Mcfadden Foundation Inc
McFadden Foundation Inc. operates with minimal revenue and increasing liabilities, spending more than it earns.
EIN: 20558816 · Charleston, SC · NTEE: T22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $71 |
| Total Expenses | $500 |
| Net Assets | $-1,594 |
| Transparency Score | 20/100 |
Is Mcfadden Foundation Inc Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Mcfadden Foundation Inc
Mcfadden Foundation Inc (EIN: 20558816) is a nonprofit organization based in Charleston, SC, classified under NTEE code T22. The organization reported total revenue of $71 and total assets of $2K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Mcfadden Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Mcfadden Foundation Inc is a micro nonprofit that has been operating for 23 years, with 9 years of IRS 990 filings on record (2011–2022). Revenue has grown at a compound annual rate of -10.7%.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
| Total Revenue | $71 |
| Total Expenses | $500 |
| Surplus / Deficit | $-429 |
| Total Assets | $2K |
| Total Liabilities | $3K |
| Net Assets | $-1,594 |
| Operating Margin | -604.2% |
| Debt-to-Asset Ratio | 190.8% |
| Months of Reserves | 42.1 months |
Financial Health Grade: C
In 2022, Mcfadden Foundation Inc reported a deficit of $429 with expenses exceeding revenue, holds 42.1 months of operating reserves (strong position), has a debt-to-asset ratio of 190.8% (high leverage).
Financial Trends
Over 9 years of filings (2011–2022), Mcfadden Foundation Inc's revenue has declined at a compound annual growth rate (CAGR) of -10.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | +9.2% | +0.0% | +4.2% |
| 2021 | +3.2% | +25.0% | +4.0% |
| 2020 | -3.1% | +3.9% | +4.0% |
| 2019 | -98.7% | -96.3% | +16.2% |
| 2015 | +358.6% | +2527.6% | -80.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2003 |
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 Mcfadden Foundation Inc with a Mission Score of 20 out of 100 (Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 100%
- programs: 0%
- fundraising: 0%
According to IRS 990 filings, Mcfadden Foundation Inc allocates its expenses as follows: admin: 100%, programs: 0%, fundraising: 0%.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $429, with expenses exceeding revenue.
- Debt-to-asset ratio: 190.8%.
Executive Compensation Analysis
Officer compensation has consistently been reported as 0% across all available filings, indicating that the organization's leadership is unpaid or minimally compensated, which is typical for very small, volunteer-run entities.
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 Mcfadden Foundation Inc's IRS 990 filings:
- Consistent negative net income (e.g., $71 revenue vs. $500 expenses in 2022)
- Increasing liabilities relative to assets (Liabilities $3,350 vs. Assets $1,756 in 2022)
- Extremely low and declining revenue in recent years (e.g., $71 in 2022 compared to $4,948 in 2015)
- Significant decline in assets over time (from $8,570 in 2011 to $1,756 in 2022)
Strengths
The following positive indicators were identified for Mcfadden Foundation Inc:
- Consistent IRS 990 filing history, indicating compliance with reporting requirements.
- Zero officer compensation reported, suggesting volunteer leadership and minimal overhead in this area.
Frequently Asked Questions about Mcfadden Foundation Inc
Is Mcfadden Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Mcfadden Foundation Inc (EIN: 20558816) significant concerns. Mission Score: 20/100. 4 red flags identified, 2 strengths noted.
How does Mcfadden Foundation Inc spend its money?
Detailed spending breakdown data is not yet available for Mcfadden Foundation Inc. Check back for updated IRS 990 analysis.
Are donations to Mcfadden Foundation Inc tax-deductible?
Mcfadden Foundation Inc is registered as a tax-exempt nonprofit (EIN: 20558816). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Mcfadden Foundation Inc compare to similar nonprofits?
With a transparency score of 20/100 (Poor), Mcfadden Foundation Inc is below average for NTEE category T22 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Mcfadden Foundation Inc located?
Mcfadden Foundation Inc is headquartered in Charleston, South Carolina and files with the IRS under EIN 20558816. It is classified under NTEE code T22.
How many years of IRS 990 filings does Mcfadden Foundation Inc have?
Mcfadden Foundation Inc has 9 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 $71 in total revenue.
What are the specific program activities of the McFadden Foundation Inc. given its minimal revenue and expenses?
The provided data does not detail specific program activities. With 2022 revenue of $71 and expenses of $500, it's unclear what programs, if any, are being funded or executed at this scale.
How does the McFadden Foundation Inc. cover its expenses when revenue is consistently lower?
The consistent deficit, such as $71 revenue against $500 expenses in 2022, suggests the organization is either drawing down on past assets (which are also very low) or accumulating liabilities, as evidenced by the increase in liabilities from $379 in 2015 to $3,350 in 2022.
What is the long-term financial strategy for the McFadden Foundation Inc. given its declining assets and increasing liabilities?
The financial data shows a concerning trend of declining assets (from $8,570 in 2011 to $1,756 in 2022) and increasing liabilities (from $379 in 2015 to $3,350 in 2022), alongside minimal revenue. This pattern suggests a lack of a sustainable long-term financial strategy.
Filing History
IRS 990 filing history for Mcfadden Foundation Inc showing financial trends over 9 years of public records:
Over 9 years of IRS 990 filings (2011–2022), Mcfadden Foundation Inc's revenue has declined by 71.4%, moving from $248 to $71. Total assets decreased by 79.5% over the same period, from $9K to $2K. Total functional expenses fell by 25.8%, from $674 to $500. In its most recent filing year (2022), Mcfadden Foundation Inc reported a deficit of $429, with expenses exceeding revenue. The organization holds $3K in liabilities against $2K in assets (debt-to-asset ratio: 190.8%), resulting in net assets of $-1,594.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2022 | $71 | $500 | $2K | $3K | — | View 990 |
| 2021 | $65 | $500 | $2K | $3K | — | View 990 |
| 2020 | $63 | $400 | $2K | $2K | — | — |
| 2019 | $65 | $385 | $2K | $2K | — | View 990 |
| 2015 | $5K | $10K | $1K | $379 | — | View 990 |
| 2014 | $1K | $395 | $7K | $306 | — | View 990 |
| 2013 | $219 | $2K | $8K | $2K | — | View 990 |
| 2012 | $467 | $983 | $8K | $440 | — | View 990 |
| 2011 | $248 | $674 | $9K | $910 | — | View 990 |
Year-by-Year Financial Summary
- 2022: Revenue of $71, expenses of $500, and assets of $2K (revenue +9.2% year-over-year).
- 2021: Revenue of $65, expenses of $500, and assets of $2K (revenue +3.2% year-over-year).
- 2020: Revenue of $63, expenses of $400, and assets of $2K (revenue -3.1% year-over-year).
- 2019: Revenue of $65, expenses of $385, and assets of $2K (revenue -98.7% year-over-year).
- 2015: Revenue of $5K, expenses of $10K, and assets of $1K (revenue +358.6% year-over-year).
- 2014: Revenue of $1K, expenses of $395, and assets of $7K (revenue +392.7% year-over-year).
- 2013: Revenue of $219, expenses of $2K, and assets of $8K (revenue -53.1% year-over-year).
- 2012: Revenue of $467, expenses of $983, and assets of $8K (revenue +88.3% year-over-year).
- 2011: Revenue of $248, expenses of $674, and assets of $9K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Mcfadden Foundation Inc:
Data Sources and Methodology
This transparency report for Mcfadden 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.