Honor Bound Foundation Inc
Honor Bound Foundation Inc. faces severe financial decline with persistent operating deficits and shrinking assets.
EIN: 133102064 · Darien Stamford, CT · NTEE: P20 · Updated: 2026-03-28
Is Honor Bound Foundation Inc Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Honor Bound Foundation Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Honor Bound Foundation Inc
Honor Bound Foundation Inc (EIN: 133102064) is a nonprofit organization based in Darien Stamford, CT, classified under NTEE code P20. The organization reported total revenue of $140K and total assets of $14K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Honor Bound Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Honor Bound Foundation Inc is a small nonprofit that has been operating for 45 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -29.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $161K |
| Total Expenses | $480K |
| Surplus / Deficit | $-319,959 |
| Total Assets | $532K |
| Total Liabilities | $13K |
| Net Assets | $519K |
| Operating Margin | -199.3% |
| Debt-to-Asset Ratio | 2.4% |
| Months of Reserves | 13.3 months |
Financial Health Grade: B
In 2023, Honor Bound Foundation Inc reported a deficit of $320K with expenses exceeding revenue, holds 13.3 months of operating reserves (strong position), has a debt-to-asset ratio of 2.4% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Honor Bound Foundation Inc's revenue has declined at a compound annual growth rate (CAGR) of -29.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -57.8% | -26.7% | -40.4% |
| 2022 | +24.8% | +5.0% | -41.2% |
| 2021 | -74.6% | -69.6% | -1.3% |
| 2020 | -70.2% | -58.3% | -41.1% |
| 2019 | -53.9% | -34.2% | -24.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1981 |
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 Honor Bound Foundation Inc 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, Honor Bound Foundation Inc 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 $320K, with expenses exceeding revenue.
- Debt-to-asset ratio: 2.4%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, which is a strong positive for transparency and suggests that no officers are receiving salaries from the organization, potentially reducing administrative burden in this area.
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 Honor Bound Foundation Inc's IRS 990 filings:
- Consistent and significant operating deficits for multiple years (e.g., $160,508 revenue vs. $480,467 expenses in 2023).
- Dramatic decline in annual revenue from $9.5 million in 2016 to $160,508 in 2023.
- Substantial decrease in total assets from $3.47 million in 2018 to $532,151 in 2023, indicating asset depletion.
- Expenses consistently exceeding revenue, raising concerns about financial sustainability.
Strengths
The following positive indicators were identified for Honor Bound Foundation Inc:
- Consistent reporting of 0% officer compensation, indicating no salaries paid to executives from the organization's funds.
- Long filing history (13 filings) suggests a commitment to IRS compliance and transparency in reporting.
Frequently Asked Questions about Honor Bound Foundation Inc
Is Honor Bound Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Honor Bound Foundation Inc (EIN: 133102064) significant concerns. Mission Score: 45/100. 4 red flags identified, 2 strengths noted.
How does Honor Bound Foundation Inc spend its money?
Honor Bound Foundation Inc directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Honor Bound Foundation Inc tax-deductible?
Honor Bound Foundation Inc is registered as a tax-exempt nonprofit (EIN: 133102064). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What caused the dramatic decline in revenue from $9.5 million in 2016 to $160,508 in 2023?
The provided data shows a precipitous drop in revenue, but the specific reasons are not detailed in the summary. This would require a deeper dive into the organization's Form 990s to understand changes in funding sources or operational strategies.
How does Honor Bound Foundation Inc. plan to address its consistent operating deficits?
The organization has consistently spent more than it earned for several years, leading to a significant depletion of assets. The filings do not provide insight into their strategy to reverse this trend and achieve financial sustainability.
What is the detailed breakdown of program, administrative, and fundraising expenses?
While the summary provides overall expenses, a detailed breakdown is crucial for assessing spending efficiency. Without this, it's difficult to determine if the majority of funds are going towards their stated mission.
Is the organization at risk of insolvency given its declining assets and persistent deficits?
With assets decreasing from over $3.4 million in 2018 to $532,151 in 2023, and liabilities of $13,027 in 2023, coupled with significant annual deficits, the organization's long-term financial viability appears to be at risk.
Filing History
IRS 990 filing history for Honor Bound Foundation Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Honor Bound Foundation Inc's revenue has declined by 98.6%, moving from $11.2M to $161K. Total assets decreased by 63.3% over the same period, from $1.4M to $532K. Total functional expenses fell by 95.6%, from $11.0M to $480K. In its most recent filing year (2023), Honor Bound Foundation Inc reported a deficit of $320K, with expenses exceeding revenue. The organization holds $13K in liabilities against $532K in assets (debt-to-asset ratio: 2.4%), resulting in net assets of $519K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $161K | $480K | $532K | $13K | — | View 990 |
| 2022 | $380K | $656K | $893K | $33K | — | View 990 |
| 2021 | $305K | $625K | $1.5M | $125K | — | View 990 |
| 2020 | $1.2M | $2.1M | $1.5M | $88K | — | — |
| 2019 | $4.0M | $4.9M | $2.6M | $355K | — | View 990 |
| 2018 | $8.7M | $7.5M | $3.5M | $335K | — | View 990 |
| 2017 | $8.5M | $7.9M | $1.6M | $313K | — | View 990 |
| 2016 | $9.5M | $8.6M | $1.2M | $470K | — | — |
| 2015 | $9.2M | $9.0M | $733K | $884K | — | View 990 |
| 2014 | $8.0M | $8.0M | $608K | $827K | — | View 990 |
| 2013 | $8.5M | $9.0M | $528K | $684K | — | View 990 |
| 2012 | $9.1M | $9.6M | $892K | $505K | — | View 990 |
| 2011 | $11.2M | $11.0M | $1.4M | $595K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $161K, expenses of $480K, and assets of $532K (revenue -57.8% year-over-year).
- 2022: Revenue of $380K, expenses of $656K, and assets of $893K (revenue +24.8% year-over-year).
- 2021: Revenue of $305K, expenses of $625K, and assets of $1.5M (revenue -74.6% year-over-year).
- 2020: Revenue of $1.2M, expenses of $2.1M, and assets of $1.5M (revenue -70.2% year-over-year).
- 2019: Revenue of $4.0M, expenses of $4.9M, and assets of $2.6M (revenue -53.9% year-over-year).
- 2018: Revenue of $8.7M, expenses of $7.5M, and assets of $3.5M (revenue +3.4% year-over-year).
- 2017: Revenue of $8.5M, expenses of $7.9M, and assets of $1.6M (revenue -11.1% year-over-year).
- 2016: Revenue of $9.5M, expenses of $8.6M, and assets of $1.2M (revenue +3.5% year-over-year).
- 2015: Revenue of $9.2M, expenses of $9.0M, and assets of $733K (revenue +14.7% year-over-year).
- 2014: Revenue of $8.0M, expenses of $8.0M, and assets of $608K (revenue -5.5% year-over-year).
- 2013: Revenue of $8.5M, expenses of $9.0M, and assets of $528K (revenue -6.9% year-over-year).
- 2012: Revenue of $9.1M, expenses of $9.6M, and assets of $892K (revenue -18.5% year-over-year).
- 2011: Revenue of $11.2M, expenses of $11.0M, and assets of $1.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Honor Bound Foundation Inc:
Data Sources and Methodology
This transparency report for Honor Bound 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.