Carrie E And Lena V Glenn Foundation Inc
Carrie E And Lena V Glenn Foundation consistently spends more than it earns, relying on its substantial asset base.
EIN: 201808211 · Gastonia, NC · NTEE: T20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $236K |
| Total Expenses | $357K |
| Program Spending | 85% |
| Net Assets | $7.0M |
| Transparency Score | 85/100 |
Is Carrie E And Lena V Glenn Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Carrie E And Lena V Glenn Foundation Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Carrie E And Lena V Glenn Foundation Inc
Carrie E And Lena V Glenn Foundation Inc (EIN: 201808211) is a nonprofit organization based in Gastonia, NC, classified under NTEE code T20. The organization reported total revenue of $236K and total assets of $7.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Carrie E And Lena V Glenn Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Carrie E And Lena V Glenn Foundation Inc is a small nonprofit that has been operating for 21 years, with 10 years of IRS 990 filings on record (2012–2024). Revenue has grown at a compound annual rate of -2.3%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $230K |
| Total Expenses | $357K |
| Surplus / Deficit | $-126,228 |
| Total Assets | $7.3M |
| Total Liabilities | $262K |
| Net Assets | $7.0M |
| Operating Margin | -54.8% |
| Debt-to-Asset Ratio | 3.6% |
| Months of Reserves | 245.7 months |
Financial Health Grade: B
In 2024, Carrie E And Lena V Glenn Foundation Inc reported a deficit of $126K with expenses exceeding revenue, holds 245.7 months of operating reserves (strong position), has a debt-to-asset ratio of 3.6% (very low leverage).
Financial Trends
Over 10 years of filings (2012–2024), Carrie E And Lena V Glenn Foundation Inc's revenue has declined at a compound annual growth rate (CAGR) of -2.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | -6.4% | -8.3% | +8.0% |
| 2023 | -51.6% | +4.6% | +1.9% |
| 2022 | -12.7% | -10.6% | -17.3% |
| 2021 | +169.6% | +20.0% | +16.8% |
| 2020 | -36.2% | -9.3% | +2.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2005 |
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 Carrie E And Lena V Glenn Foundation Inc with a Mission Score of 85 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, Carrie E And Lena V Glenn Foundation Inc 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 (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $126K, with expenses exceeding revenue.
- Debt-to-asset ratio: 3.6%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no salaries are paid to its officers. This is highly favorable, suggesting that resources are fully directed towards the foundation's mission rather than executive salaries.
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 Carrie E And Lena V Glenn Foundation Inc's IRS 990 filings:
- Consistent negative net income in recent periods (e.g., 202406: $230,342 revenue vs. $356,570 expenses; 202306: $246,126 revenue vs. $389,018 expenses).
Strengths
The following positive indicators were identified for Carrie E And Lena V Glenn Foundation Inc:
- Substantial asset base ($7,708,507) providing financial stability.
- Consistent 0% officer compensation, indicating efficient use of funds and strong commitment to mission.
- Low liabilities relative to assets (e.g., 202406: $262,250 liabilities vs. $7,301,930 assets).
Frequently Asked Questions about Carrie E And Lena V Glenn Foundation Inc
Is Carrie E And Lena V Glenn Foundation Inc a legitimate charity?
Carrie E And Lena V Glenn Foundation Inc (EIN: 201808211) is a registered tax-exempt nonprofit based in North Carolina. Our AI analysis gives it a Mission Score of 85/100. It has 10 years of IRS 990 filings on record. Total revenue: $236K. 1 red flag identified. 3 strengths noted. Financial health grade: B.
How does Carrie E And Lena V Glenn Foundation Inc spend its money?
Carrie E And Lena V Glenn Foundation Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Carrie E And Lena V Glenn Foundation Inc tax-deductible?
Carrie E And Lena V Glenn Foundation Inc is registered as a tax-exempt nonprofit (EIN: 201808211). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Carrie E And Lena V Glenn Foundation Inc's spending goes to programs?
