Glassock Simpson Family Foundation
Glassock Simpson Family Foundation's financial activity has significantly declined, operating with minimal revenue and assets.
EIN: 204081960 · Lexington, KY · NTEE: T22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $207 |
| Total Expenses | $145 |
| Program Spending | 90% |
| Net Assets | $15K |
| Transparency Score | 60/100 |
Is Glassock Simpson Family Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Glassock Simpson Family Foundation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Glassock Simpson Family Foundation
Glassock Simpson Family Foundation (EIN: 204081960) is a nonprofit organization based in Lexington, KY, classified under NTEE code T22. The organization reported total revenue of $207 and total assets of $15K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Glassock Simpson Family Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Glassock Simpson Family Foundation is a micro nonprofit that has been operating for 20 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -28.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $207 |
| Total Expenses | $145 |
| Surplus / Deficit | +$62 |
| Total Assets | $15K |
| Total Liabilities | $1 |
| Net Assets | $15K |
| Operating Margin | 30.0% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 1229.5 months |
Financial Health Grade: A
In 2023, Glassock Simpson Family Foundation reported a surplus of $62 with revenue exceeding expenses, holds 1229.5 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), Glassock Simpson Family Foundation's revenue has declined at a compound annual growth rate (CAGR) of -28.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -82.5% | -79.9% | +0.4% |
| 2022 | +441.3% | +169.8% | +3.2% |
| 2021 | -97.8% | -89.9% | -0.3% |
| 2020 | +251.3% | -47.4% | +99.2% |
| 2019 | -96.9% | -97.6% | -93.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| 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 Glassock Simpson Family Foundation with a Mission Score of 60 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, Glassock Simpson Family 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 surplus of $62, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation has consistently been reported as 0% across all available filings, indicating that no officers or directors are receiving salaries from the foundation, which is positive for a small organization.
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 Glassock Simpson Family Foundation's IRS 990 filings:
- Significant decline in revenue and assets over the past decade, indicating reduced operational capacity.
- Extremely low revenue in recent years (e.g., $207 in 2023), raising questions about active program engagement.
Strengths
The following positive indicators were identified for Glassock Simpson Family Foundation:
- Consistent reporting of 0% officer compensation, demonstrating fiscal responsibility regarding executive pay.
- Low liabilities ($1 in recent years) indicating a healthy balance sheet in that specific area.
- Consistent IRS 990 filings, maintaining transparency despite reduced activity.
Frequently Asked Questions about Glassock Simpson Family Foundation
Is Glassock Simpson Family Foundation a legitimate charity?
Glassock Simpson Family Foundation (EIN: 204081960) is a registered tax-exempt nonprofit based in Kentucky. Our AI analysis gives it a Mission Score of 60/100. It has 10 years of IRS 990 filings on record. Total revenue: $207. 2 red flags identified. 3 strengths noted. Financial health grade: A.
How does Glassock Simpson Family Foundation spend its money?
Glassock Simpson Family Foundation directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Glassock Simpson Family Foundation tax-deductible?
Glassock Simpson Family Foundation is registered as a tax-exempt nonprofit (EIN: 204081960). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Glassock Simpson Family Foundation compare to similar nonprofits?
With a transparency score of 60/100 (Good), Glassock Simpson Family Foundation is above average for NTEE category T22 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Glassock Simpson Family Foundation located?
Glassock Simpson Family Foundation is headquartered in Lexington, Kentucky and files with the IRS under EIN 204081960. It is classified under NTEE code T22.
How many years of IRS 990 filings does Glassock Simpson Family Foundation have?
Glassock Simpson Family 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 $207 in total revenue.
What is the current operational focus of the Glassock Simpson Family Foundation given its minimal revenue and assets?
With 2023 revenue at $207 and assets at $14,857, the foundation's current operational focus is unclear. It may be in a dormant phase or primarily distributing very small grants.
Why have the foundation's revenue and assets decreased so dramatically over the past decade?
Revenue has dropped from $89,004 in 2015 to $207 in 2023, and assets from $347,031 in 2011 to $14,857 in 2023. This significant decline suggests a deliberate reduction in activity, a depletion of initial endowments, or a shift away from active fundraising.
Is the Glassock Simpson Family Foundation still actively making grants or pursuing its stated mission?
Given the very low revenue and expenses in recent years (e.g., $145 expenses in 2023), it is unlikely the foundation is actively making substantial grants or pursuing a broad mission. Its activities are likely very limited.
Filing History
IRS 990 filing history for Glassock Simpson Family Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Glassock Simpson Family Foundation's revenue has declined by 98.1%, moving from $11K to $207. Total assets decreased by 95.7% over the same period, from $347K to $15K. Total functional expenses fell by 99.9%, from $142K to $145. In its most recent filing year (2023), Glassock Simpson Family Foundation reported a surplus of $62, with revenue exceeding expenses. The organization holds $1 in liabilities against $15K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $15K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $207 | $145 | $15K | $1 | — | — |
| 2022 | $1K | $723 | $15K | $1 | — | View 990 |
| 2021 | $218 | $268 | $14K | $1 | — | — |
| 2020 | $10K | $3K | $14K | $1 | — | — |
| 2019 | $3K | $5K | $7K | $1 | — | View 990 |
| 2015 | $89K | $207K | $108K | $1 | — | View 990 |
| 2014 | $41K | $144K | $225K | $1 | — | View 990 |
| 2013 | $21K | $26K | $329K | $1 | — | View 990 |
| 2012 | $14K | $28K | $333K | $1 | — | View 990 |
| 2011 | $11K | $142K | $347K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $207, expenses of $145, and assets of $15K (revenue -82.5% year-over-year).
- 2022: Revenue of $1K, expenses of $723, and assets of $15K (revenue +441.3% year-over-year).
- 2021: Revenue of $218, expenses of $268, and assets of $14K (revenue -97.8% year-over-year).
- 2020: Revenue of $10K, expenses of $3K, and assets of $14K (revenue +251.3% year-over-year).
- 2019: Revenue of $3K, expenses of $5K, and assets of $7K (revenue -96.9% year-over-year).
- 2015: Revenue of $89K, expenses of $207K, and assets of $108K (revenue +117.8% year-over-year).
- 2014: Revenue of $41K, expenses of $144K, and assets of $225K (revenue +92.4% year-over-year).
- 2013: Revenue of $21K, expenses of $26K, and assets of $329K (revenue +52.8% year-over-year).
- 2012: Revenue of $14K, expenses of $28K, and assets of $333K (revenue +30.8% year-over-year).
- 2011: Revenue of $11K, expenses of $142K, and assets of $347K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Glassock Simpson Family Foundation:
Data Sources and Methodology
This transparency report for Glassock Simpson Family 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.