Pisces Foundation
Pisces Foundation consistently directs high percentage of expenses to programs despite volatile revenue.
EIN: 207415160 · San Francisco, CA · NTEE: T21 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $109.5M |
| Total Expenses | $18.7M |
| Program Spending | 90% |
| Net Assets | $21.3M |
| Transparency Score | 92/100 |
Is Pisces Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Pisces Foundation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Pisces Foundation
Pisces Foundation (EIN: 207415160) is a nonprofit organization based in San Francisco, CA, classified under NTEE code T21. The organization reported total revenue of $109.5M and total assets of $54.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Pisces Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Pisces Foundation is a major nonprofit that has been operating for 19 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 86.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $35.0M |
| Total Expenses | $18.7M |
| Surplus / Deficit | +$16.3M |
| Total Assets | $25.8M |
| Total Liabilities | $4.5M |
| Net Assets | $21.3M |
| Operating Margin | 46.6% |
| Debt-to-Asset Ratio | 17.4% |
| Months of Reserves | 16.5 months |
Financial Health Grade: A
In 2023, Pisces Foundation reported a surplus of $16.3M with revenue exceeding expenses, holds 16.5 months of operating reserves (strong position), has a debt-to-asset ratio of 17.4% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Pisces Foundation's revenue has grown at a compound annual growth rate (CAGR) of 86.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +5634.9% | -29.5% | +102.0% |
| 2022 | -98.5% | +7.8% | -65.2% |
| 2021 | +719.8% | +7.1% | +91.8% |
| 2019 | -113.2% | +39.4% | -34.1% |
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 Pisces 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: 7%
- programs: 90%
- fundraising: 3%
According to IRS 990 filings, Pisces Foundation allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. With 90% 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 surplus of $16.3M, with revenue exceeding expenses.
- Debt-to-asset ratio: 17.4%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that officers do not receive salaries from the organization, which is a strong positive for transparency and 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 Pisces Foundation's IRS 990 filings:
- Highly volatile revenue streams, with significant year-to-year fluctuations (e.g., negative revenue in 201906 and very high revenue in 202206).
Strengths
The following positive indicators were identified for Pisces Foundation:
- Strong program spending ratio, consistently allocating a high percentage of expenses to mission-related activities (e.g., 90% in 202306).
- Zero officer compensation reported across all filings, indicating excellent transparency and dedication of resources to the mission.
- Healthy asset base ($54,509,748) significantly exceeding liabilities, providing financial stability.
- Consistent filing history over 10 periods, demonstrating commitment to transparency and compliance.
Frequently Asked Questions about Pisces Foundation
Is Pisces Foundation a legitimate charity?
Pisces Foundation (EIN: 207415160) is a registered tax-exempt nonprofit based in California. Our AI analysis gives it a Mission Score of 92/100. It has 10 years of IRS 990 filings on record. Total revenue: $109.5M. 1 red flag identified. 4 strengths noted. Financial health grade: A.
How does Pisces Foundation spend its money?
Pisces Foundation directs 90% of its spending to programs and services. Fundraising costs 3%. This exceeds the 65% industry benchmark.
Are donations to Pisces Foundation tax-deductible?
Pisces Foundation is registered as a tax-exempt nonprofit (EIN: 207415160). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Pisces Foundation's spending goes to programs?
Pisces Foundation directs 90% to programs, 3% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Pisces Foundation compare to similar nonprofits?
With a transparency score of 92/100 (Excellent), Pisces Foundation is above average for NTEE category T21 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Pisces Foundation located?
Pisces Foundation is headquartered in San Francisco, California and files with the IRS under EIN 207415160. It is classified under NTEE code T21.
How many years of IRS 990 filings does Pisces Foundation have?
Pisces 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 $109.5M in total revenue.
Is Pisces Foundation a good charity?
Based on its financial data, Pisces Foundation appears to be a good charity. It consistently allocates a very high percentage of its expenses to program services (e.g., 90% in 202306), indicating strong mission focus. The absence of officer compensation also speaks to its commitment to directing funds to its cause.
How does Pisces Foundation manage its highly fluctuating revenue?
While the filings show significant revenue volatility (e.g., $-3,020,266 in 201906 vs. $610,604,000 in 202206), the foundation has maintained a substantial asset base ($54,509,748 currently) and low liabilities, suggesting effective asset management to buffer against revenue swings and ensure continued program funding.
What is the typical program spending ratio for Pisces Foundation?
Pisces Foundation consistently demonstrates a high program spending ratio. For example, in the 202306 period, 90% of its $18,707,347 in expenses were dedicated to program services. This trend is generally consistent across filings where program expenses are detailed.
Filing History
IRS 990 filing history for Pisces Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Pisces Foundation's revenue has grown by 176131.8%, moving from $20K to $35.0M. Total assets increased by 886.4% over the same period, from $2.6M to $25.8M. Total functional expenses rose by 135.6%, from $7.9M to $18.7M. In its most recent filing year (2023), Pisces Foundation reported a surplus of $16.3M, with revenue exceeding expenses. The organization holds $4.5M in liabilities against $25.8M in assets (debt-to-asset ratio: 17.4%), resulting in net assets of $21.3M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $35.0M | $18.7M | $25.8M | $4.5M | — | — |
| 2022 | $611K | $26.5M | $12.8M | $7.8M | — | View 990 |
| 2021 | $40.5M | $24.6M | $36.7M | $5.8M | — | View 990 |
| 2020 | $4.9M | $23.0M | $19.1M | $4.1M | — | View 990 |
| 2019 | $-3,020,266 | $17.1M | $34.0M | $875K | — | View 990 |
| 2015 | $23.0M | $12.3M | $51.6M | $615K | — | View 990 |
| 2014 | $406K | $9.4M | $40.3M | $80K | — | View 990 |
| 2013 | $45.8M | $9.6M | $49.7M | $526K | — | View 990 |
| 2012 | $19.6M | $9.2M | $13.2M | $128K | — | View 990 |
| 2011 | $20K | $7.9M | $2.6M | $2K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $35.0M, expenses of $18.7M, and assets of $25.8M (revenue +5634.9% year-over-year).
- 2022: Revenue of $611K, expenses of $26.5M, and assets of $12.8M (revenue -98.5% year-over-year).
- 2021: Revenue of $40.5M, expenses of $24.6M, and assets of $36.7M (revenue +719.8% year-over-year).
- 2020: Revenue of $4.9M, expenses of $23.0M, and assets of $19.1M.
- 2019: Revenue of $-3,020,266, expenses of $17.1M, and assets of $34.0M (revenue -113.2% year-over-year).
- 2015: Revenue of $23.0M, expenses of $12.3M, and assets of $51.6M (revenue +5555.3% year-over-year).
- 2014: Revenue of $406K, expenses of $9.4M, and assets of $40.3M (revenue -99.1% year-over-year).
- 2013: Revenue of $45.8M, expenses of $9.6M, and assets of $49.7M (revenue +134.0% year-over-year).
- 2012: Revenue of $19.6M, expenses of $9.2M, and assets of $13.2M (revenue +98368.8% year-over-year).
- 2011: Revenue of $20K, expenses of $7.9M, and assets of $2.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Pisces Foundation:
Data Sources and Methodology
This transparency report for Pisces 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.