Malcolm E Smith Jr Foundation Inc

Malcolm E Smith Jr Foundation Inc faces significant asset depletion and consistent operational deficits.

EIN: 113344933 · North Hampton, NH · NTEE: T22 · Updated: 2026-03-28

$371KRevenue

$2.0MAssets

40/100Mission Score (Fair)

T22

About Malcolm E Smith Jr Foundation Inc

Malcolm E Smith Jr Foundation Inc (EIN: 113344933) is a nonprofit organization based in North Hampton, NH, classified under NTEE code T22. The organization reported total revenue of $371K and total assets of $2.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Malcolm E Smith Jr Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

The Malcolm E Smith Jr Foundation Inc exhibits a concerning financial trend, consistently reporting expenses significantly exceeding revenue over the past decade. For instance, in 2020, the organization reported $67,772 in revenue against $141,050 in expenses, indicating a deficit. This pattern is not isolated, with a particularly stark example in 2019 where revenue was negative $-1,010,777 while expenses were $80,480. This suggests a reliance on drawing down assets rather than sustainable fundraising or program income. The foundation's assets have steadily declined from $4,361,086 in 2011 to $1,972,035 in 2020, a reduction of over 50%, which is a significant red flag regarding its long-term viability and financial health. 

The organization's spending efficiency is difficult to fully assess without a detailed functional expense breakdown, which is not provided in the summary data. However, the consistent operational deficits raise questions about the effectiveness of its financial management. The absence of reported officer compensation across all available filings suggests either a volunteer-led structure or that compensation is reported under other expense categories, which could impact transparency. Given the substantial asset depletion and consistent revenue shortfalls, the foundation's financial sustainability appears to be at risk, impacting its ability to fulfill its mission effectively in the long term.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Malcolm E Smith Jr Foundation Inc with a Mission Score of 40 out of 100 (Fair). 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, Malcolm E Smith Jr Foundation Inc allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.

Executive Compensation Analysis

No officer compensation has been reported across all available filings (2011-2020), suggesting a volunteer-led organization or that compensation is categorized differently, which enhances transparency regarding direct executive salaries.

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 Malcolm E Smith Jr Foundation Inc's IRS 990 filings:

Consistent operational deficits (e.g., 2020: Revenue $67,772 vs. Expenses $141,050)
Significant and continuous decline in assets (from $4,361,086 in 2011 to $1,972,035 in 2020)
Negative revenue reported in 2019 ($-1,010,777), indicating major financial setbacks.
Expenses consistently outweighing revenue across multiple years.

Strengths

The following positive indicators were identified for Malcolm E Smith Jr Foundation Inc:

No reported officer compensation, indicating potential volunteer leadership or efficient use of funds for executive roles.
Relatively low liabilities across most periods (e.g., $1 in 2020).

Frequently Asked Questions about Malcolm E Smith Jr Foundation Inc

How does the foundation cover its consistent operational deficits?

The foundation appears to cover its operational deficits by drawing down its assets, which have decreased from $4,361,086 in 2011 to $1,972,035 in 2020.

What caused the negative revenue of $-1,010,777 in 2019?

The provided data does not specify the exact cause, but such a significant negative revenue figure often indicates substantial investment losses or a major return of funds.

What are the specific program activities funded by the foundation?

The NTEE code T22 indicates 'Philanthropy, Voluntarism & Grantmaking Foundations', but specific program details are not available in the provided financial summary.

Is the foundation's current financial model sustainable?

No, the consistent trend of expenses exceeding revenue and the significant depletion of assets suggest the current financial model is not sustainable in the long term.

Filing History

IRS 990 filing history for Malcolm E Smith Jr Foundation Inc showing financial trends over 8 years of public records:

Over 8 years of IRS 990 filings (2011–2020), Malcolm E Smith Jr Foundation Inc's revenue has grown by 121.5%, moving from $31K to $68K. Total assets decreased by 54.8% over the same period, from $4.4M to $2.0M. Total functional expenses fell by 34.5%, from $215K to $141K. In its most recent filing year (2020), Malcolm E Smith Jr Foundation Inc reported a deficit of $73K, with expenses exceeding revenue. The organization holds $1 in liabilities against $2.0M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $2.0M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2020	$68K	$141K	$2.0M	$1	—	—
2019	$-1,010,777	$80K	$2.0M	$2K	—	—
2018	$26K	$114K	$3.1M	$1	—	View 990
2015	$23K	$197K	$3.6M	$1	—	View 990
2014	$40K	$201K	$3.8M	$0	—	View 990
2013	$62K	$177K	$3.9M	$1	—	View 990
2012	$48K	$362K	$4.0M	$0	—	View 990
2011	$31K	$215K	$4.4M	$0	—	View 990

Year-by-Year Financial Summary

2020: Revenue of $68K, expenses of $141K, and assets of $2.0M.
2019: Revenue of $-1,010,777, expenses of $80K, and assets of $2.0M (revenue -4053.0% year-over-year).
2018: Revenue of $26K, expenses of $114K, and assets of $3.1M (revenue +9.3% year-over-year).
2015: Revenue of $23K, expenses of $197K, and assets of $3.6M (revenue -41.8% year-over-year).
2014: Revenue of $40K, expenses of $201K, and assets of $3.8M (revenue -35.1% year-over-year).
2013: Revenue of $62K, expenses of $177K, and assets of $3.9M (revenue +28.3% year-over-year).
2012: Revenue of $48K, expenses of $362K, and assets of $4.0M (revenue +57.6% year-over-year).
2011: Revenue of $31K, expenses of $215K, and assets of $4.4M.

Data Sources and Methodology

This transparency report for Malcolm E Smith Jr 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.