Carr Family Foundation Inc
Carr Family Foundation: Consistent Low Revenue, High Expenses Raise Questions
EIN: 222769314 · Harpswell, ME · Updated: 2026-04-04
Is Carr Family Foundation Inc Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Carr Family Foundation Inc
Carr Family Foundation Inc (EIN: 222769314) is a nonprofit organization based in Harpswell, ME. The organization reported total revenue of $405 and total assets of $40K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Carr Family Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Carr Family Foundation Inc 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, Carr Family Foundation Inc allocates its expenses as follows: admin: 100%, programs: 0%, fundraising: 0%.
Executive Compensation Analysis
Executive compensation is consistently reported as $0, which is unusual for a foundation with ongoing expenses, suggesting either volunteer leadership or compensation hidden within 'other expenses'.
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 Carr Family Foundation Inc's IRS 990 filings:
- Revenue consistently low (e.g., $405 in 2023, $138 in 2022) compared to expenses (e.g., $4245 in 2023, $3346 in 2022), indicating a reliance on existing assets or undisclosed funding.
- Spending breakdown shows 100% administrative expenses and 0% program expenses, raising concerns about direct charitable impact.
- Significant asset decline from $64,365 in 2020 to $39,779 in 2023 without corresponding program spending.
- Lack of detailed expense breakdown beyond 'other expenses' makes it difficult to assess financial efficiency and purpose.
- The foundation's 'not-for-profit type' is unknown, which limits understanding of its specific mission and operational context.
Strengths
The following positive indicators were identified for Carr Family Foundation Inc:
- Consistent reporting of $0 for executive compensation, if accurate, indicates a volunteer-led organization.
Frequently Asked Questions about Carr Family Foundation Inc
Is Carr Family Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Carr Family Foundation Inc (EIN: 222769314) significant concerns. Mission Score: 25/100. 5 red flags identified, 1 strength noted.
How does Carr Family Foundation Inc spend its money?
Detailed spending breakdown data is not yet available for Carr Family Foundation Inc. Check back for updated IRS 990 analysis.
Are donations to Carr Family Foundation Inc tax-deductible?
Carr Family Foundation Inc is registered as a tax-exempt nonprofit (EIN: 222769314). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What does Carr Family Foundation Inc do?
Carr Family Foundation Inc is a nonprofit organization in the Unknown sector, located in Harpswell, Maine. It is classified under NTEE code Unknown.
How much revenue does Carr Family Foundation Inc have?
Carr Family Foundation Inc reported total revenue of $405. Based on 10 IRS 990 filings on record.
What are Carr Family Foundation Inc's total assets?
Carr Family Foundation Inc holds total assets of $39,779 as reported in IRS 990 filings.
Where is Carr Family Foundation Inc located?
Carr Family Foundation Inc is based in Harpswell, Maine.
What is Carr Family Foundation Inc's EIN?
Carr Family Foundation Inc's Employer Identification Number (EIN) is 222769314. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Carr Family Foundation Inc?
Carr Family Foundation Inc is classified under NTEE code Unknown (Unknown).
Is Carr Family Foundation Inc a registered 501(c)(3)?
Carr Family Foundation Inc appears in IRS records (EIN: 222769314). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Carr Family Foundation Inc file IRS Form 990?
Yes, Carr Family Foundation Inc has 10 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Carr Family Foundation Inc's revenue in 2023?
In the 202312 filing period, Carr Family Foundation Inc reported total revenue of $535, total expenses of $4,245, and net assets of $48,713.
Is Carr Family Foundation Inc's revenue growing or declining?
Carr Family Foundation Inc's revenue is growing. Revenue went from $138 (202212) to $535 (202312), a +287.7% change. Based on 10 filings on record.
What is Carr Family Foundation Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Carr Family Foundation Inc covers tax period 202312. It shows revenue of $535, expenses of $4,245, total assets of $48,713, and liabilities of $1.
Is Carr Family Foundation Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Carr Family Foundation Inc has notable concerns. Mission Score: 25/100 (Poor). 5 red flags identified. 1 strength noted.
