Borman Family Foundation
Borman Family Foundation shows consistent asset growth despite recent revenue decline and deficit spending.
EIN: 10522171 · Oakland, ME · NTEE: T99 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.7M |
| Total Expenses | $462K |
| Program Spending | 90% |
| CEO/Top Officer Pay | $11,092,289 |
| Net Assets | $10.6M |
| Transparency Score | 85/100 |
Is Borman Family Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Borman Family Foundation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Borman Family Foundation
Borman Family Foundation (EIN: 10522171) is a nonprofit organization based in Oakland, ME, classified under NTEE code T99. The organization reported total revenue of $1.7M and total assets of $11.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Borman Family Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Borman Family Foundation is a mid-size nonprofit that has been operating for 27 years, with 10 years of IRS 990 filings on record (2012–2024). Revenue has grown at a compound annual rate of -9.0%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $133K |
| Total Expenses | $462K |
| Surplus / Deficit | $-328,893 |
| Total Assets | $10.6M |
| Total Liabilities | $1 |
| Net Assets | $10.6M |
| Operating Margin | -247.1% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 274.2 months |
Financial Health Grade: B
In 2024, Borman Family Foundation reported a deficit of $329K with expenses exceeding revenue, holds 274.2 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 (2012–2024), Borman Family Foundation's revenue has declined at a compound annual growth rate (CAGR) of -9.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | -81.3% | -13.1% | +8.1% |
| 2023 | -1.5% | -0.5% | +4.6% |
| 2022 | -17.2% | +17.3% | -14.1% |
| 2021 | +49.3% | -1.5% | +14.8% |
| 2020 | +0.0% | +7.9% | +22.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1999 |
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 Borman 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: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Borman Family Foundation 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 (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $329K, 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 no salaries are paid to officers, which is highly unusual for an organization of its asset size ($11,092,289) and suggests a volunteer-led or entirely grant-making operational model.
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 Borman Family Foundation's IRS 990 filings:
- Significant deficit in the most recent filing period (202407) where expenses ($461,991) far exceeded revenue ($133,098).
- NTEE code T99 ('Other, Not Classified') provides limited insight into specific program areas or mission focus.
Strengths
The following positive indicators were identified for Borman Family Foundation:
- Consistent asset growth over the past decade, from $5,308,708 in 201207 to $11,092,289 currently.
- Zero officer compensation reported across all filings, indicating highly efficient use of funds for mission-related activities.
- Low liabilities, consistently reported as $0 or $1, suggesting strong financial management and minimal debt.
- Consistent filing history (10 filings) demonstrates transparency and compliance.
Frequently Asked Questions about Borman Family Foundation
Is Borman Family Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Borman Family Foundation (EIN: 10522171) some concerns. Mission Score: 85/100. 2 red flags identified, 4 strengths noted.
How does Borman Family Foundation spend its money?
Borman Family Foundation directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Borman Family Foundation tax-deductible?
Borman Family Foundation is registered as a tax-exempt nonprofit (EIN: 10522171). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Borman Family Foundation CEO make?
Borman Family Foundation's highest-compensated officer earns $11,092,289 annually. The organization reported $1.7M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
How does Borman Family Foundation compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Borman Family Foundation is above average for NTEE category T99 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Borman Family Foundation located?
Borman Family Foundation is headquartered in Oakland, Maine and files with the IRS under EIN 10522171. It is classified under NTEE code T99.
How many years of IRS 990 filings does Borman Family Foundation have?
Borman 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 $1.7M in total revenue.
Is the Borman Family Foundation a good charity?
Based on the available financial data, the Borman Family Foundation appears to be a financially stable organization with a strong commitment to its mission, evidenced by zero officer compensation and consistent asset growth. However, without detailed program expense breakdowns, it's difficult to fully assess the impact of its 'T99' (unclassified) NTEE code.
What caused the significant deficit in the 202407 filing period?
The 202407 filing shows revenue of $133,098 against expenses of $461,991. This represents a substantial deficit compared to previous years where revenue generally exceeded expenses. Further investigation into the nature of these expenses and the source of the revenue decline would be necessary to understand this anomaly.
How does the foundation manage its operations with zero officer compensation?
The consistent reporting of 0% officer compensation suggests that the foundation is either entirely volunteer-run at the executive level or operates primarily as a grant-making entity with minimal administrative overhead, potentially outsourcing any necessary operational functions or relying on pro bono support.
Filing History
IRS 990 filing history for Borman Family Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2012–2024), Borman Family Foundation's revenue has declined by 67.9%, moving from $415K to $133K. Total assets increased by 98.8% over the same period, from $5.3M to $10.6M. Total functional expenses rose by 35.7%, from $341K to $462K. In its most recent filing year (2024), Borman Family Foundation reported a deficit of $329K, with expenses exceeding revenue. The organization holds $1 in liabilities against $10.6M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $10.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $133K | $462K | $10.6M | $1 | — | — |
| 2023 | $711K | $532K | $9.8M | $1 | — | View 990 |
| 2022 | $722K | $534K | $9.3M | $1 | — | View 990 |
| 2021 | $872K | $455K | $10.9M | $1 | — | View 990 |
| 2020 | $584K | $462K | $9.5M | $1 | — | — |
| 2016 | $584K | $429K | $7.8M | $0 | — | View 990 |
| 2015 | $521K | $398K | $8.0M | $0 | — | View 990 |
| 2014 | $550K | $373K | $6.0M | $0 | — | View 990 |
| 2013 | $455K | $369K | $5.8M | $0 | — | View 990 |
| 2012 | $415K | $341K | $5.3M | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $133K, expenses of $462K, and assets of $10.6M (revenue -81.3% year-over-year).
- 2023: Revenue of $711K, expenses of $532K, and assets of $9.8M (revenue -1.5% year-over-year).
- 2022: Revenue of $722K, expenses of $534K, and assets of $9.3M (revenue -17.2% year-over-year).
- 2021: Revenue of $872K, expenses of $455K, and assets of $10.9M (revenue +49.3% year-over-year).
- 2020: Revenue of $584K, expenses of $462K, and assets of $9.5M (revenue +0.0% year-over-year).
- 2016: Revenue of $584K, expenses of $429K, and assets of $7.8M (revenue +12.1% year-over-year).
- 2015: Revenue of $521K, expenses of $398K, and assets of $8.0M (revenue -5.4% year-over-year).
- 2014: Revenue of $550K, expenses of $373K, and assets of $6.0M (revenue +20.9% year-over-year).
- 2013: Revenue of $455K, expenses of $369K, and assets of $5.8M (revenue +9.8% year-over-year).
- 2012: Revenue of $415K, expenses of $341K, and assets of $5.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Borman Family Foundation:
Data Sources and Methodology
This transparency report for Borman 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.