Cassiopeia Foundation Inc
Cassiopeia Foundation Inc. faces significant asset decline and persistent operating deficits over the last decade.
EIN: 136034219 · Charlottesvle, VA · NTEE: T20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.6M |
| Total Expenses | $2.6M |
| Program Spending | 75% |
| Net Assets | $48.2M |
| Transparency Score | 45/100 |
Is Cassiopeia Foundation Inc Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Cassiopeia Foundation Inc directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Cassiopeia Foundation Inc
Cassiopeia Foundation Inc (EIN: 136034219) is a nonprofit organization based in Charlottesvle, VA, classified under NTEE code T20. The organization reported total revenue of $2.6M and total assets of $48.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Cassiopeia Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Cassiopeia Foundation Inc is a mid-size nonprofit that has been operating for 20 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -16.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.4M |
| Total Expenses | $2.6M |
| Surplus / Deficit | $-181,065 |
| Total Assets | $48.2M |
| Total Liabilities | $1 |
| Net Assets | $48.2M |
| Operating Margin | -7.4% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 220.9 months |
Financial Health Grade: B
In 2023, Cassiopeia Foundation Inc reported a deficit of $181K with expenses exceeding revenue, holds 220.9 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), Cassiopeia Foundation Inc's revenue has declined at a compound annual growth rate (CAGR) of -16.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +8.2% | -16.3% | -1.3% |
| 2021 | -255.1% | -68.1% | -12.4% |
| 2020 | +9.7% | +133.0% | -14.6% |
| 2019 | -41.7% | -75.1% | -39.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2006 |
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 Cassiopeia Foundation Inc with a Mission Score of 45 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Cassiopeia Foundation Inc allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% 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 $181K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no salaries or benefits are paid to its officers. This is a strong positive for cost efficiency and suggests a volunteer-led or very lean executive structure.
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 Cassiopeia Foundation Inc's IRS 990 filings:
- Significant and consistent decline in total assets from $161M in 2011 to $48M in 2023.
- Persistent operating deficits, with expenses frequently exceeding revenue (e.g., $2,620,824 expenses vs. $2,439,759 revenue in 2023).
- Negative revenue reported in 2021 ($-3,074,297), which is highly unusual and requires explanation.
- High expense figures relative to revenue in several years, such as $10,541,493 expenses against $1,982,141 revenue in 2020.
Strengths
The following positive indicators were identified for Cassiopeia Foundation Inc:
- Consistent reporting of 0% officer compensation, indicating strong control over executive costs.
- Long filing history (10 filings), suggesting a commitment to transparency in reporting, despite financial challenges.
Frequently Asked Questions about Cassiopeia Foundation Inc
Is Cassiopeia Foundation Inc a legitimate charity?
Cassiopeia Foundation Inc (EIN: 136034219) is a registered tax-exempt nonprofit based in Virginia. Our AI analysis gives it a Mission Score of 45/100. It has 10 years of IRS 990 filings on record. Total revenue: $2.6M. 4 red flags identified. 2 strengths noted. Financial health grade: B.
How does Cassiopeia Foundation Inc spend its money?
Cassiopeia Foundation Inc directs 75% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Cassiopeia Foundation Inc tax-deductible?
Cassiopeia Foundation Inc is registered as a tax-exempt nonprofit (EIN: 136034219). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Cassiopeia Foundation Inc's spending goes to programs?
Cassiopeia Foundation Inc directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Cassiopeia Foundation Inc compare to similar nonprofits?
With a transparency score of 45/100 (Fair), Cassiopeia Foundation Inc is near average for NTEE category T20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Cassiopeia Foundation Inc located?
Cassiopeia Foundation Inc is headquartered in Charlottesvle, Virginia and files with the IRS under EIN 136034219. It is classified under NTEE code T20.
How many years of IRS 990 filings does Cassiopeia Foundation Inc have?
Cassiopeia 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 $2.6M in total revenue.
Why have the organization's assets decreased so dramatically from $161 million in 2011 to $48 million currently?
The provided data shows a consistent decline in assets over the past decade, from $161,227,396 in 2011 to $48,805,149 in 2023. This trend is likely due to expenses frequently exceeding revenues, forcing the organization to draw down its principal or reserves.
How does the organization plan to address its recurring operating deficits?
The organization has consistently reported expenses exceeding revenues in most recent years (e.g., 2023, 2022, 2021, 2020). Without a clear strategy to increase revenue or decrease expenses, these deficits are unsustainable in the long term.
What caused the negative revenue reported in 2021 ($-3,074,297)?
A negative revenue figure can indicate significant investment losses, returns of grants, or other unusual financial events. This specific anomaly in 2021 warrants further investigation into the detailed financial statements.
What is the organization's strategy for long-term financial sustainability given the current trends?
With declining assets and persistent operating deficits, the long-term financial sustainability of the Cassiopeia Foundation Inc. is a significant concern. A clear strategy for revenue generation and expense management is critical.
Filing History
IRS 990 filing history for Cassiopeia Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Cassiopeia Foundation Inc's revenue has declined by 88.2%, moving from $20.6M to $2.4M. Total assets decreased by 70.1% over the same period, from $161.2M to $48.2M. Total functional expenses fell by 83.9%, from $16.2M to $2.6M. In its most recent filing year (2023), Cassiopeia Foundation Inc reported a deficit of $181K, with expenses exceeding revenue. The organization holds $1 in liabilities against $48.2M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $48.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.4M | $2.6M | $48.2M | $1 | — | View 990 |
| 2022 | $2.3M | $3.1M | $48.9M | $1 | — | View 990 |
| 2021 | $-3,074,297 | $3.4M | $51.4M | $1.2M | — | View 990 |
| 2020 | $2.0M | $10.5M | $58.6M | $1.3M | — | View 990 |
| 2019 | $1.8M | $4.5M | $68.6M | $2.0M | — | View 990 |
| 2015 | $3.1M | $18.2M | $113.9M | $4.9M | — | View 990 |
| 2014 | $3.6M | $14.5M | $130.7M | $6.8M | — | View 990 |
| 2013 | $6.9M | $16.1M | $143.9M | $8.6M | — | View 990 |
| 2012 | $28.2M | $21.7M | $158.5M | $12.0M | — | View 990 |
| 2011 | $20.6M | $16.2M | $161.2M | $6.0M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.4M, expenses of $2.6M, and assets of $48.2M (revenue +8.2% year-over-year).
- 2022: Revenue of $2.3M, expenses of $3.1M, and assets of $48.9M.
- 2021: Revenue of $-3,074,297, expenses of $3.4M, and assets of $51.4M (revenue -255.1% year-over-year).
- 2020: Revenue of $2.0M, expenses of $10.5M, and assets of $58.6M (revenue +9.7% year-over-year).
- 2019: Revenue of $1.8M, expenses of $4.5M, and assets of $68.6M (revenue -41.7% year-over-year).
- 2015: Revenue of $3.1M, expenses of $18.2M, and assets of $113.9M (revenue -12.8% year-over-year).
- 2014: Revenue of $3.6M, expenses of $14.5M, and assets of $130.7M (revenue -48.4% year-over-year).
- 2013: Revenue of $6.9M, expenses of $16.1M, and assets of $143.9M (revenue -75.5% year-over-year).
- 2012: Revenue of $28.2M, expenses of $21.7M, and assets of $158.5M (revenue +36.8% year-over-year).
- 2011: Revenue of $20.6M, expenses of $16.2M, and assets of $161.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Cassiopeia Foundation Inc:
Data Sources and Methodology
This transparency report for Cassiopeia 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.