AI Transparency Report
The Mike Delaney Foundation, based in Old Greenwich, CT, appears to be a small organization with fluctuating but generally low revenue, averaging around $9,000-$14,000 annually in recent years. Its latest reported revenue is $40,988, which is a significant increase from previous periods, but its assets have remained relatively stable around $120,000-$130,000 in recent filings. The organization consistently reports zero officer compensation, which is a positive indicator of volunteer-led operations and efficient use of funds for its stated mission. However, the consistent reporting of $1 in liabilities across multiple recent filings (2021-2024) is unusual and could warrant further investigation into its accounting practices, though it's a minor amount.
Spending efficiency is a mixed bag. In several periods, expenses have exceeded revenue, such as in 202305 where expenses were $22,225 against $9,099 in revenue, and in 202405 where expenses were $14,100 against $11,757 in revenue. This suggests the organization is drawing down on its assets or relying on prior year surpluses to cover operational costs. Without a detailed breakdown of program, administrative, and fundraising expenses, it's challenging to fully assess spending efficiency. However, the absence of officer compensation suggests a lean operational structure.
Transparency is generally good given the consistent filing of IRS Form 990s over many years. The public availability of these filings allows for basic financial oversight. The lack of an NTEE code makes it difficult to benchmark against similar organizations, but for a small foundation, the consistent filing history is a strength. The primary area for improved transparency would be a more detailed breakdown of expenses beyond total expenses, which is not provided in the summary data.