Skolnick Family Charitable Trust
Skolnick Family Charitable Trust consistently disburses significant grants, often exceeding annual revenue, supported by a large and growing asset base.
EIN: 116462058 · North Miami, FL · NTEE: T22Z · Updated: 2026-03-28
Is Skolnick Family Charitable Trust Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Skolnick Family Charitable Trust directs 95% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Skolnick Family Charitable Trust
Skolnick Family Charitable Trust (EIN: 116462058) is a nonprofit organization based in North Miami, FL, classified under NTEE code T22Z. The organization reported total revenue of $3.2M and total assets of $86.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Skolnick Family Charitable Trust's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Skolnick Family Charitable Trust is a mid-size nonprofit that has been operating for 30 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 14.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $5.1M |
| Total Expenses | $6.5M |
| Surplus / Deficit | $-1,420,965 |
| Total Assets | $90.3M |
| Total Liabilities | $1 |
| Net Assets | $90.3M |
| Operating Margin | -27.8% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 165.9 months |
Financial Health Grade: B
In 2023, Skolnick Family Charitable Trust reported a deficit of $1.4M with expenses exceeding revenue, holds 165.9 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), Skolnick Family Charitable Trust's revenue has grown at a compound annual growth rate (CAGR) of 14.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -54.4% | +11.0% | -1.5% |
| 2022 | +500.6% | +13.0% | +5.9% |
| 2021 | +183.5% | -4.8% | -3.8% |
| 2019 | -102.8% | +196.3% | +111.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1996 |
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 Skolnick Family Charitable Trust 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, Skolnick Family Charitable Trust 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 deficit of $1.4M, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation has consistently been reported as 0% across all available filings, indicating that the trust's leadership is either unpaid or compensated through other means not reported as officer compensation, which is a positive sign for resource allocation to charitable purposes.
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 Skolnick Family Charitable Trust's IRS 990 filings:
- Expenses frequently exceed annual revenue, potentially indicating reliance on asset drawdowns rather than sustainable operational funding from income alone.
Strengths
The following positive indicators were identified for Skolnick Family Charitable Trust:
- Strong program spending, as evidenced by high expenses relative to revenue in many years (e.g., $6.5M expenses in 2023 vs $5.1M revenue).
- Substantial and growing asset base, reaching over $90 million in 2023, providing long-term stability for grant-making.
- Zero reported officer compensation across all filings, indicating efficient use of funds for charitable purposes.
- Consistent filing history (10 filings), demonstrating good transparency and compliance.
- Low liabilities across most periods, suggesting sound financial management.
Frequently Asked Questions about Skolnick Family Charitable Trust
Is Skolnick Family Charitable Trust a legitimate charity?
Based on AI analysis of IRS 990 filings, Skolnick Family Charitable Trust (EIN: 116462058) some concerns. Mission Score: 90/100. 1 red flag identified, 5 strengths noted.
How does Skolnick Family Charitable Trust spend its money?
Skolnick Family Charitable Trust directs 95% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Skolnick Family Charitable Trust tax-deductible?
Skolnick Family Charitable Trust is registered as a tax-exempt nonprofit (EIN: 116462058). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Skolnick Family Charitable Trust a good charity?
Based on the available data, the Skolnick Family Charitable Trust appears to be a good charity. It consistently disburses significant funds (e.g., $6,528,394 in expenses in 2023) and maintains a very large asset base ($90,274,032 in 2023) to support its grant-making activities. The absence of officer compensation is a strong indicator of efficient use of funds for its mission.
How does the trust manage its expenses relative to its revenue?
The trust frequently incurs expenses that exceed its annual revenue, such as in 2023 where expenses were $6,528,394 against revenues of $5,107,429, and in 2021 where expenses were $5,207,116 against revenues of $1,866,598. This suggests a strategy of drawing from its substantial asset base ($86,196,787 latest assets) to fund its charitable distributions, rather than solely relying on annual income.
What is the trend in the trust's asset growth?
The trust has shown significant asset growth over the years, increasing from $15,748,415 in 2011 to $90,274,032 in 2023. This substantial increase in assets provides a strong foundation for its long-term charitable activities, despite fluctuations in annual revenue.
Filing History
IRS 990 filing history for Skolnick Family Charitable Trust showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Skolnick Family Charitable Trust's revenue has grown by 392.9%, moving from $1.0M to $5.1M. Total assets increased by 473.2% over the same period, from $15.7M to $90.3M. Total functional expenses rose by 709.9%, from $806K to $6.5M. In its most recent filing year (2023), Skolnick Family Charitable Trust reported a deficit of $1.4M, with expenses exceeding revenue. The organization holds $1 in liabilities against $90.3M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $90.3M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $5.1M | $6.5M | $90.3M | $1 | — | View 990 |
| 2022 | $11.2M | $5.9M | $91.7M | $1 | — | View 990 |
| 2021 | $1.9M | $5.2M | $86.6M | $224K | — | View 990 |
| 2020 | $658K | $5.5M | $90.0M | $1 | — | View 990 |
| 2019 | $-356,013 | $6.0M | $94.8M | $0 | — | View 990 |
| 2015 | $12.9M | $2.0M | $44.9M | $1 | — | View 990 |
| 2014 | $10.1M | $1.5M | $34.0M | $2K | — | View 990 |
| 2013 | $10.9M | $1.3M | $25.5M | $245 | — | View 990 |
| 2012 | $8.0M | $762K | $23.0M | $0 | — | View 990 |
| 2011 | $1.0M | $806K | $15.7M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $5.1M, expenses of $6.5M, and assets of $90.3M (revenue -54.4% year-over-year).
- 2022: Revenue of $11.2M, expenses of $5.9M, and assets of $91.7M (revenue +500.6% year-over-year).
- 2021: Revenue of $1.9M, expenses of $5.2M, and assets of $86.6M (revenue +183.5% year-over-year).
- 2020: Revenue of $658K, expenses of $5.5M, and assets of $90.0M.
- 2019: Revenue of $-356,013, expenses of $6.0M, and assets of $94.8M (revenue -102.8% year-over-year).
- 2015: Revenue of $12.9M, expenses of $2.0M, and assets of $44.9M (revenue +28.1% year-over-year).
- 2014: Revenue of $10.1M, expenses of $1.5M, and assets of $34.0M (revenue -8.1% year-over-year).
- 2013: Revenue of $10.9M, expenses of $1.3M, and assets of $25.5M (revenue +36.6% year-over-year).
- 2012: Revenue of $8.0M, expenses of $762K, and assets of $23.0M (revenue +673.4% year-over-year).
- 2011: Revenue of $1.0M, expenses of $806K, and assets of $15.7M.
Data Sources and Methodology
This transparency report for Skolnick Family Charitable Trust 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.