Fm Foundation
Fm Foundation: Volatile Revenue, High Administrative Costs
EIN: 222773230 · Johnston, RI · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $1.0M |
| Total Expenses | $6.5M |
| Program Spending | 50% |
| CEO/Top Officer Pay | $0 |
| Net Assets | $24.0M |
| Transparency Score | 65/100 |
Is Fm Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Fm Foundation directs 50% of its spending to programs. This falls below the 65% benchmark. Donors may want to investigate further.
About Fm Foundation
Fm Foundation (EIN: 222773230) is a nonprofit organization based in Johnston, RI. The organization reported total revenue of $1.0M and total assets of $16.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Fm Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Fm Foundation is a mid-size nonprofit that has been operating for 39 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 | $198K |
| Total Expenses | $6.5M |
| Surplus / Deficit | $-6,346,079 |
| Total Assets | $24.0M |
| Total Liabilities | $1 |
| Net Assets | $24.0M |
| Operating Margin | -3209.1% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 44.0 months |
Financial Health Grade: B
In 2023, Fm Foundation reported a deficit of $6.3M with expenses exceeding revenue, holds 44.0 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 | +413.9% | -10.8% | -20.9% |
| 2022 | -99.9% | +6.7% | -19.4% |
| 2021 | +204.2% | -11.6% | +168.4% |
| 2020 | +2567.6% | +54.7% | +19.1% |
| 2019 | +693.6% | +14.2% | -8.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1987 |
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 Fm Foundation with a Mission Score of 65 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: 40%
- programs: 50%
- fundraising: 10%
According to IRS 990 filings, Fm Foundation allocates its expenses as follows: admin: 40%, programs: 50%, fundraising: 10%. Approximately 50% 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 $6.3M, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is consistently reported as $0 across all available filings, suggesting either a fully volunteer-led organization or that compensation is not disclosed in a standard format within the provided data.
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 Fm Foundation's IRS 990 filings:
- Expenses ($6,543,832 in 2023) significantly outstrip revenue ($197,753 in 2023), raising concerns about financial sustainability.
- The dramatic swings in revenue, from $30,490,175 in 2021 to $197,753 in 2023, indicate an unstable funding model.
- The consistent reporting of 0% compensation for leadership (c0%) across all years may obscure actual operational costs or indicate an unusual staffing model.
Strengths
The following positive indicators were identified for Fm Foundation:
- The foundation maintains substantial assets, with $23,991,621 in 2023, providing a buffer despite revenue volatility.
- The organization has a long operational history, with filings dating back to 2013, suggesting resilience.
Frequently Asked Questions about Fm Foundation
Is Fm Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Fm Foundation (EIN: 222773230) some concerns. Mission Score: 65/100. 3 red flags identified, 2 strengths noted.
How does Fm Foundation spend its money?
Fm Foundation directs 50% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Fm Foundation tax-deductible?
Fm Foundation is registered as a tax-exempt nonprofit (EIN: 222773230). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Fm Foundation CEO make?
Fm Foundation's highest-compensated officer earns $0 annually. The organization reported $1.0M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Fm Foundation's spending goes to programs?
Fm Foundation directs 50% to programs, 10% to fundraising. This falls below the 65% industry benchmark, which may warrant further review by donors.
Where is Fm Foundation located?
Fm Foundation is headquartered in Johnston, Rhode Island and files with the IRS under EIN 222773230.
How many years of IRS 990 filings does Fm Foundation have?
Fm 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 $1.0M in total revenue.
What does Fm Foundation do?
Fm Foundation is a nonprofit organization in the Unknown sector, located in Johnston, Rhode Island. It is classified under NTEE code Unknown.
How much revenue does Fm Foundation have?
Fm Foundation reported total revenue of $1,026,424. Based on 10 IRS 990 filings on record.
What are Fm Foundation's total assets?
Fm Foundation holds total assets of $16,817,641 as reported in IRS 990 filings.
Where is Fm Foundation located?
Fm Foundation is based in Johnston, Rhode Island.
What is Fm Foundation's EIN?
Fm Foundation's Employer Identification Number (EIN) is 222773230. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Fm Foundation?
Fm Foundation is classified under NTEE code Unknown (Unknown).
Is Fm Foundation a registered 501(c)(3)?
Fm Foundation appears in IRS records (EIN: 222773230). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Fm Foundation file IRS Form 990?
Yes, Fm Foundation has 10 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Fm Foundation's revenue in 2023?
In the 202312 filing period, Fm Foundation reported total revenue of $197,753, total expenses of $6,543,832, and net assets of $23,991,621.
Is Fm Foundation's revenue growing or declining?
Fm Foundation's revenue is growing. Revenue went from $38,482 (202212) to $197,753 (202312), a +413.9% change. Based on 10 filings on record.
