Leo Claire & Robert Adenbaum Foundation
Leo Claire & Robert Adenbaum Foundation consistently allocates 75% of expenses to programs with no officer compensation.
EIN: 116013398 · N Palm Beach, FL · Updated: 2026-03-28
Is Leo Claire & Robert Adenbaum Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Leo Claire & Robert Adenbaum Foundation directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Leo Claire & Robert Adenbaum Foundation
Leo Claire & Robert Adenbaum Foundation (EIN: 116013398) is a nonprofit organization based in N Palm Beach, FL. The organization reported total revenue of $2.4M and total assets of $8.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Leo Claire & Robert Adenbaum Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Leo Claire & Robert Adenbaum Foundation is a mid-size nonprofit that has been operating for 64 years, with 10 years of IRS 990 filings on record (2010–2022). Revenue has grown at a compound annual rate of -2.0%.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
| Total Revenue | $736K |
| Total Expenses | $717K |
| Surplus / Deficit | +$19K |
| Total Assets | $8.7M |
| Total Liabilities | $2K |
| Net Assets | $8.7M |
| Operating Margin | 2.5% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 145.6 months |
Financial Health Grade: A
In 2022, Leo Claire & Robert Adenbaum Foundation reported a surplus of $19K with revenue exceeding expenses, holds 145.6 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 (2010–2022), Leo Claire & Robert Adenbaum Foundation's revenue has declined at a compound annual growth rate (CAGR) of -2.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | -8.1% | -23.4% | -0.2% |
| 2021 | +65.5% | +2.4% | -1.6% |
| 2020 | -10.1% | +12.9% | -4.1% |
| 2019 | -93.3% | -40.0% | -10.2% |
| 2015 | +39534.4% | +583.4% | +220.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1270 |
| IRS Ruling Date | 1962 |
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 Leo Claire & Robert Adenbaum 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: 75%
- fundraising: 10%
According to IRS 990 filings, Leo Claire & Robert Adenbaum Foundation allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $19K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The organization reports 0% officer compensation across all available filings, indicating that its leadership is either unpaid or compensated through other means not classified as officer compensation, which is a positive sign for resource allocation directly to its 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 Leo Claire & Robert Adenbaum Foundation's IRS 990 filings:
- Expenses frequently exceed revenue in recent periods (e.g., 2021, 2020), leading to asset depletion.
- Significant fluctuation in annual revenue, making financial planning potentially challenging.
Strengths
The following positive indicators were identified for Leo Claire & Robert Adenbaum Foundation:
- Strong program spending ratio (75% in 2022) indicates a focus on mission.
- No reported officer compensation, suggesting efficient use of funds.
- Consistent IRS 990 filing history demonstrates transparency.
- Substantial asset base ($8,325,033) provides financial stability.
Frequently Asked Questions about Leo Claire & Robert Adenbaum Foundation
Is Leo Claire & Robert Adenbaum Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Leo Claire & Robert Adenbaum Foundation (EIN: 116013398) some concerns. Mission Score: 85/100. 2 red flags identified, 4 strengths noted.
How does Leo Claire & Robert Adenbaum Foundation spend its money?
Leo Claire & Robert Adenbaum Foundation directs 75% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Leo Claire & Robert Adenbaum Foundation tax-deductible?
Leo Claire & Robert Adenbaum Foundation is registered as a tax-exempt nonprofit (EIN: 116013398). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is the Leo Claire & Robert Adenbaum Foundation financially sustainable given recent revenue trends?
While the foundation has substantial assets ($8,325,033), its expenses have exceeded revenue in several recent years (e.g., 2021 and 2020), leading to a decrease in assets. This trend, if continued, could impact long-term sustainability without increased revenue or reduced spending.
What is the primary focus of the foundation's program services?
Based on the high percentage of program spending (75% in 2022), the foundation is strongly focused on its charitable mission. However, without NTEE code or detailed program descriptions, the specific nature of these services remains unclear from the provided data.
How does the foundation manage its administrative and fundraising costs?
With 15% allocated to administration and 10% to fundraising, these costs are within reasonable bounds for a nonprofit, especially considering the absence of officer compensation, which often contributes significantly to administrative overhead.
Filing History
IRS 990 filing history for Leo Claire & Robert Adenbaum Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2010–2022), Leo Claire & Robert Adenbaum Foundation's revenue has declined by 21.9%, moving from $943K to $736K. Total assets increased by 3901.3% over the same period, from $218K to $8.7M. Total functional expenses fell by 28.8%, from $1.0M to $717K. In its most recent filing year (2022), Leo Claire & Robert Adenbaum Foundation reported a surplus of $19K, with revenue exceeding expenses. The organization holds $2K in liabilities against $8.7M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $8.7M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2022 | $736K | $717K | $8.7M | $2K | — | View 990 |
| 2021 | $801K | $936K | $8.7M | $42K | — | View 990 |
| 2020 | $484K | $914K | $8.9M | $88K | — | View 990 |
| 2019 | $539K | $809K | $9.2M | $156 | — | View 990 |
| 2015 | $8.1M | $1.3M | $10.3M | $6K | — | View 990 |
| 2014 | $20K | $197K | $3.2M | $8K | — | View 990 |
| 2013 | $3.2M | $14K | $3.4M | $0 | — | View 990 |
| 2012 | $614 | $7K | $204K | $0 | — | View 990 |
| 2011 | $212 | $7K | $210K | $0 | — | View 990 |
| 2010 | $943K | $1.0M | $218K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2022: Revenue of $736K, expenses of $717K, and assets of $8.7M (revenue -8.1% year-over-year).
- 2021: Revenue of $801K, expenses of $936K, and assets of $8.7M (revenue +65.5% year-over-year).
- 2020: Revenue of $484K, expenses of $914K, and assets of $8.9M (revenue -10.1% year-over-year).
- 2019: Revenue of $539K, expenses of $809K, and assets of $9.2M (revenue -93.3% year-over-year).
- 2015: Revenue of $8.1M, expenses of $1.3M, and assets of $10.3M (revenue +39534.4% year-over-year).
- 2014: Revenue of $20K, expenses of $197K, and assets of $3.2M (revenue -99.4% year-over-year).
- 2013: Revenue of $3.2M, expenses of $14K, and assets of $3.4M (revenue +518677.4% year-over-year).
- 2012: Revenue of $614, expenses of $7K, and assets of $204K (revenue +189.6% year-over-year).
- 2011: Revenue of $212, expenses of $7K, and assets of $210K (revenue -100.0% year-over-year).
- 2010: Revenue of $943K, expenses of $1.0M, and assets of $218K.
Data Sources and Methodology
This transparency report for Leo Claire & Robert Adenbaum 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.