Joseph R Takats Foundation
Joseph R Takats Foundation's assets are slowly declining as expenses consistently outpace revenue.
EIN: 161098026 · Wilmington, DE · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $966K |
| Total Expenses | $190K |
| Program Spending | 85% |
| Net Assets | $2.4M |
| Transparency Score | 70/100 |
Is Joseph R Takats Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Joseph R Takats Foundation directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Joseph R Takats Foundation
Joseph R Takats Foundation (EIN: 161098026) is a nonprofit organization based in Wilmington, DE. The organization reported total revenue of $966K and total assets of $2.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Joseph R Takats Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Joseph R Takats Foundation is a small nonprofit that has been operating for 48 years, with 9 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -1.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $91K |
| Total Expenses | $190K |
| Surplus / Deficit | $-99,376 |
| Total Assets | $2.4M |
| Total Liabilities | $1 |
| Net Assets | $2.4M |
| Operating Margin | -109.2% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 148.7 months |
Financial Health Grade: B
In 2023, Joseph R Takats Foundation reported a deficit of $99K with expenses exceeding revenue, holds 148.7 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 9 years of filings (2011–2023), Joseph R Takats Foundation's revenue has declined at a compound annual growth rate (CAGR) of -1.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -24.4% | -5.5% | -2.5% |
| 2022 | -63.5% | -11.8% | -4.0% |
| 2021 | +17.8% | +16.9% | +4.5% |
| 2020 | +43.8% | +7.9% | +3.9% |
| 2019 | +58.8% | +0.1% | -11.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1978 |
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 Joseph R Takats Foundation with a Mission Score of 70 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: 85%
- fundraising: 0%
According to IRS 990 filings, Joseph R Takats Foundation allocates its expenses as follows: admin: 15%, programs: 85%, fundraising: 0%. With 85% 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 $99K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that its leadership is either entirely volunteer-based or compensated through non-officer roles, which is highly efficient for a foundation 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 Joseph R Takats Foundation's IRS 990 filings:
- Expenses consistently exceeding revenue in recent periods (e.g., $190,383 expenses vs. $91,007 revenue in 2023), potentially eroding the endowment.
- Slight but consistent decline in total assets over the past few years (from $2,522,743 in 2021 to $2,358,913 in 2023).
Strengths
The following positive indicators were identified for Joseph R Takats Foundation:
- Consistent reporting of 0% officer compensation, indicating highly efficient leadership costs.
- Very low liabilities ($1 in recent years), demonstrating strong financial management and no significant debt.
- Stable asset base, despite recent declines, suggesting a well-established endowment.
Frequently Asked Questions about Joseph R Takats Foundation
Is Joseph R Takats Foundation a legitimate charity?
Joseph R Takats Foundation (EIN: 161098026) is a registered tax-exempt nonprofit based in Delaware. Our AI analysis gives it a Mission Score of 70/100. It has 9 years of IRS 990 filings on record. Total revenue: $966K. 2 red flags identified. 3 strengths noted. Financial health grade: B.
How does Joseph R Takats Foundation spend its money?
Joseph R Takats Foundation directs 85% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Joseph R Takats Foundation tax-deductible?
Joseph R Takats Foundation is registered as a tax-exempt nonprofit (EIN: 161098026). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Joseph R Takats Foundation located?
Joseph R Takats Foundation is headquartered in Wilmington, Delaware and files with the IRS under EIN 161098026.
How many years of IRS 990 filings does Joseph R Takats Foundation have?
Joseph R Takats Foundation has 9 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 $966K in total revenue.
What is the specific mission or program focus of the Joseph R Takats Foundation?
The provided data does not specify the NTEE code or detailed mission, making it difficult to ascertain the exact programmatic focus of the foundation.
Why have expenses consistently exceeded revenue in recent years?
In 2023, expenses were $190,383 while revenue was $91,007, and similar trends are seen in 2022 and 2019. This suggests the foundation is drawing down from its endowment to cover operational costs or grantmaking, rather than relying solely on annual income.
What are the specific categories of expenses for the foundation?
The provided data only gives total expenses. A detailed breakdown into program services, management and general, and fundraising expenses is needed for a comprehensive analysis of spending efficiency.
Filing History
IRS 990 filing history for Joseph R Takats Foundation showing financial trends over 9 years of public records:
Over 9 years of IRS 990 filings (2011–2023), Joseph R Takats Foundation's revenue has declined by 19.8%, moving from $114K to $91K. Total assets decreased by 12.1% over the same period, from $2.7M to $2.4M. Total functional expenses rose by 28.7%, from $148K to $190K. In its most recent filing year (2023), Joseph R Takats Foundation reported a deficit of $99K, with expenses exceeding revenue. The organization holds $1 in liabilities against $2.4M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $2.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $91K | $190K | $2.4M | $1 | — | — |
| 2022 | $120K | $202K | $2.4M | $1 | — | View 990 |
| 2021 | $329K | $228K | $2.5M | $1 | — | View 990 |
| 2020 | $280K | $195K | $2.4M | $1 | — | — |
| 2019 | $194K | $181K | $2.3M | $1 | — | View 990 |
| 2015 | $122K | $181K | $2.6M | $0 | — | View 990 |
| 2013 | $158K | $141K | $2.7M | $0 | — | View 990 |
| 2012 | $111K | $135K | $2.7M | $0 | — | View 990 |
| 2011 | $114K | $148K | $2.7M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $91K, expenses of $190K, and assets of $2.4M (revenue -24.4% year-over-year).
- 2022: Revenue of $120K, expenses of $202K, and assets of $2.4M (revenue -63.5% year-over-year).
- 2021: Revenue of $329K, expenses of $228K, and assets of $2.5M (revenue +17.8% year-over-year).
- 2020: Revenue of $280K, expenses of $195K, and assets of $2.4M (revenue +43.8% year-over-year).
- 2019: Revenue of $194K, expenses of $181K, and assets of $2.3M (revenue +58.8% year-over-year).
- 2015: Revenue of $122K, expenses of $181K, and assets of $2.6M (revenue -22.2% year-over-year).
- 2013: Revenue of $158K, expenses of $141K, and assets of $2.7M (revenue +42.5% year-over-year).
- 2012: Revenue of $111K, expenses of $135K, and assets of $2.7M (revenue -2.6% year-over-year).
- 2011: Revenue of $114K, expenses of $148K, and assets of $2.7M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Joseph R Takats Foundation:
Data Sources and Methodology
This transparency report for Joseph R Takats 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.