AI Transparency Report
The Avangrid Foundation Inc. demonstrates a generally stable financial position with consistent revenue streams over the past decade, averaging around $2.5 million annually. In the most recent filing (202312), the organization reported revenues of $3,205,136 against expenses of $2,837,341, indicating a surplus for the year. Its assets have fluctuated but remain robust, standing at $5,760,467 in 2023, which provides a solid financial cushion. The organization consistently reports 0% officer compensation, which is a strong indicator of efficient use of funds and a commitment to directing resources towards its mission rather than executive salaries. This practice also enhances transparency and trust, as it suggests that leadership is either volunteer-based or compensated through other means not classified as officer compensation on the 990, which would warrant further investigation for complete understanding.
While the 990 data provided does not detail the specific breakdown of program, administrative, and fundraising expenses, the consistent surplus in recent years (e.g., $367,795 in 2023 and $812,480 in 2022) suggests effective financial management. The absence of officer compensation is a significant positive for spending efficiency. However, without a detailed functional expense breakdown, it's challenging to fully assess the proportion of funds directly allocated to programs versus overhead. The organization's consistent filing of IRS Form 990s over a long period (10 filings provided) indicates a commitment to regulatory compliance and transparency.
Overall, Avangrid Foundation Inc. appears to be a financially sound organization with a commendable approach to executive compensation. Its consistent revenue generation and asset base provide stability, and the lack of officer compensation is a notable strength in terms of financial efficiency and transparency. Further detailed expense breakdowns would provide even greater insight into its spending efficiency.