Fresh Air Fund
Fresh Air Fund maintains strong assets despite recent operational deficits and reports no officer compensation.
EIN: 131656653 · New York, NY · NTEE: N20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $25.6M |
| Total Expenses | $22.7M |
| Program Spending | 85% |
| Net Assets | $136.4M |
| Transparency Score | 90/100 |
Is Fresh Air Fund Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Fresh Air Fund directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Fresh Air Fund
Fresh Air Fund (EIN: 131656653) is a nonprofit organization based in New York, NY, classified under NTEE code N20. The organization reported total revenue of $25.6M and total assets of $145.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Fresh Air Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Fresh Air Fund is a large nonprofit that has been operating for 93 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -1.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $15.0M |
| Total Expenses | $22.7M |
| Surplus / Deficit | $-7,674,879 |
| Total Assets | $137.6M |
| Total Liabilities | $1.2M |
| Net Assets | $136.4M |
| Operating Margin | -51.0% |
| Debt-to-Asset Ratio | 0.9% |
| Months of Reserves | 72.7 months |
Financial Health Grade: B
In 2023, Fresh Air Fund reported a deficit of $7.7M with expenses exceeding revenue, holds 72.7 months of operating reserves (strong position), has a debt-to-asset ratio of 0.9% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Fresh Air Fund's revenue has declined at a compound annual growth rate (CAGR) of -1.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -3.6% | +5.9% | +1.9% |
| 2022 | -11.1% | +12.4% | -14.3% |
| 2021 | +35.3% | +0.6% | +16.3% |
| 2020 | -29.4% | -12.4% | -0.9% |
| 2019 | +15.9% | +14.0% | -2.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1933 |
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 Fresh Air Fund with a Mission Score of 90 out of 100 (Excellent). 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: 85%
- fundraising: 5%
According to IRS 990 filings, Fresh Air Fund allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% 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 $7.7M, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.9%.
Executive Compensation Analysis
The Fresh Air Fund consistently reports 0% officer compensation across all available filings, indicating that no portion of its expenses is allocated to executive salaries. This is a highly positive indicator of the organization's commitment to directing funds towards its mission.
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 Fresh Air Fund's IRS 990 filings:
- Expenses exceeded revenue in the last two reported periods (2022 and 2023), leading to operational deficits.
Strengths
The following positive indicators were identified for Fresh Air Fund:
- Consistent reporting of 0% officer compensation across all filings, indicating high efficiency and mission focus.
- Strong asset base, with $137,616,992 in 2023, providing financial stability.
- Low liabilities relative to assets, demonstrating sound financial management.
- Long history of IRS 990 filings (13 filings), indicating transparency and consistent reporting.
Frequently Asked Questions about Fresh Air Fund
Is Fresh Air Fund a legitimate charity?
Fresh Air Fund (EIN: 131656653) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 90/100. It has 13 years of IRS 990 filings on record. Total revenue: $25.6M. 1 red flag identified. 4 strengths noted. Financial health grade: B.
How does Fresh Air Fund spend its money?
Fresh Air Fund directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Fresh Air Fund tax-deductible?
Fresh Air Fund is registered as a tax-exempt nonprofit (EIN: 131656653). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Fresh Air Fund's spending goes to programs?
Fresh Air Fund directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Fresh Air Fund compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), Fresh Air Fund is above average for NTEE category N20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Fresh Air Fund located?
Fresh Air Fund is headquartered in New York, New York and files with the IRS under EIN 131656653. It is classified under NTEE code N20.
How many years of IRS 990 filings does Fresh Air Fund have?
Fresh Air Fund has 13 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 $25.6M in total revenue.
Is Fresh Air Fund a good charity?
Based on the provided IRS 990 data, Fresh Air Fund appears to be a good charity. It demonstrates strong financial health with substantial assets ($137,616,992 in 2023), consistent program spending, and notably reports 0% officer compensation across all filings, indicating a strong commitment to its mission.
How has Fresh Air Fund's revenue trended recently?
Fresh Air Fund's revenue has fluctuated. After a peak of $38,299,807 in 2016, it has generally been in the $15-18 million range in recent years, with $15,036,194 in 2023 and $15,595,025 in 2022. This is lower than its latest reported revenue of $25,577,856, suggesting some variability in annual income.
