Norfolk Education Foundation

Norfolk Education Foundation shows stable finances with volunteer leadership, though past spending has occasionally exceeded revenue.

EIN: 113789355 · Norfolk, VA · NTEE: B122 · Updated: 2026-03-28

$233KRevenue

$422KAssets

85/100Mission Score (Excellent)

B122

About Norfolk Education Foundation

Norfolk Education Foundation (EIN: 113789355) is a nonprofit organization based in Norfolk, VA, classified under NTEE code B122. The organization reported total revenue of $233K and total assets of $422K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Norfolk Education Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

The Norfolk Education Foundation demonstrates a generally stable financial position with consistent revenue streams over the past several years, averaging around $200,000 annually. In the most recent filing (201706), the organization reported revenue of $233,182 against expenses of $138,538, resulting in a surplus that contributed to an increase in assets to $422,163. This indicates sound financial management for that period. The organization consistently reports 0% officer compensation, which is a strong indicator of volunteer leadership and efficient use of funds for its mission. While specific program spending details are not provided in the summary data, the absence of officer compensation suggests a high potential for program efficiency.

However, a deeper look at historical data reveals periods where expenses exceeded revenue, such as in 201606 ($257,513 expenses vs. $183,186 revenue) and 201506 ($284,899 expenses vs. $249,403 revenue). These deficits, while not catastrophic given the asset base, suggest that financial performance can fluctuate. The organization's liabilities have remained relatively low, peaking at $21,044 in 201406 and dropping to $1,008 in 201706, indicating good management of debt. The consistent asset base, hovering around $300,000-$400,000, provides a buffer against operational fluctuations.

Overall, the Norfolk Education Foundation appears to be a financially stable organization with a strong commitment to volunteer leadership, as evidenced by zero officer compensation. While there have been periods of deficit spending, the most recent filing shows a healthy surplus and growing assets. Transparency is high regarding executive compensation, but a more detailed breakdown of program, administrative, and fundraising expenses would further enhance understanding of spending efficiency.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Norfolk Education 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, Norfolk Education 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.

Executive Compensation Analysis

The Norfolk Education Foundation consistently reports 0% officer compensation across all available filings, indicating that its leadership is entirely volunteer-based and that no funds are diverted to executive salaries.

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 Norfolk Education Foundation's IRS 990 filings:

Periods of expenses exceeding revenue (e.g., $257,513 expenses vs. $183,186 revenue in 201606)

Strengths

The following positive indicators were identified for Norfolk Education Foundation:

Consistent 0% officer compensation, indicating volunteer leadership
Strong asset base ($422,163 in 201706) providing financial stability
Low liabilities ($1,008 in 201706)
Positive revenue-to-expense ratio in the most recent filing (201706: $233,182 revenue vs. $138,538 expenses)

Frequently Asked Questions about Norfolk Education Foundation

Is Norfolk Education Foundation financially stable?

Yes, the organization appears financially stable, with assets of $422,163 in 201706 and a positive revenue-to-expense ratio in its most recent filing. While there have been periods of deficit spending, the overall trend shows consistent revenue and a healthy asset base.

Does Norfolk Education Foundation pay its executives?

No, the Norfolk Education Foundation consistently reports 0% officer compensation, indicating that its leadership serves on a volunteer basis.

How has the organization's revenue trended over time?

Revenue has fluctuated but remained relatively consistent, averaging around $200,000 annually, with a high of $256,748 in 201306 and a low of $86,205 in 201206.

What is the organization's asset-to-liability ratio?

In 201706, the organization had assets of $422,163 and liabilities of $1,008, indicating a very strong asset-to-liability ratio.

Filing History

IRS 990 filing history for Norfolk Education Foundation showing financial trends over 7 years of public records:

Over 7 years of IRS 990 filings (2011–2017), Norfolk Education Foundation's revenue has grown by 24.8%, moving from $187K to $233K. Total assets decreased by 4.9% over the same period, from $444K to $422K. Total functional expenses fell by 14.4%, from $162K to $139K. In its most recent filing year (2017), Norfolk Education Foundation reported a surplus of $95K, with revenue exceeding expenses. The organization holds $1K in liabilities against $422K in assets (debt-to-asset ratio: 0.2%), resulting in net assets of $421K.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2017	$233K	$139K	$422K	$1K	—	View 990
2016	$183K	$258K	$332K	$5K	—	View 990
2015	$249K	$285K	$341K	$11K	—	View 990
2014	$254K	$240K	$335K	$21K	—	View 990
2013	$257K	$250K	$367K	$19K	—	View 990
2012	$86K	$189K	$341K	$0	—	View 990
2011	$187K	$162K	$444K	$0	—	View 990

Year-by-Year Financial Summary

2017: Revenue of $233K, expenses of $139K, and assets of $422K (revenue +27.3% year-over-year).
2016: Revenue of $183K, expenses of $258K, and assets of $332K (revenue -26.6% year-over-year).
2015: Revenue of $249K, expenses of $285K, and assets of $341K (revenue -1.7% year-over-year).
2014: Revenue of $254K, expenses of $240K, and assets of $335K (revenue -1.2% year-over-year).
2013: Revenue of $257K, expenses of $250K, and assets of $367K (revenue +197.8% year-over-year).
2012: Revenue of $86K, expenses of $189K, and assets of $341K (revenue -53.9% year-over-year).
2011: Revenue of $187K, expenses of $162K, and assets of $444K.

Data Sources and Methodology

This transparency report for Norfolk Education 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.