Rice Family Foundation

Rice Family Foundation consistently operates with expenses exceeding revenue, relying on its $60M+ asset base, and reports no officer compensation.

EIN: 133542090 · Jericho, NY · Updated: 2026-03-28

$17.8MRevenue

$61.6MAssets

75/100Mission Score (Good)

Is Rice Family Foundation Legit?

Some Concerns

GoodFiling Consistency

ExcellentSpending Efficiency

GoodTransparency

2 FoundRed Flags

Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →

Rice Family Foundation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.

About Rice Family Foundation

Rice Family Foundation (EIN: 133542090) is a nonprofit organization based in Jericho, NY. The organization reported total revenue of $17.8M and total assets of $61.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Rice Family Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

The Rice Family Foundation demonstrates consistent financial activity as a grant-making organization, with revenues and expenses generally in the range of $3-6 million annually over the past decade. A notable aspect is the absence of reported officer compensation across all available filings, which suggests a volunteer-led or externally managed structure, contributing positively to spending efficiency. However, the organization has frequently operated with expenses exceeding revenue, as seen in 2023 ($5.26M expenses vs. $3.90M revenue) and 2022 ($4.60M expenses vs. $3.10M revenue), indicating reliance on its substantial asset base, which stood at $63.76 million in 2023. The significant increase in liabilities from $0 in 2019 to over $40 million in subsequent years warrants further investigation to understand its nature and impact on long-term financial stability.

Spending efficiency, particularly the program spending ratio, cannot be precisely determined without a detailed breakdown of expenses (program, administrative, fundraising) from the provided summary data. However, the lack of officer compensation is a strong indicator of low administrative overhead in that specific area. The foundation's substantial assets, reaching $63.76 million in 2023, provide a robust financial cushion for its grant-making activities, despite the operational deficits in recent years. The consistent filing of IRS Form 990s over a decade indicates a commitment to regulatory transparency.

Overall, the foundation appears financially stable due to its large asset base, but the recurring operational deficits and the substantial increase in liabilities are areas that would benefit from deeper scrutiny. The absence of officer compensation is a positive sign for efficiency, but a full picture of spending efficiency requires more granular expense data. The consistent filing history supports transparency.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Rice Family Foundation with a Mission Score of 75 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: 90%
fundraising: 0%

According to IRS 990 filings, Rice Family 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

The Rice Family Foundation consistently reports 0% officer compensation across all available filings, indicating that its leadership either serves on a volunteer basis or is compensated through an external entity, which significantly reduces direct administrative overhead.

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 Rice Family Foundation's IRS 990 filings:

Consistent operational deficits (expenses exceeding revenue) in recent years, such as $5.26M expenses vs. $3.90M revenue in 2023.
Dramatic increase in liabilities from $0 in 2019 to over $40 million in 2020, which requires clarification.

Strengths

The following positive indicators were identified for Rice Family Foundation:

Substantial asset base, reaching $63.76 million in 2023, providing significant financial stability.
No reported officer compensation across all filings, indicating very low direct executive overhead.
Consistent IRS 990 filing history over a decade, demonstrating regulatory compliance and transparency.

Frequently Asked Questions about Rice Family Foundation

Is Rice Family Foundation a legitimate charity?

Based on AI analysis of IRS 990 filings, Rice Family Foundation (EIN: 133542090) some concerns. Mission Score: 75/100. 2 red flags identified, 3 strengths noted.

How does Rice Family Foundation spend its money?

Rice Family Foundation directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.

Are donations to Rice Family Foundation tax-deductible?

Rice Family Foundation is registered as a tax-exempt nonprofit (EIN: 133542090). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.

What caused the significant increase in liabilities from $0 in 2019 to over $40 million in 2020 and subsequent years?

The provided data shows a dramatic increase in liabilities from $0 in 2019 to $40,589,095 in 2020, remaining around that level through 2023. This warrants further investigation into the nature of these liabilities (e.g., program-related investments, debt, or other obligations) as it represents a substantial change in the foundation's financial structure.

How does the Rice Family Foundation sustain its operations given that expenses frequently exceed revenue?

The foundation frequently reports expenses exceeding revenue (e.g., $5.26M expenses vs. $3.90M revenue in 2023). It appears to sustain its operations and grant-making activities by drawing from its substantial asset base, which was $63.76 million in 2023.

What is the specific breakdown of program, administrative, and fundraising expenses?

The provided summary data does not offer a detailed breakdown of expenses into program, administrative, and fundraising categories. This information is crucial for a precise assessment of spending efficiency beyond the observation of no officer compensation.

Filing History

IRS 990 filing history for Rice Family Foundation showing financial trends over 10 years of public records:

Over 10 years of IRS 990 filings (2011–2023), Rice Family Foundation's revenue has grown by 21.6%, moving from $3.2M to $3.9M. Total assets increased by 111.7% over the same period, from $30.1M to $63.8M. Total functional expenses rose by 51.3%, from $3.5M to $5.3M. In its most recent filing year (2023), Rice Family Foundation reported a deficit of $1.4M, with expenses exceeding revenue. The organization holds $40.3M in liabilities against $63.8M in assets (debt-to-asset ratio: 63.2%), resulting in net assets of $23.4M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$3.9M	$5.3M	$63.8M	$40.3M	—	—
2022	$3.1M	$4.6M	$65.2M	$40.4M	—	—
2021	$5.6M	$5.6M	$66.8M	$40.5M	—	View 990
2020	$5.4M	$5.5M	$66.9M	$40.6M	—	View 990
2019	$4.4M	$6.4M	$26.4M	$0	—	View 990
2015	$6.6M	$4.8M	$32.4M	$2.6M	—	View 990
2014	$6.6M	$3.7M	$30.7M	$2.7M	—	View 990
2013	$2.7M	$4.7M	$27.9M	$2.7M	—	View 990
2012	$3.2M	$3.3M	$30.0M	$2.8M	—	View 990
2011	$3.2M	$3.5M	$30.1M	$2.8M	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $3.9M, expenses of $5.3M, and assets of $63.8M (revenue +25.7% year-over-year).
2022: Revenue of $3.1M, expenses of $4.6M, and assets of $65.2M (revenue -45.0% year-over-year).
2021: Revenue of $5.6M, expenses of $5.6M, and assets of $66.8M (revenue +4.6% year-over-year).
2020: Revenue of $5.4M, expenses of $5.5M, and assets of $66.9M (revenue +22.1% year-over-year).
2019: Revenue of $4.4M, expenses of $6.4M, and assets of $26.4M (revenue -33.2% year-over-year).
2015: Revenue of $6.6M, expenses of $4.8M, and assets of $32.4M (revenue +0.7% year-over-year).
2014: Revenue of $6.6M, expenses of $3.7M, and assets of $30.7M (revenue +147.2% year-over-year).
2013: Revenue of $2.7M, expenses of $4.7M, and assets of $27.9M (revenue -16.2% year-over-year).
2012: Revenue of $3.2M, expenses of $3.3M, and assets of $30.0M (revenue -1.0% year-over-year).
2011: Revenue of $3.2M, expenses of $3.5M, and assets of $30.1M.

Data Sources and Methodology

This transparency report for Rice 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.