Frascella Family Foundationcorporation
Frascella Family Foundation's assets have declined by 44% over the past decade while consistently reporting zero officer compensation.
EIN: 208654691 · Greenwich, CT · NTEE: T22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $10K |
| Total Expenses | $387K |
| Program Spending | 90% |
| Net Assets | $799K |
| Transparency Score | 75/100 |
Is Frascella Family Foundationcorporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Frascella Family Foundationcorporation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Frascella Family Foundationcorporation
Frascella Family Foundationcorporation (EIN: 208654691) is a nonprofit organization based in Greenwich, CT, classified under NTEE code T22. The organization reported total revenue of $10K and total assets of $693K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Frascella Family Foundationcorporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Frascella Family Foundationcorporation is a micro nonprofit that has been operating for 19 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 59.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $281K |
| Total Expenses | $387K |
| Surplus / Deficit | $-105,675 |
| Total Assets | $799K |
| Total Liabilities | $1 |
| Net Assets | $799K |
| Operating Margin | -37.6% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 24.8 months |
Financial Health Grade: B
In 2023, Frascella Family Foundationcorporation reported a deficit of $106K with expenses exceeding revenue, holds 24.8 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Frascella Family Foundationcorporation's revenue has grown at a compound annual growth rate (CAGR) of 59.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +23285.3% | +713.9% | -11.7% |
| 2022 | -99.4% | -74.2% | -4.9% |
| 2021 | +13.8% | +3.9% | +1.7% |
| 2020 | +11540.8% | +11.6% | -0.2% |
| 2019 | +117.6% | -13.3% | -20.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2007 |
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 Frascella Family Foundationcorporation 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: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Frascella Family Foundationcorporation allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% 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 $106K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The Frascella Family Foundation consistently reports 0% officer compensation across all available filings, indicating that no salaries are paid to its officers. This is a positive sign for a foundation of its size, suggesting that resources are not being diverted to executive pay.
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 Frascella Family Foundationcorporation's IRS 990 filings:
- Consistent decline in assets over the past decade, indicating potential spending down of endowment.
- Expenses exceeding revenue in multiple years (e.g., 2023, 2022, 2019, 2015, 2014, 2011), leading to asset depletion.
- Unusual consistent reporting of $1 in liabilities across several recent filings.
Strengths
The following positive indicators were identified for Frascella Family Foundationcorporation:
- Zero officer compensation reported across all available filings, indicating efficient use of funds for mission.
- Consistent IRS 990 filing history, demonstrating transparency and compliance.
- As a private foundation, its primary purpose is grantmaking, directly supporting other charitable activities.
Frequently Asked Questions about Frascella Family Foundationcorporation
Is Frascella Family Foundationcorporation a legitimate charity?
Frascella Family Foundationcorporation (EIN: 208654691) is a registered tax-exempt nonprofit based in Connecticut. Our AI analysis gives it a Mission Score of 75/100. It has 10 years of IRS 990 filings on record. Total revenue: $10K. 3 red flags identified. 3 strengths noted. Financial health grade: B.
How does Frascella Family Foundationcorporation spend its money?
Frascella Family Foundationcorporation directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Frascella Family Foundationcorporation tax-deductible?
Frascella Family Foundationcorporation is registered as a tax-exempt nonprofit (EIN: 208654691). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Frascella Family Foundationcorporation compare to similar nonprofits?
With a transparency score of 75/100 (Good), Frascella Family Foundationcorporation is above average for NTEE category T22 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Frascella Family Foundationcorporation located?
Frascella Family Foundationcorporation is headquartered in Greenwich, Connecticut and files with the IRS under EIN 208654691. It is classified under NTEE code T22.
How many years of IRS 990 filings does Frascella Family Foundationcorporation have?
Frascella Family Foundationcorporation 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 $10K in total revenue.
What is the nature of the consistent $1 liability reported in recent years?
The IRS 990 filings from 2019 to 2023 consistently show $1 in liabilities. This is an unusual figure that could represent a nominal placeholder or a specific, very small outstanding obligation. Further review of the detailed 990 forms would be needed to understand its exact nature.
What specific programs or grants does the Frascella Family Foundation support?
Based solely on the provided summary data, the specific programs or grant recipients are not detailed. As a private grantmaking foundation (NTEE T22), its primary activity would be issuing grants to other organizations or individuals. A review of Schedule I (Grants and Other Assistance to Organizations, Governments, and Individuals in the U.S. and Foreign) of the full 990 form would provide this information.
Why have the foundation's assets decreased significantly over the past decade?
The foundation's assets have decreased from $1,419,354 in 2011 to $798,602 in 2023. This decline suggests that the foundation is spending down its principal or that investment returns have not kept pace with distributions and expenses. For example, in 2023, expenses ($387,000) significantly exceeded revenue ($281,325), contributing to asset depletion.
Filing History
IRS 990 filing history for Frascella Family Foundationcorporation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Frascella Family Foundationcorporation's revenue has grown by 26846.8%, moving from $1K to $281K. Total assets decreased by 43.7% over the same period, from $1.4M to $799K. Total functional expenses rose by 373.7%, from $82K to $387K. In its most recent filing year (2023), Frascella Family Foundationcorporation reported a deficit of $106K, with expenses exceeding revenue. The organization holds $1 in liabilities against $799K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $799K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $281K | $387K | $799K | $1 | — | View 990 |
| 2022 | $1K | $48K | $904K | $1 | — | View 990 |
| 2021 | $200K | $185K | $951K | $1 | — | View 990 |
| 2020 | $176K | $178K | $935K | $1 | — | View 990 |
| 2019 | $2K | $159K | $937K | $1 | — | — |
| 2015 | $694 | $184K | $1.2M | $0 | — | View 990 |
| 2014 | $968 | $140K | $1.4M | $0 | — | View 990 |
| 2013 | $1K | $81K | $1.5M | $0 | — | View 990 |
| 2012 | $221K | $55K | $1.6M | $0 | — | View 990 |
| 2011 | $1K | $82K | $1.4M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $281K, expenses of $387K, and assets of $799K (revenue +23285.3% year-over-year).
- 2022: Revenue of $1K, expenses of $48K, and assets of $904K (revenue -99.4% year-over-year).
- 2021: Revenue of $200K, expenses of $185K, and assets of $951K (revenue +13.8% year-over-year).
- 2020: Revenue of $176K, expenses of $178K, and assets of $935K (revenue +11540.8% year-over-year).
- 2019: Revenue of $2K, expenses of $159K, and assets of $937K (revenue +117.6% year-over-year).
- 2015: Revenue of $694, expenses of $184K, and assets of $1.2M (revenue -28.3% year-over-year).
- 2014: Revenue of $968, expenses of $140K, and assets of $1.4M (revenue -18.8% year-over-year).
- 2013: Revenue of $1K, expenses of $81K, and assets of $1.5M (revenue -99.5% year-over-year).
- 2012: Revenue of $221K, expenses of $55K, and assets of $1.6M (revenue +21034.0% year-over-year).
- 2011: Revenue of $1K, expenses of $82K, and assets of $1.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Frascella Family Foundationcorporation:
Data Sources and Methodology
This transparency report for Frascella Family Foundationcorporation 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.