K2 Fam Foundation
K2 Fam Foundation shows fluctuating revenues and consistent zero officer compensation amidst growing assets.
EIN: 207124990 · Boston, MA · NTEE: T23 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.7M |
| Total Expenses | $508K |
| Program Spending | 70% |
| CEO/Top Officer Pay | $3.7 |
| Net Assets | $4.5M |
| Transparency Score | 65/100 |
Is K2 Fam Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
K2 Fam Foundation directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About K2 Fam Foundation
K2 Fam Foundation (EIN: 207124990) is a nonprofit organization based in Boston, MA, classified under NTEE code T23. The organization reported total revenue of $2.7M and total assets of $3.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of K2 Fam Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
K2 Fam Foundation is a mid-size nonprofit that has been operating for 19 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 17.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $243K |
| Total Expenses | $508K |
| Surplus / Deficit | $-265,326 |
| Total Assets | $4.5M |
| Total Liabilities | $1 |
| Net Assets | $4.5M |
| Operating Margin | -109.4% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 106.0 months |
Financial Health Grade: B
In 2023, K2 Fam Foundation reported a deficit of $265K with expenses exceeding revenue, holds 106.0 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), K2 Fam Foundation's revenue has grown at a compound annual growth rate (CAGR) of 17.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | -100.4% | +225.1% | -8.4% |
| 2021 | +403.6% | -41.3% | +12.8% |
| 2020 | +96.5% | -37.4% | -1.9% |
| 2019 | +141.7% | +207.5% | +134.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2007 |
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 K2 Fam Foundation with a Mission Score of 65 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: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, K2 Fam Foundation allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $265K, 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 the organization's leadership is either entirely volunteer-based or compensated through other means not categorized as officer compensation, which is highly unusual for an organization with assets nearing $3.7 million.
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 K2 Fam Foundation's IRS 990 filings:
- Inconsistent and highly fluctuating annual revenues, including negative revenue in 2022.
- Expenses frequently exceeding revenue, indicating reliance on asset drawdowns for operations.
- Lack of detailed expense breakdown (program, admin, fundraising) in provided data, hindering efficiency assessment.
- Consistent zero officer compensation for an organization with significant assets, which can sometimes mask compensation under other categories or indicate potential over-reliance on unpaid labor for a large operation.
Strengths
The following positive indicators were identified for K2 Fam Foundation:
- Consistent filing of IRS 990s, indicating good transparency.
- Growing asset base over the long term, providing financial stability.
- Extremely low liabilities, demonstrating strong financial management and minimal debt.
- Consistent reporting of zero officer compensation, suggesting low administrative overhead in this specific category.
Frequently Asked Questions about K2 Fam Foundation
Is K2 Fam Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, K2 Fam Foundation (EIN: 207124990) some concerns. Mission Score: 65/100. 4 red flags identified, 4 strengths noted.
How does K2 Fam Foundation spend its money?
K2 Fam Foundation directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to K2 Fam Foundation tax-deductible?
K2 Fam Foundation is registered as a tax-exempt nonprofit (EIN: 207124990). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the K2 Fam Foundation CEO make?
K2 Fam Foundation's highest-compensated officer earns $3.7 annually. The organization reported $2.7M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of K2 Fam Foundation's spending goes to programs?
K2 Fam Foundation directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
How does K2 Fam Foundation compare to similar nonprofits?
With a transparency score of 65/100 (Good), K2 Fam Foundation is above average for NTEE category T23 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is K2 Fam Foundation located?
K2 Fam Foundation is headquartered in Boston, Massachusetts and files with the IRS under EIN 207124990. It is classified under NTEE code T23.
How many years of IRS 990 filings does K2 Fam Foundation have?
K2 Fam 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 $2.7M in total revenue.
Why has K2 Fam Foundation reported negative revenue in some years, such as $-4,671 in 2022?
