Steven & Katherine Markelfoundation
Steven & Katherine Markelfoundation consistently spends significantly more than its revenue, drawing down assets.
EIN: 205331849 · Richmond, VA · NTEE: T20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $802K |
| Total Expenses | $972K |
| Program Spending | 80% |
| Net Assets | $8.4M |
| Transparency Score | 45/100 |
Is Steven & Katherine Markelfoundation Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Steven & Katherine Markelfoundation directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Steven & Katherine Markelfoundation
Steven & Katherine Markelfoundation (EIN: 205331849) is a nonprofit organization based in Richmond, VA, classified under NTEE code T20. The organization reported total revenue of $802K and total assets of $9.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Steven & Katherine Markelfoundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Steven & Katherine Markelfoundation is a small nonprofit that has been operating for 20 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -22.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $110K |
| Total Expenses | $972K |
| Surplus / Deficit | $-862,118 |
| Total Assets | $8.4M |
| Total Liabilities | $1 |
| Net Assets | $8.4M |
| Operating Margin | -786.2% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 104.2 months |
Financial Health Grade: B
In 2023, Steven & Katherine Markelfoundation reported a deficit of $862K with expenses exceeding revenue, holds 104.2 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), Steven & Katherine Markelfoundation's revenue has declined at a compound annual growth rate (CAGR) of -22.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -56.2% | -2.0% | -4.0% |
| 2022 | +63.5% | +14.8% | -2.1% |
| 2021 | +37751.4% | -14.8% | -2.6% |
| 2020 | -90.6% | -1.8% | -5.2% |
| 2019 | -99.8% | +101.3% | +1.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2006 |
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 Steven & Katherine Markelfoundation with a Mission Score of 45 out of 100 (Fair). 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: 80%
- fundraising: 5%
According to IRS 990 filings, Steven & Katherine Markelfoundation allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% 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 $862K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The organization reports 0% officer compensation across all provided filings, indicating that no salaries are paid to its officers, which is a positive for minimizing administrative costs.
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 Steven & Katherine Markelfoundation's IRS 990 filings:
- Consistent and significant deficit spending (e.g., $971,768 expenses vs. $109,650 revenue in 2023).
- Declining asset base over recent years, suggesting reliance on principal for operations.
- Lack of detailed expense breakdown in provided data makes it difficult to assess program efficiency.
Strengths
The following positive indicators were identified for Steven & Katherine Markelfoundation:
- Zero officer compensation reported, indicating low executive overhead.
- Substantial asset base of nearly $9 million provides a buffer despite deficit spending.
Frequently Asked Questions about Steven & Katherine Markelfoundation
Is Steven & Katherine Markelfoundation a legitimate charity?
Steven & Katherine Markelfoundation (EIN: 205331849) is a registered tax-exempt nonprofit based in Virginia. Our AI analysis gives it a Mission Score of 45/100. It has 10 years of IRS 990 filings on record. Total revenue: $802K. 3 red flags identified. 2 strengths noted. Financial health grade: B.
How does Steven & Katherine Markelfoundation spend its money?
Steven & Katherine Markelfoundation directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Steven & Katherine Markelfoundation tax-deductible?
Steven & Katherine Markelfoundation is registered as a tax-exempt nonprofit (EIN: 205331849). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Steven & Katherine Markelfoundation's spending goes to programs?
Steven & Katherine Markelfoundation directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Steven & Katherine Markelfoundation compare to similar nonprofits?
With a transparency score of 45/100 (Fair), Steven & Katherine Markelfoundation is near average for NTEE category T20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Steven & Katherine Markelfoundation located?
Steven & Katherine Markelfoundation is headquartered in Richmond, Virginia and files with the IRS under EIN 205331849. It is classified under NTEE code T20.
How many years of IRS 990 filings does Steven & Katherine Markelfoundation have?
Steven & Katherine Markelfoundation 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 $802K in total revenue.
Is Steven & Katherine Markelfoundation financially sustainable?
Based on recent filings, the foundation is not financially sustainable through its current revenue streams, as expenses consistently exceed revenue by a large margin (e.g., $971,768 expenses vs. $109,650 revenue in 2023). It appears to be relying on its asset base to cover these deficits.
How does the foundation cover its significant annual deficits?
The foundation likely covers its annual deficits by drawing down its substantial asset base, which has decreased from $9,724,334 in 2019 to $8,440,859 in 2023.
What is the purpose of the foundation's large asset base?
The foundation's asset base of nearly $9 million likely serves as an endowment, providing investment income and potentially principal for grantmaking or operational expenses, especially given the consistent revenue shortfalls.
Filing History
IRS 990 filing history for Steven & Katherine Markelfoundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Steven & Katherine Markelfoundation's revenue has declined by 95.5%, moving from $2.5M to $110K. Total assets increased by 14.9% over the same period, from $7.3M to $8.4M. Total functional expenses rose by 479.1%, from $168K to $972K. In its most recent filing year (2023), Steven & Katherine Markelfoundation reported a deficit of $862K, with expenses exceeding revenue. The organization holds $1 in liabilities against $8.4M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $8.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $110K | $972K | $8.4M | $1 | — | View 990 |
| 2022 | $251K | $992K | $8.8M | $1 | — | View 990 |
| 2021 | $153K | $864K | $9.0M | $1 | — | — |
| 2020 | $405 | $1.0M | $9.2M | $1 | — | — |
| 2019 | $4K | $1.0M | $9.7M | $1 | — | View 990 |
| 2015 | $1.8M | $513K | $9.6M | $0 | — | View 990 |
| 2014 | $1.1M | $428K | $8.1M | $0 | — | View 990 |
| 2013 | $591K | $337K | $7.4M | $0 | — | View 990 |
| 2012 | $40K | $262K | $7.1M | $0 | — | View 990 |
| 2011 | $2.5M | $168K | $7.3M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $110K, expenses of $972K, and assets of $8.4M (revenue -56.2% year-over-year).
- 2022: Revenue of $251K, expenses of $992K, and assets of $8.8M (revenue +63.5% year-over-year).
- 2021: Revenue of $153K, expenses of $864K, and assets of $9.0M (revenue +37751.4% year-over-year).
- 2020: Revenue of $405, expenses of $1.0M, and assets of $9.2M (revenue -90.6% year-over-year).
- 2019: Revenue of $4K, expenses of $1.0M, and assets of $9.7M (revenue -99.8% year-over-year).
- 2015: Revenue of $1.8M, expenses of $513K, and assets of $9.6M (revenue +63.9% year-over-year).
- 2014: Revenue of $1.1M, expenses of $428K, and assets of $8.1M (revenue +82.3% year-over-year).
- 2013: Revenue of $591K, expenses of $337K, and assets of $7.4M (revenue +1376.8% year-over-year).
- 2012: Revenue of $40K, expenses of $262K, and assets of $7.1M (revenue -98.4% year-over-year).
- 2011: Revenue of $2.5M, expenses of $168K, and assets of $7.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Steven & Katherine Markelfoundation:
Data Sources and Methodology
This transparency report for Steven & Katherine Markelfoundation 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.