David A And Mildred H Morse Charitable Tr
David A And Mildred H Morse Charitable Tr shows declining revenue and assets with increasing liabilities in recent years.
EIN: 137063711 · Mt Pleasant, SC · NTEE: T70Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $13 |
| Net Assets | $-143,425 |
| Transparency Score | 20/100 |
Is David A And Mildred H Morse Charitable Tr Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About David A And Mildred H Morse Charitable Tr
David A And Mildred H Morse Charitable Tr (EIN: 137063711) is a nonprofit organization based in Mt Pleasant, SC, classified under NTEE code T70Z. The organization reported total revenue of $13 and total assets of $169K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of David A And Mildred H Morse Charitable Tr's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
David A And Mildred H Morse Charitable Tr is a micro nonprofit that has been operating for 28 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -36.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2K |
| Total Expenses | $0 |
| Surplus / Deficit | +$2K |
| Total Assets | $173K |
| Total Liabilities | $316K |
| Net Assets | $-143,425 |
| Operating Margin | 100.0% |
| Debt-to-Asset Ratio | 183.1% |
Financial Health Grade: B
In 2023, David A And Mildred H Morse Charitable Tr reported a surplus of $2K with revenue exceeding expenses, has a debt-to-asset ratio of 183.1% (high leverage).
Financial Trends
Over 10 years of filings (2011–2023), David A And Mildred H Morse Charitable Tr's revenue has declined at a compound annual growth rate (CAGR) of -36.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | -2213.3% | +67.0% | +18.5% |
| 2021 | +1400.0% | -61.7% | -3.4% |
| 2020 | -99.9% | -67.9% | -7.8% |
| 2019 | -99.7% | -91.0% | -93.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1998 |
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 David A And Mildred H Morse Charitable Tr with a Mission Score of 20 out of 100 (Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 100%
- programs: 0%
- fundraising: 0%
According to IRS 990 filings, David A And Mildred H Morse Charitable Tr allocates its expenses as follows: admin: 100%, programs: 0%, fundraising: 0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- Debt-to-asset ratio: 183.1%.
Executive Compensation Analysis
Executive compensation has consistently been reported as 0% across all available filings, indicating that no officers or directors are receiving compensation from the organization. This is a positive sign for donor confidence regarding executive pay.
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 David A And Mildred H Morse Charitable Tr's IRS 990 filings:
- Drastic decline in revenue and assets since 2015, indicating potential financial instability.
- Significant increase in liabilities from $1 to over $316,000, raising concerns about debt burden.
- Minimal to negative revenue in recent years ($13 in 2023, $-317 in 2022) making sustainability questionable.
- No reported program expenses in recent filings, suggesting a lack of direct charitable activity.
- High administrative spending ratio (100% of expenses in recent years) due to absence of program spending.
Strengths
The following positive indicators were identified for David A And Mildred H Morse Charitable Tr:
- Consistent reporting of 0% officer compensation, indicating good transparency in executive pay.
Frequently Asked Questions about David A And Mildred H Morse Charitable Tr
Is David A And Mildred H Morse Charitable Tr a legitimate charity?
Based on AI analysis of IRS 990 filings, David A And Mildred H Morse Charitable Tr (EIN: 137063711) significant concerns. Mission Score: 20/100. 5 red flags identified, 1 strength noted.
How does David A And Mildred H Morse Charitable Tr spend its money?
Detailed spending breakdown data is not yet available for David A And Mildred H Morse Charitable Tr. Check back for updated IRS 990 analysis.
Are donations to David A And Mildred H Morse Charitable Tr tax-deductible?
David A And Mildred H Morse Charitable Tr is registered as a tax-exempt nonprofit (EIN: 137063711). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does David A And Mildred H Morse Charitable Tr compare to similar nonprofits?
With a transparency score of 20/100 (Poor), David A And Mildred H Morse Charitable Tr is below average for NTEE category T70Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is David A And Mildred H Morse Charitable Tr located?
