Monks Of Norcia Foundation
Monks Of Norcia Foundation shows volatile financial performance with recent surplus after two years of deficits.
EIN: 20514077 · Norwalk, CT · NTEE: T30 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $14.0M |
| Total Expenses | $2.6M |
| Program Spending | 80% |
| Net Assets | $1.6M |
| Transparency Score | 85/100 |
Is Monks Of Norcia Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Monks Of Norcia Foundation directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Monks Of Norcia Foundation
Monks Of Norcia Foundation (EIN: 20514077) is a nonprofit organization based in Norwalk, CT, classified under NTEE code T30. The organization reported total revenue of $14.0M and total assets of $2.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Monks Of Norcia Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Monks Of Norcia Foundation is a large nonprofit that has been operating for 26 years, with 13 years of IRS 990 filings on record (2012–2024). Revenue has grown at a compound annual rate of 18.0%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $3.6M |
| Total Expenses | $2.6M |
| Surplus / Deficit | +$1.0M |
| Total Assets | $2.1M |
| Total Liabilities | $503K |
| Net Assets | $1.6M |
| Operating Margin | 27.6% |
| Debt-to-Asset Ratio | 23.8% |
| Months of Reserves | 9.7 months |
Financial Health Grade: A
In 2024, Monks Of Norcia Foundation reported a surplus of $1.0M with revenue exceeding expenses, holds 9.7 months of operating reserves (strong position), has a debt-to-asset ratio of 23.8% (moderate leverage).
Financial Trends
Over 13 years of filings (2012–2024), Monks Of Norcia Foundation's revenue has grown at a compound annual growth rate (CAGR) of 18.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +96.1% | -29.8% | -3.2% |
| 2023 | -49.0% | -7.6% | -12.5% |
| 2022 | +575.2% | +145.0% | -24.4% |
| 2021 | -87.8% | -28.6% | -36.3% |
| 2020 | +315.7% | +120.0% | +104.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2000 |
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 Monks Of Norcia 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: 80%
- fundraising: 10%
According to IRS 990 filings, Monks Of Norcia Foundation allocates its expenses as follows: admin: 10%, programs: 80%, fundraising: 10%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $1.0M, with revenue exceeding expenses.
- Debt-to-asset ratio: 23.8%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that no officers receive salaries from the organization, which is highly commendable for a nonprofit of its size with revenues often in the millions.
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 Monks Of Norcia Foundation's IRS 990 filings:
- Significant year-over-year financial volatility, with large deficits in 202306 and 202206.
- Fluctuating asset base, making long-term financial planning and stability less predictable.
Strengths
The following positive indicators were identified for Monks Of Norcia Foundation:
- Consistent 0% officer compensation, indicating strong dedication to mission over executive pay.
- Positive net income in the latest filing (202406) of approximately $1 million.
- Long history of IRS 990 filings, suggesting regulatory compliance and transparency.
Frequently Asked Questions about Monks Of Norcia Foundation
Is Monks Of Norcia Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Monks Of Norcia Foundation (EIN: 20514077) some concerns. Mission Score: 85/100. 2 red flags identified, 3 strengths noted.
How does Monks Of Norcia Foundation spend its money?
Monks Of Norcia Foundation directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Monks Of Norcia Foundation tax-deductible?
Monks Of Norcia Foundation is registered as a tax-exempt nonprofit (EIN: 20514077). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Monks Of Norcia Foundation's spending goes to programs?
Monks Of Norcia Foundation directs 80% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Monks Of Norcia Foundation compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Monks Of Norcia Foundation is above average for NTEE category T30 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Monks Of Norcia Foundation located?
Monks Of Norcia Foundation is headquartered in Norwalk, Connecticut and files with the IRS under EIN 20514077. It is classified under NTEE code T30.
How many years of IRS 990 filings does Monks Of Norcia Foundation have?
Monks Of Norcia Foundation has 13 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 $14.0M in total revenue.
What caused the significant revenue and expense fluctuations, particularly the large deficit in 202306?
