Genworth Foundation
Genworth Foundation shows highly variable revenue but consistent zero executive compensation.
EIN: 203370235 · Glen Allen, VA · NTEE: T20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $3.1M |
| Total Expenses | $2.9M |
| Program Spending | 90% |
| Net Assets | $2.7M |
| Transparency Score | 85/100 |
Is Genworth Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Genworth Foundation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Genworth Foundation
Genworth Foundation (EIN: 203370235) is a nonprofit organization based in Glen Allen, VA, classified under NTEE code T20. The organization reported total revenue of $3.1M and total assets of $3.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Genworth Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Genworth Foundation is a mid-size nonprofit that has been operating for 21 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -2.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $3.2M |
| Total Expenses | $2.9M |
| Surplus / Deficit | +$248K |
| Total Assets | $2.7M |
| Total Liabilities | $53K |
| Net Assets | $2.7M |
| Operating Margin | 7.9% |
| Debt-to-Asset Ratio | 2.0% |
| Months of Reserves | 11.2 months |
Financial Health Grade: A
In 2023, Genworth Foundation reported a surplus of $248K with revenue exceeding expenses, holds 11.2 months of operating reserves (strong position), has a debt-to-asset ratio of 2.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Genworth Foundation's revenue has declined at a compound annual growth rate (CAGR) of -2.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +3777.3% | +88.9% | +12.2% |
| 2022 | +10047.1% | -1.7% | -37.8% |
| 2021 | -96.0% | -22.9% | -28.8% |
| 2020 | -99.8% | -27.7% | -27.0% |
| 2019 | +242.4% | -11.8% | +354.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2005 |
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 Genworth Foundation with a Mission Score of 85 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: 7%
- programs: 90%
- fundraising: 3%
According to IRS 990 filings, Genworth Foundation allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. With 90% 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 surplus of $248K, with revenue exceeding expenses.
- Debt-to-asset ratio: 2.0%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that no officers receive salaries from the foundation, which is highly efficient for an organization of its size and revenue fluctuations.
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 Genworth Foundation's IRS 990 filings:
- Highly volatile revenue streams, making long-term financial planning challenging.
- Significant asset decline from 201912 ($7,461,492) to 202312 ($2,707,805).
Strengths
The following positive indicators were identified for Genworth Foundation:
- Consistent 0% officer compensation, indicating high efficiency and dedication of funds to mission.
- Latest filing (202312) shows a positive net income ($3,155,368 revenue vs. $2,907,594 expenses).
- Strong program focus due to minimal administrative overhead from executive salaries.
Frequently Asked Questions about Genworth Foundation
Is Genworth Foundation a legitimate charity?
Genworth Foundation (EIN: 203370235) is a registered tax-exempt nonprofit based in Virginia. Our AI analysis gives it a Mission Score of 85/100. It has 10 years of IRS 990 filings on record. Total revenue: $3.1M. 2 red flags identified. 3 strengths noted. Financial health grade: A.
How does Genworth Foundation spend its money?
Genworth Foundation directs 90% of its spending to programs and services. Fundraising costs 3%. This exceeds the 65% industry benchmark.
Are donations to Genworth Foundation tax-deductible?
Genworth Foundation is registered as a tax-exempt nonprofit (EIN: 203370235). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Genworth Foundation's spending goes to programs?
Genworth Foundation directs 90% to programs, 3% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Genworth Foundation compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Genworth Foundation is above average for NTEE category T20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Genworth Foundation located?
Genworth Foundation is headquartered in Glen Allen, Virginia and files with the IRS under EIN 203370235. It is classified under NTEE code T20.
How many years of IRS 990 filings does Genworth Foundation have?
Genworth Foundation has 10 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $3.1M in total revenue.
Is Genworth Foundation a good charity?
Based on the consistent 0% officer compensation and the latest filing showing a surplus of revenue over expenses ($3,155,368 revenue vs. $2,907,594 expenses in 202312), the foundation appears to be financially responsible and efficient in its operations. However, the significant revenue volatility could pose long-term sustainability challenges.
How does Genworth Foundation manage its finances given the revenue fluctuations?
The foundation appears to manage its finances by adapting to highly variable revenue streams. For example, in 202212, with only $81,380 in revenue, it still incurred $1,539,260 in expenses, likely drawing from reserves built during higher revenue periods like 201912 ($8,115,981 revenue). The consistent 0% officer compensation helps maintain low fixed costs.
What is the trend in Genworth Foundation's assets?
The foundation's assets have shown a declining trend in recent years, from a peak of $7,461,492 in 201912 to $2,707,805 in 202312, after a low of $2,412,831 in 202212. This suggests that expenses have often outpaced revenue in certain periods, leading to a draw-down on reserves.
Filing History
IRS 990 filing history for Genworth Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Genworth Foundation's revenue has declined by 29.9%, moving from $4.5M to $3.2M. Total assets decreased by 45.4% over the same period, from $5.0M to $2.7M. Total functional expenses fell by 17.9%, from $3.5M to $2.9M. In its most recent filing year (2023), Genworth Foundation reported a surplus of $248K, with revenue exceeding expenses. The organization holds $53K in liabilities against $2.7M in assets (debt-to-asset ratio: 2.0%), resulting in net assets of $2.7M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $3.2M | $2.9M | $2.7M | $53K | — | — |
| 2022 | $81K | $1.5M | $2.4M | $6K | — | View 990 |
| 2021 | $802 | $1.6M | $3.9M | $13K | — | View 990 |
| 2020 | $20K | $2.0M | $5.4M | $13K | — | View 990 |
| 2019 | $8.1M | $2.8M | $7.5M | $18K | — | View 990 |
| 2015 | $2.4M | $3.2M | $1.6M | $68K | — | View 990 |
| 2014 | $4.6M | $3.5M | $4.8M | $2.4M | — | View 990 |
| 2013 | $3.5M | $3.6M | $1.6M | $327K | — | View 990 |
| 2012 | $338 | $3.2M | $2.0M | $617K | — | View 990 |
| 2011 | $4.5M | $3.5M | $5.0M | $438K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $3.2M, expenses of $2.9M, and assets of $2.7M (revenue +3777.3% year-over-year).
- 2022: Revenue of $81K, expenses of $1.5M, and assets of $2.4M (revenue +10047.1% year-over-year).
- 2021: Revenue of $802, expenses of $1.6M, and assets of $3.9M (revenue -96.0% year-over-year).
- 2020: Revenue of $20K, expenses of $2.0M, and assets of $5.4M (revenue -99.8% year-over-year).
- 2019: Revenue of $8.1M, expenses of $2.8M, and assets of $7.5M (revenue +242.4% year-over-year).
- 2015: Revenue of $2.4M, expenses of $3.2M, and assets of $1.6M (revenue -48.7% year-over-year).
- 2014: Revenue of $4.6M, expenses of $3.5M, and assets of $4.8M (revenue +31.8% year-over-year).
- 2013: Revenue of $3.5M, expenses of $3.6M, and assets of $1.6M (revenue +1036472.5% year-over-year).
- 2012: Revenue of $338, expenses of $3.2M, and assets of $2.0M (revenue -100.0% year-over-year).
- 2011: Revenue of $4.5M, expenses of $3.5M, and assets of $5.0M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Genworth Foundation:
Data Sources and Methodology
This transparency report for Genworth 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.