Hyde Family Charitable Fund
Hyde Family Charitable Fund reports zero officer compensation but experienced a $5 million deficit in 2023 amidst highly volatile revenue.
EIN: 161502229 · Buffalo, NY · NTEE: T21Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $6.1M |
| Total Expenses | $15.9M |
| Program Spending | 90% |
| Net Assets | $3.8M |
| Transparency Score | 75/100 |
Is Hyde Family Charitable Fund Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Hyde Family Charitable Fund directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Hyde Family Charitable Fund
Hyde Family Charitable Fund (EIN: 161502229) is a nonprofit organization based in Buffalo, NY, classified under NTEE code T21Z. The organization reported total revenue of $6.1M and total assets of $5.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Hyde Family Charitable Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Hyde Family Charitable Fund is a mid-size nonprofit that has been operating for 30 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 47.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $10.8M |
| Total Expenses | $15.9M |
| Surplus / Deficit | $-5,068,374 |
| Total Assets | $3.8M |
| Total Liabilities | $20K |
| Net Assets | $3.8M |
| Operating Margin | -47.0% |
| Debt-to-Asset Ratio | 0.5% |
| Months of Reserves | 2.9 months |
Financial Health Grade: C
In 2023, Hyde Family Charitable Fund reported a deficit of $5.1M with expenses exceeding revenue, holds 2.9 months of operating reserves (limited), has a debt-to-asset ratio of 0.5% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Hyde Family Charitable Fund's revenue has grown at a compound annual growth rate (CAGR) of 47.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +3256.1% | +3183.4% | -26.5% |
| 2022 | -76.6% | +11.6% | +0.1% |
| 2021 | +3269.2% | +16.6% | +21.0% |
| 2020 | -84.9% | +21.4% | -6.7% |
| 2019 | +12.8% | +82.6% | +13.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1996 |
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 Hyde Family Charitable Fund with a Mission Score of 75 out of 100 (Good). 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, Hyde Family Charitable Fund 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 deficit of $5.1M, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.5%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating a highly efficient and likely volunteer-led executive structure, which is commendable for a fund of its size.
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 Hyde Family Charitable Fund's IRS 990 filings:
- Significant $5 million deficit in 2023 (Expenses $15,853,307 vs. Revenue $10,784,933).
- Highly volatile revenue and expense figures year-over-year, making financial trends difficult to assess.
- Decrease in assets from $5,202,377 in 2022 to $3,821,959 in 2023, potentially due to the 2023 deficit.
Strengths
The following positive indicators were identified for Hyde Family Charitable Fund:
- Consistent reporting of 0% officer compensation across all filings, indicating efficient executive management.
- Maintained a substantial asset base, generally above $3.8 million, providing financial stability.
- Long filing history (10 filings) suggests consistent operation and compliance.
Frequently Asked Questions about Hyde Family Charitable Fund
Is Hyde Family Charitable Fund a legitimate charity?
Hyde Family Charitable Fund (EIN: 161502229) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 75/100. It has 10 years of IRS 990 filings on record. Total revenue: $6.1M. 3 red flags identified. 3 strengths noted. Financial health grade: C.
How does Hyde Family Charitable Fund spend its money?
Hyde Family Charitable Fund directs 90% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Hyde Family Charitable Fund tax-deductible?
Hyde Family Charitable Fund is registered as a tax-exempt nonprofit (EIN: 161502229). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Hyde Family Charitable Fund's spending goes to programs?
Hyde Family Charitable Fund directs 90% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Hyde Family Charitable Fund compare to similar nonprofits?
With a transparency score of 75/100 (Good), Hyde Family Charitable Fund is above average for NTEE category T21Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Hyde Family Charitable Fund located?
Hyde Family Charitable Fund is headquartered in Buffalo, New York and files with the IRS under EIN 161502229. It is classified under NTEE code T21Z.
How many years of IRS 990 filings does Hyde Family Charitable Fund have?
Hyde Family Charitable Fund 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 $6.1M in total revenue.
What caused the significant increase in revenue and expenses in 2023, and the subsequent $5 million deficit?
The 2023 filing shows revenue of $10,784,933 and expenses of $15,853,307, a dramatic increase from prior years. This large deficit and activity spike require further explanation from the organization regarding specific grants, investments, or operational changes.
How does the organization plan to address the $5 million deficit incurred in 2023?
The deficit led to a decrease in assets from $5,202,377 in 2022 to $3,821,959 in 2023. Understanding the strategy to recover from this financial position is crucial for assessing long-term sustainability.
What is the specific breakdown of program, administrative, and fundraising expenses?
While officer compensation is zero, a detailed breakdown of other expenses is needed to fully assess spending efficiency beyond the executive level. The provided data does not offer this granularity.
Filing History
IRS 990 filing history for Hyde Family Charitable Fund showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Hyde Family Charitable Fund's revenue has grown by 10094.5%, moving from $106K to $10.8M. Total assets decreased by 11.7% over the same period, from $4.3M to $3.8M. Total functional expenses rose by 6293.9%, from $248K to $15.9M. In its most recent filing year (2023), Hyde Family Charitable Fund reported a deficit of $5.1M, with expenses exceeding revenue. The organization holds $20K in liabilities against $3.8M in assets (debt-to-asset ratio: 0.5%), resulting in net assets of $3.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $10.8M | $15.9M | $3.8M | $20K | — | — |
| 2022 | $321K | $483K | $5.2M | $172K | — | View 990 |
| 2021 | $1.4M | $433K | $5.2M | $5K | — | View 990 |
| 2020 | $41K | $371K | $4.3M | $23K | — | — |
| 2019 | $270K | $306K | $4.6M | $0 | — | View 990 |
| 2015 | $239K | $167K | $4.1M | $0 | — | View 990 |
| 2014 | $298K | $332K | $4.0M | $0 | — | View 990 |
| 2013 | $164K | $367K | $4.0M | $0 | — | View 990 |
| 2012 | $225K | $337K | $4.2M | $0 | — | View 990 |
| 2011 | $106K | $248K | $4.3M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $10.8M, expenses of $15.9M, and assets of $3.8M (revenue +3256.1% year-over-year).
- 2022: Revenue of $321K, expenses of $483K, and assets of $5.2M (revenue -76.6% year-over-year).
- 2021: Revenue of $1.4M, expenses of $433K, and assets of $5.2M (revenue +3269.2% year-over-year).
- 2020: Revenue of $41K, expenses of $371K, and assets of $4.3M (revenue -84.9% year-over-year).
- 2019: Revenue of $270K, expenses of $306K, and assets of $4.6M (revenue +12.8% year-over-year).
- 2015: Revenue of $239K, expenses of $167K, and assets of $4.1M (revenue -19.7% year-over-year).
- 2014: Revenue of $298K, expenses of $332K, and assets of $4.0M (revenue +81.4% year-over-year).
- 2013: Revenue of $164K, expenses of $367K, and assets of $4.0M (revenue -27.2% year-over-year).
- 2012: Revenue of $225K, expenses of $337K, and assets of $4.2M (revenue +113.1% year-over-year).
- 2011: Revenue of $106K, expenses of $248K, and assets of $4.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Hyde Family Charitable Fund:
Data Sources and Methodology
This transparency report for Hyde Family Charitable Fund 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.