Granito Family Foundation
Granito Family Foundation's assets have declined by over 87% since 2012 due to consistent expenses exceeding revenue.
EIN: 202916599 · Stamford, CT · NTEE: T20 · Updated: 2026-03-28
Is Granito Family Foundation Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Granito Family Foundation directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Granito Family Foundation
Granito Family Foundation (EIN: 202916599) is a nonprofit organization based in Stamford, CT, classified under NTEE code T20. The organization reported total revenue of $266K and total assets of $42K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Granito Family Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Granito Family Foundation is a small nonprofit that has been operating for 21 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -10.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $8K |
| Total Expenses | $76K |
| Surplus / Deficit | $-67,779 |
| Total Assets | $89K |
| Total Liabilities | $1 |
| Net Assets | $89K |
| Operating Margin | -851.1% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 14.2 months |
Financial Health Grade: B
In 2023, Granito Family Foundation reported a deficit of $68K with expenses exceeding revenue, holds 14.2 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), Granito Family Foundation's revenue has declined at a compound annual growth rate (CAGR) of -10.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | -111.9% | +77.1% | -27.7% |
| 2021 | -43.1% | -26.9% | -10.6% |
| 2020 | -47.5% | -9.0% | -11.8% |
| 2019 | -25.7% | -63.0% | -50.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2005 |
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 Granito Family 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: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Granito 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 $68K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The Granito Family Foundation reports 0% officer compensation across all available filings, indicating that no executive salaries are paid, which is a strong positive for resource allocation directly to the 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 Granito Family Foundation's IRS 990 filings:
- Consistent and significant net losses, with expenses frequently far exceeding revenue (e.g., 2023: $7,964 revenue vs. $75,743 expenses).
- Rapid depletion of assets, declining from $732,939 in 2012 to $89,350 in 2023.
- Negative revenue reported in 2022 ($-903), which is unusual and warrants further investigation.
- Lack of detailed spending breakdown (program, admin, fundraising) in the provided summary, making efficiency analysis difficult.
Strengths
The following positive indicators were identified for Granito Family Foundation:
- 0% officer compensation reported across all filings, indicating no executive salaries are paid.
- Minimal to no liabilities reported, suggesting prudent debt management.
Frequently Asked Questions about Granito Family Foundation
Is Granito Family Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Granito Family Foundation (EIN: 202916599) significant concerns. Mission Score: 45/100. 4 red flags identified, 2 strengths noted.
How does Granito Family Foundation spend its money?
Granito Family Foundation directs 75% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Granito Family Foundation tax-deductible?
Granito Family Foundation is registered as a tax-exempt nonprofit (EIN: 202916599). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What is the Granito Family Foundation's primary program activity?
The provided NTEE code T20 indicates 'Foundations & Giving Programs', but specific program activities are not detailed in the financial summary. Further investigation into their Form 990, Part III, Statement of Program Service Accomplishments would be necessary.
How does the organization plan to address its declining asset base?
The financial data shows a consistent decline in assets from $732,939 in 2012 to $89,350 in 2023. The organization's strategy to reverse this trend or sustain operations with a diminishing asset base is not evident from the provided information.
What is the source of the significant revenue fluctuations, including negative revenue in 2022?
Revenue has been highly volatile, ranging from $423,561 in 2012 to a negative $903 in 2022. Understanding the nature of these revenue streams (e.g., investment income, donations) and the cause of negative revenue is crucial for assessing financial stability.
Filing History
IRS 990 filing history for Granito Family Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Granito Family Foundation's revenue has declined by 73.7%, moving from $30K to $8K. Total assets decreased by 83.3% over the same period, from $535K to $89K. Total functional expenses fell by 37%, from $120K to $76K. In its most recent filing year (2023), Granito Family Foundation reported a deficit of $68K, with expenses exceeding revenue. The organization holds $1 in liabilities against $89K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $89K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $8K | $76K | $89K | $1 | — | — |
| 2022 | $-903 | $59K | $157K | $1 | — | View 990 |
| 2021 | $8K | $34K | $217K | $1 | — | — |
| 2020 | $13K | $46K | $243K | $1 | — | — |
| 2019 | $25K | $50K | $276K | $1 | — | View 990 |
| 2015 | $34K | $136K | $560K | $0 | — | View 990 |
| 2014 | $71K | $84K | $664K | $0 | — | View 990 |
| 2013 | $42K | $77K | $689K | $0 | — | View 990 |
| 2012 | $424K | $212K | $733K | $0 | — | View 990 |
| 2011 | $30K | $120K | $535K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $8K, expenses of $76K, and assets of $89K.
- 2022: Revenue of $-903, expenses of $59K, and assets of $157K (revenue -111.9% year-over-year).
- 2021: Revenue of $8K, expenses of $34K, and assets of $217K (revenue -43.1% year-over-year).
- 2020: Revenue of $13K, expenses of $46K, and assets of $243K (revenue -47.5% year-over-year).
- 2019: Revenue of $25K, expenses of $50K, and assets of $276K (revenue -25.7% year-over-year).
- 2015: Revenue of $34K, expenses of $136K, and assets of $560K (revenue -51.8% year-over-year).
- 2014: Revenue of $71K, expenses of $84K, and assets of $664K (revenue +71.4% year-over-year).
- 2013: Revenue of $42K, expenses of $77K, and assets of $689K (revenue -90.2% year-over-year).
- 2012: Revenue of $424K, expenses of $212K, and assets of $733K (revenue +1297.2% year-over-year).
- 2011: Revenue of $30K, expenses of $120K, and assets of $535K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Granito Family Foundation:
Data Sources and Methodology
This transparency report for Granito 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.