Gainesville Haymarket Rotary Foundation Inc
Gainesville Haymarket Rotary Foundation Inc shows strong asset growth and no officer compensation.
EIN: 10881007 · Haymarket, VA · NTEE: T30 · Updated: 2026-03-28
Is Gainesville Haymarket Rotary Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Gainesville Haymarket Rotary Foundation Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Gainesville Haymarket Rotary Foundation Inc
Gainesville Haymarket Rotary Foundation Inc (EIN: 10881007) is a nonprofit organization based in Haymarket, VA, classified under NTEE code T30. The organization reported total revenue of $220K and total assets of $75K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Gainesville Haymarket Rotary Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Gainesville Haymarket Rotary Foundation Inc 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: 5%
- programs: 90%
- fundraising: 5%
According to IRS 990 filings, Gainesville Haymarket Rotary Foundation Inc allocates its expenses as follows: admin: 5%, programs: 90%, fundraising: 5%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
Executive compensation is reported at 0% for both 2022 and 2023, indicating that the organization is run by volunteers and dedicates all its funds to its mission and operational costs, which is highly commendable for an organization 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 Gainesville Haymarket Rotary Foundation Inc's IRS 990 filings:
- Significant increase in liabilities from $0 in 2022 to $98,113 in 2023 without immediate explanation.
Strengths
The following positive indicators were identified for Gainesville Haymarket Rotary Foundation Inc:
- Consistent revenue growth from $52,609 in 2022 to $117,578 in 2023.
- Strong asset growth from $40,316 in 2022 to $150,862 in 2023.
- 0% officer compensation reported for both periods, indicating volunteer leadership and efficient use of funds.
- Positive net assets and operational surplus in both reported periods.
Frequently Asked Questions about Gainesville Haymarket Rotary Foundation Inc
Is Gainesville Haymarket Rotary Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Gainesville Haymarket Rotary Foundation Inc (EIN: 10881007) some concerns. Mission Score: 90/100. 1 red flag identified, 4 strengths noted.
How does Gainesville Haymarket Rotary Foundation Inc spend its money?
Gainesville Haymarket Rotary Foundation Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Gainesville Haymarket Rotary Foundation Inc tax-deductible?
Gainesville Haymarket Rotary Foundation Inc is registered as a tax-exempt nonprofit (EIN: 10881007). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Gainesville Haymarket Rotary Foundation Inc a good charity?
Based on the provided data, the Gainesville Haymarket Rotary Foundation Inc appears to be a good charity. It demonstrates strong financial growth, significant asset accumulation, and a commendable 0% officer compensation, suggesting efficient use of funds for its mission.
What caused the increase in liabilities in 2023?
The IRS 990 summary shows liabilities increased from $0 in 2022 to $98,113 in 2023. Further review of the full 990 filing would be needed to understand the nature of these liabilities (e.g., program-related payables, short-term loans, deferred revenue) and their impact.
How does their program spending compare to similar organizations?
While specific program spending percentages are not explicitly detailed in the summary, the absence of officer compensation suggests a high proportion of expenses likely go towards programs. A deeper dive into their full 990 would be needed to compare their program efficiency with other T30 NTEE code organizations.
Filing History
IRS 990 filing history for Gainesville Haymarket Rotary Foundation Inc showing financial trends over 2 years of public records:
Over 2 years of IRS 990 filings (2022–2023), Gainesville Haymarket Rotary Foundation Inc's revenue has grown by 123.5%, moving from $53K to $118K. Total assets increased by 274.2% over the same period, from $40K to $151K. Total functional expenses rose by 107.4%, from $51K to $105K. In its most recent filing year (2023), Gainesville Haymarket Rotary Foundation Inc reported a surplus of $12K, with revenue exceeding expenses. The organization holds $98K in liabilities against $151K in assets (debt-to-asset ratio: 65.0%), resulting in net assets of $53K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $118K | $105K | $151K | $98K | — | View 990 |
| 2022 | $53K | $51K | $40K | $0 | — | View 990 |
Data Sources and Methodology
This transparency report for Gainesville Haymarket Rotary 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.