Martis Fund
Martis Fund shows strong asset growth but inconsistent annual financial performance with recent deficit spending.
EIN: 208187896 · Truckee, CA · NTEE: C12 · Updated: 2026-03-28
Is Martis Fund Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Martis Fund directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Martis Fund
Martis Fund (EIN: 208187896) is a nonprofit organization based in Truckee, CA, classified under NTEE code C12. The organization reported total revenue of $3.1M and total assets of $17.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Martis Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Martis Fund is a mid-size nonprofit that has been operating for 18 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 10.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.9M |
| Total Expenses | $3.9M |
| Surplus / Deficit | $-990,102 |
| Total Assets | $17.0M |
| Total Liabilities | $1.2M |
| Net Assets | $15.8M |
| Operating Margin | -34.2% |
| Debt-to-Asset Ratio | 7.0% |
| Months of Reserves | 52.4 months |
Financial Health Grade: B
In 2023, Martis Fund reported a deficit of $990K with expenses exceeding revenue, holds 52.4 months of operating reserves (strong position), has a debt-to-asset ratio of 7.0% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Martis Fund's revenue has grown at a compound annual growth rate (CAGR) of 10.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -13.0% | +250.7% | +0.6% |
| 2022 | -27.2% | -85.0% | +8.0% |
| 2021 | -6.7% | +455.9% | -15.2% |
| 2020 | +90.6% | -44.3% | +23.9% |
| 2019 | -16.8% | +245.5% | +1.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2008 |
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 Martis Fund with a Mission Score of 80 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: 85%
- fundraising: 5%
According to IRS 990 filings, Martis Fund allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. 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 $990K, with expenses exceeding revenue.
- Debt-to-asset ratio: 7.0%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that the organization's leadership may be entirely volunteer-based or compensated through other means not categorized as officer compensation, which is highly unusual for an organization with assets nearing $17 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 Martis Fund's IRS 990 filings:
- Significant year-over-year volatility in both revenue and expenses, making financial forecasting challenging.
- Periods of substantial deficit spending (e.g., 2023 and 2021) where expenses significantly exceeded revenue.
- Consistent reporting of 0% officer compensation for an organization with nearly $17 million in assets, which is highly unusual and warrants further inquiry into leadership structure and compensation practices.
Strengths
The following positive indicators were identified for Martis Fund:
- Strong asset base, with assets growing to $16,980,629 in 2023, providing financial stability.
- No reported officer compensation, indicating a potentially volunteer-driven leadership or highly efficient administrative cost structure.
- Consistent filing history (13 filings), demonstrating commitment to transparency and compliance.
Frequently Asked Questions about Martis Fund
Is Martis Fund a legitimate charity?
Based on AI analysis of IRS 990 filings, Martis Fund (EIN: 208187896) some concerns. Mission Score: 80/100. 3 red flags identified, 3 strengths noted.
How does Martis Fund spend its money?
Martis Fund directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Martis Fund tax-deductible?
Martis Fund is registered as a tax-exempt nonprofit (EIN: 208187896). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Martis Fund manage its significant year-to-year fluctuations in expenses and revenue?
The organization's expenses varied from $689,008 in 2018 to $7,374,817 in 2021, and revenue from $2,070,040 in 2015 to $6,475,079 in 2016. Understanding the drivers behind these large swings is crucial for assessing financial stability.
What is the long-term strategy for addressing periods of deficit spending, such as in 2023 ($3,886,379 expenses vs. $2,896,277 revenue) and 2021 ($7,374,817 expenses vs. $4,571,050 revenue)?
While the organization has substantial assets, consistent deficit spending could erode its financial reserves over time if not managed strategically.
Given the 0% officer compensation, how are key leadership roles compensated, or what is the operational model that allows for this structure?
This is a significant outlier for an organization of its size and asset base, suggesting a unique operational or governance model that could impact sustainability or succession planning.
What is the breakdown of program spending given the NTEE code C12 (Environmental Protection & Conservation)?
Understanding how the substantial expenses, particularly in high-spending years, translate into specific environmental programs would provide insight into impact.
Filing History
IRS 990 filing history for Martis Fund showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Martis Fund's revenue has grown by 214%, moving from $922K to $2.9M. Total assets increased by 1161.3% over the same period, from $1.3M to $17.0M. Total functional expenses rose by 478%, from $672K to $3.9M. In its most recent filing year (2023), Martis Fund reported a deficit of $990K, with expenses exceeding revenue. The organization holds $1.2M in liabilities against $17.0M in assets (debt-to-asset ratio: 7.0%), resulting in net assets of $15.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.9M | $3.9M | $17.0M | $1.2M | — | — |
| 2022 | $3.3M | $1.1M | $16.9M | $98K | — | View 990 |
| 2021 | $4.6M | $7.4M | $15.6M | $15K | — | View 990 |
| 2020 | $4.9M | $1.3M | $18.4M | $19K | — | — |
| 2019 | $2.6M | $2.4M | $14.9M | $35K | — | View 990 |
| 2018 | $3.1M | $689K | $14.7M | $29K | — | View 990 |
| 2017 | $2.6M | $937K | $12.3M | $46K | — | — |
| 2016 | $6.5M | $696K | $10.6M | $28K | — | View 990 |
| 2015 | $2.1M | $704K | $4.9M | $87K | — | View 990 |
| 2014 | $2.6M | $765K | $3.5M | $37K | — | View 990 |
| 2013 | $1.7M | $1.4M | $1.8M | $225K | — | View 990 |
| 2012 | $1.3M | $1.1M | $1.5M | $205K | — | View 990 |
| 2011 | $922K | $672K | $1.3M | $127K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.9M, expenses of $3.9M, and assets of $17.0M (revenue -13.0% year-over-year).
- 2022: Revenue of $3.3M, expenses of $1.1M, and assets of $16.9M (revenue -27.2% year-over-year).
- 2021: Revenue of $4.6M, expenses of $7.4M, and assets of $15.6M (revenue -6.7% year-over-year).
- 2020: Revenue of $4.9M, expenses of $1.3M, and assets of $18.4M (revenue +90.6% year-over-year).
- 2019: Revenue of $2.6M, expenses of $2.4M, and assets of $14.9M (revenue -16.8% year-over-year).
- 2018: Revenue of $3.1M, expenses of $689K, and assets of $14.7M (revenue +20.4% year-over-year).
- 2017: Revenue of $2.6M, expenses of $937K, and assets of $12.3M (revenue -60.3% year-over-year).
- 2016: Revenue of $6.5M, expenses of $696K, and assets of $10.6M (revenue +212.8% year-over-year).
- 2015: Revenue of $2.1M, expenses of $704K, and assets of $4.9M (revenue -21.0% year-over-year).
- 2014: Revenue of $2.6M, expenses of $765K, and assets of $3.5M (revenue +58.1% year-over-year).
- 2013: Revenue of $1.7M, expenses of $1.4M, and assets of $1.8M (revenue +32.6% year-over-year).
- 2012: Revenue of $1.3M, expenses of $1.1M, and assets of $1.5M (revenue +35.6% year-over-year).
- 2011: Revenue of $922K, expenses of $672K, and assets of $1.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Martis Fund:
Data Sources and Methodology
This transparency report for Martis Fund 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.