What is Fm Foundation's most recent 990 filing?
The most recent IRS Form 990 filing for Fm Foundation covers tax period 202312. It shows revenue of $197,753, expenses of $6,543,832, total assets of $23,991,621, and liabilities of $1.
How much does Fm Foundation spend on programs vs administration?
Based on IRS 990 analysis, Fm Foundation allocates approximately 50% of expenses to program services, 40% to administrative costs, and 10% to fundraising. Program spending is moderate relative to overhead.
Is Fm Foundation a trustworthy charity?
Based on AI analysis of IRS 990 data, Fm Foundation shows mixed signals. Mission Score: 65/100 (Good). 3 red flags identified. 2 strengths noted.
What are the red flags for Fm Foundation?
The following concerns were identified: Expenses ($6,543,832 in 2023) significantly outstrip revenue ($197,753 in 2023), raising concerns about financial sustainability.. The dramatic swings in revenue, from $30,490,175 in 2021 to $197,753 in 2023, indicate an unstable funding model.. The consistent reporting of 0% compensation for leadership (c0%) across all years may obscure actual operational costs or indicate an unusual staffing model.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Fm Foundation's strengths?
Positive indicators for Fm Foundation include: The foundation maintains substantial assets, with $23,991,621 in 2023, providing a buffer despite revenue volatility.. The organization has a long operational history, with filings dating back to 2013, suggesting resilience.. These findings are derived from AI analysis of the organization's financial filings.
How does Fm Foundation compensate executives?
Executive compensation is consistently reported as $0 across all available filings, suggesting either a fully volunteer-led organization or that compensation is not disclosed in a standard format within the provided data. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the consistent reporting of 0% compensation for leadership, how does the organization manage its operational and strategic leadership functions?
The data suggests either a fully volunteer-driven leadership model or that compensation is handled through non-standard reporting mechanisms, which warrants further investigation into their operational structure.
What is the primary cause of the extreme revenue volatility observed, and what strategies are in place to mitigate this financial instability?
The provided data does not specify the revenue sources, but the swings from $30M to under $200K suggest reliance on large, infrequent grants or investments, or significant divestments, without clear mitigation strategies evident in the filings.
Filing History
IRS 990 filing history for Fm Foundation showing financial trends over 10 years of public records:
Total assets increased by 160.1% over the same period, from $9.2M to $24.0M. Total functional expenses rose by 68.1%, from $3.9M to $6.5M. In its most recent filing year (2023), Fm Foundation reported a deficit of $6.3M, with expenses exceeding revenue. The organization holds $1 in liabilities against $24.0M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $24.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $198K | $6.5M | $24.0M | $1 | — | — |
| 2022 | $38K | $7.3M | $30.3M | $1 | — | View 990 |
| 2021 | $30.5M | $6.9M | $37.6M | $1 | — | View 990 |
| 2020 | $10.0M | $7.8M | $14.0M | $1 | — | View 990 |
| 2019 | $376K | $5.0M | $11.8M | $0 | — | View 990 |
| 2015 | $47K | $4.4M | $12.8M | $0 | — | View 990 |
| 2014 | $49K | $4.3M | $17.2M | $0 | — | View 990 |
| 2013 | $20.3M | $4.6M | $21.4M | $0 | — | View 990 |
| 2012 | $50K | $3.5M | $5.8M | $0 | — | View 990 |
| 2011 | $-59,659 | $3.9M | $9.2M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $198K, expenses of $6.5M, and assets of $24.0M (revenue +413.9% year-over-year).
- 2022: Revenue of $38K, expenses of $7.3M, and assets of $30.3M (revenue -99.9% year-over-year).
- 2021: Revenue of $30.5M, expenses of $6.9M, and assets of $37.6M (revenue +204.2% year-over-year).
- 2020: Revenue of $10.0M, expenses of $7.8M, and assets of $14.0M (revenue +2567.6% year-over-year).
- 2019: Revenue of $376K, expenses of $5.0M, and assets of $11.8M (revenue +693.6% year-over-year).
- 2015: Revenue of $47K, expenses of $4.4M, and assets of $12.8M (revenue -3.5% year-over-year).
- 2014: Revenue of $49K, expenses of $4.3M, and assets of $17.2M (revenue -99.8% year-over-year).
- 2013: Revenue of $20.3M, expenses of $4.6M, and assets of $21.4M (revenue +40752.4% year-over-year).
- 2012: Revenue of $50K, expenses of $3.5M, and assets of $5.8M.
- 2011: Revenue of $-59,659, expenses of $3.9M, and assets of $9.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Fm Foundation:
Data Sources and Methodology
This transparency report for Fm 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.