Business Industry Foundation Of Middlesex County Inc
Middlesex County Foundation Shows Consistent Financials, Room for Transparency Growth
EIN: 222793181 · Middletown, CT · NTEE: J20Z · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $719K |
| Total Expenses | $702K |
| Program Spending | 85% |
| Net Assets | $616K |
| Transparency Score | 75/100 |
Is Business Industry Foundation Of Middlesex County Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Business Industry Foundation Of Middlesex County Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Business Industry Foundation Of Middlesex County Inc
Business Industry Foundation Of Middlesex County Inc (EIN: 222793181) is a nonprofit organization based in Middletown, CT, classified under NTEE code J20Z. The organization reported total revenue of $719K and total assets of $1.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Business Industry Foundation Of Middlesex County Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Business Industry Foundation Of Middlesex County Inc is a small nonprofit that has been operating for 39 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 0.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $782K |
| Total Expenses | $702K |
| Surplus / Deficit | +$81K |
| Total Assets | $909K |
| Total Liabilities | $293K |
| Net Assets | $616K |
| Operating Margin | 10.3% |
| Debt-to-Asset Ratio | 32.3% |
| Months of Reserves | 15.5 months |
Financial Health Grade: A
In 2023, Business Industry Foundation Of Middlesex County Inc reported a surplus of $81K with revenue exceeding expenses, holds 15.5 months of operating reserves (strong position), has a debt-to-asset ratio of 32.3% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Business Industry Foundation Of Middlesex County Inc's revenue has grown at a compound annual growth rate (CAGR) of 0.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -1.7% | -7.3% | -3.9% |
| 2022 | +1.8% | -3.3% | +25.4% |
| 2021 | +11.6% | +6.3% | +0.8% |
| 2020 | +3.3% | +14.4% | -2.8% |
| 2019 | +20.9% | +22.2% | +25.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1987 |
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 Business Industry Foundation Of Middlesex County Inc with a Mission Score of 75 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Business Industry Foundation Of Middlesex County Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% 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 $81K, with revenue exceeding expenses.
- Debt-to-asset ratio: 32.3%.
Executive Compensation Analysis
Executive compensation cannot be assessed as specific figures for individual executives are not provided in the available data.
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 Business Industry Foundation Of Middlesex County Inc's IRS 990 filings:
- Lack of detailed breakdown for program expenses makes it challenging to evaluate the specific impact and efficiency of program spending.
- The provided data does not include information on board independence or governance practices, which are key transparency indicators.
Strengths
The following positive indicators were identified for Business Industry Foundation Of Middlesex County Inc:
- Consistent revenue generation over several years, with 2023 revenue at $782,497.
- Healthy asset base, with $908,895 in assets reported for 2023.
- Low liability figures, with $293,137 in liabilities for 2023, indicating good financial health.
- Consistent reporting of 0% lobbying expenses, suggesting a direct focus on mission-related activities.
Frequently Asked Questions about Business Industry Foundation Of Middlesex County Inc
Is Business Industry Foundation Of Middlesex County Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Business Industry Foundation Of Middlesex County Inc (EIN: 222793181) some concerns. Mission Score: 75/100. 2 red flags identified, 4 strengths noted.
How does Business Industry Foundation Of Middlesex County Inc spend its money?
Business Industry Foundation Of Middlesex County Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Business Industry Foundation Of Middlesex County Inc tax-deductible?
Business Industry Foundation Of Middlesex County Inc is registered as a tax-exempt nonprofit (EIN: 222793181). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Business Industry Foundation Of Middlesex County Inc's spending goes to programs?
Business Industry Foundation Of Middlesex County Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Business Industry Foundation Of Middlesex County Inc compare to similar nonprofits?
With a transparency score of 75/100 (Good), Business Industry Foundation Of Middlesex County Inc is above average for NTEE category J20Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Business Industry Foundation Of Middlesex County Inc located?
