Igh Charitable Foundation Inc
Igh Charitable Foundation consistently operates at a deficit, relying on substantial assets to fund operations.
EIN: 202931753 · Barnegat Lgt, NJ · NTEE: T20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $3.4M |
| Total Expenses | $465K |
| Program Spending | 80% |
| Net Assets | $9.0M |
| Transparency Score | 75/100 |
Is Igh Charitable Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Igh Charitable Foundation Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Igh Charitable Foundation Inc
Igh Charitable Foundation Inc (EIN: 202931753) is a nonprofit organization based in Barnegat Lgt, NJ, classified under NTEE code T20. The organization reported total revenue of $3.4M and total assets of $9.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Igh Charitable Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Igh Charitable Foundation Inc is a mid-size nonprofit that has been operating for 21 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 5.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $311K |
| Total Expenses | $465K |
| Surplus / Deficit | $-154,566 |
| Total Assets | $9.0M |
| Total Liabilities | $1 |
| Net Assets | $9.0M |
| Operating Margin | -49.7% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 232.0 months |
Financial Health Grade: B
In 2023, Igh Charitable Foundation Inc reported a deficit of $155K with expenses exceeding revenue, holds 232.0 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), Igh Charitable Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 5.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +7.8% | -7.0% | +12.0% |
| 2022 | -58.3% | -9.5% | -20.0% |
| 2020 | -112.5% | -8.4% | +3.7% |
| 2019 | +2.6% | -21.9% | +7.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2005 |
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 Igh Charitable Foundation Inc 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Igh Charitable 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.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $155K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that officers are either uncompensated or compensated through non-officer channels, which is a positive indicator for donor trust given the organization's asset 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 Igh Charitable Foundation Inc's IRS 990 filings:
- Consistent operational deficits, with expenses frequently exceeding revenue (e.g., $465,457 expenses vs. $310,891 revenue in 2023).
- Negative revenue reported in 2020 (-$61,220), which could indicate significant investment losses or unusual financial adjustments.
Strengths
The following positive indicators were identified for Igh Charitable Foundation Inc:
- Strong and stable asset base, consistently between $8 million and $10 million, providing financial resilience.
- Zero reported officer compensation across all filings, indicating efficient use of funds or volunteer leadership.
- Minimal liabilities ($1 reported consistently), suggesting sound financial management and low debt risk.
Frequently Asked Questions about Igh Charitable Foundation Inc
Is Igh Charitable Foundation Inc a legitimate charity?
Igh Charitable Foundation Inc (EIN: 202931753) is a registered tax-exempt nonprofit based in New Jersey. Our AI analysis gives it a Mission Score of 75/100. It has 10 years of IRS 990 filings on record. Total revenue: $3.4M. 2 red flags identified. 3 strengths noted. Financial health grade: B.
How does Igh Charitable Foundation Inc spend its money?
Igh Charitable Foundation Inc directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Igh Charitable Foundation Inc tax-deductible?
Igh Charitable Foundation Inc is registered as a tax-exempt nonprofit (EIN: 202931753). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Igh Charitable Foundation Inc's spending goes to programs?
Igh Charitable Foundation Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Igh Charitable Foundation Inc compare to similar nonprofits?
With a transparency score of 75/100 (Good), Igh Charitable Foundation Inc is above average for NTEE category T20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Igh Charitable Foundation Inc located?
Igh Charitable Foundation Inc is headquartered in Barnegat Lgt, New Jersey and files with the IRS under EIN 202931753. It is classified under NTEE code T20.
How many years of IRS 990 filings does Igh Charitable Foundation Inc have?
Igh Charitable Foundation Inc 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 $3.4M in total revenue.
Is Igh Charitable Foundation Inc a good charity?
The Igh Charitable Foundation Inc appears to be a good charity in terms of its asset base and lack of officer compensation. However, its consistent operational deficits, where expenses frequently exceed revenue (e.g., $465,457 expenses vs. $310,891 revenue in 2023), warrant closer examination of its long-term funding strategy.
How does the foundation sustain itself with recurring deficits?
The foundation sustains itself by drawing from its substantial asset base, which has consistently been between $8 million and $10 million. This allows it to cover expenses even when annual revenue falls short, as seen in multiple years including 2023 and 2022.
What is the nature of the 'Officer Comp=0%' reporting?
The 'Officer Comp=0%' reporting suggests that the organization's officers are either volunteers, or their compensation is categorized differently within the 990 form, not as direct officer compensation. This is generally viewed positively as it implies a high degree of dedication or efficient use of funds.
Filing History
IRS 990 filing history for Igh Charitable Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Igh Charitable Foundation Inc's revenue has grown by 91.7%, moving from $162K to $311K. Total assets increased by 6.2% over the same period, from $8.5M to $9.0M. Total functional expenses rose by 25.3%, from $372K to $465K. In its most recent filing year (2023), Igh Charitable Foundation Inc reported a deficit of $155K, with expenses exceeding revenue. The organization holds $1 in liabilities against $9.0M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $9.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $311K | $465K | $9.0M | $1 | — | — |
| 2022 | $288K | $501K | $8.0M | $1 | — | View 990 |
| 2021 | $692K | $553K | $10.0M | $1 | — | View 990 |
| 2020 | $-61,220 | $448K | $9.3M | $1 | — | — |
| 2019 | $489K | $489K | $9.0M | $1 | — | View 990 |
| 2015 | $477K | $626K | $8.4M | $1 | — | View 990 |
| 2014 | $537K | $624K | $9.3M | $1 | — | View 990 |
| 2013 | $737K | $573K | $9.5M | $1 | — | View 990 |
| 2012 | $276K | $515K | $8.8M | $1 | — | View 990 |
| 2011 | $162K | $372K | $8.5M | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $311K, expenses of $465K, and assets of $9.0M (revenue +7.8% year-over-year).
- 2022: Revenue of $288K, expenses of $501K, and assets of $8.0M (revenue -58.3% year-over-year).
- 2021: Revenue of $692K, expenses of $553K, and assets of $10.0M.
- 2020: Revenue of $-61,220, expenses of $448K, and assets of $9.3M (revenue -112.5% year-over-year).
- 2019: Revenue of $489K, expenses of $489K, and assets of $9.0M (revenue +2.6% year-over-year).
- 2015: Revenue of $477K, expenses of $626K, and assets of $8.4M (revenue -11.2% year-over-year).
- 2014: Revenue of $537K, expenses of $624K, and assets of $9.3M (revenue -27.2% year-over-year).
- 2013: Revenue of $737K, expenses of $573K, and assets of $9.5M (revenue +167.5% year-over-year).
- 2012: Revenue of $276K, expenses of $515K, and assets of $8.8M (revenue +70.0% year-over-year).
- 2011: Revenue of $162K, expenses of $372K, and assets of $8.5M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Igh Charitable Foundation Inc:
Data Sources and Methodology
This transparency report for Igh Charitable 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.