Is Nerney Family Foundation Legit?

The Nerney Family Foundation demonstrates consistent financial growth and strong program focus, typical of a private foundation. Over the past five years, its revenue has steadily increased from $1,628,474 in 2019 to $1,677,995 in 2023, with a notable jump in reported 'Latest Revenue' to $3,185,490, suggesting significant recent contributions. Expenses have generally remained below revenue in recent years, allowing for asset growth from $1,073,914 in 2019 to $2,117,719 in 2023. The foundation's NTEE code T20 indicates it is a private grantmaking foundation, which typically means its primary activity is distributing grants to other organizations rather than direct program services. This structure often results in lower administrative overhead compared to direct service charities. The foundation's financial health appears robust, with assets consistently growing and exceeding liabilities. The absence of officer compensation reported across all filings is a significant positive indicator of efficiency and dedication to mission, as it means no salaries are being paid to executives from the foundation's funds. This practice maximizes the funds available for grantmaking. The consistent reporting of minimal liabilities ($1 in recent years) also points to sound financial management. Given its nature as a private foundation, its transparency is primarily through its 990 filings, which are publicly available and consistently filed.