Boddie Noell Foundation
Boddie Noell Foundation maintains strong asset base with zero reported officer compensation.
EIN: 201897695 · Rocky Mount, NC · NTEE: T21 · Updated: 2026-03-28
Is Boddie Noell Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Boddie Noell Foundation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Boddie Noell Foundation
Boddie Noell Foundation (EIN: 201897695) is a nonprofit organization based in Rocky Mount, NC, classified under NTEE code T21. The organization reported total revenue of $2.3M and total assets of $6.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Boddie Noell Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Boddie Noell Foundation is a mid-size nonprofit that has been operating for 21 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 10.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $300K |
| Total Expenses | $375K |
| Surplus / Deficit | $-75,352 |
| Total Assets | $6.3M |
| Total Liabilities | $1 |
| Net Assets | $6.3M |
| Operating Margin | -25.1% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 201.0 months |
Financial Health Grade: B
In 2023, Boddie Noell Foundation reported a deficit of $75K with expenses exceeding revenue, holds 201.0 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Boddie Noell Foundation's revenue has grown at a compound annual growth rate (CAGR) of 10.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +5.0% | +18.2% | -1.2% |
| 2022 | -74.2% | +6.0% | -0.5% |
| 2021 | +234.8% | -5.5% | +14.4% |
| 2020 | -49.1% | -7.9% | +0.2% |
| 2019 | +30.4% | +22.7% | +39.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2005 |
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 Boddie Noell 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, Boddie Noell 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.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $75K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no salaries are paid to officers, directors, trustees, or key employees, which is highly unusual for an organization of its size and asset base. This suggests a very lean operational model or that all leadership roles are filled by unpaid volunteers.
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 Boddie Noell Foundation's IRS 990 filings:
- Expenses exceeded revenue in 2022 and 2023, though covered by assets.
Strengths
The following positive indicators were identified for Boddie Noell Foundation:
- Zero reported officer compensation, indicating high efficiency in leadership costs.
- Strong asset base of over $6 million, providing financial stability.
- Consistent history of IRS 990 filings, demonstrating transparency.
- Low liabilities, consistently reported as $0 or $1 across all filings.
Frequently Asked Questions about Boddie Noell Foundation
Is Boddie Noell Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Boddie Noell Foundation (EIN: 201897695) some concerns. Mission Score: 95/100. 1 red flag identified, 4 strengths noted.
How does Boddie Noell Foundation spend its money?
Boddie Noell Foundation directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Boddie Noell Foundation tax-deductible?
Boddie Noell Foundation is registered as a tax-exempt nonprofit (EIN: 201897695). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does the Boddie Noell Foundation manage to operate with zero officer compensation?
The filings consistently show $0 for officer compensation, suggesting that leadership roles are either entirely volunteer-based or compensated through other means not reported in this section, which is uncommon for an organization with over $6 million in assets.
What are the primary program activities funded by the Boddie Noell Foundation?
Based on the NTEE code T21 (Foundations, Grantmaking & Giving Services), the foundation likely engages in grantmaking to support other charitable organizations or causes, rather than direct program delivery.
Why did the foundation's revenue significantly increase in 2021 to over $1.1 million?
The spike in revenue in 2021 to $1,105,524, compared to prior and subsequent years, could be due to a large one-time donation, a significant investment gain, or a specific fundraising campaign that year.
Is the Boddie Noell Foundation financially sustainable given recent years where expenses exceeded revenue?
While expenses exceeded revenue in 2022 and 2023, the foundation's substantial asset base of over $6 million provides a significant buffer, indicating strong financial sustainability despite short-term fluctuations in revenue.
Filing History
IRS 990 filing history for Boddie Noell Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Boddie Noell Foundation's revenue has grown by 214.4%, moving from $95K to $300K. Total assets increased by 78.7% over the same period, from $3.5M to $6.3M. Total functional expenses rose by 79%, from $210K to $375K. In its most recent filing year (2023), Boddie Noell Foundation reported a deficit of $75K, with expenses exceeding revenue. The organization holds $1 in liabilities against $6.3M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $6.3M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $300K | $375K | $6.3M | $1 | — | View 990 |
| 2022 | $286K | $318K | $6.4M | $1 | — | View 990 |
| 2021 | $1.1M | $300K | $6.4M | $1 | — | View 990 |
| 2020 | $330K | $317K | $5.6M | $1 | — | View 990 |
| 2019 | $648K | $344K | $5.6M | $0 | — | View 990 |
| 2015 | $497K | $281K | $4.0M | $0 | — | View 990 |
| 2014 | $585K | $260K | $3.8M | $0 | — | View 990 |
| 2013 | $250K | $232K | $3.4M | $0 | — | View 990 |
| 2012 | $166K | $253K | $3.4M | $0 | — | View 990 |
| 2011 | $95K | $210K | $3.5M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $300K, expenses of $375K, and assets of $6.3M (revenue +5.0% year-over-year).
- 2022: Revenue of $286K, expenses of $318K, and assets of $6.4M (revenue -74.2% year-over-year).
- 2021: Revenue of $1.1M, expenses of $300K, and assets of $6.4M (revenue +234.8% year-over-year).
- 2020: Revenue of $330K, expenses of $317K, and assets of $5.6M (revenue -49.1% year-over-year).
- 2019: Revenue of $648K, expenses of $344K, and assets of $5.6M (revenue +30.4% year-over-year).
- 2015: Revenue of $497K, expenses of $281K, and assets of $4.0M (revenue -15.1% year-over-year).
- 2014: Revenue of $585K, expenses of $260K, and assets of $3.8M (revenue +133.9% year-over-year).
- 2013: Revenue of $250K, expenses of $232K, and assets of $3.4M (revenue +51.2% year-over-year).
- 2012: Revenue of $166K, expenses of $253K, and assets of $3.4M (revenue +73.5% year-over-year).
- 2011: Revenue of $95K, expenses of $210K, and assets of $3.5M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Boddie Noell Foundation:
Data Sources and Methodology
This transparency report for Boddie Noell 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.