The Walter F & Alice Gorham Foundation Inc

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The Walter F & Alice Gorham Foundation Inc Form 990, Revenue, CEO Pay, and IRS Filing Signals

The Walter F & Alice Gorham Foundation Inc is surfaced here as a decision-ready nonprofit financial profile, not just a charity listing. The page consolidates IRS Form 990 revenue, expenses, assets, tax-exempt classification, executive compensation, mission score, red flags, and year-by-year filing history so donors, researchers, journalists, and grant teams can answer the common search questions around The Walter F & Alice Gorham Foundation Inc in one place.

Is The Walter F & Alice Gorham Foundation Inc Legit?

Significant Concerns

Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →

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Across stored filings, The Walter F & Alice Gorham Foundation Inc shows contribution history pending. Next enrichment targets: revenue-source fields, functional expense detail, IRS BMF classification.

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Turn this Form 990 profile into a donor-ready report

Request a concise report for The Walter F & Alice Gorham Foundation Inc with revenue, expenses, executive compensation, red flags, peer context, and IRS source links. You can also request CSV exports or watchlist updates for future filings.

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About The Walter F & Alice Gorham Foundation Inc

The Walter F & Alice Gorham Foundation Inc (EIN: 222984225) is a nonprofit organization based in Whippany, NJ. The organization reported total revenue of $842K and total assets of $1.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of The Walter F & Alice Gorham Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

Organization Overview

The Walter F & Alice Gorham Foundation Inc is a small nonprofit that has been operating for 37 years, with 10 years of IRS 990 filings on record (2012–2024). Revenue has grown at a compound annual rate of -2.4%.

Key Financial Metrics (2024)

From the most recent IRS 990 filing on record:

Financial Health Grade: B

In 2024, The Walter F & Alice Gorham Foundation Inc reported a deficit of $84K with expenses exceeding revenue, holds 91.6 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 (2012–2024), The Walter F & Alice Gorham Foundation Inc's revenue has declined at a compound annual growth rate (CAGR) of -2.4%.

IRS Tax-Exempt Classification

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 Walter F & Alice Gorham Foundation Inc 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: 100%
• programs: 0%
• fundraising: 0%

According to IRS 990 filings, The Walter F & Alice Gorham Foundation Inc allocates its expenses as follows: admin: 100%, programs: 0%, fundraising: 0%.

Key Financial Metrics (2024)

From the most recent IRS 990 filing on record:

• The organization reported a deficit of $84K, with expenses exceeding revenue.
• Debt-to-asset ratio: 0.0%.

Executive Compensation Analysis

Executive compensation is not explicitly detailed in the provided data, but given that 100% of reported expenses are administrative, it is likely a significant component of the $170,173 - $185,013 annual 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 The Walter F & Alice Gorham Foundation Inc's IRS 990 filings:

• Zero reported program service expenses (c0%) across all years, raising questions about direct charitable impact.
• Consistent administrative expenses (e.g., $185,013 in 2024) despite fluctuating and often low revenue, leading to asset depletion.
• Significant decline in assets from $2,144,955 in 2014 to $1,412,252 in 2024, indicating unsustainable operations.
• The foundation's primary activity appears to be asset management and administrative overhead rather than active grantmaking or program delivery.

Strengths

The following positive indicators were identified for The Walter F & Alice Gorham Foundation Inc:

• Long operational history with filings dating back to at least 2014.

Frequently Asked Questions about The Walter F & Alice Gorham Foundation Inc

Filing History

IRS 990 filing history for The Walter F & Alice Gorham Foundation Inc showing financial trends over 10 years of public records:

Over 10 years of IRS 990 filings (2012–2024), The Walter F & Alice Gorham Foundation Inc's revenue has declined by 25%, moving from $134K to $101K. Total assets decreased by 39.7% over the same period, from $2.3M to $1.4M. Total functional expenses fell by 2.7%, from $190K to $185K. In its most recent filing year (2024), The Walter F & Alice Gorham Foundation Inc reported a deficit of $84K, with expenses exceeding revenue. The organization holds $1 in liabilities against $1.4M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $1.4M.

Year-by-Year Financial Summary

• 2024: Revenue of $101K, expenses of $185K, and assets of $1.4M (revenue +215.1% year-over-year).
• 2023: Revenue of $32K, expenses of $175K, and assets of $1.5M (revenue -59.8% year-over-year).
• 2022: Revenue of $79K, expenses of $180K, and assets of $1.6M (revenue -51.2% year-over-year).
• 2021: Revenue of $163K, expenses of $170K, and assets of $1.7M (revenue +48.7% year-over-year).
• 2020: Revenue of $109K, expenses of $170K, and assets of $1.7M (revenue +17.0% year-over-year).
• 2016: Revenue of $94K, expenses of $180K, and assets of $2.0M (revenue -31.4% year-over-year).
• 2015: Revenue of $136K, expenses of $181K, and assets of $2.1M (revenue -11.1% year-over-year).
• 2014: Revenue of $153K, expenses of $180K, and assets of $2.1M (revenue +1171.0% year-over-year).
• 2013: Revenue of $12K, expenses of $182K, and assets of $2.2M (revenue -91.0% year-over-year).
• 2012: Revenue of $134K, expenses of $190K, and assets of $2.3M.

View Individual Filing Years

Explore detailed financial data from each IRS 990 filing year for The Walter F & Alice Gorham Foundation Inc:

Data Sources and Methodology

This transparency report for The Walter F & Alice Gorham 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.