Norwood Foundation
Norwood Foundation shows highly volatile revenue and expense patterns with significant asset growth and zero reported officer compensation.
EIN: 10705471 · Colorado Spgs, CO · NTEE: T22 · Updated: 2026-03-27
Source Check Matrix
What Has Been Verified vs. What Needs Human Review
Identity resolved verified
Norwood Foundation is mapped to EIN 10705471.
IRS BMF exempt record needs review
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IRS Pub 78 deductibility needs review
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IRS automatic revocation needs review
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IRS Form 990 index verified
11 stored filing years available.
Raw 990 source linked
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Filing depth verified
11 stored filing years available.
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Candid / GuideStar profile api pending
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Source and Resolution Links
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Workflow Engine
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Find source filings Runnable
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11 stored filing years plus ProPublica source
Crunch money signals Runnable
Triggered by: program expense ratio, CEO salary, revenue, grants
70% program spend, health grade A
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4 peer options surfaced
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| Metric | Value |
|---|---|
| Total Revenue | $33.1M |
| Total Expenses | $2.9M |
| Program Spending | 70% |
| Net Assets | $55.6M |
| Transparency Score | 60/100 |
Search Intent Cockpit
Norwood Foundation Form 990, Revenue, CEO Pay, and IRS Filing Signals
Norwood Foundation is surfaced here as a decision-ready nonprofit financial profile, not just a charity listing. The page consolidates IRS Form 990 revenue, expenses, assets, tax-exempt classification, executive compensation, mission score, red flags, and year-by-year filing history so donors, researchers, journalists, and grant teams can answer the common search questions around Norwood Foundation in one place.
Form 990 Filing Summary
11 filing years are available, with latest revenue of $19.4M and expenses of $2.9M.
Revenue and Expenses
Norwood Foundation reported $19.4M in revenue and $2.9M in expenses, a surplus of $16.6M.
Executive Compensation
Officer, director, trustee, and key employee pay is reviewed from IRS 990 compensation disclosures when present.
Charity Score and Red Flags
60/100 mission score, 4 red flags, and 3 strengths are shown from structured and AI review.
Is Norwood Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
IRS 990 Data Cockpit
Where the Money Comes From and Where It Goes
Revenue Source Mix
Revenue-source line items are not available on the stored filing yet. Future ingestion now preserves contribution, program-revenue, and investment-income fields when ProPublica provides them.
Expense Deployment
| Program services | $2.0M (70%) |
Across stored filings, Norwood Foundation shows contribution history pending. Next enrichment targets: revenue-source fields, IRS BMF classification.
Decision Cockpit
One-Stop Donor, Research, and Peer Context Hub
| Decision Lens | Signal | What to Inspect Next |
|---|---|---|
| Legitimacy | Some Concerns | Good filing record; 4 red flags identified |
| Mission spend | 70% to programs | Good |
| Financial durability | Grade A | 11 stored filing years |
| Peer context | Compare with International Midwife Assistance Inc | Colorado and Philanthropy context |
Trust Check
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Research Workflow
Turn this Form 990 profile into a donor-ready report
Request a concise report for Norwood Foundation with revenue, expenses, executive compensation, red flags, peer context, and IRS source links. You can also request CSV exports or watchlist updates for future filings.
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Norwood Foundation directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Norwood Foundation
Norwood Foundation (EIN: 10705471) is a nonprofit organization based in Colorado Spgs, CO, classified under NTEE code T22. The organization reported total revenue of $33.1M and total assets of $82.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Norwood Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Norwood Foundation is a large nonprofit that has been operating for 24 years, with 11 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of 31.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $19.4M |
| Total Expenses | $2.9M |
| Surplus / Deficit | +$16.6M |
| Total Assets | $56.0M |
| Total Liabilities | $383K |
| Net Assets | $55.6M |
| Operating Margin | 85.3% |
| Debt-to-Asset Ratio | 0.7% |
| Months of Reserves | 234.3 months |
Financial Health Grade: A
In 2023, Norwood Foundation reported a surplus of $16.6M with revenue exceeding expenses, holds 234.3 months of operating reserves (strong position), has a debt-to-asset ratio of 0.7% (very low leverage).
Financial Trends
Over 11 years of filings (2012–2023), Norwood Foundation's revenue has grown at a compound annual growth rate (CAGR) of 31.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -10.1% | +10.8% | +43.4% |
| 2023 | +5615.3% | +87.6% | +95.5% |
| 2021 | -297.4% | +30.4% | -8.0% |
| 2020 | -94.1% | -60.1% | +0.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2002 |
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 Norwood Foundation with a Mission Score of 60 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Norwood Foundation allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $16.6M, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.7%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers or key employees received compensation, which is highly unusual for an organization of its size and asset base and suggests either volunteer leadership or compensation is reported under other categories.
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 Norwood Foundation's IRS 990 filings:
- Highly volatile and inconsistent revenue streams, including negative revenue in 202102.
- Significant discrepancy between revenue and expenses in multiple periods (e.g., 202312 revenue $19.4M vs. expenses $2.8M), indicating large unspent income.
- Unusually high asset growth without clear corresponding program spending increases.
- 0% reported officer compensation for an organization with tens of millions in assets, which could indicate hidden compensation or an unsustainable operational model.
