Joe Beasley Memorial Foundation Inc
Joe Beasley Memorial Foundation operates with minimal annual revenue and expenses, maintaining a stable asset base.
EIN: 10649656 · Bessemer, AL · NTEE: A68 · Updated: 2026-03-27
Is Joe Beasley Memorial Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Joe Beasley Memorial Foundation Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Joe Beasley Memorial Foundation Inc
Joe Beasley Memorial Foundation Inc (EIN: 10649656) is a nonprofit organization based in Bessemer, AL, classified under NTEE code A68. The organization reported total revenue of $11 and total assets of $244K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Joe Beasley Memorial Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Joe Beasley Memorial Foundation Inc is a micro nonprofit that has been operating for 24 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -14.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2K |
| Total Expenses | $2K |
| Surplus / Deficit | +$32 |
| Total Assets | $247K |
| Net Assets | $247K |
| Operating Margin | 1.5% |
| Months of Reserves | 1452.9 months |
Financial Health Grade: A
In 2023, Joe Beasley Memorial Foundation Inc reported a surplus of $32 with revenue exceeding expenses, holds 1452.9 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2011–2023), Joe Beasley Memorial Foundation Inc's revenue has declined at a compound annual growth rate (CAGR) of -14.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -39.5% | -35.7% | +0.0% |
| 2022 | +1.1% | -3.8% | +0.1% |
| 2021 | +36.8% | -17.3% | +0.0% |
| 2020 | -64.3% | -21.8% | -2.6% |
| 2019 | -5.2% | -16.7% | -1.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2002 |
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 Joe Beasley Memorial Foundation Inc with a Mission Score of 50 out of 100 (Fair). 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, Joe Beasley Memorial Foundation Inc 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 $32, with revenue exceeding expenses.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no executive salaries are paid, which is highly efficient for a nonprofit of any size.
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 Joe Beasley Memorial Foundation Inc's IRS 990 filings:
- Extremely low operational revenue and expenses relative to assets, raising questions about active program impact.
- Latest reported revenue of $11 is exceptionally low, suggesting minimal financial activity.
Strengths
The following positive indicators were identified for Joe Beasley Memorial Foundation Inc:
- Consistent 0% officer compensation, indicating no executive salary burden.
- Stable asset base of over $244,000 with no reported liabilities in recent years, demonstrating financial stability.
- Consistent IRS 990 filing history, indicating transparency in reporting.
Frequently Asked Questions about Joe Beasley Memorial Foundation Inc
Is Joe Beasley Memorial Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Joe Beasley Memorial Foundation Inc (EIN: 10649656) some concerns. Mission Score: 50/100. 2 red flags identified, 3 strengths noted.
How does Joe Beasley Memorial Foundation Inc spend its money?
Joe Beasley Memorial Foundation Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Joe Beasley Memorial Foundation Inc tax-deductible?
Joe Beasley Memorial Foundation Inc is registered as a tax-exempt nonprofit (EIN: 10649656). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What are the primary activities or programs of the Joe Beasley Memorial Foundation Inc, given its minimal operational expenses?
With expenses consistently under $7,000 annually and as low as $2,044 in 2023, the foundation's primary activities are likely very limited in scope or involve minimal direct financial outlay, possibly focusing on asset management or very small-scale initiatives.
How does the organization sustain its asset base of over $244,000 with such low annual revenues?
The consistent asset base, despite low revenues, suggests that the assets are likely held in investments or endowments, and the organization's operational income is not primarily used to grow this base but rather to cover minimal administrative costs.
Is the Joe Beasley Memorial Foundation Inc primarily an asset-holding entity rather than an active program-delivering charity?
Given the substantial assets and extremely low operational revenue and expenses, it appears the foundation may function more as an asset-holding entity, with very limited active program delivery or grant-making activities.
Filing History
IRS 990 filing history for Joe Beasley Memorial Foundation Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Joe Beasley Memorial Foundation Inc's revenue has declined by 84%, moving from $13K to $2K. Total assets decreased by 12% over the same period, from $281K to $247K. Total functional expenses fell by 75.7%, from $8K to $2K. In its most recent filing year (2023), Joe Beasley Memorial Foundation Inc reported a surplus of $32, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2K | $2K | $247K | $0 | — | — |
| 2022 | $3K | $3K | $247K | $0 | — | View 990 |
| 2021 | $3K | $3K | $247K | $0 | — | View 990 |
| 2020 | $2K | $4K | $247K | $0 | — | View 990 |
| 2019 | $7K | $5K | $254K | $5K | — | View 990 |
| 2018 | $7K | $6K | $257K | $10K | — | View 990 |
| 2017 | $8K | $7K | $261K | $15K | — | View 990 |
| 2016 | $8K | $6K | $265K | $20K | — | View 990 |
| 2015 | $9K | $8K | $268K | $25K | — | View 990 |
| 2014 | $10K | $8K | $272K | $30K | — | View 990 |
| 2013 | $11K | $8K | $275K | $35K | — | View 990 |
| 2012 | $10K | $8K | $278K | $40K | — | View 990 |
| 2011 | $13K | $8K | $281K | $45K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2K, expenses of $2K, and assets of $247K (revenue -39.5% year-over-year).
- 2022: Revenue of $3K, expenses of $3K, and assets of $247K (revenue +1.1% year-over-year).
- 2021: Revenue of $3K, expenses of $3K, and assets of $247K (revenue +36.8% year-over-year).
- 2020: Revenue of $2K, expenses of $4K, and assets of $247K (revenue -64.3% year-over-year).
- 2019: Revenue of $7K, expenses of $5K, and assets of $254K (revenue -5.2% year-over-year).
- 2018: Revenue of $7K, expenses of $6K, and assets of $257K (revenue -3.3% year-over-year).
- 2017: Revenue of $8K, expenses of $7K, and assets of $261K (revenue -3.6% year-over-year).
- 2016: Revenue of $8K, expenses of $6K, and assets of $265K (revenue -11.6% year-over-year).
- 2015: Revenue of $9K, expenses of $8K, and assets of $268K (revenue -7.5% year-over-year).
- 2014: Revenue of $10K, expenses of $8K, and assets of $272K (revenue -11.4% year-over-year).
- 2013: Revenue of $11K, expenses of $8K, and assets of $275K (revenue +11.0% year-over-year).
- 2012: Revenue of $10K, expenses of $8K, and assets of $278K (revenue -24.8% year-over-year).
- 2011: Revenue of $13K, expenses of $8K, and assets of $281K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Joe Beasley Memorial Foundation Inc:
Data Sources and Methodology
This transparency report for Joe Beasley Memorial 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.