Foundation For Seacoast Health
Foundation For Seacoast Health faces persistent deficit spending despite substantial assets and unpaid leadership.
EIN: 20386319 · Portsmouth, NH · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $3.5M |
| Total Expenses | $995K |
| Program Spending | 80% |
| CEO/Top Officer Pay | $25,895,816 |
| Net Assets | $24.7M |
| Transparency Score | 65/100 |
Is Foundation For Seacoast Health Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Foundation For Seacoast Health directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Foundation For Seacoast Health
Foundation For Seacoast Health (EIN: 20386319) is a nonprofit organization based in Portsmouth, NH. The organization reported total revenue of $3.5M and total assets of $25.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Foundation For Seacoast Health's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Foundation For Seacoast Health is a mid-size nonprofit that has been operating for 40 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -10.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $452K |
| Total Expenses | $995K |
| Surplus / Deficit | $-542,817 |
| Total Assets | $24.9M |
| Total Liabilities | $199K |
| Net Assets | $24.7M |
| Operating Margin | -120.2% |
| Debt-to-Asset Ratio | 0.8% |
| Months of Reserves | 300.0 months |
Financial Health Grade: B
In 2023, Foundation For Seacoast Health reported a deficit of $543K with expenses exceeding revenue, holds 300.0 months of operating reserves (strong position), has a debt-to-asset ratio of 0.8% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Foundation For Seacoast Health's revenue has declined at a compound annual growth rate (CAGR) of -10.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -89.7% | -91.1% | +9.8% |
| 2022 | +69.7% | +416.6% | -45.3% |
| 2021 | -52.9% | +10.0% | +4.9% |
| 2020 | +170.1% | -9.0% | +3.0% |
| 2019 | +81.0% | -5.3% | +7.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1986 |
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 Seacoast Health 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Foundation For Seacoast Health 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.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $543K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.8%.
Executive Compensation Analysis
Executive compensation has consistently been reported as 0% across all available filings, indicating that the organization's leadership is unpaid, which is highly commendable for a nonprofit of its asset size ($25,895,816).
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 Seacoast Health's IRS 990 filings:
- Consistent deficit spending in recent years (e.g., 2023 expenses $994,541 vs. revenue $451,724; 2022 expenses $11,199,847 vs. revenue $4,382,438).
- Significant decline in total assets over the past decade, from $45,008,431 in 2013 to $24,860,519 in 2023.
- Large fluctuations in annual expenses, making financial planning and impact assessment challenging (e.g., $11.2M in 2022 vs. $2.1M in 2021).
Strengths
The following positive indicators were identified for Foundation For Seacoast Health:
- Consistent 0% officer compensation, indicating a volunteer or unpaid leadership structure.
- Substantial asset base ($25,895,816) provides a significant financial buffer.
- Demonstrated ability to significantly reduce liabilities, as seen from $5.1M in 2021 to $199K in 2023.
Frequently Asked Questions about Foundation For Seacoast Health
Is Foundation For Seacoast Health a legitimate charity?
Based on AI analysis of IRS 990 filings, Foundation For Seacoast Health (EIN: 20386319) some concerns. Mission Score: 65/100. 3 red flags identified, 3 strengths noted.
How does Foundation For Seacoast Health spend its money?
Foundation For Seacoast Health directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Foundation For Seacoast Health tax-deductible?
Foundation For Seacoast Health is registered as a tax-exempt nonprofit (EIN: 20386319). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Foundation For Seacoast Health CEO make?
Foundation For Seacoast Health's highest-compensated officer earns $25,895,816 annually. The organization reported $3.5M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Foundation For Seacoast Health's spending goes to programs?
Foundation For Seacoast Health directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Foundation For Seacoast Health located?
Foundation For Seacoast Health is headquartered in Portsmouth, New Hampshire and files with the IRS under EIN 20386319.
How many years of IRS 990 filings does Foundation For Seacoast Health have?
