Kerith Foundation
Kerith Foundation faces consistent operational deficits despite substantial assets and zero officer compensation.
EIN: 202043179 · Hockessin, DE · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $5.1M |
| Total Expenses | $457K |
| Program Spending | 80% |
| Net Assets | $7.1M |
| Transparency Score | 85/100 |
Is Kerith Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Kerith Foundation directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Kerith Foundation
Kerith Foundation (EIN: 202043179) is a nonprofit organization based in Hockessin, DE. The organization reported total revenue of $5.1M and total assets of $7.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Kerith Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Kerith Foundation is a mid-size nonprofit that has been operating for 21 years, with 9 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -5.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $110K |
| Total Expenses | $457K |
| Surplus / Deficit | $-346,954 |
| Total Assets | $7.1M |
| Total Liabilities | $1 |
| Net Assets | $7.1M |
| Operating Margin | -316.6% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 186.2 months |
Financial Health Grade: B
In 2023, Kerith Foundation reported a deficit of $347K with expenses exceeding revenue, holds 186.2 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 9 years of filings (2011–2023), Kerith Foundation's revenue has declined at a compound annual growth rate (CAGR) of -5.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +41.3% | +10.8% | -4.7% |
| 2022 | -96.1% | +20.7% | -4.3% |
| 2021 | +131.2% | -21.4% | +26.5% |
| 2020 | -1.9% | +135.5% | +128.9% |
| 2015 | +796.6% | +24.5% | +22.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2005 |
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 Kerith Foundation 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Kerith Foundation allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% 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 $347K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that no officers or key employees receive salaries from the organization. This is a highly positive indicator of financial efficiency and a strong commitment to directing funds towards the mission.
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 Kerith Foundation's IRS 990 filings:
- Consistent operational deficits (expenses exceeding revenue) in recent years, e.g., $456,532 expenses vs. $109,578 revenue in 2023.
- Declining asset base from $7,766,718 in 2021 to $7,085,175 in 2023, suggesting reliance on reserves.
- Significant year-over-year revenue volatility, making financial planning and sustainability challenging.
Strengths
The following positive indicators were identified for Kerith Foundation:
- Zero officer compensation reported across all filings, indicating high efficiency at the executive level.
- Very low liabilities ($1 in recent years), demonstrating a healthy balance sheet and no significant debt burden.
- Substantial asset base ($7,085,175 in 2023) provides financial stability despite operational deficits.
Frequently Asked Questions about Kerith Foundation
Is Kerith Foundation a legitimate charity?
Kerith Foundation (EIN: 202043179) is a registered tax-exempt nonprofit based in Delaware. Our AI analysis gives it a Mission Score of 85/100. It has 9 years of IRS 990 filings on record. Total revenue: $5.1M. 3 red flags identified. 3 strengths noted. Financial health grade: B.
How does Kerith Foundation spend its money?
Kerith Foundation directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Kerith Foundation tax-deductible?
Kerith Foundation is registered as a tax-exempt nonprofit (EIN: 202043179). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Kerith Foundation's spending goes to programs?
Kerith Foundation directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Kerith Foundation located?
Kerith Foundation is headquartered in Hockessin, Delaware and files with the IRS under EIN 202043179.
How many years of IRS 990 filings does Kerith Foundation have?
Kerith Foundation has 9 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 $5.1M in total revenue.
How does Kerith Foundation sustain its operations with consistent revenue shortfalls?
The organization appears to be drawing from its substantial asset base, which was $7,085,175 in 2023, to cover operational expenses that exceed its annual revenue. This is evident from the consistent decline in assets from $7,766,718 in 2021 to $7,085,175 in 2023, while expenses outpaced revenue.
What are the primary sources of Kerith Foundation's revenue?
While specific sources are not detailed in the provided data, the significant fluctuations in revenue, such as $1,970,816 in 2021 compared to $109,578 in 2023, suggest a reliance on large, potentially infrequent contributions or investment income rather than consistent program service fees or small donor contributions.
What are the main program activities of Kerith Foundation?
The provided data does not specify the program activities. To assess program effectiveness and impact, further details on the nature of their programs would be necessary.
Filing History
IRS 990 filing history for Kerith Foundation showing financial trends over 9 years of public records:
Over 9 years of IRS 990 filings (2011–2023), Kerith Foundation's revenue has declined by 46.7%, moving from $206K to $110K. Total assets increased by 224.2% over the same period, from $2.2M to $7.1M. Total functional expenses rose by 216%, from $144K to $457K. In its most recent filing year (2023), Kerith Foundation reported a deficit of $347K, with expenses exceeding revenue. The organization holds $1 in liabilities against $7.1M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $7.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $110K | $457K | $7.1M | $1 | — | View 990 |
| 2022 | $78K | $412K | $7.4M | $1 | — | View 990 |
| 2021 | $2.0M | $342K | $7.8M | $1 | — | View 990 |
| 2020 | $852K | $434K | $6.1M | $1 | — | — |
| 2015 | $869K | $185K | $2.7M | $1 | — | View 990 |
| 2014 | $97K | $148K | $2.2M | $1 | — | View 990 |
| 2013 | $165K | $149K | $2.2M | $10K | — | View 990 |
| 2012 | $190K | $153K | $2.2M | $1 | — | View 990 |
| 2011 | $206K | $144K | $2.2M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $110K, expenses of $457K, and assets of $7.1M (revenue +41.3% year-over-year).
- 2022: Revenue of $78K, expenses of $412K, and assets of $7.4M (revenue -96.1% year-over-year).
- 2021: Revenue of $2.0M, expenses of $342K, and assets of $7.8M (revenue +131.2% year-over-year).
- 2020: Revenue of $852K, expenses of $434K, and assets of $6.1M (revenue -1.9% year-over-year).
- 2015: Revenue of $869K, expenses of $185K, and assets of $2.7M (revenue +796.6% year-over-year).
- 2014: Revenue of $97K, expenses of $148K, and assets of $2.2M (revenue -41.3% year-over-year).
- 2013: Revenue of $165K, expenses of $149K, and assets of $2.2M (revenue -12.9% year-over-year).
- 2012: Revenue of $190K, expenses of $153K, and assets of $2.2M (revenue -7.7% year-over-year).
- 2011: Revenue of $206K, expenses of $144K, and assets of $2.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Kerith Foundation:
Data Sources and Methodology
This transparency report for Kerith 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.