Kenneth Cornell Charitable Foundation Inc
Kenneth Cornell Charitable Foundation consistently spends more than it earns, drawing on substantial assets.
EIN: 201576755 · Wilmington, DE · NTEE: T22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $460K |
| Total Expenses | $192K |
| Program Spending | 90% |
| Net Assets | $2.3M |
| Transparency Score | 85/100 |
Is Kenneth Cornell Charitable Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Kenneth Cornell Charitable Foundation Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Kenneth Cornell Charitable Foundation Inc
Kenneth Cornell Charitable Foundation Inc (EIN: 201576755) is a nonprofit organization based in Wilmington, DE, classified under NTEE code T22. The organization reported total revenue of $460K and total assets of $2.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Kenneth Cornell Charitable Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Kenneth Cornell Charitable Foundation Inc is a small nonprofit that has been operating for 22 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 0.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $130K |
| Total Expenses | $192K |
| Surplus / Deficit | $-61,941 |
| Total Assets | $2.3M |
| Total Liabilities | $1 |
| Net Assets | $2.3M |
| Operating Margin | -47.8% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 143.6 months |
Financial Health Grade: B
In 2023, Kenneth Cornell Charitable Foundation Inc reported a deficit of $62K with expenses exceeding revenue, holds 143.6 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 Cornell Charitable Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 0.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +22.6% | -11.7% | -2.6% |
| 2022 | -55.6% | +13.2% | -4.5% |
| 2021 | +46.5% | +3.3% | +1.9% |
| 2020 | -0.2% | -3.5% | -0.9% |
| 2019 | -2.1% | +5.1% | -2.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2004 |
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 Cornell Charitable Foundation Inc with a Mission Score of 85 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, Kenneth Cornell Charitable 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 deficit of $62K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that the organization's leadership is either entirely volunteer-based or compensated through other means not classified as officer compensation, which is highly efficient for a foundation of this 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 Kenneth Cornell Charitable Foundation Inc's IRS 990 filings:
- Consistent deficit spending (expenses exceeding revenue) in recent years, potentially eroding asset base.
- Reliance on existing assets to cover operational costs without clear indication of new significant funding sources.
Strengths
The following positive indicators were identified for Kenneth Cornell Charitable Foundation Inc:
- Substantial asset base ($2,329,339 latest reported) provides financial stability.
- Zero reported officer compensation, indicating highly efficient use of funds for mission.
- Consistent IRS 990 filing history demonstrates transparency and compliance.
- Very low liabilities ($1 across all filings) indicates strong financial health and minimal debt.
Frequently Asked Questions about Kenneth Cornell Charitable Foundation Inc
Is Kenneth Cornell Charitable Foundation Inc a legitimate charity?
Kenneth Cornell Charitable Foundation Inc (EIN: 201576755) is a registered tax-exempt nonprofit based in Delaware. Our AI analysis gives it a Mission Score of 85/100. It has 10 years of IRS 990 filings on record. Total revenue: $460K. 2 red flags identified. 4 strengths noted. Financial health grade: B.
How does Kenneth Cornell Charitable Foundation Inc spend its money?
Kenneth Cornell Charitable Foundation Inc directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Kenneth Cornell Charitable Foundation Inc tax-deductible?
Kenneth Cornell Charitable Foundation Inc is registered as a tax-exempt nonprofit (EIN: 201576755). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Kenneth Cornell Charitable Foundation Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Kenneth Cornell Charitable Foundation Inc is above average for NTEE category T22 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Kenneth Cornell Charitable Foundation Inc located?
Kenneth Cornell Charitable Foundation Inc is headquartered in Wilmington, Delaware and files with the IRS under EIN 201576755. It is classified under NTEE code T22.
How many years of IRS 990 filings does Kenneth Cornell Charitable Foundation Inc have?
Kenneth Cornell Charitable 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 $460K in total revenue.
Is the Kenneth Cornell Charitable Foundation Inc financially sustainable given its spending patterns?
While the foundation has substantial assets ($2,291,687 in 2023), its consistent trend of expenses exceeding revenue (e.g., $191,558 expenses vs. $129,617 revenue in 2023) suggests it is drawing down on its principal. This pattern, if continued indefinitely, is not sustainable without new significant revenue streams or a reduction in expenses.
What is the primary source of the foundation's revenue?
The provided data only shows total revenue figures. To understand the primary source (e.g., investments, donations), one would need to examine the detailed revenue breakdown within the full IRS Form 990 filings.
How does the lack of officer compensation impact the organization?
The absence of officer compensation (0% reported) is a strong positive, indicating that a very high percentage of funds can be directed towards the foundation's charitable mission rather than administrative salaries, enhancing its efficiency and public trust.
Filing History
IRS 990 filing history for Kenneth Cornell Charitable Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Kenneth Cornell Charitable Foundation Inc's revenue has grown by 3.6%, moving from $125K to $130K. Total assets decreased by 1.4% over the same period, from $2.3M to $2.3M. Total functional expenses rose by 13.5%, from $169K to $192K. In its most recent filing year (2023), Kenneth Cornell Charitable Foundation Inc reported a deficit of $62K, with expenses exceeding revenue. The organization holds $1 in liabilities against $2.3M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $2.3M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $130K | $192K | $2.3M | $1 | — | View 990 |
| 2022 | $106K | $217K | $2.4M | $1 | — | View 990 |
| 2021 | $238K | $192K | $2.5M | $1 | — | View 990 |
| 2020 | $163K | $186K | $2.4M | $1 | — | View 990 |
| 2019 | $163K | $192K | $2.4M | $1 | — | View 990 |
| 2015 | $166K | $183K | $2.5M | $1 | — | View 990 |
| 2014 | $385K | $180K | $2.5M | $1 | — | View 990 |
| 2013 | $227K | $175K | $2.3M | $1 | — | View 990 |
| 2012 | $116K | $176K | $2.3M | $1 | — | View 990 |
| 2011 | $125K | $169K | $2.3M | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $130K, expenses of $192K, and assets of $2.3M (revenue +22.6% year-over-year).
- 2022: Revenue of $106K, expenses of $217K, and assets of $2.4M (revenue -55.6% year-over-year).
- 2021: Revenue of $238K, expenses of $192K, and assets of $2.5M (revenue +46.5% year-over-year).
- 2020: Revenue of $163K, expenses of $186K, and assets of $2.4M (revenue -0.2% year-over-year).
- 2019: Revenue of $163K, expenses of $192K, and assets of $2.4M (revenue -2.1% year-over-year).
- 2015: Revenue of $166K, expenses of $183K, and assets of $2.5M (revenue -56.7% year-over-year).
- 2014: Revenue of $385K, expenses of $180K, and assets of $2.5M (revenue +69.8% year-over-year).
- 2013: Revenue of $227K, expenses of $175K, and assets of $2.3M (revenue +95.4% year-over-year).
- 2012: Revenue of $116K, expenses of $176K, and assets of $2.3M (revenue -7.3% year-over-year).
- 2011: Revenue of $125K, expenses of $169K, and assets of $2.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Kenneth Cornell Charitable Foundation Inc:
Data Sources and Methodology
This transparency report for Kenneth Cornell Charitable 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.