Gem Foundation Inc
Gem Foundation Inc. faces significant financial challenges with declining revenue and consistent operational deficits, drawing down assets.
EIN: 208856858 · Far Hills, NJ · NTEE: T20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $315K |
| Total Expenses | $353K |
| Program Spending | 70% |
| Net Assets | $5.9M |
| Transparency Score | 55/100 |
Is Gem Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Gem Foundation Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Gem Foundation Inc
Gem Foundation Inc (EIN: 208856858) is a nonprofit organization based in Far Hills, NJ, classified under NTEE code T20. The organization reported total revenue of $315K and total assets of $6.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Gem Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Gem Foundation Inc 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 -6.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $292K |
| Total Expenses | $353K |
| Surplus / Deficit | $-61,134 |
| Total Assets | $5.9M |
| Total Liabilities | $1 |
| Net Assets | $5.9M |
| Operating Margin | -20.9% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 199.9 months |
Financial Health Grade: B
In 2023, Gem Foundation Inc reported a deficit of $61K with expenses exceeding revenue, holds 199.9 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), Gem Foundation Inc's revenue has declined at a compound annual growth rate (CAGR) of -6.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +221.3% | -12.2% | -1.0% |
| 2022 | +13917.3% | +289.0% | -5.0% |
| 2021 | -98.2% | -84.3% | -1.6% |
| 2020 | -76.5% | +116.4% | -8.9% |
| 2019 | -99.0% | -76.5% | -61.2% |
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 Gem Foundation Inc 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: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Gem Foundation Inc allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $61K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that no officers receive compensation, which is highly favorable for an organization of its size and asset base.
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 Gem Foundation Inc's IRS 990 filings:
- Significant and sustained decline in revenue from $15.2M in 2015 to $0.29M in 2023.
- Consistent operational deficits where expenses exceed revenue in recent years (e.g., 2023, 2022, 2021, 2020).
- Substantial depletion of assets from $17.9M in 2015 to $5.8M in 2023.
Strengths
The following positive indicators were identified for Gem Foundation Inc:
- Consistent reporting of 0% officer compensation, indicating strong financial transparency in this area.
- Maintains a substantial asset base of over $5.8 million, despite recent declines.
Frequently Asked Questions about Gem Foundation Inc
Is Gem Foundation Inc a legitimate charity?
Gem Foundation Inc (EIN: 208856858) is a registered tax-exempt nonprofit based in New Jersey. Our AI analysis gives it a Mission Score of 55/100. It has 10 years of IRS 990 filings on record. Total revenue: $315K. 3 red flags identified. 2 strengths noted. Financial health grade: B.
How does Gem Foundation Inc spend its money?
Gem Foundation Inc directs 70% of its spending to programs and services. Fundraising costs 10%. This meets the 65% industry benchmark.
Are donations to Gem Foundation Inc tax-deductible?
Gem Foundation Inc is registered as a tax-exempt nonprofit (EIN: 208856858). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Gem Foundation Inc's spending goes to programs?
Gem Foundation Inc directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
How does Gem Foundation Inc compare to similar nonprofits?
With a transparency score of 55/100 (Fair), Gem Foundation Inc 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 Gem Foundation Inc located?
Gem Foundation Inc is headquartered in Far Hills, New Jersey and files with the IRS under EIN 208856858. It is classified under NTEE code T20.
How many years of IRS 990 filings does Gem Foundation Inc have?
Gem Foundation Inc 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 $315K in total revenue.
What is the primary cause of the significant decline in revenue since 2015?
The filings do not specify the exact cause, but revenue dropped from $15,207,831 in 2015 to $292,327 in 2023, suggesting a major shift in funding sources or operational strategy.
How does Gem Foundation Inc. plan to address its consistent operational deficits?
The IRS 990 filings show expenses exceeding revenue in recent years (e.g., $353,461 expenses vs. $292,327 revenue in 2023), but do not detail specific plans to rectify this trend.
What is the organization's strategy for replenishing its significantly depleted assets?
Assets have decreased from $17,986,436 in 2015 to $5,889,409 in 2023. The filings do not outline a strategy for asset growth or preservation.
Filing History
IRS 990 filing history for Gem Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Gem Foundation Inc's revenue has declined by 54.1%, moving from $637K to $292K. Total assets increased by 333.8% over the same period, from $1.4M to $5.9M. Total functional expenses fell by 50.1%, from $708K to $353K. In its most recent filing year (2023), Gem Foundation Inc reported a deficit of $61K, with expenses exceeding revenue. The organization holds $1 in liabilities against $5.9M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $5.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $292K | $353K | $5.9M | $1 | — | View 990 |
| 2022 | $91K | $403K | $6.0M | $1 | — | View 990 |
| 2021 | $649 | $103K | $6.3M | $1 | — | View 990 |
| 2020 | $35K | $658K | $6.4M | $1 | — | View 990 |
| 2019 | $151K | $304K | $7.0M | $1 | — | View 990 |
| 2015 | $15.2M | $1.3M | $18.0M | $1 | — | View 990 |
| 2014 | $2.6M | $1.4M | $4.1M | $0 | — | View 990 |
| 2013 | $1.9M | $1.3M | $2.9M | $0 | — | View 990 |
| 2012 | $2.4M | $1.5M | $2.3M | $0 | — | View 990 |
| 2011 | $637K | $708K | $1.4M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $292K, expenses of $353K, and assets of $5.9M (revenue +221.3% year-over-year).
- 2022: Revenue of $91K, expenses of $403K, and assets of $6.0M (revenue +13917.3% year-over-year).
- 2021: Revenue of $649, expenses of $103K, and assets of $6.3M (revenue -98.2% year-over-year).
- 2020: Revenue of $35K, expenses of $658K, and assets of $6.4M (revenue -76.5% year-over-year).
- 2019: Revenue of $151K, expenses of $304K, and assets of $7.0M (revenue -99.0% year-over-year).
- 2015: Revenue of $15.2M, expenses of $1.3M, and assets of $18.0M (revenue +491.0% year-over-year).
- 2014: Revenue of $2.6M, expenses of $1.4M, and assets of $4.1M (revenue +37.2% year-over-year).
- 2013: Revenue of $1.9M, expenses of $1.3M, and assets of $2.9M (revenue -23.3% year-over-year).
- 2012: Revenue of $2.4M, expenses of $1.5M, and assets of $2.3M (revenue +284.0% year-over-year).
- 2011: Revenue of $637K, expenses of $708K, and assets of $1.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Gem Foundation Inc:
Data Sources and Methodology
This transparency report for Gem Foundation 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.