William E Cross Foundation Inc
William E Cross Foundation faces significant asset decline and consistent deficit spending in recent years.
EIN: 201220528 · Frederick, MD · NTEE: T22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.5M |
| Total Expenses | $1.5M |
| Program Spending | 80% |
| Net Assets | $7.6M |
| Transparency Score | 55/100 |
Is William E Cross 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 E Cross Foundation Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About William E Cross Foundation Inc
William E Cross Foundation Inc (EIN: 201220528) is a nonprofit organization based in Frederick, MD, classified under NTEE code T22. The organization reported total revenue of $1.5M and total assets of $7.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of William E Cross Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
William E Cross Foundation Inc is a mid-size nonprofit that has been operating for 22 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -7.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $339K |
| Total Expenses | $1.5M |
| Surplus / Deficit | $-1,164,629 |
| Total Assets | $7.6M |
| Total Liabilities | $1 |
| Net Assets | $7.6M |
| Operating Margin | -343.3% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 60.5 months |
Financial Health Grade: B
In 2023, William E Cross Foundation Inc reported a deficit of $1.2M with expenses exceeding revenue, holds 60.5 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 E Cross Foundation Inc's revenue has declined at a compound annual growth rate (CAGR) of -7.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -57.4% | -79.4% | -13.3% |
| 2022 | -64.7% | +336.9% | -44.6% |
| 2021 | +104.4% | +47.6% | +3.8% |
| 2020 | +1.0% | -0.9% | -0.2% |
| 2019 | -48.2% | +4.8% | -0.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2004 |
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 E Cross Foundation Inc 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, William E Cross Foundation Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% 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 deficit of $1.2M, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, suggesting that executive leadership is either unpaid, compensated through other means not reflected as officer compensation, or that the foundation operates with a very lean, volunteer-driven executive structure, which is positive for minimizing administrative overhead.
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 E Cross Foundation Inc's IRS 990 filings:
- Significant and rapid decline in assets from $15.76 million in 2021 to $7.57 million in 2023.
- Consistent deficit spending in recent years, notably in 2022 ($7.29M expenses vs. $796K revenue) and 2023 ($1.50M expenses vs. $339K revenue).
- Lack of detailed expense breakdown (program, admin, fundraising) in the provided data, hindering efficiency analysis.
Strengths
The following positive indicators were identified for William E Cross Foundation Inc:
- Consistently reports 0% officer compensation, indicating low executive overhead.
- Maintains extremely low liabilities across all reported periods ($0-$1,350), suggesting strong debt management.
- Long history of IRS 990 filings (10 filings), indicating consistent compliance with reporting requirements.
Frequently Asked Questions about William E Cross Foundation Inc
Is William E Cross Foundation Inc a legitimate charity?
William E Cross Foundation Inc (EIN: 201220528) is a registered tax-exempt nonprofit based in Maryland. Our AI analysis gives it a Mission Score of 55/100. It has 10 years of IRS 990 filings on record. Total revenue: $1.5M. 3 red flags identified. 3 strengths noted. Financial health grade: B.
How does William E Cross Foundation Inc spend its money?
William E Cross Foundation Inc directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to William E Cross Foundation Inc tax-deductible?
William E Cross Foundation Inc is registered as a tax-exempt nonprofit (EIN: 201220528). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of William E Cross Foundation Inc's spending goes to programs?
William E Cross Foundation Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does William E Cross Foundation Inc compare to similar nonprofits?
With a transparency score of 55/100 (Fair), William E Cross Foundation Inc is near 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 E Cross Foundation Inc located?
William E Cross Foundation Inc is headquartered in Frederick, Maryland and files with the IRS under EIN 201220528. It is classified under NTEE code T22.
How many years of IRS 990 filings does William E Cross Foundation Inc have?
William E Cross 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 $1.5M in total revenue.
What caused the substantial decrease in assets from $15.76 million in 2021 to $7.57 million in 2023?
The provided data shows a significant drop in assets, coinciding with periods of high expenses relative to revenue, particularly in 2022 where expenses were $7.29 million against $796,148 in revenue. This suggests substantial spending from the asset base.
How does the foundation plan to address the recurring deficit spending observed in recent years (e.g., 2022 and 2023)?
In 2022, expenses ($7.29M) vastly exceeded revenue ($796K), and in 2023, expenses ($1.50M) were significantly higher than revenue ($339K). This pattern is unsustainable and requires a clear strategy for increased revenue or reduced expenditures.
What is the detailed breakdown of program, administrative, and fundraising expenses for the most recent fiscal year?
The provided summary data does not offer a detailed breakdown of expenses, making it difficult to assess the organization's spending efficiency across different categories.
Filing History
IRS 990 filing history for William E Cross Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), William E Cross Foundation Inc's revenue has declined by 58.4%, moving from $816K to $339K. Total assets decreased by 44.8% over the same period, from $13.7M to $7.6M. Total functional expenses rose by 195.9%, from $508K to $1.5M. In its most recent filing year (2023), William E Cross Foundation Inc reported a deficit of $1.2M, with expenses exceeding revenue. The organization holds $1 in liabilities against $7.6M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $7.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $339K | $1.5M | $7.6M | $1 | — | View 990 |
| 2022 | $796K | $7.3M | $8.7M | $1 | — | View 990 |
| 2021 | $2.3M | $1.7M | $15.8M | $1 | — | View 990 |
| 2020 | $1.1M | $1.1M | $15.2M | $1 | — | View 990 |
| 2019 | $1.1M | $1.1M | $15.2M | $0 | — | View 990 |
| 2015 | $2.1M | $1.1M | $15.3M | $1K | — | View 990 |
| 2014 | $2.0M | $961K | $14.3M | $1K | — | View 990 |
| 2013 | $695K | $878K | $13.3M | $1K | — | View 990 |
| 2012 | $489K | $758K | $13.5M | $1K | — | View 990 |
| 2011 | $816K | $508K | $13.7M | $1K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $339K, expenses of $1.5M, and assets of $7.6M (revenue -57.4% year-over-year).
- 2022: Revenue of $796K, expenses of $7.3M, and assets of $8.7M (revenue -64.7% year-over-year).
- 2021: Revenue of $2.3M, expenses of $1.7M, and assets of $15.8M (revenue +104.4% year-over-year).
- 2020: Revenue of $1.1M, expenses of $1.1M, and assets of $15.2M (revenue +1.0% year-over-year).
- 2019: Revenue of $1.1M, expenses of $1.1M, and assets of $15.2M (revenue -48.2% year-over-year).
- 2015: Revenue of $2.1M, expenses of $1.1M, and assets of $15.3M (revenue +5.8% year-over-year).
- 2014: Revenue of $2.0M, expenses of $961K, and assets of $14.3M (revenue +186.5% year-over-year).
- 2013: Revenue of $695K, expenses of $878K, and assets of $13.3M (revenue +42.0% year-over-year).
- 2012: Revenue of $489K, expenses of $758K, and assets of $13.5M (revenue -40.1% year-over-year).
- 2011: Revenue of $816K, expenses of $508K, and assets of $13.7M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for William E Cross Foundation Inc:
Data Sources and Methodology
This transparency report for William E Cross 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.