Granite Edvance Corporation
Granite Edvance Corporation maintains consistent financial surpluses and substantial assets, with no reported officer compensation.
EIN: 20368776 · Concord, NH · NTEE: B820 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $70.3M |
| Total Expenses | $60.4M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $60 |
| Net Assets | $296.3M |
| Transparency Score | 75/100 |
Is Granite Edvance Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Granite Edvance Corporation directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Granite Edvance Corporation
Granite Edvance Corporation (EIN: 20368776) is a nonprofit organization based in Concord, NH, classified under NTEE code B820. The organization reported total revenue of $70.3M and total assets of $912.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Granite Edvance Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Granite Edvance Corporation is a major nonprofit that has been operating for 43 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -7.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $61.7M |
| Total Expenses | $60.4M |
| Surplus / Deficit | +$1.3M |
| Total Assets | $915.7M |
| Total Liabilities | $619.5M |
| Net Assets | $296.3M |
| Operating Margin | 2.1% |
| Debt-to-Asset Ratio | 67.6% |
| Months of Reserves | 181.9 months |
Financial Health Grade: A
In 2023, Granite Edvance Corporation reported a surplus of $1.3M with revenue exceeding expenses, holds 181.9 months of operating reserves (strong position), has a debt-to-asset ratio of 67.6% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Granite Edvance Corporation's revenue has declined at a compound annual growth rate (CAGR) of -7.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +2.8% | +15.0% | -1.4% |
| 2022 | -20.1% | -15.4% | +1.9% |
| 2021 | +37.0% | +10.7% | +4.9% |
| 2020 | +0.1% | +4.7% | +12.3% |
| 2019 | +13.8% | +22.2% | +11.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 1983 |
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 Granite Edvance Corporation 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Granite Edvance Corporation 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 $1.3M, with revenue exceeding expenses.
- Debt-to-asset ratio: 67.6%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, which is highly unusual for an entity with annual revenues exceeding $60 million and assets over $900 million. This suggests that executive leadership may be uncompensated, compensated through a related entity, or that the compensation is categorized differently on the 990, warranting further scrutiny.
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 Granite Edvance Corporation's IRS 990 filings:
- Consistent 0% reported officer compensation, which is highly unusual for an organization of this size and asset base.
- Significant liabilities relative to assets, requiring further investigation into their nature and management.
Strengths
The following positive indicators were identified for Granite Edvance Corporation:
- Consistent financial surpluses, indicating sound operational management (e.g., $1,312,079 surplus in 2023).
- Substantial and growing asset base, reaching $915,716,327 in 2023, demonstrating financial stability.
- Long history of IRS 990 filings (13 filings), indicating a commitment to regulatory compliance.
Frequently Asked Questions about Granite Edvance Corporation
Is Granite Edvance Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Granite Edvance Corporation (EIN: 20368776) some concerns. Mission Score: 75/100. 2 red flags identified, 3 strengths noted.
How does Granite Edvance Corporation spend its money?
Granite Edvance Corporation directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Granite Edvance Corporation tax-deductible?
Granite Edvance Corporation is registered as a tax-exempt nonprofit (EIN: 20368776). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Granite Edvance Corporation CEO make?
Granite Edvance Corporation's highest-compensated officer earns $60 annually. The organization reported $70.3M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Granite Edvance Corporation's spending goes to programs?
Granite Edvance Corporation directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Granite Edvance Corporation compare to similar nonprofits?
With a transparency score of 75/100 (Good), Granite Edvance Corporation is above average for NTEE category B820 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Granite Edvance Corporation located?
Granite Edvance Corporation is headquartered in Concord, New Hampshire and files with the IRS under EIN 20368776. It is classified under NTEE code B820.
How many years of IRS 990 filings does Granite Edvance Corporation have?
Granite Edvance Corporation 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 $70.3M in total revenue.
How are the organization's executives compensated if 'Officer Comp' is consistently reported as 0%?
The consistent reporting of 0% for officer compensation across all 13 filings is a significant anomaly for an organization of this scale. It suggests that executive leadership may be uncompensated, compensated by a related entity, or that their compensation is reported under a different category on the IRS Form 990, which would require a deeper dive into the full 990 forms to understand.
