Griffin Cole Fund
Griffin Cole Fund shows strong financial growth and asset accumulation with minimal reported expenses and zero officer compensation.
EIN: 137109406 · New York, NY · NTEE: T22Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $24.7M |
| Total Expenses | $5.2M |
| Program Spending | 90% |
| CEO/Top Officer Pay | $100 |
| Net Assets | $93.1M |
| Transparency Score | 90/100 |
Is Griffin Cole Fund Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Griffin Cole Fund directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Griffin Cole Fund
Griffin Cole Fund (EIN: 137109406) is a nonprofit organization based in New York, NY, classified under NTEE code T22Z. The organization reported total revenue of $24.7M and total assets of $93.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Griffin Cole Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Griffin Cole Fund is a large nonprofit that has been operating for 28 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 24.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $57.7M |
| Total Expenses | $5.2M |
| Surplus / Deficit | +$52.5M |
| Total Assets | $93.1M |
| Total Liabilities | $1 |
| Net Assets | $93.1M |
| Operating Margin | 90.9% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 212.9 months |
Financial Health Grade: A
In 2023, Griffin Cole Fund reported a surplus of $52.5M with revenue exceeding expenses, holds 212.9 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), Griffin Cole Fund's revenue has grown at a compound annual growth rate (CAGR) of 24.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +175.7% | +24.9% | +7.8% |
| 2022 | -16.9% | +155.1% | +9.1% |
| 2021 | +469.6% | -28.6% | +21.7% |
| 2020 | -85.5% | -18.8% | +1.8% |
| 2019 | +114.8% | +59.0% | +80.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1998 |
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 Griffin Cole Fund with a Mission Score of 90 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: 5%
- programs: 90%
- fundraising: 5%
According to IRS 990 filings, Griffin Cole Fund allocates its expenses as follows: admin: 5%, programs: 90%, fundraising: 5%. 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 $52.5M, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, which is highly unusual for an organization with assets nearing $100 million and annual revenues often exceeding $20 million. This suggests either a fully volunteer-led executive team, or that executive compensation is handled through an affiliated entity not detailed in these specific 990s, warranting further investigation for complete transparency.
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 Griffin Cole Fund's IRS 990 filings:
- Consistent 0% officer compensation for a large organization, which may obscure actual executive remuneration if paid by a related entity.
- Very low expense-to-revenue ratio, which, while indicating efficiency, could also suggest a lack of direct program implementation if the organization is not primarily a grantmaker.
Strengths
The following positive indicators were identified for Griffin Cole Fund:
- Exceptional financial stability with assets growing from $16.5M in 2011 to $93.0M in 2023.
- Strong revenue growth, with the latest period (202307) showing $57.7M, a significant increase from previous years.
- Minimal liabilities, indicating a very healthy balance sheet and low financial risk.
- High operational efficiency, as expenses consistently represent a small percentage of total revenue.
- Significant asset base provides long-term sustainability and capacity for mission fulfillment.
Frequently Asked Questions about Griffin Cole Fund
Is Griffin Cole Fund a legitimate charity?
Griffin Cole Fund (EIN: 137109406) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 90/100. It has 10 years of IRS 990 filings on record. Total revenue: $24.7M. 2 red flags identified. 5 strengths noted. Financial health grade: A.
How does Griffin Cole Fund spend its money?
Griffin Cole Fund directs 90% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Griffin Cole Fund tax-deductible?
Griffin Cole Fund is registered as a tax-exempt nonprofit (EIN: 137109406). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Griffin Cole Fund CEO make?
Griffin Cole Fund's highest-compensated officer earns $100 annually. The organization reported $24.7M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Griffin Cole Fund's spending goes to programs?
Griffin Cole Fund directs 90% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Griffin Cole Fund compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), Griffin Cole Fund is above average for NTEE category T22Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Griffin Cole Fund located?
Griffin Cole Fund is headquartered in New York, New York and files with the IRS under EIN 137109406. It is classified under NTEE code T22Z.
