Classmate Fund Inc
Classmate Fund Inc. faces significant operational deficits despite substantial assets and zero officer compensation.
EIN: 133211654 · Virginia Bch, VA · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $3.0M |
| Total Expenses | $730K |
| Program Spending | 80% |
| Net Assets | $2.0M |
| Transparency Score | 60/100 |
Is Classmate Fund Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Classmate Fund Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Classmate Fund Inc
Classmate Fund Inc (EIN: 133211654) is a nonprofit organization based in Virginia Bch, VA. The organization reported total revenue of $3.0M and total assets of $2.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Classmate Fund Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Classmate Fund Inc is a mid-size nonprofit that has been operating for 38 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -4.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $108K |
| Total Expenses | $730K |
| Surplus / Deficit | $-622,146 |
| Total Assets | $2.0M |
| Net Assets | $2.0M |
| Operating Margin | -576.9% |
| Months of Reserves | 32.5 months |
Financial Health Grade: B
In 2023, Classmate Fund Inc reported a deficit of $622K with expenses exceeding revenue, holds 32.5 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2011–2023), Classmate Fund Inc's revenue has declined at a compound annual growth rate (CAGR) of -4.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | -140.3% | +10.9% | -8.4% |
| 2021 | -71.6% | +85.4% | -1.4% |
| 2020 | +34.7% | -41.3% | +10.3% |
| 2019 | +102.9% | +1.0% | +18.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1988 |
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 Classmate Fund Inc with a Mission Score of 60 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Classmate Fund Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% 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 $622K, with expenses exceeding revenue.
Executive Compensation Analysis
Executive compensation has consistently been reported as 0% across all available filing periods, indicating that the organization's leadership is likely volunteer-based, which is a positive sign for resource allocation.
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 Classmate Fund Inc's IRS 990 filings:
- Significant operational deficit in 2023 ($107,839 revenue vs. $729,985 expenses).
- Negative revenue reported in 2022 ($-48,345).
- Consistent decline in assets over the last three periods ($2,703,606 in 2021 to $1,978,584 in 2023).
- Lack of detailed expense breakdown in provided data, making efficiency assessment difficult.
Strengths
The following positive indicators were identified for Classmate Fund Inc:
- Zero officer compensation across all reported periods, indicating volunteer leadership.
- Zero liabilities reported across all periods, demonstrating strong financial solvency.
- Maintains a substantial asset base ($1,978,584 in 2023) despite recent operational losses.
Frequently Asked Questions about Classmate Fund Inc
Is Classmate Fund Inc a legitimate charity?
Classmate Fund Inc (EIN: 133211654) is a registered tax-exempt nonprofit based in Virginia. Our AI analysis gives it a Mission Score of 60/100. It has 13 years of IRS 990 filings on record. Total revenue: $3.0M. 4 red flags identified. 3 strengths noted. Financial health grade: B.
How does Classmate Fund Inc spend its money?
Classmate Fund Inc directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Classmate Fund Inc tax-deductible?
Classmate Fund Inc is registered as a tax-exempt nonprofit (EIN: 133211654). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Classmate Fund Inc's spending goes to programs?
Classmate Fund Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Classmate Fund Inc located?
Classmate Fund Inc is headquartered in Virginia Bch, Virginia and files with the IRS under EIN 133211654.
How many years of IRS 990 filings does Classmate Fund Inc have?
Classmate Fund Inc has 13 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 $3.0M in total revenue.
Is Classmate Fund Inc. a good charity?
While Classmate Fund Inc. has a strong asset base and no officer compensation, its recent financial performance, particularly the large operational deficits in 2023 and 2022, raises concerns about its long-term sustainability and program effectiveness. A 'good' charity typically demonstrates consistent operational efficiency and positive net income.
What caused the significant increase in expenses in 2023?
The provided data does not specify the nature of the $729,985 in expenses for 2023. Further investigation into the detailed IRS Form 990 would be required to understand the allocation of these funds, particularly whether they were directed towards programs, administration, or fundraising.
How does the organization sustain itself with negative revenue periods?
The organization appears to be drawing down its assets to cover operational expenses, as evidenced by the decrease in assets from $2,476,838 in 2022 to $1,978,584 in 2023, coinciding with significant operational losses. This is not a sustainable long-term strategy without a substantial increase in revenue.
Filing History
IRS 990 filing history for Classmate Fund Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Classmate Fund Inc's revenue has declined by 39.7%, moving from $179K to $108K. Total assets increased by 1.9% over the same period, from $1.9M to $2.0M. Total functional expenses rose by 750.8%, from $86K to $730K. In its most recent filing year (2023), Classmate Fund Inc reported a deficit of $622K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $108K | $730K | $2.0M | $0 | — | — |
| 2022 | $-48,345 | $182K | $2.5M | $0 | — | View 990 |
| 2021 | $120K | $164K | $2.7M | $0 | — | View 990 |
| 2020 | $423K | $88K | $2.7M | $0 | — | View 990 |
| 2019 | $314K | $151K | $2.5M | $0 | — | View 990 |
| 2018 | $155K | $149K | $2.1M | $0 | — | View 990 |
| 2017 | $160K | $154K | $2.3M | $0 | — | View 990 |
| 2016 | $29K | $71K | $2.1M | $0 | — | View 990 |
| 2015 | $292K | $80K | $2.1M | $0 | — | View 990 |
| 2014 | $147K | $85K | $2.2M | $0 | — | View 990 |
| 2013 | $178K | $97K | $2.2M | $0 | — | View 990 |
| 2012 | $103K | $88K | $2.0M | $0 | — | View 990 |
| 2011 | $179K | $86K | $1.9M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $108K, expenses of $730K, and assets of $2.0M.
- 2022: Revenue of $-48,345, expenses of $182K, and assets of $2.5M (revenue -140.3% year-over-year).
- 2021: Revenue of $120K, expenses of $164K, and assets of $2.7M (revenue -71.6% year-over-year).
- 2020: Revenue of $423K, expenses of $88K, and assets of $2.7M (revenue +34.7% year-over-year).
- 2019: Revenue of $314K, expenses of $151K, and assets of $2.5M (revenue +102.9% year-over-year).
- 2018: Revenue of $155K, expenses of $149K, and assets of $2.1M (revenue -3.2% year-over-year).
- 2017: Revenue of $160K, expenses of $154K, and assets of $2.3M (revenue +447.4% year-over-year).
- 2016: Revenue of $29K, expenses of $71K, and assets of $2.1M (revenue -90.0% year-over-year).
- 2015: Revenue of $292K, expenses of $80K, and assets of $2.1M (revenue +99.4% year-over-year).
- 2014: Revenue of $147K, expenses of $85K, and assets of $2.2M (revenue -17.6% year-over-year).
- 2013: Revenue of $178K, expenses of $97K, and assets of $2.2M (revenue +73.0% year-over-year).
- 2012: Revenue of $103K, expenses of $88K, and assets of $2.0M (revenue -42.4% year-over-year).
- 2011: Revenue of $179K, expenses of $86K, and assets of $1.9M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Classmate Fund Inc:
Data Sources and Methodology
This transparency report for Classmate Fund 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.