Turnip Top Foundation
Turnip Top Foundation faces recurring deficits and declining assets despite substantial reserves.
EIN: 201510559 · Santa Fe, NM · NTEE: T20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $544K |
| Total Expenses | $207K |
| Program Spending | 60% |
| Net Assets | $1.6M |
| Transparency Score | 55/100 |
Is Turnip Top Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Turnip Top Foundation directs 60% of its spending to programs. This falls below the 65% benchmark. Donors may want to investigate further.
About Turnip Top Foundation
Turnip Top Foundation (EIN: 201510559) is a nonprofit organization based in Santa Fe, NM, classified under NTEE code T20. The organization reported total revenue of $544K and total assets of $1.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Turnip Top Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Turnip Top Foundation is a small nonprofit that has been operating for 21 years, with 11 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of -2.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $61K |
| Total Expenses | $207K |
| Surplus / Deficit | $-145,174 |
| Total Assets | $1.6M |
| Total Liabilities | $1 |
| Net Assets | $1.6M |
| Operating Margin | -236.1% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 93.6 months |
Financial Health Grade: B
In 2023, Turnip Top Foundation reported a deficit of $145K with expenses exceeding revenue, holds 93.6 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 11 years of filings (2010–2023), Turnip Top Foundation's revenue has declined at a compound annual growth rate (CAGR) of -2.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | -111.3% | +4.9% | -11.3% |
| 2021 | -64.8% | +42.8% | +5.4% |
| 2020 | +11609.6% | -10.4% | +56.0% |
| 2019 | -95.2% | +10.2% | -12.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2005 |
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 Turnip Top Foundation with a Mission Score of 55 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: 30%
- programs: 60%
- fundraising: 10%
According to IRS 990 filings, Turnip Top Foundation allocates its expenses as follows: admin: 30%, programs: 60%, fundraising: 10%. Approximately 60% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $145K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all filings, suggesting either a fully volunteer executive team or compensation levels below IRS reporting thresholds. This indicates a potential strength in minimizing overhead for leadership, but also limits insight into executive remuneration practices.
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 Turnip Top Foundation's IRS 990 filings:
- Recurring significant deficits: In 2023, expenses ($206,661) were more than three times revenue ($61,487), and in 2022, revenue was negative ($-31,832) while expenses were $187,655.
- Declining asset base: Assets have decreased from $1,980,345 in 2021 to $1,612,218 in 2023, indicating the organization is spending more than it earns.
- Highly volatile revenue: Revenue has fluctuated wildly, from $799,411 in 2020 to negative $31,832 in 2022, making financial planning challenging.
- Lack of detailed functional expense breakdown: The provided data does not allow for a precise calculation of program, administrative, and fundraising spending ratios, limiting transparency on efficiency.
Strengths
The following positive indicators were identified for Turnip Top Foundation:
- Substantial asset base: Despite recent declines, the foundation holds over $1.5 million in assets, providing a buffer against financial instability.
- Extremely low liabilities: Consistently reporting $1 in liabilities across all filings indicates a very strong balance sheet with minimal debt.
- No reported officer compensation: The 0% officer compensation suggests efficient use of funds at the executive level or a volunteer-led structure.
- Consistent IRS 990 filing history: 11 filings demonstrate a commitment to regulatory compliance and transparency.
Frequently Asked Questions about Turnip Top Foundation
Is Turnip Top Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Turnip Top Foundation (EIN: 201510559) some concerns. Mission Score: 55/100. 4 red flags identified, 4 strengths noted.
How does Turnip Top Foundation spend its money?
Turnip Top Foundation directs 60% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Turnip Top Foundation tax-deductible?
Turnip Top Foundation is registered as a tax-exempt nonprofit (EIN: 201510559). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Turnip Top Foundation's spending goes to programs?
Turnip Top Foundation directs 60% to programs, 10% to fundraising. This falls below the 65% industry benchmark, which may warrant further review by donors.
How does Turnip Top Foundation compare to similar nonprofits?
With a transparency score of 55/100 (Fair), Turnip Top Foundation is near average for NTEE category T20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Turnip Top Foundation located?
Turnip Top Foundation is headquartered in Santa Fe, New Mexico and files with the IRS under EIN 201510559. It is classified under NTEE code T20.
