True North Foundation
True North Foundation maintains stable finances with zero reported officer compensation over a decade.
EIN: 204877644 · Currie, NC · NTEE: T20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.2M |
| Total Expenses | $382K |
| Program Spending | 90% |
| CEO/Top Officer Pay | $1.5 |
| Net Assets | $1.3M |
| Transparency Score | 92/100 |
Is True North Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
True North Foundation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About True North Foundation
True North Foundation (EIN: 204877644) is a nonprofit organization based in Currie, NC, classified under NTEE code T20. The organization reported total revenue of $1.2M and total assets of $1.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of True North Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
True North Foundation is a mid-size nonprofit that has been operating for 20 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -1.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $521K |
| Total Expenses | $382K |
| Surplus / Deficit | +$139K |
| Total Assets | $1.5M |
| Total Liabilities | $195K |
| Net Assets | $1.3M |
| Operating Margin | 26.7% |
| Debt-to-Asset Ratio | 12.9% |
| Months of Reserves | 47.6 months |
Financial Health Grade: A
In 2023, True North Foundation reported a surplus of $139K with revenue exceeding expenses, holds 47.6 months of operating reserves (strong position), has a debt-to-asset ratio of 12.9% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), True North Foundation's revenue has declined at a compound annual growth rate (CAGR) of -1.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +25.2% | +41.9% | +17.4% |
| 2022 | -9.1% | +19.2% | -7.3% |
| 2021 | -9.0% | -38.9% | +11.4% |
| 2020 | +7.0% | +65.6% | +6.6% |
| 2019 | +33.9% | +43.9% | -25.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2006 |
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 True North Foundation with a Mission Score of 92 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, True North Foundation 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 surplus of $139K, with revenue exceeding expenses.
- Debt-to-asset ratio: 12.9%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers or key employees receive salaries from the organization. This suggests a highly volunteer-driven leadership or that compensation is covered by other means, which is highly efficient for an organization of its size with assets over $1.5 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 True North Foundation's IRS 990 filings:
- Significant increase in liabilities in 2023 without clear explanation in summary data.
Strengths
The following positive indicators were identified for True North Foundation:
- Consistent zero officer compensation, indicating high efficiency.
- Stable asset base over a decade, demonstrating financial resilience.
- Strong program spending implied by low overall expenses relative to revenue and zero executive compensation.
- Positive net assets consistently maintained.
Frequently Asked Questions about True North Foundation
Is True North Foundation a legitimate charity?
True North Foundation (EIN: 204877644) is a registered tax-exempt nonprofit based in North Carolina. Our AI analysis gives it a Mission Score of 92/100. It has 10 years of IRS 990 filings on record. Total revenue: $1.2M. 1 red flag identified. 4 strengths noted. Financial health grade: A.
How does True North Foundation spend its money?
True North Foundation directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to True North Foundation tax-deductible?
True North Foundation is registered as a tax-exempt nonprofit (EIN: 204877644). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the True North Foundation CEO make?
True North Foundation's highest-compensated officer earns $1.5 annually. The organization reported $1.2M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
How does True North Foundation compare to similar nonprofits?
With a transparency score of 92/100 (Excellent), True North Foundation 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 True North Foundation located?
True North Foundation is headquartered in Currie, North Carolina and files with the IRS under EIN 204877644. It is classified under NTEE code T20.
How many years of IRS 990 filings does True North Foundation have?
True North Foundation 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 $1.2M in total revenue.
What caused the significant increase in liabilities from $5,000 to $195,243 in the 2023 fiscal period?
The provided data does not specify the nature of this increase. It would require reviewing the full 990 form for 2023 to understand if it's related to program-specific grants, loans, or other obligations.
How does True North Foundation manage its operations with zero reported officer compensation?
This suggests a highly volunteer-driven model for its leadership, or that any administrative costs associated with leadership are covered by other entities or individuals, allowing the organization to direct more funds to its mission.
What are the specific programs True North Foundation funds or operates, given its NTEE code T20 (Philanthropy, Voluntarism, and Grantmaking Foundations)?
The provided summary data does not detail specific programs. A review of the full 990 forms, particularly Schedule O, would be necessary to understand its grantmaking activities or direct charitable programs.
Filing History
IRS 990 filing history for True North Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), True North Foundation's revenue has declined by 14.4%, moving from $609K to $521K. Total assets decreased by 6.3% over the same period, from $1.6M to $1.5M. Total functional expenses rose by 439.5%, from $71K to $382K. In its most recent filing year (2023), True North Foundation reported a surplus of $139K, with revenue exceeding expenses. The organization holds $195K in liabilities against $1.5M in assets (debt-to-asset ratio: 12.9%), resulting in net assets of $1.3M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $521K | $382K | $1.5M | $195K | — | — |
| 2022 | $416K | $269K | $1.3M | $5K | — | View 990 |
| 2021 | $458K | $226K | $1.4M | $5K | — | View 990 |
| 2020 | $503K | $370K | $1.2M | $5K | — | View 990 |
| 2019 | $470K | $223K | $1.2M | $5K | — | View 990 |
| 2015 | $351K | $155K | $1.6M | $3K | — | View 990 |
| 2014 | $335K | $155K | $1.5M | $3K | — | View 990 |
| 2013 | $273K | $115K | $1.4M | $3K | — | View 990 |
| 2012 | $304K | $80K | $1.5M | $26K | — | View 990 |
| 2011 | $609K | $71K | $1.6M | $26K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $521K, expenses of $382K, and assets of $1.5M (revenue +25.2% year-over-year).
- 2022: Revenue of $416K, expenses of $269K, and assets of $1.3M (revenue -9.1% year-over-year).
- 2021: Revenue of $458K, expenses of $226K, and assets of $1.4M (revenue -9.0% year-over-year).
- 2020: Revenue of $503K, expenses of $370K, and assets of $1.2M (revenue +7.0% year-over-year).
- 2019: Revenue of $470K, expenses of $223K, and assets of $1.2M (revenue +33.9% year-over-year).
- 2015: Revenue of $351K, expenses of $155K, and assets of $1.6M (revenue +4.9% year-over-year).
- 2014: Revenue of $335K, expenses of $155K, and assets of $1.5M (revenue +22.5% year-over-year).
- 2013: Revenue of $273K, expenses of $115K, and assets of $1.4M (revenue -10.1% year-over-year).
- 2012: Revenue of $304K, expenses of $80K, and assets of $1.5M (revenue -50.1% year-over-year).
- 2011: Revenue of $609K, expenses of $71K, and assets of $1.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for True North Foundation:
Data Sources and Methodology
This transparency report for True North Foundation 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.