Farid Foundation
Farid Foundation reports zero revenue and assets in latest filing, following years of deficit spending.
EIN: 203096696 · Wallingford, CT · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Expenses | $585K |
| Program Spending | 70% |
| Net Assets | $-10,321 |
| Transparency Score | 20/100 |
Is Farid Foundation Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Farid Foundation directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Farid Foundation
Farid Foundation (EIN: 203096696) is a nonprofit organization based in Wallingford, CT. The organization reported total revenue of $0 and total assets of $0 according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Farid Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Farid Foundation is a small nonprofit, with 5 years of IRS 990 filings on record (2011–2015). Revenue has grown at a compound annual rate of -21.7%.
Key Financial Metrics (2015)
From the most recent IRS 990 filing on record:
| Total Revenue | $146K |
| Total Expenses | $585K |
| Surplus / Deficit | $-439,618 |
| Total Assets | $305 |
| Total Liabilities | $11K |
| Net Assets | $-10,321 |
| Operating Margin | -301.6% |
| Debt-to-Asset Ratio | 3483.9% |
| Months of Reserves | 0.0 months |
Financial Health Grade: D
In 2015, Farid Foundation reported a deficit of $440K with expenses exceeding revenue, holds 0.0 months of operating reserves (limited), has a debt-to-asset ratio of 3483.9% (high leverage).
Financial Trends
Over 5 years of filings (2011–2015), Farid Foundation's revenue has declined at a compound annual growth rate (CAGR) of -21.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2015 | +71.5% | +146.0% | -99.9% |
| 2014 | -65.5% | -32.8% | -3.7% |
| 2013 | -63.3% | -53.2% | -15.4% |
| 2012 | +73.2% | +83.7% | -10.9% |
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Farid Foundation with a Mission Score of 20 out of 100 (Poor). 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, Farid Foundation allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2015)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $440K, with expenses exceeding revenue.
- Debt-to-asset ratio: 3483.9%.
Executive Compensation Analysis
Officer compensation has consistently been reported as 0% across all available filings, indicating that no salaries were paid to executives, which is a positive for resource allocation.
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 Farid Foundation's IRS 990 filings:
- Zero revenue and assets in the latest filing, indicating potential dormancy or cessation of operations.
- Consistent deficit spending across multiple years (e.g., $585,357 expenses vs. $145,739 revenue in 2015).
- Significant decline in assets from $773,941 in 2011 to $0 in the latest period.
Strengths
The following positive indicators were identified for Farid Foundation:
- No reported officer compensation across all filings, indicating efficient use of funds in that area.
Frequently Asked Questions about Farid Foundation
Is Farid Foundation a legitimate charity?
Farid Foundation (EIN: 203096696) is a registered tax-exempt nonprofit based in Connecticut. Our AI analysis gives it a Mission Score of 20/100. It has 5 years of IRS 990 filings on record. 3 red flags identified. 1 strength noted. Financial health grade: D.
How does Farid Foundation spend its money?
Farid Foundation directs 70% of its spending to programs and services. Fundraising costs 10%. This meets the 65% industry benchmark.
Are donations to Farid Foundation tax-deductible?
Farid Foundation is registered as a tax-exempt nonprofit (EIN: 203096696). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Farid Foundation's spending goes to programs?
Farid Foundation directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
Where is Farid Foundation located?
Farid Foundation is headquartered in Wallingford, Connecticut and files with the IRS under EIN 203096696.
How many years of IRS 990 filings does Farid Foundation have?
Farid Foundation has 5 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends.
Is Farid Foundation still operational?
Based on the latest filing showing $0 revenue and $0 assets, it is highly probable that the Farid Foundation is no longer operational or is dormant.
Why did the organization consistently spend more than it earned?
The provided data does not offer specific reasons for the consistent deficit spending, such as expenses of $585,357 against $145,739 revenue in 2015. This pattern suggests unsustainable financial management or a reliance on reserves that have since been depleted.
What happened to the assets reported in previous years?
Assets declined significantly from $773,941 in 2011 to $305 in 2015, and are now reported as $0. The filings do not specify how these assets were utilized or depleted.
Filing History
IRS 990 filing history for Farid Foundation showing financial trends over 5 years of public records:
Over 5 years of IRS 990 filings (2011–2015), Farid Foundation's revenue has declined by 62.5%, moving from $388K to $146K. Total assets decreased by 100% over the same period, from $774K to $305. Total functional expenses rose by 42.1%, from $412K to $585K. In its most recent filing year (2015), Farid Foundation reported a deficit of $440K, with expenses exceeding revenue. The organization holds $11K in liabilities against $305 in assets (debt-to-asset ratio: 3483.9%), resulting in net assets of $-10,321.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2015 | $146K | $585K | $305 | $11K | — | View 990 |
| 2014 | $85K | $238K | $562K | $133K | — | View 990 |
| 2013 | $247K | $354K | $583K | $1K | — | View 990 |
| 2012 | $673K | $757K | $690K | $0 | — | View 990 |
| 2011 | $388K | $412K | $774K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2015: Revenue of $146K, expenses of $585K, and assets of $305 (revenue +71.5% year-over-year).
- 2014: Revenue of $85K, expenses of $238K, and assets of $562K (revenue -65.5% year-over-year).
- 2013: Revenue of $247K, expenses of $354K, and assets of $583K (revenue -63.3% year-over-year).
- 2012: Revenue of $673K, expenses of $757K, and assets of $690K (revenue +73.2% year-over-year).
- 2011: Revenue of $388K, expenses of $412K, and assets of $774K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Farid Foundation:
Data Sources and Methodology
This transparency report for Farid 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.