Philip J Solondz Family Foundation
Philip J Solondz Family Foundation: Consistent Giving, Minimal Overhead
EIN: 223048830 · Millburn, NJ · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $1.8M |
| Total Expenses | $516K |
| Program Spending | 99% |
| Net Assets | $6.4M |
| Transparency Score | 85/100 |
Is Philip J Solondz Family Foundation Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Philip J Solondz Family Foundation directs 99% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Philip J Solondz Family Foundation
Philip J Solondz Family Foundation (EIN: 223048830) is a nonprofit organization based in Millburn, NJ. The organization reported total revenue of $1.8M and total assets of $6.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Philip J Solondz Family Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Philip J Solondz Family Foundation is a mid-size nonprofit that has been operating for 35 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 10.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $515K |
| Total Expenses | $516K |
| Surplus / Deficit | $-1,070 |
| Total Assets | $6.4M |
| Total Liabilities | $1 |
| Net Assets | $6.4M |
| Operating Margin | -0.2% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 149.4 months |
Financial Health Grade: B
In 2023, Philip J Solondz Family Foundation reported a deficit of $1K with expenses exceeding revenue, holds 149.4 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Philip J Solondz Family Foundation's revenue has grown at a compound annual growth rate (CAGR) of 10.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +11.9% | -17.8% | +-0.0% |
| 2022 | -46.1% | -7.6% | -2.5% |
| 2021 | +289.2% | +54.7% | +10.9% |
| 2020 | -83.7% | +17.2% | -3.6% |
| 2019 | -12.4% | -4.4% | +16.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1991 |
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 Philip J Solondz Family Foundation with a Mission Score of 85 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: 1%
- programs: 99%
- fundraising: 0%
According to IRS 990 filings, Philip J Solondz Family Foundation allocates its expenses as follows: admin: 1%, programs: 99%, fundraising: 0%. With 99% 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 $1K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The foundation reports zero compensation for officers, directors, trustees, and key employees, as indicated by 'c0%' in all available filings, suggesting a volunteer-led or unpaid leadership structure.
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.
Strengths
The following positive indicators were identified for Philip J Solondz Family Foundation:
- Extremely low administrative and fundraising costs, with nearly all expenses directed towards programs.
- Consistent asset growth over the past decade, from $4,123,307 in 2013 to $6,546,822 in 2023.
- Stable and predictable expense patterns, indicating sound financial planning.
Frequently Asked Questions about Philip J Solondz Family Foundation
Is Philip J Solondz Family Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Philip J Solondz Family Foundation (EIN: 223048830) appears legitimate. Mission Score: 85/100. 0 red flags identified, 3 strengths noted.
How does Philip J Solondz Family Foundation spend its money?
Philip J Solondz Family Foundation directs 99% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Philip J Solondz Family Foundation tax-deductible?
Philip J Solondz Family Foundation is registered as a tax-exempt nonprofit (EIN: 223048830). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Philip J Solondz Family Foundation located?
Philip J Solondz Family Foundation is headquartered in Millburn, New Jersey and files with the IRS under EIN 223048830.
How many years of IRS 990 filings does Philip J Solondz Family Foundation have?
Philip J Solondz Family Foundation 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 $1.8M in total revenue.
What does Philip J Solondz Family Foundation do?
Philip J Solondz Family Foundation is a nonprofit organization in the Unknown sector, located in Millburn, New Jersey. It is classified under NTEE code Unknown.
How much revenue does Philip J Solondz Family Foundation have?
Philip J Solondz Family Foundation reported total revenue of $1,754,244. Based on 10 IRS 990 filings on record.
What are Philip J Solondz Family Foundation's total assets?
Philip J Solondz Family Foundation holds total assets of $6,546,822 as reported in IRS 990 filings.
Where is Philip J Solondz Family Foundation located?
Philip J Solondz Family Foundation is based in Millburn, New Jersey.
What is Philip J Solondz Family Foundation's EIN?
Philip J Solondz Family Foundation's Employer Identification Number (EIN) is 223048830. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Philip J Solondz Family Foundation?
Philip J Solondz Family Foundation is classified under NTEE code Unknown (Unknown).
Is Philip J Solondz Family Foundation a registered 501(c)(3)?
Philip J Solondz Family Foundation appears in IRS records (EIN: 223048830). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Philip J Solondz Family Foundation file IRS Form 990?
Yes, Philip J Solondz Family Foundation has 10 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Philip J Solondz Family Foundation's revenue in 2023?
In the 202312 filing period, Philip J Solondz Family Foundation reported total revenue of $514,611, total expenses of $515,681, and net assets of $6,420,556.
Is Philip J Solondz Family Foundation's revenue growing or declining?
Philip J Solondz Family Foundation's revenue is growing. Revenue went from $459,774 (202212) to $514,611 (202312), a +11.9% change. Based on 10 filings on record.
What is Philip J Solondz Family Foundation's most recent 990 filing?