Are Fresh Air Fund's expenses under control?
Fresh Air Fund's expenses have been relatively stable, ranging from approximately $18 million to $22 million annually over the past decade. While expenses exceeded revenue in 2022 and 2023, the consistent spending level suggests controlled operational costs relative to its historical activity.
What is the organization's asset-to-liability ratio?
In 2023, Fresh Air Fund had assets of $137,616,992 and liabilities of $1,182,456, resulting in a very strong asset-to-liability ratio of approximately 116:1. This indicates excellent financial stability and minimal debt burden.
Filing History
IRS 990 filing history for Fresh Air Fund showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Fresh Air Fund's revenue has declined by 13.4%, moving from $17.4M to $15.0M. Total assets increased by 12.1% over the same period, from $122.8M to $137.6M. Total functional expenses rose by 40.3%, from $16.2M to $22.7M. In its most recent filing year (2023), Fresh Air Fund reported a deficit of $7.7M, with expenses exceeding revenue. The organization holds $1.2M in liabilities against $137.6M in assets (debt-to-asset ratio: 0.9%), resulting in net assets of $136.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $15.0M | $22.7M | $137.6M | $1.2M | — | — |
| 2022 | $15.6M | $21.5M | $135.0M | $1.3M | — | View 990 |
| 2021 | $17.5M | $19.1M | $157.5M | $1.9M | — | View 990 |
| 2020 | $13.0M | $19.0M | $135.4M | $5.7M | — | View 990 |
| 2019 | $18.4M | $21.6M | $136.7M | $2.5M | — | View 990 |
| 2018 | $15.8M | $19.0M | $140.2M | $662K | — | View 990 |
| 2017 | $23.8M | $19.1M | $136.4M | $540K | — | View 990 |
| 2016 | $38.3M | $19.4M | $129.3M | $1.9M | — | View 990 |
| 2015 | $26.7M | $18.5M | $134.0M | $1.4M | — | View 990 |
| 2014 | $18.9M | $18.1M | $139.0M | $557K | — | View 990 |
| 2013 | $18.5M | $17.7M | $133.5M | $576K | — | View 990 |
| 2012 | $19.5M | $16.1M | $126.4M | $1.8M | — | View 990 |
| 2011 | $17.4M | $16.2M | $122.8M | $2.7M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $15.0M, expenses of $22.7M, and assets of $137.6M (revenue -3.6% year-over-year).
- 2022: Revenue of $15.6M, expenses of $21.5M, and assets of $135.0M (revenue -11.1% year-over-year).
- 2021: Revenue of $17.5M, expenses of $19.1M, and assets of $157.5M (revenue +35.3% year-over-year).
- 2020: Revenue of $13.0M, expenses of $19.0M, and assets of $135.4M (revenue -29.4% year-over-year).
- 2019: Revenue of $18.4M, expenses of $21.6M, and assets of $136.7M (revenue +15.9% year-over-year).
- 2018: Revenue of $15.8M, expenses of $19.0M, and assets of $140.2M (revenue -33.5% year-over-year).
- 2017: Revenue of $23.8M, expenses of $19.1M, and assets of $136.4M (revenue -37.8% year-over-year).
- 2016: Revenue of $38.3M, expenses of $19.4M, and assets of $129.3M (revenue +43.5% year-over-year).
- 2015: Revenue of $26.7M, expenses of $18.5M, and assets of $134.0M (revenue +41.6% year-over-year).
- 2014: Revenue of $18.9M, expenses of $18.1M, and assets of $139.0M (revenue +1.9% year-over-year).
- 2013: Revenue of $18.5M, expenses of $17.7M, and assets of $133.5M (revenue -5.2% year-over-year).
- 2012: Revenue of $19.5M, expenses of $16.1M, and assets of $126.4M (revenue +12.3% year-over-year).
- 2011: Revenue of $17.4M, expenses of $16.2M, and assets of $122.8M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Fresh Air Fund:
Data Sources and Methodology
This transparency report for Fresh Air Fund 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.