Sprott Family Foundation

Sprott Family Foundation's assets have significantly declined due to expenses consistently exceeding modest revenues.

EIN: 161629054 · Louisville, KY · NTEE: L20 · Updated: 2026-03-28

$1KRevenue

$19KAssets

60/100Mission Score (Good)

L20

About Sprott Family Foundation

Sprott Family Foundation (EIN: 161629054) is a nonprofit organization based in Louisville, KY, classified under NTEE code L20. The organization reported total revenue of $1K and total assets of $19K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Sprott Family Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

The Sprott Family Foundation appears to be a very small private foundation with limited financial activity. Its latest reported revenue is only $1,328, and total assets are $19,298. The organization consistently reports zero officer compensation, which is a positive indicator for a small foundation. However, the foundation has shown a pattern of expenses exceeding revenue in several recent periods, notably in 2023 where expenses were $22,781 against revenue of $1,229, leading to a significant decrease in assets. This trend suggests that the foundation may be drawing down its principal or operating at a deficit, which is not sustainable long-term without new significant contributions.

Given its small scale, the foundation's financial health is highly dependent on its asset base and any incoming contributions. The substantial drop in assets from $45,196 in 2022 to $23,644 in 2023, and further to $19,298 currently, is a concern. While the lack of officer compensation indicates good stewardship in that regard, the overall financial strategy, particularly the consistent spending exceeding revenue, needs closer examination to ensure the foundation's longevity and ability to fulfill its mission. The NTEE code L20 (Private Grantmaking Foundations) suggests its primary activity is making grants, but without detailed expense breakdowns, it's difficult to assess spending efficiency beyond the zero compensation.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Sprott Family Foundation with a Mission Score of 60 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: 10%
programs: 90%
fundraising: 0%

According to IRS 990 filings, Sprott Family Foundation allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

Executive compensation is consistently reported as 0%, indicating that no salaries are paid to officers, which is appropriate for an organization of this size and type, especially given its limited revenue.

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 Sprott Family Foundation's IRS 990 filings:

Consistent pattern of expenses exceeding revenue, particularly in 2023 where expenses were $22,781 against revenue of $1,229.
Significant decline in assets from $45,196 in 2022 to $19,298 currently, indicating a draw-down of principal.
Very low current revenue of $1,328, making it challenging to cover operational costs or make significant grants.

Strengths

The following positive indicators were identified for Sprott Family Foundation:

Consistently reports 0% officer compensation, indicating efficient use of funds in terms of executive salaries.
Low liabilities, consistently reported as $0 or $1, suggesting good financial management of debt.

Frequently Asked Questions about Sprott Family Foundation

Is Sprott Family Foundation financially sustainable?

The foundation's financial sustainability is questionable given that expenses have frequently exceeded revenue, most notably in 2023 where expenses were $22,781 against revenue of $1,229, leading to a significant draw-down of assets. This trend is not sustainable long-term without new funding sources.

What caused the significant asset decline in 2023?

The significant asset decline in 2023, from $45,196 to $23,644, was primarily driven by expenses of $22,781 far exceeding revenue of $1,229 in that period.

Does the foundation pay its officers?

No, the foundation consistently reports 0% officer compensation across all available filings, indicating no salaries are paid to its officers.

Filing History

IRS 990 filing history for Sprott Family Foundation showing financial trends over 10 years of public records:

Over 10 years of IRS 990 filings (2011–2023), Sprott Family Foundation's revenue has declined by 86.7%, moving from $9K to $1K. Total assets decreased by 47.1% over the same period, from $45K to $24K. Total functional expenses rose by 74.8%, from $13K to $23K. In its most recent filing year (2023), Sprott Family Foundation reported a deficit of $22K, with expenses exceeding revenue. The organization holds $1 in liabilities against $24K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $24K.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$1K	$23K	$24K	$1	—	—
2022	$7K	$6K	$45K	$1	—	View 990
2021	$15K	$10K	$44K	$1	—	View 990
2020	$11K	$9K	$39K	$1	—	View 990
2019	$9K	$9K	$37K	$0	—	View 990
2015	$8K	$7K	$44K	$0	—	View 990
2014	$8K	$6K	$43K	$0	—	View 990
2013	$7K	$8K	$42K	$0	—	View 990
2012	$8K	$10K	$43K	$0	—	View 990
2011	$9K	$13K	$45K	$0	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $1K, expenses of $23K, and assets of $24K (revenue -83.2% year-over-year).
2022: Revenue of $7K, expenses of $6K, and assets of $45K (revenue -51.2% year-over-year).
2021: Revenue of $15K, expenses of $10K, and assets of $44K (revenue +37.1% year-over-year).
2020: Revenue of $11K, expenses of $9K, and assets of $39K (revenue +19.9% year-over-year).
2019: Revenue of $9K, expenses of $9K, and assets of $37K (revenue +15.2% year-over-year).
2015: Revenue of $8K, expenses of $7K, and assets of $44K (revenue -3.8% year-over-year).
2014: Revenue of $8K, expenses of $6K, and assets of $43K (revenue +10.2% year-over-year).
2013: Revenue of $7K, expenses of $8K, and assets of $42K (revenue -4.3% year-over-year).
2012: Revenue of $8K, expenses of $10K, and assets of $43K (revenue -15.6% year-over-year).
2011: Revenue of $9K, expenses of $13K, and assets of $45K.

Data Sources and Methodology

This transparency report for Sprott Family 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.