The provided data shows substantial year-over-year changes in both revenue and expenses, such as revenue dropping from $3.6 million in 202206 to $1.8 million in 202306 while expenses remained high at $3.7 million, leading to a large deficit. Further details from the full 990 filings would be needed to understand the specific reasons for these swings.
What is the primary use of the organization's assets, which have varied significantly?
Assets have ranged from $8,560 in 201506 to over $5 million in 202006 and are currently $2.11 million. Understanding the nature of these assets (e.g., property, investments, cash) and their purpose would provide insight into the organization's long-term stability and operational capacity.
How does the organization manage its liabilities, which have also shown variability?
Liabilities have fluctuated, from $0 in several early periods to $1.57 million in 202306 and $503,035 in 202406. Understanding the nature of these liabilities (e.g., program-related, operational debt) is crucial for assessing financial risk.
Filing History
IRS 990 filing history for Monks Of Norcia Foundation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2012–2024), Monks Of Norcia Foundation's revenue has grown by 631.9%, moving from $495K to $3.6M. Total assets increased by 29621.8% over the same period, from $7K to $2.1M. Total functional expenses rose by 430.1%, from $495K to $2.6M. In its most recent filing year (2024), Monks Of Norcia Foundation reported a surplus of $1.0M, with revenue exceeding expenses. The organization holds $503K in liabilities against $2.1M in assets (debt-to-asset ratio: 23.8%), resulting in net assets of $1.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $3.6M | $2.6M | $2.1M | $503K | — | View 990 |
| 2023 | $1.8M | $3.7M | $2.2M | $1.6M | — | View 990 |
| 2022 | $3.6M | $4.0M | $2.5M | $222 | — | View 990 |
| 2021 | $537K | $1.7M | $3.3M | $386K | — | View 990 |
| 2020 | $4.4M | $2.3M | $5.2M | $952K | — | View 990 |
| 2019 | $1.1M | $1.1M | $2.5M | $376K | — | View 990 |
| 2018 | $1.4M | $1.2M | $1.3M | $0 | — | View 990 |
| 2017 | $2.2M | $1.1M | $1.2M | $0 | — | View 990 |
| 2016 | $435K | $416K | $28K | $0 | — | View 990 |
| 2015 | $661K | $670K | $9K | $0 | — | View 990 |
| 2014 | $699K | $688K | $17K | $0 | — | View 990 |
| 2013 | $382K | $383K | $6K | $0 | — | View 990 |
| 2012 | $495K | $495K | $7K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $3.6M, expenses of $2.6M, and assets of $2.1M (revenue +96.1% year-over-year).
- 2023: Revenue of $1.8M, expenses of $3.7M, and assets of $2.2M (revenue -49.0% year-over-year).
- 2022: Revenue of $3.6M, expenses of $4.0M, and assets of $2.5M (revenue +575.2% year-over-year).
- 2021: Revenue of $537K, expenses of $1.7M, and assets of $3.3M (revenue -87.8% year-over-year).
- 2020: Revenue of $4.4M, expenses of $2.3M, and assets of $5.2M (revenue +315.7% year-over-year).
- 2019: Revenue of $1.1M, expenses of $1.1M, and assets of $2.5M (revenue -22.4% year-over-year).
- 2018: Revenue of $1.4M, expenses of $1.2M, and assets of $1.3M (revenue -38.8% year-over-year).
- 2017: Revenue of $2.2M, expenses of $1.1M, and assets of $1.2M (revenue +409.8% year-over-year).
- 2016: Revenue of $435K, expenses of $416K, and assets of $28K (revenue -34.2% year-over-year).
- 2015: Revenue of $661K, expenses of $670K, and assets of $9K (revenue -5.4% year-over-year).
- 2014: Revenue of $699K, expenses of $688K, and assets of $17K (revenue +83.1% year-over-year).
- 2013: Revenue of $382K, expenses of $383K, and assets of $6K (revenue -22.9% year-over-year).
- 2012: Revenue of $495K, expenses of $495K, and assets of $7K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Monks Of Norcia Foundation:
Data Sources and Methodology
This transparency report for Monks Of Norcia 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.