Michael J Mungo Foundation Inc
Michael J Mungo Foundation shows consistent asset growth and zero executive compensation over a decade.
EIN: 134203429 · Irmo, SC · NTEE: T20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $16.0M |
| Total Expenses | $2.5M |
| Program Spending | 90% |
| CEO/Top Officer Pay | $33 |
| Net Assets | $32.0M |
| Transparency Score | 92/100 |
Is Michael J Mungo Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Michael J Mungo Foundation Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Michael J Mungo Foundation Inc
Michael J Mungo Foundation Inc (EIN: 134203429) is a nonprofit organization based in Irmo, SC, classified under NTEE code T20. The organization reported total revenue of $16.0M and total assets of $34.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Michael J Mungo Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Michael J Mungo Foundation Inc is a large nonprofit that has been operating for 18 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 14.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $3.9M |
| Total Expenses | $2.5M |
| Surplus / Deficit | +$1.4M |
| Total Assets | $33.2M |
| Total Liabilities | $1.2M |
| Net Assets | $32.0M |
| Operating Margin | 36.1% |
| Debt-to-Asset Ratio | 3.6% |
| Months of Reserves | 161.7 months |
Financial Health Grade: A
In 2023, Michael J Mungo Foundation Inc reported a surplus of $1.4M with revenue exceeding expenses, holds 161.7 months of operating reserves (strong position), has a debt-to-asset ratio of 3.6% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Michael J Mungo Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 14.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +25.9% | +2.4% | +8.5% |
| 2022 | -26.3% | +5.2% | +1.5% |
| 2021 | +69.4% | +20.8% | +4.4% |
| 2020 | -28.0% | +10.0% | +4.2% |
| 2019 | +24.7% | +76.8% | +76.0% |
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 Michael J Mungo 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: 7%
- programs: 90%
- fundraising: 3%
According to IRS 990 filings, Michael J Mungo Foundation Inc allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. 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 $1.4M, with revenue exceeding expenses.
- Debt-to-asset ratio: 3.6%.
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 commendable for a foundation of its size with assets exceeding $33 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 Michael J Mungo Foundation Inc's IRS 990 filings:
- Specific program spending percentages not explicitly detailed in provided data, requiring deeper dive into full 990 forms.
Strengths
The following positive indicators were identified for Michael J Mungo Foundation Inc:
- Consistent asset growth, from $3.97M in 2011 to $33.16M in 2023.
- Zero officer compensation reported across all available filings.
- Very low liabilities, often reported as $1, indicating strong financial stability.
- Positive net income (Revenue > Expenses) in most reported periods, contributing to asset growth.
- Long history of IRS 990 filings (10 filings), indicating consistent compliance and transparency.
Frequently Asked Questions about Michael J Mungo Foundation Inc
Is Michael J Mungo Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Michael J Mungo Foundation Inc (EIN: 134203429) some concerns. Mission Score: 92/100. 1 red flag identified, 5 strengths noted.
How does Michael J Mungo Foundation Inc spend its money?
Michael J Mungo Foundation Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Michael J Mungo Foundation Inc tax-deductible?
Michael J Mungo Foundation Inc is registered as a tax-exempt nonprofit (EIN: 134203429). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Michael J Mungo Foundation Inc CEO make?
Michael J Mungo Foundation Inc's highest-compensated officer earns $33 annually. The organization reported $16.0M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Michael J Mungo Foundation Inc's spending goes to programs?
Michael J Mungo Foundation Inc directs 90% to programs, 3% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Michael J Mungo Foundation Inc compare to similar nonprofits?
With a transparency score of 92/100 (Excellent), Michael J Mungo Foundation Inc is above average for NTEE category T20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Michael J Mungo Foundation Inc located?
Michael J Mungo Foundation Inc is headquartered in Irmo, South Carolina and files with the IRS under EIN 134203429. It is classified under NTEE code T20.
How many years of IRS 990 filings does Michael J Mungo Foundation Inc have?
Michael J Mungo Foundation Inc has 10 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $16.0M in total revenue.
Is Michael J Mungo Foundation Inc a good charity?
Based on the provided data, the Michael J Mungo Foundation Inc appears to be a very good charity. It demonstrates strong financial health with growing assets, very low liabilities, and a remarkable commitment to not paying executive compensation, suggesting a high percentage of funds are directed towards its mission.
How has the foundation's asset base grown over time?
The foundation's assets have grown substantially, from $3,966,206 in 2011 to $33,162,964 in 2023, representing an increase of over 730% in just over a decade.
What is the trend in the foundation's revenue?
The foundation's revenue has shown fluctuations but generally an upward trend, with the latest reported revenue at $3,853,205 in 2023, and a peak of $5,617,807 in 2012.
Filing History
IRS 990 filing history for Michael J Mungo Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Michael J Mungo Foundation Inc's revenue has grown by 425.3%, moving from $734K to $3.9M. Total assets increased by 736.1% over the same period, from $4.0M to $33.2M. Total functional expenses rose by 1423.9%, from $161K to $2.5M. In its most recent filing year (2023), Michael J Mungo Foundation Inc reported a surplus of $1.4M, with revenue exceeding expenses. The organization holds $1.2M in liabilities against $33.2M in assets (debt-to-asset ratio: 3.6%), resulting in net assets of $32.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $3.9M | $2.5M | $33.2M | $1.2M | — | — |
| 2022 | $3.1M | $2.4M | $30.6M | $1 | — | View 990 |
| 2021 | $4.2M | $2.3M | $30.1M | $1 | — | View 990 |
| 2020 | $2.5M | $1.9M | $28.8M | $590K | — | — |
| 2019 | $3.4M | $1.7M | $27.7M | $1 | — | — |
| 2015 | $2.7M | $973K | $15.7M | $0 | — | View 990 |
| 2014 | $2.2M | $996K | $14.3M | $1 | — | View 990 |
| 2013 | $5.1M | $270K | $13.2M | $0 | — | View 990 |
| 2012 | $5.6M | $110K | $9.5M | $1 | — | View 990 |
| 2011 | $734K | $161K | $4.0M | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $3.9M, expenses of $2.5M, and assets of $33.2M (revenue +25.9% year-over-year).
- 2022: Revenue of $3.1M, expenses of $2.4M, and assets of $30.6M (revenue -26.3% year-over-year).
- 2021: Revenue of $4.2M, expenses of $2.3M, and assets of $30.1M (revenue +69.4% year-over-year).
- 2020: Revenue of $2.5M, expenses of $1.9M, and assets of $28.8M (revenue -28.0% year-over-year).
- 2019: Revenue of $3.4M, expenses of $1.7M, and assets of $27.7M (revenue +24.7% year-over-year).
- 2015: Revenue of $2.7M, expenses of $973K, and assets of $15.7M (revenue +25.9% year-over-year).
- 2014: Revenue of $2.2M, expenses of $996K, and assets of $14.3M (revenue -57.1% year-over-year).
- 2013: Revenue of $5.1M, expenses of $270K, and assets of $13.2M (revenue -10.1% year-over-year).
- 2012: Revenue of $5.6M, expenses of $110K, and assets of $9.5M (revenue +665.8% year-over-year).
- 2011: Revenue of $734K, expenses of $161K, and assets of $4.0M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Michael J Mungo Foundation Inc:
Data Sources and Methodology
This transparency report for Michael J Mungo 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.