Frederick W Mccarthy Foundation
Frederick W Mccarthy Foundation's assets have declined by over 80% in a decade due to consistent deficit spending.
EIN: 117345034 · Washington, DC · Updated: 2026-03-28
Is Frederick W Mccarthy Foundation Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Frederick W Mccarthy Foundation directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Frederick W Mccarthy Foundation
Frederick W Mccarthy Foundation (EIN: 117345034) is a nonprofit organization based in Washington, DC. The organization reported total revenue of $43K and total assets of $139K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Frederick W Mccarthy Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Frederick W Mccarthy Foundation is a micro nonprofit that has been operating for 38 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 3.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $6K |
| Total Expenses | $35K |
| Surplus / Deficit | $-28,594 |
| Total Assets | $168K |
| Total Liabilities | $1 |
| Net Assets | $168K |
| Operating Margin | -477.0% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 58.1 months |
Financial Health Grade: B
In 2023, Frederick W Mccarthy Foundation reported a deficit of $29K with expenses exceeding revenue, holds 58.1 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), Frederick W Mccarthy Foundation's revenue has grown at a compound annual growth rate (CAGR) of 3.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +140.3% | +4.0% | -14.6% |
| 2022 | +45.8% | +106.6% | -13.6% |
| 2021 | +4073.2% | -23.8% | -6.0% |
| 2020 | -99.6% | -35.2% | -8.0% |
| 2019 | -69.6% | -68.1% | -59.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1988 |
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 Frederick W Mccarthy 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: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Frederick W Mccarthy Foundation allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $29K, 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 salaries are paid to executives, which is highly unusual for a foundation and suggests a volunteer-led or minimal operational 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 Frederick W Mccarthy Foundation's IRS 990 filings:
- Consistent and significant deficit spending, with expenses far exceeding revenue in most years (e.g., 2023 revenue $5,995 vs. expenses $34,589).
- Rapid depletion of assets, falling from $938,216 in 2011 to $167,573 in 2023, indicating an unsustainable financial trajectory.
- Lack of detailed expense breakdown in the provided data makes it difficult to assess specific spending efficiency beyond the overall deficit.
Strengths
The following positive indicators were identified for Frederick W Mccarthy Foundation:
- Consistent reporting of 0% officer compensation, indicating no executive salaries are paid.
- Low liabilities, consistently reported as $1 or $0, suggesting minimal debt burden.
Frequently Asked Questions about Frederick W Mccarthy Foundation
Is Frederick W Mccarthy Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Frederick W Mccarthy Foundation (EIN: 117345034) significant concerns. Mission Score: 40/100. 3 red flags identified, 2 strengths noted.
How does Frederick W Mccarthy Foundation spend its money?
Frederick W Mccarthy Foundation directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Frederick W Mccarthy Foundation tax-deductible?
Frederick W Mccarthy Foundation is registered as a tax-exempt nonprofit (EIN: 117345034). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does the Frederick W Mccarthy Foundation cover its significant annual deficits?
The foundation has been covering its deficits by drawing down its assets, which have decreased from $938,216 in 2011 to $167,573 in 2023.
What are the primary expenses of the foundation, given its low revenue and zero officer compensation?
Without detailed expense breakdowns in the provided data, it's difficult to pinpoint the exact nature of the expenses, but they consistently exceed revenue, indicating significant operational or programmatic costs.
Is the foundation's current financial model sustainable?
No, the current financial model is not sustainable. With expenses consistently far exceeding revenue and assets rapidly depleting, the foundation faces significant long-term viability challenges.
Filing History
IRS 990 filing history for Frederick W Mccarthy Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Frederick W Mccarthy Foundation's revenue has grown by 54.7%, moving from $4K to $6K. Total assets decreased by 82.1% over the same period, from $938K to $168K. Total functional expenses fell by 43.7%, from $61K to $35K. In its most recent filing year (2023), Frederick W Mccarthy Foundation reported a deficit of $29K, with expenses exceeding revenue. The organization holds $1 in liabilities against $168K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $168K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $6K | $35K | $168K | $1 | — | — |
| 2022 | $2K | $33K | $196K | $1 | — | View 990 |
| 2021 | $2K | $16K | $227K | $1 | — | — |
| 2020 | $41 | $21K | $241K | $1 | — | — |
| 2019 | $9K | $33K | $262K | $1 | — | View 990 |
| 2015 | $30K | $102K | $652K | $1 | — | View 990 |
| 2014 | $30K | $180K | $724K | $1 | — | View 990 |
| 2013 | $46K | $80K | $875K | $1 | — | View 990 |
| 2012 | $281K | $62K | $909K | $1 | — | View 990 |
| 2011 | $4K | $61K | $938K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $6K, expenses of $35K, and assets of $168K (revenue +140.3% year-over-year).
- 2022: Revenue of $2K, expenses of $33K, and assets of $196K (revenue +45.8% year-over-year).
- 2021: Revenue of $2K, expenses of $16K, and assets of $227K (revenue +4073.2% year-over-year).
- 2020: Revenue of $41, expenses of $21K, and assets of $241K (revenue -99.6% year-over-year).
- 2019: Revenue of $9K, expenses of $33K, and assets of $262K (revenue -69.6% year-over-year).
- 2015: Revenue of $30K, expenses of $102K, and assets of $652K (revenue +2.3% year-over-year).
- 2014: Revenue of $30K, expenses of $180K, and assets of $724K (revenue -35.0% year-over-year).
- 2013: Revenue of $46K, expenses of $80K, and assets of $875K (revenue -83.8% year-over-year).
- 2012: Revenue of $281K, expenses of $62K, and assets of $909K (revenue +7142.1% year-over-year).
- 2011: Revenue of $4K, expenses of $61K, and assets of $938K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Frederick W Mccarthy Foundation:
Data Sources and Methodology
This transparency report for Frederick W Mccarthy 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.