Elliotsville Foundation Inc
Elliotsville Foundation experiences deficit spending in recent years while assets decline significantly from historical highs.
EIN: 134223002 · Durham, NC · NTEE: C34 · Updated: 2026-03-28
Is Elliotsville Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Elliotsville Foundation Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Elliotsville Foundation Inc
Elliotsville Foundation Inc (EIN: 134223002) is a nonprofit organization based in Durham, NC, classified under NTEE code C34. The organization reported total revenue of $3.7M and total assets of $24.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Elliotsville Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Elliotsville Foundation Inc is a mid-size nonprofit that has been operating for 22 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 11.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $9.9M |
| Total Expenses | $15.9M |
| Surplus / Deficit | $-5,961,123 |
| Total Assets | $29.4M |
| Total Liabilities | $5K |
| Net Assets | $29.4M |
| Operating Margin | -60.0% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 22.2 months |
Financial Health Grade: B
In 2023, Elliotsville Foundation Inc reported a deficit of $6.0M with expenses exceeding revenue, holds 22.2 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), Elliotsville Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 11.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +12.8% | +51.4% | -16.9% |
| 2022 | +65.9% | +98.0% | -4.6% |
| 2021 | +77.5% | +48.4% | +0.0% |
| 2020 | +48.1% | +5.9% | -1.6% |
| 2019 | +23.7% | -24.0% | -71.3% |
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 Elliotsville Foundation Inc with a Mission Score of 75 out of 100 (Good). 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: 85%
- fundraising: 5%
According to IRS 990 filings, Elliotsville Foundation Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% 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 $6.0M, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that no officers receive compensation from the organization, which is highly favorable for donor perception and suggests efficient use of funds for its mission.
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 Elliotsville Foundation Inc's IRS 990 filings:
- Sustained deficit spending in recent years (2022, 2023) where expenses significantly exceeded revenue.
- Significant decline in total assets from over $134 million in 2014 to $29.39 million in 2023, warranting further explanation.
Strengths
The following positive indicators were identified for Elliotsville Foundation Inc:
- Consistent reporting of 0% officer compensation, indicating high efficiency in executive pay.
- Substantial asset base ($29.39 million in 2023) despite recent declines, providing a buffer for operations.
- Demonstrated ability to significantly increase revenue in recent years, from $2.98 million in 2020 to $9.93 million in 2023.
Frequently Asked Questions about Elliotsville Foundation Inc
Is Elliotsville Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Elliotsville Foundation Inc (EIN: 134223002) some concerns. Mission Score: 75/100. 2 red flags identified, 3 strengths noted.
How does Elliotsville Foundation Inc spend its money?
Elliotsville Foundation Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Elliotsville Foundation Inc tax-deductible?
Elliotsville Foundation Inc is registered as a tax-exempt nonprofit (EIN: 134223002). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Elliotsville Foundation Inc. financially sustainable given recent deficit spending?
The organization has reported expenses exceeding revenue in 2023 ($15.89M vs $9.93M) and 2022 ($10.50M vs $8.80M). While it has substantial assets ($29.39M in 2023), sustained deficit spending could impact long-term sustainability if not addressed by increased revenue or reduced expenses.
What caused the significant decline in assets from $134M in 2014 to $29M in 2023?
The substantial decrease in assets suggests either significant program spending, divestment of assets, or investment losses. Further investigation into the organization's financial statements would be needed to understand the specific reasons for this decline.
How does the organization fund its operations without officer compensation?
The consistent 0% officer compensation suggests that leadership may be volunteer-based, compensated by a related entity, or that the organization operates with a very lean administrative structure. This is a positive sign for efficiency.
Filing History
IRS 990 filing history for Elliotsville Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Elliotsville Foundation Inc's revenue has grown by 268.2%, moving from $2.7M to $9.9M. Total assets decreased by 77% over the same period, from $127.6M to $29.4M. Total functional expenses rose by 622.2%, from $2.2M to $15.9M. In its most recent filing year (2023), Elliotsville Foundation Inc reported a deficit of $6.0M, with expenses exceeding revenue. The organization holds $5K in liabilities against $29.4M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $29.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $9.9M | $15.9M | $29.4M | $5K | — | — |
| 2022 | $8.8M | $10.5M | $35.4M | $5K | — | View 990 |
| 2021 | $5.3M | $5.3M | $37.1M | $7K | — | View 990 |
| 2020 | $3.0M | $3.6M | $37.0M | $7K | — | View 990 |
| 2019 | $2.0M | $3.4M | $37.6M | $7K | — | View 990 |
| 2015 | $1.6M | $4.4M | $131.3M | $1 | — | View 990 |
| 2014 | $4.9M | $2.3M | $134.1M | $1 | — | View 990 |
| 2013 | $4.6M | $2.2M | $131.6M | $1 | — | View 990 |
| 2012 | $3.8M | $2.2M | $129.1M | $1 | — | View 990 |
| 2011 | $2.7M | $2.2M | $127.6M | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $9.9M, expenses of $15.9M, and assets of $29.4M (revenue +12.8% year-over-year).
- 2022: Revenue of $8.8M, expenses of $10.5M, and assets of $35.4M (revenue +65.9% year-over-year).
- 2021: Revenue of $5.3M, expenses of $5.3M, and assets of $37.1M (revenue +77.5% year-over-year).
- 2020: Revenue of $3.0M, expenses of $3.6M, and assets of $37.0M (revenue +48.1% year-over-year).
- 2019: Revenue of $2.0M, expenses of $3.4M, and assets of $37.6M (revenue +23.7% year-over-year).
- 2015: Revenue of $1.6M, expenses of $4.4M, and assets of $131.3M (revenue -66.7% year-over-year).
- 2014: Revenue of $4.9M, expenses of $2.3M, and assets of $134.1M (revenue +6.5% year-over-year).
- 2013: Revenue of $4.6M, expenses of $2.2M, and assets of $131.6M (revenue +21.9% year-over-year).
- 2012: Revenue of $3.8M, expenses of $2.2M, and assets of $129.1M (revenue +39.8% year-over-year).
- 2011: Revenue of $2.7M, expenses of $2.2M, and assets of $127.6M.
Data Sources and Methodology
This transparency report for Elliotsville 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.