Gage Family Foundation
Gage Family Foundation's assets have declined by over 50% since 2019 due to consistent operating deficits.
EIN: 204900172 · Minnetonka, MN · NTEE: T20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $167K |
| Total Expenses | $119K |
| Program Spending | 75% |
| Net Assets | $515K |
| Transparency Score | 55/100 |
Is Gage Family Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Gage Family Foundation directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Gage Family Foundation
Gage Family Foundation (EIN: 204900172) is a nonprofit organization based in Minnetonka, MN, classified under NTEE code T20. The organization reported total revenue of $167K and total assets of $609K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Gage Family Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Gage Family Foundation is a small 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 -10.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $64K |
| Total Expenses | $119K |
| Surplus / Deficit | $-55,075 |
| Total Assets | $515K |
| Total Liabilities | $1 |
| Net Assets | $515K |
| Operating Margin | -85.8% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 51.8 months |
Financial Health Grade: B
In 2023, Gage Family Foundation reported a deficit of $55K with expenses exceeding revenue, holds 51.8 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), Gage Family Foundation's revenue has declined at a compound annual growth rate (CAGR) of -10.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -55.4% | -50.2% | +4.8% |
| 2022 | +22.9% | -32.3% | -29.1% |
| 2021 | +52.6% | -9.3% | -23.9% |
| 2020 | -78.2% | +1.4% | -24.0% |
| 2019 | -62.5% | +0.7% | +304.2% |
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 Gage Family Foundation with a Mission Score of 55 out of 100 (Fair). 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: 75%
- fundraising: 10%
According to IRS 990 filings, Gage Family Foundation allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% 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 $55K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The Gage Family Foundation consistently reports 0% officer compensation across all available filings, suggesting that executive leadership is either unpaid or compensated through other means not categorized as officer compensation, which is a positive indicator for minimizing administrative overhead.
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 Gage Family Foundation's IRS 990 filings:
- Consistent operating deficits: Expenses frequently exceed revenue, leading to asset depletion (e.g., 2023: $119,280 expenses vs. $64,205 revenue).
- Significant decline in assets: Assets have decreased by over 50% from $1,196,850 in 2019 to $514,773 in 2023.
- Unsustainable financial trend: The pattern of spending more than earned is not sustainable long-term without a change in revenue generation or expense management.
Strengths
The following positive indicators were identified for Gage Family Foundation:
- Zero officer compensation: No officer compensation reported across all filings, indicating efficient use of funds for leadership or volunteer-based executive roles.
- Low liabilities: Consistently reports minimal liabilities ($1 across all filings), suggesting good debt management.
Frequently Asked Questions about Gage Family Foundation
Is Gage Family Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Gage Family Foundation (EIN: 204900172) some concerns. Mission Score: 55/100. 3 red flags identified, 2 strengths noted.
How does Gage Family Foundation spend its money?
Gage Family Foundation directs 75% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Gage Family Foundation tax-deductible?
Gage Family Foundation is registered as a tax-exempt nonprofit (EIN: 204900172). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Gage Family Foundation's spending goes to programs?
Gage Family Foundation directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Gage Family Foundation compare to similar nonprofits?
With a transparency score of 55/100 (Fair), Gage Family Foundation is near average for NTEE category T20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Gage Family Foundation located?
Gage Family Foundation is headquartered in Minnetonka, Minnesota and files with the IRS under EIN 204900172. It is classified under NTEE code T20.
How many years of IRS 990 filings does Gage Family Foundation have?
Gage Family Foundation 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 $167K in total revenue.
Is the Gage Family Foundation financially sustainable given its consistent operating deficits?
The foundation has consistently spent more than it earned in recent years (e.g., $119,280 expenses vs. $64,205 revenue in 2023), leading to a significant depletion of its assets from $1,196,850 in 2019 to $514,773 in 2023. This trend raises serious concerns about its long-term financial sustainability.
What caused the substantial decline in the foundation's assets?
The primary cause appears to be the recurring operating deficits, where annual expenses have frequently outstripped revenue. For example, in 2021, expenses were $353,805 while revenue was only $117,249, contributing to the asset decline.
How does the foundation fund its operations given the revenue shortfalls?
The foundation has been drawing down its asset base to cover operating expenses. This is evident from the decrease in assets from $1,196,850 in 2019 to $514,773 in 2023, indicating that past reserves are being used to bridge the gap between current revenue and expenses.
Filing History
IRS 990 filing history for Gage Family Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Gage Family Foundation's revenue has declined by 71.8%, moving from $228K to $64K. Total assets increased by 8.5% over the same period, from $475K to $515K. Total functional expenses fell by 50.5%, from $241K to $119K. In its most recent filing year (2023), Gage Family Foundation reported a deficit of $55K, with expenses exceeding revenue. The organization holds $1 in liabilities against $515K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $515K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $64K | $119K | $515K | $1 | — | — |
| 2022 | $144K | $239K | $491K | $1 | — | View 990 |
| 2021 | $117K | $354K | $693K | $1 | — | View 990 |
| 2020 | $77K | $390K | $910K | $1 | — | — |
| 2019 | $353K | $385K | $1.2M | $1 | — | View 990 |
| 2015 | $940K | $382K | $296K | $1 | — | View 990 |
| 2014 | $390K | $568K | $12K | $1 | — | View 990 |
| 2013 | $490K | $273K | $346K | $1 | — | View 990 |
| 2012 | $160K | $234K | $408K | $1 | — | View 990 |
| 2011 | $228K | $241K | $475K | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $64K, expenses of $119K, and assets of $515K (revenue -55.4% year-over-year).
- 2022: Revenue of $144K, expenses of $239K, and assets of $491K (revenue +22.9% year-over-year).
- 2021: Revenue of $117K, expenses of $354K, and assets of $693K (revenue +52.6% year-over-year).
- 2020: Revenue of $77K, expenses of $390K, and assets of $910K (revenue -78.2% year-over-year).
- 2019: Revenue of $353K, expenses of $385K, and assets of $1.2M (revenue -62.5% year-over-year).
- 2015: Revenue of $940K, expenses of $382K, and assets of $296K (revenue +140.7% year-over-year).
- 2014: Revenue of $390K, expenses of $568K, and assets of $12K (revenue -20.3% year-over-year).
- 2013: Revenue of $490K, expenses of $273K, and assets of $346K (revenue +206.7% year-over-year).
- 2012: Revenue of $160K, expenses of $234K, and assets of $408K (revenue -29.8% year-over-year).
- 2011: Revenue of $228K, expenses of $241K, and assets of $475K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Gage Family Foundation:
Data Sources and Methodology
This transparency report for Gage Family Foundation 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.