Carleen And Eugene Grandon Charitable Foundation
Grandon Charitable Foundation maintains substantial assets and zero officer compensation amidst volatile revenue.
EIN: 201134857 · Cedar Rapids, IA · NTEE: T22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $6.8M |
| Total Expenses | $1.7M |
| Program Spending | 90% |
| Net Assets | $29.5M |
| Transparency Score | 92/100 |
Is Carleen And Eugene Grandon Charitable Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Carleen And Eugene Grandon Charitable Foundation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Carleen And Eugene Grandon Charitable Foundation
Carleen And Eugene Grandon Charitable Foundation (EIN: 201134857) is a nonprofit organization based in Cedar Rapids, IA, classified under NTEE code T22. The organization reported total revenue of $6.8M and total assets of $31.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Carleen And Eugene Grandon Charitable Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Carleen And Eugene Grandon Charitable Foundation is a mid-size nonprofit that has been operating for 22 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 21.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $493K |
| Total Expenses | $1.7M |
| Surplus / Deficit | $-1,158,598 |
| Total Assets | $29.5M |
| Total Liabilities | $1 |
| Net Assets | $29.5M |
| Operating Margin | -235.2% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 214.3 months |
Financial Health Grade: B
In 2023, Carleen And Eugene Grandon Charitable Foundation reported a deficit of $1.2M with expenses exceeding revenue, holds 214.3 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), Carleen And Eugene Grandon Charitable Foundation's revenue has grown at a compound annual growth rate (CAGR) of 21.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -5.3% | +2.4% | +11.5% |
| 2022 | -98.3% | +2.6% | -21.7% |
| 2021 | +88056173.5% | +5514.2% | +316757.7% |
| 2020 | -100.0% | -67.6% | -72.4% |
| 2019 | -41.1% | -52.5% | +1829.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2004 |
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 Carleen And Eugene Grandon Charitable 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: 5%
- programs: 90%
- fundraising: 5%
According to IRS 990 filings, Carleen And Eugene Grandon Charitable Foundation allocates its expenses as follows: admin: 5%, programs: 90%, fundraising: 5%. 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 $1.2M, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The Carleen And Eugene Grandon Charitable Foundation consistently reports 0% officer compensation across all ten available filings, indicating that executive leadership is either unpaid or compensated through non-officer channels, which is highly favorable for donor funds.
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 Carleen And Eugene Grandon Charitable Foundation's IRS 990 filings:
- Significant revenue volatility, with a peak of $29.9 million in 2021 followed by a sharp decline to $0.5 million in 2023, could indicate reliance on unpredictable funding sources.
Strengths
The following positive indicators were identified for Carleen And Eugene Grandon Charitable Foundation:
- Consistent 0% officer compensation across all filings, indicating strong commitment to mission and efficient use of funds.
- Substantial and growing asset base, reaching $31,408,375, provides financial stability and capacity for future programs.
- Minimal liabilities reported across all periods, indicating sound financial management and low debt risk.
- Long history of IRS 990 filings (10 filings), demonstrating transparency and compliance.
Frequently Asked Questions about Carleen And Eugene Grandon Charitable Foundation
Is Carleen And Eugene Grandon Charitable Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Carleen And Eugene Grandon Charitable Foundation (EIN: 201134857) some concerns. Mission Score: 92/100. 1 red flag identified, 4 strengths noted.
How does Carleen And Eugene Grandon Charitable Foundation spend its money?
Carleen And Eugene Grandon Charitable Foundation directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Carleen And Eugene Grandon Charitable Foundation tax-deductible?
Carleen And Eugene Grandon Charitable Foundation is registered as a tax-exempt nonprofit (EIN: 201134857). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Carleen And Eugene Grandon Charitable Foundation's spending goes to programs?
Carleen And Eugene Grandon Charitable Foundation directs 90% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Carleen And Eugene Grandon Charitable Foundation compare to similar nonprofits?
With a transparency score of 92/100 (Excellent), Carleen And Eugene Grandon Charitable Foundation is above average for NTEE category T22 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Carleen And Eugene Grandon Charitable Foundation located?
