Gelco Charitable Foundation
Gelco Charitable Foundation maintains strong assets and zero executive compensation, with recent revenue surge.
EIN: 203818744 · Wilmington, DE · NTEE: T20 · Updated: 2026-03-28
Is Gelco Charitable Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Gelco Charitable Foundation directs 95% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Gelco Charitable Foundation
Gelco Charitable Foundation (EIN: 203818744) is a nonprofit organization based in Wilmington, DE, classified under NTEE code T20. The organization reported total revenue of $18.8M and total assets of $6.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Gelco Charitable Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Gelco Charitable Foundation is a large nonprofit that has been operating for 20 years, with 8 years of IRS 990 filings on record (2011–2021). Revenue has grown at a compound annual rate of 12.8%.
Key Financial Metrics (2021)
From the most recent IRS 990 filing on record:
| Total Revenue | $862K |
| Total Expenses | $360K |
| Surplus / Deficit | +$502K |
| Total Assets | $7.0M |
| Total Liabilities | $1 |
| Net Assets | $7.0M |
| Operating Margin | 58.2% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 234.9 months |
Financial Health Grade: A
In 2021, Gelco Charitable Foundation reported a surplus of $502K with revenue exceeding expenses, holds 234.9 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 8 years of filings (2011–2021), Gelco Charitable Foundation's revenue has grown at a compound annual growth rate (CAGR) of 12.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2021 | +348.5% | +31.4% | +7.7% |
| 2020 | -84.9% | -14.3% | -1.2% |
| 2019 | +183.0% | +65.0% | +47.1% |
| 2015 | -45.1% | +9.6% | +6.1% |
| 2014 | +27.0% | +20.2% | +17.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2006 |
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 Gelco Charitable Foundation with a Mission Score of 92 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: 95%
- fundraising: 0%
According to IRS 990 filings, Gelco Charitable Foundation allocates its expenses as follows: admin: 5%, programs: 95%, fundraising: 0%. With 95% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2021)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $502K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officer salaries are paid, which is highly commendable for a foundation of its size and asset base.
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 Gelco Charitable Foundation's IRS 990 filings:
- Consistently reported $1 in liabilities across all filings, which is unusual and may require further clarification.
Strengths
The following positive indicators were identified for Gelco Charitable Foundation:
- Consistent 0% officer compensation across all filings, indicating strong commitment to mission.
- Healthy and growing asset base, increasing from $2.8M in 2011 to $7M in 2021, demonstrating financial stability.
- Low expense ratios relative to revenue, suggesting efficient operations (e.g., 2021 expenses were 41.7% of revenue).
- Strong program focus, with virtually all spending directed towards charitable activities due to minimal overhead.
- Consistent IRS 990 filing history, indicating good transparency and compliance.
Frequently Asked Questions about Gelco Charitable Foundation
Is Gelco Charitable Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Gelco Charitable Foundation (EIN: 203818744) some concerns. Mission Score: 92/100. 1 red flag identified, 5 strengths noted.
How does Gelco Charitable Foundation spend its money?
Gelco Charitable Foundation directs 95% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Gelco Charitable Foundation tax-deductible?
Gelco Charitable Foundation is registered as a tax-exempt nonprofit (EIN: 203818744). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Gelco Charitable Foundation a good charity?
Based on its financial data, Gelco Charitable Foundation appears to be a very good charity. It demonstrates strong financial health, efficient spending with low expenses relative to revenue (e.g., $359,855 expenses on $861,522 revenue in 2021), and a commitment to its mission by reporting 0% officer compensation.
What is the primary use of Gelco Charitable Foundation's funds?
As a private grantmaking foundation (NTEE T20), the primary use of its funds is likely making grants to other charitable organizations. The low expense ratios and absence of officer compensation suggest that the vast majority of its expenditures are direct program-related grants.
Why are liabilities consistently reported as $1?
The consistent reporting of $1 in liabilities across all filings is unusual for an organization of this size. While it could indicate a very clean balance sheet with virtually no outstanding debts, it might also warrant further scrutiny to ensure all financial obligations are fully and accurately disclosed.
Filing History
IRS 990 filing history for Gelco Charitable Foundation showing financial trends over 8 years of public records:
Over 8 years of IRS 990 filings (2011–2021), Gelco Charitable Foundation's revenue has grown by 233.8%, moving from $258K to $862K. Total assets increased by 147.5% over the same period, from $2.8M to $7.0M. Total functional expenses rose by 240.9%, from $106K to $360K. In its most recent filing year (2021), Gelco Charitable Foundation reported a surplus of $502K, with revenue exceeding expenses. The organization holds $1 in liabilities against $7.0M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $7.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2021 | $862K | $360K | $7.0M | $1 | — | View 990 |
| 2020 | $192K | $274K | $6.5M | $1 | — | — |
| 2019 | $1.3M | $319K | $6.6M | $1 | — | — |
| 2015 | $451K | $194K | $4.5M | $1 | — | View 990 |
| 2014 | $821K | $177K | $4.2M | $1 | — | View 990 |
| 2013 | $646K | $147K | $3.6M | $1 | — | View 990 |
| 2012 | $397K | $141K | $3.1M | $1 | — | View 990 |
| 2011 | $258K | $106K | $2.8M | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2021: Revenue of $862K, expenses of $360K, and assets of $7.0M (revenue +348.5% year-over-year).
- 2020: Revenue of $192K, expenses of $274K, and assets of $6.5M (revenue -84.9% year-over-year).
- 2019: Revenue of $1.3M, expenses of $319K, and assets of $6.6M (revenue +183.0% year-over-year).
- 2015: Revenue of $451K, expenses of $194K, and assets of $4.5M (revenue -45.1% year-over-year).
- 2014: Revenue of $821K, expenses of $177K, and assets of $4.2M (revenue +27.0% year-over-year).
- 2013: Revenue of $646K, expenses of $147K, and assets of $3.6M (revenue +62.8% year-over-year).
- 2012: Revenue of $397K, expenses of $141K, and assets of $3.1M (revenue +53.8% year-over-year).
- 2011: Revenue of $258K, expenses of $106K, and assets of $2.8M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Gelco Charitable Foundation:
Data Sources and Methodology
This transparency report for Gelco Charitable 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.