Carrie E And Lena V Glenn Foundation Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Carrie E And Lena V Glenn Foundation Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Carrie E And Lena V Glenn Foundation Inc is above average for NTEE category T20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Carrie E And Lena V Glenn Foundation Inc located?
Carrie E And Lena V Glenn Foundation Inc is headquartered in Gastonia, North Carolina and files with the IRS under EIN 201808211. It is classified under NTEE code T20.
How many years of IRS 990 filings does Carrie E And Lena V Glenn Foundation Inc have?
Carrie E And Lena V Glenn Foundation Inc 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 $236K in total revenue.
Is Carrie E And Lena V Glenn Foundation Inc. financially sustainable given its recent expense trends?
While the foundation has substantial assets ($7,708,507), recent years (202406, 202306) show expenses exceeding revenue. This trend, if continued, could impact long-term sustainability, though current assets provide a significant buffer.
How does the 0% officer compensation impact the organization's efficiency?
The consistent 0% officer compensation is a strong positive, indicating that administrative costs related to executive salaries are non-existent, allowing more funds to be allocated directly to programs or grants.
What is the primary source of the foundation's revenue?
The provided data only shows total revenue figures, not their breakdown. Given the NTEE code T20 (Grantmaking Foundations), revenue likely comes from investment income on its substantial assets or contributions.
Filing History
IRS 990 filing history for Carrie E And Lena V Glenn Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2012–2024), Carrie E And Lena V Glenn Foundation Inc's revenue has declined by 24.6%, moving from $306K to $230K. Total assets increased by 10.1% over the same period, from $6.6M to $7.3M. Total functional expenses fell by 19.4%, from $442K to $357K. In its most recent filing year (2024), Carrie E And Lena V Glenn Foundation Inc reported a deficit of $126K, with expenses exceeding revenue. The organization holds $262K in liabilities against $7.3M in assets (debt-to-asset ratio: 3.6%), resulting in net assets of $7.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $230K | $357K | $7.3M | $262K | — | — |
| 2023 | $246K | $389K | $6.8M | $218K | — | — |
| 2022 | $508K | $372K | $6.6M | $242K | — | View 990 |
| 2021 | $582K | $416K | $8.0M | $318K | — | View 990 |
| 2020 | $216K | $347K | $6.9M | $244K | — | View 990 |
| 2016 | $339K | $382K | $6.7M | $288K | — | View 990 |
| 2015 | $563K | $416K | $7.2M | $318K | — | View 990 |
| 2014 | $351K | $377K | $7.4M | $270K | — | View 990 |
| 2013 | $505K | $359K | $6.8M | $250K | — | View 990 |
| 2012 | $306K | $442K | $6.6M | $317K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $230K, expenses of $357K, and assets of $7.3M (revenue -6.4% year-over-year).
- 2023: Revenue of $246K, expenses of $389K, and assets of $6.8M (revenue -51.6% year-over-year).
- 2022: Revenue of $508K, expenses of $372K, and assets of $6.6M (revenue -12.7% year-over-year).
- 2021: Revenue of $582K, expenses of $416K, and assets of $8.0M (revenue +169.6% year-over-year).
- 2020: Revenue of $216K, expenses of $347K, and assets of $6.9M (revenue -36.2% year-over-year).
- 2016: Revenue of $339K, expenses of $382K, and assets of $6.7M (revenue -39.8% year-over-year).
- 2015: Revenue of $563K, expenses of $416K, and assets of $7.2M (revenue +60.2% year-over-year).
- 2014: Revenue of $351K, expenses of $377K, and assets of $7.4M (revenue -30.4% year-over-year).
- 2013: Revenue of $505K, expenses of $359K, and assets of $6.8M (revenue +65.2% year-over-year).
- 2012: Revenue of $306K, expenses of $442K, and assets of $6.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Carrie E And Lena V Glenn Foundation Inc:
Data Sources and Methodology
This transparency report for Carrie E And Lena V Glenn 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.