Mad River Foundation
Mad River Foundation faces sustained operational deficits despite substantial assets.
EIN: 136097034 · Stamford, CT · Updated: 2026-03-28
Is Mad River Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Mad River Foundation directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Mad River Foundation
Mad River Foundation (EIN: 136097034) is a nonprofit organization based in Stamford, CT. The organization reported total revenue of $32K and total assets of $865K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Mad River Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Mad River Foundation is a micro nonprofit that has been operating for 63 years, with 9 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -8.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $46K |
| Total Expenses | $112K |
| Surplus / Deficit | $-66,257 |
| Total Assets | $798K |
| Total Liabilities | $1 |
| Net Assets | $798K |
| Operating Margin | -143.7% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 85.3 months |
Financial Health Grade: B
In 2023, Mad River Foundation reported a deficit of $66K with expenses exceeding revenue, holds 85.3 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), Mad River Foundation's revenue has declined at a compound annual growth rate (CAGR) of -8.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -14.4% | -20.7% | -7.7% |
| 2022 | -53.5% | +6.6% | -9.2% |
| 2021 | +21.3% | +28.2% | +2.7% |
| 2019 | -16.2% | +5.1% | +3.2% |
| 2015 | +33.9% | +15.7% | +1.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1963 |
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 Mad River 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Mad River Foundation 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 $66K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is consistently reported as $0 across all available filings, indicating a volunteer-led organization or one with no paid officers, which is highly efficient for an organization 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 Mad River Foundation's IRS 990 filings:
- Consistent operational deficits in recent years (e.g., $66,257 deficit in 2023, $87,877 in 2022).
- Declining asset base, suggesting reliance on reserves to cover expenses.
- Significant drop in revenue from $115,863 in 2021 to $46,099 in 2023.
- Unknown NTEE code, hindering mission clarity and comparative analysis.
Strengths
The following positive indicators were identified for Mad River Foundation:
- Zero officer compensation reported across all filings, indicating high efficiency in executive pay.
- No reported liabilities, suggesting good fiscal management of debt.
- Long history of IRS 990 filings, demonstrating consistent transparency.
- Substantial asset base ($798,364 in 2023) provides a buffer despite recent deficits.
Frequently Asked Questions about Mad River Foundation
Is Mad River Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Mad River Foundation (EIN: 136097034) some concerns. Mission Score: 65/100. 4 red flags identified, 4 strengths noted.
How does Mad River Foundation spend its money?
Mad River Foundation directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Mad River Foundation tax-deductible?
Mad River Foundation is registered as a tax-exempt nonprofit (EIN: 136097034). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Mad River Foundation financially sustainable?
Based on recent filings, the foundation has experienced significant operational deficits, with expenses exceeding revenue by $66,257 in 2023 and $87,877 in 2022. This trend raises concerns about long-term financial sustainability if not addressed.
What is the primary mission of Mad River Foundation?
The NTEE code is unknown, making it difficult to ascertain the specific mission from the provided data. Further investigation into their public profile or website would be necessary.
Why are assets decreasing?
Assets have decreased from $952,241 in 2021 to $798,364 in 2023. This decline likely reflects the organization drawing down its reserves to cover the consistent operational deficits experienced in recent years.
How does Mad River Foundation generate revenue?
The provided data only shows total revenue. Without a detailed breakdown from the 990, it's unclear whether revenue comes from donations, grants, investments, or other sources.
Filing History
IRS 990 filing history for Mad River Foundation showing financial trends over 9 years of public records:
Over 9 years of IRS 990 filings (2011–2023), Mad River Foundation's revenue has declined by 64.3%, moving from $129K to $46K. Total assets decreased by 12.4% over the same period, from $911K to $798K. Total functional expenses rose by 49.9%, from $75K to $112K. In its most recent filing year (2023), Mad River Foundation reported a deficit of $66K, with expenses exceeding revenue. The organization holds $1 in liabilities against $798K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $798K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $46K | $112K | $798K | $1 | — | View 990 |
| 2022 | $54K | $142K | $865K | $1 | — | View 990 |
| 2021 | $116K | $133K | $952K | $1 | — | — |
| 2019 | $95K | $104K | $927K | $0 | — | View 990 |
| 2015 | $114K | $99K | $899K | $0 | — | View 990 |
| 2014 | $85K | $85K | $883K | $0 | — | View 990 |
| 2013 | $58K | $77K | $884K | $0 | — | View 990 |
| 2012 | $71K | $79K | $903K | $0 | — | View 990 |
| 2011 | $129K | $75K | $911K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $46K, expenses of $112K, and assets of $798K (revenue -14.4% year-over-year).
- 2022: Revenue of $54K, expenses of $142K, and assets of $865K (revenue -53.5% year-over-year).
- 2021: Revenue of $116K, expenses of $133K, and assets of $952K (revenue +21.3% year-over-year).
- 2019: Revenue of $95K, expenses of $104K, and assets of $927K (revenue -16.2% year-over-year).
- 2015: Revenue of $114K, expenses of $99K, and assets of $899K (revenue +33.9% year-over-year).
- 2014: Revenue of $85K, expenses of $85K, and assets of $883K (revenue +47.9% year-over-year).
- 2013: Revenue of $58K, expenses of $77K, and assets of $884K (revenue -18.5% year-over-year).
- 2012: Revenue of $71K, expenses of $79K, and assets of $903K (revenue -45.2% year-over-year).
- 2011: Revenue of $129K, expenses of $75K, and assets of $911K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Mad River Foundation:
Data Sources and Methodology
This transparency report for Mad River 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.