Nazareth & Nila Festekjian Family Foundation
Nazareth & Nila Festekjian Family Foundation maintains zero officer compensation amidst fluctuating revenue and asset growth.
EIN: 208679656 · Wilmington, DE · NTEE: T22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.0M |
| Total Expenses | $87K |
| Program Spending | 90% |
| Net Assets | $1.4M |
| Transparency Score | 85/100 |
Is Nazareth & Nila Festekjian Family Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Nazareth & Nila Festekjian Family Foundation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Nazareth & Nila Festekjian Family Foundation
Nazareth & Nila Festekjian Family Foundation (EIN: 208679656) is a nonprofit organization based in Wilmington, DE, classified under NTEE code T22. The organization reported total revenue of $1.0M and total assets of $2.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Nazareth & Nila Festekjian Family Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Nazareth & Nila Festekjian Family Foundation is a mid-size nonprofit that has been operating for 19 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 60.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $41K |
| Total Expenses | $87K |
| Surplus / Deficit | $-46,262 |
| Total Assets | $1.4M |
| Total Liabilities | $1 |
| Net Assets | $1.4M |
| Operating Margin | -112.6% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 196.8 months |
Financial Health Grade: B
In 2023, Nazareth & Nila Festekjian Family Foundation reported a deficit of $46K with expenses exceeding revenue, holds 196.8 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), Nazareth & Nila Festekjian Family Foundation's revenue has grown at a compound annual growth rate (CAGR) of 60.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +53.1% | -13.1% | -3.1% |
| 2022 | +17.0% | +33.1% | -4.7% |
| 2021 | -95.6% | +51.8% | -3.3% |
| 2020 | +592.9% | +74.8% | +42.0% |
| 2019 | -50.2% | -5.5% | +89.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2007 |
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 Nazareth & Nila Festekjian Family Foundation 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: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Nazareth & Nila Festekjian Family Foundation 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 deficit of $46K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no salaries are paid to executives, which is common for family foundations and suggests high efficiency in this area.
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 Nazareth & Nila Festekjian Family Foundation's IRS 990 filings:
- Expenses consistently exceeding revenue in recent years (2021-2023), potentially drawing down assets.
Strengths
The following positive indicators were identified for Nazareth & Nila Festekjian Family Foundation:
- Consistent 0% officer compensation, indicating high efficiency in executive pay.
- Significant growth in assets over the past decade, from $45,576 in 2011 to $1,432,836 in 2023.
- Very low liabilities ($1 across all reported periods), indicating strong financial stability.
Frequently Asked Questions about Nazareth & Nila Festekjian Family Foundation
Is Nazareth & Nila Festekjian Family Foundation a legitimate charity?
Nazareth & Nila Festekjian Family Foundation (EIN: 208679656) is a registered tax-exempt nonprofit based in Delaware. Our AI analysis gives it a Mission Score of 85/100. It has 10 years of IRS 990 filings on record. Total revenue: $1.0M. 1 red flag identified. 3 strengths noted. Financial health grade: B.
How does Nazareth & Nila Festekjian Family Foundation spend its money?
Nazareth & Nila Festekjian Family Foundation directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Nazareth & Nila Festekjian Family Foundation tax-deductible?
Nazareth & Nila Festekjian Family Foundation is registered as a tax-exempt nonprofit (EIN: 208679656). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Nazareth & Nila Festekjian Family Foundation compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Nazareth & Nila Festekjian Family Foundation is above average for NTEE category T22 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Nazareth & Nila Festekjian Family Foundation located?
Nazareth & Nila Festekjian Family Foundation is headquartered in Wilmington, Delaware and files with the IRS under EIN 208679656. It is classified under NTEE code T22.
How many years of IRS 990 filings does Nazareth & Nila Festekjian Family Foundation have?
Nazareth & Nila Festekjian Family Foundation 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 $1.0M in total revenue.
What are the primary programs or grants funded by the Nazareth & Nila Festekjian Family Foundation?
Based on the provided data, specific program details are not available. However, as a private foundation (NTEE T22), its primary activities would typically involve making grants to other organizations or individuals for charitable purposes.
Why have expenses exceeded revenue in the last three reported periods (2021-2023)?
In 2023, expenses were $87,348 against $41,086 in revenue; in 2022, expenses were $100,542 against $26,833 in revenue; and in 2021, expenses were $75,525 against $22,932 in revenue. This trend suggests the foundation may be drawing from its accumulated assets to fund its activities or grants, which is not uncommon for foundations but warrants attention if it continues long-term without significant revenue increases.
How does the foundation manage its administrative costs given its zero officer compensation?
The consistent reporting of 0% officer compensation suggests that administrative functions are likely handled by volunteers, family members without compensation, or through minimal outsourced services, contributing to a very low administrative overhead.
Filing History
IRS 990 filing history for Nazareth & Nila Festekjian Family Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Nazareth & Nila Festekjian Family Foundation's revenue has grown by 29039%, moving from $141 to $41K. Total assets increased by 3043.8% over the same period, from $46K to $1.4M. Total functional expenses rose by 2784.7%, from $3K to $87K. In its most recent filing year (2023), Nazareth & Nila Festekjian Family Foundation reported a deficit of $46K, with expenses exceeding revenue. The organization holds $1 in liabilities against $1.4M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $1.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $41K | $87K | $1.4M | $1 | — | View 990 |
| 2022 | $27K | $101K | $1.5M | $1 | — | View 990 |
| 2021 | $23K | $76K | $1.6M | $1 | — | View 990 |
| 2020 | $525K | $50K | $1.6M | $1 | — | View 990 |
| 2019 | $76K | $28K | $1.1M | $1 | — | View 990 |
| 2015 | $152K | $30K | $598K | $1 | — | View 990 |
| 2014 | $147K | $24K | $476K | $1 | — | View 990 |
| 2013 | $112K | $27K | $353K | $1 | — | View 990 |
| 2012 | $225K | $3K | $268K | $1 | — | View 990 |
| 2011 | $141 | $3K | $46K | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $41K, expenses of $87K, and assets of $1.4M (revenue +53.1% year-over-year).
- 2022: Revenue of $27K, expenses of $101K, and assets of $1.5M (revenue +17.0% year-over-year).
- 2021: Revenue of $23K, expenses of $76K, and assets of $1.6M (revenue -95.6% year-over-year).
- 2020: Revenue of $525K, expenses of $50K, and assets of $1.6M (revenue +592.9% year-over-year).
- 2019: Revenue of $76K, expenses of $28K, and assets of $1.1M (revenue -50.2% year-over-year).
- 2015: Revenue of $152K, expenses of $30K, and assets of $598K (revenue +3.7% year-over-year).
- 2014: Revenue of $147K, expenses of $24K, and assets of $476K (revenue +30.4% year-over-year).
- 2013: Revenue of $112K, expenses of $27K, and assets of $353K (revenue -50.1% year-over-year).
- 2012: Revenue of $225K, expenses of $3K, and assets of $268K (revenue +159679.4% year-over-year).
- 2011: Revenue of $141, expenses of $3K, and assets of $46K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Nazareth & Nila Festekjian Family Foundation:
Data Sources and Methodology
This transparency report for Nazareth & Nila Festekjian Family Foundation 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.