Khan Foundation Inc
Khan Foundation Inc shows fluctuating revenues but consistent asset growth and no reported officer compensation.
EIN: 200461026 · Chicago, IL · NTEE: T20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $8.9M |
| Total Expenses | $3.7M |
| Program Spending | 85% |
| Net Assets | $6.2M |
| Transparency Score | 75/100 |
Is Khan Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Khan Foundation Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Khan Foundation Inc
Khan Foundation Inc (EIN: 200461026) is a nonprofit organization based in Chicago, IL, classified under NTEE code T20. The organization reported total revenue of $8.9M and total assets of $6.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Khan Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Khan Foundation Inc is a mid-size nonprofit that has been operating for 21 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 14.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $3.5M |
| Total Expenses | $3.7M |
| Surplus / Deficit | $-176,787 |
| Total Assets | $6.2M |
| Total Liabilities | $1 |
| Net Assets | $6.2M |
| Operating Margin | -5.0% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 20.2 months |
Financial Health Grade: B
In 2023, Khan Foundation Inc reported a deficit of $177K with expenses exceeding revenue, holds 20.2 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), Khan Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 14.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -51.4% | -6.3% | -2.8% |
| 2022 | +86.6% | +12219.4% | +4.7% |
| 2021 | +245.2% | -96.1% | +169.1% |
| 2020 | -53.9% | -63.1% | +15.5% |
| 2019 | +99.0% | +35.9% | +4.7% |
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 Khan Foundation Inc with a Mission Score of 75 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: 85%
- fundraising: 5%
According to IRS 990 filings, Khan Foundation Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% 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 $177K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all ten filings, suggesting either a fully volunteer-led executive team or that compensation is structured in a way not reported under this specific line item on the IRS 990.
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 Khan Foundation Inc's IRS 990 filings:
- No reported officer compensation across all filings, which could indicate a lack of transparency regarding executive remuneration or an unusual operational model.
- Significant fluctuations in annual revenue and expenses, making consistent financial planning and performance difficult to assess without further context.
Strengths
The following positive indicators were identified for Khan Foundation Inc:
- Consistent asset growth from $3.5M in 2011 to over $6.2M in 2023, indicating long-term financial stability.
- Minimal liabilities reported across all filings ($0 or $1), suggesting strong financial management and low debt burden.
- Strong financial position in 2022 with revenues of $7,242,371 significantly exceeding expenses of $3,949,356, building reserves.
Frequently Asked Questions about Khan Foundation Inc
Is Khan Foundation Inc a legitimate charity?
Khan Foundation Inc (EIN: 200461026) is a registered tax-exempt nonprofit based in Illinois. Our AI analysis gives it a Mission Score of 75/100. It has 10 years of IRS 990 filings on record. Total revenue: $8.9M. 2 red flags identified. 3 strengths noted. Financial health grade: B.
How does Khan Foundation Inc spend its money?
Khan Foundation Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Khan Foundation Inc tax-deductible?
Khan Foundation Inc is registered as a tax-exempt nonprofit (EIN: 200461026). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Khan Foundation Inc's spending goes to programs?
Khan Foundation Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Khan Foundation Inc compare to similar nonprofits?
With a transparency score of 75/100 (Good), Khan Foundation Inc 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 Khan Foundation Inc located?
Khan Foundation Inc is headquartered in Chicago, Illinois and files with the IRS under EIN 200461026. It is classified under NTEE code T20.
How many years of IRS 990 filings does Khan Foundation Inc have?
Khan 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 $8.9M in total revenue.
How does Khan Foundation Inc sustain its operations without reporting officer compensation?
The IRS 990 filings consistently show 0% officer compensation, which could mean the executive leadership is entirely volunteer-based, or their compensation is reported under a different expense category, or they are compensated by a related entity. Further inquiry into their operational model would be needed.
What are the primary programs or grants funded by Khan Foundation Inc?
Based on the NTEE code T20 (Philanthropy, Voluntarism, and Grantmaking Foundations), Khan Foundation Inc is likely involved in grantmaking. The specific recipients and types of programs funded are not detailed in these high-level financial summaries and would require reviewing the full IRS 990 forms, particularly Schedule I.
Why did expenses exceed revenue in 2023 and several other years?
In 2023, expenses ($3,699,169) slightly exceeded revenue ($3,522,382). This can be due to strategic spending from accumulated reserves, timing differences in grant disbursements, or a temporary dip in fundraising. Similar deficits occurred in 2015, 2013, 2012, and 2011, which is not uncommon for nonprofits, especially if they are drawing down on prior surpluses or making significant investments.
What caused the significant revenue increase in 2022 to $7,242,371?
The substantial increase in revenue in 2022 to $7,242,371 from $3,881,018 in 2021 could be attributed to a large one-time donation, a successful fundraising campaign, or a significant grant. The specific source of this revenue would be detailed in the full IRS 990, Part VIII, Statement of Revenue.
Filing History
IRS 990 filing history for Khan Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Khan Foundation Inc's revenue has grown by 403.2%, moving from $700K to $3.5M. Total assets increased by 75.2% over the same period, from $3.6M to $6.2M. Total functional expenses rose by 119.4%, from $1.7M to $3.7M. In its most recent filing year (2023), Khan Foundation Inc reported a deficit of $177K, with expenses exceeding revenue. The organization holds $1 in liabilities against $6.2M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $6.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $3.5M | $3.7M | $6.2M | $1 | — | View 990 |
| 2022 | $7.2M | $3.9M | $6.4M | $1 | — | View 990 |
| 2021 | $3.9M | $32K | $6.1M | $1 | — | — |
| 2020 | $1.1M | $820K | $2.3M | $1 | — | View 990 |
| 2019 | $2.4M | $2.2M | $2.0M | $0 | — | View 990 |
| 2015 | $1.2M | $1.6M | $1.9M | $0 | — | View 990 |
| 2014 | $1.3M | $663K | $2.4M | $1 | — | View 990 |
| 2013 | $777K | $1.2M | $1.7M | $0 | — | View 990 |
| 2012 | $249K | $1.7M | $2.1M | $0 | — | View 990 |
| 2011 | $700K | $1.7M | $3.6M | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $3.5M, expenses of $3.7M, and assets of $6.2M (revenue -51.4% year-over-year).
- 2022: Revenue of $7.2M, expenses of $3.9M, and assets of $6.4M (revenue +86.6% year-over-year).
- 2021: Revenue of $3.9M, expenses of $32K, and assets of $6.1M (revenue +245.2% year-over-year).
- 2020: Revenue of $1.1M, expenses of $820K, and assets of $2.3M (revenue -53.9% year-over-year).
- 2019: Revenue of $2.4M, expenses of $2.2M, and assets of $2.0M (revenue +99.0% year-over-year).
- 2015: Revenue of $1.2M, expenses of $1.6M, and assets of $1.9M (revenue -6.4% year-over-year).
- 2014: Revenue of $1.3M, expenses of $663K, and assets of $2.4M (revenue +68.7% year-over-year).
- 2013: Revenue of $777K, expenses of $1.2M, and assets of $1.7M (revenue +211.8% year-over-year).
- 2012: Revenue of $249K, expenses of $1.7M, and assets of $2.1M (revenue -64.4% year-over-year).
- 2011: Revenue of $700K, expenses of $1.7M, and assets of $3.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Khan Foundation Inc:
Data Sources and Methodology
This transparency report for Khan 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.