Agganis Foundation Inc
Agganis Foundation maintains strong asset growth with volunteer leadership, despite fluctuating annual revenues.
EIN: 202059030 · Lynn, MA · NTEE: B82 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $348K |
| Total Expenses | $155K |
| Program Spending | 90% |
| Net Assets | $1.7M |
| Transparency Score | 92/100 |
Is Agganis Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Agganis Foundation Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Agganis Foundation Inc
Agganis Foundation Inc (EIN: 202059030) is a nonprofit organization based in Lynn, MA, classified under NTEE code B82. The organization reported total revenue of $348K and total assets of $1.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Agganis Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Agganis Foundation Inc is a small nonprofit that has been operating for 21 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 24.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $447K |
| Total Expenses | $155K |
| Surplus / Deficit | +$292K |
| Total Assets | $1.7M |
| Total Liabilities | $4K |
| Net Assets | $1.7M |
| Operating Margin | 65.4% |
| Debt-to-Asset Ratio | 0.2% |
| Months of Reserves | 130.6 months |
Financial Health Grade: A
In 2023, Agganis Foundation Inc reported a surplus of $292K with revenue exceeding expenses, holds 130.6 months of operating reserves (strong position), has a debt-to-asset ratio of 0.2% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Agganis Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 24.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +68.1% | -69.9% | +21.0% |
| 2022 | -25.0% | +257.3% | -15.3% |
| 2021 | +34.7% | -7.0% | +14.8% |
| 2020 | -37.0% | -33.7% | +8.2% |
| 2019 | +1447.7% | +64.5% | +16.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2005 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Agganis Foundation Inc with a Mission Score of 92 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 5%
- programs: 90%
- fundraising: 5%
According to IRS 990 filings, Agganis Foundation Inc allocates its expenses as follows: admin: 5%, programs: 90%, fundraising: 5%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $292K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.2%.
Executive Compensation Analysis
Executive compensation has consistently been reported as 0% across all available filings, indicating that the organization's leadership is entirely volunteer-based, which is highly commendable for a nonprofit of its size.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Agganis Foundation Inc's IRS 990 filings:
- Significant expense exceeding revenue in 2022 ($513,404 expenses vs. $265,924 revenue), leading to a temporary asset decrease.
Strengths
The following positive indicators were identified for Agganis Foundation Inc:
- Consistent asset growth over the past decade, reaching $1,683,552 in 2023.
- Zero officer compensation reported across all filings, indicating volunteer leadership and efficient use of funds.
- Very low liabilities, consistently under $7,000 in recent years, demonstrating strong financial management.
- Strong program focus implied by NTEE code B82 (Scholarships & Student Financial Aid) and efficient spending ratios.
- Excellent transparency with 13 consistent IRS 990 filings.
Frequently Asked Questions about Agganis Foundation Inc
Is Agganis Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Agganis Foundation Inc (EIN: 202059030) some concerns. Mission Score: 92/100. 1 red flag identified, 5 strengths noted.
How does Agganis Foundation Inc spend its money?
Agganis Foundation Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Agganis Foundation Inc tax-deductible?
Agganis Foundation Inc is registered as a tax-exempt nonprofit (EIN: 202059030). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Agganis Foundation Inc's spending goes to programs?
Agganis Foundation Inc directs 90% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Agganis Foundation Inc compare to similar nonprofits?
With a transparency score of 92/100 (Excellent), Agganis Foundation Inc is above average for NTEE category B82 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Agganis Foundation Inc located?
Agganis Foundation Inc is headquartered in Lynn, Massachusetts and files with the IRS under EIN 202059030. It is classified under NTEE code B82.
How many years of IRS 990 filings does Agganis Foundation Inc have?
Agganis Foundation Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $348K in total revenue.
Is Agganis Foundation Inc a good charity?
Based on the available data, Agganis Foundation Inc appears to be a good charity. It demonstrates strong financial health with growing assets, very low liabilities, and a volunteer-led executive team (0% officer compensation), ensuring funds are directed towards its mission.
How has the organization's financial health changed over time?
The organization's financial health has generally improved over time, with assets growing from $1,079,702 in 2016 to $1,683,552 in 2023. While revenue and expenses have fluctuated year-to-year, the overall trend shows increasing capacity and stability.
What caused the significant expense increase in 2022?
In 2022, expenses ($513,404) significantly exceeded revenue ($265,924). Without detailed expense breakdowns, it's difficult to pinpoint the exact cause, but it could be due to a large one-time program expenditure, investment losses, or a timing difference in revenue recognition versus program delivery.
Filing History
IRS 990 filing history for Agganis Foundation Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Agganis Foundation Inc's revenue has grown by 1287.9%, moving from $32K to $447K. Total assets increased by 100.4% over the same period, from $840K to $1.7M. Total functional expenses rose by 38.8%, from $111K to $155K. In its most recent filing year (2023), Agganis Foundation Inc reported a surplus of $292K, with revenue exceeding expenses. The organization holds $4K in liabilities against $1.7M in assets (debt-to-asset ratio: 0.2%), resulting in net assets of $1.7M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $447K | $155K | $1.7M | $4K | — | — |
| 2022 | $266K | $513K | $1.4M | $3K | — | View 990 |
| 2021 | $355K | $144K | $1.6M | $7K | — | View 990 |
| 2020 | $263K | $154K | $1.4M | $7K | — | View 990 |
| 2019 | $418K | $233K | $1.3M | $7K | — | View 990 |
| 2018 | $27K | $142K | $1.1M | $7K | — | View 990 |
| 2017 | $259K | $117K | $1.3M | $36K | — | View 990 |
| 2016 | $99K | $116K | $1.1M | $6K | — | — |
| 2015 | $65K | $110K | $1.1M | $6K | — | View 990 |
| 2014 | $108K | $123K | $1.1M | $6K | — | View 990 |
| 2013 | $372K | $123K | $1.2M | $6K | — | View 990 |
| 2012 | $177K | $110K | $907K | $6K | — | View 990 |
| 2011 | $32K | $111K | $840K | $6K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $447K, expenses of $155K, and assets of $1.7M (revenue +68.1% year-over-year).
- 2022: Revenue of $266K, expenses of $513K, and assets of $1.4M (revenue -25.0% year-over-year).
- 2021: Revenue of $355K, expenses of $144K, and assets of $1.6M (revenue +34.7% year-over-year).
- 2020: Revenue of $263K, expenses of $154K, and assets of $1.4M (revenue -37.0% year-over-year).
- 2019: Revenue of $418K, expenses of $233K, and assets of $1.3M (revenue +1447.7% year-over-year).
- 2018: Revenue of $27K, expenses of $142K, and assets of $1.1M (revenue -89.6% year-over-year).
- 2017: Revenue of $259K, expenses of $117K, and assets of $1.3M (revenue +160.5% year-over-year).
- 2016: Revenue of $99K, expenses of $116K, and assets of $1.1M (revenue +53.7% year-over-year).
- 2015: Revenue of $65K, expenses of $110K, and assets of $1.1M (revenue -39.8% year-over-year).
- 2014: Revenue of $108K, expenses of $123K, and assets of $1.1M (revenue -71.1% year-over-year).
- 2013: Revenue of $372K, expenses of $123K, and assets of $1.2M (revenue +110.6% year-over-year).
- 2012: Revenue of $177K, expenses of $110K, and assets of $907K (revenue +449.0% year-over-year).
- 2011: Revenue of $32K, expenses of $111K, and assets of $840K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Agganis Foundation Inc:
Data Sources and Methodology
This transparency report for Agganis Foundation Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.