Rich Family Foundation
Rich Family Foundation shows consistent asset growth and no reported officer compensation over the past decade.
EIN: 166026199 · Buffalo, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $4.6M |
| Total Expenses | $2.4M |
| Program Spending | 90% |
| Net Assets | $10.5M |
| Transparency Score | 90/100 |
Is Rich Family Foundation Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Rich Family Foundation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Rich Family Foundation
Rich Family Foundation (EIN: 166026199) is a nonprofit organization based in Buffalo, NY. The organization reported total revenue of $4.6M and total assets of $12.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Rich Family Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Rich Family Foundation is a mid-size nonprofit that has been operating for 64 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 5.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $4.2M |
| Total Expenses | $2.4M |
| Surplus / Deficit | +$1.8M |
| Total Assets | $10.5M |
| Total Liabilities | $1 |
| Net Assets | $10.5M |
| Operating Margin | 42.1% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 52.2 months |
Financial Health Grade: A
In 2023, Rich Family Foundation reported a surplus of $1.8M with revenue exceeding expenses, holds 52.2 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), Rich Family Foundation's revenue has grown at a compound annual growth rate (CAGR) of 5.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -0.7% | +10.4% | +20.1% |
| 2022 | -0.9% | -19.2% | +29.9% |
| 2021 | +42.3% | +4.8% | +29.5% |
| 2020 | -18.4% | -21.0% | +8.2% |
| 2019 | +320.7% | +154.5% | -44.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1962 |
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 Rich Family Foundation with a Mission Score of 90 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, Rich 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.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $1.8M, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The Rich Family Foundation consistently reports 0% officer compensation across all available filings, indicating that its leadership is either unpaid or compensated through other means not classified as officer compensation, which is a strong 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.
Strengths
The following positive indicators were identified for Rich Family Foundation:
- Consistent asset growth, increasing from $4,814,686 in 2019 to $10,526,631 in 2023.
- No reported officer compensation across all available filings, indicating efficient use of funds.
- Revenue consistently exceeds expenses, leading to healthy surpluses and asset accumulation (e.g., 2023 revenue $4,181,953 vs. expenses $2,420,813).
- Minimal liabilities reported ($1 in recent years), suggesting strong financial stability and low risk.
Frequently Asked Questions about Rich Family Foundation
Is Rich Family Foundation a legitimate charity?
Rich Family Foundation (EIN: 166026199) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 90/100. It has 10 years of IRS 990 filings on record. Total revenue: $4.6M. No red flags identified. 4 strengths noted. Financial health grade: A.
How does Rich Family Foundation spend its money?
Rich Family Foundation directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Rich Family Foundation tax-deductible?
Rich Family Foundation is registered as a tax-exempt nonprofit (EIN: 166026199). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Rich Family Foundation located?
Rich Family Foundation is headquartered in Buffalo, New York and files with the IRS under EIN 166026199.
How many years of IRS 990 filings does Rich Family Foundation have?
Rich 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 $4.6M in total revenue.
Is Rich Family Foundation a good charity?
Based on the available financial data, the Rich Family Foundation appears to be a well-managed and financially healthy organization. It consistently generates more revenue than it spends, has growing assets, and reports no officer compensation, suggesting a strong focus on its mission.
How has the Rich Family Foundation's financial health changed over time?
The foundation has shown significant financial growth, with assets more than doubling from $4,773,929 in 2011 to $10,526,631 in 2023. Revenue has also generally increased, indicating a stable and expanding financial base.
What is the Rich Family Foundation's approach to executive compensation?
The Rich Family Foundation consistently reports 0% officer compensation, indicating that its leadership is either unpaid or that compensation is structured in a way that does not fall under this category, which is a positive for resource allocation to its mission.
Filing History
IRS 990 filing history for Rich Family Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Rich Family Foundation's revenue has grown by 86.8%, moving from $2.2M to $4.2M. Total assets increased by 120.5% over the same period, from $4.8M to $10.5M. Total functional expenses rose by 34%, from $1.8M to $2.4M. In its most recent filing year (2023), Rich Family Foundation reported a surplus of $1.8M, with revenue exceeding expenses. The organization holds $1 in liabilities against $10.5M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $10.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $4.2M | $2.4M | $10.5M | $1 | — | — |
| 2022 | $4.2M | $2.2M | $8.8M | $1 | — | View 990 |
| 2021 | $4.3M | $2.7M | $6.7M | $1 | — | — |
| 2020 | $3.0M | $2.6M | $5.2M | $1 | — | — |
| 2019 | $3.7M | $3.3M | $4.8M | $0 | — | View 990 |
| 2015 | $870K | $1.3M | $8.6M | $0 | — | View 990 |
| 2014 | $2.8M | $1.2M | $9.0M | $0 | — | View 990 |
| 2013 | $2.8M | $1.2M | $7.4M | $0 | — | View 990 |
| 2012 | $2.4M | $1.3M | $5.9M | $0 | — | View 990 |
| 2011 | $2.2M | $1.8M | $4.8M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $4.2M, expenses of $2.4M, and assets of $10.5M (revenue -0.7% year-over-year).
- 2022: Revenue of $4.2M, expenses of $2.2M, and assets of $8.8M (revenue -0.9% year-over-year).
- 2021: Revenue of $4.3M, expenses of $2.7M, and assets of $6.7M (revenue +42.3% year-over-year).
- 2020: Revenue of $3.0M, expenses of $2.6M, and assets of $5.2M (revenue -18.4% year-over-year).
- 2019: Revenue of $3.7M, expenses of $3.3M, and assets of $4.8M (revenue +320.7% year-over-year).
- 2015: Revenue of $870K, expenses of $1.3M, and assets of $8.6M (revenue -69.1% year-over-year).
- 2014: Revenue of $2.8M, expenses of $1.2M, and assets of $9.0M (revenue +2.2% year-over-year).
- 2013: Revenue of $2.8M, expenses of $1.2M, and assets of $7.4M (revenue +13.1% year-over-year).
- 2012: Revenue of $2.4M, expenses of $1.3M, and assets of $5.9M (revenue +8.8% year-over-year).
- 2011: Revenue of $2.2M, expenses of $1.8M, and assets of $4.8M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Rich Family Foundation:
Data Sources and Methodology
This transparency report for Rich 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.