Kenneth And Phyllis Canary Family Foundation
Kenneth And Phyllis Canary Family Foundation shows declining assets historically, with a recent significant increase in revenue and assets.
EIN: 146199366 · Broadalbin, NY · NTEE: T20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.1M |
| Total Expenses | $77K |
| Program Spending | 90% |
| Net Assets | $167K |
| Transparency Score | 70/100 |
Is Kenneth And Phyllis Canary Family Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Kenneth And Phyllis Canary Family Foundation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Kenneth And Phyllis Canary Family Foundation
Kenneth And Phyllis Canary Family Foundation (EIN: 146199366) is a nonprofit organization based in Broadalbin, NY, classified under NTEE code T20. The organization reported total revenue of $2.1M and total assets of $2.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Kenneth And Phyllis Canary Family Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Kenneth And Phyllis Canary Family Foundation is a mid-size nonprofit that has been operating for 26 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -1.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $11K |
| Total Expenses | $77K |
| Surplus / Deficit | $-65,294 |
| Total Assets | $167K |
| Total Liabilities | $1 |
| Net Assets | $167K |
| Operating Margin | -574.1% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 26.1 months |
Financial Health Grade: B
In 2023, Kenneth And Phyllis Canary Family Foundation reported a deficit of $65K with expenses exceeding revenue, holds 26.1 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), Kenneth And Phyllis Canary Family Foundation's revenue has declined at a compound annual growth rate (CAGR) of -1.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +57.4% | -15.8% | -28.1% |
| 2022 | -83.6% | -0.8% | -26.5% |
| 2021 | +19.1% | -1.4% | -13.1% |
| 2020 | -59.6% | -0.2% | -13.4% |
| 2019 | -21.4% | -44.6% | +30.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2000 |
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 Kenneth And Phyllis Canary Family Foundation with a Mission Score of 70 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: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Kenneth And Phyllis Canary Family 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 deficit of $65K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation has consistently been reported as 0% across all available filings, indicating that the foundation's officers are either unpaid volunteers or compensated through other means not reported as officer compensation, which is common for smaller private foundations.
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 Kenneth And Phyllis Canary Family Foundation's IRS 990 filings:
- Consistent historical decline in assets from 2012 to 2023, indicating a draw-down on principal.
- Expenses frequently exceeding revenue in historical filings, suggesting reliance on asset depletion.
- Significant discrepancy between 'Latest Revenue/Assets' and detailed historical filings, requiring clarification.
Strengths
The following positive indicators were identified for Kenneth And Phyllis Canary Family Foundation:
- Zero reported officer compensation across all filings, indicating efficient executive-level cost management.
- Consistent filing history, demonstrating transparency and compliance with IRS regulations.
- As a private foundation, its primary focus is likely direct grantmaking, aligning with program goals.
Frequently Asked Questions about Kenneth And Phyllis Canary Family Foundation
Is Kenneth And Phyllis Canary Family Foundation a legitimate charity?
Kenneth And Phyllis Canary Family Foundation (EIN: 146199366) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 70/100. It has 10 years of IRS 990 filings on record. Total revenue: $2.1M. 3 red flags identified. 3 strengths noted. Financial health grade: B.
How does Kenneth And Phyllis Canary Family Foundation spend its money?
Kenneth And Phyllis Canary Family Foundation directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Kenneth And Phyllis Canary Family Foundation tax-deductible?
Kenneth And Phyllis Canary Family Foundation is registered as a tax-exempt nonprofit (EIN: 146199366). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Kenneth And Phyllis Canary Family Foundation compare to similar nonprofits?
With a transparency score of 70/100 (Good), Kenneth And Phyllis Canary 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 Kenneth And Phyllis Canary Family Foundation located?
Kenneth And Phyllis Canary Family Foundation is headquartered in Broadalbin, New York and files with the IRS under EIN 146199366. It is classified under NTEE code T20.
How many years of IRS 990 filings does Kenneth And Phyllis Canary Family Foundation have?
Kenneth And Phyllis Canary Family 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 $2.1M in total revenue.
What caused the significant increase in 'Latest Revenue' ($2,141,656) and 'Assets' ($2,137,975) compared to the detailed filing history (e.g., 2023 assets of $166,989)?
The provided data shows a discrepancy between the 'Latest Revenue' and 'Assets' figures and the detailed historical filing data. This could be due to a recent large donation, an inheritance, or a different reporting period for the 'Latest' figures. A review of the most recent full 990 filing would be necessary to understand this change.
What are the specific program activities or grants made by the foundation?
The provided summary data does not detail the specific grants or program activities. As a private grantmaking foundation (NTEE T20), its primary activity would be disbursing grants to other organizations or individuals. A full 990-PF filing would list grant recipients.
How does the foundation manage its investment portfolio, given the historical decline in assets?
The historical decline in assets from $434,291 in 2012 to $166,989 in 2023, while expenses often exceeded revenue, suggests that the foundation has been drawing down its principal. The investment strategy and performance would be detailed in the full 990-PF filing, but the trend indicates a net outflow from the asset base.
Filing History
IRS 990 filing history for Kenneth And Phyllis Canary Family Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Kenneth And Phyllis Canary Family Foundation's revenue has declined by 20.8%, moving from $14K to $11K. Total assets decreased by 55.6% over the same period, from $376K to $167K. Total functional expenses rose by 177.9%, from $28K to $77K. In its most recent filing year (2023), Kenneth And Phyllis Canary Family Foundation reported a deficit of $65K, with expenses exceeding revenue. The organization holds $1 in liabilities against $167K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $167K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $11K | $77K | $167K | $1 | — | View 990 |
| 2022 | $7K | $91K | $232K | $1 | — | View 990 |
| 2021 | $44K | $92K | $316K | $1 | — | View 990 |
| 2020 | $37K | $93K | $364K | $1 | — | View 990 |
| 2019 | $91K | $93K | $420K | $1 | — | View 990 |
| 2015 | $116K | $168K | $322K | $0 | — | View 990 |
| 2014 | $97K | $141K | $374K | $0 | — | View 990 |
| 2013 | $77K | $93K | $419K | $0 | — | View 990 |
| 2012 | $83K | $24K | $434K | $0 | — | View 990 |
| 2011 | $14K | $28K | $376K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $11K, expenses of $77K, and assets of $167K (revenue +57.4% year-over-year).
- 2022: Revenue of $7K, expenses of $91K, and assets of $232K (revenue -83.6% year-over-year).
- 2021: Revenue of $44K, expenses of $92K, and assets of $316K (revenue +19.1% year-over-year).
- 2020: Revenue of $37K, expenses of $93K, and assets of $364K (revenue -59.6% year-over-year).
- 2019: Revenue of $91K, expenses of $93K, and assets of $420K (revenue -21.4% year-over-year).
- 2015: Revenue of $116K, expenses of $168K, and assets of $322K (revenue +20.3% year-over-year).
- 2014: Revenue of $97K, expenses of $141K, and assets of $374K (revenue +25.2% year-over-year).
- 2013: Revenue of $77K, expenses of $93K, and assets of $419K (revenue -6.6% year-over-year).
- 2012: Revenue of $83K, expenses of $24K, and assets of $434K (revenue +475.2% year-over-year).
- 2011: Revenue of $14K, expenses of $28K, and assets of $376K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Kenneth And Phyllis Canary Family Foundation:
Data Sources and Methodology
This transparency report for Kenneth And Phyllis Canary 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.