Goodfriend Foundation
Goodfriend Foundation faces persistent operating deficits and declining assets over the past decade.
EIN: 203791086 · Knoxville, TN · NTEE: T20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $3.2M |
| Total Expenses | $471K |
| Program Spending | 70% |
| Net Assets | $3.2M |
| Transparency Score | 45/100 |
Is Goodfriend Foundation Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Goodfriend Foundation directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Goodfriend Foundation
Goodfriend Foundation (EIN: 203791086) is a nonprofit organization based in Knoxville, TN, classified under NTEE code T20. The organization reported total revenue of $3.2M and total assets of $3.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Goodfriend Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Goodfriend Foundation is a mid-size nonprofit that has been operating for 18 years, with 10 years of IRS 990 filings on record (2011–2023).
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $332K |
| Total Expenses | $471K |
| Surplus / Deficit | $-138,397 |
| Total Assets | $3.2M |
| Total Liabilities | $1 |
| Net Assets | $3.2M |
| Operating Margin | -41.7% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 81.0 months |
Financial Health Grade: B
In 2023, Goodfriend Foundation reported a deficit of $138K with expenses exceeding revenue, holds 81.0 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | -125.0% | -40.4% | -10.9% |
| 2021 | -35.4% | -15.6% | -11.8% |
| 2020 | -61.5% | -18.2% | -11.4% |
| 2019 | +462.0% | +117.0% | -15.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2008 |
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 Goodfriend Foundation with a Mission Score of 45 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, Goodfriend Foundation 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 $138K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers or key employees are receiving salaries from the foundation, which is highly unusual 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 Goodfriend Foundation's IRS 990 filings:
- Consistent operating deficits, with expenses frequently exceeding revenue.
- Significant decline in total assets over the past decade, from $6M to $3.1M.
- Negative revenue reported in multiple years (e.g., 2022, 2011), indicating potential investment losses or significant returns.
- Lack of detailed expense breakdown (program, admin, fundraising) in the provided data, hindering efficiency analysis.
Strengths
The following positive indicators were identified for Goodfriend Foundation:
- Zero officer compensation reported, indicating no direct financial benefit to executives.
- Minimal liabilities, suggesting no significant debt burden.
Frequently Asked Questions about Goodfriend Foundation
Is Goodfriend Foundation a legitimate charity?
Goodfriend Foundation (EIN: 203791086) is a registered tax-exempt nonprofit based in Tennessee. Our AI analysis gives it a Mission Score of 45/100. It has 10 years of IRS 990 filings on record. Total revenue: $3.2M. 4 red flags identified. 2 strengths noted. Financial health grade: B.
How does Goodfriend Foundation spend its money?
Goodfriend Foundation directs 70% of its spending to programs and services. Fundraising costs 10%. This meets the 65% industry benchmark.
Are donations to Goodfriend Foundation tax-deductible?
Goodfriend Foundation is registered as a tax-exempt nonprofit (EIN: 203791086). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Goodfriend Foundation's spending goes to programs?
Goodfriend Foundation directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
How does Goodfriend Foundation compare to similar nonprofits?
With a transparency score of 45/100 (Fair), Goodfriend 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 Goodfriend Foundation located?
Goodfriend Foundation is headquartered in Knoxville, Tennessee and files with the IRS under EIN 203791086. It is classified under NTEE code T20.
How many years of IRS 990 filings does Goodfriend Foundation have?
Goodfriend 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 $3.2M in total revenue.
Is Goodfriend Foundation financially sustainable given its consistent operating deficits?
The foundation has consistently spent more than it has brought in, drawing down its assets from over $6 million in 2011 to $3.1 million in 2023. This trend is not sustainable long-term without a significant increase in revenue or reduction in expenses.
What is the reason for the negative revenue reported in 2022 and 2011?
Negative revenue figures, such as $-32,527 in 2022 and $-71,591 in 2011, typically indicate a net loss from investments or other non-contribution income sources, or significant returns/allowances that exceeded gross revenue.
How does the foundation cover its expenses with such low and often negative revenue?
The foundation appears to be covering its expenses by liquidating or drawing down its asset base, as evidenced by the significant decline in total assets over the filing periods.
What are the specific program activities funded by the Goodfriend Foundation?
The provided data, specifically the NTEE code T20 (Philanthropy, Voluntarism, and Grantmaking Foundations), indicates it is a grantmaking foundation, but specific program activities or beneficiaries are not detailed in the financial summary.
Filing History
IRS 990 filing history for Goodfriend Foundation showing financial trends over 10 years of public records:
Total assets decreased by 47.6% over the same period, from $6.1M to $3.2M. Total functional expenses fell by 9.9%, from $523K to $471K. In its most recent filing year (2023), Goodfriend Foundation reported a deficit of $138K, with expenses exceeding revenue. The organization holds $1 in liabilities against $3.2M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $3.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $332K | $471K | $3.2M | $1 | — | View 990 |
| 2022 | $-32,527 | $375K | $3.3M | $1 | — | View 990 |
| 2021 | $130K | $630K | $3.7M | $1 | — | View 990 |
| 2020 | $201K | $747K | $4.2M | $1 | — | — |
| 2019 | $523K | $913K | $4.8M | $1 | — | — |
| 2015 | $93K | $421K | $5.6M | $0 | — | View 990 |
| 2014 | $690K | $717K | $6.0M | $0 | — | View 990 |
| 2013 | $678K | $530K | $6.0M | $0 | — | View 990 |
| 2012 | $308K | $476K | $5.9M | $0 | — | View 990 |
| 2011 | $-71,591 | $523K | $6.1M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $332K, expenses of $471K, and assets of $3.2M.
- 2022: Revenue of $-32,527, expenses of $375K, and assets of $3.3M (revenue -125.0% year-over-year).
- 2021: Revenue of $130K, expenses of $630K, and assets of $3.7M (revenue -35.4% year-over-year).
- 2020: Revenue of $201K, expenses of $747K, and assets of $4.2M (revenue -61.5% year-over-year).
- 2019: Revenue of $523K, expenses of $913K, and assets of $4.8M (revenue +462.0% year-over-year).
- 2015: Revenue of $93K, expenses of $421K, and assets of $5.6M (revenue -86.5% year-over-year).
- 2014: Revenue of $690K, expenses of $717K, and assets of $6.0M (revenue +1.7% year-over-year).
- 2013: Revenue of $678K, expenses of $530K, and assets of $6.0M (revenue +120.0% year-over-year).
- 2012: Revenue of $308K, expenses of $476K, and assets of $5.9M.
- 2011: Revenue of $-71,591, expenses of $523K, and assets of $6.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Goodfriend Foundation:
Data Sources and Methodology
This transparency report for Goodfriend 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.