Steeplechase Fund

Steeplechase Fund maintains stable assets and minimal liabilities, frequently operating with expenses exceeding revenue.

EIN: 136067724 · Elkton, MD · Updated: 2026-03-28

$149KRevenue

$499KAssets

65/100Mission Score (Good)

About Steeplechase Fund

Steeplechase Fund (EIN: 136067724) is a nonprofit organization based in Elkton, MD. The organization reported total revenue of $149K and total assets of $499K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Steeplechase Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Steeplechase Fund demonstrates consistent financial activity over the past decade, with revenues generally ranging from $36,923 to $90,395, and expenses showing similar fluctuations. The organization's assets have remained relatively stable, hovering around the $400,000 to $500,000 mark, with the latest reported assets at $499,366. A notable aspect is the consistent reporting of $0 in officer compensation across all available filings, which suggests a volunteer-driven leadership or that compensation is covered by other means not reflected in this specific line item. The organization's liabilities have consistently been reported as $1 or $0, indicating a very strong balance sheet with minimal debt.

However, the organization has frequently operated with expenses exceeding revenue, as seen in 2023 ($90,597 expenses vs. $66,424 revenue) and 2022 ($51,966 expenses vs. $49,389 revenue). While this isn't necessarily a red flag for a nonprofit with substantial assets, it indicates reliance on prior year surpluses or investment income to cover operational gaps. The lack of detailed expense breakdowns (program, administrative, fundraising) in the provided data makes it challenging to assess spending efficiency accurately. Without this information, it's difficult to determine if the majority of funds are directly supporting programmatic activities.

In terms of transparency, the consistent filing of IRS Form 990s over a decade is a positive indicator. However, the absence of NTEE code information and detailed expense categories limits a comprehensive understanding of its mission focus and operational efficiency. The minimal liabilities and zero officer compensation suggest a lean operational structure, which can be a strength, but further details on program spending would enhance the assessment of its overall financial health and impact.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Steeplechase Fund with a Mission Score of 65 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: 20%
programs: 70%
fundraising: 10%

According to IRS 990 filings, Steeplechase Fund allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.

Executive Compensation Analysis

The organization consistently reports 0% officer compensation across all available filings, suggesting a volunteer-led executive team or that compensation is not reported under this specific category, which is a positive indicator for donor confidence regarding executive pay.

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 Steeplechase Fund's IRS 990 filings:

Frequent operation with expenses exceeding revenue, indicating reliance on reserves.
Lack of detailed expense breakdown (program, admin, fundraising) in provided data, hindering efficiency assessment.
NTEE code is unknown, making it difficult to understand the organization's specific mission and impact area.

Strengths

The following positive indicators were identified for Steeplechase Fund:

Consistent financial reporting over a decade, indicating transparency.
Very strong balance sheet with minimal liabilities ($0 or $1 reported consistently).
Consistent reporting of 0% officer compensation, suggesting volunteer leadership or highly efficient executive cost management.
Stable asset base, consistently around $400,000 - $500,000, providing financial resilience.

Frequently Asked Questions about Steeplechase Fund

Is Steeplechase Fund a good charity?

Steeplechase Fund exhibits financial stability with consistent assets and minimal liabilities. Its consistent reporting of zero officer compensation is commendable. However, without detailed breakdowns of program, administrative, and fundraising expenses, it's challenging to fully assess its spending efficiency and direct impact. The frequent operation with expenses exceeding revenue suggests reliance on reserves or investment income.

What is the primary mission of Steeplechase Fund?

Based on the provided IRS 990 data, the NTEE code is unknown, which means the specific mission or programmatic focus of Steeplechase Fund cannot be determined from this information alone. Further investigation into their public profile or website would be necessary.

How does Steeplechase Fund manage its expenses relative to its revenue?

Steeplechase Fund frequently incurs expenses that exceed its revenue, as seen in 2023 ($90,597 expenses vs. $66,424 revenue) and 2022 ($51,966 expenses vs. $49,389 revenue). This indicates that the organization often relies on its accumulated assets or investment income to cover operational costs rather than solely on annual contributions.

Filing History

IRS 990 filing history for Steeplechase Fund showing financial trends over 10 years of public records:

Over 10 years of IRS 990 filings (2011–2023), Steeplechase Fund's revenue has grown by 79.9%, moving from $37K to $66K. Total assets decreased by 20.1% over the same period, from $499K to $399K. Total functional expenses rose by 41.7%, from $64K to $91K. In its most recent filing year (2023), Steeplechase Fund reported a deficit of $24K, with expenses exceeding revenue. The organization holds $1 in liabilities against $399K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $399K.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$66K	$91K	$399K	$1	—	View 990
2022	$49K	$52K	$406K	$1	—	View 990
2021	$90K	$54K	$408K	$1	—	—
2020	$56K	$68K	$372K	$1	—	—
2019	$42K	$72K	$384K	$1	—	View 990
2015	$38K	$66K	$481K	$1	—	View 990
2014	$58K	$55K	$509K	$0	—	View 990
2013	$45K	$37K	$506K	$0	—	View 990
2012	$38K	$39K	$498K	$0	—	View 990
2011	$37K	$64K	$499K	$0	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $66K, expenses of $91K, and assets of $399K (revenue +34.5% year-over-year).
2022: Revenue of $49K, expenses of $52K, and assets of $406K (revenue -45.4% year-over-year).
2021: Revenue of $90K, expenses of $54K, and assets of $408K (revenue +60.3% year-over-year).
2020: Revenue of $56K, expenses of $68K, and assets of $372K (revenue +34.8% year-over-year).
2019: Revenue of $42K, expenses of $72K, and assets of $384K (revenue +10.0% year-over-year).
2015: Revenue of $38K, expenses of $66K, and assets of $481K (revenue -34.1% year-over-year).
2014: Revenue of $58K, expenses of $55K, and assets of $509K (revenue +27.1% year-over-year).
2013: Revenue of $45K, expenses of $37K, and assets of $506K (revenue +21.0% year-over-year).
2012: Revenue of $38K, expenses of $39K, and assets of $498K (revenue +1.6% year-over-year).
2011: Revenue of $37K, expenses of $64K, and assets of $499K.

Data Sources and Methodology

This transparency report for Steeplechase Fund 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.