Gerald L Lennard Foundation Inc
Gerald L Lennard Foundation Inc. consistently spends more than it earns, drawing down its asset base.
EIN: 133888381 · Wilmington, DE · NTEE: T22Z · Updated: 2026-03-28
Is Gerald L Lennard Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Gerald L Lennard Foundation Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Gerald L Lennard Foundation Inc
Gerald L Lennard Foundation Inc (EIN: 133888381) is a nonprofit organization based in Wilmington, DE, classified under NTEE code T22Z. The organization reported total revenue of $21.3M and total assets of $45.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Gerald L Lennard Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Gerald L Lennard Foundation Inc is a large nonprofit that has been operating for 30 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 41.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.5M |
| Total Expenses | $3.1M |
| Surplus / Deficit | $-1,624,542 |
| Total Assets | $45.8M |
| Total Liabilities | $1 |
| Net Assets | $45.8M |
| Operating Margin | -111.4% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 178.3 months |
Financial Health Grade: B
In 2023, Gerald L Lennard Foundation Inc reported a deficit of $1.6M with expenses exceeding revenue, holds 178.3 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 L Lennard Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 41.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +2480.3% | +1.2% | -3.4% |
| 2022 | -97.2% | +12.8% | -5.9% |
| 2021 | +111.6% | +37.8% | +0.8% |
| 2020 | -98.0% | +455.8% | -2.0% |
| 2019 | +5915.5% | +310.3% | +2701.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1996 |
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 L Lennard Foundation Inc with a Mission Score of 70 out of 100 (Good). 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 L Lennard Foundation Inc 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 $1.6M, 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 officers, which is highly unusual for a foundation of this size and could suggest that administrative functions are performed by unpaid volunteers or through other entities.
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 L Lennard Foundation Inc's IRS 990 filings:
- Consistent deficit spending, with expenses exceeding revenue in most recent years (e.g., $3.08M expenses vs. $1.45M revenue in 2023).
- Significant decline in assets from $51M in 2019 to $45.8M in 2023.
- Reporting 0% officer compensation for a foundation of this asset size is unusual and warrants further investigation into how administrative functions are compensated or managed.
Strengths
The following positive indicators were identified for Gerald L Lennard Foundation Inc:
- Extremely low liabilities, consistently reported as $1 or $0.
- No reported officer compensation, indicating a potential for very low administrative overhead if services are truly pro bono.
- Significant asset base of over $45 million, providing substantial capacity for grant-making.
Frequently Asked Questions about Gerald L Lennard Foundation Inc
Is Gerald L Lennard Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Gerald L Lennard Foundation Inc (EIN: 133888381) some concerns. Mission Score: 70/100. 3 red flags identified, 3 strengths noted.
How does Gerald L Lennard Foundation Inc spend its money?
Gerald L Lennard Foundation Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Gerald L Lennard Foundation Inc tax-deductible?
Gerald L Lennard Foundation Inc is registered as a tax-exempt nonprofit (EIN: 133888381). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Why does the foundation consistently report 0% officer compensation?
Reporting 0% officer compensation for a foundation with assets exceeding $45 million is unusual and could imply that administrative services are provided pro bono, by a related entity, or that compensation is structured in a way not captured under 'officer compensation' on the 990.
What is the nature of the foundation's program spending given its NTEE code T22Z?
The NTEE code T22Z indicates 'Private Grantmaking Foundations (Other),' suggesting the foundation primarily makes grants to other organizations rather than operating direct programs. Further detail would require reviewing the grants schedule in the full 990 forms.
Is the consistent decline in assets sustainable?
The foundation's assets have decreased from over $51 million in 2019 to $45.8 million in 2023 due to expenses consistently exceeding revenue. While foundations often spend from their endowment, a prolonged trend of significant asset depletion could impact future grant-making capacity.
Filing History
IRS 990 filing history for Gerald L Lennard Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Gerald L Lennard Foundation Inc's revenue has grown by 6377.6%, moving from $23K to $1.5M. Total assets increased by 6687.7% over the same period, from $675K to $45.8M. Total functional expenses rose by 2404.8%, from $123K to $3.1M. In its most recent filing year (2023), Gerald L Lennard Foundation Inc reported a deficit of $1.6M, with expenses exceeding revenue. The organization holds $1 in liabilities against $45.8M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $45.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.5M | $3.1M | $45.8M | $1 | — | — |
| 2022 | $57K | $3.0M | $47.4M | $1 | — | View 990 |
| 2021 | $2.1M | $2.7M | $50.4M | $1 | — | View 990 |
| 2020 | $969K | $2.0M | $50.0M | $1 | — | View 990 |
| 2019 | $48.2M | $353K | $51.0M | $1 | — | View 990 |
| 2015 | $801K | $86K | $1.8M | $0 | — | View 990 |
| 2014 | $95K | $95K | $1.1M | $0 | — | View 990 |
| 2013 | $126K | $97K | $1.1M | $1 | — | View 990 |
| 2012 | $501K | $96K | $1.1M | $0 | — | View 990 |
| 2011 | $23K | $123K | $675K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.5M, expenses of $3.1M, and assets of $45.8M (revenue +2480.3% year-over-year).
- 2022: Revenue of $57K, expenses of $3.0M, and assets of $47.4M (revenue -97.2% year-over-year).
- 2021: Revenue of $2.1M, expenses of $2.7M, and assets of $50.4M (revenue +111.6% year-over-year).
- 2020: Revenue of $969K, expenses of $2.0M, and assets of $50.0M (revenue -98.0% year-over-year).
- 2019: Revenue of $48.2M, expenses of $353K, and assets of $51.0M (revenue +5915.5% year-over-year).
- 2015: Revenue of $801K, expenses of $86K, and assets of $1.8M (revenue +742.8% year-over-year).
- 2014: Revenue of $95K, expenses of $95K, and assets of $1.1M (revenue -24.4% year-over-year).
- 2013: Revenue of $126K, expenses of $97K, and assets of $1.1M (revenue -74.9% year-over-year).
- 2012: Revenue of $501K, expenses of $96K, and assets of $1.1M (revenue +2125.4% year-over-year).
- 2011: Revenue of $23K, expenses of $123K, and assets of $675K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Gerald L Lennard Foundation Inc:
Data Sources and Methodology
This transparency report for Gerald L Lennard 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.