Corning Community College Development Foundation Inc
Corning Community College Development Foundation: Strong Assets, Volatile Revenue
EIN: 222447399 · Corning, NY · NTEE: B124 · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $6.3M |
| Total Expenses | $3.2M |
| Program Spending | 70% |
| CEO/Top Officer Pay | $0, |
| Net Assets | $11.4M |
| Transparency Score | 75/100 |
Is Corning Community College Development Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Corning Community College Development Foundation Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Corning Community College Development Foundation Inc
Corning Community College Development Foundation Inc (EIN: 222447399) is a nonprofit organization based in Corning, NY, classified under NTEE code B124. The organization reported total revenue of $6.3M and total assets of $27.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Corning Community College Development Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Corning Community College Development Foundation Inc is a mid-size nonprofit that has been operating for 43 years, with 14 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 7.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.3M |
| Total Expenses | $3.2M |
| Surplus / Deficit | $-890,919 |
| Total Assets | $27.9M |
| Total Liabilities | $16.5M |
| Net Assets | $11.4M |
| Operating Margin | -39.2% |
| Debt-to-Asset Ratio | 59.0% |
| Months of Reserves | 105.7 months |
Financial Health Grade: C
In 2023, Corning Community College Development Foundation Inc reported a deficit of $891K with expenses exceeding revenue, holds 105.7 months of operating reserves (strong position), has a debt-to-asset ratio of 59.0% (high leverage).
Financial Trends
Over 14 years of filings (2011–2023), Corning Community College Development Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 7.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -73.7% | -0.3% | -1.0% |
| 2022 | +152.2% | +10.7% | -8.1% |
| 2021 | +61.5% | -7.6% | +2.8% |
| 2020 | -39.1% | -10.1% | -1.8% |
| 2019 | +17.5% | +5.2% | +3.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1983 |
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 Corning Community College Development 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: 15%
- programs: 70%
- fundraising: 15%
According to IRS 990 filings, Corning Community College Development Foundation Inc allocates its expenses as follows: admin: 15%, programs: 70%, fundraising: 15%. 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 $891K, with expenses exceeding revenue.
- Debt-to-asset ratio: 59.0%.
Executive Compensation Analysis
Executive compensation is consistently reported as $0, which is unusual for an organization with assets exceeding $27 million, suggesting compensation may be covered by the college or not fully disclosed in the provided filings.
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 Corning Community College Development Foundation Inc's IRS 990 filings:
- Significant year-over-year revenue volatility (e.g., $8,645,207 in 2022 vs. $2,274,919 in 2023) could impact program stability.
- Consistent reporting of $0 for compensation raises questions about the true cost of executive leadership and potential indirect compensation structures.
Strengths
The following positive indicators were identified for Corning Community College Development Foundation Inc:
- Maintains substantial assets, with $27,199,131 in 2023, providing a strong financial base.
- The foundation's purpose of supporting Corning Community College suggests a clear and impactful mission within its local community.
Frequently Asked Questions about Corning Community College Development Foundation Inc
Is Corning Community College Development Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Corning Community College Development Foundation Inc (EIN: 222447399) some concerns. Mission Score: 75/100. 2 red flags identified, 2 strengths noted.
How does Corning Community College Development Foundation Inc spend its money?
Corning Community College Development Foundation Inc directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Corning Community College Development Foundation Inc tax-deductible?
Corning Community College Development Foundation Inc is registered as a tax-exempt nonprofit (EIN: 222447399). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Corning Community College Development Foundation Inc CEO make?
Corning Community College Development Foundation Inc's highest-compensated officer earns $0, annually. The organization reported $6.3M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Corning Community College Development Foundation Inc's spending goes to programs?
Corning Community College Development Foundation Inc directs 70% to programs, 15% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
How does Corning Community College Development Foundation Inc compare to similar nonprofits?
With a transparency score of 75/100 (Good), Corning Community College Development Foundation Inc is above average for NTEE category B124 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Corning Community College Development Foundation Inc located?
Corning Community College Development Foundation Inc is headquartered in Corning, New York and files with the IRS under EIN 222447399. It is classified under NTEE code B124.
How many years of IRS 990 filings does Corning Community College Development Foundation Inc have?
Corning Community College Development Foundation Inc 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 $6.3M in total revenue.
What does Corning Community College Development Foundation Inc do?
Corning Community College Development Foundation Inc is a nonprofit organization in the Education sector, located in Corning, New York. It is classified under NTEE code B124.
How much revenue does Corning Community College Development Foundation Inc have?
Corning Community College Development Foundation Inc reported total revenue of $6,318,257. Based on 14 IRS 990 filings on record.
What are Corning Community College Development Foundation Inc's total assets?
Corning Community College Development Foundation Inc holds total assets of $27,199,131 as reported in IRS 990 filings.
Where is Corning Community College Development Foundation Inc located?
Corning Community College Development Foundation Inc is based in Corning, New York.
What is Corning Community College Development Foundation Inc's EIN?
Corning Community College Development Foundation Inc's Employer Identification Number (EIN) is 222447399. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Corning Community College Development Foundation Inc?
Corning Community College Development Foundation Inc is classified under NTEE code B124 (Education).
Is Corning Community College Development Foundation Inc a registered 501(c)(3)?
Yes, Corning Community College Development Foundation Inc is recognized as a tax-exempt organization by the IRS. EIN: 222447399.
Does Corning Community College Development Foundation Inc file IRS Form 990?
Yes, Corning Community College Development Foundation Inc has 14 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Corning Community College Development Foundation Inc's revenue in 2023?
In the 202312 filing period, Corning Community College Development Foundation Inc reported total revenue of $2,274,919, total expenses of $3,165,838, and net assets of $27,885,373.
Is Corning Community College Development Foundation Inc's revenue growing or declining?
