Peterson Family Foundation
Peterson Family Foundation experiences recent financial deficit and significant asset decline.
EIN: 141983671 · Excelsior, MN · NTEE: T22 · Updated: 2026-03-28
Is Peterson Family Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Peterson Family Foundation directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Peterson Family Foundation
Peterson Family Foundation (EIN: 141983671) is a nonprofit organization based in Excelsior, MN, classified under NTEE code T22. The organization reported total revenue of $49K and total assets of $250 according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Peterson Family Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Peterson Family Foundation 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: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Peterson Family Foundation allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% 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 officers are not compensated or their compensation is below reporting thresholds, which is positive 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 Peterson Family Foundation's IRS 990 filings:
- Significant operating deficit in the latest filing period (2022: Expenses $69,577 vs. Revenue $49,350).
- Drastic decline in assets from $340,671 in 2019 to $250 in 2022.
- Fluctuating revenue streams, including a year with $0 revenue and $0 expenses in 2020.
Strengths
The following positive indicators were identified for Peterson Family Foundation:
- Consistent 0% officer compensation reported across all filings, indicating efficient use of funds for leadership.
- History of significant revenue generation in certain years (e.g., $393,746 in 2019).
Frequently Asked Questions about Peterson Family Foundation
Is Peterson Family Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Peterson Family Foundation (EIN: 141983671) some concerns. Mission Score: 70/100. 3 red flags identified, 2 strengths noted.
How does Peterson Family Foundation spend its money?
Peterson Family Foundation directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Peterson Family Foundation tax-deductible?
Peterson Family Foundation is registered as a tax-exempt nonprofit (EIN: 141983671). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Peterson Family Foundation a good charity?
The Peterson Family Foundation demonstrates a commitment to its mission through 0% officer compensation, suggesting resources are directed elsewhere. However, the recent financial deficit in 2022 (expenses of $69,577 exceeding revenue of $49,350) and a significant decline in assets from $340,671 in 2019 to $250 in 2022 raise concerns about its current financial stability and long-term viability. Donors should investigate the reasons for these financial shifts.
What caused the significant drop in assets from $340,671 in 2019 to $250 in 2022?
The IRS 990 data alone does not specify the exact cause. This drastic reduction in assets, alongside the 2022 operating deficit, suggests either substantial program spending, significant investment losses, or a major distribution of funds. Further inquiry into the foundation's activities during this period would be necessary.
How does the foundation cover its expenses when revenue is lower, as seen in 2022?
In 2022, with expenses of $69,577 and revenue of $49,350, the foundation operated at a deficit. This deficit would typically be covered by drawing down on existing assets or incurring liabilities. The increase in liabilities to $1,000 in 2022, combined with the sharp decrease in assets, suggests a combination of these methods.
Filing History
IRS 990 filing history for Peterson Family Foundation showing financial trends over 9 years of public records:
Over 9 years of IRS 990 filings (2011–2022), Peterson Family Foundation's revenue has grown by 123.1%, moving from $22K to $49K. Total assets decreased by 99.8% over the same period, from $110K to $250. Total functional expenses rose by 368.4%, from $15K to $70K. In its most recent filing year (2022), Peterson Family Foundation reported a deficit of $20K, with expenses exceeding revenue. The organization holds $1K in liabilities against $250 in assets (debt-to-asset ratio: 400.0%), resulting in net assets of $-750.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2022 | $49K | $70K | $250 | $1K | — | View 990 |
| 2021 | $137K | $118K | $19K | $1 | — | View 990 |
| 2020 | $0 | $0 | $37K | $0 | — | — |
| 2019 | $394K | $70K | $341K | $0 | — | View 990 |
| 2015 | $50K | $27K | $169K | $0 | — | View 990 |
| 2014 | $42K | $31K | $153K | $0 | — | View 990 |
| 2013 | $48K | $37K | $146K | $0 | — | View 990 |
| 2012 | $40K | $41K | $133K | $0 | — | View 990 |
| 2011 | $22K | $15K | $110K | $0 | — | — |
Year-by-Year Financial Summary
- 2022: Revenue of $49K, expenses of $70K, and assets of $250 (revenue -64.0% year-over-year).
- 2021: Revenue of $137K, expenses of $118K, and assets of $19K.
- 2020: Revenue of $0, expenses of $0, and assets of $37K (revenue -100.0% year-over-year).
- 2019: Revenue of $394K, expenses of $70K, and assets of $341K (revenue +687.3% year-over-year).
- 2015: Revenue of $50K, expenses of $27K, and assets of $169K (revenue +18.4% year-over-year).
- 2014: Revenue of $42K, expenses of $31K, and assets of $153K (revenue -11.2% year-over-year).
- 2013: Revenue of $48K, expenses of $37K, and assets of $146K (revenue +20.1% year-over-year).
- 2012: Revenue of $40K, expenses of $41K, and assets of $133K (revenue +79.1% year-over-year).
- 2011: Revenue of $22K, expenses of $15K, and assets of $110K.
Data Sources and Methodology
This transparency report for Peterson Family 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.