Nori Foundation Inc
Nori Foundation Inc. faces declining assets due to recent spending exceeding revenue, despite no reported officer compensation.
EIN: 134006662 · Iselin, NJ · NTEE: X70 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.1M |
| Total Expenses | $1.4M |
| Program Spending | 75% |
| Net Assets | $4.1M |
| Transparency Score | 70/100 |
Is Nori Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Nori Foundation Inc directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Nori Foundation Inc
Nori Foundation Inc (EIN: 134006662) is a nonprofit organization based in Iselin, NJ, classified under NTEE code X70. The organization reported total revenue of $1.1M and total assets of $5.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Nori Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Nori Foundation Inc is a mid-size nonprofit that has been operating for 27 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -1.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.2M |
| Total Expenses | $1.4M |
| Surplus / Deficit | $-233,037 |
| Total Assets | $5.0M |
| Total Liabilities | $943K |
| Net Assets | $4.1M |
| Operating Margin | -20.2% |
| Debt-to-Asset Ratio | 18.8% |
| Months of Reserves | 43.4 months |
Financial Health Grade: B
In 2023, Nori Foundation Inc reported a deficit of $233K with expenses exceeding revenue, holds 43.4 months of operating reserves (strong position), has a debt-to-asset ratio of 18.8% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Nori Foundation Inc's revenue has declined at a compound annual growth rate (CAGR) of -1.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +81.7% | +40.2% | -14.6% |
| 2022 | -43.2% | +4.3% | -6.6% |
| 2021 | +72.7% | -10.4% | -2.7% |
| 2020 | -40.1% | -2.6% | -3.9% |
| 2019 | -1.0% | +5.2% | +5.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1700 |
| IRS Ruling Date | 1999 |
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 Nori Foundation Inc with a Mission Score of 70 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: 75%
- fundraising: 10%
According to IRS 990 filings, Nori Foundation Inc 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 $233K, with expenses exceeding revenue.
- Debt-to-asset ratio: 18.8%.
Executive Compensation Analysis
Nori Foundation Inc. consistently reports 0% officer compensation across all available filings, indicating that no salaries or other compensation are paid to its officers, which is a strong positive for minimizing administrative 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 Nori Foundation Inc's IRS 990 filings:
- Consistent decline in assets from $6,712,142 in 2019 to $4,980,083 in 2023.
- Expenses exceeding revenue in multiple recent periods (e.g., 2023 and 2022), indicating a reliance on reserves.
- Increase in liabilities in some periods, such as from $943,051 in 2023 to $1,565,761 in 2022 (though it decreased again in 2023).
Strengths
The following positive indicators were identified for Nori Foundation Inc:
- No reported officer compensation across all filings, indicating efficient use of funds regarding executive pay.
- Substantial asset base of nearly $5 million, providing a buffer for operations.
- Consistent filing of IRS Form 990s, demonstrating transparency.
- Long operational history with 10 filings, suggesting stability and experience.
Frequently Asked Questions about Nori Foundation Inc
Is Nori Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Nori Foundation Inc (EIN: 134006662) some concerns. Mission Score: 70/100. 3 red flags identified, 4 strengths noted.
How does Nori Foundation Inc spend its money?
Nori Foundation Inc directs 75% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Nori Foundation Inc tax-deductible?
Nori Foundation Inc is registered as a tax-exempt nonprofit (EIN: 134006662). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Nori Foundation Inc's spending goes to programs?
Nori Foundation Inc directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Nori Foundation Inc compare to similar nonprofits?
With a transparency score of 70/100 (Good), Nori Foundation Inc is above average for NTEE category X70 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Nori Foundation Inc located?
Nori Foundation Inc is headquartered in Iselin, New Jersey and files with the IRS under EIN 134006662. It is classified under NTEE code X70.
How many years of IRS 990 filings does Nori Foundation Inc have?
Nori Foundation Inc 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 $1.1M in total revenue.
Why have expenses exceeded revenue in recent years, such as $1,385,099 in expenses against $1,152,062 in revenue in 2023?
The filings show a trend of expenses surpassing revenue in several recent periods, leading to a draw-down on assets. This could be due to strategic investments, increased program delivery costs, or temporary funding shortfalls.
What is the detailed breakdown of program, administrative, and fundraising expenses?
The provided data only gives total expenses. A detailed breakdown is needed to accurately assess spending efficiency and ensure a high percentage of funds go directly to programs.
What is the plan to address the consistent decline in assets from $6,712,142 in 2019 to $4,980,083 currently?
The organization's assets have decreased by over $1.7 million in four years. Understanding the strategy to stabilize or grow assets is crucial for long-term sustainability.
Filing History
IRS 990 filing history for Nori Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Nori Foundation Inc's revenue has declined by 16.7%, moving from $1.4M to $1.2M. Total assets decreased by 11.8% over the same period, from $5.7M to $5.0M. Total functional expenses rose by 40.4%, from $986K to $1.4M. In its most recent filing year (2023), Nori Foundation Inc reported a deficit of $233K, with expenses exceeding revenue. The organization holds $943K in liabilities against $5.0M in assets (debt-to-asset ratio: 18.8%), resulting in net assets of $4.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.2M | $1.4M | $5.0M | $943K | — | — |
| 2022 | $634K | $988K | $5.9M | $1.6M | — | View 990 |
| 2021 | $1.1M | $947K | $6.3M | $1.6M | — | View 990 |
| 2020 | $646K | $1.1M | $6.5M | $1.9M | — | View 990 |
| 2019 | $1.1M | $1.1M | $6.7M | $2.0M | — | View 990 |
| 2015 | $1.1M | $1.0M | $6.3M | $1.5M | — | View 990 |
| 2014 | $1.2M | $1.1M | $6.2M | $1.4M | — | View 990 |
| 2013 | $1.4M | $1.1M | $6.2M | $1.4M | — | View 990 |
| 2012 | $1 | $51K | $5.9M | $2.1M | — | View 990 |
| 2011 | $1.4M | $986K | $5.7M | $1.7M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.2M, expenses of $1.4M, and assets of $5.0M (revenue +81.7% year-over-year).
- 2022: Revenue of $634K, expenses of $988K, and assets of $5.9M (revenue -43.2% year-over-year).
- 2021: Revenue of $1.1M, expenses of $947K, and assets of $6.3M (revenue +72.7% year-over-year).
- 2020: Revenue of $646K, expenses of $1.1M, and assets of $6.5M (revenue -40.1% year-over-year).
- 2019: Revenue of $1.1M, expenses of $1.1M, and assets of $6.7M (revenue -1.0% year-over-year).
- 2015: Revenue of $1.1M, expenses of $1.0M, and assets of $6.3M (revenue -5.6% year-over-year).
- 2014: Revenue of $1.2M, expenses of $1.1M, and assets of $6.2M (revenue -17.0% year-over-year).
- 2013: Revenue of $1.4M, expenses of $1.1M, and assets of $6.2M (revenue +139137400.0% year-over-year).
- 2012: Revenue of $1, expenses of $51K, and assets of $5.9M (revenue -100.0% year-over-year).
- 2011: Revenue of $1.4M, expenses of $986K, and assets of $5.7M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Nori Foundation Inc:
Data Sources and Methodology
This transparency report for Nori 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.