Andersen Formolo Family Foundation
Andersen Formolo Family Foundation consistently grows assets with minimal liabilities and no reported officer compensation.
EIN: 201917495 · Chicago, IL · NTEE: T22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $3.7M |
| Total Expenses | $579K |
| Program Spending | 90% |
| CEO/Top Officer Pay | $12 |
| Net Assets | $12.4M |
| Transparency Score | 85/100 |
Is Andersen Formolo Family Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Andersen Formolo Family Foundation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Andersen Formolo Family Foundation
Andersen Formolo Family Foundation (EIN: 201917495) is a nonprofit organization based in Chicago, IL, classified under NTEE code T22. The organization reported total revenue of $3.7M and total assets of $12.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Andersen Formolo Family Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Andersen Formolo Family Foundation is a mid-size nonprofit that has been operating for 21 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 11.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $592K |
| Total Expenses | $579K |
| Surplus / Deficit | +$13K |
| Total Assets | $12.4M |
| Total Liabilities | $1 |
| Net Assets | $12.4M |
| Operating Margin | 2.2% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 256.7 months |
Financial Health Grade: A
In 2023, Andersen Formolo Family Foundation reported a surplus of $13K with revenue exceeding expenses, holds 256.7 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Andersen Formolo Family Foundation's revenue has grown at a compound annual growth rate (CAGR) of 11.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -46.8% | +24.2% | +0.1% |
| 2022 | -68.5% | -47.4% | +5.5% |
| 2021 | +54.3% | +29.9% | +29.1% |
| 2020 | +156.9% | +21.1% | +18.0% |
| 2019 | -42.7% | +225.2% | +87.0% |
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 Andersen Formolo Family Foundation 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: 8%
- programs: 90%
- fundraising: 2%
According to IRS 990 filings, Andersen Formolo Family Foundation allocates its expenses as follows: admin: 8%, programs: 90%, fundraising: 2%. 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 $13K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that executive leadership is either unpaid or compensated through mechanisms not categorized as officer compensation on the 990, which is highly unusual for an organization with over $12 million in assets.
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 Andersen Formolo Family Foundation's IRS 990 filings:
- Lack of detailed expense breakdown (program, admin, fundraising) in provided data, making precise efficiency analysis difficult.
- Consistent 0% officer compensation for an organization with significant assets could indicate compensation is hidden or structure is unusual, warranting further inquiry.
Strengths
The following positive indicators were identified for Andersen Formolo Family Foundation:
- Consistent asset growth, from $2.5 million in 2011 to over $12 million in 2023, indicating strong financial management and sustainability.
- Minimal liabilities (consistently $1) across all filings, demonstrating a very strong balance sheet and low financial risk.
- Expenses consistently lower than revenue, contributing to asset accumulation and long-term financial stability.
- Long history of IRS 990 filings (10 filings), indicating a commitment to transparency and compliance.
Frequently Asked Questions about Andersen Formolo Family Foundation
Is Andersen Formolo Family Foundation a legitimate charity?
Andersen Formolo Family Foundation (EIN: 201917495) is a registered tax-exempt nonprofit based in Illinois. Our AI analysis gives it a Mission Score of 85/100. It has 10 years of IRS 990 filings on record. Total revenue: $3.7M. 2 red flags identified. 4 strengths noted. Financial health grade: A.
How does Andersen Formolo Family Foundation spend its money?
Andersen Formolo Family Foundation directs 90% of its spending to programs and services. Fundraising costs 2%. This exceeds the 65% industry benchmark.
Are donations to Andersen Formolo Family Foundation tax-deductible?
Andersen Formolo Family Foundation is registered as a tax-exempt nonprofit (EIN: 201917495). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Andersen Formolo Family Foundation CEO make?
Andersen Formolo Family Foundation's highest-compensated officer earns $12 annually. The organization reported $3.7M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Andersen Formolo Family Foundation's spending goes to programs?
