Ginger Cove Foundation Inc
Ginger Cove Foundation maintains stable assets with fluctuating revenue and no reported officer compensation.
EIN: 113656031 · Annapolis, MD · NTEE: T11 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $665K |
| Total Expenses | $314K |
| Program Spending | 85% |
| Net Assets | $2.3M |
| Transparency Score | 88/100 |
Is Ginger Cove Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Ginger Cove Foundation Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Ginger Cove Foundation Inc
Ginger Cove Foundation Inc (EIN: 113656031) is a nonprofit organization based in Annapolis, MD, classified under NTEE code T11. The organization reported total revenue of $665K and total assets of $3.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Ginger Cove Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Ginger Cove Foundation Inc is a small nonprofit that has been operating for 23 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 0.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $468K |
| Total Expenses | $314K |
| Surplus / Deficit | +$154K |
| Total Assets | $3.1M |
| Total Liabilities | $798K |
| Net Assets | $2.3M |
| Operating Margin | 32.9% |
| Debt-to-Asset Ratio | 25.7% |
| Months of Reserves | 118.9 months |
Financial Health Grade: A
In 2023, Ginger Cove Foundation Inc reported a surplus of $154K with revenue exceeding expenses, holds 118.9 months of operating reserves (strong position), has a debt-to-asset ratio of 25.7% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Ginger Cove Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 0.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -4.7% | -19.3% | +21.6% |
| 2022 | +170.5% | +82.8% | -4.0% |
| 2021 | -63.5% | -79.9% | +14.6% |
| 2020 | -19.0% | +199.2% | -22.9% |
| 2019 | -29.5% | -54.5% | +11.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2003 |
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 Ginger Cove Foundation Inc with a Mission Score of 88 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Ginger Cove Foundation Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% 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 $154K, with revenue exceeding expenses.
- Debt-to-asset ratio: 25.7%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no salaries or other compensation are paid to its officers, which is highly favorable for donor confidence and efficiency.
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 Ginger Cove Foundation Inc's IRS 990 filings:
- Significant expense exceeding revenue in 2020 ($1,057,731 expenses vs. $497,309 revenue)
- Increasing trend in liabilities, reaching $797,720 in 2023
Strengths
The following positive indicators were identified for Ginger Cove Foundation Inc:
- Consistent reporting of 0% officer compensation across all filings
- Stable and growing asset base, reaching $3,108,192 in 2023
- Generally positive net assets, indicating financial stability
Frequently Asked Questions about Ginger Cove Foundation Inc
Is Ginger Cove Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Ginger Cove Foundation Inc (EIN: 113656031) some concerns. Mission Score: 88/100. 2 red flags identified, 3 strengths noted.
How does Ginger Cove Foundation Inc spend its money?
Ginger Cove Foundation Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Ginger Cove Foundation Inc tax-deductible?
Ginger Cove Foundation Inc is registered as a tax-exempt nonprofit (EIN: 113656031). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Ginger Cove Foundation Inc's spending goes to programs?
Ginger Cove Foundation Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Ginger Cove Foundation Inc compare to similar nonprofits?
With a transparency score of 88/100 (Excellent), Ginger Cove Foundation Inc is above average for NTEE category T11 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Ginger Cove Foundation Inc located?
Ginger Cove Foundation Inc is headquartered in Annapolis, Maryland and files with the IRS under EIN 113656031. It is classified under NTEE code T11.
How many years of IRS 990 filings does Ginger Cove Foundation Inc have?
Ginger Cove Foundation Inc has 13 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 $665K in total revenue.
Is Ginger Cove Foundation Inc a good charity?
Based on the available data, Ginger Cove Foundation Inc appears to be a well-managed charity, particularly due to its consistent reporting of 0% officer compensation and generally stable asset base. Its program spending efficiency, while not explicitly detailed in the provided data, is implied to be high given the lack of executive compensation.
What caused the significant expense spike in 2020?
In 2020, the organization reported expenses of $1,057,731 against revenue of $497,309. The specific reasons for this significant expense spike are not detailed in the provided summary but would be crucial for a complete financial understanding.
How does the increasing trend in liabilities impact the foundation?
Liabilities have increased from $321,001 in 2021 to $797,720 in 2023. While assets have also grown, this trend warrants further investigation to understand the nature of these liabilities and their potential impact on the foundation's long-term financial flexibility.
Filing History
IRS 990 filing history for Ginger Cove Foundation Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Ginger Cove Foundation Inc's revenue has grown by 10.7%, moving from $422K to $468K. Total assets increased by 107.6% over the same period, from $1.5M to $3.1M. Total functional expenses fell by 17.7%, from $381K to $314K. In its most recent filing year (2023), Ginger Cove Foundation Inc reported a surplus of $154K, with revenue exceeding expenses. The organization holds $798K in liabilities against $3.1M in assets (debt-to-asset ratio: 25.7%), resulting in net assets of $2.3M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $468K | $314K | $3.1M | $798K | — | View 990 |
| 2022 | $490K | $389K | $2.6M | $528K | — | View 990 |
| 2021 | $181K | $213K | $2.7M | $321K | — | — |
| 2020 | $497K | $1.1M | $2.3M | $373K | — | View 990 |
| 2019 | $614K | $354K | $3.0M | $362K | — | View 990 |
| 2018 | $870K | $777K | $2.7M | $355K | — | View 990 |
| 2017 | $316K | $352K | $2.5M | $187K | — | View 990 |
| 2016 | $389K | $392K | $2.3M | $133K | — | View 990 |
| 2015 | $604K | $316K | $2.6M | $246K | — | View 990 |
| 2014 | $898K | $401K | $2.2M | $138K | — | View 990 |
| 2013 | $608K | $447K | $1.6M | $155K | — | View 990 |
| 2012 | $470K | $480K | $1.4M | $166K | — | View 990 |
| 2011 | $422K | $381K | $1.5M | $261K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $468K, expenses of $314K, and assets of $3.1M (revenue -4.7% year-over-year).
- 2022: Revenue of $490K, expenses of $389K, and assets of $2.6M (revenue +170.5% year-over-year).
- 2021: Revenue of $181K, expenses of $213K, and assets of $2.7M (revenue -63.5% year-over-year).
- 2020: Revenue of $497K, expenses of $1.1M, and assets of $2.3M (revenue -19.0% year-over-year).
- 2019: Revenue of $614K, expenses of $354K, and assets of $3.0M (revenue -29.5% year-over-year).
- 2018: Revenue of $870K, expenses of $777K, and assets of $2.7M (revenue +175.2% year-over-year).
- 2017: Revenue of $316K, expenses of $352K, and assets of $2.5M (revenue -18.6% year-over-year).
- 2016: Revenue of $389K, expenses of $392K, and assets of $2.3M (revenue -35.6% year-over-year).
- 2015: Revenue of $604K, expenses of $316K, and assets of $2.6M (revenue -32.8% year-over-year).
- 2014: Revenue of $898K, expenses of $401K, and assets of $2.2M (revenue +47.6% year-over-year).
- 2013: Revenue of $608K, expenses of $447K, and assets of $1.6M (revenue +29.3% year-over-year).
- 2012: Revenue of $470K, expenses of $480K, and assets of $1.4M (revenue +11.4% year-over-year).
- 2011: Revenue of $422K, expenses of $381K, and assets of $1.5M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Ginger Cove Foundation Inc:
Data Sources and Methodology
This transparency report for Ginger Cove 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.