Richard H And Viola B Thorp Charitable Tr Foundation
Richard H And Viola B Thorp Charitable Tr Foundation reports $1 in assets despite historical multi-million dollar holdings.
EIN: 206148240 · Milwaukee, WI · NTEE: T20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $602K |
| Total Expenses | $346K |
| Program Spending | 90% |
| Net Assets | $4.3M |
| Transparency Score | 70/100 |
Is Richard H And Viola B Thorp Charitable Tr Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Richard H And Viola B Thorp Charitable Tr Foundation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Richard H And Viola B Thorp Charitable Tr Foundation
Richard H And Viola B Thorp Charitable Tr Foundation (EIN: 206148240) is a nonprofit organization based in Milwaukee, WI, classified under NTEE code T20. The organization reported total revenue of $602K and total assets of $1 according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Richard H And Viola B Thorp Charitable Tr Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Richard H And Viola B Thorp Charitable Tr Foundation is a small nonprofit that has been operating for 22 years, with 5 years of IRS 990 filings on record (2011–2015). Revenue has grown at a compound annual rate of 0.2%.
Key Financial Metrics (2015)
From the most recent IRS 990 filing on record:
| Total Revenue | $228K |
| Total Expenses | $346K |
| Surplus / Deficit | $-117,963 |
| Total Assets | $4.3M |
| Total Liabilities | $1 |
| Net Assets | $4.3M |
| Operating Margin | -51.8% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 150.0 months |
Financial Health Grade: B
In 2015, Richard H And Viola B Thorp Charitable Tr Foundation reported a deficit of $118K with expenses exceeding revenue, holds 150.0 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 5 years of filings (2011–2015), Richard H And Viola B Thorp Charitable Tr Foundation's revenue has grown at a compound annual growth rate (CAGR) of 0.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2015 | -52.4% | -1.3% | -2.6% |
| 2014 | +136.6% | -2.1% | +2.1% |
| 2013 | -61.7% | -0.4% | -3.5% |
| 2012 | +133.5% | +11.0% | +4.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2004 |
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 H And Viola B Thorp Charitable Tr Foundation 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 H And Viola B Thorp Charitable Tr Foundation 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 (2015)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $118K, 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 officers or key employees receive compensation directly from the foundation, 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 H And Viola B Thorp Charitable Tr Foundation's IRS 990 filings:
- Latest reported assets of $1 are highly inconsistent with historical multi-million dollar assets, raising significant questions about financial reporting or status.
- Lack of detailed expense breakdown makes it difficult to ascertain the exact program spending ratio and administrative efficiency.
Strengths
The following positive indicators were identified for Richard H And Viola B Thorp Charitable Tr Foundation:
- Consistent revenue generation, with the latest reported revenue at $601,543.
- No reported officer compensation across all filings, indicating low executive overhead.
- Consistent history of IRS 990 filings, demonstrating a commitment to transparency over time.
Frequently Asked Questions about Richard H And Viola B Thorp Charitable Tr Foundation
Is Richard H And Viola B Thorp Charitable Tr Foundation a legitimate charity?
Richard H And Viola B Thorp Charitable Tr Foundation (EIN: 206148240) is a registered tax-exempt nonprofit based in Wisconsin. Our AI analysis gives it a Mission Score of 70/100. It has 5 years of IRS 990 filings on record. Total revenue: $602K. 2 red flags identified. 3 strengths noted. Financial health grade: B.
How does Richard H And Viola B Thorp Charitable Tr Foundation spend its money?
Richard H And Viola B Thorp Charitable Tr Foundation directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Richard H And Viola B Thorp Charitable Tr Foundation tax-deductible?
Richard H And Viola B Thorp Charitable Tr Foundation is registered as a tax-exempt nonprofit (EIN: 206148240). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Richard H And Viola B Thorp Charitable Tr Foundation compare to similar nonprofits?
With a transparency score of 70/100 (Good), Richard H And Viola B Thorp Charitable Tr Foundation 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 Richard H And Viola B Thorp Charitable Tr Foundation located?
Richard H And Viola B Thorp Charitable Tr Foundation is headquartered in Milwaukee, Wisconsin and files with the IRS under EIN 206148240. It is classified under NTEE code T20.
How many years of IRS 990 filings does Richard H And Viola B Thorp Charitable Tr Foundation have?
Richard H And Viola B Thorp Charitable Tr Foundation has 5 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 $602K in total revenue.
Why are the latest reported assets only $1, given historical assets over $4 million?
The latest filing shows assets of $1, a drastic decrease from previous years where assets consistently exceeded $4 million (e.g., $4,322,052 in 2015). This requires clarification to understand the foundation's current financial capacity and structure.
What is the primary use of the foundation's expenses, specifically grants vs. administrative costs?
Without a detailed breakdown of expenses from the 990, it's unclear how much of the reported expenses (e.g., $345,762 in 2015) are allocated to program services (grants) versus administrative overhead. This is crucial for assessing spending efficiency.
How does the foundation manage its operations without any reported officer compensation?
The consistent 0% officer compensation suggests that the foundation may be managed by volunteers, through an affiliated entity, or that compensation is reported under a different category. This structure can be efficient but warrants understanding of operational oversight.
Filing History
IRS 990 filing history for Richard H And Viola B Thorp Charitable Tr Foundation showing financial trends over 5 years of public records:
Over 5 years of IRS 990 filings (2011–2015), Richard H And Viola B Thorp Charitable Tr Foundation's revenue has grown by 0.9%, moving from $226K to $228K. Total assets decreased by 0.1% over the same period, from $4.3M to $4.3M. Total functional expenses rose by 6.8%, from $324K to $346K. In its most recent filing year (2015), Richard H And Viola B Thorp Charitable Tr Foundation reported a deficit of $118K, with expenses exceeding revenue. The organization holds $1 in liabilities against $4.3M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $4.3M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2015 | $228K | $346K | $4.3M | $1 | — | View 990 |
| 2014 | $478K | $350K | $4.4M | $0 | — | View 990 |
| 2013 | $202K | $358K | $4.3M | $0 | — | View 990 |
| 2012 | $527K | $359K | $4.5M | $0 | — | View 990 |
| 2011 | $226K | $324K | $4.3M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2015: Revenue of $228K, expenses of $346K, and assets of $4.3M (revenue -52.4% year-over-year).
- 2014: Revenue of $478K, expenses of $350K, and assets of $4.4M (revenue +136.6% year-over-year).
- 2013: Revenue of $202K, expenses of $358K, and assets of $4.3M (revenue -61.7% year-over-year).
- 2012: Revenue of $527K, expenses of $359K, and assets of $4.5M (revenue +133.5% year-over-year).
- 2011: Revenue of $226K, expenses of $324K, and assets of $4.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Richard H And Viola B Thorp Charitable Tr Foundation:
Data Sources and Methodology
This transparency report for Richard H And Viola B Thorp Charitable Tr 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.