Les Paul Foundation
Les Paul Foundation consistently spends more than it earns, drawing on substantial asset reserves.
EIN: 133911396 · Syosset, NY · NTEE: T70J · Updated: 2026-03-28
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80% program spend, health grade B
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| Metric | Value |
|---|---|
| Total Revenue | $11.6M |
| Total Expenses | $2.3M |
| Program Spending | 80% |
| CEO/Top Officer Pay | $40 |
| Net Assets | $40.4M |
| Transparency Score | 75/100 |
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Les Paul Foundation Form 990, Revenue, CEO Pay, and IRS Filing Signals
Les Paul Foundation is surfaced here as a decision-ready nonprofit financial profile, not just a charity listing. The page consolidates IRS Form 990 revenue, expenses, assets, tax-exempt classification, executive compensation, mission score, red flags, and year-by-year filing history so donors, researchers, journalists, and grant teams can answer the common search questions around Les Paul Foundation in one place.
Form 990 Filing Summary
12 filing years are available, with latest revenue of $1.3M and expenses of $2.3M.
Revenue and Expenses
Les Paul Foundation reported $1.3M in revenue and $2.3M in expenses, a deficit of $945K.
Executive Compensation
Top officer compensation appears as $40 in the stored analysis, with context against revenue and expenses below.
Charity Score and Red Flags
75/100 mission score, 2 red flags, and 3 strengths are shown from structured and AI review.
Is Les Paul Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
IRS 990 Data Cockpit
Where the Money Comes From and Where It Goes
Revenue Source Mix
Revenue-source line items are not available on the stored filing yet. Future ingestion now preserves contribution, program-revenue, and investment-income fields when ProPublica provides them.
Expense Deployment
| Program services | $1.8M (80%) |
Across stored filings, Les Paul Foundation shows contribution history pending. Next enrichment targets: revenue-source fields, IRS BMF classification.
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| Decision Lens | Signal | What to Inspect Next |
|---|---|---|
| Legitimacy | Some Concerns | Good filing record; 2 red flags identified |
| Mission spend | 80% to programs | Excellent |
| Financial durability | Grade B | 12 stored filing years |
| Peer context | Compare with Healthy Capital District Initiative | New York and Philanthropy context |
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Les Paul Foundation directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Les Paul Foundation
Les Paul Foundation (EIN: 133911396) is a nonprofit organization based in Syosset, NY, classified under NTEE code T70J. The organization reported total revenue of $11.6M and total assets of $42.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Les Paul Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Les Paul Foundation is a large nonprofit that has been operating for 29 years, with 12 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of -10.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.3M |
| Total Expenses | $2.3M |
| Surplus / Deficit | $-945,361 |
| Total Assets | $40.7M |
| Total Liabilities | $291K |
| Net Assets | $40.4M |
| Operating Margin | -71.5% |
| Debt-to-Asset Ratio | 0.7% |
| Months of Reserves | 215.6 months |
Financial Health Grade: B
In 2023, Les Paul Foundation reported a deficit of $945K with expenses exceeding revenue, holds 215.6 months of operating reserves (strong position), has a debt-to-asset ratio of 0.7% (very low leverage).
Financial Trends
Over 12 years of filings (2010–2023), Les Paul Foundation's revenue has declined at a compound annual growth rate (CAGR) of -10.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -8.8% | +10.8% | +5.9% |
| 2022 | -42.7% | -11.0% | -14.9% |
| 2021 | +221.7% | +19.5% | +9.2% |
| 2020 | -58.8% | -2.9% | +2.1% |
| 2019 | +75.3% | +3.0% | +12.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1997 |
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 Les Paul Foundation 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Les Paul 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 $945K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.7%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers or key employees receive compensation directly from the organization, which is highly unusual for an organization with assets exceeding $40 million and annual expenses over $2 million.
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 Les Paul Foundation's IRS 990 filings:
- Consistent deficit spending (expenses exceeding revenue) in recent years, e.g., $2.2M expenses vs. $1.3M revenue in 2023.
- Unusually low or zero reported officer compensation for an organization with over $40 million in assets, which may obscure true leadership costs.
Strengths
The following positive indicators were identified for Les Paul Foundation:
- Substantial asset base ($40,720,533 in 2023) provides financial stability and long-term capacity.
- Very low liabilities ($290,922 in 2023) indicates strong financial health and minimal debt burden.
- Consistent reporting of 0% officer compensation, if accurate, suggests a highly volunteer-driven or exceptionally lean leadership compensation model.
Frequently Asked Questions about Les Paul Foundation
Is Les Paul Foundation a legitimate charity?
Les Paul Foundation (EIN: 133911396) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 75/100. It has 12 years of IRS 990 filings on record. Total revenue: $11.6M. 2 red flags identified. 3 strengths noted. Financial health grade: B.
