Knapp Swezey Foundation Inc
Knapp Swezey Foundation consistently operates at a deficit, distributing funds from a declining asset base with no reported officer compensation.
EIN: 113038738 · Patchogue, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $109.7M |
| Total Expenses | $3.0M |
| Program Spending | 90% |
| Net Assets | $14.2M |
| Transparency Score | 75/100 |
Is Knapp Swezey Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Knapp Swezey Foundation Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Knapp Swezey Foundation Inc
Knapp Swezey Foundation Inc (EIN: 113038738) is a nonprofit organization based in Patchogue, NY. The organization reported total revenue of $109.7M and total assets of $17.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Knapp Swezey Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Knapp Swezey Foundation Inc is a major nonprofit that has been operating for 36 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -32.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $211K |
| Total Expenses | $3.0M |
| Surplus / Deficit | $-2,821,962 |
| Total Assets | $14.2M |
| Total Liabilities | $1 |
| Net Assets | $14.2M |
| Operating Margin | -1335.1% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 56.4 months |
Financial Health Grade: B
In 2023, Knapp Swezey Foundation Inc reported a deficit of $2.8M with expenses exceeding revenue, holds 56.4 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), Knapp Swezey Foundation Inc's revenue has declined at a compound annual growth rate (CAGR) of -32.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -83.4% | -14.9% | -16.6% |
| 2022 | +52.8% | +46.2% | -11.9% |
| 2021 | -4.6% | -23.3% | -7.8% |
| 2020 | +40.5% | +1.7% | -9.9% |
| 2019 | -84.5% | -52.7% | -7.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1990 |
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 Knapp Swezey 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: 90%
- fundraising: 0%
According to IRS 990 filings, Knapp Swezey 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 $2.8M, 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 no salaries or other compensation are paid to officers, directors, or trustees, which is highly favorable for minimizing administrative costs.
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 Knapp Swezey Foundation Inc's IRS 990 filings:
- Consistent operating deficits, with expenses significantly exceeding revenue in most years, which could indicate unsustainable spending if not managed by endowment drawdowns.
- Declining asset base over the past decade, from $37M in 2011 to $14M in 2023, raising questions about long-term financial sustainability if the trend continues without replenishment.
Strengths
The following positive indicators were identified for Knapp Swezey Foundation Inc:
- 0% officer compensation reported across all filings, indicating very low administrative overhead related to executive pay.
- Consistent history of significant expenditures (grants), suggesting active fulfillment of its philanthropic mission.
- Low liabilities reported in most years, indicating a healthy balance sheet in terms of debt.
Frequently Asked Questions about Knapp Swezey Foundation Inc
Is Knapp Swezey Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Knapp Swezey Foundation Inc (EIN: 113038738) some concerns. Mission Score: 75/100. 2 red flags identified, 3 strengths noted.
How does Knapp Swezey Foundation Inc spend its money?
Knapp Swezey Foundation Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Knapp Swezey Foundation Inc tax-deductible?
Knapp Swezey Foundation Inc is registered as a tax-exempt nonprofit (EIN: 113038738). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Knapp Swezey Foundation Inc located?
Knapp Swezey Foundation Inc is headquartered in Patchogue, New York and files with the IRS under EIN 113038738.
How many years of IRS 990 filings does Knapp Swezey Foundation Inc have?
Knapp Swezey 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 $109.7M in total revenue.
Is Knapp Swezey Foundation Inc. a good charity?
As a grant-making foundation with 0% officer compensation and a history of significant distributions (evidenced by expenses consistently exceeding revenue and declining assets), it appears to be an efficient vehicle for philanthropic giving. Its 'goodness' depends on the impact of the grants it makes, which is not detailed in this financial data.
Why does the foundation consistently spend more than it earns?
This is typical for private foundations that primarily distribute grants from their endowment. They often draw down on their principal or rely on investment returns that may not always be realized as 'revenue' in a given year, especially if the market is down or if they are intentionally spending down their assets.
What is the trend of the foundation's assets?
The foundation's assets have shown a significant downward trend, decreasing from $37,104,392 in 2011 to $14,249,932 in 2023. This suggests substantial distributions or investment losses over the period.
Filing History
IRS 990 filing history for Knapp Swezey Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Knapp Swezey Foundation Inc's revenue has declined by 99.1%, moving from $22.3M to $211K. Total assets decreased by 61.6% over the same period, from $37.1M to $14.2M. Total functional expenses rose by 81.2%, from $1.7M to $3.0M. In its most recent filing year (2023), Knapp Swezey Foundation Inc reported a deficit of $2.8M, with expenses exceeding revenue. The organization holds $1 in liabilities against $14.2M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $14.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $211K | $3.0M | $14.2M | $1 | — | View 990 |
| 2022 | $1.3M | $3.6M | $17.1M | $1 | — | View 990 |
| 2021 | $832K | $2.4M | $19.4M | $878 | — | View 990 |
| 2020 | $873K | $3.2M | $21.0M | $7K | — | View 990 |
| 2019 | $621K | $3.1M | $23.3M | $0 | — | View 990 |
| 2015 | $4.0M | $6.6M | $25.2M | $2K | — | View 990 |
| 2014 | $2.5M | $6.8M | $27.9M | $0 | — | View 990 |
| 2013 | $2.8M | $4.2M | $32.3M | $0 | — | View 990 |
| 2012 | $565K | $3.6M | $33.8M | $0 | — | View 990 |
| 2011 | $22.3M | $1.7M | $37.1M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $211K, expenses of $3.0M, and assets of $14.2M (revenue -83.4% year-over-year).
- 2022: Revenue of $1.3M, expenses of $3.6M, and assets of $17.1M (revenue +52.8% year-over-year).
- 2021: Revenue of $832K, expenses of $2.4M, and assets of $19.4M (revenue -4.6% year-over-year).
- 2020: Revenue of $873K, expenses of $3.2M, and assets of $21.0M (revenue +40.5% year-over-year).
- 2019: Revenue of $621K, expenses of $3.1M, and assets of $23.3M (revenue -84.5% year-over-year).
- 2015: Revenue of $4.0M, expenses of $6.6M, and assets of $25.2M (revenue +60.2% year-over-year).
- 2014: Revenue of $2.5M, expenses of $6.8M, and assets of $27.9M (revenue -9.3% year-over-year).
- 2013: Revenue of $2.8M, expenses of $4.2M, and assets of $32.3M (revenue +387.4% year-over-year).
- 2012: Revenue of $565K, expenses of $3.6M, and assets of $33.8M (revenue -97.5% year-over-year).
- 2011: Revenue of $22.3M, expenses of $1.7M, and assets of $37.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Knapp Swezey Foundation Inc:
Data Sources and Methodology
This transparency report for Knapp Swezey 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.