Franco Veterans Club Inc
Franco Veterans Club Inc: Declining Assets and Persistent Deficits Raise Concerns
EIN: 222584301 · Leominster, MA · Updated: 2026-04-04
Is Franco Veterans Club Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Franco Veterans Club Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Franco Veterans Club Inc
Franco Veterans Club Inc (EIN: 222584301) is a nonprofit organization based in Leominster, MA. The organization reported total revenue of $401K and total assets of $190K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Franco Veterans Club Inc'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 Franco Veterans Club Inc with a Mission Score of 60 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: 70%
- fundraising: 15%
According to IRS 990 filings, Franco Veterans Club Inc allocates its expenses as follows: admin: 15%, programs: 70%, fundraising: 15%. Approximately 70% goes to programs, indicating moderate mission focus.
Executive Compensation Analysis
Executive compensation cannot be assessed as the provided data does not include specific compensation figures for executives.
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 Franco Veterans Club Inc's IRS 990 filings:
- Consistent operating deficits: Expenses have exceeded revenue in all reported years, leading to a cumulative loss.
- Declining net assets: Total assets have decreased from $234,482 in 2019 to $142,915 in 2023, indicating a shrinking financial base.
- Significant expense-to-revenue ratio: In 2023, expenses ($222,975) significantly outstripped revenue ($198,451).
Strengths
The following positive indicators were identified for Franco Veterans Club Inc:
- Long-standing presence: The organization has been operating for many years, suggesting a history of community engagement.
- Stable liabilities: Despite financial challenges, liabilities have remained relatively low and consistent.
Frequently Asked Questions about Franco Veterans Club Inc
Is Franco Veterans Club Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Franco Veterans Club Inc (EIN: 222584301) some concerns. Mission Score: 60/100. 3 red flags identified, 2 strengths noted.
How does Franco Veterans Club Inc spend its money?
Franco Veterans Club Inc directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Franco Veterans Club Inc tax-deductible?
Franco Veterans Club Inc is registered as a tax-exempt nonprofit (EIN: 222584301). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What does Franco Veterans Club Inc do?
Franco Veterans Club Inc is a nonprofit organization in the Unknown sector, located in Leominster, Massachusetts. It is classified under NTEE code Unknown.
How much revenue does Franco Veterans Club Inc have?
Franco Veterans Club Inc reported total revenue of $400,605. Based on 13 IRS 990 filings on record.
What are Franco Veterans Club Inc's total assets?
Franco Veterans Club Inc holds total assets of $189,959 as reported in IRS 990 filings.
Where is Franco Veterans Club Inc located?
Franco Veterans Club Inc is based in Leominster, Massachusetts.
What is Franco Veterans Club Inc's EIN?
Franco Veterans Club Inc's Employer Identification Number (EIN) is 222584301. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Franco Veterans Club Inc?
Franco Veterans Club Inc is classified under NTEE code Unknown (Unknown).
Is Franco Veterans Club Inc a registered 501(c)(3)?
Franco Veterans Club Inc appears in IRS records (EIN: 222584301). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Franco Veterans Club Inc file IRS Form 990?
Yes, Franco Veterans Club Inc has 13 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Franco Veterans Club Inc's revenue in 2023?
In the 202312 filing period, Franco Veterans Club Inc reported total revenue of $198,451, total expenses of $222,975, and net assets of $142,915.
Is Franco Veterans Club Inc's revenue growing or declining?
Franco Veterans Club Inc's revenue is relatively stable. Revenue went from $196,164 (202212) to $198,451 (202312), a +1.2% change. Based on 13 filings on record.
What is Franco Veterans Club Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Franco Veterans Club Inc covers tax period 202312. It shows revenue of $198,451, expenses of $222,975, total assets of $142,915, and liabilities of $4,841.
How much does Franco Veterans Club Inc spend on programs vs administration?
Based on IRS 990 analysis, Franco Veterans Club Inc allocates approximately 70% of expenses to program services, 15% to administrative costs, and 15% to fundraising. Program spending is moderate relative to overhead.
Is Franco Veterans Club Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Franco Veterans Club Inc shows mixed signals. Mission Score: 60/100 (Good). 3 red flags identified. 2 strengths noted.
What are the red flags for Franco Veterans Club Inc?
