Nfa Foundation Inc
Nfa Foundation Inc: Volatile Revenue, Strong Asset Base
EIN: 222678033 · Norwich, CT · NTEE: T30 · Updated: 2026-04-04
Is Nfa Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Nfa Foundation Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Nfa Foundation Inc
Nfa Foundation Inc (EIN: 222678033) is a nonprofit organization based in Norwich, CT, classified under NTEE code T30. The organization reported total revenue of $26.9M and total assets of $85.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Nfa Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Nfa Foundation Inc is a large nonprofit that has been operating for 40 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 4.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $3.7M |
| Total Expenses | $3.8M |
| Surplus / Deficit | $-101,036 |
| Total Assets | $80.2M |
| Total Liabilities | $4.4M |
| Net Assets | $75.8M |
| Operating Margin | -2.7% |
| Debt-to-Asset Ratio | 5.4% |
| Months of Reserves | 251.1 months |
Financial Health Grade: B
In 2023, Nfa Foundation Inc reported a deficit of $101K with expenses exceeding revenue, holds 251.1 months of operating reserves (strong position), has a debt-to-asset ratio of 5.4% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Nfa Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 4.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -31.1% | -73.8% | +4.0% |
| 2022 | +13.2% | +163.3% | -20.4% |
| 2021 | +26.3% | +41.1% | +22.1% |
| 2020 | +16.1% | +7.4% | -1.6% |
| 2019 | -44.0% | +57.8% | +2.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1986 |
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 Nfa Foundation Inc with a Mission Score of 75 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: 70%
- fundraising: 15%
According to IRS 990 filings, Nfa Foundation Inc allocates its expenses as follows: admin: 15%, programs: 70%, fundraising: 15%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $101K, with expenses exceeding revenue.
- Debt-to-asset ratio: 5.4%.
Executive Compensation Analysis
Executive compensation cannot be assessed from the provided data, as no specific figures for executive salaries are included in the financial snippets.
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 Nfa Foundation Inc's IRS 990 filings:
- Revenue in 2023 was $3,730,231, a significant drop from $5,415,738 in 2022, indicating potential instability in funding streams.
- Expenses in 2023 ($3,831,267) exceeded revenue ($3,730,231), resulting in a deficit for the year.
Strengths
The following positive indicators were identified for Nfa Foundation Inc:
- The organization maintains a substantial asset base, with $80,177,189 in 2023, providing financial stability despite revenue fluctuations.
- Total assets have shown consistent growth over the long term, from $69,191,690 in 2016 to $80,177,189 in 2023.
Frequently Asked Questions about Nfa Foundation Inc
Is Nfa Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Nfa Foundation Inc (EIN: 222678033) some concerns. Mission Score: 75/100. 2 red flags identified, 2 strengths noted.
How does Nfa Foundation Inc spend its money?
Nfa Foundation Inc directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Nfa Foundation Inc tax-deductible?
Nfa Foundation Inc is registered as a tax-exempt nonprofit (EIN: 222678033). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What does Nfa Foundation Inc do?
Nfa Foundation Inc is a nonprofit organization in the Philanthropy, Voluntarism & Grantmaking sector, located in Norwich, Connecticut. It is classified under NTEE code T30.
How much revenue does Nfa Foundation Inc have?
Nfa Foundation Inc reported total revenue of $26,919,391. Based on 13 IRS 990 filings on record.
What are Nfa Foundation Inc's total assets?
Nfa Foundation Inc holds total assets of $85,767,761 as reported in IRS 990 filings.
Where is Nfa Foundation Inc located?
Nfa Foundation Inc is based in Norwich, Connecticut.
What is Nfa Foundation Inc's EIN?
Nfa Foundation Inc's Employer Identification Number (EIN) is 222678033. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Nfa Foundation Inc?
Nfa Foundation Inc is classified under NTEE code T30 (Philanthropy, Voluntarism & Grantmaking).
Is Nfa Foundation Inc a registered 501(c)(3)?
Yes, Nfa Foundation Inc is recognized as a tax-exempt organization by the IRS. EIN: 222678033.
Does Nfa Foundation Inc file IRS Form 990?
Yes, Nfa Foundation Inc has 13 IRS Form 990 filings on record. The most recent covers tax period 202306.
What was Nfa Foundation Inc's revenue in 2023?
In the 202306 filing period, Nfa Foundation Inc reported total revenue of $3,730,231, total expenses of $3,831,267, and net assets of $80,177,189.
Is Nfa Foundation Inc's revenue growing or declining?
Nfa Foundation Inc's revenue is declining. Revenue went from $5,415,738 (202206) to $3,730,231 (202306), a -31.1% change. Based on 13 filings on record.
What is Nfa Foundation Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Nfa Foundation Inc covers tax period 202306. It shows revenue of $3,730,231, expenses of $3,831,267, total assets of $80,177,189, and liabilities of $4,355,404.
How much does Nfa Foundation Inc spend on programs vs administration?
Based on IRS 990 analysis, Nfa Foundation Inc allocates approximately 70% of expenses to program services, 15% to administrative costs, and 15% to fundraising. Program spending is moderate relative to overhead.
