Herman Goldman Foundation Inc
Herman Goldman Foundation consistently spends more than its annual revenue, drawing down significant assets over the past decade.
EIN: 136066039 · Wilmington, DE · Updated: 2026-03-28
Is Herman Goldman Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Herman Goldman Foundation Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Herman Goldman Foundation Inc
Herman Goldman Foundation Inc (EIN: 136066039) is a nonprofit organization based in Wilmington, DE. The organization reported total revenue of $5.7M and total assets of $12.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Herman Goldman Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Herman Goldman Foundation Inc is a mid-size nonprofit that has been operating for 82 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -10.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $820K |
| Total Expenses | $1.4M |
| Surplus / Deficit | $-553,453 |
| Total Assets | $14.0M |
| Total Liabilities | $414K |
| Net Assets | $13.6M |
| Operating Margin | -67.5% |
| Debt-to-Asset Ratio | 3.0% |
| Months of Reserves | 122.4 months |
Financial Health Grade: B
In 2023, Herman Goldman Foundation Inc reported a deficit of $553K with expenses exceeding revenue, holds 122.4 months of operating reserves (strong position), has a debt-to-asset ratio of 3.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Herman Goldman Foundation Inc's revenue has declined at a compound annual growth rate (CAGR) of -10.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -17.8% | -0.7% | -13.9% |
| 2022 | +289.1% | +1.0% | -4.2% |
| 2021 | -76.9% | -11.4% | +4.3% |
| 2020 | -43.0% | +3.4% | -9.7% |
| 2019 | +99.5% | -8.1% | -10.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1944 |
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 Herman Goldman Foundation Inc with a Mission Score of 85 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: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Herman Goldman Foundation Inc allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. 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 deficit of $553K, with expenses exceeding revenue.
- Debt-to-asset ratio: 3.0%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, which is highly unusual for an organization managing millions in assets and expenses. This suggests either a fully volunteer-run leadership, compensation being paid by a related entity, or that the foundation's structure does not involve directly compensated officers, which would contribute to high spending efficiency.
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 Herman Goldman Foundation Inc's IRS 990 filings:
- Consistent decline in assets over the past decade, from over $20 million to $11.9 million, without clear explanation of sustainability strategy.
- Lack of detailed expense breakdown (program vs. admin) in the provided summary makes a precise efficiency assessment difficult.
- NTEE code is unknown, limiting understanding of its specific charitable purpose.
Strengths
The following positive indicators were identified for Herman Goldman Foundation Inc:
- Zero reported officer compensation across all filings, indicating high efficiency in leadership costs.
- Consistent grant-making activity, with expenses often exceeding revenue, demonstrating active philanthropic distributions.
- Maintains a substantial asset base ($11,977,246) to support its mission.
- Consistent filing of IRS Form 990s, indicating good regulatory compliance and transparency.
Frequently Asked Questions about Herman Goldman Foundation Inc
Is Herman Goldman Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Herman Goldman Foundation Inc (EIN: 136066039) some concerns. Mission Score: 85/100. 3 red flags identified, 4 strengths noted.
How does Herman Goldman Foundation Inc spend its money?
Herman Goldman Foundation Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Herman Goldman Foundation Inc tax-deductible?
Herman Goldman Foundation Inc is registered as a tax-exempt nonprofit (EIN: 136066039). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is the Herman Goldman Foundation Inc. a good charity?
Based on the available data, the foundation appears to be a well-managed grant-making entity with a strong commitment to its mission, as evidenced by its consistent distributions (expenses often exceeding revenue) and zero reported officer compensation. Its substantial asset base allows for significant philanthropic activity.
Why are the assets declining?
The decline in assets from over $20 million in 2014 to $11,977,246 currently, while expenses consistently exceed revenue, suggests the foundation is either spending down its endowment to fulfill its mission or experiencing investment returns that do not fully cover its distributions and operational costs.
What is the foundation's primary focus?
Without the NTEE code or detailed program expense descriptions, the specific programmatic focus cannot be determined from the provided financial data alone. However, its consistent grant-making activity indicates a commitment to supporting other charitable endeavors.
How does the foundation fund its operations if expenses often exceed revenue?
The foundation primarily funds its operations and grant-making through its substantial asset base. When annual expenses (e.g., $1,373,508 in 2023) exceed annual revenue (e.g., $820,055 in 2023), the difference is covered by drawing down from its accumulated assets.
Filing History
IRS 990 filing history for Herman Goldman Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Herman Goldman Foundation Inc's revenue has declined by 74.7%, moving from $3.2M to $820K. Total assets decreased by 28.4% over the same period, from $19.6M to $14.0M. Total functional expenses fell by 9.4%, from $1.5M to $1.4M. In its most recent filing year (2023), Herman Goldman Foundation Inc reported a deficit of $553K, with expenses exceeding revenue. The organization holds $414K in liabilities against $14.0M in assets (debt-to-asset ratio: 3.0%), resulting in net assets of $13.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $820K | $1.4M | $14.0M | $414K | — | View 990 |
| 2022 | $998K | $1.4M | $16.3M | $446K | — | View 990 |
| 2021 | $257K | $1.4M | $17.0M | $527K | — | View 990 |
| 2020 | $1.1M | $1.5M | $16.3M | $440K | — | — |
| 2019 | $1.9M | $1.5M | $18.0M | $364K | — | View 990 |
| 2015 | $977K | $1.6M | $20.1M | $429K | — | View 990 |
| 2014 | $3.2M | $1.7M | $20.8M | $420K | — | View 990 |
| 2013 | $2.7M | $1.6M | $19.3M | $413K | — | View 990 |
| 2012 | $26K | $1.5M | $18.1M | $304K | — | View 990 |
| 2011 | $3.2M | $1.5M | $19.6M | $299K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $820K, expenses of $1.4M, and assets of $14.0M (revenue -17.8% year-over-year).
- 2022: Revenue of $998K, expenses of $1.4M, and assets of $16.3M (revenue +289.1% year-over-year).
- 2021: Revenue of $257K, expenses of $1.4M, and assets of $17.0M (revenue -76.9% year-over-year).
- 2020: Revenue of $1.1M, expenses of $1.5M, and assets of $16.3M (revenue -43.0% year-over-year).
- 2019: Revenue of $1.9M, expenses of $1.5M, and assets of $18.0M (revenue +99.5% year-over-year).
- 2015: Revenue of $977K, expenses of $1.6M, and assets of $20.1M (revenue -69.0% year-over-year).
- 2014: Revenue of $3.2M, expenses of $1.7M, and assets of $20.8M (revenue +16.6% year-over-year).
- 2013: Revenue of $2.7M, expenses of $1.6M, and assets of $19.3M (revenue +10400.0% year-over-year).
- 2012: Revenue of $26K, expenses of $1.5M, and assets of $18.1M (revenue -99.2% year-over-year).
- 2011: Revenue of $3.2M, expenses of $1.5M, and assets of $19.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Herman Goldman Foundation Inc:
Data Sources and Methodology
This transparency report for Herman Goldman 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.