How many years of IRS 990 filings does Turnip Top Foundation have?
Turnip Top Foundation has 11 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 $544K in total revenue.
Is Turnip Top Foundation a good charity?
The foundation's financial health shows volatility, with recent years (2022, 2023) experiencing significant deficits where expenses far exceeded revenue. While it holds substantial assets ($1,612,218 in 2023), the trend of declining assets and inconsistent revenue raises concerns about long-term sustainability. The lack of reported officer compensation is a positive for efficiency, but a detailed breakdown of program vs. administrative spending is needed for a full assessment of 'goodness'.
Why are assets declining?
Assets have declined from a peak of $1,980,345 in 2021 to $1,612,218 in 2023. This decline is primarily due to the foundation's expenses consistently exceeding its revenue in recent periods, such as in 2023 (revenue $61,487, expenses $206,661) and 2022 (negative revenue $-31,832, expenses $187,655), forcing the organization to draw down on its reserves to cover operational costs.
What caused the negative revenue in 2022?
The filing for Period 202212 shows a reported revenue of $-31,832. This could be due to significant returns of contributions, adjustments for previously recognized revenue that did not materialize, or accounting corrections. Without further detail from the full 990 form, the exact cause cannot be definitively determined, but it represents a substantial financial setback for that year.
How does the organization manage its liabilities?
The Turnip Top Foundation consistently reports $1 in liabilities across all available filings. This indicates an extremely low debt burden and suggests very strong financial management in terms of avoiding significant financial obligations to external parties.
Filing History
IRS 990 filing history for Turnip Top Foundation showing financial trends over 11 years of public records:
Over 11 years of IRS 990 filings (2010–2023), Turnip Top Foundation's revenue has declined by 23.6%, moving from $81K to $61K. Total assets increased by 22.7% over the same period, from $1.3M to $1.6M. Total functional expenses rose by 72.7%, from $120K to $207K. In its most recent filing year (2023), Turnip Top Foundation reported a deficit of $145K, with expenses exceeding revenue. The organization holds $1 in liabilities against $1.6M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $1.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $61K | $207K | $1.6M | $1 | — | — |
| 2022 | $-31,832 | $188K | $1.8M | $1 | — | View 990 |
| 2021 | $281K | $179K | $2.0M | $1 | — | View 990 |
| 2020 | $799K | $125K | $1.9M | $1 | — | — |
| 2019 | $7K | $140K | $1.2M | $1 | — | View 990 |
| 2015 | $142K | $127K | $1.4M | $1 | — | View 990 |
| 2014 | $211K | $103K | $1.4M | $1 | — | View 990 |
| 2013 | $88K | $100K | $1.3M | $1 | — | View 990 |
| 2012 | $134K | $87K | $1.3M | $1 | — | View 990 |
| 2011 | $23K | $115K | $1.2M | $1 | — | View 990 |
| 2010 | $81K | $120K | $1.3M | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $61K, expenses of $207K, and assets of $1.6M.
- 2022: Revenue of $-31,832, expenses of $188K, and assets of $1.8M (revenue -111.3% year-over-year).
- 2021: Revenue of $281K, expenses of $179K, and assets of $2.0M (revenue -64.8% year-over-year).
- 2020: Revenue of $799K, expenses of $125K, and assets of $1.9M (revenue +11609.6% year-over-year).
- 2019: Revenue of $7K, expenses of $140K, and assets of $1.2M (revenue -95.2% year-over-year).
- 2015: Revenue of $142K, expenses of $127K, and assets of $1.4M (revenue -32.6% year-over-year).
- 2014: Revenue of $211K, expenses of $103K, and assets of $1.4M (revenue +140.3% year-over-year).
- 2013: Revenue of $88K, expenses of $100K, and assets of $1.3M (revenue -34.8% year-over-year).
- 2012: Revenue of $134K, expenses of $87K, and assets of $1.3M (revenue +484.8% year-over-year).
- 2011: Revenue of $23K, expenses of $115K, and assets of $1.2M (revenue -71.4% year-over-year).
- 2010: Revenue of $81K, expenses of $120K, and assets of $1.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Turnip Top Foundation:
Data Sources and Methodology
This transparency report for Turnip Top 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.