Richard Riley Conarroe Foundation Inc
Richard Riley Conarroe Foundation's assets have declined by over 40% in a decade due to consistent spending exceeding revenue.
EIN: 20557485 · Southport, CT · NTEE: T90 · Updated: 2026-03-28
Is Richard Riley Conarroe 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 Riley Conarroe Foundation Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Richard Riley Conarroe Foundation Inc
Richard Riley Conarroe Foundation Inc (EIN: 20557485) is a nonprofit organization based in Southport, CT, classified under NTEE code T90. The organization reported total revenue of $111K and total assets of $263K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Richard Riley Conarroe Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Richard Riley Conarroe Foundation Inc with a Mission Score of 65 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: 25%
- programs: 70%
- fundraising: 5%
According to IRS 990 filings, Richard Riley Conarroe Foundation Inc allocates its expenses as follows: admin: 25%, programs: 70%, fundraising: 5%. Approximately 70% goes to programs, indicating moderate mission focus.
Executive Compensation Analysis
The organization reports 0% officer compensation across all available filings, indicating that no salaries are paid to its executives, which is a strong positive for financial efficiency and resource allocation.
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 Riley Conarroe Foundation Inc's IRS 990 filings:
- Consistent decline in assets over the past decade, from $485,719 in 2011 to $268,159 in 2023.
- Expenses consistently exceed revenue, indicating a spend-down model without sufficient replenishment (e.g., 2023 revenue $4,453 vs. expenses $17,797).
- Lack of detailed functional expense breakdown in the provided data makes it difficult to assess spending efficiency accurately.
Strengths
The following positive indicators were identified for Richard Riley Conarroe Foundation Inc:
- No officer compensation reported across all filings, indicating efficient governance and resource allocation.
- Consistent filing of IRS Form 990s, demonstrating adherence to transparency requirements.
- Minimal liabilities ($1 across most years) suggests sound financial management regarding debt.
Frequently Asked Questions about Richard Riley Conarroe Foundation Inc
Is Richard Riley Conarroe Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Richard Riley Conarroe Foundation Inc (EIN: 20557485) some concerns. Mission Score: 65/100. 3 red flags identified, 3 strengths noted.
How does Richard Riley Conarroe Foundation Inc spend its money?
Richard Riley Conarroe Foundation Inc directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Richard Riley Conarroe Foundation Inc tax-deductible?
Richard Riley Conarroe Foundation Inc is registered as a tax-exempt nonprofit (EIN: 20557485). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What is the specific purpose of the Richard Riley Conarroe Foundation Inc. and its grant-making activities?
The NTEE code T90 indicates 'Foundations & Fund-Raising Organizations', but without further details from the 990, the specific mission or types of grants made are unclear.
Why are the organization's expenses consistently higher than its revenue?
The foundation appears to be spending down its principal, as evidenced by expenses like $17,797 in 2023 against only $4,453 in revenue, leading to a steady decline in assets from $485,719 in 2011 to $268,159 in 2023.
What is the breakdown of the $17,797 in expenses reported in 2023?
The provided data does not offer a functional expense breakdown (e.g., program, administrative, fundraising), making it impossible to determine how the expenses are allocated.
Filing History
IRS 990 filing history for Richard Riley Conarroe Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Richard Riley Conarroe Foundation Inc's revenue has declined by 93.9%, moving from $73K to $4K. Total assets decreased by 44.8% over the same period, from $486K to $268K. Total functional expenses fell by 46.5%, from $33K to $18K. In its most recent filing year (2023), Richard Riley Conarroe Foundation Inc reported a deficit of $13K, with expenses exceeding revenue. The organization holds $1 in liabilities against $268K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $268K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $4K | $18K | $268K | $1 | — | — |
| 2022 | $8K | $17K | $282K | $1 | — | — |
| 2021 | $171 | $19K | $291K | $1 | — | — |
| 2020 | $1K | $19K | $310K | $1 | — | — |
| 2019 | $7K | $24K | $328K | $1 | — | View 990 |
| 2015 | $7K | $23K | $420K | $1 | — | View 990 |
| 2014 | $17K | $39K | $435K | $1 | — | View 990 |
| 2013 | $15K | $25K | $457K | $1 | — | View 990 |
| 2012 | $10K | $28K | $467K | $1 | — | View 990 |
| 2011 | $73K | $33K | $486K | $1K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $4K, expenses of $18K, and assets of $268K (revenue -43.0% year-over-year).
- 2022: Revenue of $8K, expenses of $17K, and assets of $282K (revenue +4467.8% year-over-year).
- 2021: Revenue of $171, expenses of $19K, and assets of $291K (revenue -86.3% year-over-year).
- 2020: Revenue of $1K, expenses of $19K, and assets of $310K (revenue -82.7% year-over-year).
- 2019: Revenue of $7K, expenses of $24K, and assets of $328K (revenue +1.2% year-over-year).
- 2015: Revenue of $7K, expenses of $23K, and assets of $420K (revenue -57.7% year-over-year).
- 2014: Revenue of $17K, expenses of $39K, and assets of $435K (revenue +12.4% year-over-year).
- 2013: Revenue of $15K, expenses of $25K, and assets of $457K (revenue +44.2% year-over-year).
- 2012: Revenue of $10K, expenses of $28K, and assets of $467K (revenue -85.8% year-over-year).
- 2011: Revenue of $73K, expenses of $33K, and assets of $486K.
Data Sources and Methodology
This transparency report for Richard Riley Conarroe 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.