Swain Community Education Foundation Inc
Swain Community Education Foundation maintains strong assets and zero executive compensation despite recent operating deficits and rising liabilities.
EIN: 113688272 · Bryson City, NC · NTEE: B11 · Updated: 2026-03-28
Is Swain Community Education Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Swain Community Education Foundation Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Swain Community Education Foundation Inc
Swain Community Education Foundation Inc (EIN: 113688272) is a nonprofit organization based in Bryson City, NC, classified under NTEE code B11. The organization reported total revenue of $256K and total assets of $3.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Swain Community Education Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Swain Community Education Foundation Inc is a small nonprofit that has been operating for 22 years, with 12 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of 9.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $139K |
| Total Expenses | $159K |
| Surplus / Deficit | $-20,272 |
| Total Assets | $3.2M |
| Total Liabilities | $2.3M |
| Net Assets | $917K |
| Operating Margin | -14.6% |
| Debt-to-Asset Ratio | 71.2% |
| Months of Reserves | 240.6 months |
Financial Health Grade: C
In 2023, Swain Community Education Foundation Inc reported a deficit of $20K with expenses exceeding revenue, holds 240.6 months of operating reserves (strong position), has a debt-to-asset ratio of 71.2% (high leverage).
Financial Trends
Over 12 years of filings (2012–2023), Swain Community Education Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 9.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +8.0% | -13.1% | -2.2% |
| 2022 | -15.9% | -5.5% | -2.9% |
| 2021 | -28.7% | +24.5% | -2.4% |
| 2020 | +20.5% | +15.7% | -0.5% |
| 2019 | -24.2% | -1.1% | -0.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2004 |
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 Swain Community Education Foundation Inc with a Mission Score of 85 out of 100 (Excellent). 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, Swain Community Education Foundation Inc 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.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $20K, with expenses exceeding revenue.
- Debt-to-asset ratio: 71.2%.
Executive Compensation Analysis
Executive compensation has been consistently reported as 0% across all available filings, indicating a volunteer-led organization or one with no paid officers, which is highly favorable for directing funds to its mission.
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 Swain Community Education Foundation Inc's IRS 990 filings:
- Expenses have exceeded revenue for the last three reported periods (202106, 202206, 202306), indicating potential reliance on reserves or unsustainable operating deficits.
- Liabilities have grown significantly, reaching $2,269,648 in 202306, which represents a substantial portion of total assets and warrants further scrutiny.
Strengths
The following positive indicators were identified for Swain Community Education Foundation Inc:
- Consistently reports 0% officer compensation across all filings, indicating high efficiency and dedication to mission.
- Maintains a substantial asset base ($3,186,225 in 202306), demonstrating financial stability and capacity.
- Long history of consistent IRS 990 filings (12 filings), indicating good transparency and compliance.
- Significant growth in assets from 2016 to 2017, suggesting effective asset management or successful fundraising during that period.
Frequently Asked Questions about Swain Community Education Foundation Inc
Is Swain Community Education Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Swain Community Education Foundation Inc (EIN: 113688272) some concerns. Mission Score: 85/100. 2 red flags identified, 4 strengths noted.
How does Swain Community Education Foundation Inc spend its money?
Swain Community Education Foundation Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Swain Community Education Foundation Inc tax-deductible?
Swain Community Education Foundation Inc is registered as a tax-exempt nonprofit (EIN: 113688272). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Swain Community Education Foundation Inc a good charity?
Based on the available data, the foundation appears to be a good charity, primarily due to its 0% officer compensation, indicating a strong commitment to directing funds towards its mission. Its substantial asset base ($3,186,225 in 202306) also suggests financial stability.
Why have expenses exceeded revenue in recent years?
For the periods 202106, 202206, and 202306, expenses have exceeded revenue (e.g., $158,915 expenses vs. $138,643 revenue in 202306). This trend could indicate the organization is drawing from its reserves or other non-operating income to fund its activities, which warrants further investigation into its funding strategy.
What is the nature of the organization's liabilities?
Liabilities have significantly increased over time, reaching $2,269,648 in 202306. Understanding the specific nature of these liabilities (e.g., program-related investments, long-term debt, or deferred revenue) is crucial for a complete financial assessment, as they represent a substantial portion of total assets.
How does the organization sustain itself without executive compensation?
The consistent reporting of 0% officer compensation suggests that the organization is either entirely volunteer-run at the executive level or that executive functions are absorbed by other roles or entities. This model allows a greater proportion of funds to be allocated directly to programs.
Filing History
IRS 990 filing history for Swain Community Education Foundation Inc showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2023), Swain Community Education Foundation Inc's revenue has grown by 170.5%, moving from $51K to $139K. Total assets increased by 666.6% over the same period, from $416K to $3.2M. Total functional expenses rose by 884.5%, from $16K to $159K. In its most recent filing year (2023), Swain Community Education Foundation Inc reported a deficit of $20K, with expenses exceeding revenue. The organization holds $2.3M in liabilities against $3.2M in assets (debt-to-asset ratio: 71.2%), resulting in net assets of $917K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $139K | $159K | $3.2M | $2.3M | — | View 990 |
| 2022 | $128K | $183K | $3.3M | $2.3M | — | View 990 |
| 2021 | $153K | $194K | $3.4M | $2.4M | — | View 990 |
| 2020 | $214K | $155K | $3.4M | $2.4M | — | View 990 |
| 2019 | $178K | $134K | $3.5M | $2.5M | — | View 990 |
| 2018 | $234K | $136K | $3.5M | $2.5M | — | View 990 |
| 2017 | $116K | $16K | $863K | $31K | — | View 990 |
| 2016 | $105K | $14K | $732K | $0 | — | View 990 |
| 2015 | $252K | $21K | $640K | $0 | — | View 990 |
| 2014 | $86K | $33K | $624K | $215K | — | View 990 |
| 2013 | $68K | $16K | $459K | $104K | — | View 990 |
| 2012 | $51K | $16K | $416K | $111K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $139K, expenses of $159K, and assets of $3.2M (revenue +8.0% year-over-year).
- 2022: Revenue of $128K, expenses of $183K, and assets of $3.3M (revenue -15.9% year-over-year).
- 2021: Revenue of $153K, expenses of $194K, and assets of $3.4M (revenue -28.7% year-over-year).
- 2020: Revenue of $214K, expenses of $155K, and assets of $3.4M (revenue +20.5% year-over-year).
- 2019: Revenue of $178K, expenses of $134K, and assets of $3.5M (revenue -24.2% year-over-year).
- 2018: Revenue of $234K, expenses of $136K, and assets of $3.5M (revenue +102.3% year-over-year).
- 2017: Revenue of $116K, expenses of $16K, and assets of $863K (revenue +10.1% year-over-year).
- 2016: Revenue of $105K, expenses of $14K, and assets of $732K (revenue -58.3% year-over-year).
- 2015: Revenue of $252K, expenses of $21K, and assets of $640K (revenue +194.3% year-over-year).
- 2014: Revenue of $86K, expenses of $33K, and assets of $624K (revenue +26.9% year-over-year).
- 2013: Revenue of $68K, expenses of $16K, and assets of $459K (revenue +31.7% year-over-year).
- 2012: Revenue of $51K, expenses of $16K, and assets of $416K.
Data Sources and Methodology
This transparency report for Swain Community Education Foundation Inc 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.