Hagerty Family Foundation
Hagerty Family Foundation maintains strong assets and zero executive compensation despite fluctuating revenues.
EIN: 200509132 · Cambridge, MA · NTEE: T22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.6M |
| Total Expenses | $1.4M |
| Program Spending | 90% |
| Net Assets | $5.8M |
| Transparency Score | 92/100 |
Is Hagerty Family Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Hagerty Family Foundation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Hagerty Family Foundation
Hagerty Family Foundation (EIN: 200509132) is a nonprofit organization based in Cambridge, MA, classified under NTEE code T22. The organization reported total revenue of $1.6M and total assets of $6.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Hagerty Family Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Hagerty Family Foundation is a mid-size nonprofit that has been operating for 22 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 15.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.4M |
| Total Expenses | $1.4M |
| Surplus / Deficit | +$1.0M |
| Total Assets | $5.8M |
| Total Liabilities | $1 |
| Net Assets | $5.8M |
| Operating Margin | 42.6% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 50.6 months |
Financial Health Grade: A
In 2023, Hagerty Family Foundation reported a surplus of $1.0M with revenue exceeding expenses, holds 50.6 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), Hagerty Family Foundation's revenue has grown at a compound annual growth rate (CAGR) of 15.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +1230.9% | +6.5% | +16.3% |
| 2022 | -94.4% | -23.1% | -40.7% |
| 2021 | -19.5% | +14.0% | +16.9% |
| 2020 | +414.7% | +179.1% | +54.0% |
| 2019 | -64.4% | -49.7% | +203.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2004 |
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 Hagerty Family Foundation with a Mission Score of 92 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 5%
- programs: 90%
- fundraising: 5%
According to IRS 990 filings, Hagerty Family Foundation allocates its expenses as follows: admin: 5%, programs: 90%, fundraising: 5%. With 90% 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 surplus of $1.0M, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers or directors received compensation from the foundation, which is a strong positive for resource allocation to its 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 Hagerty Family Foundation's IRS 990 filings:
- Significant year-over-year revenue volatility (e.g., $3.2M in 2021 to $178K in 2022), which could impact long-term planning if not managed with a robust endowment.
Strengths
The following positive indicators were identified for Hagerty Family Foundation:
- Zero reported officer compensation across all filings, indicating high efficiency in directing funds to mission.
- Consistently low liabilities ($0 or $1 across all filings), demonstrating strong financial stability.
- Healthy and growing asset base, reaching $5,750,747 in 2023, providing a strong foundation for future activities.
- Strong program focus implied by the absence of executive compensation and NTEE code for grantmaking.
Frequently Asked Questions about Hagerty Family Foundation
Is Hagerty Family Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Hagerty Family Foundation (EIN: 200509132) some concerns. Mission Score: 92/100. 1 red flag identified, 4 strengths noted.
How does Hagerty Family Foundation spend its money?
Hagerty Family Foundation directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Hagerty Family Foundation tax-deductible?
Hagerty Family Foundation is registered as a tax-exempt nonprofit (EIN: 200509132). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Hagerty Family Foundation's spending goes to programs?
Hagerty Family Foundation directs 90% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Hagerty Family Foundation compare to similar nonprofits?
With a transparency score of 92/100 (Excellent), Hagerty Family Foundation is above average for NTEE category T22 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Hagerty Family Foundation located?
Hagerty Family Foundation is headquartered in Cambridge, Massachusetts and files with the IRS under EIN 200509132. It is classified under NTEE code T22.
How many years of IRS 990 filings does Hagerty Family Foundation have?
Hagerty 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 $1.6M in total revenue.
Is Hagerty Family Foundation a good charity?
Based on the available IRS 990 data, the Hagerty Family Foundation appears to be a very good charity. It consistently reports zero officer compensation, maintains a strong asset base, and has very low liabilities, suggesting efficient use of funds and strong financial health.
How does the foundation manage its expenses relative to its revenue?
The foundation's expenses have generally been well below its revenue in most years, allowing for asset growth. For example, in 2023, revenue was $2,373,448 while expenses were $1,362,495. However, there was an exception in 2022 where expenses ($1,278,750) significantly exceeded revenue ($178,328), which could indicate a strategic draw on assets or a year with lower incoming contributions.
What is the trend in the foundation's assets?
The foundation's assets have shown significant growth over the years, from $980,546 in 2011 to $5,750,747 in 2023, peaking at $8,335,619 in 2021. This indicates successful financial management and accumulation of resources for its philanthropic activities.
Filing History
IRS 990 filing history for Hagerty Family Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Hagerty Family Foundation's revenue has grown by 480%, moving from $409K to $2.4M. Total assets increased by 486.5% over the same period, from $981K to $5.8M. Total functional expenses rose by 433%, from $256K to $1.4M. In its most recent filing year (2023), Hagerty Family Foundation reported a surplus of $1.0M, with revenue exceeding expenses. The organization holds $1 in liabilities against $5.8M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $5.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.4M | $1.4M | $5.8M | $1 | — | — |
| 2022 | $178K | $1.3M | $4.9M | $1 | — | View 990 |
| 2021 | $3.2M | $1.7M | $8.3M | $1 | — | View 990 |
| 2020 | $4.0M | $1.5M | $7.1M | $1 | — | View 990 |
| 2019 | $773K | $522K | $4.6M | $1 | — | — |
| 2015 | $2.2M | $1.0M | $1.5M | $1 | — | View 990 |
| 2014 | $119K | $551K | $1.2M | $1 | — | View 990 |
| 2013 | $1.2M | $322K | $1.7M | $1 | — | View 990 |
| 2012 | $1.3M | $673K | $1.9M | $0 | — | View 990 |
| 2011 | $409K | $256K | $981K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.4M, expenses of $1.4M, and assets of $5.8M (revenue +1230.9% year-over-year).
- 2022: Revenue of $178K, expenses of $1.3M, and assets of $4.9M (revenue -94.4% year-over-year).
- 2021: Revenue of $3.2M, expenses of $1.7M, and assets of $8.3M (revenue -19.5% year-over-year).
- 2020: Revenue of $4.0M, expenses of $1.5M, and assets of $7.1M (revenue +414.7% year-over-year).
- 2019: Revenue of $773K, expenses of $522K, and assets of $4.6M (revenue -64.4% year-over-year).
- 2015: Revenue of $2.2M, expenses of $1.0M, and assets of $1.5M (revenue +1725.6% year-over-year).
- 2014: Revenue of $119K, expenses of $551K, and assets of $1.2M (revenue -90.2% year-over-year).
- 2013: Revenue of $1.2M, expenses of $322K, and assets of $1.7M (revenue -6.7% year-over-year).
- 2012: Revenue of $1.3M, expenses of $673K, and assets of $1.9M (revenue +217.4% year-over-year).
- 2011: Revenue of $409K, expenses of $256K, and assets of $981K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Hagerty Family Foundation:
Data Sources and Methodology
This transparency report for Hagerty 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.