Is Nfa Foundation Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Nfa Foundation Inc appears trustworthy. Mission Score: 75/100 (Good). 2 red flags identified. 2 strengths noted.
What are the red flags for Nfa Foundation Inc?
The following concerns were identified: Revenue in 2023 was $3,730,231, a significant drop from $5,415,738 in 2022, indicating potential instability in funding streams.. Expenses in 2023 ($3,831,267) exceeded revenue ($3,730,231), resulting in a deficit for the year.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Nfa Foundation Inc's strengths?
Positive indicators for Nfa Foundation Inc include: The organization maintains a substantial asset base, with $80,177,189 in 2023, providing financial stability despite revenue fluctuations.. Total assets have shown consistent growth over the long term, from $69,191,690 in 2016 to $80,177,189 in 2023.. These findings are derived from AI analysis of the organization's financial filings.
How does Nfa Foundation Inc compensate executives?
Executive compensation cannot be assessed from the provided data, as no specific figures for executive salaries are included in the financial snippets. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the significant drop in revenue from 2022 to 2023, what specific strategies are being implemented to diversify funding sources and mitigate future revenue volatility?
The provided data does not detail specific strategies for revenue diversification. However, the substantial asset base could be leveraged to generate investment income or provide a buffer during periods of lower fundraising.
With expenses exceeding revenue in 2023, how does Nfa Foundation Inc plan to address this deficit and ensure long-term financial sustainability without depleting its significant asset reserves?
The data shows a deficit of $101,036 in 2023. Addressing this would likely involve either increasing revenue through new initiatives or reducing operational expenses. The large asset base could temporarily cover deficits but is not a sustainable long-term solution.
Filing History
IRS 990 filing history for Nfa Foundation Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Nfa Foundation Inc's revenue has grown by 59.9%, moving from $2.3M to $3.7M. Total assets increased by 31.1% over the same period, from $61.2M to $80.2M. Total functional expenses fell by 32.7%, from $5.7M to $3.8M. In its most recent filing year (2023), Nfa Foundation Inc reported a deficit of $101K, with expenses exceeding revenue. The organization holds $4.4M in liabilities against $80.2M in assets (debt-to-asset ratio: 5.4%), resulting in net assets of $75.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $3.7M | $3.8M | $80.2M | $4.4M | — | View 990 |
| 2022 | $5.4M | $14.6M | $77.1M | $4.3M | — | View 990 |
| 2021 | $4.8M | $5.6M | $96.9M | $3.7M | — | View 990 |
| 2020 | $3.8M | $3.9M | $79.4M | $3.7M | — | View 990 |
| 2019 | $3.3M | $3.7M | $80.6M | $3.1M | — | View 990 |
| 2018 | $5.8M | $2.3M | $79.0M | $2.6M | — | View 990 |
| 2017 | $3.2M | $2.7M | $75.5M | $2.9M | — | View 990 |
| 2016 | $3.1M | $3.3M | $69.2M | $3.1M | — | View 990 |
| 2015 | $4.3M | $2.7M | $73.6M | $3.1M | — | View 990 |
| 2014 | $3.1M | $1.0M | $73.8M | $2.1M | — | View 990 |
| 2013 | $5.7M | $2.3M | $64.9M | $3.1M | — | View 990 |
| 2012 | $1.7M | $2.3M | $58.1M | $2.3M | — | View 990 |
| 2011 | $2.3M | $5.7M | $61.2M | $1.7M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $3.7M, expenses of $3.8M, and assets of $80.2M (revenue -31.1% year-over-year).
- 2022: Revenue of $5.4M, expenses of $14.6M, and assets of $77.1M (revenue +13.2% year-over-year).
- 2021: Revenue of $4.8M, expenses of $5.6M, and assets of $96.9M (revenue +26.3% year-over-year).
- 2020: Revenue of $3.8M, expenses of $3.9M, and assets of $79.4M (revenue +16.1% year-over-year).
- 2019: Revenue of $3.3M, expenses of $3.7M, and assets of $80.6M (revenue -44.0% year-over-year).
- 2018: Revenue of $5.8M, expenses of $2.3M, and assets of $79.0M (revenue +80.1% year-over-year).
- 2017: Revenue of $3.2M, expenses of $2.7M, and assets of $75.5M (revenue +4.2% year-over-year).
- 2016: Revenue of $3.1M, expenses of $3.3M, and assets of $69.2M (revenue -27.9% year-over-year).
- 2015: Revenue of $4.3M, expenses of $2.7M, and assets of $73.6M (revenue +38.6% year-over-year).
- 2014: Revenue of $3.1M, expenses of $1.0M, and assets of $73.8M (revenue -45.1% year-over-year).
- 2013: Revenue of $5.7M, expenses of $2.3M, and assets of $64.9M (revenue +237.8% year-over-year).
- 2012: Revenue of $1.7M, expenses of $2.3M, and assets of $58.1M (revenue -28.2% year-over-year).
- 2011: Revenue of $2.3M, expenses of $5.7M, and assets of $61.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Nfa Foundation Inc:
Data Sources and Methodology
This transparency report for Nfa 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.