Mclain Family Foundation Inc
Mclain Family Foundation Inc. faces significant asset depletion due to consistent deficit spending.
EIN: 201865497 · Charleston, SC · NTEE: T20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $71K |
| Total Expenses | $62K |
| Program Spending | 80% |
| Net Assets | $443K |
| Transparency Score | 55/100 |
Is Mclain Family Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Mclain Family Foundation Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Mclain Family Foundation Inc
Mclain Family Foundation Inc (EIN: 201865497) is a nonprofit organization based in Charleston, SC, classified under NTEE code T20. The organization reported total revenue of $71K and total assets of $443K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Mclain Family Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Mclain Family Foundation Inc is a micro nonprofit that has been operating for 21 years, with 9 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of -0.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $19K |
| Total Expenses | $62K |
| Surplus / Deficit | $-43,135 |
| Total Assets | $443K |
| Total Liabilities | $1 |
| Net Assets | $443K |
| Operating Margin | -231.7% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 86.0 months |
Financial Health Grade: B
In 2023, Mclain Family Foundation Inc reported a deficit of $43K with expenses exceeding revenue, holds 86.0 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 9 years of filings (2012–2023), Mclain Family Foundation Inc's revenue has declined at a compound annual growth rate (CAGR) of -0.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -19.9% | -43.3% | -8.9% |
| 2022 | -60.7% | -17.1% | -15.0% |
| 2021 | +21.5% | -48.7% | -11.2% |
| 2020 | +89.2% | +18.7% | -42.0% |
| 2016 | -93.4% | +72.0% | -14.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2005 |
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 Mclain 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Mclain Family Foundation Inc 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 $43K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The Mclain Family Foundation Inc. reports 0% officer compensation across all available filings, indicating that no salaries or benefits are paid to its executives, which is highly efficient and transparent for an organization of its size.
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 Mclain Family Foundation Inc's IRS 990 filings:
- Consistent operating deficits: Expenses frequently exceed revenue (e.g., 202306 revenue $18,617 vs. expenses $61,752).
- Significant asset depletion: Assets have declined from $1,300,081 in 201506 to $442,536 in 202306.
- Unsustainable financial trend: The organization appears to be spending down its endowment without sufficient new revenue.
Strengths
The following positive indicators were identified for Mclain Family Foundation Inc:
- Zero officer compensation: No executive compensation reported across all filings, indicating high efficiency in this area.
- Low liabilities: Liabilities consistently reported as very low ($0 or $1 in most recent filings), indicating good debt management.
Frequently Asked Questions about Mclain Family Foundation Inc
Is Mclain Family Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Mclain Family Foundation Inc (EIN: 201865497) some concerns. Mission Score: 55/100. 3 red flags identified, 2 strengths noted.
How does Mclain Family Foundation Inc spend its money?
Mclain Family Foundation Inc directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Mclain Family Foundation Inc tax-deductible?
Mclain Family Foundation Inc is registered as a tax-exempt nonprofit (EIN: 201865497). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Mclain Family Foundation Inc's spending goes to programs?
Mclain Family Foundation Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Mclain Family Foundation Inc compare to similar nonprofits?
With a transparency score of 55/100 (Fair), Mclain Family Foundation Inc is near average for NTEE category T20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Mclain Family Foundation Inc located?
Mclain Family Foundation Inc is headquartered in Charleston, South Carolina and files with the IRS under EIN 201865497. It is classified under NTEE code T20.
How many years of IRS 990 filings does Mclain Family Foundation Inc have?
Mclain Family 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 $71K in total revenue.
What is the Mclain Family Foundation Inc.'s strategy to address its consistent operating deficits?
The filings consistently show expenses exceeding revenue, leading to asset depletion. For example, in 202306, expenses were $61,752 while revenue was only $18,617. This trend is unsustainable without a clear strategy for increased funding or reduced spending.
What is the detailed breakdown of the Mclain Family Foundation Inc.'s expenses, particularly between grants and administrative costs?
The provided data only gives total expenses. A detailed breakdown would be necessary to fully assess spending efficiency, especially given the NTEE code T20 (grantmaking foundation).
How does the Mclain Family Foundation Inc. plan to rebuild its asset base, which has declined from over $1.3 million to $442,536?
The significant reduction in assets over the past decade, from $1,300,081 in 201506 to $442,536 in 202306, indicates a need for a clear plan to restore financial reserves.
Filing History
IRS 990 filing history for Mclain Family Foundation Inc showing financial trends over 9 years of public records:
Over 9 years of IRS 990 filings (2012–2023), Mclain Family Foundation Inc's revenue has declined by 9.9%, moving from $21K to $19K. Total assets decreased by 43.2% over the same period, from $779K to $443K. Total functional expenses fell by 35.4%, from $96K to $62K. In its most recent filing year (2023), Mclain Family Foundation Inc reported a deficit of $43K, with expenses exceeding revenue. The organization holds $1 in liabilities against $443K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $443K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $19K | $62K | $443K | $1 | — | View 990 |
| 2022 | $23K | $109K | $486K | $1 | — | View 990 |
| 2021 | $59K | $131K | $571K | $1 | — | — |
| 2020 | $49K | $256K | $644K | $1 | — | — |
| 2016 | $26K | $216K | $1.1M | $0 | — | View 990 |
| 2015 | $387K | $126K | $1.3M | $0 | — | View 990 |
| 2014 | $402K | $121K | $1.0M | $2K | — | View 990 |
| 2013 | $49K | $70K | $757K | $100 | — | View 990 |
| 2012 | $21K | $96K | $779K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $19K, expenses of $62K, and assets of $443K (revenue -19.9% year-over-year).
- 2022: Revenue of $23K, expenses of $109K, and assets of $486K (revenue -60.7% year-over-year).
- 2021: Revenue of $59K, expenses of $131K, and assets of $571K (revenue +21.5% year-over-year).
- 2020: Revenue of $49K, expenses of $256K, and assets of $644K (revenue +89.2% year-over-year).
- 2016: Revenue of $26K, expenses of $216K, and assets of $1.1M (revenue -93.4% year-over-year).
- 2015: Revenue of $387K, expenses of $126K, and assets of $1.3M (revenue -3.7% year-over-year).
- 2014: Revenue of $402K, expenses of $121K, and assets of $1.0M (revenue +724.0% year-over-year).
- 2013: Revenue of $49K, expenses of $70K, and assets of $757K (revenue +136.1% year-over-year).
- 2012: Revenue of $21K, expenses of $96K, and assets of $779K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Mclain Family Foundation Inc:
Data Sources and Methodology
This transparency report for Mclain 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.