Mhg Foundation Inc
Mhg Foundation Inc consistently grows assets with minimal expenses and no reported officer compensation.
EIN: 201993159 · Old Greenwich, CT · NTEE: T21 · Updated: 2026-03-28
Is Mhg Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Mhg Foundation Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Mhg Foundation Inc
Mhg Foundation Inc (EIN: 201993159) is a nonprofit organization based in Old Greenwich, CT, classified under NTEE code T21. The organization reported total revenue of $2.6M and total assets of $3.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Mhg Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Mhg Foundation Inc 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, Mhg Foundation Inc 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.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all filings, indicating that the organization's leadership is either entirely volunteer-based or compensated through other means not classified as officer compensation, which is highly unusual for an organization with assets nearing $4 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 Mhg Foundation Inc's IRS 990 filings:
- Unusually low and consistent $0 officer compensation for an organization of its asset size, which might warrant further inquiry into how leadership is supported or if services are provided pro bono.
Strengths
The following positive indicators were identified for Mhg Foundation Inc:
- Strong asset growth over time, from $1,382,836 in 2011 to $3,828,116 in 2023.
- Consistently low expenses relative to revenue, indicating efficient financial management.
- Zero reported officer compensation across all filings, suggesting a highly lean or volunteer-driven leadership structure.
- Minimal liabilities ($0 or $1) across all periods, indicating a very healthy balance sheet and low financial risk.
- Consistent filing history, demonstrating good transparency and compliance.
Frequently Asked Questions about Mhg Foundation Inc
Is Mhg Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Mhg Foundation Inc (EIN: 201993159) some concerns. Mission Score: 92/100. 1 red flag identified, 5 strengths noted.
How does Mhg Foundation Inc spend its money?
Mhg Foundation Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Mhg Foundation Inc tax-deductible?
Mhg Foundation Inc is registered as a tax-exempt nonprofit (EIN: 201993159). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Mhg Foundation Inc manage to operate with 0% officer compensation?
The consistent reporting of 0% officer compensation suggests that the organization's leadership is either entirely volunteer-based or compensated through mechanisms not categorized as officer compensation on the IRS Form 990. This is a significant factor in its low expense ratios.
What are the primary programs or grants funded by Mhg Foundation Inc?
Based on the NTEE code T21 (Private Grantmaking Foundations) and the financial data showing low operational expenses relative to revenue, the organization's primary activity is likely making grants to other organizations or individuals. The filings do not detail specific grant recipients or program areas.
Why does the organization consistently report $0 or $1 in liabilities?
Consistently reporting minimal liabilities ($0 or $1) indicates a very strong financial position with virtually no debt or outstanding obligations. This suggests excellent financial management and a low-risk operational model.
Filing History
IRS 990 filing history for Mhg Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Mhg Foundation Inc's revenue has declined by 28.1%, moving from $300K to $216K. Total assets increased by 169.7% over the same period, from $1.4M to $3.7M. Total functional expenses rose by 200.8%, from $77K to $232K. In its most recent filing year (2023), Mhg Foundation Inc reported a deficit of $16K, with expenses exceeding revenue. The organization holds $1 in liabilities against $3.7M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $3.7M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $216K | $232K | $3.7M | $1 | — | — |
| 2022 | $242K | $254K | $3.7M | $1 | — | View 990 |
| 2021 | $984K | $223K | $3.8M | $1 | — | View 990 |
| 2020 | $125K | $243K | $3.3M | $1 | — | — |
| 2019 | $592K | $224K | $3.4M | $1 | — | View 990 |
| 2015 | $439K | $131K | $2.5M | $0 | — | View 990 |
| 2014 | $501K | $107K | $2.3M | $0 | — | View 990 |
| 2013 | $607K | $100K | $2.1M | $1 | — | View 990 |
| 2012 | $603K | $85K | $1.8M | $0 | — | View 990 |
| 2011 | $300K | $77K | $1.4M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $216K, expenses of $232K, and assets of $3.7M (revenue -10.7% year-over-year).
- 2022: Revenue of $242K, expenses of $254K, and assets of $3.7M (revenue -75.4% year-over-year).
- 2021: Revenue of $984K, expenses of $223K, and assets of $3.8M (revenue +689.6% year-over-year).
- 2020: Revenue of $125K, expenses of $243K, and assets of $3.3M (revenue -79.0% year-over-year).
- 2019: Revenue of $592K, expenses of $224K, and assets of $3.4M (revenue +34.9% year-over-year).
- 2015: Revenue of $439K, expenses of $131K, and assets of $2.5M (revenue -12.3% year-over-year).
- 2014: Revenue of $501K, expenses of $107K, and assets of $2.3M (revenue -17.5% year-over-year).
- 2013: Revenue of $607K, expenses of $100K, and assets of $2.1M (revenue +0.7% year-over-year).
- 2012: Revenue of $603K, expenses of $85K, and assets of $1.8M (revenue +101.0% year-over-year).
- 2011: Revenue of $300K, expenses of $77K, and assets of $1.4M.
Data Sources and Methodology
This transparency report for Mhg 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.