David & Betsey Kilmartin Charitable Foundation Inc
Kilmartin Charitable Foundation: High Assets, Low Activity, and No Executive Compensation
EIN: 222727613 · Glocester, RI · NTEE: T20 · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $332K |
| Total Expenses | $31K |
| CEO/Top Officer Pay | $0 |
| Net Assets | $631K |
| Transparency Score | 45/100 |
Is David & Betsey Kilmartin Charitable Foundation Inc Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About David & Betsey Kilmartin Charitable Foundation Inc
David & Betsey Kilmartin Charitable Foundation Inc (EIN: 222727613) is a nonprofit organization based in Glocester, RI, classified under NTEE code T20. The organization reported total revenue of $332K and total assets of $13K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of David & Betsey Kilmartin Charitable Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
David & Betsey Kilmartin Charitable Foundation Inc is a small nonprofit that has been operating for 9 years, with 6 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 6.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $161K |
| Total Expenses | $31K |
| Surplus / Deficit | +$130K |
| Total Assets | $631K |
| Total Liabilities | $1 |
| Net Assets | $631K |
| Operating Margin | 80.7% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 242.8 months |
Financial Health Grade: A
In 2023, David & Betsey Kilmartin Charitable Foundation Inc reported a surplus of $130K with revenue exceeding expenses, holds 242.8 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 6 years of filings (2011–2023), David & Betsey Kilmartin Charitable Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 6.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +149.3% | -71.9% | +26.0% |
| 2022 | -34.2% | +69.8% | -9.4% |
| 2021 | -25.6% | -51.5% | +7.6% |
| 2020 | +53.5% | +338.5% | -15.8% |
| 2012 | +12.4% | -30.0% | +10.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2017 |
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 & Betsey Kilmartin Charitable Foundation Inc with a Mission Score of 45 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: 100%
- programs: 0%
- fundraising: 0%
According to IRS 990 filings, David & Betsey Kilmartin Charitable Foundation Inc allocates its expenses as follows: admin: 100%, programs: 0%, fundraising: 0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $130K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is consistently reported as $0 across all available filings, indicating no salaries or other compensation paid to officers, directors, trustees, or key employees.
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 & Betsey Kilmartin Charitable Foundation Inc's IRS 990 filings:
- Despite substantial assets (e.g., $630,821 in 2023), the foundation consistently reports $0 in program service expenses, raising questions about its charitable impact.
- The primary activity appears to be asset management rather than active grant-making, with expenses largely administrative (e.g., $31,177 in 2023 for 'other expenses').
Strengths
The following positive indicators were identified for David & Betsey Kilmartin Charitable Foundation Inc:
- The foundation maintains a healthy asset base, with assets consistently over $500,000 in recent years (e.g., $630,821 in 2023).
- Zero executive compensation is a positive for donor confidence regarding administrative overhead.
- Consistent public filing of tax documents demonstrates transparency regarding financial holdings.
Frequently Asked Questions about David & Betsey Kilmartin Charitable Foundation Inc
Is David & Betsey Kilmartin Charitable Foundation Inc a legitimate charity?
David & Betsey Kilmartin Charitable Foundation Inc (EIN: 222727613) is a registered tax-exempt nonprofit based in Rhode Island. Our AI analysis gives it a Mission Score of 45/100. It has 6 years of IRS 990 filings on record. Total revenue: $332K. 2 red flags identified. 3 strengths noted. Financial health grade: A.
How does David & Betsey Kilmartin Charitable Foundation Inc spend its money?
David & Betsey Kilmartin Charitable Foundation Inc reported $332K in total revenue in IRS 990 filings. 6 years of filing data available. Revenue exceeded expenses in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to David & Betsey Kilmartin Charitable Foundation Inc tax-deductible?
David & Betsey Kilmartin Charitable Foundation Inc is registered as a tax-exempt nonprofit (EIN: 222727613). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the David & Betsey Kilmartin Charitable Foundation Inc CEO make?
David & Betsey Kilmartin Charitable Foundation Inc's highest-compensated officer earns $0 annually. The organization reported $332K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
How does David & Betsey Kilmartin Charitable Foundation Inc compare to similar nonprofits?
With a transparency score of 45/100 (Fair), David & Betsey Kilmartin Charitable Foundation Inc is near average for NTEE category T20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is David & Betsey Kilmartin Charitable Foundation Inc located?
David & Betsey Kilmartin Charitable Foundation Inc is headquartered in Glocester, Rhode Island and files with the IRS under EIN 222727613. It is classified under NTEE code T20.
How many years of IRS 990 filings does David & Betsey Kilmartin Charitable Foundation Inc have?
David & Betsey Kilmartin Charitable Foundation Inc has 6 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 $332K in total revenue.
What does David & Betsey Kilmartin Charitable Foundation Inc do?
David & Betsey Kilmartin Charitable Foundation Inc is a nonprofit organization in the Philanthropy, Voluntarism & Grantmaking sector, located in Glocester, Rhode Island. It is classified under NTEE code T20.
How much revenue does David & Betsey Kilmartin Charitable Foundation Inc have?
David & Betsey Kilmartin Charitable Foundation Inc reported total revenue of $332,249. Based on 6 IRS 990 filings on record.
What are David & Betsey Kilmartin Charitable Foundation Inc's total assets?
David & Betsey Kilmartin Charitable Foundation Inc holds total assets of $12,887 as reported in IRS 990 filings.
