Rum Fund
Rum Fund faces persistent operating deficits and declining assets despite zero officer compensation.
EIN: 134022921 · Wayzata, MN · NTEE: T20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $590K |
| Total Expenses | $438K |
| Program Spending | 70% |
| CEO/Top Officer Pay | $2.9 |
| Net Assets | $3.0M |
| Transparency Score | 55/100 |
Is Rum Fund Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Rum Fund directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Rum Fund
Rum Fund (EIN: 134022921) is a nonprofit organization based in Wayzata, MN, classified under NTEE code T20. The organization reported total revenue of $590K and total assets of $2.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Rum Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Rum Fund 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 10.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $316K |
| Total Expenses | $438K |
| Surplus / Deficit | $-121,092 |
| Total Assets | $3.0M |
| Total Liabilities | $1 |
| Net Assets | $3.0M |
| Operating Margin | -38.3% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 82.6 months |
Financial Health Grade: B
In 2023, Rum Fund reported a deficit of $121K with expenses exceeding revenue, holds 82.6 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), Rum Fund's revenue has grown at a compound annual growth rate (CAGR) of 10.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +61.0% | -25.8% | -3.2% |
| 2022 | -32.6% | +10.5% | -11.4% |
| 2021 | -69.0% | -26.6% | -6.9% |
| 2020 | -17.9% | +23.8% | +3.4% |
| 2019 | +590.8% | +56.3% | -10.0% |
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 Rum Fund with a Mission Score of 55 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Rum Fund allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $121K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Rum Fund consistently reports 0% officer compensation across all available filings, indicating that no salaries or other compensation are paid to its officers. This is a strong positive for transparency and suggests efficient use of funds at the executive level, especially for an organization with assets exceeding $2.9 million.
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 Rum Fund's IRS 990 filings:
- Persistent operating deficits (expenses exceeding revenue) in recent years, e.g., $121,092 deficit in 2023.
- Significant decline in total assets over the past decade, from $4,361,938 in 2013 to $3,011,544 in 2023.
- Inconsistent revenue generation, with large fluctuations year-over-year (e.g., $1,751,533 in 2012 vs. $99,446 in 2011).
- Unusually low and consistent reported liabilities of $1 across multiple filing periods.
Strengths
The following positive indicators were identified for Rum Fund:
- Zero officer compensation reported across all filings, indicating efficient executive spending.
- Maintains a substantial asset base of over $2.9 million, providing some financial cushion despite recent deficits.
Frequently Asked Questions about Rum Fund
Is Rum Fund a legitimate charity?
Based on AI analysis of IRS 990 filings, Rum Fund (EIN: 134022921) some concerns. Mission Score: 55/100. 4 red flags identified, 2 strengths noted.
How does Rum Fund spend its money?
Rum Fund directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Rum Fund tax-deductible?
Rum Fund is registered as a tax-exempt nonprofit (EIN: 134022921). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Rum Fund CEO make?
Rum Fund's highest-compensated officer earns $2.9 annually. The organization reported $590K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Rum Fund's spending goes to programs?
Rum Fund directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
How does Rum Fund compare to similar nonprofits?
With a transparency score of 55/100 (Fair), Rum Fund is near average for NTEE category T20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Rum Fund located?
Rum Fund is headquartered in Wayzata, Minnesota and files with the IRS under EIN 134022921. It is classified under NTEE code T20.
How many years of IRS 990 filings does Rum Fund have?
Rum Fund 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 $590K in total revenue.
Why has Rum Fund experienced consistent operating deficits in recent years?
Rum Fund has consistently spent more than it has earned, with expenses exceeding revenue in most recent periods (e.g., $437,506 expenses vs. $316,414 revenue in 2023). This trend has led to a significant reduction in its asset base.
What is the long-term strategy to address the declining asset base?
The organization's assets have decreased from $4,361,938 in 2013 to $3,011,544 in 2023. Without further information, the strategy to reverse this decline is unclear, but it's a critical concern for long-term sustainability.
How does Rum Fund manage its liabilities, which are consistently reported as $1?
The consistent reporting of $1 in liabilities across multiple years (e.g., 2023, 2022, 2021) is unusual and may warrant further investigation to understand the true financial obligations of the organization.
Filing History
IRS 990 filing history for Rum Fund showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Rum Fund's revenue has grown by 218.2%, moving from $99K to $316K. Total assets decreased by 0.5% over the same period, from $3.0M to $3.0M. Total functional expenses rose by 141.8%, from $181K to $438K. In its most recent filing year (2023), Rum Fund reported a deficit of $121K, with expenses exceeding revenue. The organization holds $1 in liabilities against $3.0M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $3.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $316K | $438K | $3.0M | $1 | — | View 990 |
| 2022 | $197K | $589K | $3.1M | $1 | — | View 990 |
| 2021 | $292K | $534K | $3.5M | $1 | — | View 990 |
| 2020 | $941K | $727K | $3.8M | $1 | — | View 990 |
| 2019 | $1.1M | $587K | $3.7M | $0 | — | View 990 |
| 2015 | $166K | $376K | $4.1M | $0 | — | View 990 |
| 2014 | $256K | $240K | $4.3M | $1 | — | View 990 |
| 2013 | $839K | $231K | $4.4M | $1 | — | View 990 |
| 2012 | $1.8M | $194K | $3.9M | $1 | — | View 990 |
| 2011 | $99K | $181K | $3.0M | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $316K, expenses of $438K, and assets of $3.0M (revenue +61.0% year-over-year).
- 2022: Revenue of $197K, expenses of $589K, and assets of $3.1M (revenue -32.6% year-over-year).
- 2021: Revenue of $292K, expenses of $534K, and assets of $3.5M (revenue -69.0% year-over-year).
- 2020: Revenue of $941K, expenses of $727K, and assets of $3.8M (revenue -17.9% year-over-year).
- 2019: Revenue of $1.1M, expenses of $587K, and assets of $3.7M (revenue +590.8% year-over-year).
- 2015: Revenue of $166K, expenses of $376K, and assets of $4.1M (revenue -35.2% year-over-year).
- 2014: Revenue of $256K, expenses of $240K, and assets of $4.3M (revenue -69.4% year-over-year).
- 2013: Revenue of $839K, expenses of $231K, and assets of $4.4M (revenue -52.1% year-over-year).
- 2012: Revenue of $1.8M, expenses of $194K, and assets of $3.9M (revenue +1661.3% year-over-year).
- 2011: Revenue of $99K, expenses of $181K, and assets of $3.0M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Rum Fund:
Data Sources and Methodology
This transparency report for Rum Fund 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.