Richard S Petty Charitable Foundation
Richard S Petty Charitable Foundation maintains strong financial health with zero officer compensation.
EIN: 10525593 · Concord, NH · NTEE: T20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $224K |
| Total Expenses | $16K |
| Program Spending | 95% |
| CEO/Top Officer Pay | $732,398. |
| Net Assets | $685K |
| Transparency Score | 90/100 |
Is Richard S Petty Charitable Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Richard S Petty Charitable Foundation directs 95% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Richard S Petty Charitable Foundation
Richard S Petty Charitable Foundation (EIN: 10525593) is a nonprofit organization based in Concord, NH, classified under NTEE code T20. The organization reported total revenue of $224K and total assets of $732K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Richard S Petty Charitable Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Richard S Petty Charitable Foundation is a small nonprofit that has been operating for 27 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -2.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $41K |
| Total Expenses | $16K |
| Surplus / Deficit | +$25K |
| Total Assets | $685K |
| Total Liabilities | $1 |
| Net Assets | $685K |
| Operating Margin | 60.7% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 510.3 months |
Financial Health Grade: A
In 2023, Richard S Petty Charitable Foundation reported a surplus of $25K with revenue exceeding expenses, holds 510.3 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 S Petty Charitable Foundation's revenue has declined at a compound annual growth rate (CAGR) of -2.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -17.0% | -65.6% | +3.6% |
| 2022 | -34.2% | -49.3% | -0.3% |
| 2021 | -29.6% | +13.0% | -2.8% |
| 2020 | +179.1% | -1.3% | +3.3% |
| 2019 | -52.3% | -17.4% | -23.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1999 |
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 S Petty Charitable Foundation with a Mission Score of 90 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: 95%
- fundraising: 0%
According to IRS 990 filings, Richard S Petty Charitable Foundation allocates its expenses as follows: admin: 5%, programs: 95%, fundraising: 0%. With 95% 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 surplus of $25K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is consistently reported at 0% across all available filings, indicating that no funds are used for officer salaries, which is highly commendable for an organization of its size with assets of $732,398.
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 S Petty Charitable Foundation's IRS 990 filings:
- Declining asset base over the long term (from $1,081,861 in 2011 to $732,398 currently).
Strengths
The following positive indicators were identified for Richard S Petty Charitable Foundation:
- Consistent 0% officer compensation across all filings.
- Very low liabilities, often $0 or $1, indicating strong financial solvency.
- Regular and consistent IRS 990 filing history, demonstrating transparency.
- Positive revenue-to-expense ratio in recent years (e.g., 202312 revenue $40,989 vs. expenses $16,101).
Frequently Asked Questions about Richard S Petty Charitable Foundation
Is Richard S Petty Charitable Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Richard S Petty Charitable Foundation (EIN: 10525593) some concerns. Mission Score: 90/100. 1 red flag identified, 4 strengths noted.
How does Richard S Petty Charitable Foundation spend its money?
Richard S Petty Charitable Foundation directs 95% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Richard S Petty Charitable Foundation tax-deductible?
Richard S Petty Charitable Foundation is registered as a tax-exempt nonprofit (EIN: 10525593). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Richard S Petty Charitable Foundation CEO make?
Richard S Petty Charitable Foundation's highest-compensated officer earns $732,398. annually. The organization reported $224K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
How does Richard S Petty Charitable Foundation compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), Richard S Petty Charitable 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 S Petty Charitable Foundation located?
Richard S Petty Charitable Foundation is headquartered in Concord, New Hampshire and files with the IRS under EIN 10525593. It is classified under NTEE code T20.
How many years of IRS 990 filings does Richard S Petty Charitable Foundation have?
Richard S Petty Charitable Foundation 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 $224K in total revenue.
Is the Richard S Petty Charitable Foundation a good charity?
Based on its consistent 0% officer compensation, minimal liabilities, and regular IRS 990 filings, the foundation demonstrates strong financial health and a clear dedication to its mission, making it appear to be a good charity.
How has the foundation's asset base changed over time?
The foundation's assets have decreased from a high of $1,081,861 in 201112 to $684,686 in 202312, before the latest reported assets of $732,398, showing a general decline but still maintaining a substantial base.
Does the foundation spend efficiently?
Yes, in the most recent filing (202312), expenses were $16,101 against revenue of $40,989, indicating efficient spending and a surplus. The consistent 0% officer compensation also points to high operational efficiency.
Filing History
IRS 990 filing history for Richard S Petty Charitable Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Richard S Petty Charitable Foundation's revenue has declined by 27.6%, moving from $57K to $41K. Total assets decreased by 36.7% over the same period, from $1.1M to $685K. Total functional expenses fell by 82.8%, from $94K to $16K. In its most recent filing year (2023), Richard S Petty Charitable Foundation reported a surplus of $25K, with revenue exceeding expenses. The organization holds $1 in liabilities against $685K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $685K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $41K | $16K | $685K | $1 | — | View 990 |
| 2022 | $49K | $47K | $661K | $1 | — | View 990 |
| 2021 | $75K | $92K | $663K | $1 | — | — |
| 2020 | $107K | $82K | $682K | $1 | — | View 990 |
| 2019 | $38K | $83K | $660K | $0 | — | View 990 |
| 2015 | $80K | $100K | $866K | $0 | — | View 990 |
| 2014 | $115K | $97K | $887K | $0 | — | View 990 |
| 2013 | $79K | $75K | $1.0M | $0 | — | View 990 |
| 2012 | $32K | $88K | $1.0M | $0 | — | View 990 |
| 2011 | $57K | $94K | $1.1M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $41K, expenses of $16K, and assets of $685K (revenue -17.0% year-over-year).
- 2022: Revenue of $49K, expenses of $47K, and assets of $661K (revenue -34.2% year-over-year).
- 2021: Revenue of $75K, expenses of $92K, and assets of $663K (revenue -29.6% year-over-year).
- 2020: Revenue of $107K, expenses of $82K, and assets of $682K (revenue +179.1% year-over-year).
- 2019: Revenue of $38K, expenses of $83K, and assets of $660K (revenue -52.3% year-over-year).
- 2015: Revenue of $80K, expenses of $100K, and assets of $866K (revenue -30.6% year-over-year).
- 2014: Revenue of $115K, expenses of $97K, and assets of $887K (revenue +46.0% year-over-year).
- 2013: Revenue of $79K, expenses of $75K, and assets of $1.0M (revenue +143.8% year-over-year).
- 2012: Revenue of $32K, expenses of $88K, and assets of $1.0M (revenue -42.7% year-over-year).
- 2011: Revenue of $57K, expenses of $94K, and assets of $1.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Richard S Petty Charitable Foundation:
Data Sources and Methodology
This transparency report for Richard S Petty Charitable 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.