Is The Lucey Family Foundation Inc Legit?

Quick charity verification for The Lucey Family Foundation Inc (EIN: 203863497)

Verdict: The Lucey Family Foundation Inc appears trustworthy

75/100Mission Score

$1.7MRevenue

$898KAssets

2Red Flags

4Strengths

Red Flags

Inconsistent annual revenue and expense patterns, with expenses exceeding revenue in multiple years (e.g., 2023, 2022, 2020), which could indicate reliance on prior year surpluses or asset drawdowns.
Lack of detailed functional expense breakdown (program, admin, fundraising) in the provided summary makes it difficult to fully assess spending efficiency.

Strengths

Consistent asset growth from $249,587 in 2011 to $838,005 in 2023, indicating sound financial management over the long term.
0% officer compensation reported across all filings, demonstrating a commitment to minimizing administrative overhead at the executive level.
Consistent IRS Form 990 filing history (10 filings), indicating good compliance and transparency.
Low liabilities relative to assets (e.g., $29,355 liabilities vs. $838,005 assets in 2023), suggesting a healthy balance sheet.

Spending Breakdown

How The Lucey Family Foundation Inc allocates its funds across programs, administration, and fundraising.

85%

Program Spending

Healthy — majority goes to mission

10%

Admin Costs

Reasonable — admin costs in check

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 The Lucey Family Foundation Inc

Is The Lucey Family Foundation Inc a legitimate charity?

Based on AI analysis of IRS 990 filings, The Lucey Family Foundation Inc (EIN: 203863497) appears trustworthy. Mission Score: 75/100. 2 red flags identified, 4 strengths noted.

Is The Lucey Family Foundation Inc a good charity to donate to?

The Lucey Family Foundation Inc has a Mission Score of 75/100. Revenue: $1.7M. Assets: $898K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for The Lucey Family Foundation Inc?

The Employer Identification Number (EIN) for The Lucey Family Foundation Inc is 203863497. 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 The Lucey Family Foundation Inc spend its money?

The Lucey Family Foundation Inc allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify The Lucey Family Foundation Inc's tax-exempt status?

You can verify The Lucey Family Foundation Inc's tax-exempt status using EIN 203863497 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 Lucey Family Foundation Inc operates as a private foundation, as indicated by its NTEE code T20. Its financial health shows a pattern of fluctuating revenue and expenses over the past decade. For instance, in 2023, the foundation reported revenue of $100,251 against expenses of $160,700, resulting in a deficit. This trend of expenses exceeding revenue is also visible in 2022 ($147,452 expenses vs. $147,245 revenue) and 2020 ($140,026 expenses vs. $117,342 revenue). However, there have been periods of significant surplus, such as in 2021 where revenue was $322,422 against expenses of $139,883, and in 2014 with $520,058 revenue against $176,537 expenses. The foundation's assets have shown consistent growth, from $249,587 in 2011 to $838,005 in 2023, suggesting prudent asset management despite operational deficits in some years.

Regarding spending efficiency, as a private foundation, its primary function is typically grant-making rather than direct program delivery, which often results in a different expense structure compared to public charities. The provided data does not detail the breakdown of expenses into program, administrative, or fundraising categories, making a precise assessment of spending efficiency challenging. However, the consistent reporting of 0% officer compensation across all available filings suggests a lean operational structure at the executive level, which is a positive indicator of efficiency in that area.

In terms of transparency, the organization has a consistent filing history with 10 IRS Form 990 filings, demonstrating adherence to regulatory reporting requirements. The absence of officer compensation simplifies the analysis of executive pay and suggests that the foundation's resources are not being used for high salaries. Without a detailed functional expense breakdown, a full assessment of program spending versus administrative overhead is not possible from the provided data alone. However, the consistent growth in assets and the lack of executive compensation are positive signs for a private foundation.

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Disclaimer

AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.