What are the red flags for Carr Family Foundation Inc?
The following concerns were identified: Revenue consistently low (e.g., $405 in 2023, $138 in 2022) compared to expenses (e.g., $4245 in 2023, $3346 in 2022), indicating a reliance on existing assets or undisclosed funding.. Spending breakdown shows 100% administrative expenses and 0% program expenses, raising concerns about direct charitable impact.. Significant asset decline from $64,365 in 2020 to $39,779 in 2023 without corresponding program spending.. Lack of detailed expense breakdown beyond 'other expenses' makes it difficult to assess financial efficiency and purpose.. The foundation's 'not-for-profit type' is unknown, which limits understanding of its specific mission and operational context.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Carr Family Foundation Inc's strengths?
Positive indicators for Carr Family Foundation Inc include: Consistent reporting of $0 for executive compensation, if accurate, indicates a volunteer-led organization.. These findings are derived from AI analysis of the organization's financial filings.
How does Carr Family Foundation Inc compensate executives?
Executive compensation is consistently reported as $0, which is unusual for a foundation with ongoing expenses, suggesting either volunteer leadership or compensation hidden within 'other expenses'. 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 for program expenses and 100% for administrative expenses, what specific activities or services does the Carr Family Foundation Inc. undertake to fulfill its stated mission?
Based on the provided data, the foundation reports no program expenses, indicating that its activities are either entirely administrative or that program-related costs are categorized under 'other expenses' without explicit disclosure. This makes it unclear how the foundation directly achieves its charitable purpose.
With revenue consistently lower than expenses and a declining asset base, what is the long-term financial sustainability strategy for the Carr Family Foundation Inc.?
The foundation's financial data shows a pattern of expenses exceeding revenue, leading to a reduction in assets. Without additional revenue streams or a significant change in spending, the current financial trajectory suggests potential long-term sustainability challenges, relying heavily on its existing asset base.
Filing History
IRS 990 filing history for Carr Family Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Carr Family Foundation Inc's revenue has grown by 53400%, moving from $1 to $535. Total assets increased by 243% over the same period, from $14K to $49K. In its most recent filing year (2023), Carr Family Foundation Inc reported a deficit of $4K, with expenses exceeding revenue. The organization holds $1 in liabilities against $49K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $49K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $535 | $4K | $49K | $1 | — | — |
| 2022 | $138 | $3K | $52K | $1 | — | — |
| 2021 | $423 | $9K | $56K | $1 | — | — |
| 2020 | $57K | $1K | $64K | $1 | — | View 990 |
| 2019 | $1 | $0 | $9K | $1 | — | — |
| 2015 | $1 | $1K | $11K | $1 | — | View 990 |
| 2014 | $1 | $1K | $12K | $0 | — | View 990 |
| 2013 | $2 | $1K | $13K | $0 | — | View 990 |
| 2012 | $1 | $50 | $14K | $0 | — | View 990 |
| 2011 | $1 | $0 | $14K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $535, expenses of $4K, and assets of $49K (revenue +287.7% year-over-year).
- 2022: Revenue of $138, expenses of $3K, and assets of $52K (revenue -67.4% year-over-year).
- 2021: Revenue of $423, expenses of $9K, and assets of $56K (revenue -99.3% year-over-year).
- 2020: Revenue of $57K, expenses of $1K, and assets of $64K (revenue +5692100.0% year-over-year).
- 2019: Revenue of $1, expenses of $0, and assets of $9K (revenue +0.0% year-over-year).
- 2015: Revenue of $1, expenses of $1K, and assets of $11K (revenue +0.0% year-over-year).
- 2014: Revenue of $1, expenses of $1K, and assets of $12K (revenue -50.0% year-over-year).
- 2013: Revenue of $2, expenses of $1K, and assets of $13K (revenue +100.0% year-over-year).
- 2012: Revenue of $1, expenses of $50, and assets of $14K (revenue +0.0% year-over-year).
- 2011: Revenue of $1, expenses of $0, and assets of $14K.
Data Sources and Methodology
This transparency report for Carr Family Foundation Inc 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.