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.