Carmichael Foundation
Carmichael Foundation consistently grows assets with low expenses and no reported officer compensation.
EIN: 206744052 · Tulsa, OK · NTEE: T22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $400K |
| Total Expenses | $138K |
| Program Spending | 85% |
| Net Assets | $2.8M |
| Transparency Score | 88/100 |
Is Carmichael Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Carmichael Foundation directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Carmichael Foundation
Carmichael Foundation (EIN: 206744052) is a nonprofit organization based in Tulsa, OK, classified under NTEE code T22. The organization reported total revenue of $400K and total assets of $2.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Carmichael Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Carmichael Foundation is a small nonprofit that has been operating for 19 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 2.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $319K |
| Total Expenses | $138K |
| Surplus / Deficit | +$181K |
| Total Assets | $2.8M |
| Total Liabilities | $1 |
| Net Assets | $2.8M |
| Operating Margin | 56.8% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 241.6 months |
Financial Health Grade: A
In 2023, Carmichael Foundation reported a surplus of $181K with revenue exceeding expenses, holds 241.6 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), Carmichael Foundation's revenue has grown at a compound annual growth rate (CAGR) of 2.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -36.8% | +24.9% | +5.7% |
| 2022 | +64.7% | -1.5% | +9.9% |
| 2021 | +15.4% | -13.7% | +8.6% |
| 2020 | -18.6% | +13.0% | +6.5% |
| 2019 | +35.9% | +64.0% | +46.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2007 |
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 Carmichael Foundation with a Mission Score of 88 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: 85%
- fundraising: 5%
According to IRS 990 filings, Carmichael Foundation allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% 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 $181K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The Carmichael Foundation consistently reports 0% officer compensation across all available filings, indicating that its leadership is either entirely volunteer-based or compensated through other means not reported as officer compensation, which is highly unusual for an organization of its size and asset base.
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 Carmichael Foundation's IRS 990 filings:
- Lack of detailed expense breakdown (program vs. admin vs. fundraising) in provided data makes precise efficiency assessment difficult.
- No reported officer compensation, which, while efficient, can sometimes indicate reliance on external entities or unreported benefits.
Strengths
The following positive indicators were identified for Carmichael Foundation:
- Consistent asset growth, indicating strong financial stewardship (from $494,241 in 2011 to $2,769,568 in 2023).
- Very low expenses relative to revenue, suggesting high operational efficiency (e.g., 2023 expenses were 43% of revenue, 2022 expenses were 22% of revenue).
- No reported officer compensation, indicating a volunteer-driven or highly cost-conscious leadership.
- Minimal liabilities across all reporting periods, demonstrating sound financial health and low debt.
- Long history of IRS 990 filings, showing commitment to transparency.
Frequently Asked Questions about Carmichael Foundation
Is Carmichael Foundation a legitimate charity?
Carmichael Foundation (EIN: 206744052) is a registered tax-exempt nonprofit based in Oklahoma. Our AI analysis gives it a Mission Score of 88/100. It has 10 years of IRS 990 filings on record. Total revenue: $400K. 2 red flags identified. 5 strengths noted. Financial health grade: A.
How does Carmichael Foundation spend its money?
Carmichael Foundation directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Carmichael Foundation tax-deductible?
Carmichael Foundation is registered as a tax-exempt nonprofit (EIN: 206744052). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Carmichael Foundation's spending goes to programs?
Carmichael Foundation directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Carmichael Foundation compare to similar nonprofits?
With a transparency score of 88/100 (Excellent), Carmichael 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 Carmichael Foundation located?
Carmichael Foundation is headquartered in Tulsa, Oklahoma and files with the IRS under EIN 206744052. It is classified under NTEE code T22.
How many years of IRS 990 filings does Carmichael Foundation have?
Carmichael 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 $400K in total revenue.
What are the specific programs or grants the Carmichael Foundation supports?
The provided data does not detail the specific programs or grants made by the Carmichael Foundation. The NTEE code T22 (Foundations, Public Charities, Grantmaking) suggests it is a grantmaking organization, but the beneficiaries are not specified.
Why are expenses consistently so low relative to revenue?
The consistently low expenses relative to revenue (e.g., $137,581 expenses vs. $318,689 revenue in 2023) suggest that the foundation is primarily focused on accumulating assets or making grants that are not fully reflected as 'expenses' in the provided summary, or it operates with extremely low overhead.
How does the Carmichael Foundation manage to operate without reported officer compensation?
The absence of reported officer compensation across all filings implies that the foundation's leadership and key management personnel are either volunteers or are compensated through mechanisms not categorized as 'officer compensation' on the 990, which is a significant indicator of lean operations.
What is the long-term strategy for the significant asset growth?
With assets growing from $494,241 in 2011 to $2,769,568 in 2023, the foundation appears to be building a substantial endowment. The strategy for deploying these growing assets for its mission is not detailed in the provided financial summaries.
Filing History
IRS 990 filing history for Carmichael Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Carmichael Foundation's revenue has grown by 34%, moving from $238K to $319K. Total assets increased by 460.4% over the same period, from $494K to $2.8M. Total functional expenses rose by 171.5%, from $51K to $138K. In its most recent filing year (2023), Carmichael Foundation reported a surplus of $181K, with revenue exceeding expenses. The organization holds $1 in liabilities against $2.8M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $2.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $319K | $138K | $2.8M | $1 | — | — |
| 2022 | $504K | $110K | $2.6M | $1 | — | View 990 |
| 2021 | $306K | $112K | $2.4M | $8K | — | View 990 |
| 2020 | $265K | $130K | $2.2M | $14K | — | View 990 |
| 2019 | $326K | $115K | $2.1M | $0 | — | View 990 |
| 2015 | $240K | $70K | $1.4M | $0 | — | View 990 |
| 2014 | $366K | $55K | $1.2M | $0 | — | View 990 |
| 2013 | $256K | $80K | $928K | $0 | — | View 990 |
| 2012 | $297K | $39K | $752K | $0 | — | View 990 |
| 2011 | $238K | $51K | $494K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $319K, expenses of $138K, and assets of $2.8M (revenue -36.8% year-over-year).
- 2022: Revenue of $504K, expenses of $110K, and assets of $2.6M (revenue +64.7% year-over-year).
- 2021: Revenue of $306K, expenses of $112K, and assets of $2.4M (revenue +15.4% year-over-year).
- 2020: Revenue of $265K, expenses of $130K, and assets of $2.2M (revenue -18.6% year-over-year).
- 2019: Revenue of $326K, expenses of $115K, and assets of $2.1M (revenue +35.9% year-over-year).
- 2015: Revenue of $240K, expenses of $70K, and assets of $1.4M (revenue -34.5% year-over-year).
- 2014: Revenue of $366K, expenses of $55K, and assets of $1.2M (revenue +42.9% year-over-year).
- 2013: Revenue of $256K, expenses of $80K, and assets of $928K (revenue -13.6% year-over-year).
- 2012: Revenue of $297K, expenses of $39K, and assets of $752K (revenue +24.8% year-over-year).
- 2011: Revenue of $238K, expenses of $51K, and assets of $494K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Carmichael Foundation:
Data Sources and Methodology
This transparency report for Carmichael 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.