Bernard And Patricia Iacovangelo Family Foundation Inc
Bernard And Patricia Iacovangelo Family Foundation consistently allocates 100% of expenses to programs with no officer compensation.
EIN: 203864290 · Wilmington, DE · NTEE: T20 · Updated: 2026-03-28
Is Bernard And Patricia Iacovangelo Family Foundation Inc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Bernard And Patricia Iacovangelo Family Foundation Inc directs 100% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Bernard And Patricia Iacovangelo Family Foundation Inc
Bernard And Patricia Iacovangelo Family Foundation Inc (EIN: 203864290) is a nonprofit organization based in Wilmington, DE, classified under NTEE code T20. The organization reported total revenue of $2.5M and total assets of $2.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Bernard And Patricia Iacovangelo Family Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Bernard And Patricia Iacovangelo Family Foundation Inc is a mid-size nonprofit that has been operating for 20 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 12.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $513K |
| Total Expenses | $356K |
| Surplus / Deficit | +$157K |
| Total Assets | $2.3M |
| Total Liabilities | $1 |
| Net Assets | $2.3M |
| Operating Margin | 30.6% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 78.7 months |
Financial Health Grade: A
In 2023, Bernard And Patricia Iacovangelo Family Foundation Inc reported a surplus of $157K with revenue exceeding expenses, holds 78.7 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), Bernard And Patricia Iacovangelo Family Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 12.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | -124.4% | +15.0% | -20.7% |
| 2021 | +46.2% | -6.2% | +19.5% |
| 2020 | -8.3% | -9.1% | +8.6% |
| 2019 | +233.7% | +168.3% | +161.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2006 |
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 Bernard And Patricia Iacovangelo Family Foundation Inc with a Mission Score of 95 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: 0%
- programs: 100%
- fundraising: 0%
According to IRS 990 filings, Bernard And Patricia Iacovangelo Family Foundation Inc allocates its expenses as follows: admin: 0%, programs: 100%, fundraising: 0%. With 100% 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 $157K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers or directors receive salaries from the foundation. This suggests extremely low administrative overhead and a direct allocation of funds to charitable activities.
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.
Strengths
The following positive indicators were identified for Bernard And Patricia Iacovangelo Family Foundation Inc:
- 100% of expenses allocated to program services (0% officer compensation reported)
- Consistent growth in assets over the past decade (from $527,917 in 2011 to $2,335,882 in 2023)
- Extremely low administrative overhead
- Minimal liabilities reported across all filings ($1)
- Strong financial transparency through consistent IRS 990 filings
Frequently Asked Questions about Bernard And Patricia Iacovangelo Family Foundation Inc
Is Bernard And Patricia Iacovangelo Family Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Bernard And Patricia Iacovangelo Family Foundation Inc (EIN: 203864290) appears legitimate. Mission Score: 95/100. 0 red flags identified, 5 strengths noted.
How does Bernard And Patricia Iacovangelo Family Foundation Inc spend its money?
Bernard And Patricia Iacovangelo Family Foundation Inc directs 100% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Bernard And Patricia Iacovangelo Family Foundation Inc tax-deductible?
Bernard And Patricia Iacovangelo Family Foundation Inc is registered as a tax-exempt nonprofit (EIN: 203864290). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is the Bernard And Patricia Iacovangelo Family Foundation Inc. a good charity?
Yes, based on the provided data, it appears to be a very good charity. It consistently reports 0% officer compensation and minimal liabilities, indicating that virtually all expenses are directed towards its charitable programs. Its assets have also grown substantially over time.
How does the foundation manage its administrative costs?
The foundation manages its administrative costs exceptionally well, reporting 0% officer compensation in all available filings. This suggests that administrative functions are either handled by volunteers or covered by other means, allowing nearly all expenses to go directly to programs.
What is the trend in the foundation's assets?
The foundation's assets have shown a strong upward trend, growing from $527,917 in 2011 to $2,335,882 in 2023, demonstrating consistent financial growth and stability.
Filing History
IRS 990 filing history for Bernard And Patricia Iacovangelo Family Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Bernard And Patricia Iacovangelo Family Foundation Inc's revenue has grown by 298%, moving from $129K to $513K. Total assets increased by 342.5% over the same period, from $528K to $2.3M. Total functional expenses rose by 305.3%, from $88K to $356K. In its most recent filing year (2023), Bernard And Patricia Iacovangelo Family Foundation Inc reported a surplus of $157K, with revenue exceeding expenses. The organization holds $1 in liabilities against $2.3M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $2.3M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $513K | $356K | $2.3M | $1 | — | — |
| 2022 | $-189,798 | $378K | $2.2M | $1 | — | View 990 |
| 2021 | $777K | $329K | $2.7M | $1 | — | View 990 |
| 2020 | $532K | $350K | $2.3M | $1 | — | View 990 |
| 2019 | $579K | $385K | $2.1M | $1 | — | View 990 |
| 2015 | $174K | $144K | $810K | $1 | — | View 990 |
| 2014 | $224K | $159K | $780K | $1 | — | View 990 |
| 2013 | $228K | $115K | $714K | $1 | — | View 990 |
| 2012 | $166K | $92K | $602K | $1 | — | View 990 |
| 2011 | $129K | $88K | $528K | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $513K, expenses of $356K, and assets of $2.3M.
- 2022: Revenue of $-189,798, expenses of $378K, and assets of $2.2M (revenue -124.4% year-over-year).
- 2021: Revenue of $777K, expenses of $329K, and assets of $2.7M (revenue +46.2% year-over-year).
- 2020: Revenue of $532K, expenses of $350K, and assets of $2.3M (revenue -8.3% year-over-year).
- 2019: Revenue of $579K, expenses of $385K, and assets of $2.1M (revenue +233.7% year-over-year).
- 2015: Revenue of $174K, expenses of $144K, and assets of $810K (revenue -22.6% year-over-year).
- 2014: Revenue of $224K, expenses of $159K, and assets of $780K (revenue -1.4% year-over-year).
- 2013: Revenue of $228K, expenses of $115K, and assets of $714K (revenue +37.0% year-over-year).
- 2012: Revenue of $166K, expenses of $92K, and assets of $602K (revenue +28.8% year-over-year).
- 2011: Revenue of $129K, expenses of $88K, and assets of $528K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Bernard And Patricia Iacovangelo Family Foundation Inc:
Data Sources and Methodology
This transparency report for Bernard And Patricia Iacovangelo Family Foundation Inc 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.