Peggy And Steve Fossett Foundation

Peggy And Steve Fossett Foundation maintains over $20 million in assets with zero reported officer compensation.

EIN: 204521801 · Chicago, IL · NTEE: U21 · Updated: 2026-03-28

$2.0MRevenue

$21.4MAssets

92/100Mission Score (Excellent)

U21

About Peggy And Steve Fossett Foundation

Peggy And Steve Fossett Foundation (EIN: 204521801) is a nonprofit organization based in Chicago, IL, classified under NTEE code U21. The organization reported total revenue of $2.0M and total assets of $21.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Peggy And Steve Fossett Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

The Peggy And Steve Fossett Foundation demonstrates consistent financial stability with substantial assets, averaging over $20 million in recent years, peaking at $22,207,155 in 2021. While revenue has fluctuated significantly, from a low of $157,410 in 2015 to a high of $5,048,588 in 2020, the organization has maintained a relatively stable expense level, typically around $1.5 million annually. This suggests a well-managed endowment providing consistent support for its operations, rather than relying heavily on annual fundraising. 

The foundation's spending efficiency appears strong, as indicated by the consistent zero officer compensation across all reported periods, suggesting that administrative costs are kept very low, or that leadership is entirely volunteer-based. The consistent low liabilities, often reported as $1 or $0, further underscores a healthy financial position and responsible fiscal management. The primary focus of the foundation, given its NTEE code U21 (Philanthropy, Voluntarism, and Grantmaking Foundations), is likely grantmaking, which inherently directs funds towards programmatic activities. 

Transparency is high given the consistent filing of IRS Form 990s over a decade, providing a clear historical financial picture. The absence of officer compensation is a notable positive for transparency and efficiency, as it indicates that a significant portion of funds is not diverted to executive salaries. The foundation's financial health is robust, supported by a substantial asset base that allows it to operate consistently despite varying annual revenues.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Peggy And Steve Fossett Foundation with a Mission Score of 92 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, Peggy And Steve Fossett 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.

Executive Compensation Analysis

Executive compensation is consistently reported as 0% across all available filings, indicating that the foundation's leadership is either entirely volunteer-based or compensated through other means not reported as officer compensation, which is highly efficient for an organization with over $20 million in assets.

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 Peggy And Steve Fossett Foundation's IRS 990 filings:

Significant year-to-year revenue volatility (e.g., $5M in 2020 vs. $157K in 2015)

Strengths

The following positive indicators were identified for Peggy And Steve Fossett Foundation:

Strong asset base, consistently over $20 million
Zero reported officer compensation across all filings
Very low liabilities, often $0 or $1
Consistent IRS 990 filing history over a decade
Stable expense levels despite revenue fluctuations

Frequently Asked Questions about Peggy And Steve Fossett Foundation

Is the Peggy And Steve Fossett Foundation financially stable?

Yes, the foundation is highly financially stable, consistently holding over $20 million in assets, with low liabilities and stable expenses, despite fluctuating annual revenues.

How much of the foundation's money goes to executive salaries?

Based on the IRS 990 filings, 0% of the foundation's expenses are reported as officer compensation across all available periods.

Does the foundation rely on annual donations for its operations?

Given its substantial asset base and fluctuating revenues, the foundation appears to primarily operate from its endowment, rather than being heavily reliant on annual donations.

Filing History

IRS 990 filing history for Peggy And Steve Fossett Foundation showing financial trends over 10 years of public records:

Over 10 years of IRS 990 filings (2011–2023), Peggy And Steve Fossett Foundation's revenue has grown by 170.5%, moving from $459K to $1.2M. Total assets increased by 2.1% over the same period, from $20.7M to $21.1M. Total functional expenses rose by 21.1%, from $1.3M to $1.6M. In its most recent filing year (2023), Peggy And Steve Fossett Foundation reported a deficit of $354K, with expenses exceeding revenue. The organization holds $1 in liabilities against $21.1M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $21.1M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$1.2M	$1.6M	$21.1M	$1	—	View 990
2022	$952K	$1.6M	$21.5M	$1	—	View 990
2021	$3.2M	$1.8M	$22.2M	$94K	—	—
2020	$5.0M	$1.6M	$20.7M	$3K	—	—
2019	$2.3M	$1.6M	$17.5M	$142K	—	View 990
2015	$157K	$1.5M	$18.1M	$0	—	View 990
2014	$637K	$1.3M	$19.4M	$0	—	View 990
2013	$703K	$1.3M	$20.1M	$0	—	View 990
2012	$1.4M	$1.4M	$20.7M	$0	—	View 990
2011	$459K	$1.3M	$20.7M	$0	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $1.2M, expenses of $1.6M, and assets of $21.1M (revenue +30.6% year-over-year).
2022: Revenue of $952K, expenses of $1.6M, and assets of $21.5M (revenue -70.2% year-over-year).
2021: Revenue of $3.2M, expenses of $1.8M, and assets of $22.2M (revenue -36.7% year-over-year).
2020: Revenue of $5.0M, expenses of $1.6M, and assets of $20.7M (revenue +121.2% year-over-year).
2019: Revenue of $2.3M, expenses of $1.6M, and assets of $17.5M (revenue +1350.2% year-over-year).
2015: Revenue of $157K, expenses of $1.5M, and assets of $18.1M (revenue -75.3% year-over-year).
2014: Revenue of $637K, expenses of $1.3M, and assets of $19.4M (revenue -9.4% year-over-year).
2013: Revenue of $703K, expenses of $1.3M, and assets of $20.1M (revenue -50.8% year-over-year).
2012: Revenue of $1.4M, expenses of $1.4M, and assets of $20.7M (revenue +210.8% year-over-year).
2011: Revenue of $459K, expenses of $1.3M, and assets of $20.7M.

Data Sources and Methodology

This transparency report for Peggy And Steve Fossett 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.