David A And Mildred H Morse Charitable Tr is headquartered in Mt Pleasant, South Carolina and files with the IRS under EIN 137063711. It is classified under NTEE code T70Z.
How many years of IRS 990 filings does David A And Mildred H Morse Charitable Tr have?
David A And Mildred H Morse Charitable Tr 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 $13 in total revenue.
What caused the drastic decline in revenue and assets after 2015?
The filings show a significant drop in revenue from $304,982 in 2015 to $799 in 2019, and assets from $2,469,864 in 2015 to $161,946 in 2019. This suggests a major change in funding sources or asset management, which is not detailed in the provided data.
Why have liabilities increased so significantly from $1 to over $316,000?
Liabilities jumped from $1 in 2015 to $316,249 in 2019 and have remained high, reaching $316,049 in 2023. This substantial increase in liabilities, especially when juxtaposed with declining assets, warrants further investigation into the nature of these obligations.
How is the organization sustaining itself with minimal to negative revenue and no reported expenses for programs?
With recent revenues as low as $13 (2023) and $-317 (2022), and no reported expenses in 2023, it's unclear how the organization is covering any operational costs or fulfilling its charitable purpose. The NTEE code suggests a private foundation, which typically makes grants, but no grant expenses are evident in recent filings.
What are the 'expenses' reported in recent years if not for programs or officer compensation?
In 2022, $8,065 in expenses were reported, and $4,830 in 2021, with no officer compensation. Given the lack of program spending, these expenses are likely administrative or investment-related, which would represent 100% of spending if no program activities are occurring.
Filing History
IRS 990 filing history for David A And Mildred H Morse Charitable Tr showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), David A And Mildred H Morse Charitable Tr's revenue has declined by 99.6%, moving from $396K to $2K. Total assets decreased by 93.5% over the same period, from $2.7M to $173K. Total functional expenses fell by 100%, from $266K to $0. The organization holds $316K in liabilities against $173K in assets (debt-to-asset ratio: 183.1%), resulting in net assets of $-143,425.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2K | $0 | $173K | $316K | — | — |
| 2022 | $-317 | $8K | $171K | $316K | — | View 990 |
| 2021 | $15 | $5K | $144K | $316K | — | View 990 |
| 2020 | $1 | $13K | $149K | $316K | — | — |
| 2019 | $799 | $39K | $162K | $316K | — | View 990 |
| 2015 | $305K | $436K | $2.5M | $1 | — | View 990 |
| 2014 | $345K | $332K | $2.4M | $1 | — | View 990 |
| 2013 | $253K | $317K | $2.5M | $1 | — | View 990 |
| 2012 | $279K | $288K | $2.7M | $1 | — | View 990 |
| 2011 | $396K | $266K | $2.7M | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2K, expenses of $0, and assets of $173K.
- 2022: Revenue of $-317, expenses of $8K, and assets of $171K (revenue -2213.3% year-over-year).
- 2021: Revenue of $15, expenses of $5K, and assets of $144K (revenue +1400.0% year-over-year).
- 2020: Revenue of $1, expenses of $13K, and assets of $149K (revenue -99.9% year-over-year).
- 2019: Revenue of $799, expenses of $39K, and assets of $162K (revenue -99.7% year-over-year).
- 2015: Revenue of $305K, expenses of $436K, and assets of $2.5M (revenue -11.6% year-over-year).
- 2014: Revenue of $345K, expenses of $332K, and assets of $2.4M (revenue +36.5% year-over-year).
- 2013: Revenue of $253K, expenses of $317K, and assets of $2.5M (revenue -9.4% year-over-year).
- 2012: Revenue of $279K, expenses of $288K, and assets of $2.7M (revenue -29.6% year-over-year).
- 2011: Revenue of $396K, expenses of $266K, and assets of $2.7M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for David A And Mildred H Morse Charitable Tr:
Data Sources and Methodology
This transparency report for David A And Mildred H Morse Charitable Tr 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.