Corvias Foundation Inc
Corvias Foundation consistently operates on thin margins with minimal assets, relying on annual revenue to cover expenses.
EIN: 204848228 · Warwick, RI · NTEE: B82 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $475K |
| Total Expenses | $1.2M |
| Program Spending | 80% |
| Net Assets | $19K |
| Transparency Score | 70/100 |
Is Corvias Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Corvias Foundation Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Corvias Foundation Inc
Corvias Foundation Inc (EIN: 204848228) is a nonprofit organization based in Warwick, RI, classified under NTEE code B82. The organization reported total revenue of $475K and total assets of $9K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Corvias Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Corvias Foundation Inc is a small nonprofit that has been operating for 19 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 4.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.2M |
| Total Expenses | $1.2M |
| Surplus / Deficit | +$53K |
| Total Assets | $19K |
| Total Liabilities | $1 |
| Net Assets | $19K |
| Operating Margin | 4.3% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 0.2 months |
Financial Health Grade: A
In 2023, Corvias Foundation Inc reported a surplus of $53K with revenue exceeding expenses, holds 0.2 months of operating reserves (limited), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Corvias Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 4.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +0.5% | -1.1% | +225.8% |
| 2022 | +3.4% | +1.0% | +23.2% |
| 2021 | -1.4% | -1.4% | -62.8% |
| 2020 | -16.3% | -24.2% | -48.7% |
| 2019 | +10.2% | +17.3% | +247.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| 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 Corvias Foundation Inc with a Mission Score of 70 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: 80%
- fundraising: 5%
According to IRS 990 filings, Corvias Foundation Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $53K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
No officer compensation has been reported across all ten available IRS 990 filings, indicating that executive leadership may be volunteer-based or compensated through an affiliated entity, which can be a positive for minimizing overhead costs.
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 Corvias Foundation Inc's IRS 990 filings:
- Consistently low asset base relative to annual revenue, indicating limited financial reserves (e.g., $18,535 assets vs. $1.2M revenue in 2023).
- Fluctuating liabilities without clear context, such as $1 in 2023 compared to $102,637 in 2019.
Strengths
The following positive indicators were identified for Corvias Foundation Inc:
- Consistent annual revenue generation exceeding $1 million for most of the past decade.
- No reported officer compensation, suggesting efficient use of funds or volunteer leadership.
- Consistent filing of IRS 990 forms, indicating transparency in reporting.
Frequently Asked Questions about Corvias Foundation Inc
Is Corvias Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Corvias Foundation Inc (EIN: 204848228) some concerns. Mission Score: 70/100. 2 red flags identified, 3 strengths noted.
How does Corvias Foundation Inc spend its money?
Corvias Foundation Inc directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Corvias Foundation Inc tax-deductible?
Corvias Foundation Inc is registered as a tax-exempt nonprofit (EIN: 204848228). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Corvias Foundation Inc's spending goes to programs?
Corvias Foundation Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Corvias Foundation Inc compare to similar nonprofits?
With a transparency score of 70/100 (Good), Corvias Foundation Inc is above average for NTEE category B82 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Corvias Foundation Inc located?
Corvias Foundation Inc is headquartered in Warwick, Rhode Island and files with the IRS under EIN 204848228. It is classified under NTEE code B82.
How many years of IRS 990 filings does Corvias Foundation Inc have?
Corvias Foundation Inc 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 $475K in total revenue.
Why are Corvias Foundation's assets consistently so low?
The organization's assets have consistently been very low, for example, $18,535 in 2023 and $5,689 in 2022, despite annual revenues exceeding $1 million. This suggests a model where funds are quickly disbursed, or it relies heavily on external support for operational infrastructure rather than building reserves.
What is the detailed breakdown of program, administrative, and fundraising expenses?
The provided data does not include a detailed functional expense breakdown. While total expenses are reported (e.g., $1,167,705 in 2023), understanding the proportion allocated to programs versus overhead is crucial for assessing efficiency.
How does Corvias Foundation manage its liabilities, which have fluctuated significantly?
Liabilities have varied, from $1 in 2023 to $102,637 in 2019. Understanding the nature of these liabilities and how they are managed is important for financial stability.
Filing History
IRS 990 filing history for Corvias Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Corvias Foundation Inc's revenue has grown by 62.1%, moving from $753K to $1.2M. Total assets decreased by 78.4% over the same period, from $86K to $19K. Total functional expenses rose by 44.7%, from $807K to $1.2M. In its most recent filing year (2023), Corvias Foundation Inc reported a surplus of $53K, with revenue exceeding expenses. The organization holds $1 in liabilities against $19K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $19K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.2M | $1.2M | $19K | $1 | — | — |
| 2022 | $1.2M | $1.2M | $6K | $40K | — | View 990 |
| 2021 | $1.2M | $1.2M | $5K | $73K | — | View 990 |
| 2020 | $1.2M | $1.2M | $12K | $85K | — | View 990 |
| 2019 | $1.4M | $1.6M | $24K | $103K | — | View 990 |
| 2015 | $1.3M | $1.3M | $7K | $33K | — | View 990 |
| 2014 | $1.4M | $1.5M | $30K | $14K | — | View 990 |
| 2013 | $864K | $861K | $86K | $42K | — | View 990 |
| 2012 | $901K | $945K | $69K | $28K | — | View 990 |
| 2011 | $753K | $807K | $86K | $2K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.2M, expenses of $1.2M, and assets of $19K (revenue +0.5% year-over-year).
- 2022: Revenue of $1.2M, expenses of $1.2M, and assets of $6K (revenue +3.4% year-over-year).
- 2021: Revenue of $1.2M, expenses of $1.2M, and assets of $5K (revenue -1.4% year-over-year).
- 2020: Revenue of $1.2M, expenses of $1.2M, and assets of $12K (revenue -16.3% year-over-year).
- 2019: Revenue of $1.4M, expenses of $1.6M, and assets of $24K (revenue +10.2% year-over-year).
- 2015: Revenue of $1.3M, expenses of $1.3M, and assets of $7K (revenue -9.2% year-over-year).
- 2014: Revenue of $1.4M, expenses of $1.5M, and assets of $30K (revenue +64.8% year-over-year).
- 2013: Revenue of $864K, expenses of $861K, and assets of $86K (revenue -4.2% year-over-year).
- 2012: Revenue of $901K, expenses of $945K, and assets of $69K (revenue +19.7% year-over-year).
- 2011: Revenue of $753K, expenses of $807K, and assets of $86K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Corvias Foundation Inc:
Data Sources and Methodology
This transparency report for Corvias 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.