William & Mary Greve Foundation Inc
William & Mary Greve Foundation's assets have declined by over $9 million since 2021, with expenses consistently exceeding revenue.
EIN: 136020724 · Norfolk, CT · NTEE: U99E · Updated: 2026-03-28
Is William & Mary Greve 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 & Mary Greve Foundation Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About William & Mary Greve Foundation Inc
William & Mary Greve Foundation Inc (EIN: 136020724) is a nonprofit organization based in Norfolk, CT, classified under NTEE code U99E. The organization reported total revenue of $7.9M and total assets of $15.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of William & Mary Greve Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
William & Mary Greve Foundation Inc is a mid-size nonprofit that has been operating for 61 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 5.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $3.4M |
| Total Expenses | $4.0M |
| Surplus / Deficit | $-567,607 |
| Total Assets | $16.9M |
| Total Liabilities | $160K |
| Net Assets | $16.8M |
| Operating Margin | -16.6% |
| Debt-to-Asset Ratio | 0.9% |
| Months of Reserves | 51.0 months |
Financial Health Grade: B
In 2023, William & Mary Greve Foundation Inc reported a deficit of $568K with expenses exceeding revenue, holds 51.0 months of operating reserves (strong position), has a debt-to-asset ratio of 0.9% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), William & Mary Greve Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 5.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +888.8% | -7.9% | -1.4% |
| 2022 | -92.2% | +5.9% | -35.9% |
| 2021 | +272.0% | +66.9% | +4.8% |
| 2020 | -21.1% | +8.0% | +6.1% |
| 2019 | -21.6% | -12.0% | -2.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1965 |
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 & Mary Greve Foundation Inc with a Mission Score of 75 out of 100 (Good). 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 & Mary Greve 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 deficit of $568K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.9%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no salaries are paid to officers, which is a strong positive for minimizing executive 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 & Mary Greve Foundation Inc's IRS 990 filings:
- Consistent decline in total assets from $26.8M in 2021 to $16.9M in 2023, indicating a significant draw-down or investment underperformance.
- Expenses consistently exceeding revenue in most reported periods, which, while common for foundations, warrants scrutiny regarding long-term sustainability if not managed by endowment growth.
Strengths
The following positive indicators were identified for William & Mary Greve Foundation Inc:
- 0% officer compensation reported across all filings, indicating highly efficient executive overhead.
- Low liabilities relative to assets, suggesting good financial management and minimal debt burden.
Frequently Asked Questions about William & Mary Greve Foundation Inc
Is William & Mary Greve Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, William & Mary Greve Foundation Inc (EIN: 136020724) some concerns. Mission Score: 75/100. 2 red flags identified, 2 strengths noted.
How does William & Mary Greve Foundation Inc spend its money?
William & Mary Greve Foundation Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to William & Mary Greve Foundation Inc tax-deductible?
William & Mary Greve Foundation Inc is registered as a tax-exempt nonprofit (EIN: 136020724). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What is the cause of the significant decline in assets from $26.8 million in 2021 to $16.9 million in 2023?
This decline could be due to substantial grant disbursements, investment losses, or a combination of factors. Further investigation into their investment performance and grantmaking activities would be necessary.
Given that expenses frequently exceed revenue, how does the foundation sustain its operations and grant-making?
As a private foundation, it likely operates primarily by disbursing funds from its endowment. The excess of expenses over revenue suggests it is drawing down its principal or relying on investment returns not fully captured in the 'revenue' line item for some periods.
What are the specific program areas or types of grants the foundation supports?
The NTEE code U99E (Unknown, Unclassified) does not provide specific insight into its program areas. A review of its Form 990, Part XV (Grants and Contributions Paid) would be needed to identify its beneficiaries and mission focus.
Filing History
IRS 990 filing history for William & Mary Greve Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), William & Mary Greve Foundation Inc's revenue has grown by 82.6%, moving from $1.9M to $3.4M. Total assets decreased by 31.9% over the same period, from $24.9M to $16.9M. Total functional expenses rose by 33.7%, from $3.0M to $4.0M. In its most recent filing year (2023), William & Mary Greve Foundation Inc reported a deficit of $568K, with expenses exceeding revenue. The organization holds $160K in liabilities against $16.9M in assets (debt-to-asset ratio: 0.9%), resulting in net assets of $16.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $3.4M | $4.0M | $16.9M | $160K | — | View 990 |
| 2022 | $346K | $4.3M | $17.2M | $159K | — | View 990 |
| 2021 | $4.4M | $4.1M | $26.8M | $257K | — | View 990 |
| 2020 | $1.2M | $2.4M | $25.6M | $228K | — | — |
| 2019 | $1.5M | $2.3M | $24.1M | $234K | — | View 990 |
| 2015 | $1.9M | $2.6M | $24.8M | $204K | — | View 990 |
| 2014 | $1.7M | $2.8M | $26.3M | $190K | — | View 990 |
| 2013 | $2.0M | $2.7M | $26.8M | $184K | — | View 990 |
| 2012 | $1.5M | $2.8M | $24.9M | $138K | — | View 990 |
| 2011 | $1.9M | $3.0M | $24.9M | $107K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $3.4M, expenses of $4.0M, and assets of $16.9M (revenue +888.8% year-over-year).
- 2022: Revenue of $346K, expenses of $4.3M, and assets of $17.2M (revenue -92.2% year-over-year).
- 2021: Revenue of $4.4M, expenses of $4.1M, and assets of $26.8M (revenue +272.0% year-over-year).
- 2020: Revenue of $1.2M, expenses of $2.4M, and assets of $25.6M (revenue -21.1% year-over-year).
- 2019: Revenue of $1.5M, expenses of $2.3M, and assets of $24.1M (revenue -21.6% year-over-year).
- 2015: Revenue of $1.9M, expenses of $2.6M, and assets of $24.8M (revenue +16.0% year-over-year).
- 2014: Revenue of $1.7M, expenses of $2.8M, and assets of $26.3M (revenue -15.8% year-over-year).
- 2013: Revenue of $2.0M, expenses of $2.7M, and assets of $26.8M (revenue +28.0% year-over-year).
- 2012: Revenue of $1.5M, expenses of $2.8M, and assets of $24.9M (revenue -17.4% year-over-year).
- 2011: Revenue of $1.9M, expenses of $3.0M, and assets of $24.9M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for William & Mary Greve Foundation Inc:
Data Sources and Methodology
This transparency report for William & Mary Greve 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.