Hagan Foundation
Hagan Foundation faces severe financial instability with expenses consistently dwarfing revenue in recent years.
EIN: 203757753 · Wilmington, DE · NTEE: T22 · Updated: 2026-03-28
Is Hagan Foundation Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Hagan Foundation directs 60% of its spending to programs. This falls below the 65% benchmark. Donors may want to investigate further.
About Hagan Foundation
Hagan Foundation (EIN: 203757753) is a nonprofit organization based in Wilmington, DE, classified under NTEE code T22. The organization reported total revenue of $98K and total assets of $33K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Hagan Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Hagan Foundation is a micro nonprofit that has been operating for 20 years, with 8 years of IRS 990 filings on record (2011–2021). Revenue has grown at a compound annual rate of -28.8%.
Key Financial Metrics (2021)
From the most recent IRS 990 filing on record:
| Total Revenue | $2K |
| Total Expenses | $408K |
| Surplus / Deficit | $-406,370 |
| Total Assets | $135K |
| Total Liabilities | $1 |
| Net Assets | $135K |
| Operating Margin | -26770.1% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 4.0 months |
Financial Health Grade: B
In 2021, Hagan Foundation reported a deficit of $406K with expenses exceeding revenue, holds 4.0 months of operating reserves (adequate), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 8 years of filings (2011–2021), Hagan Foundation's revenue has declined at a compound annual growth rate (CAGR) of -28.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2021 | -61.0% | -43.5% | -75.1% |
| 2020 | -99.7% | +7304.0% | -57.0% |
| 2019 | +315.1% | -95.9% | +1455.8% |
| 2015 | +9801.5% | -40.7% | +373.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2006 |
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 Hagan Foundation with a Mission Score of 35 out of 100 (Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 30%
- programs: 60%
- fundraising: 10%
According to IRS 990 filings, Hagan Foundation allocates its expenses as follows: admin: 30%, programs: 60%, fundraising: 10%. Approximately 60% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2021)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $406K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating either a fully volunteer-led structure or that executive compensation is not being reported in a standard manner for an organization of its size and expense levels.
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 Hagan Foundation's IRS 990 filings:
- Severe and consistent deficit spending in recent years (e.g., 2021 expenses $407,888 vs. revenue $1,518).
- Highly volatile revenue streams, with significant drops after 2019.
- Unusual and consistent reporting of $1 in liabilities across all filings.
- Significant decline in assets from $1,519,889 in 2011 to $33,232 currently, indicating asset depletion.
- Lack of clear financial sustainability given the current revenue and expense trends.
Strengths
The following positive indicators were identified for Hagan Foundation:
- No reported officer compensation, potentially indicating a volunteer-driven model or efficient use of funds for leadership.
Frequently Asked Questions about Hagan Foundation
Is Hagan Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Hagan Foundation (EIN: 203757753) significant concerns. Mission Score: 35/100. 5 red flags identified, 1 strength noted.
How does Hagan Foundation spend its money?
Hagan Foundation directs 60% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Hagan Foundation tax-deductible?
Hagan Foundation is registered as a tax-exempt nonprofit (EIN: 203757753). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does the Hagan Foundation sustain operations with such a significant and consistent disparity between revenue and expenses, as seen in 2021 (Revenue $1,518, Expenses $407,888) and 2020 (Revenue $3,897, Expenses $721,443)?
The consistent and large deficits suggest reliance on prior year assets, significant one-time grants not reflected in annual revenue, or unsustainable operational practices. This pattern is a major concern for long-term viability.
What caused the dramatic fluctuation in revenue, particularly the spike to $1,247,936 in 2019 compared to other years with revenues often below $5,000?
The 2019 revenue spike likely represents a significant one-time grant or donation that is not typical of the foundation's usual funding streams, highlighting an inconsistent funding model.
Why are liabilities consistently reported as $1 across all eight available IRS 990 filings?
This consistent reporting of $1 in liabilities is highly unusual for any operating organization and could indicate an error in reporting, a specific legal structure where liabilities are minimal, or a lack of transparency regarding actual financial obligations.
Given the substantial expenses in many years (e.g., $811,205 in 2012), how are these expenses being covered without reported officer compensation?
The absence of reported officer compensation suggests that key leadership roles may be filled by volunteers, or that compensation is structured in a way that it is not reported as officer compensation on the 990, which could impact transparency.
Filing History
IRS 990 filing history for Hagan Foundation showing financial trends over 8 years of public records:
Over 8 years of IRS 990 filings (2011–2021), Hagan Foundation's revenue has declined by 96.6%, moving from $45K to $2K. Total assets decreased by 91.1% over the same period, from $1.5M to $135K. Total functional expenses rose by 28.6%, from $317K to $408K. In its most recent filing year (2021), Hagan Foundation reported a deficit of $406K, with expenses exceeding revenue. The organization holds $1 in liabilities against $135K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $135K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2021 | $2K | $408K | $135K | $1 | — | View 990 |
| 2020 | $4K | $721K | $541K | $1 | — | View 990 |
| 2019 | $1.2M | $10K | $1.3M | $1 | — | View 990 |
| 2015 | $301K | $237K | $81K | $1 | — | View 990 |
| 2014 | $3K | $400K | $17K | $1 | — | View 990 |
| 2013 | $-4,435 | $318K | $414K | $1 | — | View 990 |
| 2012 | $27K | $811K | $736K | $1 | — | View 990 |
| 2011 | $45K | $317K | $1.5M | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2021: Revenue of $2K, expenses of $408K, and assets of $135K (revenue -61.0% year-over-year).
- 2020: Revenue of $4K, expenses of $721K, and assets of $541K (revenue -99.7% year-over-year).
- 2019: Revenue of $1.2M, expenses of $10K, and assets of $1.3M (revenue +315.1% year-over-year).
- 2015: Revenue of $301K, expenses of $237K, and assets of $81K (revenue +9801.5% year-over-year).
- 2014: Revenue of $3K, expenses of $400K, and assets of $17K.
- 2013: Revenue of $-4,435, expenses of $318K, and assets of $414K (revenue -116.5% year-over-year).
- 2012: Revenue of $27K, expenses of $811K, and assets of $736K (revenue -40.5% year-over-year).
- 2011: Revenue of $45K, expenses of $317K, and assets of $1.5M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Hagan Foundation:
Data Sources and Methodology
This transparency report for Hagan 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.