Carleen And Eugene Grandon Charitable Foundation is headquartered in Cedar Rapids, Iowa and files with the IRS under EIN 201134857. It is classified under NTEE code T22.
How many years of IRS 990 filings does Carleen And Eugene Grandon Charitable Foundation have?
Carleen And Eugene Grandon Charitable 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 $6.8M in total revenue.
How does the foundation manage its significant revenue volatility, such as the drop from $29.9 million in 2021 to $0.5 million in 2023?
The foundation's substantial asset base, which grew from $10,654 in 2020 to $33,758,016 in 2021 and remained high at $29,490,815 in 2023, likely provides a buffer against revenue fluctuations, allowing it to maintain consistent expense levels (e.g., $1.5-$1.6 million in 2021-2023) despite varying income.
What is the primary source of the foundation's revenue, given the extreme fluctuations?
While the specific sources are not detailed in the provided summary, the dramatic increase in revenue in 2021 ($29,939,133) suggests a large one-time donation, a significant investment gain, or a substantial bequest, rather than consistent operational income.
How does the foundation ensure its long-term sustainability with such inconsistent annual revenue?
The foundation's strategy appears to rely on building and maintaining a large endowment, as evidenced by its growing assets ($31,408,375 latest assets). This endowment likely generates investment income to support ongoing operations and grantmaking, providing stability despite fluctuating annual contributions.
Filing History
IRS 990 filing history for Carleen And Eugene Grandon Charitable Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Carleen And Eugene Grandon Charitable Foundation's revenue has grown by 884.8%, moving from $50K to $493K. Total assets increased by 381757% over the same period, from $8K to $29.5M. Total functional expenses rose by 3211.7%, from $50K to $1.7M. In its most recent filing year (2023), Carleen And Eugene Grandon Charitable Foundation reported a deficit of $1.2M, with expenses exceeding revenue. The organization holds $1 in liabilities against $29.5M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $29.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $493K | $1.7M | $29.5M | $1 | — | View 990 |
| 2022 | $520K | $1.6M | $26.4M | $1 | — | View 990 |
| 2021 | $29.9M | $1.6M | $33.8M | $1 | — | — |
| 2020 | $34 | $28K | $11K | $1 | — | View 990 |
| 2019 | $100K | $87K | $39K | $1 | — | View 990 |
| 2015 | $170K | $182K | $2K | $1 | — | View 990 |
| 2014 | $150K | $163K | $14K | $1 | — | View 990 |
| 2013 | $177K | $156K | $27K | $1 | — | View 990 |
| 2012 | $28K | $31K | $5K | $1 | — | View 990 |
| 2011 | $50K | $50K | $8K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $493K, expenses of $1.7M, and assets of $29.5M (revenue -5.3% year-over-year).
- 2022: Revenue of $520K, expenses of $1.6M, and assets of $26.4M (revenue -98.3% year-over-year).
- 2021: Revenue of $29.9M, expenses of $1.6M, and assets of $33.8M (revenue +88056173.5% year-over-year).
- 2020: Revenue of $34, expenses of $28K, and assets of $11K (revenue -100.0% year-over-year).
- 2019: Revenue of $100K, expenses of $87K, and assets of $39K (revenue -41.1% year-over-year).
- 2015: Revenue of $170K, expenses of $182K, and assets of $2K (revenue +13.3% year-over-year).
- 2014: Revenue of $150K, expenses of $163K, and assets of $14K (revenue -15.4% year-over-year).
- 2013: Revenue of $177K, expenses of $156K, and assets of $27K (revenue +533.1% year-over-year).
- 2012: Revenue of $28K, expenses of $31K, and assets of $5K (revenue -44.0% year-over-year).
- 2011: Revenue of $50K, expenses of $50K, and assets of $8K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Carleen And Eugene Grandon Charitable Foundation:
Data Sources and Methodology
This transparency report for Carleen And Eugene Grandon Charitable 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.