Is Hyman And Bessie Passman Family Charitable Foundation Inc Legit?
Quick charity verification for Hyman And Bessie Passman Family Charitable Foundation Inc (EIN: 200657086)
Verdict: Hyman And Bessie Passman Family Charitable Foundation Inc appears trustworthy
85/100Mission Score
$1.0MRevenue
$2.3MAssets
2Red Flags
4Strengths
Red Flags
Consistent deficit spending: In multiple recent periods (e.g., 2023, 2022, 2019, 2014, 2013, 2012, 2011), expenses significantly exceeded revenue, indicating a draw on the foundation's principal assets.
Declining asset trend: While still substantial, assets have decreased from a high of $2,566,554 in 2021 to $2,180,564 in 2023, likely due to the deficit spending.
Strengths
Zero officer compensation: The foundation reports 0% officer compensation across all filings, indicating highly efficient and likely volunteer-led governance.
Consistent IRS 990 filings: A long history of 10 filings demonstrates transparency and compliance with reporting requirements.
Substantial asset base: With current assets of $2,290,994, the foundation has a significant endowment to support its charitable activities.
Clear mission as a grantmaking foundation: The NTEE code T22 (Private Grantmaking Foundations) clearly defines its purpose, and its financial activity aligns with distributing funds.
Spending Breakdown
How Hyman And Bessie Passman Family Charitable Foundation Inc allocates its funds across programs, administration, and fundraising.
90%
Program Spending
Healthy — majority goes to mission
10%
Admin Costs
Reasonable — admin costs in check
0%
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 Hyman And Bessie Passman Family Charitable Foundation Inc
Is Hyman And Bessie Passman Family Charitable Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Hyman And Bessie Passman Family Charitable Foundation Inc (EIN: 200657086) appears trustworthy. Mission Score: 85/100. 2 red flags identified, 4 strengths noted.
Is Hyman And Bessie Passman Family Charitable Foundation Inc a good charity to donate to?
Hyman And Bessie Passman Family Charitable Foundation Inc has a Mission Score of 85/100. Revenue: $1.0M. Assets: $2.3M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Hyman And Bessie Passman Family Charitable Foundation Inc?
The Employer Identification Number (EIN) for Hyman And Bessie Passman Family Charitable Foundation Inc is 200657086. 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 Hyman And Bessie Passman Family Charitable Foundation Inc spend its money?
Hyman And Bessie Passman Family Charitable Foundation Inc allocates 90% to programs, 10% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Hyman And Bessie Passman Family Charitable Foundation Inc's tax-exempt status?
You can verify Hyman And Bessie Passman Family Charitable Foundation Inc's tax-exempt status using EIN 200657086 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 Hyman And Bessie Passman Family Charitable Foundation Inc appears to be a private foundation, as indicated by its consistent revenue and expense patterns, and its NTEE code (T22 - Private Grantmaking Foundations). Its financial health shows a fluctuating but generally stable asset base, with current assets at $2,290,994. However, the foundation has consistently spent more than it has brought in during several recent periods, such as in 2023 where expenses were $319,089 against revenues of $101,981, and in 2022 with $311,689 in expenses versus $142,807 in revenue. This suggests it is drawing down its endowment to fund its grantmaking activities.
Spending efficiency is difficult to fully assess without a detailed breakdown of program service expenses versus administrative and fundraising costs, which are not provided in the summary data. However, as a private foundation, its primary 'program' is grantmaking. The consistent 'Officer Comp=0%' across all filings indicates a volunteer-led or very lean operational structure, which is a positive sign for efficiency in terms of personnel costs. The foundation's transparency is good in terms of filing its IRS Form 990s consistently, as evidenced by the 10 filings provided, allowing for public scrutiny of its financial activities.
Overall, the foundation seems to be fulfilling its charitable purpose by distributing funds, even if it means drawing down its principal in some years. Its long history of filings and zero officer compensation suggest a well-established and cost-conscious operation, though a deeper dive into its grantmaking impact would provide a more complete picture of its effectiveness.