The most recent IRS Form 990 filing for Philip J Solondz Family Foundation covers tax period 202312. It shows revenue of $514,611, expenses of $515,681, total assets of $6,420,556, and liabilities of $1.
How much does Philip J Solondz Family Foundation spend on programs vs administration?
Based on IRS 990 analysis, Philip J Solondz Family Foundation allocates approximately 99% of expenses to program services, 1% to administrative costs, and 0% to fundraising. This indicates strong program focus.
Is Philip J Solondz Family Foundation a trustworthy charity?
Based on AI analysis of IRS 990 data, Philip J Solondz Family Foundation appears trustworthy. Mission Score: 85/100 (Excellent). No red flags identified. 3 strengths noted.
What are Philip J Solondz Family Foundation's strengths?
Positive indicators for Philip J Solondz Family Foundation include: Extremely low administrative and fundraising costs, with nearly all expenses directed towards programs.. Consistent asset growth over the past decade, from $4,123,307 in 2013 to $6,546,822 in 2023.. Stable and predictable expense patterns, indicating sound financial planning.. These findings are derived from AI analysis of the organization's financial filings.
How does Philip J Solondz Family Foundation compensate executives?
The foundation reports zero compensation for officers, directors, trustees, and key employees, as indicated by 'c0%' in all available filings, suggesting a volunteer-led or unpaid leadership structure. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How transparent is Philip J Solondz Family Foundation?
- The foundation consistently reports zero fundraising expenses across all available filings, indicating direct donor contributions or endowment-based funding. - Administrative expenses are consistently low, often less than 1% of total expenses, demonstrating efficient operational management. Transparency assessment is based on the availability and consistency of IRS 990 filing data, spending disclosure, and governance indicators.
Given the consistent 'c0%' for compensation, how does the foundation manage its operations and governance without paid staff?
The 'c0%' indicates that the foundation's leadership and operational functions are likely performed on a volunteer basis, possibly by family members or dedicated individuals, which significantly reduces overhead costs and maximizes funds available for programs.
What is the primary source of revenue for the foundation, considering zero fundraising expenses and fluctuating annual revenues?
With no fundraising expenses, the primary revenue sources are likely investment income from its substantial assets (e.g., $6,546,822 in 2023) and potentially direct, unsolicited contributions or endowment distributions. The fluctuation in annual revenue (e.g., $1,343,466 in 2019 vs. $219,066 in 2020) is typical for investment-dependent foundations.
Filing History
IRS 990 filing history for Philip J Solondz Family Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Philip J Solondz Family Foundation's revenue has grown by 216.3%, moving from $163K to $515K. Total assets increased by 84.4% over the same period, from $3.5M to $6.4M. Total functional expenses rose by 283.3%, from $135K to $516K. In its most recent filing year (2023), Philip J Solondz Family Foundation reported a deficit of $1K, with expenses exceeding revenue. The organization holds $1 in liabilities against $6.4M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $6.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $515K | $516K | $6.4M | $1 | — | View 990 |
| 2022 | $460K | $628K | $6.4M | $1 | — | View 990 |
| 2021 | $853K | $679K | $6.6M | $1 | — | — |
| 2020 | $219K | $439K | $5.9M | $1 | — | View 990 |
| 2019 | $1.3M | $375K | $6.2M | $1 | — | View 990 |
| 2015 | $1.5M | $392K | $5.3M | $1 | — | View 990 |
| 2014 | $225K | $198K | $4.2M | $1 | — | View 990 |
| 2013 | $948K | $312K | $4.1M | $1 | — | View 990 |
| 2012 | $175K | $169K | $3.5M | $0 | — | View 990 |
| 2011 | $163K | $135K | $3.5M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $515K, expenses of $516K, and assets of $6.4M (revenue +11.9% year-over-year).
- 2022: Revenue of $460K, expenses of $628K, and assets of $6.4M (revenue -46.1% year-over-year).
- 2021: Revenue of $853K, expenses of $679K, and assets of $6.6M (revenue +289.2% year-over-year).
- 2020: Revenue of $219K, expenses of $439K, and assets of $5.9M (revenue -83.7% year-over-year).
- 2019: Revenue of $1.3M, expenses of $375K, and assets of $6.2M (revenue -12.4% year-over-year).
- 2015: Revenue of $1.5M, expenses of $392K, and assets of $5.3M (revenue +580.2% year-over-year).
- 2014: Revenue of $225K, expenses of $198K, and assets of $4.2M (revenue -76.2% year-over-year).
- 2013: Revenue of $948K, expenses of $312K, and assets of $4.1M (revenue +441.8% year-over-year).
- 2012: Revenue of $175K, expenses of $169K, and assets of $3.5M (revenue +7.6% year-over-year).
- 2011: Revenue of $163K, expenses of $135K, and assets of $3.5M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Philip J Solondz Family Foundation:
Data Sources and Methodology
This transparency report for Philip J Solondz 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.