The Charles Fund Inc
The Charles Fund Inc. consistently spends more than it earns, drawing down its substantial asset base.
EIN: 168064401 · Charlottesvle, VA · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $917K |
| Total Expenses | $628K |
| Program Spending | 80% |
| Net Assets | $8.4M |
| Transparency Score | 70/100 |
Is The Charles Fund Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
The Charles Fund Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About The Charles Fund Inc
The Charles Fund Inc (EIN: 168064401) is a nonprofit organization based in Charlottesvle, VA. The organization reported total revenue of $917K and total assets of $8.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of The Charles Fund Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
The Charles Fund Inc is a small nonprofit that has been operating for 60 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 3.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $403K |
| Total Expenses | $628K |
| Surplus / Deficit | $-224,903 |
| Total Assets | $8.4M |
| Total Liabilities | $1 |
| Net Assets | $8.4M |
| Operating Margin | -55.8% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 160.6 months |
Financial Health Grade: B
In 2023, The Charles Fund Inc reported a deficit of $225K with expenses exceeding revenue, holds 160.6 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), The Charles Fund Inc's revenue has grown at a compound annual growth rate (CAGR) of 3.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -18.8% | -10.6% | -2.6% |
| 2022 | -36.3% | +14.0% | -2.3% |
| 2021 | +42.2% | +0.0% | +1.9% |
| 2020 | +21.1% | +2.8% | -0.8% |
| 2019 | +732.2% | +3.2% | -10.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1230 |
| IRS Ruling Date | 1966 |
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 The Charles Fund Inc with a Mission Score of 70 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: 80%
- fundraising: 5%
According to IRS 990 filings, The Charles Fund Inc 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 $225K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The organization reports 0% officer compensation across all available filings, which is excellent and indicates that executive leadership is either unpaid or compensated through other means not classified as officer compensation, or that the organization is managed by volunteers.
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 The Charles Fund Inc's IRS 990 filings:
- Consistent operational deficits (expenses exceeding revenue) in most recent years, drawing down assets.
- Lack of detailed program spending breakdown in the provided summary, making efficiency assessment difficult.
- NTEE code is unknown, hindering understanding of its charitable purpose.
Strengths
The following positive indicators were identified for The Charles Fund Inc:
- Very strong balance sheet with substantial assets ($8.4 million in 2023) and minimal liabilities ($1).
- Zero officer compensation reported, indicating efficient use of funds regarding executive pay.
- Consistent filing history of IRS Form 990s, demonstrating transparency in financial reporting.
Frequently Asked Questions about The Charles Fund Inc
Is The Charles Fund Inc a legitimate charity?
The Charles Fund Inc (EIN: 168064401) is a registered tax-exempt nonprofit based in Virginia. Our AI analysis gives it a Mission Score of 70/100. It has 10 years of IRS 990 filings on record. Total revenue: $917K. 3 red flags identified. 3 strengths noted. Financial health grade: B.
How does The Charles Fund Inc spend its money?
The Charles Fund Inc directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to The Charles Fund Inc tax-deductible?
The Charles Fund Inc is registered as a tax-exempt nonprofit (EIN: 168064401). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of The Charles Fund Inc's spending goes to programs?
The Charles Fund Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is The Charles Fund Inc located?
The Charles Fund Inc is headquartered in Charlottesvle, Virginia and files with the IRS under EIN 168064401.
How many years of IRS 990 filings does The Charles Fund Inc have?
The Charles Fund Inc 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 $917K in total revenue.
What is the specific mission and program focus of The Charles Fund Inc.?
Based solely on the provided financial data, the specific mission and program focus are unclear. The NTEE code is unknown, and without program service expense details from the 990, it's difficult to ascertain what programs the organization funds or operates.
Is the consistent decline in assets a concern for long-term sustainability?
The assets have declined from over $10 million in 2014 to $8.4 million in 2023. While still substantial, if the trend of expenses exceeding revenue continues without sufficient investment returns, it could impact the fund's long-term ability to sustain its activities. For example, in 2023, expenses were $628,079 while revenue was $403,176.
How does the organization manage its investments to support its spending?
The financial data indicates a reliance on its asset base to cover operational shortfalls (e.g., $224,903 deficit in 2023). The performance of these investments is crucial, but specific details on investment management or returns are not available in this summary.
Filing History
IRS 990 filing history for The Charles Fund Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), The Charles Fund Inc's revenue has grown by 51.6%, moving from $266K to $403K. Total assets decreased by 13.1% over the same period, from $9.7M to $8.4M. Total functional expenses rose by 8.6%, from $579K to $628K. In its most recent filing year (2023), The Charles Fund Inc reported a deficit of $225K, 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 | $403K | $628K | $8.4M | $1 | — | View 990 |
| 2022 | $497K | $703K | $8.6M | $1 | — | View 990 |
| 2021 | $779K | $617K | $8.8M | $1 | — | View 990 |
| 2020 | $548K | $616K | $8.7M | $1 | — | — |
| 2019 | $453K | $599K | $8.7M | $1 | — | View 990 |
| 2015 | $54K | $581K | $9.7M | $1 | — | View 990 |
| 2014 | $975K | $561K | $10.2M | $0 | — | View 990 |
| 2013 | $516K | $562K | $9.8M | $0 | — | View 990 |
| 2012 | $824K | $616K | $9.9M | $0 | — | View 990 |
| 2011 | $266K | $579K | $9.7M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $403K, expenses of $628K, and assets of $8.4M (revenue -18.8% year-over-year).
- 2022: Revenue of $497K, expenses of $703K, and assets of $8.6M (revenue -36.3% year-over-year).
- 2021: Revenue of $779K, expenses of $617K, and assets of $8.8M (revenue +42.2% year-over-year).
- 2020: Revenue of $548K, expenses of $616K, and assets of $8.7M (revenue +21.1% year-over-year).
- 2019: Revenue of $453K, expenses of $599K, and assets of $8.7M (revenue +732.2% year-over-year).
- 2015: Revenue of $54K, expenses of $581K, and assets of $9.7M (revenue -94.4% year-over-year).
- 2014: Revenue of $975K, expenses of $561K, and assets of $10.2M (revenue +88.8% year-over-year).
- 2013: Revenue of $516K, expenses of $562K, and assets of $9.8M (revenue -37.3% year-over-year).
- 2012: Revenue of $824K, expenses of $616K, and assets of $9.9M (revenue +209.8% year-over-year).
- 2011: Revenue of $266K, expenses of $579K, and assets of $9.7M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for The Charles Fund Inc:
Data Sources and Methodology
This transparency report for The Charles Fund 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.