Companion Foundation
Companion Foundation consistently spends more than it earns, relying on substantial assets.
EIN: 203050085 · Charleston, SC · NTEE: L20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $6.3M |
| Total Expenses | $6.2M |
| Program Spending | 70% |
| CEO/Top Officer Pay | $5 |
| Net Assets | $10.2M |
| Transparency Score | 65/100 |
Is Companion Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Companion Foundation directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Companion Foundation
Companion Foundation (EIN: 203050085) is a nonprofit organization based in Charleston, SC, classified under NTEE code L20. The organization reported total revenue of $6.3M and total assets of $20.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Companion Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Companion Foundation is a mid-size nonprofit that has been operating for 19 years, with 10 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 9.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $5.9M |
| Total Expenses | $6.2M |
| Surplus / Deficit | $-308,419 |
| Total Assets | $22.0M |
| Total Liabilities | $11.8M |
| Net Assets | $10.2M |
| Operating Margin | -5.2% |
| Debt-to-Asset Ratio | 53.9% |
| Months of Reserves | 42.4 months |
Financial Health Grade: C
In 2023, Companion Foundation reported a deficit of $308K with expenses exceeding revenue, holds 42.4 months of operating reserves (strong position), has a debt-to-asset ratio of 53.9% (high leverage).
Financial Trends
Over 10 years of filings (2010–2023), Companion Foundation's revenue has grown at a compound annual growth rate (CAGR) of 9.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +11.3% | +6.6% | -6.3% |
| 2022 | +0.5% | +1.2% | -2.1% |
| 2021 | +6.5% | +5.3% | -3.2% |
| 2019 | +15.2% | +9.4% | -2.1% |
| 2015 | +5.4% | +3.0% | -2.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2007 |
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 Companion 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, Companion 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 $308K, with expenses exceeding revenue.
- Debt-to-asset ratio: 53.9%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, which is highly unusual for an organization of its size with revenues exceeding $5 million. This suggests either a fully volunteer executive leadership or that compensation is categorized differently, requiring further scrutiny to understand true 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 Companion Foundation's IRS 990 filings:
- Consistent deficit spending (expenses exceeding revenue) in recent years.
- Unusually low (0%) reported officer compensation for an organization of this size, potentially obscuring true administrative costs.
Strengths
The following positive indicators were identified for Companion Foundation:
- Long operating history with 10 IRS 990 filings available, indicating transparency in reporting.
- Substantial asset base ($22,001,616 in 2023) provides financial stability despite deficit spending.
- Consistent revenue growth over the past decade, from $1.8M in 2010 to $5.9M in 2023.
Frequently Asked Questions about Companion Foundation
Is Companion Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Companion Foundation (EIN: 203050085) some concerns. Mission Score: 65/100. 2 red flags identified, 3 strengths noted.
How does Companion Foundation spend its money?
Companion Foundation directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Companion Foundation tax-deductible?
Companion Foundation is registered as a tax-exempt nonprofit (EIN: 203050085). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Companion Foundation CEO make?
Companion Foundation's highest-compensated officer earns $5 annually. The organization reported $6.3M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Companion Foundation's spending goes to programs?
Companion Foundation directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
How does Companion Foundation compare to similar nonprofits?
With a transparency score of 65/100 (Good), Companion Foundation is above average for NTEE category L20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Companion Foundation located?
Companion Foundation is headquartered in Charleston, South Carolina and files with the IRS under EIN 203050085. It is classified under NTEE code L20.
How many years of IRS 990 filings does Companion Foundation have?
Companion Foundation has 10 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 $6.3M in total revenue.
Why does Companion Foundation consistently report expenses exceeding revenue?
The filings show a pattern of deficit spending, for example, in 2023, expenses were $6,224,692 while revenue was $5,916,273. This suggests the organization is either drawing down reserves or relying on other non-revenue income sources to cover its operational costs.
How does Companion Foundation manage to operate with 0% reported officer compensation?
The consistent reporting of 0% officer compensation across all filings is highly unusual for an organization of this scale. It could indicate a volunteer-led executive team, or that executive compensation is reported under different expense categories, which would require a deeper dive into the full 990 forms to clarify.
What is the long-term strategy for financial sustainability given the consistent deficit spending?
With expenses regularly surpassing revenue, as seen in multiple recent periods (e.g., 2023, 2022, 2021), the organization's long-term financial health could be impacted if this trend continues without a clear plan to balance the budget or increase sustainable revenue streams.
Filing History
IRS 990 filing history for Companion Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2010–2023), Companion Foundation's revenue has grown by 222.6%, moving from $1.8M to $5.9M. Total assets increased by 165.3% over the same period, from $8.3M to $22.0M. Total functional expenses rose by 181.2%, from $2.2M to $6.2M. In its most recent filing year (2023), Companion Foundation reported a deficit of $308K, with expenses exceeding revenue. The organization holds $11.8M in liabilities against $22.0M in assets (debt-to-asset ratio: 53.9%), resulting in net assets of $10.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $5.9M | $6.2M | $22.0M | $11.8M | — | — |
| 2022 | $5.3M | $5.8M | $23.5M | $13.0M | — | View 990 |
| 2021 | $5.3M | $5.8M | $24.0M | $13.0M | — | View 990 |
| 2019 | $5.0M | $5.5M | $24.8M | $12.8M | — | View 990 |
| 2015 | $4.3M | $5.0M | $25.3M | $10.8M | — | View 990 |
| 2014 | $4.1M | $4.9M | $26.0M | $10.1M | — | View 990 |
| 2013 | $1.9M | $1.9M | $26.9M | $10.2M | — | View 990 |
| 2012 | $1.8M | $1.9M | $8.1M | $10.5M | — | View 990 |
| 2011 | $2.2M | $2.1M | $8.4M | $10.7M | — | View 990 |
| 2010 | $1.8M | $2.2M | $8.3M | $11.0M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $5.9M, expenses of $6.2M, and assets of $22.0M (revenue +11.3% year-over-year).
- 2022: Revenue of $5.3M, expenses of $5.8M, and assets of $23.5M (revenue +0.5% year-over-year).
- 2021: Revenue of $5.3M, expenses of $5.8M, and assets of $24.0M (revenue +6.5% year-over-year).
- 2019: Revenue of $5.0M, expenses of $5.5M, and assets of $24.8M (revenue +15.2% year-over-year).
- 2015: Revenue of $4.3M, expenses of $5.0M, and assets of $25.3M (revenue +5.4% year-over-year).
- 2014: Revenue of $4.1M, expenses of $4.9M, and assets of $26.0M (revenue +115.6% year-over-year).
- 2013: Revenue of $1.9M, expenses of $1.9M, and assets of $26.9M (revenue +3.9% year-over-year).
- 2012: Revenue of $1.8M, expenses of $1.9M, and assets of $8.1M (revenue -16.8% year-over-year).
- 2011: Revenue of $2.2M, expenses of $2.1M, and assets of $8.4M (revenue +19.8% year-over-year).
- 2010: Revenue of $1.8M, expenses of $2.2M, and assets of $8.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Companion Foundation:
Data Sources and Methodology
This transparency report for Companion 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.