Armadas Foundation

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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.

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

Across stored filings, Armadas Foundation shows contribution history pending. Next enrichment targets: revenue-source fields, IRS BMF classification.

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Keep the Investigation Moving

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:

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%.

IRS Tax-Exempt Classification

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

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-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.