Nova Foundation Inc
Nova Foundation Inc. experiences significant revenue decline and operates at a deficit in recent years.
EIN: 20807885 · Reno, NV · NTEE: T22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $15K |
| Total Expenses | $32K |
| Program Spending | 75% |
| Net Assets | $267K |
| Transparency Score | 65/100 |
Is Nova Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Nova Foundation Inc directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Nova Foundation Inc
Nova Foundation Inc (EIN: 20807885) is a nonprofit organization based in Reno, NV, classified under NTEE code T22. The organization reported total revenue of $15K and total assets of $227K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Nova Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Nova Foundation Inc is a micro nonprofit that has been operating for 19 years, with 8 years of IRS 990 filings on record (2011–2021). Revenue has grown at a compound annual rate of -27.3%.
Key Financial Metrics (2021)
From the most recent IRS 990 filing on record:
| Total Revenue | $21K |
| Total Expenses | $32K |
| Surplus / Deficit | $-11,144 |
| Total Assets | $267K |
| Total Liabilities | $1 |
| Net Assets | $267K |
| Operating Margin | -53.4% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 100.0 months |
Financial Health Grade: B
In 2021, Nova Foundation Inc reported a deficit of $11K with expenses exceeding revenue, holds 100.0 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 8 years of filings (2011–2021), Nova Foundation Inc's revenue has declined at a compound annual growth rate (CAGR) of -27.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2021 | +95.2% | +129.1% | +6.1% |
| 2020 | -30.7% | +98.4% | -2.9% |
| 2019 | +12.8% | -76.4% | -9.9% |
| 2015 | +35.4% | -9.5% | -7.9% |
| 2014 | -98.0% | -93.8% | +1.0% |
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 Nova 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: 75%
- fundraising: 10%
According to IRS 990 filings, Nova 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 (2021)
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
Nova Foundation Inc. consistently reports 0% officer compensation across all available filings, indicating that no salaries or benefits are paid to its officers, which is highly favorable for resource allocation.
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 Nova Foundation Inc's IRS 990 filings:
- Significant and sustained decline in annual revenue from over $500,000 to under $21,000.
- Consistent operating deficits in recent years (e.g., 2021: $20,880 revenue vs. $32,024 expenses).
- Steady decrease in total assets over the past decade, indicating reliance on reserves.
Strengths
The following positive indicators were identified for Nova Foundation Inc:
- Consistently reports 0% officer compensation, indicating efficient use of funds for leadership.
- Maintains minimal liabilities ($0 or $1), suggesting sound debt management.
- Long filing history (8 filings) indicates consistent compliance with IRS reporting requirements.
Frequently Asked Questions about Nova Foundation Inc
Is Nova Foundation Inc a legitimate charity?
Nova Foundation Inc (EIN: 20807885) is a registered tax-exempt nonprofit based in Nevada. Our AI analysis gives it a Mission Score of 65/100. It has 8 years of IRS 990 filings on record. Total revenue: $15K. 3 red flags identified. 3 strengths noted. Financial health grade: B.
How does Nova Foundation Inc spend its money?
Nova Foundation Inc directs 75% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Nova Foundation Inc tax-deductible?
Nova Foundation Inc is registered as a tax-exempt nonprofit (EIN: 20807885). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Nova Foundation Inc's spending goes to programs?
Nova Foundation Inc directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Nova Foundation Inc compare to similar nonprofits?
With a transparency score of 65/100 (Good), Nova Foundation Inc 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 Nova Foundation Inc located?
Nova Foundation Inc is headquartered in Reno, Nevada and files with the IRS under EIN 20807885. It is classified under NTEE code T22.
How many years of IRS 990 filings does Nova Foundation Inc have?
Nova Foundation Inc has 8 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 $15K in total revenue.
What caused the drastic decline in revenue from over $500,000 in 2013 to under $21,000 in 2021?
The provided data does not specify the reason for this significant drop, but it is a critical factor impacting the organization's operational capacity.
How does Nova Foundation Inc. cover its expenses when revenue is consistently lower, as seen in 2021 ($20,880 revenue vs. $32,024 expenses)?
The organization appears to be drawing down on its assets, which have decreased from $352,855 in 2011 to $227,481 currently, to cover operational deficits.
What are the specific program activities and their associated costs given the NTEE code T22 (Philanthropy, Voluntarism, and Grantmaking Foundations)?
The provided data does not offer a detailed breakdown of program expenses, making it difficult to assess the impact of its grantmaking or philanthropic activities.
Filing History
IRS 990 filing history for Nova Foundation Inc showing financial trends over 8 years of public records:
Over 8 years of IRS 990 filings (2011–2021), Nova Foundation Inc's revenue has declined by 95.9%, moving from $509K to $21K. Total assets decreased by 24.4% over the same period, from $353K to $267K. Total functional expenses fell by 94%, from $530K to $32K. In its most recent filing year (2021), Nova Foundation Inc reported a deficit of $11K, with expenses exceeding revenue. The organization holds $1 in liabilities against $267K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $267K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2021 | $21K | $32K | $267K | $1 | — | View 990 |
| 2020 | $11K | $14K | $251K | $1 | — | View 990 |
| 2019 | $15K | $7K | $259K | $1 | — | View 990 |
| 2015 | $14K | $30K | $287K | $0 | — | View 990 |
| 2014 | $10K | $33K | $312K | $0 | — | View 990 |
| 2013 | $512K | $534K | $309K | $0 | — | View 990 |
| 2012 | $501K | $534K | $317K | $0 | — | View 990 |
| 2011 | $509K | $530K | $353K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2021: Revenue of $21K, expenses of $32K, and assets of $267K (revenue +95.2% year-over-year).
- 2020: Revenue of $11K, expenses of $14K, and assets of $251K (revenue -30.7% year-over-year).
- 2019: Revenue of $15K, expenses of $7K, and assets of $259K (revenue +12.8% year-over-year).
- 2015: Revenue of $14K, expenses of $30K, and assets of $287K (revenue +35.4% year-over-year).
- 2014: Revenue of $10K, expenses of $33K, and assets of $312K (revenue -98.0% year-over-year).
- 2013: Revenue of $512K, expenses of $534K, and assets of $309K (revenue +2.3% year-over-year).
- 2012: Revenue of $501K, expenses of $534K, and assets of $317K (revenue -1.6% year-over-year).
- 2011: Revenue of $509K, expenses of $530K, and assets of $353K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Nova Foundation Inc:
Data Sources and Methodology
This transparency report for Nova 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.