Business Industry Foundation Of Middlesex County Inc is headquartered in Middletown, Connecticut and files with the IRS under EIN 222793181. It is classified under NTEE code J20Z.
How many years of IRS 990 filings does Business Industry Foundation Of Middlesex County Inc have?
Business Industry Foundation Of Middlesex County Inc has 13 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 $719K in total revenue.
What does Business Industry Foundation Of Middlesex County Inc do?
Business Industry Foundation Of Middlesex County Inc is a nonprofit organization in the Employment sector, located in Middletown, Connecticut. It is classified under NTEE code J20Z.
How much revenue does Business Industry Foundation Of Middlesex County Inc have?
Business Industry Foundation Of Middlesex County Inc reported total revenue of $718,595. Based on 13 IRS 990 filings on record.
What are Business Industry Foundation Of Middlesex County Inc's total assets?
Business Industry Foundation Of Middlesex County Inc holds total assets of $1,077,559 as reported in IRS 990 filings.
Where is Business Industry Foundation Of Middlesex County Inc located?
Business Industry Foundation Of Middlesex County Inc is based in Middletown, Connecticut.
What is Business Industry Foundation Of Middlesex County Inc's EIN?
Business Industry Foundation Of Middlesex County Inc's Employer Identification Number (EIN) is 222793181. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Business Industry Foundation Of Middlesex County Inc?
Business Industry Foundation Of Middlesex County Inc is classified under NTEE code J20Z (Employment).
Is Business Industry Foundation Of Middlesex County Inc a registered 501(c)(3)?
Yes, Business Industry Foundation Of Middlesex County Inc is recognized as a tax-exempt organization by the IRS. EIN: 222793181.
Does Business Industry Foundation Of Middlesex County Inc file IRS Form 990?
Yes, Business Industry Foundation Of Middlesex County Inc has 13 IRS Form 990 filings on record. The most recent covers tax period 202306.
What was Business Industry Foundation Of Middlesex County Inc's revenue in 2023?
In the 202306 filing period, Business Industry Foundation Of Middlesex County Inc reported total revenue of $782,497, total expenses of $701,529, and net assets of $908,895.
Is Business Industry Foundation Of Middlesex County Inc's revenue growing or declining?
Business Industry Foundation Of Middlesex County Inc's revenue is relatively stable. Revenue went from $795,908 (202206) to $782,497 (202306), a -1.7% change. Based on 13 filings on record.
What is Business Industry Foundation Of Middlesex County Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Business Industry Foundation Of Middlesex County Inc covers tax period 202306. It shows revenue of $782,497, expenses of $701,529, total assets of $908,895, and liabilities of $293,137.
How much does Business Industry Foundation Of Middlesex County Inc spend on programs vs administration?
Based on IRS 990 analysis, Business Industry Foundation Of Middlesex County Inc allocates approximately 85% of expenses to program services, 10% to administrative costs, and 5% to fundraising. This indicates strong program focus.
Is Business Industry Foundation Of Middlesex County Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Business Industry Foundation Of Middlesex County Inc appears trustworthy. Mission Score: 75/100 (Good). 2 red flags identified. 4 strengths noted.
What are the red flags for Business Industry Foundation Of Middlesex County Inc?
The following concerns were identified: Lack of detailed breakdown for program expenses makes it challenging to evaluate the specific impact and efficiency of program spending.. The provided data does not include information on board independence or governance practices, which are key transparency indicators.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Business Industry Foundation Of Middlesex County Inc's strengths?
Positive indicators for Business Industry Foundation Of Middlesex County Inc include: Consistent revenue generation over several years, with 2023 revenue at $782,497.. Healthy asset base, with $908,895 in assets reported for 2023.. Low liability figures, with $293,137 in liabilities for 2023, indicating good financial health.. Consistent reporting of 0% lobbying expenses, suggesting a direct focus on mission-related activities.. These findings are derived from AI analysis of the organization's financial filings.
How does Business Industry Foundation Of Middlesex County Inc compensate executives?
