Is Stephen L Altshul Foundation Legit?

The Stephen L Altshul Foundation demonstrates consistent financial transparency through its regular IRS 990 filings. The organization's financial health, however, shows a pattern of expenses frequently exceeding revenue in recent years, leading to a gradual decline in assets from $1,729,418 in 2013 to $973,885 in 2024. For example, in 2023, revenue was only $9,704 while expenses were $110,078. This trend suggests the foundation is primarily spending down its endowment rather than generating sufficient new income to cover its operational and programmatic costs. The absence of officer compensation across all reported periods indicates a volunteer-driven leadership, which is a positive sign for minimizing administrative overhead. Spending efficiency is difficult to fully assess without a detailed breakdown of program vs. administrative expenses within the provided data. However, the consistent 'Officer Comp=0%' is a strong indicator of low executive overhead. The foundation's liabilities have remained minimal, often reported as $1, which suggests sound financial management in terms of debt. The NTEE code T20 (Philanthropy, Voluntarism, and Grantmaking Foundations) implies its primary activity is grantmaking, and the spending patterns would ideally reflect significant distributions to other charitable causes. Overall, while the foundation is transparent with its filings and avoids executive compensation, its long-term financial sustainability is a concern given the consistent deficit spending. The significant asset base still allows for continued operations, but the trend of declining assets warrants attention. Further analysis of the specific program expenditures would be necessary to fully evaluate its impact and spending efficiency.