Skynyrd Foundation
EIN: 272761116 · Nashville, TN · NTEE: X20
| Metric | Value |
|---|---|
| Total Revenue | $242K |
| Total Expenses | $229K |
| Net Assets | $211K |
Is Skynyrd Foundation Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Skynyrd Foundation
Skynyrd Foundation (EIN: 272761116) is a nonprofit organization based in Nashville, TN, classified under NTEE code X20. The organization reported total revenue of $242K and total assets of $225K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Skynyrd Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Skynyrd Foundation is a small nonprofit that has been operating for 15 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 5.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $259K |
| Total Expenses | $229K |
| Surplus / Deficit | +$30K |
| Total Assets | $211K |
| Total Liabilities | $1 |
| Net Assets | $211K |
| Operating Margin | 11.5% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 11.1 months |
Financial Health Grade: A
In 2023, Skynyrd Foundation reported a surplus of $30K with revenue exceeding expenses, holds 11.1 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), Skynyrd Foundation's revenue has grown at a compound annual growth rate (CAGR) of 5.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +105.8% | +162.4% | +16.5% |
| 2022 | +8.1% | -65.2% | +27.0% |
| 2021 | +1352.7% | +115.0% | -48.6% |
| 2020 | -98.0% | -66.7% | -28.2% |
| 2019 | +331.0% | +149.4% | +1085.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2011 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Skynyrd Foundation has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Skynyrd Foundation with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $30K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.0%.
Frequently Asked Questions about Skynyrd Foundation
Is Skynyrd Foundation a legitimate charity?
Skynyrd Foundation (EIN: 272761116) is a registered tax-exempt nonprofit based in Tennessee. It has 10 years of IRS 990 filings on record. Total revenue: $242K. No red flags identified. Financial health grade: A.
How does Skynyrd Foundation spend its money?
Skynyrd Foundation reported $242K in total revenue in IRS 990 filings. 10 years of filing data available. Revenue exceeded expenses in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Skynyrd Foundation tax-deductible?
Skynyrd Foundation is registered as a tax-exempt nonprofit (EIN: 272761116). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Skynyrd Foundation located?
Skynyrd Foundation is headquartered in Nashville, Tennessee and files with the IRS under EIN 272761116. It is classified under NTEE code X20.
How many years of IRS 990 filings does Skynyrd Foundation have?
Skynyrd 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 $242K in total revenue.
Filing History
IRS 990 filing history for Skynyrd Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Skynyrd Foundation's revenue has grown by 96.1%, moving from $132K to $259K. Total assets increased by 27.9% over the same period, from $165K to $211K. Total functional expenses rose by 212.9%, from $73K to $229K. In its most recent filing year (2023), Skynyrd Foundation reported a surplus of $30K, with revenue exceeding expenses. The organization holds $1 in liabilities against $211K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $211K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $259K | $229K | $211K | $1 | — | — |
| 2022 | $126K | $87K | $181K | $1 | — | View 990 |
| 2021 | $116K | $251K | $143K | $1 | — | View 990 |
| 2020 | $8K | $117K | $277K | $0 | — | View 990 |
| 2019 | $393K | $351K | $386K | $1 | — | — |
| 2015 | $91K | $141K | $33K | $1 | — | View 990 |
| 2014 | $99K | $156K | $84K | $2K | — | View 990 |
| 2013 | $135K | $69K | $139K | $1 | — | View 990 |
| 2012 | $72K | $164K | $73K | $1 | — | View 990 |
| 2011 | $132K | $73K | $165K | $548 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $259K, expenses of $229K, and assets of $211K (revenue +105.8% year-over-year).
- 2022: Revenue of $126K, expenses of $87K, and assets of $181K (revenue +8.1% year-over-year).
- 2021: Revenue of $116K, expenses of $251K, and assets of $143K (revenue +1352.7% year-over-year).
- 2020: Revenue of $8K, expenses of $117K, and assets of $277K (revenue -98.0% year-over-year).
- 2019: Revenue of $393K, expenses of $351K, and assets of $386K (revenue +331.0% year-over-year).
- 2015: Revenue of $91K, expenses of $141K, and assets of $33K (revenue -7.6% year-over-year).
- 2014: Revenue of $99K, expenses of $156K, and assets of $84K (revenue -26.9% year-over-year).
- 2013: Revenue of $135K, expenses of $69K, and assets of $139K (revenue +87.1% year-over-year).
- 2012: Revenue of $72K, expenses of $164K, and assets of $73K (revenue -45.4% year-over-year).
- 2011: Revenue of $132K, expenses of $73K, and assets of $165K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Skynyrd Foundation:
Data Sources and Methodology
This transparency report for Skynyrd 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.