Bill And Carol Latimer Charitable Foundation

Bill And Carol Latimer Charitable Foundation shows consistent asset growth and no reported officer compensation across all filings.

EIN: 203450991 · Union City, TN · NTEE: B82 · Updated: 2026-03-28

$66.8MRevenue

$177.8MAssets

95/100Mission Score (Excellent)

B82

About Bill And Carol Latimer Charitable Foundation

Bill And Carol Latimer Charitable Foundation (EIN: 203450991) is a nonprofit organization based in Union City, TN, classified under NTEE code B82. The organization reported total revenue of $66.8M and total assets of $177.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Bill And Carol Latimer Charitable Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

The Bill And Carol Latimer Charitable Foundation demonstrates strong financial health, with its assets growing significantly from $124.5 million in 2011 to $161 million in 2023, and reaching $177.7 million most recently. The organization consistently reports minimal liabilities, often just $1, indicating a very stable financial position. Revenue has fluctuated but shows a strong upward trend in recent years, with $28.5 million in 2023 and $29.9 million in 2022, far exceeding expenses in those periods. This suggests a robust capacity for grantmaking and program support.

The foundation's spending efficiency appears high, as indicated by the substantial difference between revenue and expenses in recent years. For example, in 2023, expenses were $8.6 million against $28.5 million in revenue, suggesting a significant portion of funds are retained or directly allocated to program services. The absence of reported officer compensation across all available filings is a notable indicator of efficiency and potentially low administrative overhead, as it implies that leadership may be unpaid or compensated through other means not captured as officer compensation, or that the foundation operates with a volunteer board.

Transparency is generally good, with a consistent filing history of 10 IRS 990 forms. The detailed financial data provided in these filings allows for a clear understanding of the foundation's revenue, expenses, and asset growth. The lack of officer compensation also contributes to a perception of transparency regarding how funds are utilized, as a major potential area of concern for nonprofits is often executive pay. Overall, the foundation appears to be well-managed and financially sound, with a clear focus on its charitable mission.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Bill And Carol Latimer Charitable Foundation with a Mission Score of 95 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: 90%
fundraising: 0%

According to IRS 990 filings, Bill And Carol Latimer Charitable Foundation allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

Executive compensation is consistently reported as 0% across all available filings, indicating that officers are either unpaid volunteers or compensated through mechanisms not categorized as officer compensation on the 990 form, which is highly efficient for an organization with assets exceeding $160 million.

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.

Strengths

The following positive indicators were identified for Bill And Carol Latimer Charitable Foundation:

Consistent asset growth, from $124.5 million in 2011 to $161 million in 2023.
Zero reported officer compensation across all 10 filings, indicating high efficiency.
Extremely low liabilities (often $1), demonstrating strong financial health.
Strong revenue generation in recent years ($28.5M in 2023, $29.9M in 2022) relative to expenses.
Consistent filing history of 10 IRS 990 forms, indicating good transparency.

Frequently Asked Questions about Bill And Carol Latimer Charitable Foundation

Is the Bill And Carol Latimer Charitable Foundation financially stable?

Yes, the foundation is highly financially stable, with assets growing from $124.5 million in 2011 to $161 million in 2023, and consistently reporting minimal liabilities (often $1).

How much of the foundation's funds go to executive salaries?

Based on the IRS 990 filings, 0% of the foundation's funds are reported as officer compensation across all available periods, indicating no direct executive salaries are paid or reported in this category.

What is the trend in the foundation's revenue?

Revenue has fluctuated but shows a strong upward trend in recent years, with $28.5 million in 2023 and $29.9 million in 2022, significantly higher than earlier periods like $1.9 million in 2019.

Does the foundation have significant debt?

No, the foundation consistently reports extremely low liabilities, often just $1, indicating virtually no debt.

Filing History

IRS 990 filing history for Bill And Carol Latimer Charitable Foundation showing financial trends over 10 years of public records:

Over 10 years of IRS 990 filings (2011–2023), Bill And Carol Latimer Charitable Foundation's revenue has grown by 74.5%, moving from $16.4M to $28.5M. Total assets increased by 29.3% over the same period, from $124.6M to $161.0M. Total functional expenses rose by 44.7%, from $6.0M to $8.7M. In its most recent filing year (2023), Bill And Carol Latimer Charitable Foundation reported a surplus of $19.8M, with revenue exceeding expenses. The organization holds $1 in liabilities against $161.0M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $161.0M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$28.5M	$8.7M	$161.0M	$1	—	—
2022	$29.9M	$7.6M	$141.2M	$1	—	View 990
2021	$34.8M	$5.9M	$129.8M	$1	—	View 990
2020	$7.4M	$6.3M	$101.0M	$1	—	View 990
2019	$1.9M	$5.1M	$99.9M	$1	—	—
2015	$4.6M	$4.6M	$97.8M	$1	—	View 990
2014	$10.9M	$13.8M	$97.8M	$1	—	View 990
2013	$-75,173	$15.4M	$100.7M	$1	—	View 990
2012	$7.8M	$11.9M	$116.2M	$1	—	View 990
2011	$16.4M	$6.0M	$124.6M	$4.2M	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $28.5M, expenses of $8.7M, and assets of $161.0M (revenue -4.7% year-over-year).
2022: Revenue of $29.9M, expenses of $7.6M, and assets of $141.2M (revenue -14.0% year-over-year).
2021: Revenue of $34.8M, expenses of $5.9M, and assets of $129.8M (revenue +371.1% year-over-year).
2020: Revenue of $7.4M, expenses of $6.3M, and assets of $101.0M (revenue +286.2% year-over-year).
2019: Revenue of $1.9M, expenses of $5.1M, and assets of $99.9M (revenue -58.4% year-over-year).
2015: Revenue of $4.6M, expenses of $4.6M, and assets of $97.8M (revenue -57.7% year-over-year).
2014: Revenue of $10.9M, expenses of $13.8M, and assets of $97.8M.
2013: Revenue of $-75,173, expenses of $15.4M, and assets of $100.7M (revenue -101.0% year-over-year).
2012: Revenue of $7.8M, expenses of $11.9M, and assets of $116.2M (revenue -52.3% year-over-year).
2011: Revenue of $16.4M, expenses of $6.0M, and assets of $124.6M.

Data Sources and Methodology

This transparency report for Bill And Carol Latimer Charitable 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.