Elgin Foundation
Elgin Foundation maintains substantial assets while consistently reporting zero officer compensation.
EIN: 200337919 · Knoxville, TN · NTEE: T22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $4.9M |
| Total Expenses | $2.2M |
| Program Spending | 90% |
| Net Assets | $29.9M |
| Transparency Score | 90/100 |
Is Elgin Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Elgin Foundation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Elgin Foundation
Elgin Foundation (EIN: 200337919) is a nonprofit organization based in Knoxville, TN, classified under NTEE code T22. The organization reported total revenue of $4.9M and total assets of $30.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Elgin Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Elgin Foundation is a mid-size nonprofit that has been operating for 22 years, with 11 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 0.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.0M |
| Total Expenses | $2.2M |
| Surplus / Deficit | $-147,228 |
| Total Assets | $29.9M |
| Total Liabilities | $7 |
| Net Assets | $29.9M |
| Operating Margin | -7.3% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 166.5 months |
Financial Health Grade: B
In 2023, Elgin Foundation reported a deficit of $147K with expenses exceeding revenue, holds 166.5 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 11 years of filings (2011–2023), Elgin Foundation's revenue has grown at a compound annual growth rate (CAGR) of 0.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +1.6% | -7.3% | -0.5% |
| 2022 | -8.8% | -0.7% | -1.1% |
| 2021 | -25.7% | +3.2% | -0.6% |
| 2020 | +55.7% | -9.3% | +2.2% |
| 2019 | +281.5% | +29.0% | -6.2% |
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 Elgin 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: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Elgin Foundation allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% 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 deficit of $147K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Elgin Foundation consistently reports 0% officer compensation across all available filings, indicating a volunteer-led executive structure or extremely low administrative overhead at the leadership level, which is highly commendable for a foundation of its size.
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 Elgin Foundation's IRS 990 filings:
- Expenses frequently exceed revenue in recent periods, potentially indicating reliance on asset drawdowns.
Strengths
The following positive indicators were identified for Elgin Foundation:
- Consistent reporting of 0% officer compensation, indicating high efficiency and transparency.
- Substantial and stable asset base, consistently over $30 million, providing long-term financial security.
- Minimal liabilities, often reported as single-digit figures, reflecting strong financial management.
- Long and consistent IRS 990 filing history, demonstrating transparency and accountability.
Frequently Asked Questions about Elgin Foundation
Is Elgin Foundation a legitimate charity?
Elgin Foundation (EIN: 200337919) is a registered tax-exempt nonprofit based in Tennessee. Our AI analysis gives it a Mission Score of 90/100. It has 11 years of IRS 990 filings on record. Total revenue: $4.9M. 1 red flag identified. 4 strengths noted. Financial health grade: B.
How does Elgin Foundation spend its money?
Elgin Foundation directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Elgin Foundation tax-deductible?
Elgin Foundation is registered as a tax-exempt nonprofit (EIN: 200337919). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Elgin Foundation compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), Elgin Foundation is above average for NTEE category T22 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Elgin Foundation located?
Elgin Foundation is headquartered in Knoxville, Tennessee and files with the IRS under EIN 200337919. It is classified under NTEE code T22.
How many years of IRS 990 filings does Elgin Foundation have?
Elgin Foundation has 11 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 $4.9M in total revenue.
How does Elgin Foundation manage to operate with 0% officer compensation?
The consistent reporting of 0% officer compensation suggests that the foundation's executive leadership may be entirely volunteer-based or that compensation is covered through other means not classified as officer compensation, which is highly unusual and efficient for an organization with over $30 million in assets.
What is the primary reason for expenses exceeding revenue in recent years?
In periods like 2023 and 2022, expenses exceeded revenue. This could be due to strategic spending from accumulated surpluses, market fluctuations affecting investment income (which contributes to revenue for foundations), or increased grantmaking activities, drawing down on the substantial asset base.
What is the nature of the 'Liabilities' reported, often as low as $7?
The extremely low liabilities, often reported as $7 or less, suggest minimal operational debt or outstanding obligations, indicating very strong financial management and a healthy balance sheet.
Filing History
IRS 990 filing history for Elgin Foundation showing financial trends over 11 years of public records:
Over 11 years of IRS 990 filings (2011–2023), Elgin Foundation's revenue has grown by 8.7%, moving from $1.8M to $2.0M. Total assets increased by 2.4% over the same period, from $29.2M to $29.9M. Total functional expenses fell by 39.6%, from $3.6M to $2.2M. In its most recent filing year (2023), Elgin Foundation reported a deficit of $147K, with expenses exceeding revenue. The organization holds $7 in liabilities against $29.9M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $29.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.0M | $2.2M | $29.9M | $7 | — | — |
| 2022 | $2.0M | $2.3M | $30.0M | $7 | — | View 990 |
| 2021 | $2.2M | $2.3M | $30.4M | $108 | — | — |
| 2020 | $2.9M | $2.3M | $30.6M | $3K | — | — |
| 2019 | $1.9M | $2.5M | $29.9M | $1 | — | View 990 |
| 2015 | $491K | $1.9M | $31.9M | $0 | — | View 990 |
| 2015 | $2.7M | $1.3M | $32.9M | $1 | — | View 990 |
| 2014 | $1.2M | $1.1M | $31.5M | $0 | — | View 990 |
| 2013 | $1.2M | $1.7M | $31.5M | $0 | — | View 990 |
| 2012 | $3.5M | $663K | $32.1M | $168 | — | View 990 |
| 2011 | $1.8M | $3.6M | $29.2M | $954 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.0M, expenses of $2.2M, and assets of $29.9M (revenue +1.6% year-over-year).
- 2022: Revenue of $2.0M, expenses of $2.3M, and assets of $30.0M (revenue -8.8% year-over-year).
- 2021: Revenue of $2.2M, expenses of $2.3M, and assets of $30.4M (revenue -25.7% year-over-year).
- 2020: Revenue of $2.9M, expenses of $2.3M, and assets of $30.6M (revenue +55.7% year-over-year).
- 2019: Revenue of $1.9M, expenses of $2.5M, and assets of $29.9M (revenue +281.5% year-over-year).
- 2015: Revenue of $491K, expenses of $1.9M, and assets of $31.9M (revenue -81.9% year-over-year).
- 2015: Revenue of $2.7M, expenses of $1.3M, and assets of $32.9M (revenue +132.4% year-over-year).
- 2014: Revenue of $1.2M, expenses of $1.1M, and assets of $31.5M (revenue -2.3% year-over-year).
- 2013: Revenue of $1.2M, expenses of $1.7M, and assets of $31.5M (revenue -66.3% year-over-year).
- 2012: Revenue of $3.5M, expenses of $663K, and assets of $32.1M (revenue +91.3% year-over-year).
- 2011: Revenue of $1.8M, expenses of $3.6M, and assets of $29.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Elgin Foundation:
Data Sources and Methodology
This transparency report for Elgin 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.