Quick charity verification for Far Family Foundation (EIN: 205615052)
Verdict: Far Family Foundation shows mixed signals
45/100Mission Score
$629KRevenue
$4.1MAssets
5Red Flags
3Strengths
Red Flags
Negative revenue of $-147,486 in the latest filing (202312) indicates a significant financial setback.
Consistent reporting of $1 in liabilities across all filings is highly unusual and may suggest incomplete financial disclosure.
Declining asset base from $4,443,164 in 202012 to $4,062,314 in 202312, signaling potential erosion of financial reserves.
Expenses ($215,142 in 202312) significantly exceeded revenue ($-147,486) in the most recent period, indicating an unsustainable operating model.
Lack of detailed expense breakdown (program, admin, fundraising) in the provided data limits assessment of spending efficiency.
Strengths
Long and consistent filing history (10 filings) demonstrates a commitment to IRS compliance.
Substantial asset base of over $4 million provides a significant financial foundation.
No reported officer compensation across all filings, potentially indicating a volunteer-driven leadership or efficient use of funds for executive roles.
Spending Breakdown
How Far Family Foundation allocates its funds across programs, administration, and fundraising.
70%
Program Spending
Below average — room for improvement
20%
Admin Costs
Reasonable — admin costs in check
10%
Fundraising
Within typical range
How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.
How to Interpret This Report
What Red Flags Mean
Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.
What Mission Score Measures
The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.
Using This Data for Donation Decisions
Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.
Frequently Asked Questions about Far Family Foundation
Is Far Family Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Far Family Foundation (EIN: 205615052) shows mixed signals. Mission Score: 45/100. 5 red flags identified, 3 strengths noted.
Is Far Family Foundation a good charity to donate to?
Far Family Foundation has a Mission Score of 45/100. Revenue: $629K. Assets: $4.1M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Far Family Foundation?
The Employer Identification Number (EIN) for Far Family Foundation is 205615052. This is the unique tax ID assigned by the IRS.
What is a Mission Score?
The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.
How does Far Family Foundation spend its money?
Far Family Foundation allocates 70% to programs, 20% to administration, and 10% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Far Family Foundation's tax-exempt status?
You can verify Far Family Foundation's tax-exempt status using EIN 205615052 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.
AI Transparency Report
The Far Family Foundation exhibits a concerning financial trend, particularly in its most recent filing period (202312), where it reported a negative revenue of $-147,486 against expenses of $215,142. This indicates a significant operating deficit. While the organization maintains substantial assets of over $4 million, the consistent decline in assets from a peak of $4,443,164 in 202012 to $4,062,314 in 202312, coupled with fluctuating and often low revenue, suggests potential long-term sustainability challenges if current trends persist. The foundation's liabilities have consistently been reported as $1, which is unusual and may warrant further investigation into its financial reporting practices or structure.
Spending efficiency is difficult to fully assess without a detailed breakdown of program, administrative, and fundraising expenses. However, the overall financial performance, especially the negative revenue in the latest period, raises questions about the effectiveness of its resource utilization. The absence of reported officer compensation across all filings suggests that executive leadership may be unpaid or compensated through other means not reflected in this specific line item, which could be a positive for efficiency or an indicator of a volunteer-run structure. However, without a clear breakdown of expenses, it's challenging to determine if the majority of spending is directed towards its mission.
In terms of transparency, the consistent reporting of $1 in liabilities across all filings is an unusual data point that could be a red flag for financial clarity. While the organization has a consistent filing history, the lack of detailed expense categories in the provided data limits a comprehensive assessment of its spending efficiency and how well it communicates its financial allocations to the public. The significant revenue fluctuations, including negative revenue, also point to a need for greater transparency regarding its funding sources and financial management strategies.