Is Hyde Family Charitable Fund Legit?

Quick charity verification for Hyde Family Charitable Fund (EIN: 161502229)

Verdict: Hyde Family Charitable Fund appears trustworthy

75/100Mission Score
$6.1MRevenue
$5.1MAssets
3Red Flags
3Strengths

Red Flags

Strengths

Spending Breakdown

How Hyde Family Charitable Fund allocates its funds across programs, administration, and fundraising.

90%
Program Spending
Healthy — majority goes to mission
5%
Admin Costs
Reasonable — admin costs in check
5%
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 Hyde Family Charitable Fund

Is Hyde Family Charitable Fund a legitimate charity?

Based on AI analysis of IRS 990 filings, Hyde Family Charitable Fund (EIN: 161502229) appears trustworthy. Mission Score: 75/100. 3 red flags identified, 3 strengths noted.

Is Hyde Family Charitable Fund a good charity to donate to?

Hyde Family Charitable Fund has a Mission Score of 75/100. Revenue: $6.1M. Assets: $5.1M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for Hyde Family Charitable Fund?

The Employer Identification Number (EIN) for Hyde Family Charitable Fund is 161502229. 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 Hyde Family Charitable Fund spend its money?

Hyde Family Charitable Fund allocates 90% to programs, 5% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify Hyde Family Charitable Fund's tax-exempt status?

You can verify Hyde Family Charitable Fund's tax-exempt status using EIN 161502229 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 Hyde Family Charitable Fund exhibits highly variable financial activity, with a significant revenue spike to $10,784,933 and expenses of $15,853,307 in 2023, contrasting sharply with prior years where revenue was typically under $500,000. This suggests a major, possibly one-time, financial event or a substantial shift in funding strategy. The organization consistently reports 0% officer compensation across all available filings, indicating a volunteer-led or very lean executive structure, which is a positive for donor confidence regarding administrative overhead. However, the substantial deficit in 2023, where expenses exceeded revenue by over $5 million, warrants closer examination to understand its impact on long-term sustainability, especially given the decrease in assets from $5,202,377 in 2022 to $3,821,959 in 2023. The fund's asset base has fluctuated but generally remained above $3.8 million, providing some financial cushion. The lack of reported officer compensation is a strong indicator of efficient use of funds at the executive level. However, without a detailed breakdown of program, administrative, and fundraising expenses, it's challenging to fully assess spending efficiency beyond the executive compensation aspect. The significant year-over-year changes in revenue and expenses, particularly the large deficit in 2023, could be a red flag if not adequately explained by specific programmatic activities or investment strategies. Overall, the Hyde Family Charitable Fund demonstrates strong transparency regarding executive compensation, reporting zero for all periods. Its financial health appears stable in terms of asset base, but the dramatic swings in revenue and expenses, particularly the large deficit in 2023, suggest a need for more detailed financial reporting to fully understand its operational model and long-term viability. Donors should seek further clarification on the nature of the 2023 financial activities and how the deficit was managed.

View Full Transparency Report →

Disclaimer

AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.

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