Where is David & Betsey Kilmartin Charitable Foundation Inc located?
David & Betsey Kilmartin Charitable Foundation Inc is based in Glocester, Rhode Island.
What is David & Betsey Kilmartin Charitable Foundation Inc's EIN?
David & Betsey Kilmartin Charitable Foundation Inc's Employer Identification Number (EIN) is 222727613. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is David & Betsey Kilmartin Charitable Foundation Inc?
David & Betsey Kilmartin Charitable Foundation Inc is classified under NTEE code T20 (Philanthropy, Voluntarism & Grantmaking).
Is David & Betsey Kilmartin Charitable Foundation Inc a registered 501(c)(3)?
Yes, David & Betsey Kilmartin Charitable Foundation Inc is recognized as a tax-exempt organization by the IRS. EIN: 222727613.
Does David & Betsey Kilmartin Charitable Foundation Inc file IRS Form 990?
Yes, David & Betsey Kilmartin Charitable Foundation Inc has 6 IRS Form 990 filings on record. The most recent covers tax period 202302.
What was David & Betsey Kilmartin Charitable Foundation Inc's revenue in 2023?
In the 202302 filing period, David & Betsey Kilmartin Charitable Foundation Inc reported total revenue of $161,333, total expenses of $31,177, and net assets of $630,821.
Is David & Betsey Kilmartin Charitable Foundation Inc's revenue growing or declining?
David & Betsey Kilmartin Charitable Foundation Inc's revenue is growing. Revenue went from $64,709 (202202) to $161,333 (202302), a +149.3% change. Based on 6 filings on record.
What is David & Betsey Kilmartin Charitable Foundation Inc's most recent 990 filing?
The most recent IRS Form 990 filing for David & Betsey Kilmartin Charitable Foundation Inc covers tax period 202302. It shows revenue of $161,333, expenses of $31,177, total assets of $630,821, and liabilities of $1.
Is David & Betsey Kilmartin Charitable Foundation Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, David & Betsey Kilmartin Charitable Foundation Inc shows mixed signals. Mission Score: 45/100 (Fair). 2 red flags identified. 3 strengths noted.
What are the red flags for David & Betsey Kilmartin Charitable Foundation Inc?
The following concerns were identified: Despite substantial assets (e.g., $630,821 in 2023), the foundation consistently reports $0 in program service expenses, raising questions about its charitable impact.. The primary activity appears to be asset management rather than active grant-making, with expenses largely administrative (e.g., $31,177 in 2023 for 'other expenses').. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are David & Betsey Kilmartin Charitable Foundation Inc's strengths?
Positive indicators for David & Betsey Kilmartin Charitable Foundation Inc include: The foundation maintains a healthy asset base, with assets consistently over $500,000 in recent years (e.g., $630,821 in 2023).. Zero executive compensation is a positive for donor confidence regarding administrative overhead.. Consistent public filing of tax documents demonstrates transparency regarding financial holdings.. These findings are derived from AI analysis of the organization's financial filings.
How does David & Betsey Kilmartin Charitable Foundation Inc compensate executives?
Executive compensation is consistently reported as $0 across all available filings, indicating no salaries or other compensation paid to officers, directors, trustees, or key employees. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the substantial assets and zero program service expenses, what is the long-term strategy for the David & Betsey Kilmartin Charitable Foundation Inc. to fulfill its charitable purpose?
The available data suggests the foundation primarily functions as an asset holder. Without program expenses, its charitable impact is currently minimal, implying a potential future strategy for grant-making or a different form of charitable engagement not reflected in current spending.
Filing History
IRS 990 filing history for David & Betsey Kilmartin Charitable Foundation Inc showing financial trends over 6 years of public records:
Over 6 years of IRS 990 filings (2011–2023), David & Betsey Kilmartin Charitable Foundation Inc's revenue has grown by 110.9%, moving from $77K to $161K. Total assets increased by 13.7% over the same period, from $555K to $631K. Total functional expenses fell by 28.9%, from $44K to $31K. In its most recent filing year (2023), David & Betsey Kilmartin Charitable Foundation Inc reported a surplus of $130K, with revenue exceeding expenses. The organization holds $1 in liabilities against $631K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $631K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $161K | $31K | $631K | $1 | — | View 990 |
| 2022 | $65K | $111K | $501K | $1 | — | View 990 |
| 2021 | $98K | $65K | $553K | $6K | — | View 990 |
| 2020 | $132K | $135K | $514K | $0 | — | View 990 |
| 2012 | $86K | $31K | $610K | $1 | — | View 990 |
| 2011 | $77K | $44K | $555K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $161K, expenses of $31K, and assets of $631K (revenue +149.3% year-over-year).
- 2022: Revenue of $65K, expenses of $111K, and assets of $501K (revenue -34.2% year-over-year).
- 2021: Revenue of $98K, expenses of $65K, and assets of $553K (revenue -25.6% year-over-year).
- 2020: Revenue of $132K, expenses of $135K, and assets of $514K (revenue +53.5% year-over-year).
- 2012: Revenue of $86K, expenses of $31K, and assets of $610K (revenue +12.4% year-over-year).
- 2011: Revenue of $77K, expenses of $44K, and assets of $555K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for David & Betsey Kilmartin Charitable Foundation Inc:
Data Sources and Methodology
This transparency report for David & Betsey Kilmartin Charitable 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.