Irene Ritter Foundation
Irene Ritter Foundation maintains strong assets and zero executive compensation despite recent deficit spending.
EIN: 134090839 · New York, NY · NTEE: T22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $4.4M |
| Total Expenses | $652K |
| Program Spending | 90% |
| CEO/Top Officer Pay | $7,553,251 |
| Net Assets | $6.2M |
| Transparency Score | 92/100 |
Is Irene Ritter Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Irene Ritter Foundation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Irene Ritter Foundation
Irene Ritter Foundation (EIN: 134090839) is a nonprofit organization based in New York, NY, classified under NTEE code T22. The organization reported total revenue of $4.4M and total assets of $7.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Irene Ritter Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Irene Ritter Foundation is a mid-size nonprofit that has been operating for 26 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -7.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $170K |
| Total Expenses | $652K |
| Surplus / Deficit | $-482,043 |
| Total Assets | $6.2M |
| Total Liabilities | $1 |
| Net Assets | $6.2M |
| Operating Margin | -283.2% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 114.2 months |
Financial Health Grade: B
In 2023, Irene Ritter Foundation reported a deficit of $482K with expenses exceeding revenue, holds 114.2 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), Irene Ritter Foundation's revenue has declined at a compound annual growth rate (CAGR) of -7.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -76.8% | +3.6% | -7.2% |
| 2022 | -7.6% | +9.4% | +1.6% |
| 2021 | -11.1% | +16.8% | +3.4% |
| 2020 | -0.4% | +13.9% | +6.7% |
| 2019 | +237.4% | +10.0% | +13.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2000 |
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 Irene Ritter Foundation with a Mission Score of 92 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, Irene Ritter Foundation 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 $482K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation has consistently been reported as 0% across all available filings, indicating that no officers receive salaries from the foundation, which is highly commendable for an organization of its asset size ($7,553,251).
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 Irene Ritter Foundation's IRS 990 filings:
- Recent deficit spending: In 202311, expenses ($652,230) significantly exceeded revenue ($170,187), though this is offset by substantial assets.
- Lack of detailed expense breakdown prevents full spending efficiency analysis.
Strengths
The following positive indicators were identified for Irene Ritter Foundation:
- Consistent 0% officer compensation, indicating high efficiency and dedication to mission.
- Strong and growing asset base, from $5,230,756 in 2011 to $7,553,251 currently, demonstrating financial stability.
- Minimal liabilities (often $1), indicating sound financial management and low debt.
- Long filing history (10 filings) shows consistent operation and transparency over time.
Frequently Asked Questions about Irene Ritter Foundation
Is Irene Ritter Foundation a legitimate charity?
Irene Ritter Foundation (EIN: 134090839) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 92/100. It has 10 years of IRS 990 filings on record. Total revenue: $4.4M. 2 red flags identified. 4 strengths noted. Financial health grade: B.
How does Irene Ritter Foundation spend its money?
Irene Ritter Foundation directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Irene Ritter Foundation tax-deductible?
Irene Ritter Foundation is registered as a tax-exempt nonprofit (EIN: 134090839). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Irene Ritter Foundation CEO make?
Irene Ritter Foundation's highest-compensated officer earns $7,553,251 annually. The organization reported $4.4M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
How does Irene Ritter Foundation compare to similar nonprofits?
With a transparency score of 92/100 (Excellent), Irene Ritter Foundation is above average for NTEE category T22 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Irene Ritter Foundation located?
Irene Ritter Foundation is headquartered in New York, New York and files with the IRS under EIN 134090839. It is classified under NTEE code T22.
How many years of IRS 990 filings does Irene Ritter Foundation have?
Irene Ritter Foundation 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 $4.4M in total revenue.
What caused the significant increase in 'Latest Revenue' to $4,374,608 compared to the individual filing revenues?
The provided data shows a 'Latest Revenue' of $4,374,608, which is substantially higher than any single year's revenue reported in the filing history (e.g., $170,187 in 202311). This discrepancy could be due to a large one-time donation, an endowment contribution, or the 'Latest Revenue' figure representing a different fiscal period or a cumulative sum not directly comparable to the annual filing data. Further investigation into the specific 990 form for the period corresponding to this 'Latest Revenue' would clarify this.
How does the Irene Ritter Foundation manage to operate with 0% officer compensation?
The consistent reporting of 0% officer compensation suggests that the foundation is either entirely volunteer-run at the executive level, or its officers are compensated through other means not reported as direct officer compensation on the 990, or they are compensated by an affiliated entity. Given its NTEE code (T22 - Grantmaking Foundation), it's plausible that administrative functions are minimal or handled by volunteers, or that it operates with a lean structure focused on grant distribution.
What is the detailed breakdown of program vs. administrative expenses?
The provided data does not offer a detailed breakdown of expenses into program, administrative, and fundraising categories. While the absence of officer compensation is a strong indicator of efficiency, a full understanding of spending efficiency would require access to Part IX of the IRS Form 990, 'Statement of Functional Expenses'.
Filing History
IRS 990 filing history for Irene Ritter Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Irene Ritter Foundation's revenue has declined by 59.7%, moving from $422K to $170K. Total assets increased by 18.6% over the same period, from $5.2M to $6.2M. Total functional expenses rose by 65.7%, from $394K to $652K. In its most recent filing year (2023), Irene Ritter Foundation reported a deficit of $482K, with expenses exceeding revenue. The organization holds $1 in liabilities against $6.2M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $6.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $170K | $652K | $6.2M | $1 | — | View 990 |
| 2022 | $734K | $629K | $6.7M | $1 | — | View 990 |
| 2021 | $795K | $575K | $6.6M | $1 | — | View 990 |
| 2020 | $894K | $493K | $6.4M | $1 | — | View 990 |
| 2019 | $897K | $433K | $6.0M | $1 | — | View 990 |
| 2015 | $266K | $393K | $5.3M | $2K | — | View 990 |
| 2014 | $671K | $344K | $5.4M | $1 | — | View 990 |
| 2013 | $446K | $353K | $5.1M | $1 | — | View 990 |
| 2012 | $144K | $372K | $5.0M | $1 | — | View 990 |
| 2011 | $422K | $394K | $5.2M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $170K, expenses of $652K, and assets of $6.2M (revenue -76.8% year-over-year).
- 2022: Revenue of $734K, expenses of $629K, and assets of $6.7M (revenue -7.6% year-over-year).
- 2021: Revenue of $795K, expenses of $575K, and assets of $6.6M (revenue -11.1% year-over-year).
- 2020: Revenue of $894K, expenses of $493K, and assets of $6.4M (revenue -0.4% year-over-year).
- 2019: Revenue of $897K, expenses of $433K, and assets of $6.0M (revenue +237.4% year-over-year).
- 2015: Revenue of $266K, expenses of $393K, and assets of $5.3M (revenue -60.4% year-over-year).
- 2014: Revenue of $671K, expenses of $344K, and assets of $5.4M (revenue +50.4% year-over-year).
- 2013: Revenue of $446K, expenses of $353K, and assets of $5.1M (revenue +210.8% year-over-year).
- 2012: Revenue of $144K, expenses of $372K, and assets of $5.0M (revenue -66.0% year-over-year).
- 2011: Revenue of $422K, expenses of $394K, and assets of $5.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Irene Ritter Foundation:
Data Sources and Methodology
This transparency report for Irene Ritter Foundation 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.