Ossorio Foundation
Ossorio Foundation consistently operates at a deficit, drawing down substantial assets to cover expenses.
EIN: 113270671 · Charleston, SC · NTEE: A51Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $90K |
| Total Expenses | $95K |
| Program Spending | 70% |
| CEO/Top Officer Pay | $5 |
| Net Assets | $5.3M |
| Transparency Score | 55/100 |
Is Ossorio Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Ossorio Foundation directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Ossorio Foundation
Ossorio Foundation (EIN: 113270671) is a nonprofit organization based in Charleston, SC, classified under NTEE code A51Z. The organization reported total revenue of $90K and total assets of $5.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Ossorio Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Ossorio Foundation is a micro nonprofit that has been operating for 30 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 2.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $36K |
| Total Expenses | $95K |
| Surplus / Deficit | $-59,065 |
| Total Assets | $5.4M |
| Total Liabilities | $17K |
| Net Assets | $5.3M |
| Operating Margin | -164.3% |
| Debt-to-Asset Ratio | 0.3% |
| Months of Reserves | 675.9 months |
Financial Health Grade: B
In 2023, Ossorio Foundation reported a deficit of $59K with expenses exceeding revenue, holds 675.9 months of operating reserves (strong position), has a debt-to-asset ratio of 0.3% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Ossorio Foundation's revenue has grown at a compound annual growth rate (CAGR) of 2.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -16.3% | -22.9% | -1.0% |
| 2022 | -43.6% | +58.2% | -2.1% |
| 2021 | +126.4% | +16.5% | +0.8% |
| 2020 | -97.2% | -80.8% | -3.7% |
| 2019 | +2330.0% | +324.0% | +137.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1996 |
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 Ossorio Foundation 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: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Ossorio 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 deficit of $59K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.3%.
Executive Compensation Analysis
The Ossorio Foundation consistently reports 0% officer compensation across all available filings, suggesting that executive leadership may be entirely volunteer-based or compensated through non-officer roles, which is unusual for an organization with over $5 million in assets.
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 Ossorio Foundation's IRS 990 filings:
- Consistent operating deficits, with expenses frequently exceeding revenue (e.g., $95,006 expenses vs. $35,941 revenue in 2023).
- Depletion of assets over recent years (from $5.69M in 2019 to $5.10M currently) to cover operational shortfalls.
- Significant revenue volatility, with a peak of $1,198,993 in 2019 contrasting with typical revenues under $80,000 in other years.
Strengths
The following positive indicators were identified for Ossorio Foundation:
- Substantial asset base of over $5 million, providing a financial cushion despite operating deficits.
- Consistent IRS 990 filing history, indicating good transparency and compliance.
- No reported officer compensation, potentially indicating a highly volunteer-driven leadership structure.
Frequently Asked Questions about Ossorio Foundation
Is Ossorio Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Ossorio Foundation (EIN: 113270671) some concerns. Mission Score: 55/100. 3 red flags identified, 3 strengths noted.
How does Ossorio Foundation spend its money?
Ossorio Foundation directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Ossorio Foundation tax-deductible?
Ossorio Foundation is registered as a tax-exempt nonprofit (EIN: 113270671). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Ossorio Foundation CEO make?
Ossorio Foundation's highest-compensated officer earns $5 annually. The organization reported $90K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Ossorio Foundation's spending goes to programs?
Ossorio Foundation directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
How does Ossorio Foundation compare to similar nonprofits?
With a transparency score of 55/100 (Fair), Ossorio Foundation is near average for NTEE category A51Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Ossorio Foundation located?
Ossorio Foundation is headquartered in Charleston, South Carolina and files with the IRS under EIN 113270671. It is classified under NTEE code A51Z.
How many years of IRS 990 filings does Ossorio Foundation have?
Ossorio 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 $90K in total revenue.
Is Ossorio Foundation a good charity?
The Ossorio Foundation's financial health is concerning due to consistent operating deficits, with expenses frequently exceeding revenue (e.g., $95,006 expenses vs. $35,941 revenue in 2023). While it possesses substantial assets, this trend is unsustainable. Its program spending efficiency would need further detail from the 990 to fully assess, but the overall financial pattern suggests caution.
How does the Ossorio Foundation sustain its operations with consistent deficits?
The foundation appears to sustain operations by drawing down its significant asset base. For example, assets decreased from $5,406,077 in 2022 to $5,351,182 in 2023, coinciding with an operating deficit of over $59,000 in 2023. This is not a sustainable long-term strategy without new significant revenue streams.
What is the trend in the foundation's assets?
The foundation's assets have shown a general increase from around $2.1 million in 2011 to over $5.6 million in 2019, likely due to investment gains or large contributions. However, more recently, assets have been declining, from $5,691,620 in 2019 to $5,101,501 currently, indicating asset depletion.
Why is there no officer compensation reported?
The consistent reporting of 0% officer compensation across all filings suggests that the foundation's leadership may be entirely volunteer, or that compensation is structured in a way that is not categorized as 'officer compensation' on the IRS Form 990. This could be a strength in terms of minimizing administrative costs, but also warrants understanding the governance structure.
Filing History
IRS 990 filing history for Ossorio Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Ossorio Foundation's revenue has grown by 29.8%, moving from $28K to $36K. Total assets increased by 150.6% over the same period, from $2.1M to $5.4M. Total functional expenses rose by 28.9%, from $74K to $95K. In its most recent filing year (2023), Ossorio Foundation reported a deficit of $59K, with expenses exceeding revenue. The organization holds $17K in liabilities against $5.4M in assets (debt-to-asset ratio: 0.3%), resulting in net assets of $5.3M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $36K | $95K | $5.4M | $17K | — | — |
| 2022 | $43K | $123K | $5.4M | $13K | — | View 990 |
| 2021 | $76K | $78K | $5.5M | $48K | — | — |
| 2020 | $34K | $67K | $5.5M | $4K | — | — |
| 2019 | $1.2M | $348K | $5.7M | $183K | — | — |
| 2015 | $49K | $82K | $2.4M | $1 | — | View 990 |
| 2014 | $123K | $95K | $2.4M | $1 | — | View 990 |
| 2013 | $425K | $125K | $2.4M | $1 | — | View 990 |
| 2012 | $28K | $62K | $2.1M | $0 | — | View 990 |
| 2011 | $28K | $74K | $2.1M | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $36K, expenses of $95K, and assets of $5.4M (revenue -16.3% year-over-year).
- 2022: Revenue of $43K, expenses of $123K, and assets of $5.4M (revenue -43.6% year-over-year).
- 2021: Revenue of $76K, expenses of $78K, and assets of $5.5M (revenue +126.4% year-over-year).
- 2020: Revenue of $34K, expenses of $67K, and assets of $5.5M (revenue -97.2% year-over-year).
- 2019: Revenue of $1.2M, expenses of $348K, and assets of $5.7M (revenue +2330.0% year-over-year).
- 2015: Revenue of $49K, expenses of $82K, and assets of $2.4M (revenue -59.9% year-over-year).
- 2014: Revenue of $123K, expenses of $95K, and assets of $2.4M (revenue -71.1% year-over-year).
- 2013: Revenue of $425K, expenses of $125K, and assets of $2.4M (revenue +1423.7% year-over-year).
- 2012: Revenue of $28K, expenses of $62K, and assets of $2.1M (revenue +0.8% year-over-year).
- 2011: Revenue of $28K, expenses of $74K, and assets of $2.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Ossorio Foundation:
Data Sources and Methodology
This transparency report for Ossorio 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.