William And Karin Banks Foundation Inc
William And Karin Banks Foundation Inc maintains strong asset growth and zero executive compensation.
EIN: 10758677 · Bethesda, MD · NTEE: T22 · Updated: 2026-03-27
| Metric | Value |
|---|---|
| Total Revenue | $4.4M |
| Total Expenses | $367K |
| Program Spending | 90% |
| CEO/Top Officer Pay | $6 |
| Net Assets | $6.5M |
| Transparency Score | 95/100 |
Is William And Karin Banks Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
William And Karin Banks Foundation Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About William And Karin Banks Foundation Inc
William And Karin Banks Foundation Inc (EIN: 10758677) is a nonprofit organization based in Bethesda, MD, classified under NTEE code T22. The organization reported total revenue of $4.4M and total assets of $6.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of William And Karin Banks Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
William And Karin Banks Foundation Inc is a mid-size nonprofit that has been operating for 23 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 2.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $609K |
| Total Expenses | $367K |
| Surplus / Deficit | +$242K |
| Total Assets | $6.5M |
| Total Liabilities | $1 |
| Net Assets | $6.5M |
| Operating Margin | 39.8% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 212.7 months |
Financial Health Grade: A
In 2023, William And Karin Banks Foundation Inc reported a surplus of $242K with revenue exceeding expenses, holds 212.7 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 (2011–2023), William And Karin Banks Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 2.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +88.6% | -13.2% | +3.9% |
| 2022 | -10.2% | +24.4% | -1.6% |
| 2020 | -112.5% | +1.2% | -5.8% |
| 2019 | -61.5% | +0.6% | +0.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2003 |
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 William And Karin Banks Foundation Inc with a Mission Score of 95 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, William And Karin Banks Foundation Inc 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 $242K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that no salaries are paid to officers. This is highly unusual for an organization with assets exceeding $6 million and suggests a volunteer-led or very lean operational model.
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 William And Karin Banks Foundation Inc's IRS 990 filings:
- Negative revenue reported in 2020 (-$32,984), which could indicate investment losses or significant returns/allowances that year.
Strengths
The following positive indicators were identified for William And Karin Banks Foundation Inc:
- Consistent asset growth from $5.9M in 2011 to $6.4M in 2023.
- 0% officer compensation reported across all filings, indicating high efficiency.
- Minimal liabilities ($0 or $1) across all reported periods, showing strong financial stability.
- Expenses consistently lower than revenue in most years, demonstrating sound financial management.
- Long and consistent filing history (10 filings), providing good transparency.
Frequently Asked Questions about William And Karin Banks Foundation Inc
Is William And Karin Banks Foundation Inc a legitimate charity?
William And Karin Banks Foundation Inc (EIN: 10758677) is a registered tax-exempt nonprofit based in Maryland. Our AI analysis gives it a Mission Score of 95/100. It has 10 years of IRS 990 filings on record. Total revenue: $4.4M. 1 red flag identified. 5 strengths noted. Financial health grade: A.
How does William And Karin Banks Foundation Inc spend its money?
William And Karin Banks Foundation Inc directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to William And Karin Banks Foundation Inc tax-deductible?
William And Karin Banks Foundation Inc is registered as a tax-exempt nonprofit (EIN: 10758677). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the William And Karin Banks Foundation Inc CEO make?
William And Karin Banks Foundation Inc's highest-compensated officer earns $6 annually. The organization reported $4.4M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
How does William And Karin Banks Foundation Inc compare to similar nonprofits?
With a transparency score of 95/100 (Excellent), William And Karin Banks Foundation Inc is above average for NTEE category T22 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is William And Karin Banks Foundation Inc located?
William And Karin Banks Foundation Inc is headquartered in Bethesda, Maryland and files with the IRS under EIN 10758677. It is classified under NTEE code T22.
How many years of IRS 990 filings does William And Karin Banks Foundation Inc have?
William And Karin Banks 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 $4.4M in total revenue.
Is William And Karin Banks Foundation Inc a good charity?
Based on the provided data, the foundation appears to be a very good charity. It demonstrates strong financial health, consistent asset growth, and exceptionally low administrative overhead with 0% officer compensation.
How does the foundation manage to operate with 0% officer compensation?
The data indicates that no compensation is paid to officers. This suggests that the foundation is either entirely volunteer-run at the executive level or that executive functions are absorbed by other roles or entities, which is a highly efficient model for a grant-making foundation.
What is the long-term financial trend of the foundation?
The foundation shows a strong long-term financial trend with assets growing from $5,941,502 in 2011 to $6,497,749 in 2023, and expenses consistently below revenue in most years, indicating sustainable growth and prudent management.
Filing History
IRS 990 filing history for William And Karin Banks Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), William And Karin Banks Foundation Inc's revenue has grown by 41.3%, moving from $431K to $609K. Total assets increased by 9.4% over the same period, from $5.9M to $6.5M. Total functional expenses rose by 20.6%, from $304K to $367K. In its most recent filing year (2023), William And Karin Banks Foundation Inc reported a surplus of $242K, with revenue exceeding expenses. The organization holds $1 in liabilities against $6.5M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $6.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $609K | $367K | $6.5M | $1 | — | View 990 |
| 2022 | $323K | $422K | $6.3M | $1 | — | View 990 |
| 2021 | $359K | $340K | $6.4M | $1 | — | View 990 |
| 2020 | $-32,984 | $359K | $6.3M | $1 | — | — |
| 2019 | $264K | $355K | $6.7M | $0 | — | View 990 |
| 2015 | $685K | $352K | $6.7M | $0 | — | View 990 |
| 2014 | $612K | $350K | $6.4M | $0 | — | View 990 |
| 2013 | $394K | $312K | $6.1M | $0 | — | View 990 |
| 2012 | $387K | $311K | $6.0M | $0 | — | View 990 |
| 2011 | $431K | $304K | $5.9M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $609K, expenses of $367K, and assets of $6.5M (revenue +88.6% year-over-year).
- 2022: Revenue of $323K, expenses of $422K, and assets of $6.3M (revenue -10.2% year-over-year).
- 2021: Revenue of $359K, expenses of $340K, and assets of $6.4M.
- 2020: Revenue of $-32,984, expenses of $359K, and assets of $6.3M (revenue -112.5% year-over-year).
- 2019: Revenue of $264K, expenses of $355K, and assets of $6.7M (revenue -61.5% year-over-year).
- 2015: Revenue of $685K, expenses of $352K, and assets of $6.7M (revenue +11.9% year-over-year).
- 2014: Revenue of $612K, expenses of $350K, and assets of $6.4M (revenue +55.2% year-over-year).
- 2013: Revenue of $394K, expenses of $312K, and assets of $6.1M (revenue +1.8% year-over-year).
- 2012: Revenue of $387K, expenses of $311K, and assets of $6.0M (revenue -10.0% year-over-year).
- 2011: Revenue of $431K, expenses of $304K, and assets of $5.9M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for William And Karin Banks Foundation Inc:
Data Sources and Methodology
This transparency report for William And Karin Banks 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.