Armadas Foundation
Armadas Foundation shows substantial asset growth with highly variable revenue and expenses, reporting no officer compensation.
EIN: 161622664 · Flushing, NY · NTEE: T22 · Updated: 2026-03-28
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| Metric | Value |
|---|---|
| Total Revenue | $771K |
| Total Expenses | $2.9M |
| Program Spending | 80% |
| CEO/Top Officer Pay | $60 |
| Net Assets | $60.7M |
| Transparency Score | 70/100 |
Search Intent Cockpit
Armadas Foundation Form 990, Revenue, CEO Pay, and IRS Filing Signals
Armadas Foundation is surfaced here as a decision-ready nonprofit financial profile, not just a charity listing. The page consolidates IRS Form 990 revenue, expenses, assets, tax-exempt classification, executive compensation, mission score, red flags, and year-by-year filing history so donors, researchers, journalists, and grant teams can answer the common search questions around Armadas Foundation in one place.
Form 990 Filing Summary
10 filing years are available, with latest revenue of $4.6M and expenses of $2.9M.
Revenue and Expenses
Armadas Foundation reported $4.6M in revenue and $2.9M in expenses, a surplus of $1.8M.
Executive Compensation
Top officer compensation appears as $60 in the stored analysis, with context against revenue and expenses below.
Charity Score and Red Flags
70/100 mission score, 3 red flags, and 3 strengths are shown from structured and AI review.
Is Armadas Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
IRS 990 Data Cockpit
Where the Money Comes From and Where It Goes
Revenue Source Mix
Revenue-source line items are not available on the stored filing yet. Future ingestion now preserves contribution, program-revenue, and investment-income fields when ProPublica provides them.
Expense Deployment
| Program services | $2.3M (80%) |
Across stored filings, Armadas Foundation shows contribution history pending. Next enrichment targets: revenue-source fields, IRS BMF classification.
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| Decision Lens | Signal | What to Inspect Next |
|---|---|---|
| Legitimacy | Some Concerns | Good filing record; 3 red flags identified |
| Mission spend | 80% to programs | Excellent |
| Financial durability | Grade A | 10 stored filing years |
| Peer context | Compare with Healthy Capital District Initiative | New York and Philanthropy context |
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Armadas Foundation directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Armadas Foundation
Armadas Foundation (EIN: 161622664) is a nonprofit organization based in Flushing, NY, classified under NTEE code T22. The organization reported total revenue of $771K and total assets of $63.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Armadas Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Armadas Foundation is a small nonprofit that has been operating for 24 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 14.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $4.6M |
| Total Expenses | $2.9M |
| Surplus / Deficit | +$1.8M |
| Total Assets | $60.7M |
| Total Liabilities | $4K |
| Net Assets | $60.7M |
| Operating Margin | 38.5% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 255.1 months |
Financial Health Grade: A
In 2023, Armadas Foundation reported a surplus of $1.8M with revenue exceeding expenses, holds 255.1 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), Armadas Foundation's revenue has grown at a compound annual growth rate (CAGR) of 14.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +13.3% | +1515.5% | +14.8% |
| 2022 | -89.6% | -97.2% | -5.7% |
| 2021 | +6588.3% | +10157.4% | +174.4% |
| 2020 | +25.5% | -94.8% | +1.3% |
| 2019 | +1632.8% | +7110.1% | +19433.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2002 |
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 Armadas 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: 80%
- fundraising: 5%
According to IRS 990 filings, Armadas Foundation 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 $1.8M, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, suggesting either a fully volunteer executive team or that executive compensation is categorized under other expense lines, which could obscure the true cost of leadership relative to the organization's substantial assets of over $60 million.
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 Armadas Foundation's IRS 990 filings:
- Extreme volatility in annual revenue and expenses, making consistent financial analysis difficult.
- Consistent reporting of 0% officer compensation, which may obscure true leadership costs if compensation is reported elsewhere.
- Lack of detailed functional expense breakdown in provided data, hindering precise assessment of spending efficiency.
Strengths
The following positive indicators were identified for Armadas Foundation:
- Substantial and consistent growth in assets, reaching over $60 million by 2023, indicating strong financial reserves.
- Very low and consistent liabilities ($3,904 across all filings), suggesting excellent financial stability and minimal debt.
- As a private grantmaking foundation (T22), its primary purpose is likely to support other charitable organizations, which aligns with a philanthropic mission.
Frequently Asked Questions about Armadas Foundation
Is Armadas Foundation a legitimate charity?
