Kanak & Prabha Golia Foundation
Kanak & Prabha Golia Foundation shows consistent asset growth and no officer compensation, directing significant funds to its mission.
EIN: 208427663 · Manhasset, NY · NTEE: B12 · Updated: 2026-03-28
Is Kanak & Prabha Golia Foundation Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Kanak & Prabha Golia Foundation directs 95% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Kanak & Prabha Golia Foundation
Kanak & Prabha Golia Foundation (EIN: 208427663) is a nonprofit organization based in Manhasset, NY, classified under NTEE code B12. The organization reported total revenue of $4.6M and total assets of $15.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Kanak & Prabha Golia Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Kanak & Prabha Golia Foundation is a mid-size nonprofit that has been operating for 17 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 17.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $3.6M |
| Total Expenses | $819K |
| Surplus / Deficit | +$2.7M |
| Total Assets | $12.5M |
| Total Liabilities | $1 |
| Net Assets | $12.5M |
| Operating Margin | 77.0% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 183.5 months |
Financial Health Grade: A
In 2023, Kanak & Prabha Golia Foundation reported a surplus of $2.7M with revenue exceeding expenses, holds 183.5 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), Kanak & Prabha Golia Foundation's revenue has grown at a compound annual growth rate (CAGR) of 17.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +7.7% | +46.8% | +28.0% |
| 2022 | +3.1% | +47.9% | +39.2% |
| 2021 | +556.6% | +55.8% | +67.4% |
| 2020 | +95.9% | -23.0% | +6.9% |
| 2019 | -43.4% | +76.6% | +22.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2009 |
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 Kanak & Prabha Golia Foundation with a Mission Score of 92 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: 5%
- programs: 95%
- fundraising: 0%
According to IRS 990 filings, Kanak & Prabha Golia Foundation allocates its expenses as follows: admin: 5%, programs: 95%, fundraising: 0%. With 95% 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 $2.7M, 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 officers or key employees are not drawing salaries from the foundation, which is highly favorable for maximizing funds directed to charitable activities.
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 Kanak & Prabha Golia Foundation:
- Consistent and significant asset growth, reaching $12,526,543 in 2023.
- Extremely low liabilities, often reported as $1, indicating strong financial health.
- No reported officer compensation, maximizing funds for charitable purposes.
- High program spending efficiency, with a large portion of expenses directed to mission.
- Strong revenue growth in recent years, enhancing capacity for impact.
Frequently Asked Questions about Kanak & Prabha Golia Foundation
Is Kanak & Prabha Golia Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Kanak & Prabha Golia Foundation (EIN: 208427663) appears legitimate. Mission Score: 92/100. 0 red flags identified, 5 strengths noted.
How does Kanak & Prabha Golia Foundation spend its money?
Kanak & Prabha Golia Foundation directs 95% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Kanak & Prabha Golia Foundation tax-deductible?
Kanak & Prabha Golia Foundation is registered as a tax-exempt nonprofit (EIN: 208427663). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is the Kanak & Prabha Golia Foundation financially stable?
Yes, the foundation is highly financially stable, evidenced by its consistently growing assets, reaching $12,526,543 in 2023, and extremely low liabilities (often $1).
How much of the foundation's money goes to programs?
Based on the absence of officer compensation and low overall expenses relative to revenue, a very high percentage of the foundation's expenditures, estimated around 95%, is directed towards its programs and mission.
Does the foundation pay its executives?
No, the IRS 990 filings consistently report 0% for officer compensation, indicating that the foundation does not pay its executives.
Has the foundation's revenue been growing?
Yes, the foundation has experienced significant revenue growth, particularly in recent years, increasing from $489,250 in 2020 to $3,567,461 in 2023.
Filing History
IRS 990 filing history for Kanak & Prabha Golia Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Kanak & Prabha Golia Foundation's revenue has grown by 609.8%, moving from $503K to $3.6M. Total assets increased by 598.7% over the same period, from $1.8M to $12.5M. Total functional expenses rose by 745.3%, from $97K to $819K. In its most recent filing year (2023), Kanak & Prabha Golia Foundation reported a surplus of $2.7M, with revenue exceeding expenses. The organization holds $1 in liabilities against $12.5M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $12.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $3.6M | $819K | $12.5M | $1 | — | — |
| 2022 | $3.3M | $558K | $9.8M | $1 | — | View 990 |
| 2021 | $3.2M | $377K | $7.0M | $2K | — | View 990 |
| 2020 | $489K | $242K | $4.2M | $5K | — | View 990 |
| 2019 | $250K | $314K | $3.9M | $14K | — | — |
| 2015 | $441K | $178K | $3.2M | $2K | — | View 990 |
| 2014 | $527K | $156K | $2.9M | $1 | — | View 990 |
| 2013 | $522K | $135K | $2.6M | $1 | — | View 990 |
| 2012 | $511K | $117K | $2.2M | $1 | — | View 990 |
| 2011 | $503K | $97K | $1.8M | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $3.6M, expenses of $819K, and assets of $12.5M (revenue +7.7% year-over-year).
- 2022: Revenue of $3.3M, expenses of $558K, and assets of $9.8M (revenue +3.1% year-over-year).
- 2021: Revenue of $3.2M, expenses of $377K, and assets of $7.0M (revenue +556.6% year-over-year).
- 2020: Revenue of $489K, expenses of $242K, and assets of $4.2M (revenue +95.9% year-over-year).
- 2019: Revenue of $250K, expenses of $314K, and assets of $3.9M (revenue -43.4% year-over-year).
- 2015: Revenue of $441K, expenses of $178K, and assets of $3.2M (revenue -16.3% year-over-year).
- 2014: Revenue of $527K, expenses of $156K, and assets of $2.9M (revenue +1.1% year-over-year).
- 2013: Revenue of $522K, expenses of $135K, and assets of $2.6M (revenue +2.0% year-over-year).
- 2012: Revenue of $511K, expenses of $117K, and assets of $2.2M (revenue +1.7% year-over-year).
- 2011: Revenue of $503K, expenses of $97K, and assets of $1.8M.
Data Sources and Methodology
This transparency report for Kanak & Prabha Golia 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.