Bertram Steinman Family Foundation Inc
Bertram Steinman Family Foundation Inc. experiences consistent deficit spending, drawing down assets while maintaining zero officer compensation.
EIN: 113570704 · Westport, CT · NTEE: T20 · Updated: 2026-03-28
Is Bertram Steinman Family Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Bertram Steinman Family Foundation Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Bertram Steinman Family Foundation Inc
Bertram Steinman Family Foundation Inc (EIN: 113570704) is a nonprofit organization based in Westport, CT, classified under NTEE code T20. The organization reported total revenue of $277K and total assets of $1.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Bertram Steinman Family Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Bertram Steinman Family Foundation Inc is a small nonprofit that has been operating for 26 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -2.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $13K |
| Total Expenses | $185K |
| Surplus / Deficit | $-172,161 |
| Total Assets | $2.0M |
| Total Liabilities | $1 |
| Net Assets | $2.0M |
| Operating Margin | -1322.4% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 129.9 months |
Financial Health Grade: B
In 2023, Bertram Steinman Family Foundation Inc reported a deficit of $172K with expenses exceeding revenue, holds 129.9 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), Bertram Steinman Family Foundation Inc's revenue has declined at a compound annual growth rate (CAGR) of -2.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -93.5% | -35.7% | -8.0% |
| 2022 | +73.0% | +203.1% | -5.0% |
| 2021 | -30.4% | -55.3% | +0.2% |
| 2020 | -28.5% | +3.2% | -2.5% |
| 2019 | -49.0% | +59.9% | +26.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2000 |
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 Bertram Steinman Family Foundation Inc 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: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Bertram Steinman Family Foundation Inc allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. 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 deficit of $172K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that officers are not directly compensated, which is a strong positive for a foundation of this size ($1.86 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 Bertram Steinman Family Foundation Inc's IRS 990 filings:
- Consistent deficit spending in recent years (e.g., 2023 expenses $185,180 vs. revenue $13,019)
- Declining asset base over the last few years
Strengths
The following positive indicators were identified for Bertram Steinman Family Foundation Inc:
- Zero reported officer compensation across all filings
- Substantial asset base ($1,861,029) for a private foundation
- Minimal liabilities ($1) indicating strong financial health in terms of debt
- No reported fundraising expenses, suggesting efficient operations for a grant-making entity
Frequently Asked Questions about Bertram Steinman Family Foundation Inc
Is Bertram Steinman Family Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Bertram Steinman Family Foundation Inc (EIN: 113570704) some concerns. Mission Score: 85/100. 2 red flags identified, 4 strengths noted.
How does Bertram Steinman Family Foundation Inc spend its money?
Bertram Steinman Family Foundation Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Bertram Steinman Family Foundation Inc tax-deductible?
Bertram Steinman Family Foundation Inc is registered as a tax-exempt nonprofit (EIN: 113570704). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Bertram Steinman Family Foundation Inc. financially stable?
While the foundation has a substantial asset base of $1,861,029, it has consistently spent more than its revenue in recent years (e.g., $185,180 expenses vs. $13,019 revenue in 2023), leading to a gradual decrease in assets. Its long-term stability will depend on its investment performance and future revenue generation relative to its grant-making activities.
How does the foundation manage its administrative costs?
Given the NTEE code T20 (Private Grantmaking Foundations) and the consistent 0% officer compensation, it is highly probable that administrative costs are kept low, primarily covering operational expenses rather than salaries. The absence of fundraising expenses also suggests a lean operational model.
What is the trend in the foundation's assets?
The foundation's assets have generally decreased in recent years, from a peak of $2,349,627 in 2019 to $2,004,467 in 2023, largely due to expenses exceeding revenue. However, the current asset base of $1,861,029 remains substantial.
Filing History
IRS 990 filing history for Bertram Steinman Family Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Bertram Steinman Family Foundation Inc's revenue has declined by 26.3%, moving from $18K to $13K. Total assets increased by 196.5% over the same period, from $676K to $2.0M. Total functional expenses rose by 221%, from $58K to $185K. In its most recent filing year (2023), Bertram Steinman Family Foundation Inc reported a deficit of $172K, with expenses exceeding revenue. The organization holds $1 in liabilities against $2.0M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $2.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $13K | $185K | $2.0M | $1 | — | View 990 |
| 2022 | $200K | $288K | $2.2M | $1 | — | View 990 |
| 2021 | $115K | $95K | $2.3M | $1 | — | — |
| 2020 | $166K | $213K | $2.3M | $1 | — | — |
| 2019 | $232K | $206K | $2.3M | $1 | — | — |
| 2015 | $454K | $129K | $1.9M | $1 | — | View 990 |
| 2014 | $409K | $95K | $1.7M | $1 | — | View 990 |
| 2013 | $429K | $91K | $1.6M | $1 | — | View 990 |
| 2012 | $642K | $56K | $1.3M | $1 | — | View 990 |
| 2011 | $18K | $58K | $676K | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $13K, expenses of $185K, and assets of $2.0M (revenue -93.5% year-over-year).
- 2022: Revenue of $200K, expenses of $288K, and assets of $2.2M (revenue +73.0% year-over-year).
- 2021: Revenue of $115K, expenses of $95K, and assets of $2.3M (revenue -30.4% year-over-year).
- 2020: Revenue of $166K, expenses of $213K, and assets of $2.3M (revenue -28.5% year-over-year).
- 2019: Revenue of $232K, expenses of $206K, and assets of $2.3M (revenue -49.0% year-over-year).
- 2015: Revenue of $454K, expenses of $129K, and assets of $1.9M (revenue +11.2% year-over-year).
- 2014: Revenue of $409K, expenses of $95K, and assets of $1.7M (revenue -4.6% year-over-year).
- 2013: Revenue of $429K, expenses of $91K, and assets of $1.6M (revenue -33.3% year-over-year).
- 2012: Revenue of $642K, expenses of $56K, and assets of $1.3M (revenue +3535.6% year-over-year).
- 2011: Revenue of $18K, expenses of $58K, and assets of $676K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Bertram Steinman Family Foundation Inc:
Data Sources and Methodology
This transparency report for Bertram Steinman 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.