Carl E Touhey Foundation
Carl E Touhey Foundation: Significant Asset Growth, Minimal Program Spending
EIN: 223016226 · Albany, NY · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $13.2M |
| Total Expenses | $7.0M |
| CEO/Top Officer Pay | $6,994,056 |
| Net Assets | $39.5M |
| Transparency Score | 25/100 |
Is Carl E Touhey Foundation Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Carl E Touhey Foundation
Carl E Touhey Foundation (EIN: 223016226) is a nonprofit organization based in Albany, NY. The organization reported total revenue of $13.2M and total assets of $37.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Carl E Touhey Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Carl E Touhey Foundation is a large nonprofit that has been operating for 36 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 33.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $5.6M |
| Total Expenses | $7.0M |
| Surplus / Deficit | $-1,426,009 |
| Total Assets | $39.6M |
| Total Liabilities | $158K |
| Net Assets | $39.5M |
| Operating Margin | -25.6% |
| Debt-to-Asset Ratio | 0.4% |
| Months of Reserves | 68.0 months |
Financial Health Grade: B
In 2023, Carl E Touhey Foundation reported a deficit of $1.4M with expenses exceeding revenue, holds 68.0 months of operating reserves (strong position), has a debt-to-asset ratio of 0.4% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Carl E Touhey Foundation's revenue has grown at a compound annual growth rate (CAGR) of 33.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +50.3% | -6.6% | +1.0% |
| 2022 | -28.7% | +14.8% | -17.8% |
| 2021 | +51.9% | +18.5% | -5.9% |
| 2020 | -2.5% | +14.1% | +1.7% |
| 2019 | -47.2% | +791.0% | +544.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1990 |
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 E Touhey Foundation with a Mission Score of 25 out of 100 (Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 100%
- programs: 0%
- fundraising: 0%
According to IRS 990 filings, Carl E Touhey Foundation allocates its expenses as follows: admin: 100%, programs: 0%, fundraising: 0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $1.4M, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.4%.
Executive Compensation Analysis
Executive compensation is not explicitly detailed in the provided data, but given 100% of expenses are administrative, it is likely covered within these figures, which were $6,994,056 in 2023.
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 E Touhey Foundation's IRS 990 filings:
- Zero reported program service expenses across all years, despite significant assets and revenue.
- 100% of reported expenses consistently allocated to administrative costs.
- Substantial assets ($37,158,712 in 2023) with no direct charitable output.
- The foundation's purpose ('nt' field is '?') is unclear, making it difficult to assess its mission effectiveness.
Strengths
The following positive indicators were identified for Carl E Touhey Foundation:
- Significant asset base, growing from $1,633,420 in 2014 to $37,158,712 in 2023.
- No reported fundraising expenses, indicating efficient asset management without external solicitation.
Frequently Asked Questions about Carl E Touhey Foundation
Is Carl E Touhey Foundation a legitimate charity?
Carl E Touhey Foundation (EIN: 223016226) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 25/100. It has 10 years of IRS 990 filings on record. Total revenue: $13.2M. 4 red flags identified. 2 strengths noted. Financial health grade: B.
How does Carl E Touhey Foundation spend its money?
Carl E Touhey Foundation reported $13.2M in total revenue in IRS 990 filings. 10 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Carl E Touhey Foundation tax-deductible?
Carl E Touhey Foundation is registered as a tax-exempt nonprofit (EIN: 223016226). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Carl E Touhey Foundation CEO make?
Carl E Touhey Foundation's highest-compensated officer earns $6,994,056 annually. The organization reported $13.2M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
Where is Carl E Touhey Foundation located?
Carl E Touhey Foundation is headquartered in Albany, New York and files with the IRS under EIN 223016226.
How many years of IRS 990 filings does Carl E Touhey Foundation have?
Carl E Touhey Foundation 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 $13.2M in total revenue.
What does Carl E Touhey Foundation do?
Carl E Touhey Foundation is a nonprofit organization in the Unknown sector, located in Albany, New York. It is classified under NTEE code Unknown.
How much revenue does Carl E Touhey Foundation have?
Carl E Touhey Foundation reported total revenue of $13,182,593. Based on 10 IRS 990 filings on record.
What are Carl E Touhey Foundation's total assets?
Carl E Touhey Foundation holds total assets of $37,158,712 as reported in IRS 990 filings.
Where is Carl E Touhey Foundation located?
Carl E Touhey Foundation is based in Albany, New York.
What is Carl E Touhey Foundation's EIN?
Carl E Touhey Foundation's Employer Identification Number (EIN) is 223016226. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Carl E Touhey Foundation?
Carl E Touhey Foundation is classified under NTEE code Unknown (Unknown).
Is Carl E Touhey Foundation a registered 501(c)(3)?
Carl E Touhey Foundation appears in IRS records (EIN: 223016226). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Carl E Touhey Foundation file IRS Form 990?
Yes, Carl E Touhey Foundation has 10 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Carl E Touhey Foundation's revenue in 2023?
