Boyd Works Foundation Inc
Boyd Works Foundation Inc. consistently spends more than it earns, drawing on substantial assets.
EIN: 113709206 · Henderson, NC · NTEE: B99 · Updated: 2026-03-28
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| Metric | Value |
|---|---|
| Total Revenue | $283K |
| Total Expenses | $719K |
| Program Spending | 70% |
| Net Assets | $11.9M |
| Transparency Score | 60/100 |
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Boyd Works Foundation Inc Form 990, Revenue, CEO Pay, and IRS Filing Signals
Boyd Works Foundation Inc is surfaced here as a decision-ready nonprofit financial profile, not just a charity listing. The page consolidates IRS Form 990 revenue, expenses, assets, tax-exempt classification, executive compensation, mission score, red flags, and year-by-year filing history so donors, researchers, journalists, and grant teams can answer the common search questions around Boyd Works Foundation Inc in one place.
Form 990 Filing Summary
10 filing years are available, with latest revenue of $293K and expenses of $719K.
Revenue and Expenses
Boyd Works Foundation Inc reported $293K in revenue and $719K in expenses, a deficit of $426K.
Executive Compensation
Officer, director, trustee, and key employee pay is reviewed from IRS 990 compensation disclosures when present.
Charity Score and Red Flags
60/100 mission score, 3 red flags, and 3 strengths are shown from structured and AI review.
Is Boyd Works Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
IRS 990 Data Cockpit
Where the Money Comes From and Where It Goes
Revenue Source Mix
Revenue-source line items are not available on the stored filing yet. Future ingestion now preserves contribution, program-revenue, and investment-income fields when ProPublica provides them.
Expense Deployment
| Program services | $504K (70%) |
Across stored filings, Boyd Works Foundation Inc shows contribution history pending. Next enrichment targets: revenue-source fields, IRS BMF classification.
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| Decision Lens | Signal | What to Inspect Next |
|---|---|---|
| Legitimacy | Some Concerns | Good filing record; 3 red flags identified |
| Mission spend | 70% to programs | Good |
| Financial durability | Grade B | 10 stored filing years |
| Peer context | Compare with Cccp Community Trust | North Carolina and Education context |
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Boyd Works Foundation Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Boyd Works Foundation Inc
Boyd Works Foundation Inc (EIN: 113709206) is a nonprofit organization based in Henderson, NC, classified under NTEE code B99. The organization reported total revenue of $283K and total assets of $11.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Boyd Works Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Boyd Works Foundation Inc is a small nonprofit that has been operating for 20 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -10.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $293K |
| Total Expenses | $719K |
| Surplus / Deficit | $-426,025 |
| Total Assets | $11.9M |
| Total Liabilities | $1 |
| Net Assets | $11.9M |
| Operating Margin | -145.3% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 198.9 months |
Financial Health Grade: B
In 2023, Boyd Works Foundation Inc reported a deficit of $426K with expenses exceeding revenue, holds 198.9 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), Boyd Works Foundation Inc's revenue has declined at a compound annual growth rate (CAGR) of -10.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +95120.1% | +16.2% | -3.5% |
| 2022 | +0.0% | +92.6% | -4.8% |
| 2021 | -100.0% | -10.8% | -2.4% |
| 2020 | -7.0% | -57.8% | +10.3% |
| 2019 | -18.3% | +79.8% | +27.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2006 |
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 Boyd Works Foundation Inc with a Mission Score of 60 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Boyd Works Foundation Inc allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $426K, 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 funds are allocated to officer salaries, which is a strong positive for resource allocation relative to the organization's size and mission.
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 Boyd Works Foundation Inc's IRS 990 filings:
- Consistent deficit spending (expenses significantly exceed revenue, e.g., $719,303 expenses vs. $293,278 revenue in 2023).
- Significant and unexplained drop in revenue in recent years (from over $1.6M to under $300K).
- Reliance on asset drawdowns to cover operational shortfalls.
Strengths
The following positive indicators were identified for Boyd Works Foundation Inc:
- Zero officer compensation reported across all filings, indicating efficient use of funds for leadership.
- Maintains substantial assets ($11,920,726 in 2023), providing a buffer despite operational deficits.
- Minimal liabilities reported in recent years ($1 in 2023), indicating good debt management.
Frequently Asked Questions about Boyd Works Foundation Inc
Is Boyd Works Foundation Inc a legitimate charity?
Boyd Works Foundation Inc (EIN: 113709206) is a registered tax-exempt nonprofit based in North Carolina. Our AI analysis gives it a Mission Score of 60/100. It has 10 years of IRS 990 filings on record. Total revenue: $283K. 3 red flags identified. 3 strengths noted. Financial health grade: B.
