Faye And Michael Richardson Charitable Richardson J Michael Tte

Faye And Michael Richardson Charitable Trust operates with substantial assets but minimal to negative revenue, distributing funds from its endowment.

EIN: 137044993 · Lyme, CT · Updated: 2026-03-28

$0Revenue

$0Assets

70/100Mission Score (Good)

About Faye And Michael Richardson Charitable Richardson J Michael Tte

Faye And Michael Richardson Charitable Richardson J Michael Tte (EIN: 137044993) is a nonprofit organization based in Lyme, 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 Faye And Michael Richardson Charitable Richardson J Michael Tte's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

The Faye And Michael Richardson Charitable Richardson J Michael Tte appears to be a private foundation, given its consistent asset base and lack of public revenue. Over the past five years, the organization has consistently reported negative or very low revenue, with the latest filing showing $0 revenue. Despite this, it has maintained a significant asset base, ranging from $1.99 million in 2016 to $2.83 million in 2012. Expenses have fluctuated but remained substantial, peaking at $233,686 in 2016. The organization's financial health is stable due to its substantial assets, but its operational model, characterized by minimal or negative revenue and consistent expenses, suggests it primarily functions by distributing from its endowment rather than actively fundraising or generating program service revenue. The consistent reporting of $1 in liabilities across all filings is unusual and might indicate a simplified reporting practice for a private foundation.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Faye And Michael Richardson Charitable Richardson J Michael Tte with a Mission Score of 70 out of 100 (Good). 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, Faye And Michael Richardson Charitable Richardson J Michael Tte 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

Executive compensation has consistently been reported as 0% of expenses across all available filings, indicating that no officers or key employees are receiving salaries from the organization. This is common for smaller private foundations where trustees may serve in a voluntary capacity.

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 Faye And Michael Richardson Charitable Richardson J Michael Tte's IRS 990 filings:

Consistent negative or near-zero revenue, indicating no public support or significant investment losses in some years.
NTEE Code is unknown, which limits understanding of its specific charitable focus without further investigation.

Strengths

The following positive indicators were identified for Faye And Michael Richardson Charitable Richardson J Michael Tte:

Substantial and stable asset base, ranging from $1.99 million to $2.83 million, providing long-term financial stability.
Zero officer compensation, indicating that leadership serves on a voluntary basis, which can maximize funds for charitable purposes.
Low administrative overhead, as implied by the nature of a private foundation primarily distributing grants.

Frequently Asked Questions about Faye And Michael Richardson Charitable Richardson J Michael Tte

What are the specific programs or grants funded by the Faye And Michael Richardson Charitable Trust?

The provided data does not detail the specific programs or grants funded by the organization. Further investigation into the full IRS 990-PF filings would be necessary to understand its charitable distributions.

Why does the organization consistently report negative or very low revenue?

As a private foundation, its 'revenue' might primarily consist of investment income, which can fluctuate. Negative revenue, as seen in 2016 ($-45,350) and 2013 ($-10,484), could indicate investment losses or significant expenses offsetting minimal income in those periods. It's not actively fundraising for public support.

What is the nature of the $1 liability consistently reported?

The consistent reporting of $1 in liabilities is highly unusual and likely a placeholder or a simplified reporting convention for a private foundation, rather than a true reflection of its financial obligations. It suggests minimal operational debt.

Filing History

IRS 990 filing history for Faye And Michael Richardson Charitable Richardson J Michael Tte showing financial trends over 5 years of public records:

Over 5 years of IRS 990 filings (2012–2016), Faye And Michael Richardson Charitable Richardson J Michael Tte's revenue has declined by 212.6%, moving from $40K to $-45,350. Total assets decreased by 29.7% over the same period, from $2.8M to $2.0M. Total functional expenses rose by 54.9%, from $151K to $234K. The organization holds $1 in liabilities against $2.0M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $2.0M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2016	$-45,350	$234K	$2.0M	$1	—	View 990
2015	$66K	$228K	$2.3M	$1	—	View 990
2014	$38K	$207K	$2.4M	$1	—	View 990
2013	$-10,484	$218K	$2.6M	$1	—	View 990
2012	$40K	$151K	$2.8M	$1	—	View 990

Year-by-Year Financial Summary

2016: Revenue of $-45,350, expenses of $234K, and assets of $2.0M (revenue -168.9% year-over-year).
2015: Revenue of $66K, expenses of $228K, and assets of $2.3M (revenue +74.8% year-over-year).
2014: Revenue of $38K, expenses of $207K, and assets of $2.4M.
2013: Revenue of $-10,484, expenses of $218K, and assets of $2.6M (revenue -126.0% year-over-year).
2012: Revenue of $40K, expenses of $151K, and assets of $2.8M.

Data Sources and Methodology

This transparency report for Faye And Michael Richardson Charitable Richardson J Michael Tte 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.