Richard And Susan Leadem Family Foundation Inc
Richard And Susan Leadem Family Foundation Inc. consistently spends down assets, with expenses exceeding revenue in most years.
EIN: 201811973 · Charleston, SC · NTEE: T22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $24K |
| Total Expenses | $25K |
| Program Spending | 90% |
| Net Assets | $97K |
| Transparency Score | 70/100 |
Is Richard And Susan Leadem Family Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Richard And Susan Leadem Family Foundation Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Richard And Susan Leadem Family Foundation Inc
Richard And Susan Leadem Family Foundation Inc (EIN: 201811973) is a nonprofit organization based in Charleston, SC, classified under NTEE code T22. The organization reported total revenue of $24K and total assets of $84K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Richard And Susan Leadem Family Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Richard And Susan Leadem Family Foundation Inc is a micro nonprofit that has been operating for 21 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -6.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $21K |
| Total Expenses | $25K |
| Surplus / Deficit | $-4,341 |
| Total Assets | $97K |
| Total Liabilities | $1 |
| Net Assets | $97K |
| Operating Margin | -20.7% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 46.2 months |
Financial Health Grade: B
In 2023, Richard And Susan Leadem Family Foundation Inc reported a deficit of $4K with expenses exceeding revenue, holds 46.2 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), Richard And Susan Leadem Family Foundation Inc's revenue has declined at a compound annual growth rate (CAGR) of -6.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +21.1% | -15.3% | -4.3% |
| 2022 | -59.3% | -36.2% | -11.0% |
| 2021 | -0.9% | -24.2% | -2.8% |
| 2020 | +38.1% | -16.2% | -13.8% |
| 2019 | -54.4% | -12.9% | -33.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2005 |
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 Richard And Susan Leadem Family Foundation Inc with a Mission Score of 70 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: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Richard And Susan Leadem Family Foundation Inc allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. 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 $4K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation has consistently been reported as 0% of expenses across all available filings, indicating that the foundation's leadership is either unpaid or compensated through other means not reported as officer compensation, which is a positive for minimizing administrative overhead.
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 Richard And Susan Leadem Family Foundation Inc's IRS 990 filings:
- Consistent deficit spending: Expenses have exceeded revenue in 9 out of 10 reported periods, leading to a continuous decline in assets.
- Significant asset depletion: Assets have decreased from $269,414 in 2011 to $97,361 in 2023, raising questions about long-term sustainability if this is not an intentional spend-down strategy.
Strengths
The following positive indicators were identified for Richard And Susan Leadem Family Foundation Inc:
- Zero officer compensation: No compensation reported for officers across all filings, indicating efficient use of funds in this area.
- Low liabilities: Consistently reports only $1 in liabilities, suggesting strong financial management and minimal debt.
- Consistent grant-making: The regular expenditure exceeding revenue implies consistent distribution of funds, likely through grants, towards its charitable purpose.
Frequently Asked Questions about Richard And Susan Leadem Family Foundation Inc
Is Richard And Susan Leadem Family Foundation Inc a legitimate charity?
Richard And Susan Leadem Family Foundation Inc (EIN: 201811973) is a registered tax-exempt nonprofit based in South Carolina. Our AI analysis gives it a Mission Score of 70/100. It has 10 years of IRS 990 filings on record. Total revenue: $24K. 2 red flags identified. 3 strengths noted. Financial health grade: B.
How does Richard And Susan Leadem Family Foundation Inc spend its money?
Richard And Susan Leadem Family Foundation Inc directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Richard And Susan Leadem Family Foundation Inc tax-deductible?
Richard And Susan Leadem Family Foundation Inc is registered as a tax-exempt nonprofit (EIN: 201811973). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Richard And Susan Leadem Family Foundation Inc compare to similar nonprofits?
With a transparency score of 70/100 (Good), Richard And Susan Leadem Family Foundation Inc 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 Richard And Susan Leadem Family Foundation Inc located?