How does Boyd Works Foundation Inc spend its money?
Boyd Works Foundation Inc directs 70% of its spending to programs and services. Fundraising costs 10%. This meets the 65% industry benchmark.
Are donations to Boyd Works Foundation Inc tax-deductible?
Boyd Works Foundation Inc is registered as a tax-exempt nonprofit (EIN: 113709206). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Boyd Works Foundation Inc's spending goes to programs?
Boyd Works Foundation Inc directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
How does Boyd Works Foundation Inc compare to similar nonprofits?
With a transparency score of 60/100 (Good), Boyd Works Foundation Inc is above average for NTEE category B99 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Boyd Works Foundation Inc located?
Boyd Works Foundation Inc is headquartered in Henderson, North Carolina and files with the IRS under EIN 113709206. It is classified under NTEE code B99.
How many years of IRS 990 filings does Boyd Works Foundation Inc have?
Boyd Works Foundation Inc 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 $283K in total revenue.
Is Boyd Works Foundation Inc. a good charity?
While the organization has substantial assets and reports no officer compensation, its consistent deficit spending (e.g., $719,303 expenses vs. $293,278 revenue in 2023) raises concerns about long-term financial sustainability. A more detailed breakdown of how expenses are allocated to programs versus administrative costs would be needed for a definitive assessment.
How does Boyd Works Foundation Inc. sustain its operations with consistent deficits?
The organization appears to be drawing down on its significant asset base (e.g., assets decreased from $12,965,593 in 2021 to $11,920,726 in 2023) to cover the difference between its expenses and revenues. This is not a sustainable model without a plan to increase revenue or decrease expenses.
What caused the significant drop in revenue from 2019-2020 to 2021-2023?
Revenue significantly decreased from over $1.6 million in 2019 and 2020 to just $308 in 2021 and 2022, before a slight recovery to $293,278 in 2023. The filings do not provide an explanation for this drastic and sustained decline, which is a critical factor impacting financial health.
Filing History
IRS 990 filing history for Boyd Works Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Boyd Works Foundation Inc's revenue has declined by 73.1%, moving from $1.1M to $293K. Total assets increased by 12.8% over the same period, from $10.6M to $11.9M. Total functional expenses fell by 19.3%, from $891K to $719K. In its most recent filing year (2023), Boyd Works Foundation Inc reported a deficit of $426K, with expenses exceeding revenue. The organization holds $1 in liabilities against $11.9M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $11.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $293K | $719K | $11.9M | $1 | — | View 990 |
| 2022 | $308 | $619K | $12.3M | $1 | — | View 990 |
| 2021 | $308 | $322K | $13.0M | $1 | — | View 990 |
| 2020 | $1.6M | $360K | $13.3M | $1 | — | View 990 |
| 2019 | $1.7M | $854K | $12.0M | $0 | — | View 990 |
| 2015 | $2.1M | $475K | $9.4M | $1 | — | View 990 |
| 2014 | $1.3M | $629K | $11.3M | $3.5M | — | View 990 |
| 2013 | $1.1M | $741K | $11.0M | $3.9M | — | View 990 |
| 2012 | $1.1M | $589K | $11.5M | $4.8M | — | View 990 |
| 2011 | $1.1M | $891K | $10.6M | $5.1M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $293K, expenses of $719K, and assets of $11.9M (revenue +95120.1% year-over-year).
- 2022: Revenue of $308, expenses of $619K, and assets of $12.3M (revenue +0.0% year-over-year).
- 2021: Revenue of $308, expenses of $322K, and assets of $13.0M (revenue -100.0% year-over-year).
- 2020: Revenue of $1.6M, expenses of $360K, and assets of $13.3M (revenue -7.0% year-over-year).
- 2019: Revenue of $1.7M, expenses of $854K, and assets of $12.0M (revenue -18.3% year-over-year).
- 2015: Revenue of $2.1M, expenses of $475K, and assets of $9.4M (revenue +57.4% year-over-year).
- 2014: Revenue of $1.3M, expenses of $629K, and assets of $11.3M (revenue +21.3% year-over-year).
- 2013: Revenue of $1.1M, expenses of $741K, and assets of $11.0M (revenue -0.9% year-over-year).
- 2012: Revenue of $1.1M, expenses of $589K, and assets of $11.5M (revenue +2.3% year-over-year).
- 2011: Revenue of $1.1M, expenses of $891K, and assets of $10.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Boyd Works Foundation Inc:
Data Sources and Methodology
This transparency report for Boyd Works 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.