Community Foundation Of Elmira Corning And The Finger Lakes
Community Foundation Of Elmira Corning And The Finger Lakes shows strong asset growth and zero reported officer compensation.
EIN: 161100837 · Horseheads, NY · NTEE: T31 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $10.1M |
| Total Expenses | $3.7M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $83 |
| Net Assets | $73.2M |
| Transparency Score | 95/100 |
Is Community Foundation Of Elmira Corning And The Finger Lakes Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Community Foundation Of Elmira Corning And The Finger Lakes directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Community Foundation Of Elmira Corning And The Finger Lakes
Community Foundation Of Elmira Corning And The Finger Lakes (EIN: 161100837) is a nonprofit organization based in Horseheads, NY, classified under NTEE code T31. The organization reported total revenue of $10.1M and total assets of $83.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Community Foundation Of Elmira Corning And The Finger Lakes's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Community Foundation Of Elmira Corning And The Finger Lakes is a large nonprofit that has been operating for 49 years, with 14 years of IRS 990 filings on record (2011–2024). Revenue has grown at a compound annual rate of 11.1%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $12.6M |
| Total Expenses | $3.7M |
| Surplus / Deficit | +$8.8M |
| Total Assets | $76.0M |
| Total Liabilities | $2.8M |
| Net Assets | $73.2M |
| Operating Margin | 70.3% |
| Debt-to-Asset Ratio | 3.7% |
| Months of Reserves | 243.9 months |
Financial Health Grade: A
In 2024, Community Foundation Of Elmira Corning And The Finger Lakes reported a surplus of $8.8M with revenue exceeding expenses, holds 243.9 months of operating reserves (strong position), has a debt-to-asset ratio of 3.7% (very low leverage).
Financial Trends
Over 14 years of filings (2011–2024), Community Foundation Of Elmira Corning And The Finger Lakes's revenue has grown at a compound annual growth rate (CAGR) of 11.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +224.5% | -4.0% | +10.7% |
| 2023 | -4.9% | +16.1% | +6.8% |
| 2022 | +24.6% | -2.2% | -14.8% |
| 2021 | -26.9% | -6.3% | +26.2% |
| 2020 | -5.3% | +15.3% | +1.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1977 |
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 Community Foundation Of Elmira Corning And The Finger Lakes with a Mission Score of 95 out of 100 (Excellent). 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, Community Foundation Of Elmira Corning And The Finger Lakes 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.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $8.8M, with revenue exceeding expenses.
- Debt-to-asset ratio: 3.7%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, which is exceptional for an organization with assets exceeding $83 million and annual revenues often in the millions. This indicates that the organization's leadership is either volunteer-based or compensated through other means not categorized as officer compensation, significantly enhancing its financial efficiency and donor trust.
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.
Strengths
The following positive indicators were identified for Community Foundation Of Elmira Corning And The Finger Lakes:
- Consistent asset growth, reaching $83,695,539 in the latest filing.
- Zero reported officer compensation across all 14 filings, indicating high efficiency.
- Strong financial health with liabilities consistently low relative to assets.
- Robust revenue generation, with a peak of over $12.5 million in 202406.
- Consistent IRS 990 filing history demonstrating strong transparency and accountability.
Frequently Asked Questions about Community Foundation Of Elmira Corning And The Finger Lakes
Is Community Foundation Of Elmira Corning And The Finger Lakes a legitimate charity?
Community Foundation Of Elmira Corning And The Finger Lakes (EIN: 161100837) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 95/100. It has 14 years of IRS 990 filings on record. Total revenue: $10.1M. No red flags identified. 5 strengths noted. Financial health grade: A.
How does Community Foundation Of Elmira Corning And The Finger Lakes spend its money?
Community Foundation Of Elmira Corning And The Finger Lakes directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Community Foundation Of Elmira Corning And The Finger Lakes tax-deductible?
Community Foundation Of Elmira Corning And The Finger Lakes is registered as a tax-exempt nonprofit (EIN: 161100837). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Community Foundation Of Elmira Corning And The Finger Lakes CEO make?
Community Foundation Of Elmira Corning And The Finger Lakes's highest-compensated officer earns $83 annually. The organization reported $10.1M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Community Foundation Of Elmira Corning And The Finger Lakes's spending goes to programs?
Community Foundation Of Elmira Corning And The Finger Lakes directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Community Foundation Of Elmira Corning And The Finger Lakes compare to similar nonprofits?
With a transparency score of 95/100 (Excellent), Community Foundation Of Elmira Corning And The Finger Lakes is above average for NTEE category T31 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Community Foundation Of Elmira Corning And The Finger Lakes located?
Community Foundation Of Elmira Corning And The Finger Lakes is headquartered in Horseheads, New York and files with the IRS under EIN 161100837. It is classified under NTEE code T31.
How many years of IRS 990 filings does Community Foundation Of Elmira Corning And The Finger Lakes have?
