Gerald And Janet Carrus Foundation
Gerald And Janet Carrus Foundation consistently operates at a deficit, depleting assets by over $7 million in 12 years.
EIN: 133929249 · Wilmington, DE · NTEE: T60Z · Updated: 2026-03-28
Is Gerald And Janet Carrus Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Gerald And Janet Carrus Foundation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Gerald And Janet Carrus Foundation
Gerald And Janet Carrus Foundation (EIN: 133929249) is a nonprofit organization based in Wilmington, DE, classified under NTEE code T60Z. The organization reported total revenue of $764K and total assets of $2.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Gerald And Janet Carrus Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Gerald And Janet Carrus Foundation is a small nonprofit that has been operating for 29 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -6.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $331K |
| Total Expenses | $1.4M |
| Surplus / Deficit | $-1,115,430 |
| Total Assets | $3.2M |
| Total Liabilities | $1 |
| Net Assets | $3.2M |
| Operating Margin | -337.0% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 26.4 months |
Financial Health Grade: B
In 2023, Gerald And Janet Carrus Foundation reported a deficit of $1.1M with expenses exceeding revenue, holds 26.4 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), Gerald And Janet Carrus Foundation's revenue has declined at a compound annual growth rate (CAGR) of -6.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +65.3% | +17.1% | -26.0% |
| 2022 | -52.7% | +3.0% | -19.4% |
| 2020 | -223.5% | -1.0% | -23.9% |
| 2019 | -82.8% | -54.3% | +31.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1997 |
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 Gerald And Janet Carrus Foundation with a Mission Score of 55 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: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Gerald And Janet Carrus Foundation allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. 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 deficit of $1.1M, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that no salaries are paid to officers, which is highly efficient for a foundation of this 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 Gerald And Janet Carrus Foundation's IRS 990 filings:
- Consistent and significant operating deficits (e.g., $1,115,430 in 2023).
- Steady and substantial decline in total assets over time (from $10.3M in 2011 to $3.18M in 2023).
- Revenue consistently insufficient to cover expenses across multiple years.
Strengths
The following positive indicators were identified for Gerald And Janet Carrus Foundation:
- Zero officer compensation reported across all filings, indicating efficient use of funds for executive pay.
- Low liabilities reported ($1 in recent years), suggesting minimal debt burden.
Frequently Asked Questions about Gerald And Janet Carrus Foundation
Is Gerald And Janet Carrus Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Gerald And Janet Carrus Foundation (EIN: 133929249) some concerns. Mission Score: 55/100. 3 red flags identified, 2 strengths noted.
How does Gerald And Janet Carrus Foundation spend its money?
Gerald And Janet Carrus Foundation directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Gerald And Janet Carrus Foundation tax-deductible?
Gerald And Janet Carrus Foundation is registered as a tax-exempt nonprofit (EIN: 133929249). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is the Gerald And Janet Carrus Foundation financially sustainable?
Based on the consistent and significant operating deficits (e.g., $1,115,430 in 2023) and the steady decline in assets from over $10 million in 2011 to $3.18 million in 2023, the current financial model does not appear sustainable in the long term without a significant increase in revenue or reduction in expenses.
What is causing the decline in assets?
The decline in assets is primarily due to the foundation's expenses consistently exceeding its revenue. For example, in 2023, expenses were $1,446,461 while revenue was only $331,031, indicating that the foundation is spending down its principal to cover its operational and grant-making costs.
How does the foundation fund its activities?
Given the consistent deficits, the foundation appears to be funding its activities by drawing down its endowment or investment principal, as evidenced by the substantial decrease in total assets over the past decade.
Filing History
IRS 990 filing history for Gerald And Janet Carrus Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Gerald And Janet Carrus Foundation's revenue has declined by 52.5%, moving from $697K to $331K. Total assets decreased by 69.2% over the same period, from $10.3M to $3.2M. Total functional expenses rose by 152.5%, from $573K to $1.4M. In its most recent filing year (2023), Gerald And Janet Carrus Foundation reported a deficit of $1.1M, with expenses exceeding revenue. The organization holds $1 in liabilities against $3.2M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $3.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $331K | $1.4M | $3.2M | $1 | — | — |
| 2022 | $200K | $1.2M | $4.3M | $1 | — | View 990 |
| 2021 | $424K | $1.2M | $5.3M | $1 | — | View 990 |
| 2020 | $-344,100 | $1.6M | $6.1M | $1 | — | — |
| 2019 | $279K | $1.6M | $8.0M | $0 | — | View 990 |
| 2015 | $1.6M | $3.5M | $6.1M | $1 | — | View 990 |
| 2014 | $1.4M | $3.1M | $8.0M | $0 | — | View 990 |
| 2013 | $1.2M | $1.7M | $9.6M | $0 | — | View 990 |
| 2012 | $396K | $638K | $10.1M | $0 | — | View 990 |
| 2011 | $697K | $573K | $10.3M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $331K, expenses of $1.4M, and assets of $3.2M (revenue +65.3% year-over-year).
- 2022: Revenue of $200K, expenses of $1.2M, and assets of $4.3M (revenue -52.7% year-over-year).
- 2021: Revenue of $424K, expenses of $1.2M, and assets of $5.3M.
- 2020: Revenue of $-344,100, expenses of $1.6M, and assets of $6.1M (revenue -223.5% year-over-year).
- 2019: Revenue of $279K, expenses of $1.6M, and assets of $8.0M (revenue -82.8% year-over-year).
- 2015: Revenue of $1.6M, expenses of $3.5M, and assets of $6.1M (revenue +18.7% year-over-year).
- 2014: Revenue of $1.4M, expenses of $3.1M, and assets of $8.0M (revenue +10.0% year-over-year).
- 2013: Revenue of $1.2M, expenses of $1.7M, and assets of $9.6M (revenue +214.3% year-over-year).
- 2012: Revenue of $396K, expenses of $638K, and assets of $10.1M (revenue -43.2% year-over-year).
- 2011: Revenue of $697K, expenses of $573K, and assets of $10.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Gerald And Janet Carrus Foundation:
Data Sources and Methodology
This transparency report for Gerald And Janet Carrus 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.