Albert E Farone & Angela T Farone
Albert E Farone & Angela T Farone consistently generates significant net income with zero reported officer compensation.
EIN: 160911612 · Washington, DC · NTEE: B820 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $15.7M |
| Total Expenses | $805K |
| Program Spending | 80% |
| Net Assets | $39.7M |
| Transparency Score | 85/100 |
Is Albert E Farone & Angela T Farone Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Albert E Farone & Angela T Farone directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Albert E Farone & Angela T Farone
Albert E Farone & Angela T Farone (EIN: 160911612) is a nonprofit organization based in Washington, DC, classified under NTEE code B820. The organization reported total revenue of $15.7M and total assets of $39.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Albert E Farone & Angela T Farone's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Albert E Farone & Angela T Farone is a large nonprofit that has been operating for 60 years, with 12 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of 6.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.9M |
| Total Expenses | $805K |
| Surplus / Deficit | +$1.1M |
| Total Assets | $39.7M |
| Total Liabilities | $375 |
| Net Assets | $39.7M |
| Operating Margin | 58.3% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 592.6 months |
Financial Health Grade: A
In 2023, Albert E Farone & Angela T Farone reported a surplus of $1.1M with revenue exceeding expenses, holds 592.6 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 12 years of filings (2012–2023), Albert E Farone & Angela T Farone's revenue has grown at a compound annual growth rate (CAGR) of 6.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +3.6% | -4.9% | +5.3% |
| 2022 | +36.8% | +60.2% | -6.8% |
| 2021 | -72.9% | +3.7% | +25.9% |
| 2020 | +219.5% | -26.8% | -3.6% |
| 2019 | -14.3% | -18.7% | +7.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 1966 |
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 Albert E Farone & Angela T Farone with a Mission Score of 85 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Albert E Farone & Angela T Farone allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% 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 $1.1M, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The organization reports 0% officer compensation across all available filings, indicating that its leadership either serves on a purely voluntary basis or is compensated by an external entity. This practice significantly reduces administrative overhead and contributes to higher financial efficiency.
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 Albert E Farone & Angela T Farone's IRS 990 filings:
- Lack of detailed expense breakdown (program, admin, fundraising) in provided data, making precise efficiency analysis difficult.
Strengths
The following positive indicators were identified for Albert E Farone & Angela T Farone:
- Consistently positive net income, with revenues significantly exceeding expenses in all reported periods.
- Zero reported officer compensation across all filings, indicating high efficiency in leadership costs.
- Strong and growing asset base, with assets of $39,705,307 significantly outweighing liabilities.
- Low liabilities, demonstrating strong financial management and minimal debt burden.
- Consistent filing history (12 filings), indicating good compliance and transparency.
Frequently Asked Questions about Albert E Farone & Angela T Farone
Is Albert E Farone & Angela T Farone a legitimate charity?
Albert E Farone & Angela T Farone (EIN: 160911612) is a registered tax-exempt nonprofit based in Washington DC. Our AI analysis gives it a Mission Score of 85/100. It has 12 years of IRS 990 filings on record. Total revenue: $15.7M. 1 red flag identified. 5 strengths noted. Financial health grade: A.
How does Albert E Farone & Angela T Farone spend its money?
Albert E Farone & Angela T Farone directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Albert E Farone & Angela T Farone tax-deductible?
Albert E Farone & Angela T Farone is registered as a tax-exempt nonprofit (EIN: 160911612). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Albert E Farone & Angela T Farone's spending goes to programs?
Albert E Farone & Angela T Farone directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Albert E Farone & Angela T Farone compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Albert E Farone & Angela T Farone is above average for NTEE category B820 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Albert E Farone & Angela T Farone located?
Albert E Farone & Angela T Farone is headquartered in Washington, Washington DC and files with the IRS under EIN 160911612. It is classified under NTEE code B820.
How many years of IRS 990 filings does Albert E Farone & Angela T Farone have?
