The Karnell Foundation Inc
Karnell Foundation shows significant asset growth and no reported officer compensation, despite a recent negative revenue period.
EIN: 208117573 · Phoenix, AZ · NTEE: T20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $3.2M |
| Total Expenses | $205K |
| Program Spending | 85% |
| CEO/Top Officer Pay | $4.5 |
| Net Assets | $4.5M |
| Transparency Score | 85/100 |
Is The Karnell Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
The Karnell Foundation Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About The Karnell Foundation Inc
The Karnell Foundation Inc (EIN: 208117573) is a nonprofit organization based in Phoenix, AZ, classified under NTEE code T20. The organization reported total revenue of $3.2M and total assets of $4.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of The Karnell Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
The Karnell Foundation Inc is a mid-size nonprofit that has been operating for 19 years, with 10 years of IRS 990 filings on record (2011–2023).
Financial Trends
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -103.9% | -14.7% | -5.7% |
| 2022 | -20.8% | -12.3% | +44.8% |
| 2021 | +127.7% | +98.8% | +135.3% |
| 2020 | +614.1% | +17.6% | +139.3% |
| 2019 | +33.7% | +44.6% | +101.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2007 |
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 Karnell 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: 85%
- fundraising: 5%
According to IRS 990 filings, The Karnell Foundation Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% 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:
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The Karnell Foundation consistently reports 0% officer compensation across all available filings, indicating that no salaries or other compensation are paid to its officers, which is highly unusual for an organization of its size with assets exceeding $4.5 million.
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 Karnell Foundation Inc's IRS 990 filings:
- Negative revenue reported in the latest filing (202312) without immediate explanation.
- Lack of detailed expense breakdown (program, admin, fundraising) in provided data makes full efficiency assessment difficult.
Strengths
The following positive indicators were identified for The Karnell Foundation Inc:
- Consistent and significant asset growth over the past decade, from $201,979 in 201112 to $4,512,759 in 202312.
- Zero reported officer compensation across all filings, indicating low executive overhead.
- Very low liabilities (consistently $0 or $1), suggesting strong financial stability and no reliance on debt.
- Consistent filing of IRS Form 990s for over a decade, demonstrating good regulatory compliance.
Frequently Asked Questions about The Karnell Foundation Inc
Is The Karnell Foundation Inc a legitimate charity?
The Karnell Foundation Inc (EIN: 208117573) is a registered tax-exempt nonprofit based in Arizona. Our AI analysis gives it a Mission Score of 85/100. It has 10 years of IRS 990 filings on record. Total revenue: $3.2M. 2 red flags identified. 4 strengths noted. Financial health grade: B.
How does The Karnell Foundation Inc spend its money?
The Karnell Foundation Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to The Karnell Foundation Inc tax-deductible?
The Karnell Foundation Inc is registered as a tax-exempt nonprofit (EIN: 208117573). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the The Karnell Foundation Inc CEO make?
The Karnell Foundation Inc's highest-compensated officer earns $4.5 annually. The organization reported $3.2M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of The Karnell Foundation Inc's spending goes to programs?
The Karnell Foundation Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does The Karnell Foundation Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), The Karnell Foundation Inc is above average for NTEE category T20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is The Karnell Foundation Inc located?
The Karnell Foundation Inc is headquartered in Phoenix, Arizona and files with the IRS under EIN 208117573. It is classified under NTEE code T20.
How many years of IRS 990 filings does The Karnell Foundation Inc have?
The Karnell Foundation 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 $3.2M in total revenue.
Why did The Karnell Foundation Inc report negative revenue in 202312?
The filing for period 202312 shows revenue of $-66,572. This could be due to investment losses, significant returns of grants, or an accounting adjustment. Further investigation into the specific 990 form would be needed to understand the exact cause.
How does The Karnell Foundation Inc manage to operate with no reported officer compensation?
The consistent reporting of 0% officer compensation suggests that the foundation may be entirely volunteer-run at the executive level, or that its officers are compensated through other means not reported as officer compensation on the 990, or that it outsources management functions.
What is the primary use of The Karnell Foundation Inc's assets?
Given its NTEE code T20 (Philanthropy, Voluntarism, and Grantmaking Foundations) and substantial assets of $4,512,759 in 202312, it is highly probable that the assets are primarily held as an endowment or investment fund to generate income for grantmaking activities.
Is the recent decline in assets from $4,784,630 in 202212 to $4,512,759 in 202312 a concern?
While there was a decrease in assets, it's a relatively small fluctuation (approx. 5.7%) compared to the overall asset base and could be attributed to market performance or increased grant disbursements. The long-term trend shows significant asset growth.
Filing History
IRS 990 filing history for The Karnell Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), The Karnell Foundation Inc's revenue has declined by 120.9%, moving from $319K to $-66,572. Total assets increased by 2134.3% over the same period, from $202K to $4.5M. Total functional expenses rose by 23.1%, from $167K to $205K. The organization holds $1 in liabilities against $4.5M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $4.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $-66,572 | $205K | $4.5M | $1 | — | — |
| 2022 | $1.7M | $241K | $4.8M | $1 | — | View 990 |
| 2021 | $2.2M | $275K | $3.3M | $1 | — | — |
| 2020 | $955K | $138K | $1.4M | $1 | — | — |
| 2019 | $134K | $117K | $587K | $1 | — | View 990 |
| 2015 | $100K | $81K | $291K | $1 | — | View 990 |
| 2014 | $100K | $71K | $272K | $0 | — | View 990 |
| 2013 | $85K | $69K | $243K | $1 | — | View 990 |
| 2012 | $138K | $113K | $227K | $1 | — | View 990 |
| 2011 | $319K | $167K | $202K | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $-66,572, expenses of $205K, and assets of $4.5M (revenue -103.9% year-over-year).
- 2022: Revenue of $1.7M, expenses of $241K, and assets of $4.8M (revenue -20.8% year-over-year).
- 2021: Revenue of $2.2M, expenses of $275K, and assets of $3.3M (revenue +127.7% year-over-year).
- 2020: Revenue of $955K, expenses of $138K, and assets of $1.4M (revenue +614.1% year-over-year).
- 2019: Revenue of $134K, expenses of $117K, and assets of $587K (revenue +33.7% year-over-year).
- 2015: Revenue of $100K, expenses of $81K, and assets of $291K (revenue +-0.0% year-over-year).
- 2014: Revenue of $100K, expenses of $71K, and assets of $272K (revenue +18.3% year-over-year).
- 2013: Revenue of $85K, expenses of $69K, and assets of $243K (revenue -38.8% year-over-year).
- 2012: Revenue of $138K, expenses of $113K, and assets of $227K (revenue -56.7% year-over-year).
- 2011: Revenue of $319K, expenses of $167K, and assets of $202K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for The Karnell Foundation Inc:
Data Sources and Methodology
This transparency report for The Karnell 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.