Armadas Foundation (EIN: 161622664) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 70/100. It has 10 years of IRS 990 filings on record. Total revenue: $771K. 3 red flags identified. 3 strengths noted. Financial health grade: A.
How does Armadas Foundation spend its money?
Armadas Foundation directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Armadas Foundation tax-deductible?
Armadas Foundation is registered as a tax-exempt nonprofit (EIN: 161622664). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Armadas Foundation CEO make?
Armadas Foundation's highest-compensated officer earns $60 annually. The organization reported $771K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Armadas Foundation's spending goes to programs?
Armadas Foundation directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Armadas Foundation compare to similar nonprofits?
With a transparency score of 70/100 (Good), Armadas 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 Armadas Foundation located?
Armadas Foundation is headquartered in Flushing, New York and files with the IRS under EIN 161622664. It is classified under NTEE code T22.
How many years of IRS 990 filings does Armadas Foundation have?
Armadas 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 $771K in total revenue.
How does Armadas Foundation utilize its substantial assets, which grew to over $60 million by 2023?
Given its NTEE code T22 (Private Grantmaking Foundations), it is likely that a significant portion of these assets are held as an endowment to generate income for grantmaking activities, rather than being directly spent on programs annually.
What accounts for the extreme fluctuations in annual revenue, such as $39 million in 2021 versus $4.6 million in 2023?
These fluctuations could be due to large, infrequent donations, significant investment gains or losses, or the timing of major asset transfers, which are common for private foundations.
Why is officer compensation consistently reported as 0% across all filings?
This could indicate that the foundation is managed by an unpaid board or volunteers, or that compensation for key personnel is reported under other expense categories, which would warrant further investigation for full transparency.
What is the specific breakdown of program, administrative, and fundraising expenses for Armadas Foundation?
Without detailed functional expense reporting from the 990, it's challenging to provide an exact breakdown. However, for a private grantmaking foundation, a significant portion of expenses would typically be grants paid, with a smaller percentage for administrative overhead.
Filing History
IRS 990 filing history for Armadas Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Armadas Foundation's revenue has grown by 401.9%, moving from $925K to $4.6M. Total assets increased by 50602.8% over the same period, from $120K to $60.7M. Total functional expenses rose by 210.1%, from $921K to $2.9M. In its most recent filing year (2023), Armadas Foundation reported a surplus of $1.8M, with revenue exceeding expenses. The organization holds $4K in liabilities against $60.7M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $60.7M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $4.6M | $2.9M | $60.7M | $4K | — | View 990 |
| 2022 | $4.1M | $177K | $52.9M | $4K | — | View 990 |
| 2021 | $39.4M | $6.3M | $56.1M | $4K | — | View 990 |
| 2020 | $590K | $62K | $20.4M | $4K | — | View 990 |
| 2019 | $470K | $1.2M | $20.2M | $4K | — | View 990 |
| 2015 | $27K | $17K | $103K | $4K | — | View 990 |
| 2014 | $248 | $22K | $93K | $4K | — | View 990 |
| 2013 | $410 | $22K | $115K | $4K | — | View 990 |
| 2012 | $76K | $59K | $137K | $4K | — | View 990 |
| 2011 | $925K | $921K | $120K | $4K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $4.6M, expenses of $2.9M, and assets of $60.7M (revenue +13.3% year-over-year).
- 2022: Revenue of $4.1M, expenses of $177K, and assets of $52.9M (revenue -89.6% year-over-year).
- 2021: Revenue of $39.4M, expenses of $6.3M, and assets of $56.1M (revenue +6588.3% year-over-year).
- 2020: Revenue of $590K, expenses of $62K, and assets of $20.4M (revenue +25.5% year-over-year).
- 2019: Revenue of $470K, expenses of $1.2M, and assets of $20.2M (revenue +1632.8% year-over-year).
- 2015: Revenue of $27K, expenses of $17K, and assets of $103K (revenue +10833.9% year-over-year).
- 2014: Revenue of $248, expenses of $22K, and assets of $93K (revenue -39.5% year-over-year).
- 2013: Revenue of $410, expenses of $22K, and assets of $115K (revenue -99.5% year-over-year).
- 2012: Revenue of $76K, expenses of $59K, and assets of $137K (revenue -91.8% year-over-year).
- 2011: Revenue of $925K, expenses of $921K, and assets of $120K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Armadas Foundation:
Data Sources and Methodology
This transparency report for Armadas 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.