Foundation For Seacoast Health 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 $3.5M in total revenue.
Is Foundation For Seacoast Health financially sustainable given its recent deficit spending?
The organization has experienced significant deficit spending in recent years, with expenses exceeding revenue by $542,817 in 2023 and $6,817,409 in 2022. While it possesses substantial assets ($24,860,519 in 2023), this trend is not sustainable long-term without drawing down its endowment or increasing revenue.
What caused the significant decrease in assets from $45 million in 2013 to $24 million in 2023?
The asset base has decreased from a high of $45,008,431 in 2013 to $24,860,519 in 2023. This decline, coupled with periods of high expenses (e.g., $11,199,847 in 2022), suggests significant outlays or investment losses that have eroded the organization's capital over the decade.
How does the organization manage its liabilities, which have fluctuated significantly?
Liabilities have varied widely, from a high of $11,971,072 in 2012 to a low of $199,091 in 2023. The sharp decrease in liabilities from $5,179,864 in 2021 to $249,242 in 2022 and further to $199,091 in 2023 indicates successful debt reduction or resolution of obligations.
Filing History
IRS 990 filing history for Foundation For Seacoast Health showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Foundation For Seacoast Health's revenue has declined by 72.5%, moving from $1.6M to $452K. Total assets decreased by 42.7% over the same period, from $43.4M to $24.9M. Total functional expenses fell by 84.7%, from $6.5M to $995K. In its most recent filing year (2023), Foundation For Seacoast Health reported a deficit of $543K, with expenses exceeding revenue. The organization holds $199K in liabilities against $24.9M in assets (debt-to-asset ratio: 0.8%), resulting in net assets of $24.7M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $452K | $995K | $24.9M | $199K | — | — |
| 2022 | $4.4M | $11.2M | $22.6M | $249K | — | View 990 |
| 2021 | $2.6M | $2.2M | $41.4M | $5.2M | — | View 990 |
| 2020 | $5.5M | $2.0M | $39.5M | $5.5M | — | View 990 |
| 2019 | $2.0M | $2.2M | $38.4M | $5.6M | — | — |
| 2015 | $1.1M | $2.3M | $35.8M | $6.3M | — | — |
| 2014 | $1.3M | $2.7M | $39.2M | $6.5M | — | View 990 |
| 2013 | $2.3M | $2.6M | $45.0M | $10.9M | — | View 990 |
| 2012 | $1.4M | $2.9M | $44.3M | $12.0M | — | View 990 |
| 2011 | $1.6M | $6.5M | $43.4M | $11.9M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $452K, expenses of $995K, and assets of $24.9M (revenue -89.7% year-over-year).
- 2022: Revenue of $4.4M, expenses of $11.2M, and assets of $22.6M (revenue +69.7% year-over-year).
- 2021: Revenue of $2.6M, expenses of $2.2M, and assets of $41.4M (revenue -52.9% year-over-year).
- 2020: Revenue of $5.5M, expenses of $2.0M, and assets of $39.5M (revenue +170.1% year-over-year).
- 2019: Revenue of $2.0M, expenses of $2.2M, and assets of $38.4M (revenue +81.0% year-over-year).
- 2015: Revenue of $1.1M, expenses of $2.3M, and assets of $35.8M (revenue -16.6% year-over-year).
- 2014: Revenue of $1.3M, expenses of $2.7M, and assets of $39.2M (revenue -41.9% year-over-year).
- 2013: Revenue of $2.3M, expenses of $2.6M, and assets of $45.0M (revenue +61.6% year-over-year).
- 2012: Revenue of $1.4M, expenses of $2.9M, and assets of $44.3M (revenue -12.8% year-over-year).
- 2011: Revenue of $1.6M, expenses of $6.5M, and assets of $43.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Foundation For Seacoast Health:
Data Sources and Methodology
This transparency report for Foundation For Seacoast Health 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.