Drake Family Foundation
Drake Family Foundation maintains strong asset base and zero liabilities with no officer compensation.
EIN: 203501275 · Williamsburg, VA · NTEE: T22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $92K |
| Total Expenses | $20K |
| Program Spending | 90% |
| Net Assets | $377K |
| Transparency Score | 95/100 |
Is Drake Family Foundation Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Drake Family Foundation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Drake Family Foundation
Drake Family Foundation (EIN: 203501275) is a nonprofit organization based in Williamsburg, VA, classified under NTEE code T22. The organization reported total revenue of $92K and total assets of $377K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Drake Family Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Drake Family Foundation is a micro nonprofit that has been operating for 21 years, with 7 years of IRS 990 filings on record (2011–2020). Revenue has grown at a compound annual rate of 21.4%.
Key Financial Metrics (2020)
From the most recent IRS 990 filing on record:
| Total Revenue | $92K |
| Total Expenses | $20K |
| Surplus / Deficit | +$73K |
| Total Assets | $377K |
| Net Assets | $377K |
| Operating Margin | 78.9% |
| Months of Reserves | 232.2 months |
Financial Health Grade: A
In 2020, Drake Family Foundation reported a surplus of $73K with revenue exceeding expenses, holds 232.2 months of operating reserves (strong position).
Financial Trends
Over 7 years of filings (2011–2020), Drake Family Foundation's revenue has grown at a compound annual growth rate (CAGR) of 21.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2020 | +323.3% | +7.9% | +2.4% |
| 2016 | +2.1% | -4.4% | -0.7% |
| 2015 | -6.9% | -16.6% | -12.7% |
| 2014 | +5.8% | +1.3% | +0.6% |
| 2013 | +11.9% | +14.0% | +10.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2005 |
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 Drake Family Foundation with a Mission Score of 95 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, Drake 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 (2020)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $73K, with revenue exceeding expenses.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that no officers or executives receive salaries from the organization. This suggests a volunteer-led structure or that compensation is covered by other means, allowing all revenue to be directed towards the foundation's mission or retained.
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.
Strengths
The following positive indicators were identified for Drake Family Foundation:
- Consistently reports 0% officer compensation, maximizing funds for mission.
- Zero liabilities across all reported periods, indicating strong financial health.
- Significant asset base ($377,282 in 202006) relative to its operational expenses.
- Substantial increase in revenue in the latest filing ($92,428 in 202006), enhancing capacity.
- Low expenses relative to revenue in the latest period ($19,500 expenses vs. $92,428 revenue in 202006), suggesting high efficiency.
Frequently Asked Questions about Drake Family Foundation
Is Drake Family Foundation a legitimate charity?
Drake Family Foundation (EIN: 203501275) is a registered tax-exempt nonprofit based in Virginia. Our AI analysis gives it a Mission Score of 95/100. It has 7 years of IRS 990 filings on record. Total revenue: $92K. No red flags identified. 5 strengths noted. Financial health grade: A.
How does Drake Family Foundation spend its money?
Drake Family Foundation directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Drake Family Foundation tax-deductible?
Drake Family Foundation is registered as a tax-exempt nonprofit (EIN: 203501275). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Drake Family Foundation compare to similar nonprofits?
With a transparency score of 95/100 (Excellent), Drake Family Foundation is above average for NTEE category T22 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Drake Family Foundation located?
Drake Family Foundation is headquartered in Williamsburg, Virginia and files with the IRS under EIN 203501275. It is classified under NTEE code T22.
How many years of IRS 990 filings does Drake Family Foundation have?
Drake Family Foundation has 7 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 $92K in total revenue.
Is the Drake Family Foundation a good charity?
Based on the available IRS 990 data, the Drake Family Foundation appears to be a very good charity from a financial perspective. It has a strong asset base ($377,282 in 202006), no liabilities, and consistently reports 0% officer compensation, meaning funds are not used for executive salaries. Its expenses are low relative to its revenue, especially in the latest period ($19,500 expenses vs. $92,428 revenue in 202006), suggesting efficient use of resources.
What is the primary activity of the Drake Family Foundation?
Given its NTEE code T22 (Private Grantmaking Foundations) and the financial structure (low expenses, no officer compensation, significant assets), its primary activity is likely making grants to other organizations or individuals in line with its philanthropic mission, rather than directly operating programs.
How has the foundation's revenue trended over time?
The foundation's revenue has shown a significant increase in its latest filing (202006) to $92,428, compared to a relatively stable range of $16,096 to $22,969 in previous periods (201106-201606). This indicates a substantial positive change in its funding capacity.
Filing History
IRS 990 filing history for Drake Family Foundation showing financial trends over 7 years of public records:
Over 7 years of IRS 990 filings (2011–2020), Drake Family Foundation's revenue has grown by 474.2%, moving from $16K to $92K. Total assets decreased by 7.6% over the same period, from $408K to $377K. Total functional expenses fell by 6.4%, from $21K to $20K. In its most recent filing year (2020), Drake Family Foundation reported a surplus of $73K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2020 | $92K | $20K | $377K | $0 | — | View 990 |
| 2016 | $22K | $18K | $369K | $0 | — | View 990 |
| 2015 | $21K | $19K | $371K | $0 | — | View 990 |
| 2014 | $23K | $23K | $425K | $0 | — | View 990 |
| 2013 | $22K | $22K | $423K | $0 | — | View 990 |
| 2012 | $19K | $20K | $382K | $0 | — | View 990 |
| 2011 | $16K | $21K | $408K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2020: Revenue of $92K, expenses of $20K, and assets of $377K (revenue +323.3% year-over-year).
- 2016: Revenue of $22K, expenses of $18K, and assets of $369K (revenue +2.1% year-over-year).
- 2015: Revenue of $21K, expenses of $19K, and assets of $371K (revenue -6.9% year-over-year).
- 2014: Revenue of $23K, expenses of $23K, and assets of $425K (revenue +5.8% year-over-year).
- 2013: Revenue of $22K, expenses of $22K, and assets of $423K (revenue +11.9% year-over-year).
- 2012: Revenue of $19K, expenses of $20K, and assets of $382K (revenue +20.5% year-over-year).
- 2011: Revenue of $16K, expenses of $21K, and assets of $408K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Drake Family Foundation:
Data Sources and Methodology
This transparency report for Drake 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.