Corlette Glorney Foundation Inc
Corlette Glorney Foundation consistently spends significantly more than it earns, relying on asset depletion.
EIN: 136104151 · Washington, DC · Updated: 2026-03-28
Is Corlette Glorney Foundation Inc Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Corlette Glorney Foundation Inc directs 60% of its spending to programs. This falls below the 65% benchmark. Donors may want to investigate further.
About Corlette Glorney Foundation Inc
Corlette Glorney Foundation Inc (EIN: 136104151) is a nonprofit organization based in Washington, DC. The organization reported total revenue of $919K and total assets of $1.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Corlette Glorney Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Corlette Glorney Foundation Inc is a small nonprofit that has been operating for 69 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -0.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $55K |
| Total Expenses | $264K |
| Surplus / Deficit | $-209,050 |
| Total Assets | $1.3M |
| Total Liabilities | $1 |
| Net Assets | $1.3M |
| Operating Margin | -382.9% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 61.2 months |
Financial Health Grade: B
In 2023, Corlette Glorney Foundation Inc reported a deficit of $209K with expenses exceeding revenue, holds 61.2 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Corlette Glorney Foundation Inc's revenue has declined at a compound annual growth rate (CAGR) of -0.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +14.1% | +1.5% | -6.6% |
| 2022 | +25.5% | -14.3% | +8.8% |
| 2021 | -4.9% | +8.9% | +1.6% |
| 2020 | -14.1% | -2.8% | -9.1% |
| 2019 | -16.1% | +6.5% | -15.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 1957 |
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 Corlette Glorney Foundation Inc with a Mission Score of 40 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 30%
- programs: 60%
- fundraising: 10%
According to IRS 990 filings, Corlette Glorney Foundation Inc allocates its expenses as follows: admin: 30%, programs: 60%, fundraising: 10%. Approximately 60% 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 $209K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Officer compensation has consistently been reported as 0% across all filings, indicating that the organization's leadership is either entirely volunteer-based or compensated through non-officer roles, which is a positive for resource allocation relative to its size.
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 Corlette Glorney Foundation Inc's IRS 990 filings:
- Consistent and significant operational deficits (expenses far exceed revenue)
- Reliance on asset depletion to cover annual expenses
- Declining asset base over the long term
- Unknown NTEE code limits understanding of mission focus
Strengths
The following positive indicators were identified for Corlette Glorney Foundation Inc:
- Minimal liabilities ($0-$1 across all filings)
- No reported officer compensation, indicating volunteer or minimally compensated leadership
- Consistent filing of IRS 990s, demonstrating transparency in reporting
Frequently Asked Questions about Corlette Glorney Foundation Inc
Is Corlette Glorney Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Corlette Glorney Foundation Inc (EIN: 136104151) significant concerns. Mission Score: 40/100. 4 red flags identified, 3 strengths noted.
How does Corlette Glorney Foundation Inc spend its money?
Corlette Glorney Foundation Inc directs 60% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Corlette Glorney Foundation Inc tax-deductible?
Corlette Glorney Foundation Inc is registered as a tax-exempt nonprofit (EIN: 136104151). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Corlette Glorney Foundation Inc. financially sustainable?
Based on the provided data, the foundation is not financially sustainable in its current operational model. It consistently spends significantly more than its revenue, drawing down its assets to cover expenses. For example, in 2023, expenses were $263,640 while revenue was only $54,590.
What is the primary source of funding for the Corlette Glorney Foundation Inc.?
The filings indicate consistent, relatively low revenue figures (e.g., $54,590 in 2023, $47,847 in 2022). Given the large gap between revenue and expenses, it appears the organization is primarily funding its operations by drawing down its existing asset base, rather than through robust fundraising or program service revenue.
How has the organization's asset base changed over time?
The organization's assets have shown a declining trend over the past decade. Starting at $1,459,709 in 2011, they reached a high of $1,714,600 in 2014, but have since decreased to $1,344,162 in 2023, reflecting the consistent operational deficits.
Filing History
IRS 990 filing history for Corlette Glorney Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Corlette Glorney Foundation Inc's revenue has declined by 4.9%, moving from $57K to $55K. Total assets decreased by 7.9% over the same period, from $1.5M to $1.3M. Total functional expenses rose by 19%, from $222K to $264K. In its most recent filing year (2023), Corlette Glorney Foundation Inc reported a deficit of $209K, with expenses exceeding revenue. The organization holds $1 in liabilities against $1.3M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $1.3M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $55K | $264K | $1.3M | $1 | — | — |
| 2022 | $48K | $260K | $1.4M | $1 | — | — |
| 2021 | $38K | $303K | $1.3M | $1 | — | View 990 |
| 2020 | $40K | $279K | $1.3M | $1 | — | View 990 |
| 2019 | $47K | $286K | $1.4M | $1 | — | View 990 |
| 2015 | $56K | $269K | $1.7M | $0 | — | View 990 |
| 2014 | $48K | $249K | $1.7M | $0 | — | View 990 |
| 2013 | $55K | $283K | $1.6M | $0 | — | View 990 |
| 2012 | $68K | $228K | $1.4M | $0 | — | View 990 |
| 2011 | $57K | $222K | $1.5M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $55K, expenses of $264K, and assets of $1.3M (revenue +14.1% year-over-year).
- 2022: Revenue of $48K, expenses of $260K, and assets of $1.4M (revenue +25.5% year-over-year).
- 2021: Revenue of $38K, expenses of $303K, and assets of $1.3M (revenue -4.9% year-over-year).
- 2020: Revenue of $40K, expenses of $279K, and assets of $1.3M (revenue -14.1% year-over-year).
- 2019: Revenue of $47K, expenses of $286K, and assets of $1.4M (revenue -16.1% year-over-year).
- 2015: Revenue of $56K, expenses of $269K, and assets of $1.7M (revenue +16.2% year-over-year).
- 2014: Revenue of $48K, expenses of $249K, and assets of $1.7M (revenue -12.8% year-over-year).
- 2013: Revenue of $55K, expenses of $283K, and assets of $1.6M (revenue -19.2% year-over-year).
- 2012: Revenue of $68K, expenses of $228K, and assets of $1.4M (revenue +18.4% year-over-year).
- 2011: Revenue of $57K, expenses of $222K, and assets of $1.5M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Corlette Glorney Foundation Inc:
Data Sources and Methodology
This transparency report for Corlette Glorney 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.