Community Foundation Of Elmira Corning And The Finger Lakes has 14 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 $10.1M in total revenue.
Is Community Foundation Of Elmira Corning And The Finger Lakes a good charity?
Based on the available IRS 990 data, the Community Foundation Of Elmira Corning And The Finger Lakes appears to be a very good charity. It demonstrates strong financial health with growing assets, excellent spending efficiency (0% officer compensation), and consistent transparency.
How has the organization's asset base changed over time?
The organization's assets have shown consistent growth, increasing from $44,673,787 in 201506 to $83,695,539 in the latest filing, indicating strong financial management and endowment growth.
What is the trend in revenue for the Community Foundation?
Revenue has fluctuated, which is typical for community foundations. It saw a significant peak of $12,580,282 in 202406, but also periods like 202306 with $3,876,742, reflecting reliance on contributions and investment performance.
How does the organization manage its liabilities?
Liabilities have remained relatively low and stable compared to assets, ranging from $1,476,681 in 201606 to $2,804,836 in 202406, indicating prudent financial management and a strong balance sheet.
Filing History
IRS 990 filing history for Community Foundation Of Elmira Corning And The Finger Lakes showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2024), Community Foundation Of Elmira Corning And The Finger Lakes's revenue has grown by 294.7%, moving from $3.2M to $12.6M. Total assets increased by 235.2% over the same period, from $22.7M to $76.0M. Total functional expenses rose by 73.2%, from $2.2M to $3.7M. In its most recent filing year (2024), Community Foundation Of Elmira Corning And The Finger Lakes reported a surplus of $8.8M, with revenue exceeding expenses. The organization holds $2.8M in liabilities against $76.0M in assets (debt-to-asset ratio: 3.7%), resulting in net assets of $73.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $12.6M | $3.7M | $76.0M | $2.8M | — | View 990 |
| 2023 | $3.9M | $3.9M | $68.7M | $2.5M | — | View 990 |
| 2022 | $4.1M | $3.4M | $64.3M | $2.5M | — | View 990 |
| 2021 | $3.3M | $3.4M | $75.4M | $2.7M | — | View 990 |
| 2020 | $4.5M | $3.7M | $59.8M | $2.0M | — | View 990 |
| 2019 | $4.7M | $3.2M | $59.1M | $1.9M | — | View 990 |
| 2018 | $7.5M | $2.5M | $56.2M | $1.7M | — | View 990 |
| 2017 | $7.9M | $2.3M | $48.7M | $1.6M | — | View 990 |
| 2016 | $2.4M | $2.3M | $42.4M | $1.5M | — | View 990 |
| 2015 | $3.6M | $2.1M | $44.7M | $1.7M | — | View 990 |
| 2014 | $4.0M | $2.3M | $45.6M | $1.7M | — | View 990 |
| 2013 | $2.3M | $2.0M | $39.8M | $1.6M | — | View 990 |
| 2012 | $2.5M | $2.2M | $36.3M | $1.7M | — | View 990 |
| 2011 | $3.2M | $2.2M | $22.7M | $1.6M | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $12.6M, expenses of $3.7M, and assets of $76.0M (revenue +224.5% year-over-year).
- 2023: Revenue of $3.9M, expenses of $3.9M, and assets of $68.7M (revenue -4.9% year-over-year).
- 2022: Revenue of $4.1M, expenses of $3.4M, and assets of $64.3M (revenue +24.6% year-over-year).
- 2021: Revenue of $3.3M, expenses of $3.4M, and assets of $75.4M (revenue -26.9% year-over-year).
- 2020: Revenue of $4.5M, expenses of $3.7M, and assets of $59.8M (revenue -5.3% year-over-year).
- 2019: Revenue of $4.7M, expenses of $3.2M, and assets of $59.1M (revenue -37.0% year-over-year).
- 2018: Revenue of $7.5M, expenses of $2.5M, and assets of $56.2M (revenue -4.9% year-over-year).
- 2017: Revenue of $7.9M, expenses of $2.3M, and assets of $48.7M (revenue +225.2% year-over-year).
- 2016: Revenue of $2.4M, expenses of $2.3M, and assets of $42.4M (revenue -32.4% year-over-year).
- 2015: Revenue of $3.6M, expenses of $2.1M, and assets of $44.7M (revenue -10.8% year-over-year).
- 2014: Revenue of $4.0M, expenses of $2.3M, and assets of $45.6M (revenue +74.8% year-over-year).
- 2013: Revenue of $2.3M, expenses of $2.0M, and assets of $39.8M (revenue -6.1% year-over-year).
- 2012: Revenue of $2.5M, expenses of $2.2M, and assets of $36.3M (revenue -23.0% year-over-year).
- 2011: Revenue of $3.2M, expenses of $2.2M, and assets of $22.7M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Community Foundation Of Elmira Corning And The Finger Lakes:
Data Sources and Methodology
This transparency report for Community Foundation Of Elmira Corning And The Finger Lakes 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.