AI Transparency Report
The Riley Foundation exhibits concerning financial trends, with a consistent pattern of expenses significantly exceeding revenue in recent years. For example, in 2023, expenses were $31,039 against revenue of $4,249, and in 2022, expenses were $60,000 against revenue of $436. This indicates a reliance on drawing down assets or other non-revenue funding sources to cover operational costs. The organization's assets have also seen a substantial decline over the past decade, from $810,209 in 2011 to $127,304 in 2023, suggesting a depletion of its financial reserves. While the organization reports 0% officer compensation, which is a positive for transparency regarding executive pay, the overall financial sustainability appears weak given the persistent deficit spending. The NTEE code T21 (Private Grantmaking Foundations) suggests its primary activity is grantmaking, but without detailed expense breakdowns, it's difficult to assess the efficiency of its program spending versus administrative or fundraising costs. The significant drop in assets and consistent negative net income raise questions about its long-term viability and impact.