Strengths
The following positive indicators were identified for Norwood Foundation:
- No reported officer compensation, indicating low executive overhead.
- Substantial asset base ($82,614,788) provides significant financial capacity.
- Consistent filing history (11 filings) demonstrates compliance with IRS reporting requirements.
Frequently Asked Questions about Norwood Foundation
Is Norwood Foundation a legitimate charity?
Norwood Foundation (EIN: 10705471) is a registered tax-exempt nonprofit based in Colorado. Our AI analysis gives it a Mission Score of 60/100. It has 11 years of IRS 990 filings on record. Total revenue: $33.1M. 4 red flags identified. 3 strengths noted. Financial health grade: A.
How does Norwood Foundation spend its money?
Norwood Foundation directs 70% of its spending to programs and services. Fundraising costs 10%. This meets the 65% industry benchmark.
Are donations to Norwood Foundation tax-deductible?
Norwood Foundation is registered as a tax-exempt nonprofit (EIN: 10705471). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Norwood Foundation's spending goes to programs?
Norwood Foundation directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
How does Norwood Foundation compare to similar nonprofits?
With a transparency score of 60/100 (Good), Norwood Foundation is above average for NTEE category T22 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Norwood Foundation located?
Norwood Foundation is headquartered in Colorado Spgs, Colorado and files with the IRS under EIN 10705471. It is classified under NTEE code T22.
How many years of IRS 990 filings does Norwood Foundation have?
Norwood Foundation has 11 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 $33.1M in total revenue.
Why did Norwood Foundation report negative revenue in 202102?
The filing for period 202102 shows a revenue of $-1,189,569, which is highly unusual and requires clarification regarding the nature of this negative income, such as significant investment losses or accounting adjustments.
How does Norwood Foundation manage to operate with 0% officer compensation?
All available filings indicate 0% officer compensation. This suggests either a fully volunteer-led organization, or that compensation for key personnel is categorized differently, which would require further investigation.
What is the primary purpose of the significant asset accumulation?
The organization's assets have grown from $1,653 in 201602 to $82,614,788 currently. This substantial growth, especially relative to its expenses in many periods, suggests a focus on endowment building or investment activities, rather than immediate program deployment.
What are the specific program activities and their associated costs?
Without a detailed breakdown of expenses beyond total expenses, it's difficult to ascertain the specific programs Norwood Foundation supports and the proportion of spending allocated to them.
Filing History
IRS 990 filing history for Norwood Foundation showing financial trends over 11 years of public records:
Over 11 years of IRS 990 filings (2012–2023), Norwood Foundation's revenue has grown by 1887.9%, moving from $978K to $19.4M. Total assets increased by 704462.9% over the same period, from $8K to $56.0M. Total functional expenses rose by 195.1%, from $971K to $2.9M. In its most recent filing year (2023), Norwood Foundation reported a surplus of $16.6M, with revenue exceeding expenses. The organization holds $383K in liabilities against $56.0M in assets (debt-to-asset ratio: 0.7%), resulting in net assets of $55.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $19.4M | $2.9M | $56.0M | $383K | — | — |
| 2023 | $21.6M | $2.6M | $39.0M | $32K | — | View 990 |
| 2022 | $378K | $1.4M | $20.0M | $4K | — | View 990 |
| 2021 | $-1,189,569 | $653K | $21.0M | $1 | — | View 990 |
| 2020 | $603K | $501K | $22.8M | $157 | — | View 990 |
| 2019 | $10.2M | $1.3M | $22.6M | $3K | — | View 990 |
| 2016 | $1.2M | $1.2M | $2K | $0 | — | View 990 |
| 2015 | $679K | $677K | $4K | $0 | — | View 990 |
| 2014 | $1.2M | $1.2M | $2K | $0 | — | View 990 |
| 2013 | $1.4M | $1.4M | $20K | $0 | — | View 990 |
| 2012 | $978K | $971K | $8K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $19.4M, expenses of $2.9M, and assets of $56.0M (revenue -10.1% year-over-year).
- 2023: Revenue of $21.6M, expenses of $2.6M, and assets of $39.0M (revenue +5615.3% year-over-year).
- 2022: Revenue of $378K, expenses of $1.4M, and assets of $20.0M.
- 2021: Revenue of $-1,189,569, expenses of $653K, and assets of $21.0M (revenue -297.4% year-over-year).
- 2020: Revenue of $603K, expenses of $501K, and assets of $22.8M (revenue -94.1% year-over-year).
- 2019: Revenue of $10.2M, expenses of $1.3M, and assets of $22.6M (revenue +752.7% year-over-year).
- 2016: Revenue of $1.2M, expenses of $1.2M, and assets of $2K (revenue +76.5% year-over-year).
- 2015: Revenue of $679K, expenses of $677K, and assets of $4K (revenue -42.2% year-over-year).
- 2014: Revenue of $1.2M, expenses of $1.2M, and assets of $2K (revenue -17.6% year-over-year).
- 2013: Revenue of $1.4M, expenses of $1.4M, and assets of $20K (revenue +45.7% year-over-year).
- 2012: Revenue of $978K, expenses of $971K, and assets of $8K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Norwood Foundation:
Data Sources and Methodology
This transparency report for Norwood 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.