Foundation For Insurance And Financial Education Inc
Foundation For Insurance And Financial Education Inc consistently operates at a significant deficit with minimal revenue.
EIN: 201227803 · Cedar Falls, IA · NTEE: B82 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $148 |
| Total Expenses | $30K |
| Net Assets | $41K |
| Transparency Score | 20/100 |
Is Foundation For Insurance And Financial Education Inc Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Foundation For Insurance And Financial Education Inc
Foundation For Insurance And Financial Education Inc (EIN: 201227803) is a nonprofit organization based in Cedar Falls, IA, classified under NTEE code B82. The organization reported total revenue of $148 and total assets of $37K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Foundation For Insurance And Financial Education Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Foundation For Insurance And Financial Education Inc is a micro nonprofit that has been operating for 21 years, with 6 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of -21.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $197 |
| Total Expenses | $30K |
| Surplus / Deficit | $-29,986 |
| Total Assets | $42K |
| Total Liabilities | $402 |
| Net Assets | $41K |
| Operating Margin | -15221.3% |
| Debt-to-Asset Ratio | 1.0% |
| Months of Reserves | 16.7 months |
Financial Health Grade: B
In 2023, Foundation For Insurance And Financial Education Inc reported a deficit of $30K with expenses exceeding revenue, holds 16.7 months of operating reserves (strong position), has a debt-to-asset ratio of 1.0% (very low leverage).
Financial Trends
Over 6 years of filings (2012–2023), Foundation For Insurance And Financial Education Inc's revenue has declined at a compound annual growth rate (CAGR) of -21.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +1131.3% | +615.6% | -44.4% |
| 2022 | +166.7% | +139.0% | -1.2% |
| 2021 | -90.8% | +25.5% | +3.1% |
| 2018 | -98.9% | -74.6% | +136.0% |
| 2013 | +120.1% | +25.7% | -2.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2005 |
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 Foundation For Insurance And Financial Education Inc with a Mission Score of 20 out of 100 (Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 100%
- programs: 0%
- fundraising: 0%
According to IRS 990 filings, Foundation For Insurance And Financial Education Inc allocates its expenses as follows: admin: 100%, programs: 0%, fundraising: 0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $30K, with expenses exceeding revenue.
- Debt-to-asset ratio: 1.0%.
Executive Compensation Analysis
Officer compensation has consistently been reported as 0%, indicating that the organization's leadership is unpaid, which is typical for very small, volunteer-run entities.
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 Foundation For Insurance And Financial Education Inc's IRS 990 filings:
- Consistent and significant operating deficits (e.g., $197 revenue vs. $30,183 expenses in 2023).
- Minimal and fluctuating revenue, indicating a lack of stable funding.
- High liabilities relative to assets in recent years (e.g., $67,039 liabilities vs. $75,291 assets in 2022), raising solvency concerns.
- Lack of clear program spending given the minimal revenue and high expenses, suggesting most expenses are administrative overhead.
Strengths
The following positive indicators were identified for Foundation For Insurance And Financial Education Inc:
- 0% officer compensation, indicating a volunteer-driven leadership structure.
- Consistent filing of IRS Form 990s, demonstrating a commitment to transparency in reporting.
Frequently Asked Questions about Foundation For Insurance And Financial Education Inc
Is Foundation For Insurance And Financial Education Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Foundation For Insurance And Financial Education Inc (EIN: 201227803) significant concerns. Mission Score: 20/100. 4 red flags identified, 2 strengths noted.
How does Foundation For Insurance And Financial Education Inc spend its money?
Detailed spending breakdown data is not yet available for Foundation For Insurance And Financial Education Inc. Check back for updated IRS 990 analysis.
Are donations to Foundation For Insurance And Financial Education Inc tax-deductible?
Foundation For Insurance And Financial Education Inc is registered as a tax-exempt nonprofit (EIN: 201227803). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Foundation For Insurance And Financial Education Inc compare to similar nonprofits?
With a transparency score of 20/100 (Poor), Foundation For Insurance And Financial Education Inc is below average for NTEE category B82 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Foundation For Insurance And Financial Education Inc located?
Foundation For Insurance And Financial Education Inc is headquartered in Cedar Falls, Iowa and files with the IRS under EIN 201227803. It is classified under NTEE code B82.
How many years of IRS 990 filings does Foundation For Insurance And Financial Education Inc have?
Foundation For Insurance And Financial Education Inc has 6 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 $148 in total revenue.
What are the specific programs or activities Foundation For Insurance And Financial Education Inc undertakes?
The provided financial data does not detail specific program activities, only financial aggregates. Given the NTEE code B82 (Insurance & Financial Education), it likely focuses on educational initiatives in these areas, but the scale of these activities is unclear given the minimal revenue.
How does Foundation For Insurance And Financial Education Inc cover its expenses when revenue is consistently so low?
The consistent and significant gap between expenses and revenue (e.g., $197 revenue vs. $30,183 expenses in 2023) suggests that the organization is either drawing down on past assets, receiving unreported in-kind contributions, or has other funding sources not reflected in the 'revenue' line item, or is accumulating debt. The high liabilities in recent years (e.g., $67,039 in 2022) point towards debt accumulation.
What is the long-term financial strategy for Foundation For Insurance And Financial Education Inc given its current financial trends?
The current financial trends of minimal revenue and significant expenses are unsustainable in the long term. Without a clear strategy to increase income or drastically reduce expenses, the organization faces significant financial viability challenges.
Filing History
IRS 990 filing history for Foundation For Insurance And Financial Education Inc showing financial trends over 6 years of public records:
Over 6 years of IRS 990 filings (2012–2023), Foundation For Insurance And Financial Education Inc's revenue has declined by 92.9%, moving from $3K to $197. Total assets increased by 29.9% over the same period, from $32K to $42K. Total functional expenses rose by 586.3%, from $4K to $30K. In its most recent filing year (2023), Foundation For Insurance And Financial Education Inc reported a deficit of $30K, with expenses exceeding revenue. The organization holds $402 in liabilities against $42K in assets (debt-to-asset ratio: 1.0%), resulting in net assets of $41K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $197 | $30K | $42K | $402 | — | — |
| 2022 | $16 | $4K | $75K | $67K | — | View 990 |
| 2021 | $6 | $2K | $76K | $64K | — | — |
| 2018 | $65 | $1K | $74K | $54K | — | View 990 |
| 2013 | $6K | $6K | $31K | $0 | — | View 990 |
| 2012 | $3K | $4K | $32K | $2K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $197, expenses of $30K, and assets of $42K (revenue +1131.3% year-over-year).
- 2022: Revenue of $16, expenses of $4K, and assets of $75K (revenue +166.7% year-over-year).
- 2021: Revenue of $6, expenses of $2K, and assets of $76K (revenue -90.8% year-over-year).
- 2018: Revenue of $65, expenses of $1K, and assets of $74K (revenue -98.9% year-over-year).
- 2013: Revenue of $6K, expenses of $6K, and assets of $31K (revenue +120.1% year-over-year).
- 2012: Revenue of $3K, expenses of $4K, and assets of $32K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Foundation For Insurance And Financial Education Inc:
Data Sources and Methodology
This transparency report for Foundation For Insurance And Financial Education Inc 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.