Carl C Icahn Foundation
Carl C Icahn Foundation maintains substantial assets with zero reported officer compensation amidst fluctuating revenues.
EIN: 133913393 · Sunny Isles Beach, FL · Updated: 2026-03-28
Is Carl C Icahn Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Carl C Icahn Foundation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Carl C Icahn Foundation
Carl C Icahn Foundation (EIN: 133913393) is a nonprofit organization based in Sunny Isles Beach, FL. The organization reported total revenue of $4.7M and total assets of $138.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Carl C Icahn Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Carl C Icahn Foundation is a mid-size nonprofit that has been operating for 29 years, with 11 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -0.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $3.9M |
| Total Expenses | $565K |
| Surplus / Deficit | +$3.4M |
| Total Assets | $140.0M |
| Total Liabilities | $1 |
| Net Assets | $140.0M |
| Operating Margin | 85.7% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 2974.7 months |
Financial Health Grade: A
In 2023, Carl C Icahn Foundation reported a surplus of $3.4M with revenue exceeding expenses, holds 2974.7 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 11 years of filings (2011–2023), Carl C Icahn Foundation's revenue has declined at a compound annual growth rate (CAGR) of -0.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +284.8% | -49.0% | -5.1% |
| 2022 | +190.2% | +230.0% | -1.0% |
| 2021 | -98.6% | -89.8% | -0.2% |
| 2020 | +2580.4% | +1153.6% | +8.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1997 |
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 Carl C Icahn Foundation with a Mission Score of 85 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, Carl C Icahn 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 surplus of $3.4M, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The Carl C Icahn Foundation consistently reports 0% officer compensation across all available filings, indicating that no salaries or other compensation are paid to its officers. This is highly unusual for an organization of its size with assets exceeding $138 million, suggesting that leadership may be unpaid or compensated through other entities, or that the foundation operates with minimal paid executive staff.
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 Carl C Icahn Foundation's IRS 990 filings:
- Significant revenue volatility, including negative revenue in 2016, which could indicate reliance on unpredictable investment performance.
- Lack of detailed expense breakdown (program vs. admin vs. fundraising) in the provided summary, limiting a full understanding of resource allocation.
Strengths
The following positive indicators were identified for Carl C Icahn Foundation:
- Consistently reports 0% officer compensation, indicating high efficiency in executive pay.
- Maintains substantial assets (over $138 million), providing strong financial stability and capacity for future giving.
- Expenses are generally a small fraction of revenue and assets, suggesting conservative and efficient spending.
- Strong asset base provides a significant endowment for long-term philanthropic activities.
Frequently Asked Questions about Carl C Icahn Foundation
Is Carl C Icahn Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Carl C Icahn Foundation (EIN: 133913393) some concerns. Mission Score: 85/100. 2 red flags identified, 4 strengths noted.
How does Carl C Icahn Foundation spend its money?
Carl C Icahn Foundation directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Carl C Icahn Foundation tax-deductible?
Carl C Icahn Foundation is registered as a tax-exempt nonprofit (EIN: 133913393). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is the Carl C Icahn Foundation a good charity?
Based on the provided data, the foundation exhibits strong financial health with substantial assets and consistently reports 0% officer compensation, suggesting high efficiency in executive pay. Its spending appears conservative relative to its endowment. However, without detailed program spending information, a full assessment of its direct impact is limited.
How does the foundation manage its significant assets?
The foundation holds substantial assets, over $138 million in recent years, which generate fluctuating revenues. This suggests a significant portion of its financial activity involves investment management, with returns contributing to its revenue base, as seen by the $25.7 million revenue spike in 2020.
What is the primary source of the foundation's revenue?
The revenue figures vary significantly year-to-year, including a negative revenue period in 2016 and a large positive spike in 2020. This volatility, combined with substantial assets, suggests that investment income, capital gains, or large, infrequent contributions are likely primary revenue sources rather than consistent operational fundraising.
Why is officer compensation consistently zero?
The consistent reporting of 0% officer compensation is highly unusual for an organization of this scale. It could indicate that officers are volunteers, compensated by a related entity, or that the foundation's operational model does not involve paid executive staff, which contributes to high administrative efficiency.
Filing History
IRS 990 filing history for Carl C Icahn Foundation showing financial trends over 11 years of public records:
Over 11 years of IRS 990 filings (2011–2023), Carl C Icahn Foundation's revenue has declined by 8.3%, moving from $4.3M to $3.9M. Total assets decreased by 23.1% over the same period, from $182.0M to $140.0M. Total functional expenses fell by 75.8%, from $2.3M to $565K. In its most recent filing year (2023), Carl C Icahn Foundation reported a surplus of $3.4M, with revenue exceeding expenses. The organization holds $1 in liabilities against $140.0M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $140.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $3.9M | $565K | $140.0M | $1 | — | View 990 |
| 2022 | $1.0M | $1.1M | $147.6M | $1 | — | View 990 |
| 2021 | $353K | $335K | $149.2M | $5K | — | View 990 |
| 2020 | $25.7M | $3.3M | $149.5M | $48K | — | View 990 |
| 2019 | $960K | $262K | $138.1M | $48K | — | View 990 |
| 2016 | $-795,941 | $3.7M | $187.4M | $32.1M | — | View 990 |
| 2015 | $4.8M | $4.5M | $198.5M | $35.8M | — | View 990 |
| 2014 | $4.3M | $4.4M | $200.1M | $37.9M | — | View 990 |
| 2013 | $4.5M | $24.9M | $203.8M | $42.1M | — | View 990 |
| 2012 | $4.9M | $4.0M | $203.2M | $22.1M | — | View 990 |
| 2011 | $4.3M | $2.3M | $182.0M | $2.7M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $3.9M, expenses of $565K, and assets of $140.0M (revenue +284.8% year-over-year).
- 2022: Revenue of $1.0M, expenses of $1.1M, and assets of $147.6M (revenue +190.2% year-over-year).
- 2021: Revenue of $353K, expenses of $335K, and assets of $149.2M (revenue -98.6% year-over-year).
- 2020: Revenue of $25.7M, expenses of $3.3M, and assets of $149.5M (revenue +2580.4% year-over-year).
- 2019: Revenue of $960K, expenses of $262K, and assets of $138.1M.
- 2016: Revenue of $-795,941, expenses of $3.7M, and assets of $187.4M (revenue -116.7% year-over-year).
- 2015: Revenue of $4.8M, expenses of $4.5M, and assets of $198.5M (revenue +11.4% year-over-year).
- 2014: Revenue of $4.3M, expenses of $4.4M, and assets of $200.1M (revenue -5.6% year-over-year).
- 2013: Revenue of $4.5M, expenses of $24.9M, and assets of $203.8M (revenue -7.4% year-over-year).
- 2012: Revenue of $4.9M, expenses of $4.0M, and assets of $203.2M (revenue +13.7% year-over-year).
- 2011: Revenue of $4.3M, expenses of $2.3M, and assets of $182.0M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Carl C Icahn Foundation:
Data Sources and Methodology
This transparency report for Carl C Icahn 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.