Albert E Farone & Angela T Farone has 12 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 $15.7M in total revenue.
Is Albert E Farone & Angela T Farone a good charity?
Based on the available IRS 990 data, the organization appears to be financially healthy, consistently generating more revenue than expenses. The absence of reported officer compensation is a positive indicator of efficiency. However, without detailed expense breakdowns, it's difficult to fully assess program spending efficiency.
How has the organization's revenue trended over the past few years?
Revenue has fluctuated but generally remained strong. It was $1,930,174 in 2023, $1,862,925 in 2022, and $1,361,588 in 2021, with a notable peak of $5,021,578 in 2020.
What is the organization's asset-to-liability ratio?
The organization maintains a very strong asset-to-liability ratio. For example, in 2023, assets were $39,735,944 against liabilities of $375, indicating excellent financial stability.
Filing History
IRS 990 filing history for Albert E Farone & Angela T Farone showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2023), Albert E Farone & Angela T Farone's revenue has grown by 99.3%, moving from $968K to $1.9M. Total assets increased by 55.1% over the same period, from $25.6M to $39.7M. Total functional expenses rose by 39.4%, from $577K to $805K. In its most recent filing year (2023), Albert E Farone & Angela T Farone reported a surplus of $1.1M, with revenue exceeding expenses. The organization holds $375 in liabilities against $39.7M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $39.7M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.9M | $805K | $39.7M | $375 | — | View 990 |
| 2022 | $1.9M | $846K | $37.7M | $750 | — | View 990 |
| 2021 | $1.4M | $528K | $40.5M | $0 | — | View 990 |
| 2020 | $5.0M | $509K | $32.2M | $2K | — | View 990 |
| 2019 | $1.6M | $696K | $33.4M | $2K | — | View 990 |
| 2018 | $1.8M | $856K | $30.9M | $833K | — | View 990 |
| 2017 | $1.2M | $681K | $29.9M | $659K | — | View 990 |
| 2016 | $1.1M | $618K | $32.3M | $601K | — | View 990 |
| 2015 | $1.3M | $595K | $31.2M | $581K | — | View 990 |
| 2014 | $1.2M | $667K | $31.1M | $645K | — | View 990 |
| 2013 | $948K | $691K | $27.3M | $681K | — | View 990 |
| 2012 | $968K | $577K | $25.6M | $565K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.9M, expenses of $805K, and assets of $39.7M (revenue +3.6% year-over-year).
- 2022: Revenue of $1.9M, expenses of $846K, and assets of $37.7M (revenue +36.8% year-over-year).
- 2021: Revenue of $1.4M, expenses of $528K, and assets of $40.5M (revenue -72.9% year-over-year).
- 2020: Revenue of $5.0M, expenses of $509K, and assets of $32.2M (revenue +219.5% year-over-year).
- 2019: Revenue of $1.6M, expenses of $696K, and assets of $33.4M (revenue -14.3% year-over-year).
- 2018: Revenue of $1.8M, expenses of $856K, and assets of $30.9M (revenue +57.4% year-over-year).
- 2017: Revenue of $1.2M, expenses of $681K, and assets of $29.9M (revenue +5.3% year-over-year).
- 2016: Revenue of $1.1M, expenses of $618K, and assets of $32.3M (revenue -14.6% year-over-year).
- 2015: Revenue of $1.3M, expenses of $595K, and assets of $31.2M (revenue +10.9% year-over-year).
- 2014: Revenue of $1.2M, expenses of $667K, and assets of $31.1M (revenue +23.1% year-over-year).
- 2013: Revenue of $948K, expenses of $691K, and assets of $27.3M (revenue -2.1% year-over-year).
- 2012: Revenue of $968K, expenses of $577K, and assets of $25.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Albert E Farone & Angela T Farone:
Data Sources and Methodology
This transparency report for Albert E Farone & Angela T Farone 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.