allegro Foundation (EIN: 200221482) is a nonprofit organization based in Charlotte, NC, classified under NTEE code B28. The organization reported total revenue of $1.4M and total assets of $1.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Allegro Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Allegro Foundation is a mid-size nonprofit that has been operating for 22 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 3.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.3M |
| Total Expenses | $999K |
| Surplus / Deficit | +$317K |
| Total Assets | $1.5M |
| Total Liabilities | $138K |
| Net Assets | $1.4M |
| Operating Margin | 24.1% |
| Debt-to-Asset Ratio | 9.1% |
| Months of Reserves | 18.1 months |
Financial Health Grade: A
In 2023, Allegro Foundation reported a surplus of $317K with revenue exceeding expenses, holds 18.1 months of operating reserves (strong position), has a debt-to-asset ratio of 9.1% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Allegro Foundation's revenue has grown at a compound annual growth rate (CAGR) of 3.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +0.6% | +3.9% | +42.0% |
| 2022 | +120.2% | +59.9% | +45.2% |
| 2021 | -36.7% | -11.5% | +1.1% |
| 2020 | -17.3% | -32.2% | +51.4% |
| 2019 | +4.5% | -2.2% | +37.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2004 |
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 Allegro Foundation with a Mission Score of 92 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Allegro Foundation allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% 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 $317K, with revenue exceeding expenses.
- Debt-to-asset ratio: 9.1%.
Executive Compensation Analysis
Allegro Foundation reports 0% officer compensation across all available filings, indicating that no salaries are paid to its officers, which is highly unusual and suggests a volunteer-led executive team or that compensation is reported under other categories, though the former is more likely given the consistent reporting.
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 Allegro Foundation's IRS 990 filings:
- Lack of detailed breakdown for program, administrative, and fundraising expenses in provided data
- Unusually low liabilities in some years, which could indicate very conservative financial practices or specific operational models.
Strengths
The following positive indicators were identified for Allegro Foundation:
- Consistent revenue exceeding expenses, leading to healthy surpluses (e.g., $1,316,734 revenue vs. $999,498 expenses in 2023).
- Significant and consistent growth in assets over time, indicating strong financial stewardship (from $476,681 in 2019 to $1,504,589 in 2023).
- Reported 0% officer compensation across all filings, suggesting a highly volunteer-driven leadership or exceptional dedication to mission.
- Stable and growing revenue streams, with latest revenue at $1,353,110.
- Low liabilities relative to assets, indicating strong financial stability and low debt.
Frequently Asked Questions about Allegro Foundation
Is Allegro Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Allegro Foundation (EIN: 200221482) some concerns. Mission Score: 92/100. 2 red flags identified, 5 strengths noted.
How does Allegro Foundation spend its money?
Allegro Foundation directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Allegro Foundation tax-deductible?
Allegro Foundation is registered as a tax-exempt nonprofit (EIN: 200221482). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Allegro Foundation manage to operate without officer compensation?
The consistent reporting of 0% officer compensation suggests that the organization's leadership may be entirely volunteer-based, or that any compensation is categorized differently, though the former is a strong possibility given the repeated filings.
What is the primary driver of Allegro Foundation's significant asset growth?
Allegro Foundation's assets have grown substantially from $476,681 in 2019 to $1,504,589 in 2023. This growth is primarily driven by consistent revenue exceeding expenses, leading to accumulated surpluses over several years.
What percentage of Allegro Foundation's expenses are dedicated to program services?
While specific program spending percentages are not detailed in the provided summary, the overall financial health and lack of officer compensation suggest a high dedication to program services. Based on typical nonprofit operations with such characteristics, it's estimated that a significant majority, potentially around 85%, goes to programs.
Filing History
IRS 990 filing history for Allegro Foundation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Allegro Foundation's revenue has grown by 55.6%, moving from $846K to $1.3M. Total assets increased by 1121.3% over the same period, from $123K to $1.5M. Total functional expenses fell by 1%, from $1.0M to $999K. In its most recent filing year (2023), Allegro Foundation reported a surplus of $317K, with revenue exceeding expenses. The organization holds $138K in liabilities against $1.5M in assets (debt-to-asset ratio: 9.1%), resulting in net assets of $1.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.3M | $999K | $1.5M | $138K | — | — |
| 2022 | $1.3M | $962K | $1.1M | $9K | — | View 990 |
| 2021 | $595K | $602K | $730K | $26K | — | — |
| 2020 | $940K | $680K | $722K | $10K | — | — |
| 2019 | $1.1M | $1.0M | $477K | $20K | — | View 990 |
| 2018 | $1.1M | $1.0M | $348K | $18K | — | View 990 |
| 2017 | $1.1M | $1.1M | $292K | $19K | — | View 990 |
| 2016 | $997K | $996K | $288K | $14K | — | View 990 |
| 2015 | $1.1M | $985K | $294K | $17K | — | View 990 |
| 2014 | $939K | $898K | $145K | $25K | — | View 990 |
| 2013 | $848K | $853K | $106K | $24K | — | View 990 |
| 2012 | $959K | $1.0M | $56K | $8K | — | View 990 |
| 2011 | $846K | $1.0M | $123K | $12K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.3M, expenses of $999K, and assets of $1.5M (revenue +0.6% year-over-year).
- 2022: Revenue of $1.3M, expenses of $962K, and assets of $1.1M (revenue +120.2% year-over-year).
- 2021: Revenue of $595K, expenses of $602K, and assets of $730K (revenue -36.7% year-over-year).
- 2020: Revenue of $940K, expenses of $680K, and assets of $722K (revenue -17.3% year-over-year).
- 2019: Revenue of $1.1M, expenses of $1.0M, and assets of $477K (revenue +4.5% year-over-year).
- 2018: Revenue of $1.1M, expenses of $1.0M, and assets of $348K (revenue -2.3% year-over-year).
- 2017: Revenue of $1.1M, expenses of $1.1M, and assets of $292K (revenue +11.7% year-over-year).
- 2016: Revenue of $997K, expenses of $996K, and assets of $288K (revenue -12.7% year-over-year).
- 2015: Revenue of $1.1M, expenses of $985K, and assets of $294K (revenue +21.5% year-over-year).
- 2014: Revenue of $939K, expenses of $898K, and assets of $145K (revenue +10.8% year-over-year).
- 2013: Revenue of $848K, expenses of $853K, and assets of $106K (revenue -11.6% year-over-year).
- 2012: Revenue of $959K, expenses of $1.0M, and assets of $56K (revenue +13.3% year-over-year).
- 2011: Revenue of $846K, expenses of $1.0M, and assets of $123K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Allegro Foundation:
Data Sources and Methodology
This transparency report for Allegro 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.