Balmer Foundation Inc
EIN: 562206524 · Spartanburg, SC · NTEE: T11
| Metric | Value |
|---|---|
| Total Revenue | $634K |
| Total Expenses | $5.5M |
| Net Assets | $33.0M |
Is Balmer Foundation Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Balmer Foundation Inc
Balmer Foundation Inc (EIN: 562206524) is a nonprofit organization based in Spartanburg, SC, classified under NTEE code T11. The organization reported total revenue of $634K and total assets of $32.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Balmer Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Balmer Foundation Inc is a small nonprofit that has been operating for 25 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 34.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $887K |
| Total Expenses | $5.5M |
| Surplus / Deficit | $-4,603,042 |
| Total Assets | $33.0M |
| Net Assets | $33.0M |
| Operating Margin | -519.1% |
| Months of Reserves | 72.2 months |
Financial Health Grade: B
In 2023, Balmer Foundation Inc reported a deficit of $4.6M with expenses exceeding revenue, holds 72.2 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2011–2023), Balmer Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 34.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +440.1% | +321.3% | -3.9% |
| 2022 | -75.3% | +63.1% | -15.1% |
| 2021 | -85.9% | -59.7% | +8.4% |
| 2020 | +317.0% | -17.8% | +21.7% |
| 2019 | -44.4% | -8.1% | +10.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2001 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Balmer Foundation Inc has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Balmer Foundation Inc with a Mission Score of 0 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.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $4.6M, with expenses exceeding revenue.
Frequently Asked Questions about Balmer Foundation Inc
Is Balmer Foundation Inc a legitimate charity?
Balmer Foundation Inc (EIN: 562206524) is a registered tax-exempt nonprofit based in South Carolina. It has 13 years of IRS 990 filings on record. Total revenue: $634K. No red flags identified. Financial health grade: B.
How does Balmer Foundation Inc spend its money?
Balmer Foundation Inc reported $634K in total revenue in IRS 990 filings. 13 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Balmer Foundation Inc tax-deductible?
Balmer Foundation Inc is registered as a tax-exempt nonprofit (EIN: 562206524). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Balmer Foundation Inc located?
Balmer Foundation Inc is headquartered in Spartanburg, South Carolina and files with the IRS under EIN 562206524. It is classified under NTEE code T11.
How many years of IRS 990 filings does Balmer Foundation Inc have?
Balmer 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 $634K in total revenue.
Filing History
IRS 990 filing history for Balmer Foundation Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Balmer Foundation Inc's revenue has grown by 3467.7%, moving from $25K to $887K. Total assets increased by 2627.3% over the same period, from $1.2M to $33.0M. Total functional expenses rose by 970.6%, from $513K to $5.5M. In its most recent filing year (2023), Balmer Foundation Inc reported a deficit of $4.6M, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $887K | $5.5M | $33.0M | $0 | — | — |
| 2022 | $164K | $1.3M | $34.4M | $0 | — | View 990 |
| 2021 | $666K | $799K | $40.5M | $0 | — | View 990 |
| 2020 | $4.7M | $2.0M | $37.4M | $0 | — | — |
| 2019 | $1.1M | $2.4M | $30.7M | $0 | — | View 990 |
| 2018 | $2.0M | $2.6M | $27.8M | $0 | — | View 990 |
| 2017 | $7.9M | $954K | $30.6M | $0 | — | View 990 |
| 2016 | $20.4M | $1.2M | $21.0M | $0 | — | View 990 |
| 2015 | $22K | $35K | $1.3M | $0 | — | View 990 |
| 2014 | $27K | $27K | $1.3M | $0 | — | View 990 |
| 2013 | $42K | $126K | $1.3M | $0 | — | View 990 |
| 2012 | $28K | $82K | $1.3M | $0 | — | View 990 |
| 2011 | $25K | $513K | $1.2M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $887K, expenses of $5.5M, and assets of $33.0M (revenue +440.1% year-over-year).
- 2022: Revenue of $164K, expenses of $1.3M, and assets of $34.4M (revenue -75.3% year-over-year).
- 2021: Revenue of $666K, expenses of $799K, and assets of $40.5M (revenue -85.9% year-over-year).
- 2020: Revenue of $4.7M, expenses of $2.0M, and assets of $37.4M (revenue +317.0% year-over-year).
- 2019: Revenue of $1.1M, expenses of $2.4M, and assets of $30.7M (revenue -44.4% year-over-year).
- 2018: Revenue of $2.0M, expenses of $2.6M, and assets of $27.8M (revenue -74.0% year-over-year).
- 2017: Revenue of $7.9M, expenses of $954K, and assets of $30.6M (revenue -61.4% year-over-year).
- 2016: Revenue of $20.4M, expenses of $1.2M, and assets of $21.0M (revenue +91221.7% year-over-year).
- 2015: Revenue of $22K, expenses of $35K, and assets of $1.3M (revenue -18.5% year-over-year).
- 2014: Revenue of $27K, expenses of $27K, and assets of $1.3M (revenue -34.5% year-over-year).
- 2013: Revenue of $42K, expenses of $126K, and assets of $1.3M (revenue +51.3% year-over-year).
- 2012: Revenue of $28K, expenses of $82K, and assets of $1.3M (revenue +11.2% year-over-year).
- 2011: Revenue of $25K, expenses of $513K, and assets of $1.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Balmer Foundation Inc:
Data Sources and Methodology
This transparency report for Balmer 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.