Damani Foundation Inc
Damani Foundation Inc. experiences significant revenue volatility, with recent filing showing near-zero income.
EIN: 203940756 · Duluth, GA · NTEE: T20 · Updated: 2026-03-28
Is Damani Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Damani Foundation Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Damani Foundation Inc
Damani Foundation Inc (EIN: 203940756) is a nonprofit organization based in Duluth, GA, classified under NTEE code T20. The organization reported total revenue of $250K and total assets of $323K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Damani Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Damani Foundation Inc is a small nonprofit that has been operating for 7 years, with 5 years of IRS 990 filings on record (2019–2023). Revenue has grown at a compound annual rate of 0.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1 |
| Total Expenses | $57K |
| Surplus / Deficit | $-57,429 |
| Total Assets | $171K |
| Total Liabilities | $1K |
| Net Assets | $170K |
| Operating Margin | -5742900.0% |
| Debt-to-Asset Ratio | 0.6% |
| Months of Reserves | 35.8 months |
Financial Health Grade: B
In 2023, Damani Foundation Inc reported a deficit of $57K with expenses exceeding revenue, holds 35.8 months of operating reserves (strong position), has a debt-to-asset ratio of 0.6% (very low leverage).
Financial Trends
Over 5 years of filings (2019–2023), Damani Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 0.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -100.0% | -23.3% | -24.8% |
| 2022 | -21.1% | -73.3% | +333.1% |
| 2021 | +31679900.0% | +7530.6% | +235.5% |
| 2020 | +0.0% | -65.7% | -18.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2019 |
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 Damani 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: 80%
- fundraising: 5%
According to IRS 990 filings, Damani Foundation Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% 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 $57K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.6%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all five available filings, indicating that no officers received compensation, which is highly favorable for a nonprofit of its size.
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 Damani Foundation Inc's IRS 990 filings:
- Extreme revenue volatility, with multiple years reporting near-zero income ($1 in 2019, 2020, 2023) contrasted with significant revenue in other years.
- Expenses ($57,430 in 2023) significantly exceeded reported revenue ($1) in the latest filing, indicating an unsustainable operational model without external support or reserves.
- Assets decreased from $227,744 in 2022 to $171,344 in 2023, potentially due to covering operational deficits.
Strengths
The following positive indicators were identified for Damani Foundation Inc:
- Consistent reporting of 0% officer compensation across all filings, indicating a commitment to directing funds away from executive salaries.
- Maintained assets above liabilities in all reported periods, suggesting some level of financial stability despite revenue fluctuations.
- Regularly files IRS Form 990, demonstrating compliance and transparency in financial reporting.
Frequently Asked Questions about Damani Foundation Inc
Is Damani Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Damani Foundation Inc (EIN: 203940756) some concerns. Mission Score: 65/100. 3 red flags identified, 3 strengths noted.
How does Damani Foundation Inc spend its money?
Damani Foundation Inc directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Damani Foundation Inc tax-deductible?
Damani Foundation Inc is registered as a tax-exempt nonprofit (EIN: 203940756). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What caused the drastic drop in revenue to $1 in 2023, and how does the organization plan to sustain operations?
The provided data shows revenue of $1 in 2023, a significant decrease from $250,050 in 2022. This raises questions about the organization's funding sources and long-term financial viability, especially given expenses of $57,430 in the same period.
How does the Damani Foundation Inc. manage its expenses when revenue is minimal, as seen in 2019, 2020, and 2023?
In years with minimal revenue (e.g., $1 in 2019, 2020, 2023), the organization still incurred expenses ($10,706 in 2019, $3,668 in 2020, $57,430 in 2023). This suggests reliance on prior year reserves or other undisclosed funding mechanisms to cover operational costs.
What is the specific nature of the programs funded by Damani Foundation Inc. given its NTEE code T20?
The NTEE code T20 indicates the organization is a Philanthropy, Voluntarism, and Grantmaking Foundation. Understanding the specific types of grants or initiatives it supports would provide clarity on its programmatic impact.
Filing History
IRS 990 filing history for Damani Foundation Inc showing financial trends over 5 years of public records:
Over 5 years of IRS 990 filings (2019–2023), Damani Foundation Inc's revenue has grown by 0%, moving from $1 to $1. Total assets increased by 787.2% over the same period, from $19K to $171K. Total functional expenses rose by 436.4%, from $11K to $57K. In its most recent filing year (2023), Damani Foundation Inc reported a deficit of $57K, with expenses exceeding revenue. The organization holds $1K in liabilities against $171K in assets (debt-to-asset ratio: 0.6%), resulting in net assets of $170K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1 | $57K | $171K | $1K | — | View 990 |
| 2022 | $250K | $75K | $228K | $1 | — | View 990 |
| 2021 | $317K | $280K | $53K | $30 | — | View 990 |
| 2020 | $1 | $4K | $16K | $30 | — | — |
| 2019 | $1 | $11K | $19K | $1 | — | — |
Year-by-Year Financial Summary
- 2023: Revenue of $1, expenses of $57K, and assets of $171K (revenue -100.0% year-over-year).
- 2022: Revenue of $250K, expenses of $75K, and assets of $228K (revenue -21.1% year-over-year).
- 2021: Revenue of $317K, expenses of $280K, and assets of $53K (revenue +31679900.0% year-over-year).
- 2020: Revenue of $1, expenses of $4K, and assets of $16K (revenue +0.0% year-over-year).
- 2019: Revenue of $1, expenses of $11K, and assets of $19K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Damani Foundation Inc:
Data Sources and Methodology
This transparency report for Damani 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.