The Walter F & Alice Gorham Foundation Inc
The Walter F & Alice Gorham Foundation: Declining Assets, Consistent Expenses, and Minimal Revenue
EIN: 222984225 · Whippany, NJ · Updated: 2026-04-04
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 →
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.
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%.
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
Is The Walter F & Alice Gorham Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, The Walter F & Alice Gorham Foundation Inc (EIN: 222984225) significant concerns. Mission Score: 45/100. 4 red flags identified, 1 strength noted.
How does The Walter F & Alice Gorham Foundation Inc spend its money?
Detailed spending breakdown data is not yet available for The Walter F & Alice Gorham Foundation Inc. Check back for updated IRS 990 analysis.
Are donations to The Walter F & Alice Gorham Foundation Inc tax-deductible?
The Walter F & Alice Gorham Foundation Inc is registered as a tax-exempt nonprofit (EIN: 222984225). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What does The Walter F & Alice Gorham Foundation Inc do?
The Walter F & Alice Gorham Foundation Inc is a nonprofit organization in the Unknown sector, located in Whippany, New Jersey. It is classified under NTEE code Unknown.
How much revenue does The Walter F & Alice Gorham Foundation Inc have?
The Walter F & Alice Gorham Foundation Inc reported total revenue of $841,731. Based on 10 IRS 990 filings on record.
What are The Walter F & Alice Gorham Foundation Inc's total assets?
The Walter F & Alice Gorham Foundation Inc holds total assets of $1,429,897 as reported in IRS 990 filings.
Where is The Walter F & Alice Gorham Foundation Inc located?
The Walter F & Alice Gorham Foundation Inc is based in Whippany, New Jersey.
What is The Walter F & Alice Gorham Foundation Inc's EIN?
The Walter F & Alice Gorham Foundation Inc's Employer Identification Number (EIN) is 222984225. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is The Walter F & Alice Gorham Foundation Inc?
The Walter F & Alice Gorham Foundation Inc is classified under NTEE code Unknown (Unknown).
Is The Walter F & Alice Gorham Foundation Inc a registered 501(c)(3)?
The Walter F & Alice Gorham Foundation Inc appears in IRS records (EIN: 222984225). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does The Walter F & Alice Gorham Foundation Inc file IRS Form 990?
Yes, The Walter F & Alice Gorham Foundation Inc has 10 IRS Form 990 filings on record. The most recent covers tax period 202406.
What was The Walter F & Alice Gorham Foundation Inc's revenue in 2024?
In the 202406 filing period, The Walter F & Alice Gorham Foundation Inc reported total revenue of $100,649, total expenses of $185,013, and net assets of $1,412,252.
Is The Walter F & Alice Gorham Foundation Inc's revenue growing or declining?
The Walter F & Alice Gorham Foundation Inc's revenue is growing. Revenue went from $31,945 (202306) to $100,649 (202406), a +215.1% change. Based on 10 filings on record.
What is The Walter F & Alice Gorham Foundation Inc's most recent 990 filing?
The most recent IRS Form 990 filing for The Walter F & Alice Gorham Foundation Inc covers tax period 202406. It shows revenue of $100,649, expenses of $185,013, total assets of $1,412,252, and liabilities of $1.
Is The Walter F & Alice Gorham Foundation Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, The Walter F & Alice Gorham Foundation Inc shows mixed signals. Mission Score: 45/100 (Fair). 4 red flags identified. 1 strength noted.
What are the red flags for The Walter F & Alice Gorham Foundation Inc?
The following concerns were identified: 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.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are The Walter F & Alice Gorham Foundation Inc's strengths?
Positive indicators for The Walter F & Alice Gorham Foundation Inc include: Long operational history with filings dating back to at least 2014.. These findings are derived from AI analysis of the organization's financial filings.
How does The Walter F & Alice Gorham Foundation Inc compensate executives?
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 disclosure of officer, director, and key employee pay.
Given the consistent reporting of 0% program service expenses, what is the actual charitable purpose and activity of The Walter F & Alice Gorham Foundation?
Based on the provided data, the foundation does not appear to engage in direct program services or grantmaking. Its primary financial activity is the management of its assets and covering administrative costs, which suggests it may function more as a private family foundation with a focus on asset preservation rather than active philanthropy, or its charitable activities are not captured in the 'program service expenses' line item.
How does the foundation sustain its operations with consistently low revenue and high administrative expenses, leading to a significant decline in assets?
The foundation sustains its operations by drawing down its assets. For example, in 2023, with revenue of only $31,945 and expenses of $174,793, the deficit was covered by its asset base. This trend is evident in the asset decline from $2,144,955 in 2014 to $1,412,252 in 2024, indicating an unsustainable operational model without a significant increase in revenue or reduction in administrative costs.
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 | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2024 | $101K | $185K | $1.4M | $1 | — | — |
| 2023 | $32K | $175K | $1.5M | $1 | — | View 990 |
| 2022 | $79K | $180K | $1.6M | $1 | — | View 990 |
| 2021 | $163K | $170K | $1.7M | $1 | — | View 990 |
| 2020 | $109K | $170K | $1.7M | $1 | — | View 990 |
| 2016 | $94K | $180K | $2.0M | $1 | — | View 990 |
| 2015 | $136K | $181K | $2.1M | $1 | — | View 990 |
| 2014 | $153K | $180K | $2.1M | $1 | — | View 990 |
| 2013 | $12K | $182K | $2.2M | $1 | — | View 990 |
| 2012 | $134K | $190K | $2.3M | $1 | — | View 990 |
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.
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.