Fogarty Institute For Innovation
Fogarty Institute For Innovation experiences volatile revenue and expenses while maintaining zero reported officer compensation.
EIN: 113800306 · Mountain View, CA · NTEE: H92 · Updated: 2026-03-28
Is Fogarty Institute For Innovation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Fogarty Institute For Innovation directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Fogarty Institute For Innovation
Fogarty Institute For Innovation (EIN: 113800306) is a nonprofit organization based in Mountain View, CA, classified under NTEE code H92. The organization reported total revenue of $2.9M and total assets of $14.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Fogarty Institute For Innovation'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 Fogarty Institute For Innovation with a Mission Score of 75 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Fogarty Institute For Innovation allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, which is highly unusual for an organization with annual expenses often exceeding several million dollars. This suggests either a fully volunteer-led executive team or that compensation is structured in a way not captured under 'officer compensation' on the 990.
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 Fogarty Institute For Innovation's IRS 990 filings:
- Consistent 0% reported officer compensation, which is highly unusual for an organization of this scale and could indicate a lack of transparency in leadership compensation.
- Significant year-over-year revenue volatility, such as the drop from $12.6M in 2022 to $2.9M in 2023, which can make financial planning challenging.
- Expenses ($7,630,781 in 2023) significantly exceeding revenue ($2,939,436 in 2023), indicating reliance on prior year surpluses or asset drawdowns.
Strengths
The following positive indicators were identified for Fogarty Institute For Innovation:
- Strong asset growth, from $5.9M in 2019 to $21.3M in 2023, indicating effective asset management or significant capital infusions.
- Apparent commitment to program spending, given the lack of reported officer compensation, suggesting resources are directed towards the mission.
Frequently Asked Questions about Fogarty Institute For Innovation
Is Fogarty Institute For Innovation a legitimate charity?
Based on AI analysis of IRS 990 filings, Fogarty Institute For Innovation (EIN: 113800306) some concerns. Mission Score: 75/100. 3 red flags identified, 2 strengths noted.
How does Fogarty Institute For Innovation spend its money?
Fogarty Institute For Innovation directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Fogarty Institute For Innovation tax-deductible?
Fogarty Institute For Innovation is registered as a tax-exempt nonprofit (EIN: 113800306). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does the Fogarty Institute For Innovation sustain its operations with 0% reported officer compensation?
The consistent reporting of 0% officer compensation across all filings suggests that executive leadership may be entirely volunteer-based, compensated through a related entity, or that their roles are structured in a way that does not fall under the 'officer compensation' category on the IRS Form 990. This warrants further inquiry into their operational model.
What caused the significant drop in revenue from $12,603,959 in 2022 to $2,939,436 in 2023?
The IRS 990 filings alone do not provide the specific reasons for such large year-over-year revenue fluctuations. This could be due to the timing of large grants, specific project funding cycles, or changes in investment income. Further details would likely be found in the organization's financial statements or annual reports.
Why did expenses increase significantly in 2023 to $7,630,781, exceeding revenue?
The increase in expenses to $7,630,781 in 2023, while revenue was $2,939,436, indicates that the organization spent more than it earned in that period. This could be due to the utilization of accumulated assets, investment in new programs, or one-time capital expenditures. This trend is not sustainable long-term without drawing down reserves or securing future funding.
Filing History
IRS 990 filing history for Fogarty Institute For Innovation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Fogarty Institute For Innovation's revenue has grown by 11.7%, moving from $2.6M to $2.9M. Total assets increased by 275.1% over the same period, from $5.7M to $21.4M. Total functional expenses rose by 424.6%, from $1.5M to $7.6M. In its most recent filing year (2023), Fogarty Institute For Innovation reported a deficit of $4.7M, with expenses exceeding revenue. The organization holds $11.0M in liabilities against $21.4M in assets (debt-to-asset ratio: 51.6%), resulting in net assets of $10.3M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $2.9M | $7.6M | $21.4M | $11.0M | — | — |
| 2022 | $12.6M | $7.2M | $26.9M | $12.2M | — | View 990 |
| 2021 | $3.4M | $6.0M | $12.7M | $3.3M | — | View 990 |
| 2020 | $10.8M | $4.6M | $14.1M | $2.4M | — | View 990 |
| 2019 | $650K | $3.4M | $5.9M | $189K | — | View 990 |
| 2018 | $2.0M | $2.6M | $9.3M | $236K | — | View 990 |
| 2017 | $2.0M | $2.5M | $10.5M | $502K | — | View 990 |
| 2016 | $2.9M | $2.8M | $8.6M | $525K | — | View 990 |
| 2015 | $3.1M | $3.4M | $8.4M | $711K | — | View 990 |
| 2014 | $5.5M | $3.8M | $8.8M | $1.0M | — | View 990 |
| 2013 | $3.8M | $2.7M | $7.4M | $939K | — | View 990 |
| 2012 | $4.9M | $2.0M | $7.4M | $880K | — | View 990 |
| 2011 | $2.6M | $1.5M | $5.7M | $848K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.9M, expenses of $7.6M, and assets of $21.4M (revenue -76.7% year-over-year).
- 2022: Revenue of $12.6M, expenses of $7.2M, and assets of $26.9M (revenue +274.8% year-over-year).
- 2021: Revenue of $3.4M, expenses of $6.0M, and assets of $12.7M (revenue -68.9% year-over-year).
- 2020: Revenue of $10.8M, expenses of $4.6M, and assets of $14.1M (revenue +1565.1% year-over-year).
- 2019: Revenue of $650K, expenses of $3.4M, and assets of $5.9M (revenue -67.3% year-over-year).
- 2018: Revenue of $2.0M, expenses of $2.6M, and assets of $9.3M (revenue +0.3% year-over-year).
- 2017: Revenue of $2.0M, expenses of $2.5M, and assets of $10.5M (revenue -32.6% year-over-year).
- 2016: Revenue of $2.9M, expenses of $2.8M, and assets of $8.6M (revenue -4.0% year-over-year).
- 2015: Revenue of $3.1M, expenses of $3.4M, and assets of $8.4M (revenue -43.8% year-over-year).
- 2014: Revenue of $5.5M, expenses of $3.8M, and assets of $8.8M (revenue +42.0% year-over-year).
- 2013: Revenue of $3.8M, expenses of $2.7M, and assets of $7.4M (revenue -22.1% year-over-year).
- 2012: Revenue of $4.9M, expenses of $2.0M, and assets of $7.4M (revenue +87.5% year-over-year).
- 2011: Revenue of $2.6M, expenses of $1.5M, and assets of $5.7M.
Data Sources and Methodology
This transparency report for Fogarty Institute For Innovation 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.