Corning Community College Development Foundation Inc's revenue is declining. Revenue went from $8,645,207 (202212) to $2,274,919 (202312), a -73.7% change. Based on 14 filings on record.
What is Corning Community College Development Foundation Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Corning Community College Development Foundation Inc covers tax period 202312. It shows revenue of $2,274,919, expenses of $3,165,838, total assets of $27,885,373, and liabilities of $16,459,647.
How much does Corning Community College Development Foundation Inc spend on programs vs administration?
Based on IRS 990 analysis, Corning Community College Development Foundation Inc allocates approximately 70% of expenses to program services, 15% to administrative costs, and 15% to fundraising. Program spending is moderate relative to overhead.
Is Corning Community College Development Foundation Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Corning Community College Development Foundation Inc appears trustworthy. Mission Score: 75/100 (Good). 2 red flags identified. 2 strengths noted.
What are the red flags for Corning Community College Development Foundation Inc?
The following concerns were identified: Significant year-over-year revenue volatility (e.g., $8,645,207 in 2022 vs. $2,274,919 in 2023) could impact program stability.. Consistent reporting of $0 for compensation raises questions about the true cost of executive leadership and potential indirect compensation structures.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Corning Community College Development Foundation Inc's strengths?
Positive indicators for Corning Community College Development Foundation Inc include: Maintains substantial assets, with $27,199,131 in 2023, providing a strong financial base.. The foundation's purpose of supporting Corning Community College suggests a clear and impactful mission within its local community.. These findings are derived from AI analysis of the organization's financial filings.
How does Corning Community College Development Foundation Inc compensate executives?
Executive compensation is consistently reported as $0, which is unusual for an organization with assets exceeding $27 million, suggesting compensation may be covered by the college or not fully disclosed in the provided filings. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the consistent reporting of $0 for compensation, how are the operational and leadership costs for the foundation covered, and what is the actual financial commitment from the college or other entities for these services?
The consistent $0 compensation suggests that executive and potentially other key personnel costs are likely absorbed by Corning Community College directly or through other non-reported mechanisms, rather than being paid directly by the foundation and disclosed in these filings.
Filing History
IRS 990 filing history for Corning Community College Development Foundation Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2023), Corning Community College Development Foundation Inc's revenue has grown by 149.8%, moving from $911K to $2.3M. Total assets increased by 353.4% over the same period, from $6.1M to $27.9M. Total functional expenses rose by 291.6%, from $808K to $3.2M. In its most recent filing year (2023), Corning Community College Development Foundation Inc reported a deficit of $891K, with expenses exceeding revenue. The organization holds $16.5M in liabilities against $27.9M in assets (debt-to-asset ratio: 59.0%), resulting in net assets of $11.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.3M | $3.2M | $27.9M | $16.5M | — | — |
| 2022 | $8.6M | $3.2M | $28.2M | $16.6M | — | — |
| 2021 | $3.4M | $2.9M | $30.6M | $23.0M | — | View 990 |
| 2020 | $2.1M | $3.1M | $29.8M | $23.2M | — | View 990 |
| 2019 | $3.5M | $3.5M | $30.4M | $23.5M | — | View 990 |
| 2018 | $3.0M | $3.3M | $29.4M | $23.3M | — | View 990 |
| 2017 | $2.8M | $3.3M | $32.9M | $26.3M | — | View 990 |
| 2016 | $3.6M | $3.0M | $25.1M | $18.6M | — | View 990 |
| 2015 | $2.9M | $3.1M | $24.5M | $19.4M | — | View 990 |
| 2014 | $5.0M | $5.9M | $26.9M | $20.4M | — | View 990 |
| 2013 | $1.8M | $1.4M | $25.4M | $17.9M | — | View 990 |
| 2012 | $502K | $271K | $12.5M | $6.0M | — | View 990 |
| 2012 | $782K | $496K | $6.9M | $638K | — | View 990 |
| 2011 | $911K | $808K | $6.1M | $133K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.3M, expenses of $3.2M, and assets of $27.9M (revenue -73.7% year-over-year).
- 2022: Revenue of $8.6M, expenses of $3.2M, and assets of $28.2M (revenue +152.2% year-over-year).
- 2021: Revenue of $3.4M, expenses of $2.9M, and assets of $30.6M (revenue +61.5% year-over-year).
- 2020: Revenue of $2.1M, expenses of $3.1M, and assets of $29.8M (revenue -39.1% year-over-year).
- 2019: Revenue of $3.5M, expenses of $3.5M, and assets of $30.4M (revenue +17.5% year-over-year).
- 2018: Revenue of $3.0M, expenses of $3.3M, and assets of $29.4M (revenue +7.8% year-over-year).
- 2017: Revenue of $2.8M, expenses of $3.3M, and assets of $32.9M (revenue -23.9% year-over-year).
- 2016: Revenue of $3.6M, expenses of $3.0M, and assets of $25.1M (revenue +23.8% year-over-year).
- 2015: Revenue of $2.9M, expenses of $3.1M, and assets of $24.5M (revenue -41.6% year-over-year).
- 2014: Revenue of $5.0M, expenses of $5.9M, and assets of $26.9M (revenue +184.4% year-over-year).
- 2013: Revenue of $1.8M, expenses of $1.4M, and assets of $25.4M (revenue +250.4% year-over-year).
- 2012: Revenue of $502K, expenses of $271K, and assets of $12.5M (revenue -35.8% year-over-year).
- 2012: Revenue of $782K, expenses of $496K, and assets of $6.9M (revenue -14.1% year-over-year).
- 2011: Revenue of $911K, expenses of $808K, and assets of $6.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Corning Community College Development Foundation Inc:
Data Sources and Methodology
This transparency report for Corning Community College Development 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.