Howard Hoffman And Sons Foundation Inc

Howard Hoffman And Sons Foundation Inc faces significant financial instability with recurring deficits and negative assets in recent years.

EIN: 200089283 · North Bergen, NJ · NTEE: T22 · Updated: 2026-03-28

$407KRevenue

$55KAssets

45/100Mission Score (Fair)

T22

About Howard Hoffman And Sons Foundation Inc

Howard Hoffman And Sons Foundation Inc (EIN: 200089283) is a nonprofit organization based in North Bergen, NJ, classified under NTEE code T22. The organization reported total revenue of $407K and total assets of $55K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Howard Hoffman And Sons Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

The Howard Hoffman And Sons Foundation Inc exhibits inconsistent financial performance and concerning asset trends. In 2023, the organization reported revenue of $187,300 against expenses of $527,102, resulting in a significant deficit and negative assets of $-36,944. This follows a similar pattern in 2022 where expenses ($872,607) far exceeded revenue ($127,701). While there was a strong revenue year in 2021 ($1,766,499), the subsequent years show a struggle to maintain financial stability. The organization consistently reports $0 in officer compensation, which can be a positive indicator of resource allocation to programs, but the overall financial health is undermined by the recurring deficits and fluctuating asset base. The lack of detailed expense breakdowns in the provided data makes a precise assessment of spending efficiency challenging beyond the high-level revenue-to-expense ratio.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Howard Hoffman And Sons 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: 15%
programs: 80%
fundraising: 5%

According to IRS 990 filings, Howard Hoffman And Sons Foundation Inc allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

The organization consistently reports 0% officer compensation across all available filings, indicating that no funds are allocated to executive salaries, which is a positive sign for resource allocation.

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 Howard Hoffman And Sons Foundation Inc's IRS 990 filings:

Negative assets reported in 2023 ($-36,944), indicating severe financial distress.
Consistent and significant operating deficits in recent years (e.g., 2023: $187,300 revenue vs. $527,102 expenses; 2022: $127,701 revenue vs. $872,607 expenses).
Highly volatile revenue streams, making financial planning and sustainability challenging.
Lack of detailed expense breakdown in provided data makes it difficult to fully assess spending efficiency.

Strengths

The following positive indicators were identified for Howard Hoffman And Sons Foundation Inc:

Consistently reports 0% officer compensation, indicating no executive salaries are paid.
Demonstrated ability to generate substantial revenue in some years (e.g., $1,766,499 in 2021).

Frequently Asked Questions about Howard Hoffman And Sons Foundation Inc

Why did the organization's assets become negative in 2023?

In 2023, the organization reported assets of $-36,944, a significant decline from $302,858 in 2022. This is primarily due to expenses ($527,102) far exceeding revenue ($187,300) in that period, depleting any reserves.

What caused the large fluctuations in revenue between 2021 and 2023?

Revenue peaked at $1,766,499 in 2021, then dropped sharply to $127,701 in 2022 and $187,300 in 2023. The provided data does not specify the source of these revenues, making it difficult to pinpoint the exact cause of such volatility.

How does the organization cover its expenses when revenue is consistently lower?

In periods like 2023 and 2022, where expenses significantly outstripped revenue, the organization appears to be drawing down on prior year assets or incurring liabilities, as evidenced by the negative asset balance in 2023.

Filing History

IRS 990 filing history for Howard Hoffman And Sons Foundation Inc showing financial trends over 9 years of public records:

Over 9 years of IRS 990 filings (2011–2023), Howard Hoffman And Sons Foundation Inc's revenue has grown by 98.4%, moving from $94K to $187K. Total assets decreased by 5092.4% over the same period, from $740 to $-36,944. Total functional expenses rose by 171.2%, from $194K to $527K. In its most recent filing year (2023), Howard Hoffman And Sons Foundation Inc reported a deficit of $340K, with expenses exceeding revenue.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$187K	$527K	$-36,944	$1	—	View 990
2022	$128K	$873K	$303K	$1	—	View 990
2021	$1.8M	$760K	$1.0M	$1	—	View 990
2020	$528K	$492K	$41K	$1	—	View 990
2019	$308K	$398K	$5K	$1	—	—
2015	$164K	$192K	$4K	$1	—	View 990
2014	$320K	$293K	$31K	$1	—	View 990
2012	$286K	$281K	$6K	$0	—	View 990
2011	$94K	$194K	$740	$0	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $187K, expenses of $527K, and assets of $-36,944 (revenue +46.7% year-over-year).
2022: Revenue of $128K, expenses of $873K, and assets of $303K (revenue -92.8% year-over-year).
2021: Revenue of $1.8M, expenses of $760K, and assets of $1.0M (revenue +234.6% year-over-year).
2020: Revenue of $528K, expenses of $492K, and assets of $41K (revenue +71.4% year-over-year).
2019: Revenue of $308K, expenses of $398K, and assets of $5K (revenue +87.8% year-over-year).
2015: Revenue of $164K, expenses of $192K, and assets of $4K (revenue -48.8% year-over-year).
2014: Revenue of $320K, expenses of $293K, and assets of $31K (revenue +11.8% year-over-year).
2012: Revenue of $286K, expenses of $281K, and assets of $6K (revenue +203.4% year-over-year).
2011: Revenue of $94K, expenses of $194K, and assets of $740.

Data Sources and Methodology

This transparency report for Howard Hoffman And Sons 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.