Chesterfield Cultural Arts Foundation
Chesterfield Cultural Arts Foundation faces operating deficits and increasing liabilities despite no executive compensation.
EIN: 161671869 · Chester, VA · NTEE: A12 · Updated: 2026-03-28
Is Chesterfield Cultural Arts Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Chesterfield Cultural Arts Foundation directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Chesterfield Cultural Arts Foundation
Chesterfield Cultural Arts Foundation (EIN: 161671869) is a nonprofit organization based in Chester, VA, classified under NTEE code A12. The organization reported total revenue of $696K and total assets of $1.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Chesterfield Cultural Arts Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Chesterfield Cultural Arts Foundation is a small nonprofit that has been operating for 23 years, with 10 years of IRS 990 filings on record (2014–2023). Revenue has grown at a compound annual rate of 0.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $615K |
| Total Expenses | $704K |
| Surplus / Deficit | $-89,552 |
| Total Assets | $1.3M |
| Total Liabilities | $578K |
| Net Assets | $680K |
| Operating Margin | -14.6% |
| Debt-to-Asset Ratio | 46.0% |
| Months of Reserves | 21.4 months |
Financial Health Grade: B
In 2023, Chesterfield Cultural Arts Foundation reported a deficit of $90K with expenses exceeding revenue, holds 21.4 months of operating reserves (strong position), has a debt-to-asset ratio of 46.0% (moderate leverage).
Financial Trends
Over 10 years of filings (2014–2023), Chesterfield Cultural Arts Foundation's revenue has grown at a compound annual growth rate (CAGR) of 0.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +6.9% | -18.5% | +37.5% |
| 2022 | -7.4% | -37.4% | -23.1% |
| 2021 | +1033.4% | +148.4% | -34.6% |
| 2020 | -57.3% | +539.2% | -21.5% |
| 2019 | -64.7% | +681.4% | -2.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2003 |
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 Chesterfield Cultural Arts Foundation with a Mission Score of 65 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Chesterfield Cultural Arts Foundation allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $90K, with expenses exceeding revenue.
- Debt-to-asset ratio: 46.0%.
Executive Compensation Analysis
Executive compensation is consistently reported at 0% across all filings, indicating that no officers received compensation from the organization. This is a strong positive for a nonprofit of its size, demonstrating a commitment to directing funds towards its 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 Chesterfield Cultural Arts Foundation's IRS 990 filings:
- Consistent operating deficits in recent years (e.g., 202306, 202206, 202106)
- Significant increase in liabilities in the latest filing ($578,144 in 202306)
- Fluctuating asset base with a notable decrease from 201812 ($2,384,391) to 202306 ($1,257,774)
Strengths
The following positive indicators were identified for Chesterfield Cultural Arts Foundation:
- Zero officer compensation reported across all filings, indicating strong commitment to mission-focused spending.
- Long filing history (10 filings) demonstrates consistent compliance and operational presence.
- Substantial asset base, despite fluctuations, provides some financial cushion.
Frequently Asked Questions about Chesterfield Cultural Arts Foundation
Is Chesterfield Cultural Arts Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Chesterfield Cultural Arts Foundation (EIN: 161671869) some concerns. Mission Score: 65/100. 3 red flags identified, 3 strengths noted.
How does Chesterfield Cultural Arts Foundation spend its money?
Chesterfield Cultural Arts Foundation directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Chesterfield Cultural Arts Foundation tax-deductible?
Chesterfield Cultural Arts Foundation is registered as a tax-exempt nonprofit (EIN: 161671869). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Why have expenses consistently exceeded revenue in recent years?
The filings show expenses exceeding revenue in 202306 ($704,264 vs $614,712), 202206 ($863,735 vs $574,923), and 202106 ($1,379,759 vs $621,062). This trend suggests the organization may be drawing down reserves or relying on other funding mechanisms to cover operational costs.
What caused the significant increase in liabilities in 202306?
Liabilities jumped from $145,636 in 202206 to $578,144 in 202306. Understanding the nature of these liabilities (e.g., program-related debt, capital expenditures, or deferred revenue) is crucial for assessing financial risk.
How does the organization plan to address its operating deficits?
With consistent operating deficits in recent years, the organization needs a clear strategy to either increase revenue or reduce expenses to achieve financial sustainability.
What is the detailed breakdown of program, administrative, and fundraising expenses?
Without a detailed breakdown of expenses, it's challenging to fully assess the organization's spending efficiency and how much of its budget directly supports its cultural arts programs.
Filing History
IRS 990 filing history for Chesterfield Cultural Arts Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2014–2023), Chesterfield Cultural Arts Foundation's revenue has grown by 7.8%, moving from $570K to $615K. Total assets increased by 118.7% over the same period, from $575K to $1.3M. Total functional expenses rose by 4150.7%, from $17K to $704K. In its most recent filing year (2023), Chesterfield Cultural Arts Foundation reported a deficit of $90K, with expenses exceeding revenue. The organization holds $578K in liabilities against $1.3M in assets (debt-to-asset ratio: 46.0%), resulting in net assets of $680K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $615K | $704K | $1.3M | $578K | — | — |
| 2022 | $575K | $864K | $915K | $146K | — | View 990 |
| 2021 | $621K | $1.4M | $1.2M | $131K | — | — |
| 2020 | $55K | $556K | $1.8M | $3K | — | View 990 |
| 2019 | $128K | $87K | $2.3M | $0 | — | View 990 |
| 2018 | $363K | $11K | $2.4M | $250 | — | View 990 |
| 2017 | $20K | $317K | $2.0M | $196 | — | — |
| 2016 | $1.2M | $26K | $2.3M | $201 | — | View 990 |
| 2015 | $552K | $28K | $1.2M | $489 | — | View 990 |
| 2014 | $570K | $17K | $575K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $615K, expenses of $704K, and assets of $1.3M (revenue +6.9% year-over-year).
- 2022: Revenue of $575K, expenses of $864K, and assets of $915K (revenue -7.4% year-over-year).
- 2021: Revenue of $621K, expenses of $1.4M, and assets of $1.2M (revenue +1033.4% year-over-year).
- 2020: Revenue of $55K, expenses of $556K, and assets of $1.8M (revenue -57.3% year-over-year).
- 2019: Revenue of $128K, expenses of $87K, and assets of $2.3M (revenue -64.7% year-over-year).
- 2018: Revenue of $363K, expenses of $11K, and assets of $2.4M (revenue +1748.8% year-over-year).
- 2017: Revenue of $20K, expenses of $317K, and assets of $2.0M (revenue -98.3% year-over-year).
- 2016: Revenue of $1.2M, expenses of $26K, and assets of $2.3M (revenue +109.6% year-over-year).
- 2015: Revenue of $552K, expenses of $28K, and assets of $1.2M (revenue -3.1% year-over-year).
- 2014: Revenue of $570K, expenses of $17K, and assets of $575K.
Data Sources and Methodology
This transparency report for Chesterfield Cultural Arts 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.