Payne Fund Inc
Payne Fund Inc. maintains stable assets despite recent operating deficits and reports no officer compensation.
EIN: 135563006 · Cleveland, OH · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.0M |
| Total Expenses | $1.1M |
| Program Spending | 80% |
| CEO/Top Officer Pay | $1 |
| Net Assets | $3.3M |
| Transparency Score | 85/100 |
Is Payne Fund Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Payne Fund Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Payne Fund Inc
Payne Fund Inc (EIN: 135563006) is a nonprofit organization based in Cleveland, OH. The organization reported total revenue of $1.0M and total assets of $3.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Payne Fund Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Payne Fund Inc is a mid-size nonprofit that has been operating for 96 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -2.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $817K |
| Total Expenses | $1.1M |
| Surplus / Deficit | $-291,771 |
| Total Assets | $3.5M |
| Total Liabilities | $260K |
| Net Assets | $3.3M |
| Operating Margin | -35.7% |
| Debt-to-Asset Ratio | 7.4% |
| Months of Reserves | 38.1 months |
Financial Health Grade: B
In 2023, Payne Fund Inc reported a deficit of $292K with expenses exceeding revenue, holds 38.1 months of operating reserves (strong position), has a debt-to-asset ratio of 7.4% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Payne Fund Inc's revenue has declined at a compound annual growth rate (CAGR) of -2.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -25.2% | -12.9% | -0.8% |
| 2022 | -7.4% | +4.0% | -14.1% |
| 2021 | +10.1% | +8.4% | +3.8% |
| 2020 | +10.6% | -5.2% | +2.4% |
| 2019 | -33.2% | +7.0% | -6.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1930 |
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 Payne Fund Inc 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Payne Fund Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% 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 deficit of $292K, with expenses exceeding revenue.
- Debt-to-asset ratio: 7.4%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers receive salaries from the organization, which is highly commendable for a nonprofit of this size with over $1 million in annual revenue.
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 Payne Fund Inc's IRS 990 filings:
- Expenses exceeding revenue in recent periods (e.g., 2023: $1,109,168 expenses vs. $817,397 revenue)
- Slight decline in total assets over the past two years from its peak in 2021
Strengths
The following positive indicators were identified for Payne Fund Inc:
- Consistent reporting of 0% officer compensation across all filings
- Strong asset base relative to annual expenses ($3.52 million assets vs. $1.1 million expenses in 2023)
- Long history of consistent IRS 990 filings, indicating transparency
- Generally stable revenue generation over a decade, typically exceeding $1 million annually
Frequently Asked Questions about Payne Fund Inc
Is Payne Fund Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Payne Fund Inc (EIN: 135563006) some concerns. Mission Score: 85/100. 2 red flags identified, 4 strengths noted.
How does Payne Fund Inc spend its money?
Payne Fund Inc directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Payne Fund Inc tax-deductible?
Payne Fund Inc is registered as a tax-exempt nonprofit (EIN: 135563006). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Payne Fund Inc CEO make?
Payne Fund Inc's highest-compensated officer earns $1 annually. The organization reported $1.0M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Payne Fund Inc's spending goes to programs?
Payne Fund Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Payne Fund Inc located?
Payne Fund Inc is headquartered in Cleveland, Ohio and files with the IRS under EIN 135563006.
How many years of IRS 990 filings does Payne Fund Inc have?
Payne Fund Inc 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 $1.0M in total revenue.
Is Payne Fund Inc. financially stable?
Yes, the organization appears financially stable. While expenses have slightly exceeded revenue in the last two reported periods (2023 and 2022), its substantial asset base of $3.52 million in 2023 provides a strong buffer against short-term deficits.
Does Payne Fund Inc. pay its executives?
No, according to the IRS 990 filings, Payne Fund Inc. consistently reports 0% officer compensation, meaning no salaries are paid to its executives.
How has Payne Fund Inc.'s asset base changed over time?
The organization's assets have fluctuated, peaking at $4.13 million in 2021 and decreasing to $3.52 million in 2023. However, they remain robust and significantly higher than in 2011 ($3.54 million).
Filing History
IRS 990 filing history for Payne Fund Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Payne Fund Inc's revenue has declined by 25.7%, moving from $1.1M to $817K. Total assets decreased by 0.6% over the same period, from $3.5M to $3.5M. Total functional expenses rose by 26.4%, from $878K to $1.1M. In its most recent filing year (2023), Payne Fund Inc reported a deficit of $292K, with expenses exceeding revenue. The organization holds $260K in liabilities against $3.5M in assets (debt-to-asset ratio: 7.4%), resulting in net assets of $3.3M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $817K | $1.1M | $3.5M | $260K | — | — |
| 2022 | $1.1M | $1.3M | $3.5M | $291K | — | View 990 |
| 2021 | $1.2M | $1.2M | $4.1M | $18K | — | View 990 |
| 2020 | $1.1M | $1.1M | $4.0M | $20K | — | View 990 |
| 2019 | $968K | $1.2M | $3.9M | $22K | — | View 990 |
| 2015 | $1.4M | $1.1M | $4.2M | $0 | — | View 990 |
| 2014 | $1.2M | $1.0M | $4.0M | $1 | — | View 990 |
| 2013 | $978K | $1.0M | $4.1M | $0 | — | View 990 |
| 2012 | $972K | $853K | $3.8M | $0 | — | View 990 |
| 2011 | $1.1M | $878K | $3.5M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $817K, expenses of $1.1M, and assets of $3.5M (revenue -25.2% year-over-year).
- 2022: Revenue of $1.1M, expenses of $1.3M, and assets of $3.5M (revenue -7.4% year-over-year).
- 2021: Revenue of $1.2M, expenses of $1.2M, and assets of $4.1M (revenue +10.1% year-over-year).
- 2020: Revenue of $1.1M, expenses of $1.1M, and assets of $4.0M (revenue +10.6% year-over-year).
- 2019: Revenue of $968K, expenses of $1.2M, and assets of $3.9M (revenue -33.2% year-over-year).
- 2015: Revenue of $1.4M, expenses of $1.1M, and assets of $4.2M (revenue +20.0% year-over-year).
- 2014: Revenue of $1.2M, expenses of $1.0M, and assets of $4.0M (revenue +23.4% year-over-year).
- 2013: Revenue of $978K, expenses of $1.0M, and assets of $4.1M (revenue +0.7% year-over-year).
- 2012: Revenue of $972K, expenses of $853K, and assets of $3.8M (revenue -11.7% year-over-year).
- 2011: Revenue of $1.1M, expenses of $878K, and assets of $3.5M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Payne Fund Inc:
Data Sources and Methodology
This transparency report for Payne Fund Inc 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.