Negative revenue can occur due to various reasons, such as significant returns of contributions, adjustments for prior period revenue, or investment losses exceeding other income. Further investigation into the specific line items on the IRS 990 for those years would be necessary to pinpoint the exact cause.
How does K2 Fam Foundation sustain operations with expenses frequently exceeding revenue, as seen in 2023 ($507,883 expenses vs. $242,557 revenue)?
When expenses exceed revenue, organizations typically draw from their accumulated assets or reserves to cover the deficit. The foundation's growing asset base suggests it has sufficient reserves to manage these operational shortfalls in the short term, but this trend is not sustainable indefinitely without increased revenue or reduced expenses.
What is the specific breakdown of program, administrative, and fundraising expenses for K2 Fam Foundation?
The provided data does not offer a detailed breakdown of expenses into program, administrative, and fundraising categories. This information is crucial for assessing the organization's spending efficiency and how effectively it directs funds towards its mission.
Given the consistent zero officer compensation, how is the organization's leadership structured and compensated?
The consistent reporting of zero officer compensation suggests a volunteer-led board or executive team. If there are paid staff, their compensation is likely categorized under other salaries and wages, not as officer compensation, which is a common practice for smaller or volunteer-driven organizations.
What are the primary sources of revenue for K2 Fam Foundation, given the significant fluctuations year-over-year?
The significant fluctuations in revenue suggest a reliance on variable funding sources, which could include large individual donations, grants, or investment income. A detailed review of the IRS 990's Statement of Revenue would clarify the specific types and consistency of income streams.
Filing History
IRS 990 filing history for K2 Fam Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), K2 Fam Foundation's revenue has grown by 556.5%, moving from $37K to $243K. Total assets increased by 144.5% over the same period, from $1.8M to $4.5M. Total functional expenses rose by 785%, from $57K to $508K. In its most recent filing year (2023), K2 Fam Foundation reported a deficit of $265K, with expenses exceeding revenue. The organization holds $1 in liabilities against $4.5M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $4.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $243K | $508K | $4.5M | $1 | — | View 990 |
| 2022 | $-4,671 | $547K | $4.7M | $1 | — | View 990 |
| 2021 | $1.3M | $168K | $5.2M | $1 | — | View 990 |
| 2020 | $262K | $287K | $4.6M | $1 | — | — |
| 2019 | $133K | $459K | $4.7M | $0 | — | View 990 |
| 2015 | $55K | $149K | $2.0M | $3K | — | View 990 |
| 2014 | $484K | $124K | $2.1M | $0 | — | View 990 |
| 2013 | $37K | $103K | $1.8M | $74K | — | View 990 |
| 2012 | $14K | $67K | $1.8M | $19K | — | View 990 |
| 2011 | $37K | $57K | $1.8M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $243K, expenses of $508K, and assets of $4.5M.
- 2022: Revenue of $-4,671, expenses of $547K, and assets of $4.7M (revenue -100.4% year-over-year).
- 2021: Revenue of $1.3M, expenses of $168K, and assets of $5.2M (revenue +403.6% year-over-year).
- 2020: Revenue of $262K, expenses of $287K, and assets of $4.6M (revenue +96.5% year-over-year).
- 2019: Revenue of $133K, expenses of $459K, and assets of $4.7M (revenue +141.7% year-over-year).
- 2015: Revenue of $55K, expenses of $149K, and assets of $2.0M (revenue -88.6% year-over-year).
- 2014: Revenue of $484K, expenses of $124K, and assets of $2.1M (revenue +1200.9% year-over-year).
- 2013: Revenue of $37K, expenses of $103K, and assets of $1.8M (revenue +170.7% year-over-year).
- 2012: Revenue of $14K, expenses of $67K, and assets of $1.8M (revenue -62.8% year-over-year).
- 2011: Revenue of $37K, expenses of $57K, and assets of $1.8M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for K2 Fam Foundation:
Data Sources and Methodology
This transparency report for K2 Fam 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.