Joseph And Robert Cornell Memorial Foundation
Joseph And Robert Cornell Memorial Foundation maintains robust assets and zero officer compensation amidst fluctuating revenues.
EIN: 133097502 · Charlottesvle, VA · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $19.6M |
| Total Expenses | $5.5M |
| Program Spending | 90% |
| CEO/Top Officer Pay | $64 |
| Net Assets | $59.6M |
| Transparency Score | 95/100 |
Is Joseph And Robert Cornell Memorial Foundation Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Joseph And Robert Cornell Memorial Foundation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Joseph And Robert Cornell Memorial Foundation
Joseph And Robert Cornell Memorial Foundation (EIN: 133097502) is a nonprofit organization based in Charlottesvle, VA. The organization reported total revenue of $19.6M and total assets of $64.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Joseph And Robert Cornell Memorial Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Joseph And Robert Cornell Memorial Foundation is a large nonprofit that has been operating for 42 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 3.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $7.0M |
| Total Expenses | $5.5M |
| Surplus / Deficit | +$1.5M |
| Total Assets | $59.6M |
| Total Liabilities | $1 |
| Net Assets | $59.6M |
| Operating Margin | 21.3% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 129.0 months |
Financial Health Grade: A
In 2023, Joseph And Robert Cornell Memorial Foundation reported a surplus of $1.5M with revenue exceeding expenses, holds 129.0 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), Joseph And Robert Cornell Memorial Foundation's revenue has grown at a compound annual growth rate (CAGR) of 3.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +71.5% | -9.1% | +2.6% |
| 2022 | -69.2% | +18.4% | -3.3% |
| 2021 | +480.9% | +8.7% | +15.7% |
| 2020 | -22.1% | -0.5% | -4.5% |
| 2019 | -14.3% | +8.8% | +5.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1984 |
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 Joseph And Robert Cornell Memorial 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, Joseph And Robert Cornell Memorial 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 $1.5M, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that the foundation's leadership likely serves on a volunteer basis or through contracted services, which is highly efficient for an organization of its size with assets exceeding $64 million.
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 Joseph And Robert Cornell Memorial Foundation:
- Strong and growing asset base, reaching $64.5 million.
- Zero reported officer compensation, indicating highly efficient governance.
- Consistently low liabilities ($1 across all filings), demonstrating financial stability.
- Long history of consistent IRS 990 filings (10 filings), indicating transparency.
- Stable expense levels despite revenue fluctuations, suggesting sound financial management.
Frequently Asked Questions about Joseph And Robert Cornell Memorial Foundation
Is Joseph And Robert Cornell Memorial Foundation a legitimate charity?
Joseph And Robert Cornell Memorial Foundation (EIN: 133097502) is a registered tax-exempt nonprofit based in Virginia. Our AI analysis gives it a Mission Score of 95/100. It has 10 years of IRS 990 filings on record. Total revenue: $19.6M. No red flags identified. 5 strengths noted. Financial health grade: A.
How does Joseph And Robert Cornell Memorial Foundation spend its money?
Joseph And Robert Cornell Memorial Foundation directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Joseph And Robert Cornell Memorial Foundation tax-deductible?
Joseph And Robert Cornell Memorial Foundation is registered as a tax-exempt nonprofit (EIN: 133097502). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Joseph And Robert Cornell Memorial Foundation CEO make?
Joseph And Robert Cornell Memorial Foundation's highest-compensated officer earns $64 annually. The organization reported $19.6M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
Where is Joseph And Robert Cornell Memorial Foundation located?
Joseph And Robert Cornell Memorial Foundation is headquartered in Charlottesvle, Virginia and files with the IRS under EIN 133097502.
How many years of IRS 990 filings does Joseph And Robert Cornell Memorial Foundation have?
Joseph And Robert Cornell Memorial 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 $19.6M in total revenue.
What are the primary sources of the foundation's fluctuating revenue?
Given the nature of a memorial foundation and the significant fluctuations, it is highly probable that investment returns from its substantial asset base are a major component of its revenue, alongside potential donations or bequests.
How does the foundation ensure its operational costs remain low without paid officers?
The foundation likely relies on volunteer board members for governance and oversight, and may outsource administrative functions or have minimal operational overhead, allowing a greater proportion of funds to be directed towards its charitable purpose.
What specific programs or causes does the Joseph And Robert Cornell Memorial Foundation support?
The provided data does not detail specific program areas. Further investigation into the foundation's website or detailed 990 schedules would be necessary to identify its grant-making focus.
Filing History
IRS 990 filing history for Joseph And Robert Cornell Memorial Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Joseph And Robert Cornell Memorial Foundation's revenue has grown by 45.4%, moving from $4.8M to $7.0M. Total assets increased by 37.3% over the same period, from $43.4M to $59.6M. Total functional expenses rose by 144.8%, from $2.3M to $5.5M. In its most recent filing year (2023), Joseph And Robert Cornell Memorial Foundation reported a surplus of $1.5M, with revenue exceeding expenses. The organization holds $1 in liabilities against $59.6M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $59.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $7.0M | $5.5M | $59.6M | $1 | — | View 990 |
| 2022 | $4.1M | $6.1M | $58.1M | $1 | — | View 990 |
| 2021 | $13.3M | $5.2M | $60.1M | $1 | — | — |
| 2020 | $2.3M | $4.7M | $52.0M | $1 | — | — |
| 2019 | $2.9M | $4.8M | $54.4M | $1 | — | View 990 |
| 2015 | $3.4M | $4.4M | $51.6M | $1 | — | View 990 |
| 2014 | $6.2M | $4.0M | $52.6M | $1 | — | View 990 |
| 2013 | $4.5M | $2.5M | $50.4M | $1 | — | View 990 |
| 2012 | $7.6M | $2.7M | $48.4M | $1 | — | View 990 |
| 2011 | $4.8M | $2.3M | $43.4M | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $7.0M, expenses of $5.5M, and assets of $59.6M (revenue +71.5% year-over-year).
- 2022: Revenue of $4.1M, expenses of $6.1M, and assets of $58.1M (revenue -69.2% year-over-year).
- 2021: Revenue of $13.3M, expenses of $5.2M, and assets of $60.1M (revenue +480.9% year-over-year).
- 2020: Revenue of $2.3M, expenses of $4.7M, and assets of $52.0M (revenue -22.1% year-over-year).
- 2019: Revenue of $2.9M, expenses of $4.8M, and assets of $54.4M (revenue -14.3% year-over-year).
- 2015: Revenue of $3.4M, expenses of $4.4M, and assets of $51.6M (revenue -44.4% year-over-year).
- 2014: Revenue of $6.2M, expenses of $4.0M, and assets of $52.6M (revenue +36.1% year-over-year).
- 2013: Revenue of $4.5M, expenses of $2.5M, and assets of $50.4M (revenue -40.2% year-over-year).
- 2012: Revenue of $7.6M, expenses of $2.7M, and assets of $48.4M (revenue +56.8% year-over-year).
- 2011: Revenue of $4.8M, expenses of $2.3M, and assets of $43.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Joseph And Robert Cornell Memorial Foundation:
Data Sources and Methodology
This transparency report for Joseph And Robert Cornell Memorial 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.