Ruth Carol Fund Inc
Ruth Carol Fund Inc. maintains substantial assets but frequently operates at a deficit with no reported officer compensation.
EIN: 202013753 · Baltimore, MD · NTEE: T20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $16.2M |
| Total Expenses | $2.3M |
| Program Spending | 80% |
| CEO/Top Officer Pay | $24 |
| Net Assets | $23.4M |
| Transparency Score | 75/100 |
Is Ruth Carol Fund Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Ruth Carol Fund Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Ruth Carol Fund Inc
Ruth Carol Fund Inc (EIN: 202013753) is a nonprofit organization based in Baltimore, MD, classified under NTEE code T20. The organization reported total revenue of $16.2M and total assets of $24.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Ruth Carol Fund Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Ruth Carol Fund Inc is a large 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 37.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.5M |
| Total Expenses | $2.3M |
| Surplus / Deficit | $-834,232 |
| Total Assets | $23.4M |
| Total Liabilities | $1 |
| Net Assets | $23.4M |
| Operating Margin | -56.6% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 121.5 months |
Financial Health Grade: B
In 2023, Ruth Carol Fund Inc reported a deficit of $834K with expenses exceeding revenue, holds 121.5 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), Ruth Carol Fund Inc's revenue has grown at a compound annual growth rate (CAGR) of 37.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -10.3% | +12.2% | -3.4% |
| 2022 | -44.8% | +2.9% | -1.7% |
| 2021 | +84.1% | +8.2% | +4.1% |
| 2020 | +0.8% | +1.9% | -1.0% |
| 2019 | +5.9% | +46.3% | +3.5% |
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 Ruth Carol Fund Inc with a Mission Score of 75 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Ruth Carol Fund Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% 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 $834K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, which is highly unusual for an organization with assets exceeding $24 million. This suggests either a volunteer-led executive team or compensation structured in a way that is not reported as officer compensation on the 990.
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 Ruth Carol Fund Inc's IRS 990 filings:
- Consistent operational deficits in recent years (e.g., 2023, 2022, 2020) where expenses exceeded revenue.
- Unusually low reported liabilities ($1) across all filings, which may warrant clarification.
- 0% reported officer compensation for an organization with over $24 million in assets, which is atypical and could indicate undisclosed compensation structures.
Strengths
The following positive indicators were identified for Ruth Carol Fund Inc:
- Very strong asset base, consistently over $23 million, providing significant financial stability.
- Extremely low liabilities, consistently reported as $1, indicating minimal debt.
- Consistent filing of IRS Form 990s, demonstrating a commitment to transparency.
- NTEE code T20 suggests a focus on grantmaking, which often involves efficient program delivery through other organizations.
Frequently Asked Questions about Ruth Carol Fund Inc
Is Ruth Carol Fund Inc a legitimate charity?
Ruth Carol Fund Inc (EIN: 202013753) is a registered tax-exempt nonprofit based in Maryland. Our AI analysis gives it a Mission Score of 75/100. It has 10 years of IRS 990 filings on record. Total revenue: $16.2M. 3 red flags identified. 4 strengths noted. Financial health grade: B.
How does Ruth Carol Fund Inc spend its money?
Ruth Carol Fund Inc directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Ruth Carol Fund Inc tax-deductible?
Ruth Carol Fund Inc is registered as a tax-exempt nonprofit (EIN: 202013753). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Ruth Carol Fund Inc CEO make?
Ruth Carol Fund Inc's highest-compensated officer earns $24 annually. The organization reported $16.2M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Ruth Carol Fund Inc's spending goes to programs?
Ruth Carol Fund Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Ruth Carol Fund Inc compare to similar nonprofits?
With a transparency score of 75/100 (Good), Ruth Carol Fund Inc 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 Ruth Carol Fund Inc located?
Ruth Carol Fund Inc is headquartered in Baltimore, Maryland and files with the IRS under EIN 202013753. It is classified under NTEE code T20.
