Harold And Kate Reed Family Foundation
Harold And Kate Reed Family Foundation maintains strong assets and zero officer compensation amidst fluctuating revenues.
EIN: 203982052 · Minneapolis, MN · NTEE: T20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $910K |
| Total Expenses | $656K |
| Program Spending | 90% |
| CEO/Top Officer Pay | $6 |
| Net Assets | $5.9M |
| Transparency Score | 95/100 |
Is Harold And Kate Reed Family Foundation Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Harold And Kate Reed Family Foundation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Harold And Kate Reed Family Foundation
Harold And Kate Reed Family Foundation (EIN: 203982052) is a nonprofit organization based in Minneapolis, MN, classified under NTEE code T20. The organization reported total revenue of $910K and total assets of $6.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Harold And Kate Reed Family Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Harold And Kate Reed Family Foundation is a small nonprofit that has been operating for 19 years, with 10 years of IRS 990 filings on record (2011–2023).
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $694K |
| Total Expenses | $656K |
| Surplus / Deficit | +$38K |
| Total Assets | $5.9M |
| Total Liabilities | $1 |
| Net Assets | $5.9M |
| Operating Margin | 5.5% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 107.3 months |
Financial Health Grade: A
In 2023, Harold And Kate Reed Family Foundation reported a surplus of $38K with revenue exceeding expenses, holds 107.3 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +6.8% | +9.2% | +0.7% |
| 2022 | -56.4% | +41.3% | +0.8% |
| 2021 | +1251.4% | -9.7% | +13.1% |
| 2020 | -76.3% | +7.6% | -6.6% |
| 2019 | -77.3% | +54.2% | +1.8% |
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 Harold And Kate Reed Family 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, Harold And Kate Reed 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 $38K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that no salaries are paid to officers. This is highly unusual for an organization of its size with assets over $6 million and suggests a volunteer-led or extremely lean operational model.
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.
Strengths
The following positive indicators were identified for Harold And Kate Reed Family Foundation:
- Consistently reports 0% officer compensation, indicating high efficiency and dedication of funds to mission.
- Maintains strong and growing asset base, from $3.39 million in 2011 to $5.86 million in 2023.
- Extremely low liabilities, often $1, demonstrating strong financial health and minimal debt.
- Consistent IRS 990 filing history, indicating good transparency and compliance.
- Positive operating margins in most recent years (e.g., 2023 revenue $693,793 vs. expenses $655,886).
Frequently Asked Questions about Harold And Kate Reed Family Foundation
Is Harold And Kate Reed Family Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Harold And Kate Reed Family Foundation (EIN: 203982052) appears legitimate. Mission Score: 95/100. 0 red flags identified, 5 strengths noted.
How does Harold And Kate Reed Family Foundation spend its money?
Harold And Kate Reed Family Foundation directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Harold And Kate Reed Family Foundation tax-deductible?
Harold And Kate Reed Family Foundation is registered as a tax-exempt nonprofit (EIN: 203982052). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Harold And Kate Reed Family Foundation CEO make?
Harold And Kate Reed Family Foundation's highest-compensated officer earns $6 annually. The organization reported $910K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
How does Harold And Kate Reed Family Foundation compare to similar nonprofits?
With a transparency score of 95/100 (Excellent), Harold And Kate Reed Family Foundation is above average for NTEE category T20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Harold And Kate Reed Family Foundation located?
Harold And Kate Reed Family Foundation is headquartered in Minneapolis, Minnesota and files with the IRS under EIN 203982052. It is classified under NTEE code T20.
How many years of IRS 990 filings does Harold And Kate Reed Family Foundation have?
Harold And Kate Reed 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 $910K in total revenue.
Is the Harold And Kate Reed Family Foundation a good charity?
Based on the provided financial data, the foundation appears to be a very good charity. It maintains strong assets, consistently reports 0% officer compensation, and has minimal liabilities, all indicating sound financial management and a high dedication of resources to its mission.
How does the 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, or that any administrative functions are covered by other means not classified as officer compensation, such as contracted services or pro bono work.
What is the trend in the foundation's assets?
The foundation's assets have shown consistent growth over the long term, increasing from $3.39 million in 2011 to $5.86 million in 2023, indicating effective asset management and accumulation.
How stable are the foundation's revenues?
The foundation's revenues have been highly volatile, ranging from a negative value in 2011 to over $2 million in 2015 and $1.48 million in 2021, suggesting reliance on large, infrequent contributions or investment performance rather than consistent, predictable income streams.
What is the foundation's approach to debt?
The foundation consistently reports minimal liabilities, often just $1, indicating an extremely conservative approach to debt and strong financial solvency.
Filing History
IRS 990 filing history for Harold And Kate Reed Family Foundation showing financial trends over 10 years of public records:
Total assets increased by 72.7% over the same period, from $3.4M to $5.9M. Total functional expenses rose by 177.2%, from $237K to $656K. In its most recent filing year (2023), Harold And Kate Reed Family Foundation reported a surplus of $38K, with revenue exceeding expenses. The organization holds $1 in liabilities against $5.9M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $5.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $694K | $656K | $5.9M | $1 | — | View 990 |
| 2022 | $650K | $601K | $5.8M | $1 | — | View 990 |
| 2021 | $1.5M | $425K | $5.8M | $1 | — | View 990 |
| 2020 | $110K | $471K | $5.1M | $1 | — | View 990 |
| 2019 | $466K | $438K | $5.5M | $0 | — | View 990 |
| 2015 | $2.1M | $284K | $5.4M | $0 | — | View 990 |
| 2014 | $193K | $286K | $3.6M | $1 | — | View 990 |
| 2013 | $728K | $247K | $3.7M | $0 | — | View 990 |
| 2012 | $63K | $235K | $3.2M | $0 | — | View 990 |
| 2011 | $-7,153 | $237K | $3.4M | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $694K, expenses of $656K, and assets of $5.9M (revenue +6.8% year-over-year).
- 2022: Revenue of $650K, expenses of $601K, and assets of $5.8M (revenue -56.4% year-over-year).
- 2021: Revenue of $1.5M, expenses of $425K, and assets of $5.8M (revenue +1251.4% year-over-year).
- 2020: Revenue of $110K, expenses of $471K, and assets of $5.1M (revenue -76.3% year-over-year).
- 2019: Revenue of $466K, expenses of $438K, and assets of $5.5M (revenue -77.3% year-over-year).
- 2015: Revenue of $2.1M, expenses of $284K, and assets of $5.4M (revenue +962.8% year-over-year).
- 2014: Revenue of $193K, expenses of $286K, and assets of $3.6M (revenue -73.5% year-over-year).
- 2013: Revenue of $728K, expenses of $247K, and assets of $3.7M (revenue +1060.4% year-over-year).
- 2012: Revenue of $63K, expenses of $235K, and assets of $3.2M.
- 2011: Revenue of $-7,153, expenses of $237K, and assets of $3.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Harold And Kate Reed Family Foundation:
Data Sources and Methodology
This transparency report for Harold And Kate Reed 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.