Cg42 Foundation
EIN: 856810971 · Isle Of Palms, SC
| Metric | Value |
|---|---|
| Total Revenue | $7K |
| Total Expenses | $44K |
| Net Assets | $174K |
Is Cg42 Foundation Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Cg42 Foundation
Cg42 Foundation (EIN: 856810971) is a nonprofit organization based in Isle Of Palms, SC. The organization reported total revenue of $7K and total assets of $94K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Cg42 Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Cg42 Foundation is a micro nonprofit that has been operating for 5 years, with 3 years of IRS 990 filings on record (2021–2023). Revenue has grown at a compound annual rate of -66.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $10K |
| Total Expenses | $44K |
| Surplus / Deficit | $-33,320 |
| Total Assets | $174K |
| Total Liabilities | $1 |
| Net Assets | $174K |
| Operating Margin | -320.2% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 47.8 months |
Financial Health Grade: B
In 2023, Cg42 Foundation reported a deficit of $33K with expenses exceeding revenue, holds 47.8 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 3 years of filings (2021–2023), Cg42 Foundation's revenue has declined at a compound annual growth rate (CAGR) of -66.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -88.7% | +0.6% | -16.1% |
| 2022 | +2.1% | +106.9% | +30.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2021 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Cg42 Foundation has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Cg42 Foundation with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $33K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Frequently Asked Questions about Cg42 Foundation
Is Cg42 Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Cg42 Foundation (EIN: 856810971) insufficient data. 0 red flags identified, 0 strengths noted.
How does Cg42 Foundation spend its money?
Detailed spending breakdown data is not yet available for Cg42 Foundation. Check back for updated IRS 990 analysis.
Are donations to Cg42 Foundation tax-deductible?
Cg42 Foundation is registered as a tax-exempt nonprofit (EIN: 856810971). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Cg42 Foundation located?
Cg42 Foundation is headquartered in Isle Of Palms, South Carolina and files with the IRS under EIN 856810971.
How many years of IRS 990 filings does Cg42 Foundation have?
Cg42 Foundation has 3 years of IRS 990 filings on record at NonprofitSpending. Additional filing years may become available as the IRS releases new data. The most recent filing shows $7K in total revenue.
Filing History
IRS 990 filing history for Cg42 Foundation showing financial trends over 3 years of public records:
Over 3 years of IRS 990 filings (2021–2023), Cg42 Foundation's revenue has declined by 88.4%, moving from $90K to $10K. Total assets increased by 9.5% over the same period, from $159K to $174K. Total functional expenses rose by 108.2%, from $21K to $44K. In its most recent filing year (2023), Cg42 Foundation reported a deficit of $33K, with expenses exceeding revenue. The organization holds $1 in liabilities against $174K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $174K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $10K | $44K | $174K | $1 | — | — |
| 2022 | $92K | $43K | $208K | $1 | — | — |
| 2021 | $90K | $21K | $159K | $1 | — | — |
Year-by-Year Financial Summary
- 2023: Revenue of $10K, expenses of $44K, and assets of $174K (revenue -88.7% year-over-year).
- 2022: Revenue of $92K, expenses of $43K, and assets of $208K (revenue +2.1% year-over-year).
- 2021: Revenue of $90K, expenses of $21K, and assets of $159K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Cg42 Foundation:
Data Sources and Methodology
This transparency report for Cg42 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.