F B Heron Foundation
F B Heron Foundation shows fluctuating annual financial performance but maintains strong asset base and zero officer compensation.
EIN: 133647019 · New Haven, CT · Updated: 2026-03-28
Is F B Heron Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
F B Heron Foundation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About F B Heron Foundation
F B Heron Foundation (EIN: 133647019) is a nonprofit organization based in New Haven, CT. The organization reported total revenue of $78.4M and total assets of $349.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of F B Heron Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
F B Heron Foundation is a major nonprofit that has been operating for 34 years, with 10 years of IRS 990 filings on record (2011–2023).
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $8.4M |
| Total Expenses | $24.9M |
| Surplus / Deficit | $-16,525,991 |
| Total Assets | $326.9M |
| Total Liabilities | $1.4M |
| Net Assets | $325.5M |
| Operating Margin | -197.0% |
| Debt-to-Asset Ratio | 0.4% |
| Months of Reserves | 157.4 months |
Financial Health Grade: B
In 2023, F B Heron Foundation reported a deficit of $16.5M with expenses exceeding revenue, holds 157.4 months of operating reserves (strong position), has a debt-to-asset ratio of 0.4% (very low leverage).
Financial Trends
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -75.2% | -31.5% | +4.8% |
| 2022 | +19.4% | +132.8% | -24.4% |
| 2021 | -39.5% | -8.3% | +14.5% |
| 2020 | +272.7% | +33.4% | +8.5% |
| 2019 | +30.0% | +7.6% | +21.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1992 |
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 F B Heron Foundation with a Mission Score of 90 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, F B Heron 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 (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $16.5M, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.4%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers received compensation directly from the organization. This is highly unusual for an organization with assets exceeding $300 million and suggests a strong commitment to directing funds towards its mission.
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 F B Heron Foundation's IRS 990 filings:
- Significant operating deficits in recent years (e.g., 2023 expenses of $24.9M vs. revenue of $8.39M)
- Unusually high fluctuation in annual revenue and expenses, making year-over-year comparisons challenging without context.
Strengths
The following positive indicators were identified for F B Heron Foundation:
- Consistent reporting of 0% officer compensation, indicating high efficiency in executive spending.
- Robust and stable asset base, exceeding $300 million, providing long-term financial security.
- Strong program focus, as implied by the lack of reported fundraising expenses and zero officer compensation, suggesting resources are directed to mission.
Frequently Asked Questions about F B Heron Foundation
Is F B Heron Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, F B Heron Foundation (EIN: 133647019) some concerns. Mission Score: 90/100. 2 red flags identified, 3 strengths noted.
How does F B Heron Foundation spend its money?
F B Heron Foundation directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to F B Heron Foundation tax-deductible?
F B Heron Foundation is registered as a tax-exempt nonprofit (EIN: 133647019). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is the F B Heron Foundation financially stable given its fluctuating revenue and expenses?
While the foundation experiences significant year-to-year fluctuations in revenue and expenses, its substantial asset base, reported at $326,924,230 in 2023, suggests long-term financial stability. The deficits in some years appear to be managed by its overall endowment.
How does the F B Heron Foundation fund its operations with 0% officer compensation?
The 0% officer compensation suggests that executive leadership may be compensated through other means (e.g., a related entity) or serve in a purely voluntary capacity. This practice, while indicating a strong commitment to mission, warrants further investigation for a complete understanding of operational costs.
What is the primary source of the F B Heron Foundation's revenue?
Given the nature of a foundation and the fluctuating revenue figures, it is highly probable that investment returns from its substantial asset base are a primary source of revenue, alongside potential grants or contributions. Specific details would require deeper analysis of the full 990 forms.
Filing History
IRS 990 filing history for F B Heron Foundation showing financial trends over 10 years of public records:
Total assets increased by 35.9% over the same period, from $240.5M to $326.9M. Total functional expenses rose by 159.7%, from $9.6M to $24.9M. In its most recent filing year (2023), F B Heron Foundation reported a deficit of $16.5M, with expenses exceeding revenue. The organization holds $1.4M in liabilities against $326.9M in assets (debt-to-asset ratio: 0.4%), resulting in net assets of $325.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $8.4M | $24.9M | $326.9M | $1.4M | — | — |
| 2022 | $33.8M | $36.3M | $311.9M | $1.6M | — | View 990 |
| 2021 | $28.3M | $15.6M | $412.8M | $2.9M | — | View 990 |
| 2020 | $46.8M | $17.0M | $360.7M | $2.8M | — | View 990 |
| 2019 | $12.5M | $12.8M | $332.4M | $1.9M | — | View 990 |
| 2015 | $9.7M | $11.9M | $273.7M | $967K | — | View 990 |
| 2014 | $31.5M | $14.8M | $288.7M | $1.3M | — | View 990 |
| 2013 | $20.6M | $10.1M | $291.6M | $1.7M | — | View 990 |
| 2012 | $15.7M | $9.3M | $260.5M | $2.7M | — | View 990 |
| 2011 | $-1,566,409 | $9.6M | $240.5M | $1.7M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $8.4M, expenses of $24.9M, and assets of $326.9M (revenue -75.2% year-over-year).
- 2022: Revenue of $33.8M, expenses of $36.3M, and assets of $311.9M (revenue +19.4% year-over-year).
- 2021: Revenue of $28.3M, expenses of $15.6M, and assets of $412.8M (revenue -39.5% year-over-year).
- 2020: Revenue of $46.8M, expenses of $17.0M, and assets of $360.7M (revenue +272.7% year-over-year).
- 2019: Revenue of $12.5M, expenses of $12.8M, and assets of $332.4M (revenue +30.0% year-over-year).
- 2015: Revenue of $9.7M, expenses of $11.9M, and assets of $273.7M (revenue -69.3% year-over-year).
- 2014: Revenue of $31.5M, expenses of $14.8M, and assets of $288.7M (revenue +52.9% year-over-year).
- 2013: Revenue of $20.6M, expenses of $10.1M, and assets of $291.6M (revenue +31.1% year-over-year).
- 2012: Revenue of $15.7M, expenses of $9.3M, and assets of $260.5M.
- 2011: Revenue of $-1,566,409, expenses of $9.6M, and assets of $240.5M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for F B Heron Foundation:
Data Sources and Methodology
This transparency report for F B Heron 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.