Grace Hughes Foundation
Grace Hughes Foundation consistently spends more than it earns, drawing down assets, with no officer compensation.
EIN: 201635744 · Lime Springs, IA · NTEE: B99 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $111K |
| Total Expenses | $16K |
| Program Spending | 80% |
| Net Assets | $237K |
| Transparency Score | 75/100 |
Is Grace Hughes Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Grace Hughes Foundation directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Grace Hughes Foundation
Grace Hughes Foundation (EIN: 201635744) is a nonprofit organization based in Lime Springs, IA, classified under NTEE code B99. The organization reported total revenue of $111K and total assets of $243K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Grace Hughes Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Grace Hughes Foundation is a small nonprofit that has been operating for 21 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -3.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $11K |
| Total Expenses | $16K |
| Surplus / Deficit | $-4,285 |
| Total Assets | $237K |
| Total Liabilities | $1 |
| Net Assets | $237K |
| Operating Margin | -37.9% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 182.6 months |
Financial Health Grade: B
In 2023, Grace Hughes Foundation reported a deficit of $4K with expenses exceeding revenue, holds 182.6 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), Grace Hughes Foundation's revenue has declined at a compound annual growth rate (CAGR) of -3.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +13.3% | -16.7% | -1.8% |
| 2022 | -44.0% | +2.6% | -3.5% |
| 2021 | +70.6% | +6.5% | -9.7% |
| 2020 | +112.6% | +4.2% | +11.9% |
| 2019 | -0.1% | -43.2% | -9.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2005 |
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 Grace Hughes Foundation with a Mission Score of 75 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Grace Hughes Foundation allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% 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 $4K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is consistently reported at 0% across all available filings, indicating that the organization's officers are unpaid, which is highly commendable for a small 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 Grace Hughes Foundation's IRS 990 filings:
- Consistent trend of expenses exceeding revenue, leading to asset depletion (e.g., 2023: $15,579 expenses vs. $11,294 revenue; assets declined from $241,360 to $237,075).
- Lack of detailed expense breakdown in provided data makes it difficult to assess program efficiency accurately.
Strengths
The following positive indicators were identified for Grace Hughes Foundation:
- Zero officer compensation reported across all filings, indicating strong commitment to mission and efficient use of funds.
- Consistent filing of IRS Form 990s, demonstrating transparency.
- Maintains a healthy asset base relative to its annual expenses, providing a buffer despite asset depletion (2023 assets: $237,075 vs. expenses: $15,579).
Frequently Asked Questions about Grace Hughes Foundation
Is Grace Hughes Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Grace Hughes Foundation (EIN: 201635744) some concerns. Mission Score: 75/100. 2 red flags identified, 3 strengths noted.
How does Grace Hughes Foundation spend its money?
Grace Hughes Foundation directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Grace Hughes Foundation tax-deductible?
Grace Hughes Foundation is registered as a tax-exempt nonprofit (EIN: 201635744). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Grace Hughes Foundation's spending goes to programs?
Grace Hughes Foundation directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Grace Hughes Foundation compare to similar nonprofits?
With a transparency score of 75/100 (Good), Grace Hughes Foundation is above average for NTEE category B99 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Grace Hughes Foundation located?
Grace Hughes Foundation is headquartered in Lime Springs, Iowa and files with the IRS under EIN 201635744. It is classified under NTEE code B99.
How many years of IRS 990 filings does Grace Hughes Foundation have?
Grace Hughes 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 $111K in total revenue.
Is the Grace Hughes Foundation financially sustainable in the long term given its trend of expenses exceeding revenue?
The foundation has consistently reported expenses exceeding revenue in most recent years (e.g., $15,579 expenses vs. $11,294 revenue in 2023), leading to a decline in assets from $302,844 in 2011 to $237,075 in 2023. This trend suggests it is drawing down its principal, which may not be sustainable indefinitely without new significant funding sources.
What are the primary categories of expenses for the Grace Hughes Foundation?
The provided data only gives total expenses for each period. Without a detailed breakdown from the 990 forms, it is not possible to determine the specific categories (e.g., program services, management and general, fundraising) that constitute the majority of the foundation's spending.
Why are liabilities consistently reported as $1 in recent years?
The consistent reporting of $1 in liabilities from 2020-2023 is unusual. While negligible in financial impact, it could represent a minor accounting entry or a placeholder. Further examination of the full 990 forms would be needed to understand the specific nature of this recurring liability.
Filing History
IRS 990 filing history for Grace Hughes Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Grace Hughes Foundation's revenue has declined by 30.6%, moving from $16K to $11K. Total assets decreased by 21.7% over the same period, from $303K to $237K. Total functional expenses fell by 28.1%, from $22K to $16K. In its most recent filing year (2023), Grace Hughes Foundation reported a deficit of $4K, with expenses exceeding revenue. The organization holds $1 in liabilities against $237K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $237K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $11K | $16K | $237K | $1 | — | — |
| 2022 | $10K | $19K | $241K | $1 | — | — |
| 2021 | $18K | $18K | $250K | $1 | — | — |
| 2020 | $10K | $17K | $277K | $1 | — | View 990 |
| 2019 | $5K | $16K | $247K | $0 | — | View 990 |
| 2015 | $5K | $29K | $273K | $0 | — | View 990 |
| 2014 | $4K | $30K | $279K | $0 | — | View 990 |
| 2013 | $11K | $4K | $281K | $0 | — | View 990 |
| 2012 | $11K | $17K | $288K | $0 | — | View 990 |
| 2011 | $16K | $22K | $303K | $-19,943 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $11K, expenses of $16K, and assets of $237K (revenue +13.3% year-over-year).
- 2022: Revenue of $10K, expenses of $19K, and assets of $241K (revenue -44.0% year-over-year).
- 2021: Revenue of $18K, expenses of $18K, and assets of $250K (revenue +70.6% year-over-year).
- 2020: Revenue of $10K, expenses of $17K, and assets of $277K (revenue +112.6% year-over-year).
- 2019: Revenue of $5K, expenses of $16K, and assets of $247K (revenue -0.1% year-over-year).
- 2015: Revenue of $5K, expenses of $29K, and assets of $273K (revenue +11.7% year-over-year).
- 2014: Revenue of $4K, expenses of $30K, and assets of $279K (revenue -61.2% year-over-year).
- 2013: Revenue of $11K, expenses of $4K, and assets of $281K (revenue +-0.0% year-over-year).
- 2012: Revenue of $11K, expenses of $17K, and assets of $288K (revenue -30.2% year-over-year).
- 2011: Revenue of $16K, expenses of $22K, and assets of $303K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Grace Hughes Foundation:
Data Sources and Methodology
This transparency report for Grace Hughes 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.