Fb Foundation
Fb Foundation faces significant financial instability with consistent deficits and growing liabilities.
EIN: 203997779 · North Charleston, SC · NTEE: P20 · Updated: 2026-03-28
About Fb Foundation
Fb Foundation (EIN: 203997779) is a nonprofit organization based in North Charleston, SC, classified under NTEE code P20. The organization reported total revenue of $27K and total assets of $11K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Fb Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Fb 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, Fb Foundation allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, which is commendable for an organization of this size and suggests resources are not being diverted to high salaries.
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 Fb Foundation's IRS 990 filings:
- Consistent operating deficits (expenses exceeding revenue) in recent years, e.g., $132,533 expenses vs. $103,300 revenue in 2023.
- Rapid and significant increase in liabilities, from $0 in 2019 to $162,201 in 2023.
- Negative net asset position, with liabilities far exceeding assets ($162,201 vs. $29,288 in 2023).
- Declining assets in recent periods, from $189,625 in 2021 to $29,288 in 2023.
Strengths
The following positive indicators were identified for Fb Foundation:
- No reported officer compensation, indicating that executive pay is not a drain on resources.
Frequently Asked Questions about Fb Foundation
Is Fb Foundation financially sustainable?
Based on the consistent trend of expenses exceeding revenue and the growing liabilities, the organization's financial sustainability is highly questionable. In 2023, liabilities were $162,201 against assets of $29,288, indicating a significant negative net asset position.
What caused the significant increase in liabilities?
Liabilities have dramatically increased from $0 in 2019 to $162,201 in 2023. This rapid accumulation, especially in conjunction with declining assets, suggests the organization is operating at a substantial deficit and potentially incurring debt to cover operational costs.
How does the organization plan to address its negative net asset position?
With assets of $29,288 and liabilities of $162,201 in 2023, the organization has a significant negative net asset position. The filings do not provide a plan, but this is a critical area for donors to inquire about.
Filing History
IRS 990 filing history for Fb Foundation showing financial trends over 6 years of public records:
Over 6 years of IRS 990 filings (2018–2023), Fb Foundation's revenue has grown by 61.4%, moving from $64K to $103K. Total assets increased by 633.7% over the same period, from $4K to $29K. Total functional expenses rose by 120.1%, from $60K to $133K. In its most recent filing year (2023), Fb Foundation reported a deficit of $29K, with expenses exceeding revenue. The organization holds $162K in liabilities against $29K in assets (debt-to-asset ratio: 553.8%), resulting in net assets of $-132,913.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $103K | $133K | $29K | $162K | — | View 990 |
| 2022 | $57K | $186K | $59K | $159K | — | View 990 |
| 2021 | $62K | $77K | $190K | $161K | — | View 990 |
| 2020 | $90K | $92K | $11K | $4K | — | — |
| 2019 | $194K | $188K | $10K | $0 | — | View 990 |
| 2018 | $64K | $60K | $4K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $103K, expenses of $133K, and assets of $29K (revenue +80.9% year-over-year).
- 2022: Revenue of $57K, expenses of $186K, and assets of $59K (revenue -7.9% year-over-year).
- 2021: Revenue of $62K, expenses of $77K, and assets of $190K (revenue -30.9% year-over-year).
- 2020: Revenue of $90K, expenses of $92K, and assets of $11K (revenue -53.7% year-over-year).
- 2019: Revenue of $194K, expenses of $188K, and assets of $10K (revenue +202.6% year-over-year).
- 2018: Revenue of $64K, expenses of $60K, and assets of $4K.
Data Sources and Methodology
This transparency report for Fb 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.