Elster Foundation

Elster Foundation consistently spends more than it earns, drawing down its asset base.

EIN: 166054742 · Martinsville, VA · Updated: 2026-03-28

$1.0MRevenue

$4.0MAssets

65/100Mission Score (Good)

About Elster Foundation

Elster Foundation (EIN: 166054742) is a nonprofit organization based in Martinsville, VA. The organization reported total revenue of $1.0M and total assets of $4.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Elster Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

The Elster Foundation demonstrates consistent financial transparency through its regular IRS 990 filings, with 10 filings available. However, the organization has shown a trend of spending exceeding revenue in recent years, particularly from 2021 to 2023. For example, in 2023, expenses were $382,292 against revenues of $238,207, and in 2022, expenses were $405,173 against revenues of $189,681. This consistent deficit spending has led to a gradual decline in assets, from $5,870,229 in 2013 to $4,004,970 in 2023. While the foundation maintains substantial assets, this pattern of drawing down its endowment to cover operational costs is a key financial health indicator to monitor.

The organization's spending efficiency is difficult to fully assess without a detailed breakdown of program, administrative, and fundraising expenses, which is not provided in the summary data. However, the absence of reported officer compensation (0% in all filings) suggests a lean operational structure at the executive level. The foundation's ability to sustain its mission long-term will depend on either increasing its revenue streams or adjusting its spending to align more closely with its income, to prevent further erosion of its asset base.

Overall, the Elster Foundation appears transparent in its reporting, but its financial sustainability is a concern due to persistent operating deficits. The significant asset base provides a buffer, but the trend of declining assets due to expenses consistently outpacing revenue warrants attention. Further analysis of the functional expense breakdown would provide a clearer picture of spending efficiency.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Elster Foundation with a Mission Score of 65 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: 20%
programs: 70%
fundraising: 10%

According to IRS 990 filings, Elster Foundation allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.

Executive Compensation Analysis

Executive compensation is reported as 0% in all available filings, indicating that no officer salaries are paid, which is highly unusual for an organization of this asset size and suggests a volunteer-led or very lean executive structure.

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 Elster Foundation's IRS 990 filings:

Consistent operating deficits: Expenses have exceeded revenue in most recent years (e.g., 2021-2023), leading to asset depletion.
Declining asset base: Assets have decreased from $5,870,229 in 2013 to $4,004,970 in 2023, indicating unsustainable spending relative to income.
Lack of detailed functional expense breakdown in provided data, making it difficult to assess program efficiency accurately.

Strengths

The following positive indicators were identified for Elster Foundation:

Strong asset base: Despite declines, the foundation still holds nearly $4 million in assets, providing a significant financial buffer.
Consistent IRS 990 filing history: 10 filings demonstrate a commitment to transparency.
No reported officer compensation: Suggests a lean executive structure or volunteer leadership, potentially reducing administrative overhead.

Frequently Asked Questions about Elster Foundation

How does Elster Foundation cover its consistent operating deficits?

The foundation appears to cover its operating deficits by drawing down its assets. For instance, in 2023, expenses ($382,292) exceeded revenue ($238,207) by $144,085, and total assets decreased from $4,149,063 in 2022 to $4,004,970 in 2023.

What is the long-term sustainability outlook for Elster Foundation given its financial trends?

The long-term sustainability is a concern if the trend of expenses consistently exceeding revenue continues. While the foundation has substantial assets ($3,998,278), a continuous draw-down will eventually deplete its endowment, impacting its ability to fund future activities.

Why is officer compensation consistently reported as 0%?

A consistent 0% officer compensation suggests that the foundation's officers are either unpaid volunteers or that their compensation is reported under other expense categories, which would require further investigation of the detailed 990 forms to confirm.

Filing History

IRS 990 filing history for Elster Foundation showing financial trends over 10 years of public records:

Over 10 years of IRS 990 filings (2011–2023), Elster Foundation's revenue has grown by 120.2%, moving from $108K to $238K. Total assets decreased by 24.4% over the same period, from $5.3M to $4.0M. Total functional expenses fell by 1.1%, from $386K to $382K. In its most recent filing year (2023), Elster Foundation reported a deficit of $144K, with expenses exceeding revenue. The organization holds $1 in liabilities against $4.0M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $4.0M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$238K	$382K	$4.0M	$1	—	View 990
2022	$190K	$405K	$4.1M	$1	—	View 990
2021	$177K	$341K	$4.4M	$1	—	—
2020	$563K	$216K	$4.5M	$1	—	—
2019	$87K	$220K	$4.2M	$1	—	View 990
2015	$294K	$398K	$4.9M	$1	—	View 990
2014	$534K	$428K	$5.6M	$1	—	View 990
2013	$375K	$396K	$5.9M	$1	—	View 990
2012	$191K	$385K	$5.4M	$1	—	View 990
2011	$108K	$386K	$5.3M	$1	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $238K, expenses of $382K, and assets of $4.0M (revenue +25.6% year-over-year).
2022: Revenue of $190K, expenses of $405K, and assets of $4.1M (revenue +7.4% year-over-year).
2021: Revenue of $177K, expenses of $341K, and assets of $4.4M (revenue -68.6% year-over-year).
2020: Revenue of $563K, expenses of $216K, and assets of $4.5M (revenue +545.6% year-over-year).
2019: Revenue of $87K, expenses of $220K, and assets of $4.2M (revenue -70.3% year-over-year).
2015: Revenue of $294K, expenses of $398K, and assets of $4.9M (revenue -45.0% year-over-year).
2014: Revenue of $534K, expenses of $428K, and assets of $5.6M (revenue +42.5% year-over-year).
2013: Revenue of $375K, expenses of $396K, and assets of $5.9M (revenue +96.6% year-over-year).
2012: Revenue of $191K, expenses of $385K, and assets of $5.4M (revenue +76.2% year-over-year).
2011: Revenue of $108K, expenses of $386K, and assets of $5.3M.

Data Sources and Methodology

This transparency report for Elster 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.