Colburn Keenan Foundation Inc
Colburn Keenan Foundation maintains substantial assets despite consistent operational deficits in recent years.
EIN: 204634920 · Enfield, CT · NTEE: T20 · Updated: 2026-03-28
Is Colburn Keenan Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Colburn Keenan Foundation Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Colburn Keenan Foundation Inc
Colburn Keenan Foundation Inc (EIN: 204634920) is a nonprofit organization based in Enfield, CT, classified under NTEE code T20. The organization reported total revenue of $2.5M and total assets of $10.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Colburn Keenan Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Colburn Keenan Foundation Inc with a Mission Score of 75 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Colburn Keenan 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.
Executive Compensation Analysis
The Colburn Keenan Foundation consistently reports 0% officer compensation across all available filings, indicating that its leadership is either entirely volunteer-based or compensated through other means not classified as officer compensation, which is a strong positive for minimizing administrative overhead.
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 Colburn Keenan Foundation Inc's IRS 990 filings:
- Consistent operational deficits in recent years (e.g., 2023, 2022, 2020, 2019) where expenses exceed revenue.
- Lack of detailed breakdown for program, administrative, and fundraising expenses in the provided summary, making efficiency assessment difficult.
Strengths
The following positive indicators were identified for Colburn Keenan Foundation Inc:
- Substantial and stable asset base, consistently over $9 million, providing financial security.
- 0% officer compensation reported across all filings, indicating very low executive overhead.
- Consistent IRS 990 filing history, demonstrating transparency in reporting.
- Significant revenue generation in some years (e.g., $3.61M in 2012, $1.8M in 2011) indicating capacity for large contributions.
Frequently Asked Questions about Colburn Keenan Foundation Inc
Is Colburn Keenan Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Colburn Keenan Foundation Inc (EIN: 204634920) some concerns. Mission Score: 75/100. 2 red flags identified, 4 strengths noted.
How does Colburn Keenan Foundation Inc spend its money?
Colburn Keenan Foundation Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Colburn Keenan Foundation Inc tax-deductible?
Colburn Keenan Foundation Inc is registered as a tax-exempt nonprofit (EIN: 204634920). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does the Colburn Keenan Foundation cover its operational deficits, such as the $311,552 deficit in 2023?
Given its substantial asset base (over $10 million in 2023), the foundation likely covers operational deficits through investment returns, drawing from its endowment, or utilizing prior year surpluses. Further analysis of investment income and endowment policies would clarify this.
What is the specific breakdown of program service expenses for a grantmaking foundation like Colburn Keenan?
As a grantmaking foundation, program service expenses would primarily consist of the grants and contributions made to other organizations or individuals. Without a detailed 990, the exact allocation of these funds to specific causes or recipients is not available in this summary.
What is the long-term strategy for managing the recurring revenue-expense imbalance?
The foundation's consistent asset base suggests a long-term strategy that may involve planned spending from its endowment or reliance on investment growth. However, sustained deficits could eventually erode assets if not balanced by significant future revenue or investment gains.
Filing History
IRS 990 filing history for Colburn Keenan Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Colburn Keenan Foundation Inc's revenue has declined by 80.2%, moving from $1.8M to $357K. Total assets increased by 39.1% over the same period, from $7.3M to $10.1M. Total functional expenses rose by 104.2%, from $328K to $669K. In its most recent filing year (2023), Colburn Keenan Foundation Inc reported a deficit of $312K, with expenses exceeding revenue. The organization holds $68K in liabilities against $10.1M in assets (debt-to-asset ratio: 0.7%), resulting in net assets of $10.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $357K | $669K | $10.1M | $68K | — | — |
| 2022 | $597K | $656K | $9.3M | $98K | — | View 990 |
| 2021 | $834K | $679K | $11.4M | $79K | — | View 990 |
| 2020 | $509K | $644K | $9.4M | $109K | — | View 990 |
| 2019 | $424K | $575K | $10.6M | $49K | — | — |
| 2015 | $817K | $529K | $10.3M | $99K | — | View 990 |
| 2014 | $451K | $721K | $11.0M | $124K | — | View 990 |
| 2013 | $497K | $614K | $11.2M | $70K | — | View 990 |
| 2012 | $3.6M | $401K | $10.5M | $0 | — | View 990 |
| 2011 | $1.8M | $328K | $7.3M | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $357K, expenses of $669K, and assets of $10.1M (revenue -40.2% year-over-year).
- 2022: Revenue of $597K, expenses of $656K, and assets of $9.3M (revenue -28.4% year-over-year).
- 2021: Revenue of $834K, expenses of $679K, and assets of $11.4M (revenue +63.9% year-over-year).
- 2020: Revenue of $509K, expenses of $644K, and assets of $9.4M (revenue +20.0% year-over-year).
- 2019: Revenue of $424K, expenses of $575K, and assets of $10.6M (revenue -48.1% year-over-year).
- 2015: Revenue of $817K, expenses of $529K, and assets of $10.3M (revenue +81.0% year-over-year).
- 2014: Revenue of $451K, expenses of $721K, and assets of $11.0M (revenue -9.1% year-over-year).
- 2013: Revenue of $497K, expenses of $614K, and assets of $11.2M (revenue -86.2% year-over-year).
- 2012: Revenue of $3.6M, expenses of $401K, and assets of $10.5M (revenue +100.5% year-over-year).
- 2011: Revenue of $1.8M, expenses of $328K, and assets of $7.3M.
Data Sources and Methodology
This transparency report for Colburn Keenan 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.