Henderson Ky Education Foundation Inc
Henderson Ky Education Foundation Inc. shows volatile revenue and recent asset decline despite no executive compensation.
EIN: 203030575 · Henderson, KY · NTEE: B92 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $63K |
| Total Expenses | $124K |
| Program Spending | 70% |
| Net Assets | $-8,998 |
| Transparency Score | 60/100 |
Is Henderson Ky Education Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Henderson Ky Education Foundation Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Henderson Ky Education Foundation Inc
Henderson Ky Education Foundation Inc (EIN: 203030575) is a nonprofit organization based in Henderson, KY, classified under NTEE code B92. The organization reported total revenue of $63K and total assets of $53K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Henderson Ky Education Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Henderson Ky Education Foundation Inc is a micro nonprofit that has been operating for 21 years, with 10 years of IRS 990 filings on record (2014–2023). Revenue has grown at a compound annual rate of 9.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $77K |
| Total Expenses | $124K |
| Surplus / Deficit | $-46,793 |
| Total Assets | $6K |
| Total Liabilities | $15K |
| Net Assets | $-8,998 |
| Operating Margin | -60.6% |
| Debt-to-Asset Ratio | 244.0% |
| Months of Reserves | 0.6 months |
Financial Health Grade: D
In 2023, Henderson Ky Education Foundation Inc reported a deficit of $47K with expenses exceeding revenue, holds 0.6 months of operating reserves (limited), has a debt-to-asset ratio of 244.0% (high leverage).
Financial Trends
Over 10 years of filings (2014–2023), Henderson Ky Education Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 9.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +86.1% | +329.1% | -88.2% |
| 2022 | +21.9% | -20.4% | +31.1% |
| 2021 | +52.0% | +2.5% | -5.3% |
| 2020 | -60.9% | -10.9% | -7.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| 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 Henderson Ky Education Foundation Inc with a Mission Score of 60 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: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Henderson Ky Education Foundation Inc allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $47K, with expenses exceeding revenue.
- Debt-to-asset ratio: 244.0%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers or key employees received compensation, which is a positive indicator for donor trust and resource allocation directly to the mission.
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 Henderson Ky Education Foundation Inc's IRS 990 filings:
- Highly volatile revenue streams, including multiple years of negative revenue.
- Significant decline in assets from $53,042 to $6,249 in the most recent filing period (202303).
- Expenses ($124,041) significantly exceeded revenue ($77,248) in the latest reported period (202303), leading to a net loss.
- Inconsistent financial performance over the past decade, making long-term planning and sustainability uncertain.
Strengths
The following positive indicators were identified for Henderson Ky Education Foundation Inc:
- Consistent reporting of 0% officer compensation, indicating resources are not used for executive salaries.
- Regular filing of IRS 990s, demonstrating commitment to transparency.
- Long operational history with 10 years of filing data available.
Frequently Asked Questions about Henderson Ky Education Foundation Inc
Is Henderson Ky Education Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Henderson Ky Education Foundation Inc (EIN: 203030575) some concerns. Mission Score: 60/100. 4 red flags identified, 3 strengths noted.
How does Henderson Ky Education Foundation Inc spend its money?
Henderson Ky Education Foundation Inc directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Henderson Ky Education Foundation Inc tax-deductible?
Henderson Ky Education Foundation Inc is registered as a tax-exempt nonprofit (EIN: 203030575). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Henderson Ky Education Foundation Inc's spending goes to programs?
Henderson Ky Education Foundation Inc directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
How does Henderson Ky Education Foundation Inc compare to similar nonprofits?
With a transparency score of 60/100 (Good), Henderson Ky Education Foundation Inc is above average for NTEE category B92 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Henderson Ky Education Foundation Inc located?
Henderson Ky Education Foundation Inc is headquartered in Henderson, Kentucky and files with the IRS under EIN 203030575. It is classified under NTEE code B92.
How many years of IRS 990 filings does Henderson Ky Education Foundation Inc have?
Henderson Ky Education Foundation Inc 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 $63K in total revenue.
Why did assets drop so significantly from $53,042 in 202203 to $6,249 in 202303?
The provided data shows a substantial decrease in assets, suggesting significant expenditures or losses that outpaced revenue in the 202303 period, where expenses ($124,041) far exceeded revenue ($77,248).
What caused the negative revenue reported in multiple years (e.g., 201803, 201703)?
Negative revenue can occur due to significant returns of contributions, investment losses, or other non-operating deductions exceeding gross receipts. Further detail from the full 990 filings would be needed to pinpoint the exact cause.
How does the organization plan to address the recurring trend of expenses exceeding revenue?
The financial data indicates that expenses frequently surpass revenue, particularly in recent years. The organization would need to articulate a strategy for sustainable funding or expense management to ensure long-term viability.
Filing History
IRS 990 filing history for Henderson Ky Education Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2014–2023), Henderson Ky Education Foundation Inc's revenue has grown by 129.3%, moving from $34K to $77K. Total assets decreased by 89.6% over the same period, from $60K to $6K. Total functional expenses rose by 9297%, from $1K to $124K. In its most recent filing year (2023), Henderson Ky Education Foundation Inc reported a deficit of $47K, with expenses exceeding revenue. The organization holds $15K in liabilities against $6K in assets (debt-to-asset ratio: 244.0%), resulting in net assets of $-8,998.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $77K | $124K | $6K | $15K | — | View 990 |
| 2022 | $42K | $29K | $53K | $15K | — | View 990 |
| 2021 | $34K | $36K | $40K | $15K | — | View 990 |
| 2020 | $22K | $35K | $43K | $15K | — | View 990 |
| 2019 | $57K | $40K | $46K | $6K | — | View 990 |
| 2018 | $-10,693 | $3K | $30K | $7K | — | View 990 |
| 2017 | $-5,162 | $695 | $54K | $18K | — | View 990 |
| 2016 | $-4,071 | $744 | $50K | $8K | — | View 990 |
| 2015 | $-6,310 | $993 | $55K | $8K | — | — |
| 2014 | $34K | $1K | $60K | $6K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $77K, expenses of $124K, and assets of $6K (revenue +86.1% year-over-year).
- 2022: Revenue of $42K, expenses of $29K, and assets of $53K (revenue +21.9% year-over-year).
- 2021: Revenue of $34K, expenses of $36K, and assets of $40K (revenue +52.0% year-over-year).
- 2020: Revenue of $22K, expenses of $35K, and assets of $43K (revenue -60.9% year-over-year).
- 2019: Revenue of $57K, expenses of $40K, and assets of $46K.
- 2018: Revenue of $-10,693, expenses of $3K, and assets of $30K.
- 2017: Revenue of $-5,162, expenses of $695, and assets of $54K.
- 2016: Revenue of $-4,071, expenses of $744, and assets of $50K.
- 2015: Revenue of $-6,310, expenses of $993, and assets of $55K (revenue -118.7% year-over-year).
- 2014: Revenue of $34K, expenses of $1K, and assets of $60K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Henderson Ky Education Foundation Inc:
Data Sources and Methodology
This transparency report for Henderson Ky Education Foundation Inc 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.