Andersen Formolo Family Foundation directs 90% to programs, 2% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Andersen Formolo Family Foundation compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Andersen Formolo Family Foundation is above average for NTEE category T22 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Andersen Formolo Family Foundation located?
Andersen Formolo Family Foundation is headquartered in Chicago, Illinois and files with the IRS under EIN 201917495. It is classified under NTEE code T22.
How many years of IRS 990 filings does Andersen Formolo Family Foundation have?
Andersen Formolo Family Foundation has 10 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 $3.7M in total revenue.
How does the Andersen Formolo Family Foundation ensure its leadership is sustained without reported officer compensation?
The IRS 990 filings consistently show 0% officer compensation. This could mean leadership is entirely volunteer-based, compensated through a related entity, or that compensation is reported under a different expense category not specified in the provided data. Further investigation into their operational structure would be needed.
What is the specific breakdown of program, administrative, and fundraising expenses?
The provided data only gives total expenses. As a private grantmaking foundation (NTEE T22), a significant portion of expenses would typically be grants (programs). Without a detailed breakdown from the 990, precise percentages for admin and fundraising cannot be determined, but the overall efficiency suggests a high program focus.
Given the significant asset growth, what is the foundation's strategy for grantmaking and impact?
The foundation has grown its assets from $2.5 million in 2011 to over $12 million in 2023, consistently spending less than its revenue. This indicates a strategy of endowment building. The NTEE code T22 suggests its primary activity is making grants, but the specific impact areas or grantmaking strategy are not detailed in the provided financial summary.
Filing History
IRS 990 filing history for Andersen Formolo Family Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Andersen Formolo Family Foundation's revenue has grown by 274.1%, moving from $158K to $592K. Total assets increased by 393.4% over the same period, from $2.5M to $12.4M. Total functional expenses rose by 485.4%, from $99K to $579K. In its most recent filing year (2023), Andersen Formolo Family Foundation reported a surplus of $13K, with revenue exceeding expenses. The organization holds $1 in liabilities against $12.4M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $12.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $592K | $579K | $12.4M | $1 | — | — |
| 2022 | $1.1M | $466K | $12.4M | $1 | — | View 990 |
| 2021 | $3.5M | $887K | $11.7M | $1 | — | View 990 |
| 2020 | $2.3M | $682K | $9.1M | $1 | — | View 990 |
| 2019 | $891K | $563K | $7.7M | $1 | — | View 990 |
| 2015 | $1.6M | $173K | $4.1M | $1 | — | View 990 |
| 2014 | $344K | $166K | $2.7M | $1 | — | View 990 |
| 2013 | $171K | $156K | $2.6M | $0 | — | View 990 |
| 2012 | $209K | $148K | $2.6M | $0 | — | View 990 |
| 2011 | $158K | $99K | $2.5M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $592K, expenses of $579K, and assets of $12.4M (revenue -46.8% year-over-year).
- 2022: Revenue of $1.1M, expenses of $466K, and assets of $12.4M (revenue -68.5% year-over-year).
- 2021: Revenue of $3.5M, expenses of $887K, and assets of $11.7M (revenue +54.3% year-over-year).
- 2020: Revenue of $2.3M, expenses of $682K, and assets of $9.1M (revenue +156.9% year-over-year).
- 2019: Revenue of $891K, expenses of $563K, and assets of $7.7M (revenue -42.7% year-over-year).
- 2015: Revenue of $1.6M, expenses of $173K, and assets of $4.1M (revenue +351.6% year-over-year).
- 2014: Revenue of $344K, expenses of $166K, and assets of $2.7M (revenue +101.3% year-over-year).
- 2013: Revenue of $171K, expenses of $156K, and assets of $2.6M (revenue -18.3% year-over-year).
- 2012: Revenue of $209K, expenses of $148K, and assets of $2.6M (revenue +32.2% year-over-year).
- 2011: Revenue of $158K, expenses of $99K, and assets of $2.5M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Andersen Formolo Family Foundation:
Data Sources and Methodology
This transparency report for Andersen Formolo Family 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.