Is Stephanie H And David A Spina Family Foundation Legit?

The Stephanie H And David A Spina Family Foundation appears to be a private foundation, as indicated by its consistent pattern of expenses exceeding revenue in most recent years, drawing down its asset base. For instance, in 2023, the foundation reported revenue of $635,342 against expenses of $1,690,616, resulting in a significant deficit. This trend is consistent across multiple years, with assets decreasing from $8,468,750 in 2015 to $3,896,903 in 2023. This suggests a strategy of distributing more than it receives in a given year, which is common for private foundations fulfilling their charitable mission through grants. The foundation demonstrates strong spending efficiency in terms of administrative and fundraising costs, as it reports 0% officer compensation across all available filings and likely minimal overhead given its structure. This indicates that a very high proportion of its expenditures are directed towards its programmatic goals, which is a positive sign for donors. However, without a detailed breakdown of expenses beyond officer compensation, it's challenging to fully assess the exact program spending ratio. The consistent liabilities of $1 in recent years are unusual but do not indicate significant financial risk. In terms of transparency, the foundation consistently files its IRS Form 990, providing public access to its financial data. The absence of officer compensation is a clear indicator of low administrative burden. While the NTEE code T22 (Private Grantmaking Foundations) aligns with its financial activities, a more detailed narrative of its grantmaking activities and impact would further enhance its transparency for the public.