Donald C Brace Foundation C/O Cummings & Lockwood
Donald C Brace Foundation consistently spends more than it earns, drawing down its $18.7 million endowment with no officer compensation.
EIN: 133442680 · South Windsor, CT · Updated: 2026-03-28
Is Donald C Brace Foundation C/O Cummings & Lockwood Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Donald C Brace Foundation C/O Cummings & Lockwood directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Donald C Brace Foundation C/O Cummings & Lockwood
Donald C Brace Foundation C/O Cummings & Lockwood (EIN: 133442680) is a nonprofit organization based in South Windsor, CT. The organization reported total revenue of $3.0M and total assets of $17.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Donald C Brace Foundation C/O Cummings & Lockwood's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Donald C Brace Foundation C/O Cummings & Lockwood 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, Donald C Brace Foundation C/O Cummings & Lockwood 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.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no executives are paid directly by the foundation, which is highly unusual for an organization with assets nearing $19 million and annual expenses exceeding $2 million. This suggests either a volunteer-led executive structure or that executive functions are outsourced and not classified as officer compensation.
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 Donald C Brace Foundation C/O Cummings & Lockwood's IRS 990 filings:
- Consistent expenses exceeding revenue, leading to asset depletion without clear long-term sustainability plan (if not a spend-down foundation)
- Lack of NTEE code and detailed program information in provided data, hindering assessment of mission alignment and impact.
Strengths
The following positive indicators were identified for Donald C Brace Foundation C/O Cummings & Lockwood:
- Zero officer compensation, indicating efficient use of funds for non-executive purposes.
- Minimal liabilities ($0 or $1) across all reported periods, demonstrating strong financial solvency.
- Significant asset base ($18.7 million in 2023) allowing for substantial grant-making activities.
Frequently Asked Questions about Donald C Brace Foundation C/O Cummings & Lockwood
Is Donald C Brace Foundation C/O Cummings & Lockwood a legitimate charity?
Based on AI analysis of IRS 990 filings, Donald C Brace Foundation C/O Cummings & Lockwood (EIN: 133442680) some concerns. Mission Score: 85/100. 2 red flags identified, 3 strengths noted.
How does Donald C Brace Foundation C/O Cummings & Lockwood spend its money?
Donald C Brace Foundation C/O Cummings & Lockwood directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Donald C Brace Foundation C/O Cummings & Lockwood tax-deductible?
Donald C Brace Foundation C/O Cummings & Lockwood is registered as a tax-exempt nonprofit (EIN: 133442680). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What is the specific mission or program area of the Donald C Brace Foundation?
The provided data does not specify the NTEE code or the foundation's specific mission or program areas, making it difficult to assess the impact of its grant-making activities.
How are administrative costs covered if there is no officer compensation?
With 0% officer compensation, administrative functions are likely handled by volunteers, pro bono services, or through contracted services that are not categorized as officer compensation, which would be reflected in other expense lines.
What is the long-term financial strategy given the consistent decline in assets?
The consistent decline in assets from $23.2 million in 2019 to $18.7 million in 2023, coupled with expenses exceeding revenue, suggests a deliberate spend-down strategy for the foundation's endowment.
Filing History
IRS 990 filing history for Donald C Brace Foundation C/O Cummings & Lockwood showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Donald C Brace Foundation C/O Cummings & Lockwood's revenue has grown by 2201.4%, moving from $72K to $1.7M. Total assets increased by 548.1% over the same period, from $2.9M to $18.7M. Total functional expenses rose by 295.7%, from $617K to $2.4M. In its most recent filing year (2023), Donald C Brace Foundation C/O Cummings & Lockwood reported a deficit of $774K, with expenses exceeding revenue. The organization holds $1 in liabilities against $18.7M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $18.7M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $1.7M | $2.4M | $18.7M | $1 | — | View 990 |
| 2022 | $1.3M | $2.5M | $19.5M | $1 | — | View 990 |
| 2021 | $1.6M | $2.9M | $20.7M | $1 | — | View 990 |
| 2020 | $972K | $2.3M | $22.0M | $1 | — | — |
| 2019 | $529K | $1.7M | $23.3M | $0 | — | View 990 |
| 2015 | $9.5M | $474K | $11.9M | $0 | — | View 990 |
| 2014 | $476K | $302K | $3.0M | $0 | — | View 990 |
| 2013 | $224K | $380K | $2.8M | $0 | — | View 990 |
| 2012 | $399K | $346K | $3.0M | $0 | — | View 990 |
| 2011 | $72K | $617K | $2.9M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.7M, expenses of $2.4M, and assets of $18.7M (revenue +24.7% year-over-year).
- 2022: Revenue of $1.3M, expenses of $2.5M, and assets of $19.5M (revenue -17.9% year-over-year).
- 2021: Revenue of $1.6M, expenses of $2.9M, and assets of $20.7M (revenue +67.5% year-over-year).
- 2020: Revenue of $972K, expenses of $2.3M, and assets of $22.0M (revenue +83.7% year-over-year).
- 2019: Revenue of $529K, expenses of $1.7M, and assets of $23.3M (revenue -94.4% year-over-year).
- 2015: Revenue of $9.5M, expenses of $474K, and assets of $11.9M (revenue +1887.6% year-over-year).
- 2014: Revenue of $476K, expenses of $302K, and assets of $3.0M (revenue +112.0% year-over-year).
- 2013: Revenue of $224K, expenses of $380K, and assets of $2.8M (revenue -43.7% year-over-year).
- 2012: Revenue of $399K, expenses of $346K, and assets of $3.0M (revenue +450.4% year-over-year).
- 2011: Revenue of $72K, expenses of $617K, and assets of $2.9M.
Data Sources and Methodology
This transparency report for Donald C Brace Foundation C/O Cummings & Lockwood 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.