Socrates Foundation
Socrates Foundation: Consistent Operations, Modest Revenue, and Strong Financial Health
EIN: 222620092 · Wheatland, WY · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $187K |
| Total Expenses | $37K |
| Program Spending | 70% |
| Net Assets | $1.1M |
| Transparency Score | 75/100 |
Is Socrates Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Socrates Foundation directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Socrates Foundation
Socrates Foundation (EIN: 222620092) is a nonprofit organization based in Wheatland, WY. The organization reported total revenue of $187K and total assets of $1.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Socrates Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Socrates Foundation is a small nonprofit that has been operating for 41 years, with 10 years of IRS 990 filings on record (2011–2023).
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $59K |
| Total Expenses | $37K |
| Surplus / Deficit | +$21K |
| Total Assets | $1.1M |
| Total Liabilities | $1 |
| Net Assets | $1.1M |
| Operating Margin | 36.5% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 350.9 months |
Financial Health Grade: A
In 2023, Socrates Foundation reported a surplus of $21K with revenue exceeding expenses, holds 350.9 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -45.2% | +10.9% | -0.4% |
| 2022 | -25.1% | -71.4% | +7.0% |
| 2021 | +1.2% | +14.5% | +2.8% |
| 2020 | +68.7% | -0.2% | +4.0% |
| 2019 | -9.3% | +38.7% | +7.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1985 |
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 Socrates Foundation 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: 70%
- fundraising: 15%
According to IRS 990 filings, Socrates Foundation allocates its expenses as follows: admin: 15%, programs: 70%, fundraising: 15%. 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 surplus of $21K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is not explicitly detailed in the provided data, but given the modest revenue and expense figures, it is likely to be reasonable and in line with similar small nonprofits.
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 Socrates Foundation's IRS 990 filings:
- Revenue has shown a declining trend from $143,106 in 2021 to $58,731 in 2023, which warrants further investigation into funding sources.
Strengths
The following positive indicators were identified for Socrates Foundation:
- The organization consistently maintains low liabilities (e.g., $1 in 2023), indicating strong financial stability.
- Assets have remained relatively stable over the years, demonstrating good asset management despite revenue fluctuations.
- The organization has a long history of filings, suggesting consistent operation and commitment to transparency.
Frequently Asked Questions about Socrates Foundation
Is Socrates Foundation a legitimate charity?
Socrates Foundation (EIN: 222620092) is a registered tax-exempt nonprofit based in Wyoming. Our AI analysis gives it a Mission Score of 75/100. It has 10 years of IRS 990 filings on record. Total revenue: $187K. 1 red flag identified. 3 strengths noted. Financial health grade: A.
How does Socrates Foundation spend its money?
Socrates Foundation directs 70% of its spending to programs and services. Fundraising costs 15%. This meets the 65% industry benchmark.
Are donations to Socrates Foundation tax-deductible?
Socrates Foundation is registered as a tax-exempt nonprofit (EIN: 222620092). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Socrates Foundation's spending goes to programs?
Socrates Foundation directs 70% to programs, 15% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
Where is Socrates Foundation located?
Socrates Foundation is headquartered in Wheatland, Wyoming and files with the IRS under EIN 222620092.
How many years of IRS 990 filings does Socrates Foundation have?
Socrates 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 $187K in total revenue.
What does Socrates Foundation do?
Socrates Foundation is a nonprofit organization in the Unknown sector, located in Wheatland, Wyoming. It is classified under NTEE code Unknown.
How much revenue does Socrates Foundation have?
Socrates Foundation reported total revenue of $186,841. Based on 10 IRS 990 filings on record.
What are Socrates Foundation's total assets?
Socrates Foundation holds total assets of $1,075,383 as reported in IRS 990 filings.
Where is Socrates Foundation located?
Socrates Foundation is based in Wheatland, Wyoming.
What is Socrates Foundation's EIN?
Socrates Foundation's Employer Identification Number (EIN) is 222620092. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Socrates Foundation?
Socrates Foundation is classified under NTEE code Unknown (Unknown).
Is Socrates Foundation a registered 501(c)(3)?
Socrates Foundation appears in IRS records (EIN: 222620092). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Socrates Foundation file IRS Form 990?
Yes, Socrates Foundation has 10 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Socrates Foundation's revenue in 2023?
In the 202312 filing period, Socrates Foundation reported total revenue of $58,731, total expenses of $37,276, and net assets of $1,089,902.
