Mattei Foundation
Mattei Foundation shows volatile revenue and consistent asset base, with unusual liability reporting.
EIN: 206376517 · Charlotte, NC · NTEE: T22 · Updated: 2026-03-28
Is Mattei Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Mattei Foundation directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Mattei Foundation
Mattei Foundation (EIN: 206376517) is a nonprofit organization based in Charlotte, NC, classified under NTEE code T22. The organization reported total revenue of $1.3M and total assets of $5.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Mattei Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Mattei Foundation is a mid-size nonprofit that has been operating for 21 years, with 10 years of IRS 990 filings on record (2011–2023).
Financial Trends
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -117.2% | -7.0% | -10.0% |
| 2022 | +273.9% | -6.7% | +11.2% |
| 2021 | -32.4% | +7.1% | -3.6% |
| 2020 | +116.3% | -20.3% | -0.6% |
| 2019 | -50.2% | +51.4% | -11.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2005 |
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 Mattei 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, Mattei 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:
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The Mattei Foundation consistently reports 0% officer compensation across all available filings, indicating that no salaries are paid to its officers, which is a positive sign for minimizing administrative overhead.
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 Mattei Foundation's IRS 990 filings:
- Highly volatile revenue, including a significant negative revenue in 2023 ($-176,519).
- Expenses frequently exceed revenue (e.g., 2023, 2021, 2020, 2019, 2011), potentially indicating reliance on asset drawdowns.
- Consistent reporting of $1 in liabilities across multiple recent years (2023-2019) is unusual and warrants scrutiny.
Strengths
The following positive indicators were identified for Mattei Foundation:
- Maintains a strong and consistent asset base, generally over $5 million, providing financial stability.
- Reports 0% officer compensation across all filings, indicating efficient use of funds by not paying executive salaries.
- Consistent filing of IRS Form 990s demonstrates adherence to basic transparency requirements.
Frequently Asked Questions about Mattei Foundation
Is Mattei Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Mattei Foundation (EIN: 206376517) some concerns. Mission Score: 65/100. 3 red flags identified, 3 strengths noted.
How does Mattei Foundation spend its money?
Mattei Foundation directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Mattei Foundation tax-deductible?
Mattei Foundation is registered as a tax-exempt nonprofit (EIN: 206376517). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Why does the Mattei Foundation report $1 in liabilities for multiple years?
The consistent reporting of $1 in liabilities across several recent IRS 990 filings (2023-2019) is highly unusual and could indicate a reporting anomaly, a specific accounting practice, or a lack of significant financial obligations. Further investigation into their detailed financial statements would be necessary to understand this.
What caused the significant negative revenue of $-176,519 in 2023?
A negative revenue figure typically indicates a substantial return of funds, investment losses, or significant adjustments. Without more detailed financial statements, the exact cause cannot be determined from the summary 990 data provided.
How does the Mattei Foundation sustain operations with such volatile revenue and periods where expenses exceed revenue?
Given the substantial asset base (over $5 million), the foundation likely relies on its endowment or investment income to cover operational expenses, especially during years with low or negative revenue. This suggests a strategy of drawing down from assets when direct revenue is insufficient.
What are the specific program activities funded by the Mattei Foundation?
The NTEE code T22 indicates 'Philanthropy, Voluntarism & Grantmaking Foundations'. While this broadly defines its purpose, the summary data does not detail the specific types of programs or grants it supports. Further review of their full 990 or website would be needed.
Filing History
IRS 990 filing history for Mattei Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Mattei Foundation's revenue has declined by 222.9%, moving from $144K to $-176,519. Total assets increased by 3.3% over the same period, from $5.1M to $5.2M. Total functional expenses rose by 19.7%, from $338K to $405K. The organization holds $1 in liabilities against $5.2M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $5.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $-176,519 | $405K | $5.2M | $1 | — | View 990 |
| 2022 | $1.0M | $436K | $5.8M | $1 | — | View 990 |
| 2021 | $274K | $467K | $5.2M | $1 | — | View 990 |
| 2020 | $405K | $436K | $5.4M | $1 | — | View 990 |
| 2019 | $187K | $547K | $5.5M | $1 | — | — |
| 2015 | $376K | $361K | $6.2M | $0 | — | View 990 |
| 2014 | $495K | $332K | $6.1M | $0 | — | View 990 |
| 2013 | $278K | $342K | $6.0M | $0 | — | View 990 |
| 2012 | $1.3M | $363K | $6.0M | $0 | — | View 990 |
| 2011 | $144K | $338K | $5.1M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $-176,519, expenses of $405K, and assets of $5.2M (revenue -117.2% year-over-year).
- 2022: Revenue of $1.0M, expenses of $436K, and assets of $5.8M (revenue +273.9% year-over-year).
- 2021: Revenue of $274K, expenses of $467K, and assets of $5.2M (revenue -32.4% year-over-year).
- 2020: Revenue of $405K, expenses of $436K, and assets of $5.4M (revenue +116.3% year-over-year).
- 2019: Revenue of $187K, expenses of $547K, and assets of $5.5M (revenue -50.2% year-over-year).
- 2015: Revenue of $376K, expenses of $361K, and assets of $6.2M (revenue -24.0% year-over-year).
- 2014: Revenue of $495K, expenses of $332K, and assets of $6.1M (revenue +78.0% year-over-year).
- 2013: Revenue of $278K, expenses of $342K, and assets of $6.0M (revenue -79.1% year-over-year).
- 2012: Revenue of $1.3M, expenses of $363K, and assets of $6.0M (revenue +828.1% year-over-year).
- 2011: Revenue of $144K, expenses of $338K, and assets of $5.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Mattei Foundation:
Data Sources and Methodology
This transparency report for Mattei 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.