Richard And Susan Leadem Family Foundation Inc is headquartered in Charleston, South Carolina and files with the IRS under EIN 201811973. It is classified under NTEE code T22.
How many years of IRS 990 filings does Richard And Susan Leadem Family Foundation Inc have?
Richard And Susan Leadem Family 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 $24K in total revenue.
Is the Richard And Susan Leadem Family Foundation Inc. a good charity?
As a private family foundation, its 'goodness' is often measured by its grant-making impact. The available data shows consistent grant-making (implied by expenses exceeding revenue) and no officer compensation, which are positive. However, without knowing the specific programs or recipients, a full assessment of its charitable impact is not possible.
Why are the assets declining so consistently?
The consistent decline in assets, from $269,414 in 2011 to $97,361 in 2023, is due to the foundation's expenses regularly exceeding its revenue. This pattern suggests it is either a spend-down foundation intentionally depleting its principal or operating primarily from its endowment, distributing more than it earns from investments or contributions.
What is the primary source of the foundation's revenue?
The provided data only shows 'Revenue' without specifying its source (e.g., contributions, investment income). Given the nature of a family foundation, revenue likely comes from investment returns on its assets and/or periodic contributions from the founding family.
How does the foundation manage its liabilities?
The foundation consistently reports liabilities of $1 across all available filings, indicating extremely low or negligible financial obligations outside of its operational expenses. This suggests a very conservative financial management approach regarding debt.
Filing History
IRS 990 filing history for Richard And Susan Leadem Family Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Richard And Susan Leadem Family Foundation Inc's revenue has declined by 57.2%, moving from $49K to $21K. Total assets decreased by 63.9% over the same period, from $269K to $97K. Total functional expenses fell by 72.8%, from $93K to $25K. In its most recent filing year (2023), Richard And Susan Leadem Family Foundation Inc reported a deficit of $4K, with expenses exceeding revenue. The organization holds $1 in liabilities against $97K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $97K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $21K | $25K | $97K | $1 | — | — |
| 2022 | $17K | $30K | $102K | $1 | — | View 990 |
| 2021 | $42K | $47K | $114K | $1 | — | View 990 |
| 2020 | $43K | $62K | $118K | $1 | — | — |
| 2019 | $31K | $74K | $136K | $1 | — | View 990 |
| 2015 | $68K | $85K | $205K | $1 | — | View 990 |
| 2014 | $7K | $51K | $221K | $1 | — | View 990 |
| 2013 | $107K | $49K | $265K | $1 | — | View 990 |
| 2012 | $40K | $103K | $207K | $1 | — | View 990 |
| 2011 | $49K | $93K | $269K | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $21K, expenses of $25K, and assets of $97K (revenue +21.1% year-over-year).
- 2022: Revenue of $17K, expenses of $30K, and assets of $102K (revenue -59.3% year-over-year).
- 2021: Revenue of $42K, expenses of $47K, and assets of $114K (revenue -0.9% year-over-year).
- 2020: Revenue of $43K, expenses of $62K, and assets of $118K (revenue +38.1% year-over-year).
- 2019: Revenue of $31K, expenses of $74K, and assets of $136K (revenue -54.4% year-over-year).
- 2015: Revenue of $68K, expenses of $85K, and assets of $205K (revenue +871.1% year-over-year).
- 2014: Revenue of $7K, expenses of $51K, and assets of $221K (revenue -93.4% year-over-year).
- 2013: Revenue of $107K, expenses of $49K, and assets of $265K (revenue +167.3% year-over-year).
- 2012: Revenue of $40K, expenses of $103K, and assets of $207K (revenue -18.2% year-over-year).
- 2011: Revenue of $49K, expenses of $93K, and assets of $269K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Richard And Susan Leadem Family Foundation Inc:
Data Sources and Methodology
This transparency report for Richard And Susan Leadem Family 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.