How does Les Paul Foundation spend its money?
Les Paul Foundation directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Les Paul Foundation tax-deductible?
Les Paul Foundation is registered as a tax-exempt nonprofit (EIN: 133911396). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Les Paul Foundation CEO make?
Les Paul Foundation's highest-compensated officer earns $40 annually. The organization reported $11.6M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Les Paul Foundation's spending goes to programs?
Les Paul Foundation directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Les Paul Foundation compare to similar nonprofits?
With a transparency score of 75/100 (Good), Les Paul Foundation is above average for NTEE category T70J nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Les Paul Foundation located?
Les Paul Foundation is headquartered in Syosset, New York and files with the IRS under EIN 133911396. It is classified under NTEE code T70J.
How many years of IRS 990 filings does Les Paul Foundation have?
Les Paul Foundation has 12 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 $11.6M in total revenue.
How does the Les Paul Foundation sustain its operations given consistent deficit spending?
The Foundation appears to be drawing down on its substantial asset base, which was $40,720,533 in 2023, to cover operational expenses that have exceeded revenue in most recent years. This strategy is sustainable in the short to medium term due to its large reserves, but long-term sustainability would require either increased revenue or reduced expenses.
What is the source of the organization's revenue, and is it diversified?
While specific revenue sources are not detailed in the provided summary, the fluctuating annual revenue (e.g., $785,097 in 2020 vs. $2,525,936 in 2021) suggests potential reliance on less predictable income streams, such as donations or investment returns, rather than consistent program service fees.
Why is officer compensation consistently reported as 0%?
A consistent 0% officer compensation across all filings for an organization of this size is highly unusual. It could mean that officers are volunteers, compensated by a related entity, or that the compensation is reported under a different category not captured by 'Officer Comp' in this summary.
Filing History
IRS 990 filing history for Les Paul Foundation showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2010–2023), Les Paul Foundation's revenue has declined by 74.5%, moving from $5.2M to $1.3M. Total assets increased by 695.9% over the same period, from $5.1M to $40.7M. Total functional expenses rose by 1795%, from $120K to $2.3M. In its most recent filing year (2023), Les Paul Foundation reported a deficit of $945K, with expenses exceeding revenue. The organization holds $291K in liabilities against $40.7M in assets (debt-to-asset ratio: 0.7%), resulting in net assets of $40.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.3M | $2.3M | $40.7M | $291K | — | — |
| 2022 | $1.4M | $2.0M | $38.4M | $22K | — | View 990 |
| 2021 | $2.5M | $2.3M | $45.2M | $22K | — | View 990 |
| 2020 | $785K | $1.9M | $41.3M | $21K | — | View 990 |
| 2019 | $1.9M | $2.0M | $40.5M | $20K | — | View 990 |
| 2018 | $1.1M | $1.9M | $36.1M | $226 | — | View 990 |
| 2015 | $1.2M | $2.7M | $36.9M | $27K | — | View 990 |
| 2014 | $1.7M | $1.5M | $39.1M | $25K | — | View 990 |
| 2013 | $3.9M | $718K | $38.0M | $1 | — | View 990 |
| 2012 | $533K | $382K | $5.7M | $20 | — | View 990 |
| 2011 | $357K | $239K | $5.1M | $0 | — | View 990 |
| 2010 | $5.2M | $120K | $5.1M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.3M, expenses of $2.3M, and assets of $40.7M (revenue -8.8% year-over-year).
- 2022: Revenue of $1.4M, expenses of $2.0M, and assets of $38.4M (revenue -42.7% year-over-year).
- 2021: Revenue of $2.5M, expenses of $2.3M, and assets of $45.2M (revenue +221.7% year-over-year).
- 2020: Revenue of $785K, expenses of $1.9M, and assets of $41.3M (revenue -58.8% year-over-year).
- 2019: Revenue of $1.9M, expenses of $2.0M, and assets of $40.5M (revenue +75.3% year-over-year).
- 2018: Revenue of $1.1M, expenses of $1.9M, and assets of $36.1M (revenue -9.9% year-over-year).
- 2015: Revenue of $1.2M, expenses of $2.7M, and assets of $36.9M (revenue -30.8% year-over-year).
- 2014: Revenue of $1.7M, expenses of $1.5M, and assets of $39.1M (revenue -55.2% year-over-year).
- 2013: Revenue of $3.9M, expenses of $718K, and assets of $38.0M (revenue +630.2% year-over-year).
- 2012: Revenue of $533K, expenses of $382K, and assets of $5.7M (revenue +49.3% year-over-year).
- 2011: Revenue of $357K, expenses of $239K, and assets of $5.1M (revenue -93.1% year-over-year).
- 2010: Revenue of $5.2M, expenses of $120K, and assets of $5.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Les Paul Foundation:
Data Sources and Methodology
This transparency report for Les Paul 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.