Mission Asset Fund
Mission Asset Fund experiences significant revenue decline in 2023 after record highs, maintaining substantial assets with 0% reported officer compensation.
EIN: 208993652 · San Francisco, CA · NTEE: S31 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $37.4M |
| Total Expenses | $20.2M |
| Program Spending | 75% |
| Net Assets | $27.8M |
| Transparency Score | 85/100 |
Is Mission Asset Fund Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Mission Asset Fund directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Mission Asset Fund
Mission Asset Fund (EIN: 208993652) is a nonprofit organization based in San Francisco, CA, classified under NTEE code S31. The organization reported total revenue of $37.4M and total assets of $27.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Mission Asset Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Mission Asset Fund is a large nonprofit that has been operating for 18 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 24.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $8.9M |
| Total Expenses | $20.2M |
| Surplus / Deficit | $-11,287,197 |
| Total Assets | $31.4M |
| Total Liabilities | $3.6M |
| Net Assets | $27.8M |
| Operating Margin | -127.0% |
| Debt-to-Asset Ratio | 11.6% |
| Months of Reserves | 18.7 months |
Financial Health Grade: B
In 2023, Mission Asset Fund reported a deficit of $11.3M with expenses exceeding revenue, holds 18.7 months of operating reserves (strong position), has a debt-to-asset ratio of 11.6% (very low leverage).
Financial Trends
Over 14 years of filings (2010–2023), Mission Asset Fund's revenue has grown at a compound annual growth rate (CAGR) of 24.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -1.5% | +0.9% | -27.1% |
| 2022 | -84.4% | -7.9% | -21.0% |
| 2021 | +39.0% | -35.0% | +206.5% |
| 2020 | +618.9% | +688.2% | +111.5% |
| 2019 | +1.9% | -5.2% | +20.4% |
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 Mission Asset Fund with a Mission Score of 85 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: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Mission Asset Fund allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% 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 $11.3M, with expenses exceeding revenue.
- Debt-to-asset ratio: 11.6%.
Executive Compensation Analysis
Mission Asset Fund consistently reports 0% officer compensation across all available IRS 990 filings, indicating that no compensation was paid to officers or that it was reported under other categories, which is a strong positive for transparency and efficient use of funds relative to the organization's size and revenue fluctuations.
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 Mission Asset Fund's IRS 990 filings:
- Significant year-over-year revenue volatility, with a sharp decline from $57.8M in 2021 to $8.8M in 2023, which could indicate reliance on non-recurring funding or program changes.
- Expenses ($20.1M in 2023) significantly exceeded revenue ($8.8M in 2023), suggesting reliance on reserves or other funding sources not captured as revenue in that specific period.
Strengths
The following positive indicators were identified for Mission Asset Fund:
- Consistent reporting of 0% officer compensation across all filings, indicating strong financial transparency and a focus on mission-related spending.
- Maintained substantial asset base ($26,969,177 latest reported, $31,396,965 in 2023) providing financial stability despite revenue fluctuations.
- Long history of IRS 990 filings (14 filings), demonstrating consistent compliance and accountability.
- Strong financial health in previous years, with significant revenue generation in 2020 ($41.6M) and 2021 ($57.8M).
Frequently Asked Questions about Mission Asset Fund
Is Mission Asset Fund a legitimate charity?
Mission Asset Fund (EIN: 208993652) is a registered tax-exempt nonprofit based in California. Our AI analysis gives it a Mission Score of 85/100. It has 14 years of IRS 990 filings on record. Total revenue: $37.4M. 2 red flags identified. 4 strengths noted. Financial health grade: B.
How does Mission Asset Fund spend its money?
Mission Asset Fund directs 75% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Mission Asset Fund tax-deductible?
Mission Asset Fund is registered as a tax-exempt nonprofit (EIN: 208993652). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Mission Asset Fund's spending goes to programs?
Mission Asset Fund directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Mission Asset Fund compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Mission Asset Fund is above average for NTEE category S31 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Mission Asset Fund located?
Mission Asset Fund is headquartered in San Francisco, California and files with the IRS under EIN 208993652. It is classified under NTEE code S31.
How many years of IRS 990 filings does Mission Asset Fund have?
Mission Asset Fund has 14 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 $37.4M in total revenue.
Is Mission Asset Fund a good charity?
Based on the available data, Mission Asset Fund appears to be a good charity. They consistently report 0% officer compensation, indicating a strong commitment to directing funds towards their mission rather than executive pay. While revenue has fluctuated significantly, they have maintained substantial assets and have a long filing history, suggesting stability and accountability. The significant drop in revenue in 2023 compared to previous years warrants further investigation, but their overall financial health and transparency are positive indicators.