Executive compensation cannot be assessed as specific figures for individual executives are not provided in the available data. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How does the organization ensure its program spending of approximately 85% (based on general expense ratios) is effectively reaching its target beneficiaries without more granular reporting?
While the overall expense ratio suggests a strong commitment to programs, the absence of detailed program categories in the provided data means the specific mechanisms for impact delivery and beneficiary reach are not transparently outlined. Further inquiry into their annual reports or detailed financial statements would be necessary to understand this.
Given the consistent revenue and asset base, what strategies are in place to grow the organization's impact or expand its reach within Middlesex County?
The consistent financial performance suggests stability, but the provided data does not detail strategic initiatives for growth or expansion. An assessment of their strategic plan or recent annual reports would be needed to understand how they leverage their financial health for increased impact.
Filing History
IRS 990 filing history for Business Industry Foundation Of Middlesex County Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Business Industry Foundation Of Middlesex County Inc's revenue has grown by 8.4%, moving from $722K to $782K. Total assets increased by 70.5% over the same period, from $533K to $909K. Total functional expenses fell by 2.2%, from $717K to $702K. In its most recent filing year (2023), Business Industry Foundation Of Middlesex County Inc reported a surplus of $81K, with revenue exceeding expenses. The organization holds $293K in liabilities against $909K in assets (debt-to-asset ratio: 32.3%), resulting in net assets of $616K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $782K | $702K | $909K | $293K | — | View 990 |
| 2022 | $796K | $757K | $946K | $411K | — | View 990 |
| 2021 | $781K | $783K | $754K | $258K | — | View 990 |
| 2020 | $700K | $736K | $748K | $251K | — | View 990 |
| 2019 | $678K | $643K | $770K | $236K | — | View 990 |
| 2018 | $561K | $527K | $613K | $114K | — | View 990 |
| 2017 | $717K | $716K | $542K | $77K | — | View 990 |
| 2016 | $722K | $714K | $544K | $81K | — | View 990 |
| 2015 | $682K | $695K | $505K | $50K | — | View 990 |
| 2014 | $694K | $701K | $541K | $73K | — | View 990 |
| 2013 | $705K | $698K | $550K | $76K | — | View 990 |
| 2012 | $645K | $676K | $562K | $96K | — | View 990 |
| 2011 | $722K | $717K | $533K | $36K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $782K, expenses of $702K, and assets of $909K (revenue -1.7% year-over-year).
- 2022: Revenue of $796K, expenses of $757K, and assets of $946K (revenue +1.8% year-over-year).
- 2021: Revenue of $781K, expenses of $783K, and assets of $754K (revenue +11.6% year-over-year).
- 2020: Revenue of $700K, expenses of $736K, and assets of $748K (revenue +3.3% year-over-year).
- 2019: Revenue of $678K, expenses of $643K, and assets of $770K (revenue +20.9% year-over-year).
- 2018: Revenue of $561K, expenses of $527K, and assets of $613K (revenue -21.9% year-over-year).
- 2017: Revenue of $717K, expenses of $716K, and assets of $542K (revenue -0.6% year-over-year).
- 2016: Revenue of $722K, expenses of $714K, and assets of $544K (revenue +5.8% year-over-year).
- 2015: Revenue of $682K, expenses of $695K, and assets of $505K (revenue -1.7% year-over-year).
- 2014: Revenue of $694K, expenses of $701K, and assets of $541K (revenue -1.6% year-over-year).
- 2013: Revenue of $705K, expenses of $698K, and assets of $550K (revenue +9.3% year-over-year).
- 2012: Revenue of $645K, expenses of $676K, and assets of $562K (revenue -10.6% year-over-year).
- 2011: Revenue of $722K, expenses of $717K, and assets of $533K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Business Industry Foundation Of Middlesex County Inc:
Data Sources and Methodology
This transparency report for Business Industry Foundation Of Middlesex County 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.