Found Sound Nation
EIN: 474207974 · Ridgewood, NY · NTEE: A20
Is Found Sound Nation Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Found Sound Nation
Found Sound Nation (EIN: 474207974) is a nonprofit organization based in Ridgewood, NY, classified under NTEE code A20. The organization reported total revenue of $1.9M and total assets of $151K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Found Sound Nation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Found Sound Nation is a mid-size nonprofit that has been operating for 10 years, with 8 years of IRS 990 filings on record (2016–2023). Revenue has grown at a compound annual rate of 35.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $749K |
| Total Expenses | $687K |
| Surplus / Deficit | +$62K |
| Total Assets | $219K |
| Total Liabilities | $25K |
| Net Assets | $195K |
| Operating Margin | 8.3% |
| Debt-to-Asset Ratio | 11.3% |
| Months of Reserves | 3.8 months |
Financial Health Grade: A
In 2023, Found Sound Nation reported a surplus of $62K with revenue exceeding expenses, holds 3.8 months of operating reserves (adequate), has a debt-to-asset ratio of 11.3% (very low leverage).
Financial Trends
Over 8 years of filings (2016–2023), Found Sound Nation's revenue has grown at a compound annual growth rate (CAGR) of 35.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +103.6% | +96.8% | +65.6% |
| 2022 | +39.4% | +97.9% | +16.0% |
| 2021 | +235.0% | +92.7% | +327.5% |
| 2020 | +28.3% | +133.6% | -32.3% |
| 2019 | -22.8% | -57.5% | +302.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2016 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Found Sound Nation has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Found Sound Nation with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $62K, with revenue exceeding expenses.
- Debt-to-asset ratio: 11.3%.
Frequently Asked Questions about Found Sound Nation
Is Found Sound Nation a legitimate charity?
Based on AI analysis of IRS 990 filings, Found Sound Nation (EIN: 474207974) insufficient data. 0 red flags identified, 0 strengths noted.
How does Found Sound Nation spend its money?
Detailed spending breakdown data is not yet available for Found Sound Nation. Check back for updated IRS 990 analysis.
Are donations to Found Sound Nation tax-deductible?
Found Sound Nation is registered as a tax-exempt nonprofit (EIN: 474207974). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Filing History
IRS 990 filing history for Found Sound Nation showing financial trends over 8 years of public records:
Over 8 years of IRS 990 filings (2016–2023), Found Sound Nation's revenue has grown by 757.2%, moving from $87K to $749K. Total assets increased by 449.9% over the same period, from $40K to $219K. Total functional expenses rose by 1346.7%, from $47K to $687K. In its most recent filing year (2023), Found Sound Nation reported a surplus of $62K, with revenue exceeding expenses. The organization holds $25K in liabilities against $219K in assets (debt-to-asset ratio: 11.3%), resulting in net assets of $195K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $749K | $687K | $219K | $25K | — | — |
| 2022 | $368K | $349K | $133K | $0 | — | — |
| 2021 | $264K | $176K | $114K | $0 | — | View 990 |
| 2020 | $79K | $92K | $27K | $0 | — | View 990 |
| 2019 | $61K | $39K | $39K | $0 | — | View 990 |
| 2018 | $79K | $92K | $10K | $0 | — | View 990 |
| 2017 | $87K | $104K | $23K | $0 | — | View 990 |
| 2016 | $87K | $47K | $40K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $749K, expenses of $687K, and assets of $219K (revenue +103.6% year-over-year).
- 2022: Revenue of $368K, expenses of $349K, and assets of $133K (revenue +39.4% year-over-year).
- 2021: Revenue of $264K, expenses of $176K, and assets of $114K (revenue +235.0% year-over-year).
- 2020: Revenue of $79K, expenses of $92K, and assets of $27K (revenue +28.3% year-over-year).
- 2019: Revenue of $61K, expenses of $39K, and assets of $39K (revenue -22.8% year-over-year).
- 2018: Revenue of $79K, expenses of $92K, and assets of $10K (revenue -8.2% year-over-year).
- 2017: Revenue of $87K, expenses of $104K, and assets of $23K (revenue -0.9% year-over-year).
- 2016: Revenue of $87K, expenses of $47K, and assets of $40K.
Data Sources and Methodology
This transparency report for Found Sound Nation 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.