Nelnet Foundation
Nelnet Foundation shows strong asset growth and zero executive compensation, but revenue fluctuates.
EIN: 202202134 · Lincoln, NE · NTEE: T20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $3.2M |
| Total Expenses | $3.6M |
| Program Spending | 85% |
| CEO/Top Officer Pay | $15 |
| Net Assets | $15.8M |
| Transparency Score | 85/100 |
Is Nelnet Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Nelnet Foundation directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Nelnet Foundation
Nelnet Foundation (EIN: 202202134) is a nonprofit organization based in Lincoln, NE, classified under NTEE code T20. The organization reported total revenue of $3.2M and total assets of $15.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Nelnet Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Nelnet Foundation is a mid-size nonprofit that has been operating for 21 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 1.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $4.1M |
| Total Expenses | $3.6M |
| Surplus / Deficit | +$418K |
| Total Assets | $16.6M |
| Total Liabilities | $812K |
| Net Assets | $15.8M |
| Operating Margin | 10.3% |
| Debt-to-Asset Ratio | 4.9% |
| Months of Reserves | 54.8 months |
Financial Health Grade: A
In 2023, Nelnet Foundation reported a surplus of $418K with revenue exceeding expenses, holds 54.8 months of operating reserves (strong position), has a debt-to-asset ratio of 4.9% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Nelnet Foundation's revenue has grown at a compound annual growth rate (CAGR) of 1.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -28.8% | +1.0% | +2.4% |
| 2022 | +594.0% | +50.4% | +18.2% |
| 2021 | -62.6% | -27.7% | -13.1% |
| 2020 | +111.7% | +32.8% | -3.8% |
| 2019 | -67.2% | +7.2% | +54.4% |
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 Nelnet 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: 85%
- fundraising: 5%
According to IRS 990 filings, Nelnet Foundation allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% 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 surplus of $418K, with revenue exceeding expenses.
- Debt-to-asset ratio: 4.9%.
Executive Compensation Analysis
The Nelnet Foundation consistently reports 0% officer compensation across all available filings, indicating that no salaries are paid to officers, which is highly commendable for a foundation of its size with assets exceeding $15 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 Nelnet Foundation's IRS 990 filings:
- Significant year-to-year revenue volatility, indicating potential reliance on inconsistent funding sources.
Strengths
The following positive indicators were identified for Nelnet Foundation:
- Consistent asset growth, from $4.7 million in 2011 to $16.6 million in 2023.
- Zero officer compensation reported across all filings, indicating high transparency and efficient use of funds.
- Strong financial reserves with assets significantly exceeding annual expenses in most years.
Frequently Asked Questions about Nelnet Foundation
Is Nelnet Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Nelnet Foundation (EIN: 202202134) some concerns. Mission Score: 85/100. 1 red flag identified, 3 strengths noted.
How does Nelnet Foundation spend its money?
Nelnet Foundation directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Nelnet Foundation tax-deductible?
Nelnet Foundation is registered as a tax-exempt nonprofit (EIN: 202202134). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Nelnet Foundation CEO make?
Nelnet Foundation's highest-compensated officer earns $15 annually. The organization reported $3.2M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Nelnet Foundation's spending goes to programs?
Nelnet Foundation directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Nelnet Foundation compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Nelnet 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 Nelnet Foundation located?
Nelnet Foundation is headquartered in Lincoln, Nebraska and files with the IRS under EIN 202202134. It is classified under NTEE code T20.
How many years of IRS 990 filings does Nelnet Foundation have?
Nelnet 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 $3.2M in total revenue.
Is Nelnet Foundation a good charity?
Based on the available data, the Nelnet Foundation appears to be a good charity. It demonstrates strong financial health with growing assets, no reported executive compensation, and a history of significant revenue generation. However, a detailed breakdown of program spending versus administrative and fundraising costs would provide a more complete picture of its efficiency.
How has Nelnet Foundation's financial health changed over time?
The Nelnet Foundation's financial health has significantly improved over time. Its assets have grown from $4.7 million in 2011 to $16.6 million in 2023, indicating strong financial management and growth. While revenue has been volatile, the overall trend in assets is positive.
What is the trend in Nelnet Foundation's revenue?
The Nelnet Foundation's revenue has shown significant year-to-year fluctuations, ranging from a low of $820,391 in 2021 to a high of $5,693,808 in 2022. There isn't a clear upward or downward trend, suggesting reliance on variable funding sources.
Filing History
IRS 990 filing history for Nelnet Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Nelnet Foundation's revenue has grown by 15.5%, moving from $3.5M to $4.1M. Total assets increased by 246.9% over the same period, from $4.8M to $16.6M. Total functional expenses rose by 205.3%, from $1.2M to $3.6M. In its most recent filing year (2023), Nelnet Foundation reported a surplus of $418K, with revenue exceeding expenses. The organization holds $812K in liabilities against $16.6M in assets (debt-to-asset ratio: 4.9%), resulting in net assets of $15.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $4.1M | $3.6M | $16.6M | $812K | — | — |
| 2022 | $5.7M | $3.6M | $16.2M | $846K | — | View 990 |
| 2021 | $820K | $2.4M | $13.7M | $445K | — | View 990 |
| 2020 | $2.2M | $3.3M | $15.8M | $948K | — | View 990 |
| 2019 | $1.0M | $2.5M | $16.4M | $458K | — | — |
| 2015 | $3.2M | $2.3M | $10.6M | $303K | — | View 990 |
| 2014 | $4.8M | $1.7M | $10.0M | $450K | — | View 990 |
| 2013 | $3.3M | $1.4M | $7.1M | $664K | — | View 990 |
| 2012 | $3.8M | $2.2M | $6.1M | $912K | — | View 990 |
| 2011 | $3.5M | $1.2M | $4.8M | $105K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $4.1M, expenses of $3.6M, and assets of $16.6M (revenue -28.8% year-over-year).
- 2022: Revenue of $5.7M, expenses of $3.6M, and assets of $16.2M (revenue +594.0% year-over-year).
- 2021: Revenue of $820K, expenses of $2.4M, and assets of $13.7M (revenue -62.6% year-over-year).
- 2020: Revenue of $2.2M, expenses of $3.3M, and assets of $15.8M (revenue +111.7% year-over-year).
- 2019: Revenue of $1.0M, expenses of $2.5M, and assets of $16.4M (revenue -67.2% year-over-year).
- 2015: Revenue of $3.2M, expenses of $2.3M, and assets of $10.6M (revenue -33.9% year-over-year).
- 2014: Revenue of $4.8M, expenses of $1.7M, and assets of $10.0M (revenue +47.1% year-over-year).
- 2013: Revenue of $3.3M, expenses of $1.4M, and assets of $7.1M (revenue -14.8% year-over-year).
- 2012: Revenue of $3.8M, expenses of $2.2M, and assets of $6.1M (revenue +8.8% year-over-year).
- 2011: Revenue of $3.5M, expenses of $1.2M, and assets of $4.8M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Nelnet Foundation:
Data Sources and Methodology
This transparency report for Nelnet 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.