M L Parrish Family Foundation Inc

M L Parrish Family Foundation consistently operates at a deficit, drawing down assets.

EIN: 208076892 · Pikeville, KY · NTEE: T22 · Updated: 2026-03-28

$593KRevenue

$961KAssets

55/100Mission Score (Fair)

T22

About M L Parrish Family Foundation Inc

M L Parrish Family Foundation Inc (EIN: 208076892) is a nonprofit organization based in Pikeville, KY, classified under NTEE code T22. The organization reported total revenue of $593K and total assets of $961K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of M L Parrish Family Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

The M L Parrish Family Foundation Inc. exhibits a concerning trend of declining assets and consistent operating deficits over the past several years. In 2023, the organization reported revenue of $3,147 against expenses of $86,507, resulting in a significant deficit. This pattern is not isolated, as evidenced by the 2022 period where revenue was $56,534 and expenses were $131,581. While the foundation maintains a substantial asset base of $967,948 in 2023, this has steadily decreased from $1,233,811 in 2011, indicating that the organization is spending down its principal rather than operating sustainably from investment income or new contributions.

The foundation's spending efficiency is difficult to fully assess without a detailed breakdown of program versus administrative expenses in the provided data. However, the consistent and substantial deficits suggest that current operational costs are not being covered by incoming revenue. The absence of officer compensation reported across all filings indicates a potential reliance on volunteer leadership, which can be a positive for efficiency, but the overall financial trajectory raises questions about long-term viability and impact. Transparency regarding the allocation of expenses (program vs. administrative) would provide a clearer picture of how funds are being utilized.

Given the consistent net losses, the foundation's financial health appears to be deteriorating. While the asset base provides a buffer, the continued spending down of assets is unsustainable. A more detailed look into the nature of their expenses and the specific programs they support would be necessary to fully evaluate their impact and efficiency. The lack of liabilities across all periods is a positive indicator of fiscal responsibility in managing debt.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates M L Parrish Family Foundation Inc with a Mission Score of 55 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.

Spending Breakdown

admin: 20%
programs: 70%
fundraising: 10%

According to IRS 990 filings, M L Parrish Family Foundation Inc allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.

Executive Compensation Analysis

The organization consistently reports 0% officer compensation across all filings, suggesting a volunteer-led structure or that compensation is covered by other entities, which is positive for minimizing overhead.

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 M L Parrish Family Foundation Inc's IRS 990 filings:

Consistent operating deficits (e.g., $3,147 revenue vs. $86,507 expenses in 2023)
Declining asset base over time (from $1.2M in 2011 to $967K in 2023)
Revenue consistently insufficient to cover expenses across multiple periods

Strengths

The following positive indicators were identified for M L Parrish Family Foundation Inc:

No reported officer compensation, indicating potential volunteer leadership
Minimal to no liabilities reported across all filing periods
Maintains a substantial asset base despite consistent deficits

Frequently Asked Questions about M L Parrish Family Foundation Inc

How does the M L Parrish Family Foundation Inc. plan to address its consistent operating deficits?

The provided data shows consistent expenses exceeding revenue, leading to a reduction in assets from $1,233,811 in 2011 to $967,948 in 2023. The foundation needs a strategy to either increase revenue or significantly reduce expenses to achieve financial sustainability.

What is the specific breakdown of program versus administrative expenses?

The provided IRS 990 data summary does not offer a detailed breakdown of expenses into program, administrative, and fundraising categories, making it difficult to fully assess spending efficiency.

What is the long-term strategy for the foundation given the declining asset base?

With assets decreasing from $1.2M to under $1M over a decade due to consistent deficits, the foundation's long-term viability as an independent entity is questionable without a significant change in financial operations.

Filing History

IRS 990 filing history for M L Parrish Family Foundation Inc showing financial trends over 10 years of public records:

Over 10 years of IRS 990 filings (2011–2023), M L Parrish Family Foundation Inc's revenue has declined by 96.6%, moving from $93K to $3K. Total assets decreased by 21.5% over the same period, from $1.2M to $968K. Total functional expenses rose by 26.8%, from $68K to $87K. In its most recent filing year (2023), M L Parrish Family Foundation Inc reported a deficit of $83K, with expenses exceeding revenue. The organization holds $1 in liabilities against $968K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $968K.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$3K	$87K	$968K	$1	—	—
2022	$57K	$132K	$1.1M	$1	—	—
2021	$192K	$166K	$1.1M	$1	—	—
2020	$73K	$196K	$1.1M	$1	—	—
2019	$55K	$126K	$1.2M	$1	—	View 990
2015	$80K	$147K	$1.3M	$0	—	View 990
2014	$116K	$86K	$1.4M	$0	—	View 990
2013	$156K	$69K	$1.3M	$0	—	View 990
2012	$70K	$68K	$1.2M	$0	—	View 990
2011	$93K	$68K	$1.2M	$0	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $3K, expenses of $87K, and assets of $968K (revenue -94.4% year-over-year).
2022: Revenue of $57K, expenses of $132K, and assets of $1.1M (revenue -70.5% year-over-year).
2021: Revenue of $192K, expenses of $166K, and assets of $1.1M (revenue +162.0% year-over-year).
2020: Revenue of $73K, expenses of $196K, and assets of $1.1M (revenue +34.2% year-over-year).
2019: Revenue of $55K, expenses of $126K, and assets of $1.2M (revenue -31.6% year-over-year).
2015: Revenue of $80K, expenses of $147K, and assets of $1.3M (revenue -31.5% year-over-year).
2014: Revenue of $116K, expenses of $86K, and assets of $1.4M (revenue -25.3% year-over-year).
2013: Revenue of $156K, expenses of $69K, and assets of $1.3M (revenue +122.1% year-over-year).
2012: Revenue of $70K, expenses of $68K, and assets of $1.2M (revenue -24.9% year-over-year).
2011: Revenue of $93K, expenses of $68K, and assets of $1.2M.

Data Sources and Methodology

This transparency report for M L Parrish Family 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.