Luke And Becky Corbett Foundation
Luke And Becky Corbett Foundation shows asset stability but recent revenue volatility and expenses exceeding income.
EIN: 205201343 · Edmond, OK · NTEE: T20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $777K |
| Total Expenses | $336K |
| Program Spending | 90% |
| CEO/Top Officer Pay | $4 |
| Net Assets | $4.4M |
| Transparency Score | 85/100 |
Is Luke And Becky Corbett Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Luke And Becky Corbett Foundation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Luke And Becky Corbett Foundation
Luke And Becky Corbett Foundation (EIN: 205201343) is a nonprofit organization based in Edmond, OK, classified under NTEE code T20. The organization reported total revenue of $777K and total assets of $4.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Luke And Becky Corbett Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Luke And Becky Corbett Foundation is a small nonprofit that has been operating for 20 years, with 10 years of IRS 990 filings on record (2011–2023).
Financial Trends
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -137.7% | -13.7% | -9.5% |
| 2022 | -34.4% | +14.9% | -1.2% |
| 2021 | +72.1% | +25.5% | +3.5% |
| 2020 | +76.3% | +17.4% | +0.5% |
| 2019 | -13.0% | +64.1% | -7.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2006 |
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 Luke And Becky Corbett 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: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Luke And Becky Corbett Foundation 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:
- 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 are drawing salaries from the foundation, which is highly efficient for an organization of its size with assets over $4 million.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Luke And Becky Corbett Foundation's IRS 990 filings:
- Negative revenue reported in 2023 ($-124,545), indicating significant financial losses or adjustments.
- Expenses frequently exceed revenue (e.g., 2023, 2022, 2019, 2014, 2013), suggesting reliance on asset drawdowns.
- Declining asset base from $5,431,667 in 2012 to $4,394,067 in 2023, though still substantial.
Strengths
The following positive indicators were identified for Luke And Becky Corbett Foundation:
- Consistently reports 0% officer compensation, indicating highly efficient use of funds for its mission.
- Maintains a substantial asset base (over $4 million), providing long-term stability for its grantmaking activities.
- Consistent filing history over a decade, demonstrating transparency and compliance.
Frequently Asked Questions about Luke And Becky Corbett Foundation
Is Luke And Becky Corbett Foundation a legitimate charity?
Luke And Becky Corbett Foundation (EIN: 205201343) is a registered tax-exempt nonprofit based in Oklahoma. Our AI analysis gives it a Mission Score of 85/100. It has 10 years of IRS 990 filings on record. Total revenue: $777K. 3 red flags identified. 3 strengths noted. Financial health grade: B.
How does Luke And Becky Corbett Foundation spend its money?
Luke And Becky Corbett Foundation directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Luke And Becky Corbett Foundation tax-deductible?
Luke And Becky Corbett Foundation is registered as a tax-exempt nonprofit (EIN: 205201343). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Luke And Becky Corbett Foundation CEO make?
Luke And Becky Corbett Foundation's highest-compensated officer earns $4 annually. The organization reported $777K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
How does Luke And Becky Corbett Foundation compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Luke And Becky Corbett Foundation 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 Luke And Becky Corbett Foundation located?
Luke And Becky Corbett Foundation is headquartered in Edmond, Oklahoma and files with the IRS under EIN 205201343. It is classified under NTEE code T20.
How many years of IRS 990 filings does Luke And Becky Corbett Foundation have?
Luke And Becky Corbett Foundation 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 $777K in total revenue.
Is the Luke And Becky Corbett Foundation a good charity?
As a private foundation, its primary role is grantmaking. With 0% officer compensation and substantial assets, it appears to be an efficient vehicle for its philanthropic goals. However, recent negative revenue in 2023 and expenses exceeding revenue in multiple years warrant closer examination of its financial strategy.
Why did the foundation report negative revenue in 2023?
The 2023 filing shows a revenue of $-124,545. This could be due to significant investment losses, returns of prior grants, or other non-operating adjustments. It's a notable financial event that impacts the foundation's ability to sustain its grantmaking from current income.
How does the foundation sustain its operations with fluctuating revenue?
The foundation maintains significant assets, averaging over $4.7 million. When revenue is low or negative, and expenses exceed income, the foundation likely draws from its endowment or accumulated assets to cover its grantmaking and administrative costs, as seen in periods like 2023, 2022, and 2019.
Filing History
IRS 990 filing history for Luke And Becky Corbett Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Luke And Becky Corbett Foundation's revenue has declined by 153%, moving from $235K to $-124,545. Total assets decreased by 17.1% over the same period, from $5.3M to $4.4M. Total functional expenses rose by 74.8%, from $192K to $336K. The organization holds $1 in liabilities against $4.4M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $4.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $-124,545 | $336K | $4.4M | $1 | — | View 990 |
| 2022 | $331K | $389K | $4.9M | $1 | — | View 990 |
| 2021 | $504K | $338K | $4.9M | $2K | — | View 990 |
| 2020 | $293K | $270K | $4.7M | $185 | — | View 990 |
| 2019 | $166K | $230K | $4.7M | $1 | — | View 990 |
| 2015 | $191K | $140K | $5.1M | $1 | — | View 990 |
| 2014 | $388K | $738K | $5.0M | $856 | — | View 990 |
| 2013 | $241K | $287K | $5.4M | $1 | — | View 990 |
| 2012 | $194K | $65K | $5.4M | $1 | — | View 990 |
| 2011 | $235K | $192K | $5.3M | $891 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $-124,545, expenses of $336K, and assets of $4.4M (revenue -137.7% year-over-year).
- 2022: Revenue of $331K, expenses of $389K, and assets of $4.9M (revenue -34.4% year-over-year).
- 2021: Revenue of $504K, expenses of $338K, and assets of $4.9M (revenue +72.1% year-over-year).
- 2020: Revenue of $293K, expenses of $270K, and assets of $4.7M (revenue +76.3% year-over-year).
- 2019: Revenue of $166K, expenses of $230K, and assets of $4.7M (revenue -13.0% year-over-year).
- 2015: Revenue of $191K, expenses of $140K, and assets of $5.1M (revenue -50.8% year-over-year).
- 2014: Revenue of $388K, expenses of $738K, and assets of $5.0M (revenue +61.0% year-over-year).
- 2013: Revenue of $241K, expenses of $287K, and assets of $5.4M (revenue +24.0% year-over-year).
- 2012: Revenue of $194K, expenses of $65K, and assets of $5.4M (revenue -17.4% year-over-year).
- 2011: Revenue of $235K, expenses of $192K, and assets of $5.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Luke And Becky Corbett Foundation:
Data Sources and Methodology
This transparency report for Luke And Becky Corbett 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.