What is the specific breakdown of program, administrative, and fundraising expenses?
While the provided data shows total expenses, it does not offer a detailed breakdown into program, administrative, and fundraising categories. A full IRS 990 would be needed to ascertain these specific ratios and evaluate spending efficiency more precisely.
What is the nature of the significant liabilities held by the organization?
The organization consistently carries substantial liabilities, such as $619,458,501 in 2023, which are a significant portion of its total assets. Understanding the nature of these liabilities (e.g., bonds, loans, program-related investments) is crucial for a complete financial picture.
Filing History
IRS 990 filing history for Granite Edvance Corporation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Granite Edvance Corporation's revenue has declined by 57.9%, moving from $146.6M to $61.7M. Total assets decreased by 21.1% over the same period, from $1.2B to $915.7M. Total functional expenses rose by 4.2%, from $58.0M to $60.4M. In its most recent filing year (2023), Granite Edvance Corporation reported a surplus of $1.3M, with revenue exceeding expenses. The organization holds $619.5M in liabilities against $915.7M in assets (debt-to-asset ratio: 67.6%), resulting in net assets of $296.3M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $61.7M | $60.4M | $915.7M | $619.5M | — | View 990 |
| 2022 | $60.0M | $52.5M | $928.3M | $656.7M | — | View 990 |
| 2021 | $75.1M | $62.1M | $910.6M | $621.6M | — | View 990 |
| 2020 | $54.8M | $56.1M | $867.9M | $599.1M | — | View 990 |
| 2019 | $54.8M | $53.6M | $773.0M | $549.9M | — | View 990 |
| 2018 | $48.1M | $43.8M | $693.2M | $472.1M | — | View 990 |
| 2017 | $40.6M | $37.5M | $665.2M | $448.2M | — | View 990 |
| 2016 | $38.3M | $35.9M | $728.9M | $518.3M | — | View 990 |
| 2015 | $40.6M | $35.3M | $747.7M | $542.0M | — | View 990 |
| 2014 | $42.9M | $39.6M | $824.7M | $620.8M | — | View 990 |
| 2013 | $50.6M | $47.2M | $911.6M | $712.3M | — | View 990 |
| 2012 | $51.9M | $52.1M | $1.0B | $820.0M | — | View 990 |
| 2011 | $146.6M | $58.0M | $1.2B | $967.3M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $61.7M, expenses of $60.4M, and assets of $915.7M (revenue +2.8% year-over-year).
- 2022: Revenue of $60.0M, expenses of $52.5M, and assets of $928.3M (revenue -20.1% year-over-year).
- 2021: Revenue of $75.1M, expenses of $62.1M, and assets of $910.6M (revenue +37.0% year-over-year).
- 2020: Revenue of $54.8M, expenses of $56.1M, and assets of $867.9M (revenue +0.1% year-over-year).
- 2019: Revenue of $54.8M, expenses of $53.6M, and assets of $773.0M (revenue +13.8% year-over-year).
- 2018: Revenue of $48.1M, expenses of $43.8M, and assets of $693.2M (revenue +18.5% year-over-year).
- 2017: Revenue of $40.6M, expenses of $37.5M, and assets of $665.2M (revenue +6.1% year-over-year).
- 2016: Revenue of $38.3M, expenses of $35.9M, and assets of $728.9M (revenue -5.6% year-over-year).
- 2015: Revenue of $40.6M, expenses of $35.3M, and assets of $747.7M (revenue -5.4% year-over-year).
- 2014: Revenue of $42.9M, expenses of $39.6M, and assets of $824.7M (revenue -15.2% year-over-year).
- 2013: Revenue of $50.6M, expenses of $47.2M, and assets of $911.6M (revenue -2.6% year-over-year).
- 2012: Revenue of $51.9M, expenses of $52.1M, and assets of $1.0B (revenue -64.6% year-over-year).
- 2011: Revenue of $146.6M, expenses of $58.0M, and assets of $1.2B.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Granite Edvance Corporation:
Data Sources and Methodology
This transparency report for Granite Edvance Corporation 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.