Altamira Foundation

Altamira Foundation shows asset growth but recent operating deficits and no reported officer compensation.

EIN: 207190733 · Westwood, MA · NTEE: T20 · Updated: 2026-03-28

$9.7MRevenue

$18.6MAssets

70/100Mission Score (Good)

T20

About Altamira Foundation

Altamira Foundation (EIN: 207190733) is a nonprofit organization based in Westwood, MA, classified under NTEE code T20. The organization reported total revenue of $9.7M and total assets of $18.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Altamira Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

The Altamira Foundation demonstrates a mixed financial picture. While the organization has shown significant growth in assets, reaching $18,621,143, its recent operational performance indicates a trend of expenses exceeding revenue. For instance, in 2023, expenses were $849,284 against revenue of $565,004, and in 2022, expenses were $1,160,812 against revenue of $645,826. This suggests a reliance on prior year surpluses or investment income to cover operational costs. The consistent reporting of $1 in liabilities across multiple years, and even $0 in 2011, raises questions about the completeness or accuracy of liability reporting, which could impact the assessment of financial health and transparency. The absence of reported officer compensation across all filings is a notable aspect of its financial structure, potentially indicating a volunteer-led or externally managed executive function, or that compensation is reported in a different category not specified in the provided data.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Altamira Foundation with a Mission Score of 70 out of 100 (Good). 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: 75%
fundraising: 10%

According to IRS 990 filings, Altamira Foundation allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

The Altamira Foundation consistently reports 0% officer compensation across all available filings, which is unusual for an organization of its size with assets of $18,621,143 and annual revenues reaching nearly $3 million in some years. This could indicate a fully volunteer executive team or that executive compensation is categorized differently and not explicitly reported as 'Officer Comp' in the provided data.

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 Altamira Foundation's IRS 990 filings:

Consistent operating deficits in recent years (e.g., 2023 expenses $849,284 vs. revenue $565,004)
Unusually low or nominal liability reporting ($1 across multiple years)
0% reported officer compensation for an organization with significant assets and revenue, raising questions about executive structure or reporting completeness.

Strengths

The following positive indicators were identified for Altamira Foundation:

Significant asset growth over time, from $1,979,537 in 2011 to $18,621,143 currently.
Demonstrated ability to generate substantial revenue in certain years (e.g., $3,647,293 in 2019, $2,962,608 in 2021).
Long filing history (10 filings), indicating sustained operation.

Frequently Asked Questions about Altamira Foundation

Why does Altamira Foundation consistently report $1 in liabilities?

The consistent reporting of $1 in liabilities across most recent filings, and $0 in 2011, is highly unusual for an organization with significant assets and expenses. This could indicate an error in reporting, a specific accounting practice, or that certain liabilities are not being fully disclosed or categorized as such in the provided summary data.

How does Altamira Foundation cover its operating deficits in recent years?

In 2023 and 2022, the organization's expenses ($849,284 and $1,160,812 respectively) exceeded its revenue ($565,004 and $645,826 respectively). This suggests the foundation is drawing from its accumulated assets or investment income to cover operational costs, rather than relying solely on current year contributions.

What is the nature of Altamira Foundation's executive leadership given 0% officer compensation?

The consistent reporting of 0% officer compensation suggests that the organization may be run by an entirely volunteer executive team, or that executive services are provided pro bono, or that compensation is paid through a related entity or categorized under other expenses not detailed in the 'Officer Comp' field.

Filing History

IRS 990 filing history for Altamira Foundation showing financial trends over 10 years of public records:

Over 10 years of IRS 990 filings (2011–2023), Altamira Foundation's revenue has grown by 30%, moving from $435K to $565K. Total assets increased by 716.3% over the same period, from $2.0M to $16.2M. Total functional expenses rose by 262.3%, from $234K to $849K. In its most recent filing year (2023), Altamira Foundation reported a deficit of $284K, with expenses exceeding revenue. The organization holds $1 in liabilities against $16.2M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $16.2M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$565K	$849K	$16.2M	$1	—	View 990
2022	$646K	$1.2M	$16.4M	$1	—	View 990
2021	$3.0M	$738K	$17.4M	$1	—	View 990
2020	$1.9M	$943K	$15.2M	$1	—	View 990
2019	$3.6M	$1.2M	$14.6M	$1	—	View 990
2015	$3.0M	$581K	$5.2M	$1	—	View 990
2014	$1.2M	$405K	$3.7M	$1	—	View 990
2013	$1.5M	$369K	$2.9M	$1	—	View 990
2012	$306K	$177K	$1.8M	$1	—	View 990
2011	$435K	$234K	$2.0M	$0	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $565K, expenses of $849K, and assets of $16.2M (revenue -12.5% year-over-year).
2022: Revenue of $646K, expenses of $1.2M, and assets of $16.4M (revenue -78.2% year-over-year).
2021: Revenue of $3.0M, expenses of $738K, and assets of $17.4M (revenue +58.1% year-over-year).
2020: Revenue of $1.9M, expenses of $943K, and assets of $15.2M (revenue -48.6% year-over-year).
2019: Revenue of $3.6M, expenses of $1.2M, and assets of $14.6M (revenue +22.0% year-over-year).
2015: Revenue of $3.0M, expenses of $581K, and assets of $5.2M (revenue +148.6% year-over-year).
2014: Revenue of $1.2M, expenses of $405K, and assets of $3.7M (revenue -19.1% year-over-year).
2013: Revenue of $1.5M, expenses of $369K, and assets of $2.9M (revenue +386.0% year-over-year).
2012: Revenue of $306K, expenses of $177K, and assets of $1.8M (revenue -29.6% year-over-year).
2011: Revenue of $435K, expenses of $234K, and assets of $2.0M.

Data Sources and Methodology

This transparency report for Altamira Foundation 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.