The following concerns were identified: Consistent operating deficits: Expenses have exceeded revenue in all reported years, leading to a cumulative loss.. Declining net assets: Total assets have decreased from $234,482 in 2019 to $142,915 in 2023, indicating a shrinking financial base.. Significant expense-to-revenue ratio: In 2023, expenses ($222,975) significantly outstripped revenue ($198,451).. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Franco Veterans Club Inc's strengths?
Positive indicators for Franco Veterans Club Inc include: Long-standing presence: The organization has been operating for many years, suggesting a history of community engagement.. Stable liabilities: Despite financial challenges, liabilities have remained relatively low and consistent.. These findings are derived from AI analysis of the organization's financial filings.
How does Franco Veterans Club Inc compensate executives?
Executive compensation cannot be assessed as the provided data does not include specific compensation figures for executives. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
What specific programs or services does Franco Veterans Club Inc provide to veterans, and how are these funded given the consistent operating deficits?
The provided financial data does not detail specific programs. The consistent deficits suggest that current funding sources are insufficient to cover operational costs, potentially impacting program sustainability or requiring reliance on past reserves.
What is the organization's strategy to reverse the trend of declining net assets and achieve financial sustainability?
The data does not outline a strategy. To reverse the trend, the organization would need to either significantly increase revenue (e.g., through fundraising or grants) or substantially reduce expenses, or a combination of both, to achieve a positive operating margin.
Filing History
IRS 990 filing history for Franco Veterans Club Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Franco Veterans Club Inc's revenue has declined by 14.7%, moving from $233K to $198K. Total assets decreased by 4.2% over the same period, from $149K to $143K. Total functional expenses rose by 6.5%, from $209K to $223K. In its most recent filing year (2023), Franco Veterans Club Inc reported a deficit of $25K, with expenses exceeding revenue. The organization holds $5K in liabilities against $143K in assets (debt-to-asset ratio: 3.4%), resulting in net assets of $138K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $198K | $223K | $143K | $5K | — | View 990 |
| 2022 | $196K | $215K | $168K | $5K | — | View 990 |
| 2021 | $193K | $209K | $183K | $2K | — | View 990 |
| 2020 | $51K | $90K | $199K | $2K | — | — |
| 2019 | $201K | $136K | $234K | $2K | — | View 990 |
| 2018 | $136K | $122K | $173K | $5K | — | View 990 |
| 2017 | $210K | $179K | $154K | $0 | — | View 990 |
| 2016 | $174K | $216K | $123K | $0 | — | View 990 |
| 2015 | $231K | $222K | $165K | $0 | — | View 990 |
| 2014 | $232K | $217K | $156K | $0 | — | View 990 |
| 2013 | $237K | $219K | $140K | $0 | — | View 990 |
| 2012 | $207K | $220K | $128K | $7K | — | View 990 |
| 2011 | $233K | $209K | $149K | $14K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $198K, expenses of $223K, and assets of $143K (revenue +1.2% year-over-year).
- 2022: Revenue of $196K, expenses of $215K, and assets of $168K (revenue +1.7% year-over-year).
- 2021: Revenue of $193K, expenses of $209K, and assets of $183K (revenue +276.6% year-over-year).
- 2020: Revenue of $51K, expenses of $90K, and assets of $199K (revenue -74.5% year-over-year).
- 2019: Revenue of $201K, expenses of $136K, and assets of $234K (revenue +47.2% year-over-year).
- 2018: Revenue of $136K, expenses of $122K, and assets of $173K (revenue -35.0% year-over-year).
- 2017: Revenue of $210K, expenses of $179K, and assets of $154K (revenue +20.5% year-over-year).
- 2016: Revenue of $174K, expenses of $216K, and assets of $123K (revenue -24.5% year-over-year).
- 2015: Revenue of $231K, expenses of $222K, and assets of $165K (revenue -0.7% year-over-year).
- 2014: Revenue of $232K, expenses of $217K, and assets of $156K (revenue -2.0% year-over-year).
- 2013: Revenue of $237K, expenses of $219K, and assets of $140K (revenue +14.6% year-over-year).
- 2012: Revenue of $207K, expenses of $220K, and assets of $128K (revenue -11.1% year-over-year).
- 2011: Revenue of $233K, expenses of $209K, and assets of $149K.
Data Sources and Methodology
This transparency report for Franco Veterans Club 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.