Quick charity verification for Richman Family Foundation (EIN: 133332711)
Verdict: Richman Family Foundation appears trustworthy
70/100Mission Score
$1.1MRevenue
$30.4MAssets
3Red Flags
3Strengths
Red Flags
Significant negative revenue reported in 2023 ($-999,061) and 2022 ($-871,019), which could indicate substantial investment losses or other financial challenges.
Lack of detailed expense breakdown (program, admin, fundraising) in the provided data makes it difficult to assess spending efficiency.
Unknown NTEE code limits understanding of the organization's specific charitable purpose and impact.
Strengths
Consistently reports 0% officer compensation, indicating efficient use of funds for non-executive purposes.
Maintains substantial assets (over $30 million in recent years), providing a strong financial base.
Reports minimal liabilities (often $1), indicating a very low debt burden and strong financial solvency.
Spending Breakdown
How Richman Family Foundation allocates its funds across programs, administration, and fundraising.
80%
Program Spending
Healthy — majority goes to mission
15%
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 Richman Family Foundation
Is Richman Family Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Richman Family Foundation (EIN: 133332711) appears trustworthy. Mission Score: 70/100. 3 red flags identified, 3 strengths noted.
Is Richman Family Foundation a good charity to donate to?
Richman Family Foundation has a Mission Score of 70/100. Revenue: $1.1M. Assets: $30.4M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Richman Family Foundation?
The Employer Identification Number (EIN) for Richman Family Foundation is 133332711. 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 Richman Family Foundation spend its money?
Richman Family Foundation allocates 80% to programs, 15% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Richman Family Foundation's tax-exempt status?
You can verify Richman Family Foundation's tax-exempt status using EIN 133332711 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 Richman Family Foundation exhibits a mixed financial picture. While the organization maintains substantial assets, recently reported revenues have been negative, with a revenue of -999,061 in 2023 and -871,019 in 2022. This suggests significant investment losses or other non-operating revenue deductions in those periods, which warrants further investigation. Expenses have fluctuated, reaching a high of $3,149,634 in 2014 and a low of $548,102 in 2023. The foundation consistently reports minimal liabilities, often just $1, indicating a strong balance sheet in terms of debt. However, the lack of detailed expense breakdowns (e.g., program vs. administrative vs. fundraising) in the provided data makes a precise assessment of spending efficiency challenging. The consistent reporting of 0% officer compensation is a positive indicator of resource allocation towards the mission rather than executive salaries.
Given the nature of a family foundation, transparency can sometimes be less robust than public charities, especially regarding program specifics. The NTEE code is unknown, which limits understanding of its specific mission area. The significant swings in revenue, particularly the negative figures in recent years, raise questions about the sustainability of its funding model if these are recurring trends. Without a breakdown of expenses, it's difficult to ascertain if the majority of its spending is directly on programs. The foundation's substantial asset base of over $30 million provides a buffer, but the recent negative revenues are a concern for future grantmaking capacity.