Glenstone Foundation
Glenstone Foundation's assets approach $3 billion with minimal operational expenses and zero reported officer compensation.
EIN: 205938416 · Potomac, MD · NTEE: A40 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $63.3M |
| Total Expenses | $52.0M |
| Program Spending | 90% |
| Net Assets | $2.7B |
| Transparency Score | 95/100 |
Is Glenstone Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Glenstone Foundation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Glenstone Foundation
Glenstone Foundation (EIN: 205938416) is a nonprofit organization based in Potomac, MD, classified under NTEE code A40. The organization reported total revenue of $63.3M and total assets of $3.0B according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Glenstone Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Glenstone Foundation is a major nonprofit that has been operating for 19 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 1.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $266.8M |
| Total Expenses | $52.0M |
| Surplus / Deficit | +$214.9M |
| Total Assets | $2.9B |
| Total Liabilities | $170.6M |
| Net Assets | $2.7B |
| Operating Margin | 80.5% |
| Debt-to-Asset Ratio | 5.9% |
| Months of Reserves | 673.0 months |
Financial Health Grade: A
In 2023, Glenstone Foundation reported a surplus of $214.9M with revenue exceeding expenses, holds 673.0 months of operating reserves (strong position), has a debt-to-asset ratio of 5.9% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Glenstone Foundation's revenue has grown at a compound annual growth rate (CAGR) of 1.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +101.2% | +15.6% | +4.3% |
| 2022 | -93.0% | +3.9% | +0.8% |
| 2021 | +217.7% | -4.7% | +18.1% |
| 2020 | +61.2% | +24.8% | +21.3% |
| 2019 | -27.5% | +213.1% | +53.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2007 |
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 Glenstone Foundation with a Mission Score of 95 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: 90%
- fundraising: 0%
According to IRS 990 filings, Glenstone 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 $214.9M, with revenue exceeding expenses.
- Debt-to-asset ratio: 5.9%.
Executive Compensation Analysis
Glenstone Foundation consistently reports 0% officer compensation across all available filings, indicating that no salaries or benefits are paid to its officers, which is highly unusual for an organization of its size and asset base.
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 Glenstone Foundation's IRS 990 filings:
- Lack of detailed program vs. administrative expense breakdown within total expenses, making it difficult to fully assess spending efficiency beyond the overall low expense ratio.
- Unusually low expenses relative to massive revenue and asset growth, which might suggest a focus on endowment building over immediate programmatic spending, though this is common for private foundations.
Strengths
The following positive indicators were identified for Glenstone Foundation:
- Exceptional financial health with assets growing from $584 million in 2011 to nearly $3 billion in 2023.
- Remarkably low operational expenses relative to revenue, indicating high efficiency in managing its financial resources (e.g., 2023 expenses were $51.9M against $266.8M revenue).
- Consistent reporting of 0% officer compensation, demonstrating a strong commitment to minimizing executive overhead.
- Strong asset accumulation and low liabilities, ensuring long-term sustainability and capacity for its mission.
- Consistent filing of IRS Form 990s over a decade, providing a clear and transparent financial history.
Frequently Asked Questions about Glenstone Foundation
Is Glenstone Foundation a legitimate charity?
Glenstone Foundation (EIN: 205938416) is a registered tax-exempt nonprofit based in Maryland. Our AI analysis gives it a Mission Score of 95/100. It has 10 years of IRS 990 filings on record. Total revenue: $63.3M. 2 red flags identified. 5 strengths noted. Financial health grade: A.
How does Glenstone Foundation spend its money?
Glenstone Foundation directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Glenstone Foundation tax-deductible?
Glenstone Foundation is registered as a tax-exempt nonprofit (EIN: 205938416). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Glenstone Foundation compare to similar nonprofits?
With a transparency score of 95/100 (Excellent), Glenstone Foundation is above average for NTEE category A40 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Glenstone Foundation located?
