Perkins Foundation Inc
Perkins Foundation Inc. shows strong asset growth and no executive compensation, but experienced a deficit in 2023.
EIN: 208523229 · Sanford, NC · NTEE: T20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.0M |
| Total Expenses | $128K |
| Program Spending | 90% |
| CEO/Top Officer Pay | $1.6 |
| Net Assets | $1.6M |
| Transparency Score | 85/100 |
Is Perkins Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Perkins Foundation Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Perkins Foundation Inc
Perkins Foundation Inc (EIN: 208523229) is a nonprofit organization based in Sanford, NC, classified under NTEE code T20. The organization reported total revenue of $2.0M and total assets of $2.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Perkins Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Perkins Foundation Inc is a mid-size nonprofit that has been operating for 19 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -6.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $88K |
| Total Expenses | $128K |
| Surplus / Deficit | $-40,083 |
| Total Assets | $1.6M |
| Total Liabilities | $1 |
| Net Assets | $1.6M |
| Operating Margin | -45.8% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 152.9 months |
Financial Health Grade: B
In 2023, Perkins Foundation Inc reported a deficit of $40K with expenses exceeding revenue, holds 152.9 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Perkins Foundation Inc's revenue has declined at a compound annual growth rate (CAGR) of -6.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -91.0% | +63.3% | -2.4% |
| 2022 | +268.9% | +17.8% | +117.5% |
| 2021 | -11.1% | +1.0% | +35.1% |
| 2020 | +1441.8% | -8.2% | +69.5% |
| 2019 | +163.4% | +469.0% | +66.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2007 |
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 Perkins Foundation 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: 5%
- programs: 90%
- fundraising: 5%
According to IRS 990 filings, Perkins Foundation Inc allocates its expenses as follows: admin: 5%, programs: 90%, fundraising: 5%. With 90% 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 $40K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that no officer salaries are paid, which is highly unusual for an organization with assets exceeding $1.6 million and revenue over $2 million (latest reported). This suggests a volunteer-led executive team or that compensation is covered by an affiliated entity, which would require further investigation for full transparency.
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 Perkins Foundation Inc's IRS 990 filings:
- Expenses exceeded revenue in 2023 ($127,668 vs. $87,585), indicating a deficit for that period.
- Highly fluctuating revenue year-over-year, making future financial projections less predictable.
- Consistent 0% officer compensation for an organization with over $1.6M in assets could imply unstated compensation arrangements or a fully volunteer executive team, which warrants further clarity.
Strengths
The following positive indicators were identified for Perkins Foundation Inc:
- Consistent asset growth from $200,000 in 2011 to $1,626,416 in 2023.
- Extremely low liabilities ($1 in most years) indicating strong financial health and low debt.
- Zero reported officer compensation across all filings, suggesting a strong commitment to mission-focused spending.
- Strong expense control in many years, notably in 2022 where expenses were only $78,157 against $978,577 in revenue.
Frequently Asked Questions about Perkins Foundation Inc
Is Perkins Foundation Inc a legitimate charity?
Perkins Foundation Inc (EIN: 208523229) is a registered tax-exempt nonprofit based in North Carolina. Our AI analysis gives it a Mission Score of 85/100. It has 10 years of IRS 990 filings on record. Total revenue: $2.0M. 3 red flags identified. 4 strengths noted. Financial health grade: B.
How does Perkins Foundation Inc spend its money?
Perkins Foundation Inc directs 90% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Perkins Foundation Inc tax-deductible?
Perkins Foundation Inc is registered as a tax-exempt nonprofit (EIN: 208523229). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Perkins Foundation Inc CEO make?
Perkins Foundation Inc's highest-compensated officer earns $1.6 annually. The organization reported $2.0M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Perkins Foundation Inc's spending goes to programs?
Perkins Foundation Inc directs 90% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Perkins Foundation Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Perkins Foundation Inc 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 Perkins Foundation Inc located?
Perkins Foundation Inc is headquartered in Sanford, North Carolina and files with the IRS under EIN 208523229. It is classified under NTEE code T20.
How many years of IRS 990 filings does Perkins Foundation Inc have?
Perkins Foundation 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 $2.0M in total revenue.
Is Perkins Foundation Inc. financially stable?
Yes, despite a deficit in 2023 where expenses ($127,668) exceeded revenue ($87,585), the organization has consistently grown its assets from $200,000 in 2011 to $1,626,416 in 2023 and maintains minimal liabilities ($1), indicating strong long-term financial stability.
How does Perkins Foundation Inc. manage its executive compensation?
Perkins Foundation Inc. reports 0% officer compensation in all available IRS 990 filings, suggesting that executive leadership is either entirely volunteer-based or compensated through an unstated mechanism, which is a notable characteristic for an organization of its size.
What is the trend in Perkins Foundation Inc.'s revenue and expenses?
Revenue has been highly variable, with peaks like $978,577 in 2022 and $265,271 in 2021, but also lows such as $19,353 in 2019 and $87,585 in 2023. Expenses have generally remained low relative to revenue in most years, though 2023 saw expenses ($127,668) surpass revenue.
Has Perkins Foundation Inc. been growing its assets?
Yes, the organization has shown significant asset growth, increasing from $200,000 in 2011 to $1,626,416 in 2023, demonstrating effective financial management and accumulation of resources over time.
Filing History
IRS 990 filing history for Perkins Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Perkins Foundation Inc's revenue has declined by 56.3%, moving from $201K to $88K. Total assets increased by 713.2% over the same period, from $200K to $1.6M. Total functional expenses rose by 19755.1%, from $643 to $128K. In its most recent filing year (2023), Perkins Foundation Inc reported a deficit of $40K, with expenses exceeding revenue. The organization holds $1 in liabilities against $1.6M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $1.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $88K | $128K | $1.6M | $1 | — | View 990 |
| 2022 | $979K | $78K | $1.7M | $1 | — | View 990 |
| 2021 | $265K | $66K | $766K | $1 | — | — |
| 2020 | $298K | $66K | $567K | $1 | — | — |
| 2019 | $19K | $72K | $335K | $1 | — | View 990 |
| 2015 | $7K | $13K | $201K | $131 | — | View 990 |
| 2014 | $14K | $13K | $206K | $1 | — | View 990 |
| 2013 | $14K | $13K | $205K | $1 | — | View 990 |
| 2012 | $7K | $2K | $205K | $1 | — | View 990 |
| 2011 | $201K | $643 | $200K | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $88K, expenses of $128K, and assets of $1.6M (revenue -91.0% year-over-year).
- 2022: Revenue of $979K, expenses of $78K, and assets of $1.7M (revenue +268.9% year-over-year).
- 2021: Revenue of $265K, expenses of $66K, and assets of $766K (revenue -11.1% year-over-year).
- 2020: Revenue of $298K, expenses of $66K, and assets of $567K (revenue +1441.8% year-over-year).
- 2019: Revenue of $19K, expenses of $72K, and assets of $335K (revenue +163.4% year-over-year).
- 2015: Revenue of $7K, expenses of $13K, and assets of $201K (revenue -48.1% year-over-year).
- 2014: Revenue of $14K, expenses of $13K, and assets of $206K (revenue +4.5% year-over-year).
- 2013: Revenue of $14K, expenses of $13K, and assets of $205K (revenue +92.1% year-over-year).
- 2012: Revenue of $7K, expenses of $2K, and assets of $205K (revenue -96.5% year-over-year).
- 2011: Revenue of $201K, expenses of $643, and assets of $200K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Perkins Foundation Inc:
Data Sources and Methodology
This transparency report for Perkins Foundation 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.