New Mighty Foundation
New Mighty Foundation consistently spends more than it earns, drawing down assets significantly over the past decade.
EIN: 204282979 · Washington, DC · NTEE: T22 · Updated: 2026-03-28
Is New Mighty Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
New Mighty Foundation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About New Mighty Foundation
New Mighty Foundation (EIN: 204282979) is a nonprofit organization based in Washington, DC, classified under NTEE code T22. The organization reported total revenue of $1.1M and total assets of $29.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of New Mighty Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
New Mighty Foundation is a mid-size nonprofit that has been operating for 20 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 2.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.0M |
| Total Expenses | $7.6M |
| Surplus / Deficit | $-6,503,788 |
| Total Assets | $32.1M |
| Total Liabilities | $1 |
| Net Assets | $32.1M |
| Operating Margin | -619.6% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 51.0 months |
Financial Health Grade: B
In 2023, New Mighty Foundation reported a deficit of $6.5M with expenses exceeding revenue, holds 51.0 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), New Mighty Foundation's revenue has grown at a compound annual growth rate (CAGR) of 2.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -95.6% | -16.3% | -16.9% |
| 2022 | +8059.2% | +194.7% | +64.7% |
| 2021 | -44.3% | -61.0% | -10.9% |
| 2020 | -39.7% | +221.4% | -21.8% |
| 2019 | +89.9% | -78.8% | -22.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2006 |
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 New Mighty Foundation with a Mission Score of 60 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: 5%
- programs: 90%
- fundraising: 5%
According to IRS 990 filings, New Mighty Foundation allocates its expenses as follows: admin: 5%, programs: 90%, fundraising: 5%. 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 $6.5M, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, suggesting either a volunteer-led executive team or that executive services are provided by an external entity, which is a positive indicator for minimizing overhead costs.
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 New Mighty Foundation's IRS 990 filings:
- Consistent and significant deficit spending (expenses far exceeding revenue) in most years, e.g., $7.5M expenses vs. $1.0M revenue in 2023.
- Substantial decline in total assets over the past decade, from $111.5M in 2011 to $29.9M currently, indicating a spend-down model.
- Unexplained large revenue fluctuation in 2022 ($24M) compared to typical annual revenues under $1M.
Strengths
The following positive indicators were identified for New Mighty Foundation:
- Zero reported officer compensation across all filings, indicating efficient use of funds for executive leadership or volunteer-led management.
- As a grantmaking foundation (T22), a high proportion of expenses are likely directed towards programmatic grants, aligning with mission.
- Consistent filing history (10 filings) demonstrates compliance with IRS reporting requirements.
Frequently Asked Questions about New Mighty Foundation
Is New Mighty Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, New Mighty Foundation (EIN: 204282979) some concerns. Mission Score: 60/100. 3 red flags identified, 3 strengths noted.
How does New Mighty Foundation spend its money?
New Mighty Foundation directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to New Mighty Foundation tax-deductible?
New Mighty Foundation is registered as a tax-exempt nonprofit (EIN: 204282979). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is New Mighty Foundation a good charity?
While the organization shows strong transparency regarding executive compensation and likely focuses on program spending given its foundation nature, its long-term financial sustainability is questionable due to consistently high expenses relative to revenue and a significant decline in assets over time. Donors should understand its funding model.
Why are expenses so much higher than revenue in most years?
As a grantmaking foundation (NTEE T22), it's common for such organizations to distribute more in grants (expenses) than they receive in new donations (revenue) in a given year, especially if they are spending down an endowment or large principal. This is evident in the substantial decrease in assets from $111.5M in 2011 to $29.9M currently.
What caused the large revenue spike in 2022?
The 2022 revenue of $24,090,146 is an outlier compared to other years, which typically show revenue under $1 million. This could be due to a large one-time donation, a significant investment gain, or a specific asset sale. Further investigation into the 2022 filing would be needed to determine the exact source.
Is the organization transparent about its operations?
The consistent reporting of $0 officer compensation across all filings suggests a high degree of transparency regarding executive pay. However, without a detailed breakdown of expenses, it's hard to fully assess operational transparency beyond this point.
Filing History
IRS 990 filing history for New Mighty Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), New Mighty Foundation's revenue has grown by 36.3%, moving from $770K to $1.0M. Total assets decreased by 71.2% over the same period, from $111.6M to $32.1M. Total functional expenses fell by 74.8%, from $30.0M to $7.6M. In its most recent filing year (2023), New Mighty Foundation reported a deficit of $6.5M, with expenses exceeding revenue. The organization holds $1 in liabilities against $32.1M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $32.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.0M | $7.6M | $32.1M | $1 | — | View 990 |
| 2022 | $24.1M | $9.0M | $38.6M | $1 | — | View 990 |
| 2021 | $295K | $3.1M | $23.4M | $1 | — | — |
| 2020 | $530K | $7.8M | $26.3M | $1 | — | View 990 |
| 2019 | $880K | $2.4M | $33.6M | $1 | — | View 990 |
| 2015 | $463K | $11.5M | $43.1M | $1 | — | View 990 |
| 2014 | $524K | $16.6M | $54.1M | $1 | — | View 990 |
| 2013 | $579K | $15.3M | $70.2M | $1 | — | View 990 |
| 2012 | $701K | $27.4M | $84.9M | $1 | — | View 990 |
| 2011 | $770K | $30.0M | $111.6M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.0M, expenses of $7.6M, and assets of $32.1M (revenue -95.6% year-over-year).
- 2022: Revenue of $24.1M, expenses of $9.0M, and assets of $38.6M (revenue +8059.2% year-over-year).
- 2021: Revenue of $295K, expenses of $3.1M, and assets of $23.4M (revenue -44.3% year-over-year).
- 2020: Revenue of $530K, expenses of $7.8M, and assets of $26.3M (revenue -39.7% year-over-year).
- 2019: Revenue of $880K, expenses of $2.4M, and assets of $33.6M (revenue +89.9% year-over-year).
- 2015: Revenue of $463K, expenses of $11.5M, and assets of $43.1M (revenue -11.6% year-over-year).
- 2014: Revenue of $524K, expenses of $16.6M, and assets of $54.1M (revenue -9.5% year-over-year).
- 2013: Revenue of $579K, expenses of $15.3M, and assets of $70.2M (revenue -17.4% year-over-year).
- 2012: Revenue of $701K, expenses of $27.4M, and assets of $84.9M (revenue -8.9% year-over-year).
- 2011: Revenue of $770K, expenses of $30.0M, and assets of $111.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for New Mighty Foundation:
Data Sources and Methodology
This transparency report for New Mighty 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.