Myers Vitkin Foundation Inc
Myers Vitkin Foundation consistently spends more than its revenue, drawing down assets over the past decade.
EIN: 131777780 · Scottsdale, AZ · Updated: 2026-03-28
Is Myers Vitkin Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Myers Vitkin Foundation Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Myers Vitkin Foundation Inc
Myers Vitkin Foundation Inc (EIN: 131777780) is a nonprofit organization based in Scottsdale, AZ. The organization reported total revenue of $44K and total assets of $88K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Myers Vitkin Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Myers Vitkin Foundation Inc is a micro nonprofit that has been operating for 73 years, with 10 years of IRS 990 filings on record (2012–2024). Revenue has grown at a compound annual rate of 4.2%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $20K |
| Total Expenses | $31K |
| Surplus / Deficit | $-11,211 |
| Total Assets | $100K |
| Total Liabilities | $1 |
| Net Assets | $100K |
| Operating Margin | -55.6% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 38.1 months |
Financial Health Grade: B
In 2024, Myers Vitkin Foundation Inc reported a deficit of $11K with expenses exceeding revenue, holds 38.1 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 (2012–2024), Myers Vitkin Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 4.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | -18.3% | +9.0% | -10.1% |
| 2023 | +13.9% | -5.0% | -3.6% |
| 2022 | +42.4% | +21.8% | -6.9% |
| 2021 | -3.8% | -1.7% | -7.3% |
| 2020 | +124.5% | +10.5% | -31.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1953 |
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 Myers Vitkin Foundation Inc 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: 85%
- fundraising: 0%
According to IRS 990 filings, Myers Vitkin Foundation Inc allocates its expenses as follows: admin: 15%, programs: 85%, fundraising: 0%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $11K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers or key employees receive salaries from the organization, which is highly commendable for a nonprofit of its size.
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 Myers Vitkin Foundation Inc's IRS 990 filings:
- Consistent deficit spending (expenses exceeding revenue) in all reported periods.
- Steady decline in total assets over the past decade, from $262,082 in 2012 to $99,668 in 2024.
Strengths
The following positive indicators were identified for Myers Vitkin Foundation Inc:
- Zero officer compensation reported across all filings, indicating efficient use of funds for leadership.
- Consistent filing of IRS Form 990s, demonstrating transparency.
Frequently Asked Questions about Myers Vitkin Foundation Inc
Is Myers Vitkin Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Myers Vitkin Foundation Inc (EIN: 131777780) some concerns. Mission Score: 65/100. 2 red flags identified, 2 strengths noted.
How does Myers Vitkin Foundation Inc spend its money?
Myers Vitkin Foundation Inc directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Myers Vitkin Foundation Inc tax-deductible?
Myers Vitkin Foundation Inc is registered as a tax-exempt nonprofit (EIN: 131777780). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Myers Vitkin Foundation Inc. financially sustainable?
Based on the provided data, the foundation consistently spends more than its revenue, leading to a steady decline in assets from $262,082 in 2012 to $99,668 in 2024. This model is not sustainable in the long term without new significant funding or a change in spending patterns.
What is the primary source of funding for the foundation?
The data shows consistent revenue, but given the asset drawdown, it appears the foundation primarily relies on its existing endowment or investment income, rather than significant external fundraising, to cover its expenses.
How does the lack of officer compensation impact the organization?
The absence of officer compensation (0% reported) suggests that leadership is either volunteer-based or compensated through other means not reported as officer compensation. This significantly reduces administrative overhead and allows more funds to be directed towards the mission.
Filing History
IRS 990 filing history for Myers Vitkin Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2012–2024), Myers Vitkin Foundation Inc's revenue has grown by 64.7%, moving from $12K to $20K. Total assets decreased by 62% over the same period, from $262K to $100K. Total functional expenses rose by 36.3%, from $23K to $31K. In its most recent filing year (2024), Myers Vitkin Foundation Inc reported a deficit of $11K, with expenses exceeding revenue. The organization holds $1 in liabilities against $100K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $100K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $20K | $31K | $100K | $1 | — | — |
| 2023 | $25K | $29K | $111K | $1 | — | — |
| 2022 | $22K | $30K | $115K | $1 | — | — |
| 2021 | $15K | $25K | $123K | $1 | — | View 990 |
| 2020 | $16K | $25K | $133K | $1 | — | View 990 |
| 2016 | $7K | $23K | $195K | $1 | — | View 990 |
| 2015 | $8K | $29K | $211K | $1 | — | View 990 |
| 2014 | $11K | $31K | $231K | $1 | — | View 990 |
| 2013 | $12K | $23K | $251K | $0 | — | View 990 |
| 2012 | $12K | $23K | $262K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $20K, expenses of $31K, and assets of $100K (revenue -18.3% year-over-year).
- 2023: Revenue of $25K, expenses of $29K, and assets of $111K (revenue +13.9% year-over-year).
- 2022: Revenue of $22K, expenses of $30K, and assets of $115K (revenue +42.4% year-over-year).
- 2021: Revenue of $15K, expenses of $25K, and assets of $123K (revenue -3.8% year-over-year).
- 2020: Revenue of $16K, expenses of $25K, and assets of $133K (revenue +124.5% year-over-year).
- 2016: Revenue of $7K, expenses of $23K, and assets of $195K (revenue -10.6% year-over-year).
- 2015: Revenue of $8K, expenses of $29K, and assets of $211K (revenue -27.8% year-over-year).
- 2014: Revenue of $11K, expenses of $31K, and assets of $231K (revenue -10.1% year-over-year).
- 2013: Revenue of $12K, expenses of $23K, and assets of $251K (revenue -0.9% year-over-year).
- 2012: Revenue of $12K, expenses of $23K, and assets of $262K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Myers Vitkin Foundation Inc:
Data Sources and Methodology
This transparency report for Myers Vitkin 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.