How many years of IRS 990 filings does Ruth Carol Fund Inc have?
Ruth Carol Fund 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 $16.2M in total revenue.
Is Ruth Carol Fund Inc. financially sustainable given its recent operational deficits?
While the organization has a very strong asset base of over $24 million, it has consistently spent more than it earned in recent years (e.g., $2,308,250 expenses vs. $1,474,018 revenue in 2023). This trend, if continued, could erode its assets over time, impacting long-term sustainability.
How does Ruth Carol Fund Inc. manage to operate with 0% reported officer compensation?
The consistent reporting of 0% officer compensation is highly unusual for an organization of this size. It suggests that executive leadership may be entirely volunteer-based, compensated through a related entity, or that compensation is categorized differently on the 990, which could warrant further investigation for full transparency.
What is the primary source of the organization's substantial assets?
The filings show a significant jump in revenue in 2012 ($20,979,544) and 2011 ($33,691, which was low but followed by a large asset base), suggesting a substantial initial endowment or large one-time contributions that built its current asset base of over $24 million.
What is the nature of the $1 liability consistently reported?
The consistent reporting of $1 in liabilities across all filings is highly unusual and suggests a nominal placeholder or a specific accounting practice. It indicates an extremely low debt burden, which is a financial strength, but the exact nature of this $1 liability is unclear.
Filing History
IRS 990 filing history for Ruth Carol Fund Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Ruth Carol Fund Inc's revenue has grown by 4275.1%, moving from $34K to $1.5M. Total assets increased by 2388% over the same period, from $940K to $23.4M. Total functional expenses rose by 241.8%, from $675K to $2.3M. In its most recent filing year (2023), Ruth Carol Fund Inc reported a deficit of $834K, with expenses exceeding revenue. The organization holds $1 in liabilities against $23.4M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $23.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.5M | $2.3M | $23.4M | $1 | — | — |
| 2022 | $1.6M | $2.1M | $24.2M | $1 | — | View 990 |
| 2021 | $3.0M | $2.0M | $24.6M | $1 | — | View 990 |
| 2020 | $1.6M | $1.8M | $23.7M | $1 | — | View 990 |
| 2019 | $1.6M | $1.8M | $23.9M | $1 | — | View 990 |
| 2015 | $1.5M | $1.2M | $23.1M | $1 | — | View 990 |
| 2014 | $2.1M | $917K | $22.8M | $1 | — | View 990 |
| 2013 | $811K | $784K | $21.6M | $1 | — | View 990 |
| 2012 | $21.0M | $325K | $21.6M | $1 | — | View 990 |
| 2011 | $34K | $675K | $940K | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.5M, expenses of $2.3M, and assets of $23.4M (revenue -10.3% year-over-year).
- 2022: Revenue of $1.6M, expenses of $2.1M, and assets of $24.2M (revenue -44.8% year-over-year).
- 2021: Revenue of $3.0M, expenses of $2.0M, and assets of $24.6M (revenue +84.1% year-over-year).
- 2020: Revenue of $1.6M, expenses of $1.8M, and assets of $23.7M (revenue +0.8% year-over-year).
- 2019: Revenue of $1.6M, expenses of $1.8M, and assets of $23.9M (revenue +5.9% year-over-year).
- 2015: Revenue of $1.5M, expenses of $1.2M, and assets of $23.1M (revenue -27.4% year-over-year).
- 2014: Revenue of $2.1M, expenses of $917K, and assets of $22.8M (revenue +157.7% year-over-year).
- 2013: Revenue of $811K, expenses of $784K, and assets of $21.6M (revenue -96.1% year-over-year).
- 2012: Revenue of $21.0M, expenses of $325K, and assets of $21.6M (revenue +62170.5% year-over-year).
- 2011: Revenue of $34K, expenses of $675K, and assets of $940K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Ruth Carol Fund Inc:
Data Sources and Methodology
This transparency report for Ruth Carol Fund 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.