Glenstone Foundation is headquartered in Potomac, Maryland and files with the IRS under EIN 205938416. It is classified under NTEE code A40.
How many years of IRS 990 filings does Glenstone Foundation have?
Glenstone 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 $63.3M in total revenue.
How does Glenstone Foundation manage to operate with 0% officer compensation?
The consistent reporting of 0% officer compensation suggests that the foundation's leadership may be entirely volunteer-based, compensated through other entities, or that the compensation is structured in a way that it is not reported as officer compensation on the 990 form, though the latter is less likely given the consistency.
What is the primary source of Glenstone Foundation's substantial revenue and asset growth?
Given the significant and often fluctuating revenue figures (e.g., $1.89 billion in 2021, $266 million in 2023), it is highly probable that the foundation receives substantial contributions from its founders and/or investment income from its large endowment, rather than public donations.
How does Glenstone Foundation allocate its 'expenses' given its mission as a museum?
While specific program vs. administrative expense breakdowns are not provided, for a museum, 'expenses' would typically include costs related to art acquisition, conservation, exhibitions, facility maintenance, and visitor services. Given the low overall expense ratio, these activities are conducted with high efficiency or are significantly subsidized.
Filing History
IRS 990 filing history for Glenstone Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Glenstone Foundation's revenue has grown by 14.4%, moving from $233.2M to $266.8M. Total assets increased by 398.8% over the same period, from $584.1M to $2.9B. Total functional expenses rose by 1247.1%, from $3.9M to $52.0M. In its most recent filing year (2023), Glenstone Foundation reported a surplus of $214.9M, with revenue exceeding expenses. The organization holds $170.6M in liabilities against $2.9B in assets (debt-to-asset ratio: 5.9%), resulting in net assets of $2.7B.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $266.8M | $52.0M | $2.9B | $170.6M | — | View 990 |
| 2022 | $132.6M | $44.9M | $2.8B | $216.4M | — | — |
| 2021 | $1.9B | $43.2M | $2.8B | $220.3M | — | View 990 |
| 2020 | $596.7M | $45.4M | $2.3B | $141.2M | — | View 990 |
| 2019 | $370.0M | $36.4M | $1.9B | $6K | — | — |
| 2015 | $510.7M | $11.6M | $1.3B | $175K | — | View 990 |
| 2014 | $434.2M | $6.3M | $1.0B | $15.1M | — | View 990 |
| 2013 | $399.9M | $6.6M | $849.9M | $48.4M | — | View 990 |
| 2012 | $255.2M | $4.1M | $702.6M | $72.7M | — | View 990 |
| 2011 | $233.2M | $3.9M | $584.1M | $104.1M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $266.8M, expenses of $52.0M, and assets of $2.9B (revenue +101.2% year-over-year).
- 2022: Revenue of $132.6M, expenses of $44.9M, and assets of $2.8B (revenue -93.0% year-over-year).
- 2021: Revenue of $1.9B, expenses of $43.2M, and assets of $2.8B (revenue +217.7% year-over-year).
- 2020: Revenue of $596.7M, expenses of $45.4M, and assets of $2.3B (revenue +61.2% year-over-year).
- 2019: Revenue of $370.0M, expenses of $36.4M, and assets of $1.9B (revenue -27.5% year-over-year).
- 2015: Revenue of $510.7M, expenses of $11.6M, and assets of $1.3B (revenue +17.6% year-over-year).
- 2014: Revenue of $434.2M, expenses of $6.3M, and assets of $1.0B (revenue +8.6% year-over-year).
- 2013: Revenue of $399.9M, expenses of $6.6M, and assets of $849.9M (revenue +56.7% year-over-year).
- 2012: Revenue of $255.2M, expenses of $4.1M, and assets of $702.6M (revenue +9.4% year-over-year).
- 2011: Revenue of $233.2M, expenses of $3.9M, and assets of $584.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Glenstone Foundation:
Data Sources and Methodology
This transparency report for Glenstone 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.