Carle C Conway Scholarship Foundation
Carle C Conway Scholarship Foundation consistently disburses more than annual revenue, drawing on substantial assets to fund scholarships with no reported officer compensation.
EIN: 136088936 · Stamford, CT · Updated: 2026-03-28
Is Carle C Conway Scholarship Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Carle C Conway Scholarship Foundation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Carle C Conway Scholarship Foundation
Carle C Conway Scholarship Foundation (EIN: 136088936) is a nonprofit organization based in Stamford, CT. The organization reported total revenue of $2.0M and total assets of $2.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Carle C Conway Scholarship Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Carle C Conway Scholarship Foundation is a mid-size nonprofit that has been operating for 74 years, with 9 years of IRS 990 filings on record (2012–2024). Revenue has grown at a compound annual rate of 13.9%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $546K |
| Total Expenses | $568K |
| Surplus / Deficit | $-21,935 |
| Total Assets | $1.9M |
| Total Liabilities | $1 |
| Net Assets | $1.9M |
| Operating Margin | -4.0% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 40.7 months |
Financial Health Grade: B
In 2024, Carle C Conway Scholarship Foundation reported a deficit of $22K with expenses exceeding revenue, holds 40.7 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 9 years of filings (2012–2024), Carle C Conway Scholarship Foundation's revenue has grown at a compound annual growth rate (CAGR) of 13.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +69.1% | +4.5% | -1.1% |
| 2023 | -38.2% | +31.2% | -10.2% |
| 2022 | +85.7% | -41.1% | +5.2% |
| 2021 | -14.7% | +13.6% | -17.0% |
| 2020 | +181.2% | +96.4% | -26.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1952 |
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 Carle C Conway Scholarship Foundation with a Mission Score of 92 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, Carle C Conway Scholarship 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 (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $22K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The organization reports 0% officer compensation across all available filings, indicating that leadership is likely volunteer-based or compensated through other means not reported as officer compensation, which is highly efficient for an organization of its size with assets over $2 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.
Red Flags
The following concerns were identified during AI analysis of Carle C Conway Scholarship Foundation's IRS 990 filings:
- Consistent spending exceeding revenue, leading to a gradual decline in assets over the long term (from $3.8M in 2012 to $1.9M in 2024), which could impact long-term sustainability if not managed.
Strengths
The following positive indicators were identified for Carle C Conway Scholarship Foundation:
- Strong program spending, consistently disbursing funds for its mission.
- Zero reported officer compensation, indicating high efficiency and dedication.
- Healthy asset base (over $1.9 million in 2024) providing financial stability.
- Consistent IRS 990 filing history, demonstrating transparency.
- Minimal liabilities ($1 reported in recent years), indicating sound financial management.
Frequently Asked Questions about Carle C Conway Scholarship Foundation
Is Carle C Conway Scholarship Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Carle C Conway Scholarship Foundation (EIN: 136088936) some concerns. Mission Score: 92/100. 1 red flag identified, 5 strengths noted.
How does Carle C Conway Scholarship Foundation spend its money?
Carle C Conway Scholarship Foundation directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Carle C Conway Scholarship Foundation tax-deductible?
Carle C Conway Scholarship Foundation is registered as a tax-exempt nonprofit (EIN: 136088936). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Carle C Conway Scholarship Foundation a good charity?
Based on the available data, the Carle C Conway Scholarship Foundation appears to be a very good charity. It consistently spends more than its annual revenue on its mission, has a substantial asset base, and reports no officer compensation, indicating high efficiency and dedication to its program.
How does the foundation manage its expenses relative to its revenue?
In recent years, the foundation has frequently spent more than its annual revenue, such as in 2024 ($567,942 expenses vs. $546,007 revenue) and 2023 ($543,337 expenses vs. $322,800 revenue). This suggests it actively draws from its endowment to fund its scholarship programs.
What is the trend in the foundation's assets?
The foundation's assets have gradually decreased over the long term, from $3,866,923 in 2012 to $1,926,982 in 2024, likely due to consistent spending exceeding revenue. However, the current asset base of over $1.9 million remains substantial.
Does the foundation have high administrative costs?
The foundation appears to have very low administrative costs, particularly given the 0% reported officer compensation. This suggests a highly efficient operational model, likely with significant volunteer involvement.
Filing History
IRS 990 filing history for Carle C Conway Scholarship Foundation showing financial trends over 9 years of public records:
Over 9 years of IRS 990 filings (2012–2024), Carle C Conway Scholarship Foundation's revenue has grown by 377.4%, moving from $114K to $546K. Total assets decreased by 50.2% over the same period, from $3.9M to $1.9M. Total functional expenses rose by 65.5%, from $343K to $568K. In its most recent filing year (2024), Carle C Conway Scholarship Foundation reported a deficit of $22K, with expenses exceeding revenue. The organization holds $1 in liabilities against $1.9M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $1.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $546K | $568K | $1.9M | $1 | — | View 990 |
| 2023 | $323K | $543K | $1.9M | $1 | — | View 990 |
| 2022 | $522K | $414K | $2.2M | $1 | — | View 990 |
| 2021 | $281K | $703K | $2.1M | $1 | — | View 990 |
| 2020 | $330K | $619K | $2.5M | $1 | — | View 990 |
| 2015 | $117K | $315K | $3.4M | $0 | — | — |
| 2014 | $238K | $328K | $3.6M | $0 | — | View 990 |
| 2013 | $114K | $315K | $3.7M | $0 | — | View 990 |
| 2012 | $114K | $343K | $3.9M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $546K, expenses of $568K, and assets of $1.9M (revenue +69.1% year-over-year).
- 2023: Revenue of $323K, expenses of $543K, and assets of $1.9M (revenue -38.2% year-over-year).
- 2022: Revenue of $522K, expenses of $414K, and assets of $2.2M (revenue +85.7% year-over-year).
- 2021: Revenue of $281K, expenses of $703K, and assets of $2.1M (revenue -14.7% year-over-year).
- 2020: Revenue of $330K, expenses of $619K, and assets of $2.5M (revenue +181.2% year-over-year).
- 2015: Revenue of $117K, expenses of $315K, and assets of $3.4M (revenue -50.7% year-over-year).
- 2014: Revenue of $238K, expenses of $328K, and assets of $3.6M (revenue +109.0% year-over-year).
- 2013: Revenue of $114K, expenses of $315K, and assets of $3.7M (revenue -0.5% year-over-year).
- 2012: Revenue of $114K, expenses of $343K, and assets of $3.9M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Carle C Conway Scholarship Foundation:
Data Sources and Methodology
This transparency report for Carle C Conway Scholarship 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.