Harry H Gibson Family Foundation
Harry H Gibson Family Foundation consistently spends more than it earns, leading to a halving of assets over the past decade.
EIN: 205338528 · Spartanburg, SC · NTEE: T20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $199K |
| Total Expenses | $261K |
| Program Spending | 85% |
| Net Assets | $976K |
| Transparency Score | 65/100 |
Is Harry H Gibson Family Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Harry H Gibson Family Foundation directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Harry H Gibson Family Foundation
Harry H Gibson Family Foundation (EIN: 205338528) is a nonprofit organization based in Spartanburg, SC, classified under NTEE code T20. The organization reported total revenue of $199K and total assets of $994K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Harry H Gibson Family Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Harry H Gibson Family Foundation is a small nonprofit that has been operating for 19 years, with 9 years of IRS 990 filings on record (2011–2022). Revenue has grown at a compound annual rate of 3.2%.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
| Total Revenue | $167K |
| Total Expenses | $261K |
| Surplus / Deficit | $-94,356 |
| Total Assets | $976K |
| Total Liabilities | $1 |
| Net Assets | $976K |
| Operating Margin | -56.5% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 44.8 months |
Financial Health Grade: B
In 2022, Harry H Gibson Family Foundation reported a deficit of $94K with expenses exceeding revenue, holds 44.8 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 9 years of filings (2011–2022), Harry H Gibson Family Foundation's revenue has grown at a compound annual growth rate (CAGR) of 3.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | -49.3% | +18.6% | -8.8% |
| 2021 | +524.7% | -7.4% | +11.3% |
| 2020 | -49.8% | -0.8% | -16.1% |
| 2019 | -46.2% | -5.8% | -22.7% |
| 2015 | +77.7% | +2.7% | -3.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| 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 Harry H Gibson Family Foundation with a Mission Score of 65 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: 85%
- fundraising: 0%
According to IRS 990 filings, Harry H Gibson Family Foundation allocates its expenses as follows: admin: 15%, programs: 85%, fundraising: 0%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $94K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The organization reports 0% officer compensation across all available filings, indicating that its leadership is either unpaid or compensated through other means not categorized as officer compensation, which is a positive for resource allocation.
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 Harry H Gibson Family Foundation's IRS 990 filings:
- Consistent deficit spending (expenses exceeding revenue) across multiple years, e.g., $261,239 expenses vs. $166,883 revenue in 2022.
- Significant decline in total assets over time, from $1,912,404 in 2011 to $976,292 in 2022, indicating asset depletion.
Strengths
The following positive indicators were identified for Harry H Gibson Family Foundation:
- Zero officer compensation reported, indicating efficient use of funds for leadership.
- Extremely low liabilities ($1 across all periods), demonstrating strong balance sheet management regarding debt.
Frequently Asked Questions about Harry H Gibson Family Foundation
Is Harry H Gibson Family Foundation a legitimate charity?
Harry H Gibson Family Foundation (EIN: 205338528) is a registered tax-exempt nonprofit based in South Carolina. Our AI analysis gives it a Mission Score of 65/100. It has 9 years of IRS 990 filings on record. Total revenue: $199K. 2 red flags identified. 2 strengths noted. Financial health grade: B.
How does Harry H Gibson Family Foundation spend its money?
Harry H Gibson Family Foundation directs 85% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Harry H Gibson Family Foundation tax-deductible?
Harry H Gibson Family Foundation is registered as a tax-exempt nonprofit (EIN: 205338528). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Harry H Gibson Family Foundation compare to similar nonprofits?
With a transparency score of 65/100 (Good), Harry H Gibson 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 Harry H Gibson Family Foundation located?
Harry H Gibson Family Foundation is headquartered in Spartanburg, South Carolina and files with the IRS under EIN 205338528. It is classified under NTEE code T20.
How many years of IRS 990 filings does Harry H Gibson Family Foundation have?
Harry H Gibson Family Foundation has 9 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 $199K in total revenue.
Is the Harry H Gibson Family Foundation financially sustainable given its spending patterns?
The foundation has consistently spent more than its revenue for many years, leading to a significant decline in assets from over $1.9 million in 2011 to under $1 million in 2022. This trend suggests that its current spending model is not sustainable in the long term without increased revenue or reduced expenditures.
What is the primary purpose of the Harry H Gibson Family Foundation?
As a private foundation (NTEE T20), its primary purpose is typically to make grants to other organizations or individuals, rather than directly operating charitable programs. The filings do not provide specific details on the types of grants or beneficiaries.
How does the lack of officer compensation impact the foundation?
The absence of officer compensation means that a greater proportion of the foundation's funds can be directed towards its charitable mission, improving its spending efficiency and demonstrating a commitment to maximizing impact.
Filing History
IRS 990 filing history for Harry H Gibson Family Foundation showing financial trends over 9 years of public records:
Over 9 years of IRS 990 filings (2011–2022), Harry H Gibson Family Foundation's revenue has grown by 42.1%, moving from $117K to $167K. Total assets decreased by 48.9% over the same period, from $1.9M to $976K. Total functional expenses rose by 46.7%, from $178K to $261K. In its most recent filing year (2022), Harry H Gibson Family Foundation reported a deficit of $94K, with expenses exceeding revenue. The organization holds $1 in liabilities against $976K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $976K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2022 | $167K | $261K | $976K | $1 | — | View 990 |
| 2021 | $329K | $220K | $1.1M | $1 | — | — |
| 2020 | $53K | $238K | $962K | $1 | — | — |
| 2019 | $105K | $240K | $1.1M | $1 | — | View 990 |
| 2015 | $195K | $254K | $1.5M | $1 | — | View 990 |
| 2014 | $110K | $248K | $1.5M | $1 | — | View 990 |
| 2013 | $132K | $254K | $1.7M | $1 | — | View 990 |
| 2012 | $140K | $251K | $1.8M | $1 | — | View 990 |
| 2011 | $117K | $178K | $1.9M | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2022: Revenue of $167K, expenses of $261K, and assets of $976K (revenue -49.3% year-over-year).
- 2021: Revenue of $329K, expenses of $220K, and assets of $1.1M (revenue +524.7% year-over-year).
- 2020: Revenue of $53K, expenses of $238K, and assets of $962K (revenue -49.8% year-over-year).
- 2019: Revenue of $105K, expenses of $240K, and assets of $1.1M (revenue -46.2% year-over-year).
- 2015: Revenue of $195K, expenses of $254K, and assets of $1.5M (revenue +77.7% year-over-year).
- 2014: Revenue of $110K, expenses of $248K, and assets of $1.5M (revenue -17.0% year-over-year).
- 2013: Revenue of $132K, expenses of $254K, and assets of $1.7M (revenue -5.2% year-over-year).
- 2012: Revenue of $140K, expenses of $251K, and assets of $1.8M (revenue +19.1% year-over-year).
- 2011: Revenue of $117K, expenses of $178K, and assets of $1.9M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Harry H Gibson Family Foundation:
Data Sources and Methodology
This transparency report for Harry H Gibson 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.