Is Faye And Michael Richardson Charitable Richardson J Michael Tte Legit?
Quick charity verification for Faye And Michael Richardson Charitable Richardson J Michael Tte (EIN: 137044993)
Verdict: Faye And Michael Richardson Charitable Richardson J Michael Tte appears trustworthy
70/100Mission Score
$0Revenue
$0Assets
2Red Flags
3Strengths
Red Flags
Consistent negative or near-zero revenue, indicating no public support or significant investment losses in some years.
NTEE Code is unknown, which limits understanding of its specific charitable focus without further investigation.
Strengths
Substantial and stable asset base, ranging from $1.99 million to $2.83 million, providing long-term financial stability.
Zero officer compensation, indicating that leadership serves on a voluntary basis, which can maximize funds for charitable purposes.
Low administrative overhead, as implied by the nature of a private foundation primarily distributing grants.
AI Transparency Report
The Faye And Michael Richardson Charitable Richardson J Michael Tte appears to be a private foundation, given its consistent asset base and lack of public revenue. Over the past five years, the organization has consistently reported negative or very low revenue, with the latest filing showing $0 revenue. Despite this, it has maintained a significant asset base, ranging from $1.99 million in 2016 to $2.83 million in 2012. Expenses have fluctuated but remained substantial, peaking at $233,686 in 2016. The organization's financial health is stable due to its substantial assets, but its operational model, characterized by minimal or negative revenue and consistent expenses, suggests it primarily functions by distributing from its endowment rather than actively fundraising or generating program service revenue. The consistent reporting of $1 in liabilities across all filings is unusual and might indicate a simplified reporting practice for a private foundation.