Bright Foundation Inc
Bright Foundation Inc. shows a decade of minimal financial activity, with recent reported revenue and assets vastly exceeding historical trends.
EIN: 202851942 · Summersville, WV · NTEE: T20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.2M |
| Total Expenses | $7K |
| Program Spending | 75% |
| Net Assets | $28K |
| Transparency Score | 65/100 |
Is Bright Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Bright Foundation Inc directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Bright Foundation Inc
Bright Foundation Inc (EIN: 202851942) is a nonprofit organization based in Summersville, WV, classified under NTEE code T20. The organization reported total revenue of $1.2M and total assets of $885K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Bright Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Bright Foundation Inc is a mid-size nonprofit that has been operating for 20 years, with 10 years of IRS 990 filings on record (2012–2024). Revenue has grown at a compound annual rate of 15.7%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $11K |
| Total Expenses | $7K |
| Surplus / Deficit | +$5K |
| Total Assets | $28K |
| Total Liabilities | $1 |
| Net Assets | $28K |
| Operating Margin | 40.4% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 49.9 months |
Financial Health Grade: A
In 2024, Bright Foundation Inc reported a surplus of $5K with revenue exceeding expenses, holds 49.9 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 (2012–2024), Bright Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 15.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +140.0% | +17.2% | +19.4% |
| 2023 | -40.5% | -21.8% | -4.3% |
| 2022 | +26.0% | +28.1% | +2.3% |
| 2021 | -45.2% | -10.0% | +2.3% |
| 2020 | +97.5% | -66.6% | +24.5% |
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 Bright Foundation Inc with a Mission Score of 65 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: 75%
- fundraising: 10%
According to IRS 990 filings, Bright Foundation Inc allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% 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 surplus of $5K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Officer compensation has consistently been reported as 0% across all provided historical filings, indicating that no executive salaries were paid, which is positive for a small organization's resource allocation.
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 Bright Foundation Inc's IRS 990 filings:
- Significant discrepancy between 'Latest Revenue' and historical 990 filing data, requiring clarification.
- Historically very low revenue and expenses, raising questions about program scope and impact over time.
Strengths
The following positive indicators were identified for Bright Foundation Inc:
- Consistent reporting of 0% officer compensation across all historical filings, indicating efficient use of funds for a small organization.
- Historically low liabilities, demonstrating sound financial management regarding debt.
Frequently Asked Questions about Bright Foundation Inc
Is Bright Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Bright Foundation Inc (EIN: 202851942) some concerns. Mission Score: 65/100. 2 red flags identified, 2 strengths noted.
How does Bright Foundation Inc spend its money?
Bright Foundation Inc directs 75% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Bright Foundation Inc tax-deductible?
Bright Foundation Inc is registered as a tax-exempt nonprofit (EIN: 202851942). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Bright Foundation Inc's spending goes to programs?
Bright Foundation Inc directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Bright Foundation Inc compare to similar nonprofits?
With a transparency score of 65/100 (Good), Bright Foundation Inc is above average for NTEE category T20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Bright Foundation Inc located?
Bright Foundation Inc is headquartered in Summersville, West Virginia and files with the IRS under EIN 202851942. It is classified under NTEE code T20.
How many years of IRS 990 filings does Bright Foundation Inc have?
Bright Foundation Inc 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 $1.2M in total revenue.
What is the source and period for the reported 'Latest Revenue' of $1,181,282 and 'Assets' of $884,876, and why do they differ so significantly from the historical 990 filings?
The provided data shows a stark contrast between the 'Latest Revenue' and 'Assets' and the historical 990 filings. The historical filings consistently show revenues under $25,000 and assets under $32,000. This discrepancy needs clarification to understand the organization's current financial scale.
Given the historically low revenue and expenses, what specific programs or activities has Bright Foundation Inc. been conducting?
With annual expenses often below $10,000 for many years, the scope of programs would likely be very limited. More information on their activities is needed to assess their impact.
How does Bright Foundation Inc. plan to manage and allocate the significantly increased funds if the 'Latest Revenue' and 'Assets' figures are accurate?
If the organization has indeed experienced a dramatic increase in funding, understanding their strategy for deploying these new resources effectively and transparently is critical for future financial health and program impact.
Filing History
IRS 990 filing history for Bright Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2012–2024), Bright Foundation Inc's revenue has grown by 476.2%, moving from $2K to $11K. Total assets increased by 5.1% over the same period, from $27K to $28K. Total functional expenses fell by 83.6%, from $41K to $7K. In its most recent filing year (2024), Bright Foundation Inc reported a surplus of $5K, with revenue exceeding expenses. The organization holds $1 in liabilities against $28K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $28K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $11K | $7K | $28K | $1 | — | View 990 |
| 2023 | $5K | $6K | $23K | $1 | — | View 990 |
| 2022 | $8K | $7K | $24K | $1 | — | View 990 |
| 2021 | $6K | $6K | $24K | $1 | — | View 990 |
| 2020 | $11K | $6K | $23K | $1 | — | View 990 |
| 2016 | $6K | $19K | $19K | $0 | — | View 990 |
| 2015 | $24K | $9K | $32K | $0 | — | View 990 |
| 2014 | $3K | $8K | $17K | $0 | — | View 990 |
| 2013 | $14K | $18K | $22K | $0 | — | View 990 |
| 2012 | $2K | $41K | $27K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $11K, expenses of $7K, and assets of $28K (revenue +140.0% year-over-year).
- 2023: Revenue of $5K, expenses of $6K, and assets of $23K (revenue -40.5% year-over-year).
- 2022: Revenue of $8K, expenses of $7K, and assets of $24K (revenue +26.0% year-over-year).
- 2021: Revenue of $6K, expenses of $6K, and assets of $24K (revenue -45.2% year-over-year).
- 2020: Revenue of $11K, expenses of $6K, and assets of $23K (revenue +97.5% year-over-year).
- 2016: Revenue of $6K, expenses of $19K, and assets of $19K (revenue -75.7% year-over-year).
- 2015: Revenue of $24K, expenses of $9K, and assets of $32K (revenue +836.8% year-over-year).
- 2014: Revenue of $3K, expenses of $8K, and assets of $17K (revenue -81.7% year-over-year).
- 2013: Revenue of $14K, expenses of $18K, and assets of $22K (revenue +611.9% year-over-year).
- 2012: Revenue of $2K, expenses of $41K, and assets of $27K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Bright Foundation Inc:
Data Sources and Methodology
This transparency report for Bright 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.