Is Socrates Foundation's revenue growing or declining?
Socrates Foundation's revenue is declining. Revenue went from $107,155 (202212) to $58,731 (202312), a -45.2% change. Based on 10 filings on record.
What is Socrates Foundation's most recent 990 filing?
The most recent IRS Form 990 filing for Socrates Foundation covers tax period 202312. It shows revenue of $58,731, expenses of $37,276, total assets of $1,089,902, and liabilities of $1.
How much does Socrates Foundation spend on programs vs administration?
Based on IRS 990 analysis, Socrates Foundation allocates approximately 70% of expenses to program services, 15% to administrative costs, and 15% to fundraising. Program spending is moderate relative to overhead.
Is Socrates Foundation a trustworthy charity?
Based on AI analysis of IRS 990 data, Socrates Foundation appears trustworthy. Mission Score: 75/100 (Good). 1 red flag identified. 3 strengths noted.
What are the red flags for Socrates Foundation?
The following concerns were identified: Revenue has shown a declining trend from $143,106 in 2021 to $58,731 in 2023, which warrants further investigation into funding sources.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Socrates Foundation's strengths?
Positive indicators for Socrates Foundation include: The organization consistently maintains low liabilities (e.g., $1 in 2023), indicating strong financial stability.. Assets have remained relatively stable over the years, demonstrating good asset management despite revenue fluctuations.. The organization has a long history of filings, suggesting consistent operation and commitment to transparency.. These findings are derived from AI analysis of the organization's financial filings.
How does Socrates Foundation compensate executives?
Executive compensation is not explicitly detailed in the provided data, but given the modest revenue and expense figures, it is likely to be reasonable and in line with similar small nonprofits. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
What is the primary cause of the significant drop in revenue from $143,106 in 2021 to $58,731 in 2023, and what strategies are in place to address this trend?
The provided data shows a notable decline in revenue over the last three years. Understanding the specific reasons (e.g., loss of a major donor, change in fundraising strategy, economic factors) and the organization's plan to reverse this trend is crucial for assessing future sustainability.
Filing History
IRS 990 filing history for Socrates Foundation showing financial trends over 10 years of public records:
Total assets increased by 18.8% over the same period, from $917K to $1.1M. Total functional expenses fell by 37.6%, from $60K to $37K. In its most recent filing year (2023), Socrates Foundation reported a surplus of $21K, with revenue exceeding expenses. The organization holds $1 in liabilities against $1.1M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $1.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $59K | $37K | $1.1M | $1 | — | — |
| 2022 | $107K | $34K | $1.1M | $1 | — | View 990 |
| 2021 | $143K | $118K | $1.0M | $2K | — | View 990 |
| 2020 | $141K | $103K | $995K | $1 | — | — |
| 2019 | $84K | $103K | $956K | $1 | — | View 990 |
| 2015 | $92K | $74K | $891K | $1 | — | View 990 |
| 2014 | $79K | $87K | $873K | $1 | — | View 990 |
| 2013 | $77K | $92K | $881K | $1 | — | View 990 |
| 2012 | $59K | $74K | $903K | $7K | — | View 990 |
| 2011 | $-3,338 | $60K | $917K | $7K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $59K, expenses of $37K, and assets of $1.1M (revenue -45.2% year-over-year).
- 2022: Revenue of $107K, expenses of $34K, and assets of $1.1M (revenue -25.1% year-over-year).
- 2021: Revenue of $143K, expenses of $118K, and assets of $1.0M (revenue +1.2% year-over-year).
- 2020: Revenue of $141K, expenses of $103K, and assets of $995K (revenue +68.7% year-over-year).
- 2019: Revenue of $84K, expenses of $103K, and assets of $956K (revenue -9.3% year-over-year).
- 2015: Revenue of $92K, expenses of $74K, and assets of $891K (revenue +17.1% year-over-year).
- 2014: Revenue of $79K, expenses of $87K, and assets of $873K (revenue +2.6% year-over-year).
- 2013: Revenue of $77K, expenses of $92K, and assets of $881K (revenue +29.3% year-over-year).
- 2012: Revenue of $59K, expenses of $74K, and assets of $903K.
- 2011: Revenue of $-3,338, expenses of $60K, and assets of $917K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Socrates Foundation:
Data Sources and Methodology
This transparency report for Socrates 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.