How many years of IRS 990 filings does Griffin Cole Fund have?
Griffin Cole Fund 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 $24.7M in total revenue.
How does Griffin Cole Fund manage to report 0% officer compensation with such large revenues and assets?
The consistent reporting of 0% officer compensation across all filings is highly unusual for an organization of this size. It could indicate that executive leadership is entirely volunteer-based, or that compensation is paid by a related organization not detailed in these specific 990s, or that the organization primarily functions as a grantmaking entity with minimal direct operational staff.
What are the primary program activities given the low expense ratio relative to revenue?
Given the NTEE code T22Z (Other Philanthropy, Voluntarism, and Grantmaking Foundations) and the low expense ratio (e.g., $5.2M expenses on $57.7M revenue in 202307), it is highly probable that the Griffin Cole Fund primarily operates as a grantmaking foundation, distributing funds to other organizations rather than directly running extensive programs. The expenses likely cover grant disbursements and minimal administrative overhead.
What is the nature of the 'Liabilities' reported as $1 in recent years?
The consistent reporting of $1 in liabilities for several recent periods (202307, 202207, 202107) is unusual. It suggests either a nominal placeholder, an accounting anomaly, or extremely minimal outstanding obligations. It does not indicate any significant financial risk.
Filing History
IRS 990 filing history for Griffin Cole Fund showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Griffin Cole Fund's revenue has grown by 1301.7%, moving from $4.1M to $57.7M. Total assets increased by 461.5% over the same period, from $16.6M to $93.1M. Total functional expenses rose by 166.7%, from $2.0M to $5.2M. In its most recent filing year (2023), Griffin Cole Fund reported a surplus of $52.5M, with revenue exceeding expenses. The organization holds $1 in liabilities against $93.1M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $93.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $57.7M | $5.2M | $93.1M | $1 | — | View 990 |
| 2022 | $20.9M | $4.2M | $86.3M | $1 | — | View 990 |
| 2021 | $25.2M | $1.6M | $79.1M | $1 | — | View 990 |
| 2020 | $4.4M | $2.3M | $65.0M | $10K | — | — |
| 2019 | $30.5M | $2.8M | $63.9M | $1 | — | View 990 |
| 2015 | $14.2M | $1.8M | $35.5M | $0 | — | View 990 |
| 2014 | $11.8M | $1.4M | $29.6M | $0 | — | View 990 |
| 2013 | $10.5M | $1.8M | $23.0M | $0 | — | View 990 |
| 2012 | $5.6M | $2.6M | $17.5M | $0 | — | View 990 |
| 2011 | $4.1M | $2.0M | $16.6M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $57.7M, expenses of $5.2M, and assets of $93.1M (revenue +175.7% year-over-year).
- 2022: Revenue of $20.9M, expenses of $4.2M, and assets of $86.3M (revenue -16.9% year-over-year).
- 2021: Revenue of $25.2M, expenses of $1.6M, and assets of $79.1M (revenue +469.6% year-over-year).
- 2020: Revenue of $4.4M, expenses of $2.3M, and assets of $65.0M (revenue -85.5% year-over-year).
- 2019: Revenue of $30.5M, expenses of $2.8M, and assets of $63.9M (revenue +114.8% year-over-year).
- 2015: Revenue of $14.2M, expenses of $1.8M, and assets of $35.5M (revenue +20.2% year-over-year).
- 2014: Revenue of $11.8M, expenses of $1.4M, and assets of $29.6M (revenue +12.5% year-over-year).
- 2013: Revenue of $10.5M, expenses of $1.8M, and assets of $23.0M (revenue +86.0% year-over-year).
- 2012: Revenue of $5.6M, expenses of $2.6M, and assets of $17.5M (revenue +37.1% year-over-year).
- 2011: Revenue of $4.1M, expenses of $2.0M, and assets of $16.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Griffin Cole Fund:
Data Sources and Methodology
This transparency report for Griffin Cole Fund 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.