In the 202312 filing period, Carl E Touhey Foundation reported total revenue of $5,568,047, total expenses of $6,994,056, and net assets of $39,632,227.
Is Carl E Touhey Foundation's revenue growing or declining?
Carl E Touhey Foundation's revenue is growing. Revenue went from $3,703,426 (202212) to $5,568,047 (202312), a +50.3% change. Based on 10 filings on record.
What is Carl E Touhey Foundation's most recent 990 filing?
The most recent IRS Form 990 filing for Carl E Touhey Foundation covers tax period 202312. It shows revenue of $5,568,047, expenses of $6,994,056, total assets of $39,632,227, and liabilities of $157,988.
Is Carl E Touhey Foundation a trustworthy charity?
Based on AI analysis of IRS 990 data, Carl E Touhey Foundation has notable concerns. Mission Score: 25/100 (Poor). 4 red flags identified. 2 strengths noted.
What are the red flags for Carl E Touhey Foundation?
The following concerns were identified: Zero reported program service expenses across all years, despite significant assets and revenue.. 100% of reported expenses consistently allocated to administrative costs.. Substantial assets ($37,158,712 in 2023) with no direct charitable output.. The foundation's purpose ('nt' field is '?') is unclear, making it difficult to assess its mission effectiveness.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Carl E Touhey Foundation's strengths?
Positive indicators for Carl E Touhey Foundation include: Significant asset base, growing from $1,633,420 in 2014 to $37,158,712 in 2023.. No reported fundraising expenses, indicating efficient asset management without external solicitation.. These findings are derived from AI analysis of the organization's financial filings.
How does Carl E Touhey Foundation compensate executives?
Executive compensation is not explicitly detailed in the provided data, but given 100% of expenses are administrative, it is likely covered within these figures, which were $6,994,056 in 2023. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the consistent reporting of 0% program service expenses and 100% administrative expenses, what is the actual charitable mechanism or purpose of the Carl E Touhey Foundation?
The provided data suggests the foundation primarily functions as an asset holding and management entity, with no direct charitable programs or grants reported. Its charitable activities, if any, are not reflected in the 'program service expenses' line item.
How does the foundation justify its substantial administrative expenses, such as $6,994,056 in 2023, when no direct programs are being run?
Without further detail, it's challenging to justify. These expenses likely cover investment management fees, salaries for administrative staff, legal, accounting, and operational overhead associated with managing a multi-million dollar endowment, rather than direct charitable activities.
Filing History
IRS 990 filing history for Carl E Touhey Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Carl E Touhey Foundation's revenue has grown by 3206.8%, moving from $168K to $5.6M. Total assets increased by 1495% over the same period, from $2.5M to $39.6M. Total functional expenses rose by 3182.8%, from $213K to $7.0M. In its most recent filing year (2023), Carl E Touhey Foundation reported a deficit of $1.4M, with expenses exceeding revenue. The organization holds $158K in liabilities against $39.6M in assets (debt-to-asset ratio: 0.4%), resulting in net assets of $39.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $5.6M | $7.0M | $39.6M | $158K | — | — |
| 2022 | $3.7M | $7.5M | $39.2M | $132K | — | View 990 |
| 2021 | $5.2M | $6.5M | $47.7M | $197K | — | View 990 |
| 2020 | $3.4M | $5.5M | $50.7M | $192K | — | — |
| 2019 | $3.5M | $4.8M | $49.9M | $200K | — | View 990 |
| 2015 | $6.6M | $541K | $7.7M | $444 | — | View 990 |
| 2014 | $226K | $422K | $1.6M | $444 | — | View 990 |
| 2013 | $47K | $353K | $1.8M | $16K | — | View 990 |
| 2012 | $44K | $393K | $2.1M | $1 | — | View 990 |
| 2011 | $168K | $213K | $2.5M | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $5.6M, expenses of $7.0M, and assets of $39.6M (revenue +50.3% year-over-year).
- 2022: Revenue of $3.7M, expenses of $7.5M, and assets of $39.2M (revenue -28.7% year-over-year).
- 2021: Revenue of $5.2M, expenses of $6.5M, and assets of $47.7M (revenue +51.9% year-over-year).
- 2020: Revenue of $3.4M, expenses of $5.5M, and assets of $50.7M (revenue -2.5% year-over-year).
- 2019: Revenue of $3.5M, expenses of $4.8M, and assets of $49.9M (revenue -47.2% year-over-year).
- 2015: Revenue of $6.6M, expenses of $541K, and assets of $7.7M (revenue +2842.8% year-over-year).
- 2014: Revenue of $226K, expenses of $422K, and assets of $1.6M (revenue +378.2% year-over-year).
- 2013: Revenue of $47K, expenses of $353K, and assets of $1.8M (revenue +7.7% year-over-year).
- 2012: Revenue of $44K, expenses of $393K, and assets of $2.1M (revenue -74.0% year-over-year).
- 2011: Revenue of $168K, expenses of $213K, and assets of $2.5M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Carl E Touhey Foundation:
Data Sources and Methodology
This transparency report for Carl E Touhey 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.