Fain Malsky Foundation
Fain Malsky Foundation faces persistent operating deficits despite substantial assets.
EIN: 133474810 · Providence, RI · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $9K |
| Total Expenses | $23K |
| Program Spending | 70% |
| Net Assets | $404K |
| Transparency Score | 45/100 |
Is Fain Malsky Foundation Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Fain Malsky Foundation directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Fain Malsky Foundation
Fain Malsky Foundation (EIN: 133474810) is a nonprofit organization based in Providence, RI. The organization reported total revenue of $9K and total assets of $391K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Fain Malsky Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Fain Malsky Foundation is a micro nonprofit that has been operating for 38 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 | $7K |
| Total Expenses | $23K |
| Surplus / Deficit | $-15,593 |
| Total Assets | $404K |
| Total Liabilities | $1 |
| Net Assets | $404K |
| Operating Margin | -216.7% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 212.6 months |
Financial Health Grade: B
In 2023, Fain Malsky Foundation reported a deficit of $16K with expenses exceeding revenue, holds 212.6 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +38.1% | -10.4% | -3.7% |
| 2022 | -90.7% | +43.2% | -4.6% |
| 2021 | +222.4% | +80.5% | +9.6% |
| 2020 | -85.0% | -50.8% | +1.9% |
| 2019 | +340.3% | +0.2% | +56.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1988 |
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 Fain Malsky Foundation with a Mission Score of 45 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Fain Malsky Foundation allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $16K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating a volunteer-led organization or one with no paid officers, which is positive for minimizing overhead.
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 Fain Malsky Foundation's IRS 990 filings:
- Consistent operating deficits in recent years (e.g., $15,593 loss in 2023, $20,211 loss in 2022).
- Significant decline in revenue from $116,245 in 2019 to $7,196 in 2023.
- Reliance on asset base to cover expenses, indicating potential long-term sustainability issues.
- Lack of detailed functional expense breakdown in filings.
Strengths
The following positive indicators were identified for Fain Malsky Foundation:
- Substantial asset base ($403,688 in 2023) relative to annual revenue.
- Minimal liabilities ($1 in recent years), indicating a healthy balance sheet in terms of debt.
- No reported officer compensation, suggesting a volunteer-driven leadership.
- Consistent filing of IRS Form 990s, indicating transparency in reporting.
Frequently Asked Questions about Fain Malsky Foundation
Is Fain Malsky Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Fain Malsky Foundation (EIN: 133474810) significant concerns. Mission Score: 45/100. 4 red flags identified, 4 strengths noted.
How does Fain Malsky Foundation spend its money?
Fain Malsky Foundation directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Fain Malsky Foundation tax-deductible?
Fain Malsky Foundation is registered as a tax-exempt nonprofit (EIN: 133474810). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Fain Malsky Foundation's spending goes to programs?
Fain Malsky Foundation directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
Where is Fain Malsky Foundation located?
Fain Malsky Foundation is headquartered in Providence, Rhode Island and files with the IRS under EIN 133474810.
How many years of IRS 990 filings does Fain Malsky Foundation have?
Fain Malsky Foundation has 10 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 $9K in total revenue.
Is Fain Malsky Foundation financially sustainable?
The foundation's financial sustainability is questionable given its consistent operating deficits in recent years (e.g., $7,196 revenue vs. $22,789 expenses in 2023). It appears to be drawing down on its asset base to cover expenses, which is not a long-term sustainable model.
What is the primary source of the foundation's revenue?
The 990 data does not provide a detailed breakdown of revenue sources, but the significant fluctuations year-over-year (e.g., $116,245 in 2019 vs. $7,196 in 2023) suggest an inconsistent funding model, possibly reliant on sporadic large donations or investment income.
How does the foundation manage its expenses?
While total expenses are reported, the filings do not provide a detailed functional expense breakdown (program, administrative, fundraising). This lack of detail makes it difficult to assess specific spending efficiency beyond the overall trend of expenses exceeding revenue.
Filing History
IRS 990 filing history for Fain Malsky Foundation showing financial trends over 10 years of public records:
Total assets increased by 89.8% over the same period, from $213K to $404K. Total functional expenses rose by 117.1%, from $10K to $23K. In its most recent filing year (2023), Fain Malsky Foundation reported a deficit of $16K, with expenses exceeding revenue. The organization holds $1 in liabilities against $404K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $404K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $7K | $23K | $404K | $1 | — | — |
| 2022 | $5K | $25K | $419K | $1 | — | View 990 |
| 2021 | $56K | $18K | $439K | $1 | — | — |
| 2020 | $17K | $10K | $401K | $1 | — | — |
| 2019 | $116K | $20K | $393K | $1 | — | View 990 |
| 2015 | $26K | $20K | $252K | $1 | — | View 990 |
| 2014 | $36K | $11K | $246K | $1 | — | View 990 |
| 2013 | $25K | $10K | $221K | $1 | — | View 990 |
| 2012 | $2K | $10K | $205K | $1 | — | View 990 |
| 2011 | $-706 | $10K | $213K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $7K, expenses of $23K, and assets of $404K (revenue +38.1% year-over-year).
- 2022: Revenue of $5K, expenses of $25K, and assets of $419K (revenue -90.7% year-over-year).
- 2021: Revenue of $56K, expenses of $18K, and assets of $439K (revenue +222.4% year-over-year).
- 2020: Revenue of $17K, expenses of $10K, and assets of $401K (revenue -85.0% year-over-year).
- 2019: Revenue of $116K, expenses of $20K, and assets of $393K (revenue +340.3% year-over-year).
- 2015: Revenue of $26K, expenses of $20K, and assets of $252K (revenue -26.2% year-over-year).
- 2014: Revenue of $36K, expenses of $11K, and assets of $246K (revenue +40.5% year-over-year).
- 2013: Revenue of $25K, expenses of $10K, and assets of $221K (revenue +1463.7% year-over-year).
- 2012: Revenue of $2K, expenses of $10K, and assets of $205K.
- 2011: Revenue of $-706, expenses of $10K, and assets of $213K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Fain Malsky Foundation:
Data Sources and Methodology
This transparency report for Fain Malsky 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.