Why did Mission Asset Fund's revenue drop so sharply in 2023?
Mission Asset Fund's revenue dropped from $57,826,731 in 2021 to $8,886,025 in 2023. This significant decrease could be due to several factors, such as the completion of large, time-limited grants, a change in funding priorities from major donors, or a shift in their program model that requires less direct funding. Further investigation into their funding sources and program activities for those years would be necessary to understand the specific reasons.
How does Mission Asset Fund manage its assets?
Mission Asset Fund has maintained a substantial asset base, peaking at $54,523,090 in 2021 and standing at $31,396,965 in 2023. This indicates a capacity to hold reserves and potentially invest for future programs. The ratio of assets to liabilities (e.g., $31.3 million assets vs. $3.6 million liabilities in 2023) suggests a healthy financial position and good management of their balance sheet.
Filing History
IRS 990 filing history for Mission Asset Fund showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Mission Asset Fund's revenue has grown by 1692.3%, moving from $496K to $8.9M. Total assets increased by 2589.7% over the same period, from $1.2M to $31.4M. Total functional expenses rose by 3261%, from $600K to $20.2M. In its most recent filing year (2023), Mission Asset Fund reported a deficit of $11.3M, with expenses exceeding revenue. The organization holds $3.6M in liabilities against $31.4M in assets (debt-to-asset ratio: 11.6%), resulting in net assets of $27.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $8.9M | $20.2M | $31.4M | $3.6M | — | View 990 |
| 2022 | $9.0M | $20.0M | $43.1M | $4.3M | — | View 990 |
| 2021 | $57.8M | $21.7M | $54.5M | $3.0M | — | View 990 |
| 2020 | $41.6M | $33.4M | $17.8M | $1.8M | — | — |
| 2019 | $5.8M | $4.2M | $8.4M | $597K | — | View 990 |
| 2018 | $5.7M | $4.5M | $7.0M | $717K | — | View 990 |
| 2017 | $7.4M | $5.2M | $5.7M | $681K | — | View 990 |
| 2016 | $1.7M | $2.6M | $3.6M | $729K | — | View 990 |
| 2015 | $3.2M | $2.0M | $4.4M | $543K | — | View 990 |
| 2014 | $1.5M | $2.1M | $2.8M | $402K | — | View 990 |
| 2013 | $3.4M | $1.6M | $3.4M | $380K | — | View 990 |
| 2012 | $1.2M | $1.3M | $1.4M | $207K | — | View 990 |
| 2011 | $1.2M | $992K | $1.3M | $59K | — | View 990 |
| 2010 | $496K | $600K | $1.2M | $79K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $8.9M, expenses of $20.2M, and assets of $31.4M (revenue -1.5% year-over-year).
- 2022: Revenue of $9.0M, expenses of $20.0M, and assets of $43.1M (revenue -84.4% year-over-year).
- 2021: Revenue of $57.8M, expenses of $21.7M, and assets of $54.5M (revenue +39.0% year-over-year).
- 2020: Revenue of $41.6M, expenses of $33.4M, and assets of $17.8M (revenue +618.9% year-over-year).
- 2019: Revenue of $5.8M, expenses of $4.2M, and assets of $8.4M (revenue +1.9% year-over-year).
- 2018: Revenue of $5.7M, expenses of $4.5M, and assets of $7.0M (revenue -23.2% year-over-year).
- 2017: Revenue of $7.4M, expenses of $5.2M, and assets of $5.7M (revenue +340.2% year-over-year).
- 2016: Revenue of $1.7M, expenses of $2.6M, and assets of $3.6M (revenue -47.9% year-over-year).
- 2015: Revenue of $3.2M, expenses of $2.0M, and assets of $4.4M (revenue +113.3% year-over-year).
- 2014: Revenue of $1.5M, expenses of $2.1M, and assets of $2.8M (revenue -55.8% year-over-year).
- 2013: Revenue of $3.4M, expenses of $1.6M, and assets of $3.4M (revenue +176.3% year-over-year).
- 2012: Revenue of $1.2M, expenses of $1.3M, and assets of $1.4M (revenue +3.8% year-over-year).
- 2011: Revenue of $1.2M, expenses of $992K, and assets of $1.3M (revenue +140.9% year-over-year).
- 2010: Revenue of $496K, expenses of $600K, and assets of $1.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Mission Asset Fund:
Data Sources and Methodology
This transparency report for Mission Asset 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.