Mcdermott Fam Charitable Tr
McDermott Fam Charitable Tr shows strong asset growth and no officer compensation, with variable revenue.
EIN: 146198226 · Tolland, CT · NTEE: T20 · Updated: 2026-03-28
Is Mcdermott Fam Charitable Tr Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Mcdermott Fam Charitable Tr directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Mcdermott Fam Charitable Tr
Mcdermott Fam Charitable Tr (EIN: 146198226) is a nonprofit organization based in Tolland, CT, classified under NTEE code T20. The organization reported total revenue of $169K and total assets of $3.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Mcdermott Fam Charitable Tr's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Mcdermott Fam Charitable Tr is a small nonprofit that has been operating for 26 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 33.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $184K |
| Total Expenses | $101K |
| Surplus / Deficit | +$83K |
| Total Assets | $2.2M |
| Total Liabilities | $1 |
| Net Assets | $2.2M |
| Operating Margin | 45.3% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 267.2 months |
Financial Health Grade: A
In 2023, Mcdermott Fam Charitable Tr reported a surplus of $83K with revenue exceeding expenses, holds 267.2 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), Mcdermott Fam Charitable Tr's revenue has grown at a compound annual growth rate (CAGR) of 33.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +319.6% | -2.4% | +21.2% |
| 2022 | -96.9% | +3.0% | -16.0% |
| 2021 | +3991.7% | +148.9% | +253.3% |
| 2020 | +154.8% | +19.9% | +0.3% |
| 2019 | +13.8% | +139.3% | +22.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2000 |
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 Mcdermott Fam Charitable Tr with a Mission Score of 92 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: 90%
- fundraising: 0%
According to IRS 990 filings, Mcdermott Fam Charitable Tr allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% 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 surplus of $83K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that no salaries are paid to officers, which is highly efficient for an organization of this size and type.
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 Mcdermott Fam Charitable Tr's IRS 990 filings:
- Highly variable revenue, indicating potential reliance on unpredictable income sources.
Strengths
The following positive indicators were identified for Mcdermott Fam Charitable Tr:
- Consistent 0% officer compensation, demonstrating high efficiency in administrative costs.
- Strong asset growth over the past decade, indicating financial stability and capacity.
- Minimal liabilities ($0 or $1 across all periods), reflecting sound financial management.
- Clear and consistent IRS 990 filing history, indicating good transparency.
Frequently Asked Questions about Mcdermott Fam Charitable Tr
Is Mcdermott Fam Charitable Tr a legitimate charity?
Based on AI analysis of IRS 990 filings, Mcdermott Fam Charitable Tr (EIN: 146198226) some concerns. Mission Score: 92/100. 1 red flag identified, 4 strengths noted.
How does Mcdermott Fam Charitable Tr spend its money?
Mcdermott Fam Charitable Tr directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Mcdermott Fam Charitable Tr tax-deductible?
Mcdermott Fam Charitable Tr is registered as a tax-exempt nonprofit (EIN: 146198226). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What specific programs or grants does the McDermott Fam Charitable Tr support?
The provided data does not detail the specific programs or grants supported by the trust. Further investigation into their IRS Form 990, Part III (Statement of Program Service Accomplishments) would be necessary.
What is the primary source of the trust's highly variable revenue?
The data indicates significant revenue fluctuations, such as $1,409,685 in 2021 versus $43,758 in 2022. This variability suggests reliance on investment income, large one-time donations, or specific asset sales, which would be detailed in Part VIII of their Form 990.
How does the trust manage its investment portfolio, given its substantial assets?
With assets growing to over $2.2 million by 2023, the trust likely has an investment strategy. The provided data does not specify how these assets are managed or invested, which would typically be found in the financial statements within the full 990 filing.
Filing History
IRS 990 filing history for Mcdermott Fam Charitable Tr showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Mcdermott Fam Charitable Tr's revenue has grown by 3084.1%, moving from $6K to $184K. Total assets increased by 821.8% over the same period, from $243K to $2.2M. Total functional expenses rose by 734%, from $12K to $101K. In its most recent filing year (2023), Mcdermott Fam Charitable Tr reported a surplus of $83K, with revenue exceeding expenses. The organization holds $1 in liabilities against $2.2M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $2.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $184K | $101K | $2.2M | $1 | — | View 990 |
| 2022 | $44K | $103K | $1.8M | $1 | — | View 990 |
| 2021 | $1.4M | $100K | $2.2M | $1 | — | View 990 |
| 2020 | $34K | $40K | $623K | $1 | — | View 990 |
| 2019 | $14K | $34K | $621K | $0 | — | View 990 |
| 2015 | $12K | $14K | $507K | $0 | — | View 990 |
| 2014 | $85K | $29K | $505K | $0 | — | View 990 |
| 2013 | $58K | $23K | $379K | $0 | — | View 990 |
| 2012 | $56K | $13K | $301K | $0 | — | View 990 |
| 2011 | $6K | $12K | $243K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $184K, expenses of $101K, and assets of $2.2M (revenue +319.6% year-over-year).
- 2022: Revenue of $44K, expenses of $103K, and assets of $1.8M (revenue -96.9% year-over-year).
- 2021: Revenue of $1.4M, expenses of $100K, and assets of $2.2M (revenue +3991.7% year-over-year).
- 2020: Revenue of $34K, expenses of $40K, and assets of $623K (revenue +154.8% year-over-year).
- 2019: Revenue of $14K, expenses of $34K, and assets of $621K (revenue +13.8% year-over-year).
- 2015: Revenue of $12K, expenses of $14K, and assets of $507K (revenue -86.0% year-over-year).
- 2014: Revenue of $85K, expenses of $29K, and assets of $505K (revenue +47.1% year-over-year).
- 2013: Revenue of $58K, expenses of $23K, and assets of $379K (revenue +3.4% year-over-year).
- 2012: Revenue of $56K, expenses of $13K, and assets of $301K (revenue +866.8% year-over-year).
- 2011: Revenue of $6K, expenses of $12K, and assets of $243K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Mcdermott Fam Charitable Tr:
Data Sources and Methodology
This transparency report for Mcdermott Fam Charitable Tr 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.