Eliots Purse Foundation
Eliots Purse Foundation faces significant financial challenges with consistent operating deficits and declining assets.
EIN: 205688921 · Vicksburg, MS · NTEE: T22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $7K |
| Total Expenses | $35K |
| Program Spending | 75% |
| Net Assets | $34K |
| Transparency Score | 40/100 |
Is Eliots Purse Foundation Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Eliots Purse Foundation directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Eliots Purse Foundation
Eliots Purse Foundation (EIN: 205688921) is a nonprofit organization based in Vicksburg, MS, classified under NTEE code T22. The organization reported total revenue of $7K and total assets of $34K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Eliots Purse Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Eliots Purse Foundation is a micro 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 -12.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $3K |
| Total Expenses | $35K |
| Surplus / Deficit | $-32,940 |
| Total Assets | $34K |
| Total Liabilities | $1 |
| Net Assets | $34K |
| Operating Margin | -1317.6% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 11.4 months |
Financial Health Grade: B
In 2023, Eliots Purse Foundation reported a deficit of $33K with expenses exceeding revenue, holds 11.4 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Eliots Purse Foundation's revenue has declined at a compound annual growth rate (CAGR) of -12.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -87.8% | +7.6% | -49.5% |
| 2022 | +645.5% | +157.6% | -15.7% |
| 2021 | -82.8% | -56.9% | -11.3% |
| 2020 | +126.0% | +11.9% | -13.3% |
| 2019 | -72.8% | -39.9% | -43.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| 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 Eliots Purse Foundation with a Mission Score of 40 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: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Eliots Purse Foundation allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% 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 $33K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no executive salaries are paid, which is a positive for resource allocation given its small size and financial struggles.
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 Eliots Purse Foundation's IRS 990 filings:
- Consistent operating deficits (expenses exceeding revenue) in recent years, e.g., $35,440 expenses vs. $2,500 revenue in 2023.
- Significant decline in total assets from $200,914 in 2014 to $33,650 in 2023.
- Low and highly fluctuating annual revenue, making financial planning difficult.
- Current assets ($33,650) are barely sufficient to cover recent annual expenses ($35,440 in 2023).
Strengths
The following positive indicators were identified for Eliots Purse Foundation:
- Consistent reporting of 0% officer compensation, indicating no executive salaries.
- Regular filing of IRS Form 990s, demonstrating transparency in reporting.
Frequently Asked Questions about Eliots Purse Foundation
Is Eliots Purse Foundation a legitimate charity?
Eliots Purse Foundation (EIN: 205688921) is a registered tax-exempt nonprofit based in Mississippi. Our AI analysis gives it a Mission Score of 40/100. It has 10 years of IRS 990 filings on record. Total revenue: $7K. 4 red flags identified. 2 strengths noted. Financial health grade: B.
How does Eliots Purse Foundation spend its money?
Eliots Purse Foundation directs 75% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Eliots Purse Foundation tax-deductible?
Eliots Purse Foundation is registered as a tax-exempt nonprofit (EIN: 205688921). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Eliots Purse Foundation's spending goes to programs?
Eliots Purse Foundation directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Eliots Purse Foundation compare to similar nonprofits?
With a transparency score of 40/100 (Fair), Eliots Purse Foundation is near average for NTEE category T22 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Eliots Purse Foundation located?
Eliots Purse Foundation is headquartered in Vicksburg, Mississippi and files with the IRS under EIN 205688921. It is classified under NTEE code T22.
How many years of IRS 990 filings does Eliots Purse Foundation have?
Eliots Purse Foundation 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 $7K in total revenue.
Is Eliots Purse Foundation financially sustainable?
Based on the data, the foundation's financial sustainability is questionable. It has consistently spent more than it earned in recent years (e.g., $35,440 expenses vs. $2,500 revenue in 2023), leading to a significant decline in assets from $200,914 in 2014 to $33,650 in 2023.
What caused the significant decline in assets?
The decline in assets appears to be primarily driven by the organization's consistent operating deficits, where annual expenses have frequently exceeded annual revenues over the past decade, forcing it to draw down its reserves.
How does the organization fund its operations with such low revenue?
With revenue often significantly lower than expenses (e.g., $2,500 revenue vs. $35,440 expenses in 2023), the organization has been funding its operations by liquidating its assets, as evidenced by the substantial decrease in total assets over time.
What is the organization's current financial health?
Eliots Purse Foundation's current financial health is poor, characterized by low revenue ($2,500 in 2023), high expenses relative to revenue ($35,440 in 2023), and a significantly depleted asset base ($33,650 in 2023) compared to historical levels.
Filing History
IRS 990 filing history for Eliots Purse Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Eliots Purse Foundation's revenue has declined by 80.2%, moving from $13K to $3K. Total assets decreased by 74% over the same period, from $129K to $34K. Total functional expenses fell by 12.1%, from $40K to $35K. In its most recent filing year (2023), Eliots Purse Foundation reported a deficit of $33K, with expenses exceeding revenue. The organization holds $1 in liabilities against $34K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $34K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $3K | $35K | $34K | $1 | — | — |
| 2022 | $21K | $33K | $67K | $1 | — | — |
| 2021 | $3K | $13K | $79K | $1 | — | — |
| 2020 | $16K | $30K | $89K | $1 | — | — |
| 2019 | $7K | $27K | $103K | $1 | — | View 990 |
| 2015 | $26K | $44K | $183K | $1 | — | View 990 |
| 2014 | $118K | $57K | $201K | $1 | — | View 990 |
| 2013 | $134K | $78K | $140K | $1 | — | View 990 |
| 2012 | $13K | $58K | $84K | $0 | — | View 990 |
| 2011 | $13K | $40K | $129K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $3K, expenses of $35K, and assets of $34K (revenue -87.8% year-over-year).
- 2022: Revenue of $21K, expenses of $33K, and assets of $67K (revenue +645.5% year-over-year).
- 2021: Revenue of $3K, expenses of $13K, and assets of $79K (revenue -82.8% year-over-year).
- 2020: Revenue of $16K, expenses of $30K, and assets of $89K (revenue +126.0% year-over-year).
- 2019: Revenue of $7K, expenses of $27K, and assets of $103K (revenue -72.8% year-over-year).
- 2015: Revenue of $26K, expenses of $44K, and assets of $183K (revenue -78.0% year-over-year).
- 2014: Revenue of $118K, expenses of $57K, and assets of $201K (revenue -11.7% year-over-year).
- 2013: Revenue of $134K, expenses of $78K, and assets of $140K (revenue +948.7% year-over-year).
- 2012: Revenue of $13K, expenses of $58K, and assets of $84K (revenue +1.1% year-over-year).
- 2011: Revenue of $13K, expenses of $40K, and assets of $129K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Eliots Purse Foundation:
Data Sources and Methodology
This transparency report for Eliots Purse 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.