Ed Fitts Charitable Foundation
Ed Fitts Charitable Foundation shows substantial asset growth and minimal expenses relative to revenue.
EIN: 201914665 · Littleton, NC · NTEE: T22 · Updated: 2026-03-28
Is Ed Fitts Charitable Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Ed Fitts Charitable Foundation directs 95% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Ed Fitts Charitable Foundation
Ed Fitts Charitable Foundation (EIN: 201914665) is a nonprofit organization based in Littleton, NC, classified under NTEE code T22. The organization reported total revenue of $6.9M and total assets of $24.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Ed Fitts Charitable Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Ed Fitts Charitable Foundation is a mid-size nonprofit that has been operating for 22 years, with 9 years of IRS 990 filings on record (2010–2022). Revenue has grown at a compound annual rate of 13.7%.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
| Total Revenue | $6.5M |
| Total Expenses | $609K |
| Surplus / Deficit | +$5.9M |
| Total Assets | $15.7M |
| Total Liabilities | $1 |
| Net Assets | $15.7M |
| Operating Margin | 90.7% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 309.6 months |
Financial Health Grade: A
In 2022, Ed Fitts Charitable Foundation reported a surplus of $5.9M with revenue exceeding expenses, holds 309.6 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 9 years of filings (2010–2022), Ed Fitts Charitable Foundation's revenue has grown at a compound annual growth rate (CAGR) of 13.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | -19.7% | +772.0% | +60.5% |
| 2021 | +445.7% | -43.2% | +469.2% |
| 2020 | +1297.9% | -60.3% | +389.6% |
| 2019 | -3.9% | +69.9% | -48.6% |
| 2014 | +305.2% | +27.1% | -9.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2004 |
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 Ed Fitts Charitable Foundation with a Mission Score of 90 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 5%
- programs: 95%
- fundraising: 0%
According to IRS 990 filings, Ed Fitts Charitable Foundation allocates its expenses as follows: admin: 5%, programs: 95%, fundraising: 0%. With 95% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $5.9M, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation has consistently been reported as 0% across all available filings, indicating that the foundation's leadership operates on a volunteer basis or through external, non-compensated roles, which is highly favorable for resource allocation.
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 Ed Fitts Charitable Foundation's IRS 990 filings:
- Lack of detailed program spending breakdown beyond summary expenses
- Significant accumulation of assets relative to annual grantmaking (implied by low expenses)
Strengths
The following positive indicators were identified for Ed Fitts Charitable Foundation:
- Exceptional financial health with substantial asset growth (from $275,779 in 2010 to $24,462,790 currently)
- Extremely low expense ratio relative to revenue (e.g., 2022 expenses were less than 10% of revenue)
- Zero officer compensation reported across all filings, indicating volunteer leadership or highly efficient management
- Minimal liabilities ($1 in recent years) demonstrating strong financial control
- Consistent annual IRS 990 filings for transparency
Frequently Asked Questions about Ed Fitts Charitable Foundation
Is Ed Fitts Charitable Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Ed Fitts Charitable Foundation (EIN: 201914665) some concerns. Mission Score: 90/100. 2 red flags identified, 5 strengths noted.
How does Ed Fitts Charitable Foundation spend its money?
Ed Fitts Charitable Foundation directs 95% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Ed Fitts Charitable Foundation tax-deductible?
Ed Fitts Charitable Foundation is registered as a tax-exempt nonprofit (EIN: 201914665). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What specific grants or programs does the Ed Fitts Charitable Foundation support?
The provided data does not detail specific grant recipients or program areas. As a grantmaking foundation (NTEE T22), its primary mission fulfillment would be through grants, which are not itemized here.
How does the foundation manage its significant asset growth?
The foundation has seen its assets grow from $275,779 in 2010 to $24,462,790 currently. This growth, coupled with low expenses, suggests effective investment management and retention of revenue for future charitable activities.
What is the long-term strategy for grant distribution given the low expense ratio?
With expenses consistently being a small fraction of revenue (e.g., $608,932 expenses vs. $6,531,307 revenue in 2022), the foundation appears to be accumulating significant capital. The strategy for deploying these accumulated assets through grants is not detailed in the provided financial summaries.
Filing History
IRS 990 filing history for Ed Fitts Charitable Foundation showing financial trends over 9 years of public records:
Over 9 years of IRS 990 filings (2010–2022), Ed Fitts Charitable Foundation's revenue has grown by 369.1%, moving from $1.4M to $6.5M. Total assets increased by 5595.9% over the same period, from $276K to $15.7M. Total functional expenses fell by 74.6%, from $2.4M to $609K. In its most recent filing year (2022), Ed Fitts Charitable Foundation reported a surplus of $5.9M, with revenue exceeding expenses. The organization holds $1 in liabilities against $15.7M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $15.7M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2022 | $6.5M | $609K | $15.7M | $1 | — | View 990 |
| 2021 | $8.1M | $70K | $9.8M | $1 | — | View 990 |
| 2020 | $1.5M | $123K | $1.7M | $1 | — | View 990 |
| 2019 | $107K | $310K | $351K | $1 | — | — |
| 2014 | $111K | $182K | $684K | $1 | — | View 990 |
| 2013 | $27K | $143K | $755K | $1 | — | View 990 |
| 2012 | $69K | $149K | $871K | $1 | — | View 990 |
| 2011 | $24K | $163K | $950K | $0 | — | View 990 |
| 2010 | $1.4M | $2.4M | $276K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2022: Revenue of $6.5M, expenses of $609K, and assets of $15.7M (revenue -19.7% year-over-year).
- 2021: Revenue of $8.1M, expenses of $70K, and assets of $9.8M (revenue +445.7% year-over-year).
- 2020: Revenue of $1.5M, expenses of $123K, and assets of $1.7M (revenue +1297.9% year-over-year).
- 2019: Revenue of $107K, expenses of $310K, and assets of $351K (revenue -3.9% year-over-year).
- 2014: Revenue of $111K, expenses of $182K, and assets of $684K (revenue +305.2% year-over-year).
- 2013: Revenue of $27K, expenses of $143K, and assets of $755K (revenue -60.4% year-over-year).
- 2012: Revenue of $69K, expenses of $149K, and assets of $871K (revenue +188.3% year-over-year).
- 2011: Revenue of $24K, expenses of $163K, and assets of $950K (revenue -98.3% year-over-year).
- 2010: Revenue of $1.4M, expenses of $2.4M, and assets of $276K.
Data Sources and Methodology
This transparency report for Ed Fitts Charitable Foundation 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.