Richard E Frain Jr Charitable Foundation Inc
Richard E Frain Jr Charitable Foundation Inc shows fluctuating revenue, significant assets, and no officer compensation.
EIN: 134253978 · Wilmington, DE · NTEE: T20 · Updated: 2026-03-28
Is Richard E Frain Jr Charitable Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Richard E Frain Jr Charitable Foundation Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Richard E Frain Jr Charitable Foundation Inc
Richard E Frain Jr Charitable Foundation Inc (EIN: 134253978) is a nonprofit organization based in Wilmington, DE, classified under NTEE code T20. The organization reported total revenue of $778K and total assets of $1.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Richard E Frain Jr Charitable Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Richard E Frain Jr Charitable Foundation Inc is a small nonprofit that has been operating for 21 years, with 10 years of IRS 990 filings on record (2011–2023).
Financial Trends
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | -108.0% | +49.7% | -13.2% |
| 2021 | +3655.2% | +84.3% | +354.4% |
| 2019 | -166.7% | -43.3% | -31.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2005 |
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 Richard E Frain Jr Charitable Foundation Inc 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, Richard E Frain Jr Charitable Foundation Inc 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:
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that the organization's leadership is either entirely volunteer-based or compensated through other means not categorized as officer compensation, which is a 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 Richard E Frain Jr Charitable Foundation Inc's IRS 990 filings:
- Consistent negative revenue in recent years, requiring further investigation into funding model.
- Lack of detailed expense breakdown in provided data makes it difficult to fully assess program efficiency.
Strengths
The following positive indicators were identified for Richard E Frain Jr Charitable Foundation Inc:
- Zero officer compensation across all reported periods, indicating efficient use of funds.
- Consistently low liabilities ($1), demonstrating strong financial stability.
- Substantial asset base (e.g., $726,378 in 2023) provides long-term financial security.
- NTEE code T20 suggests a clear focus on grantmaking and philanthropic activities.
Frequently Asked Questions about Richard E Frain Jr Charitable Foundation Inc
Is Richard E Frain Jr Charitable Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Richard E Frain Jr Charitable Foundation Inc (EIN: 134253978) some concerns. Mission Score: 75/100. 2 red flags identified, 4 strengths noted.
How does Richard E Frain Jr Charitable Foundation Inc spend its money?
Richard E Frain Jr Charitable Foundation Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Richard E Frain Jr Charitable Foundation Inc tax-deductible?
Richard E Frain Jr Charitable Foundation Inc is registered as a tax-exempt nonprofit (EIN: 134253978). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Why does the foundation report negative revenue in recent years?
The negative revenue figures (e.g., $-176,354 in 2023 and $-77,548 in 2022) likely indicate that the foundation experienced investment losses or distributed more in grants than it received in contributions and investment income during those periods. As a charitable foundation, its primary purpose is often to distribute funds from its endowment.
How does the foundation sustain itself with negative revenue?
The foundation sustains itself through its substantial asset base, which was $726,378 in 2023 and $1,014,595 in 2022. It appears to operate as a grant-making foundation, drawing from its endowment to fund its activities and distributions, rather than relying on continuous public donations.
What is the primary focus of the foundation's spending?
While specific program details are not provided, the NTEE code T20 (Foundations, Philanthropy, and Grantmaking) suggests its primary focus is on grantmaking and philanthropic activities. Given the absence of officer compensation and low liabilities, a significant portion of its expenses would likely be program-related distributions.
Filing History
IRS 990 filing history for Richard E Frain Jr Charitable Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Richard E Frain Jr Charitable Foundation Inc's revenue has declined by 1621.9%, moving from $12K to $-176,354. Total assets increased by 257.4% over the same period, from $203K to $726K. Total functional expenses rose by 105.7%, from $54K to $112K. The organization holds $1 in liabilities against $726K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $726K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $-176,354 | $112K | $726K | $1 | — | — |
| 2022 | $-77,548 | $77K | $1.0M | $1 | — | View 990 |
| 2021 | $963K | $51K | $1.2M | $1 | — | View 990 |
| 2020 | $26K | $28K | $257K | $1 | — | — |
| 2019 | $-7,548 | $37K | $260K | $1 | — | View 990 |
| 2015 | $11K | $65K | $380K | $1 | — | View 990 |
| 2014 | $42K | $46K | $434K | $1 | — | View 990 |
| 2013 | $31K | $79K | $437K | $1 | — | View 990 |
| 2012 | $306K | $24K | $486K | $1 | — | View 990 |
| 2011 | $12K | $54K | $203K | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $-176,354, expenses of $112K, and assets of $726K.
- 2022: Revenue of $-77,548, expenses of $77K, and assets of $1.0M (revenue -108.0% year-over-year).
- 2021: Revenue of $963K, expenses of $51K, and assets of $1.2M (revenue +3655.2% year-over-year).
- 2020: Revenue of $26K, expenses of $28K, and assets of $257K.
- 2019: Revenue of $-7,548, expenses of $37K, and assets of $260K (revenue -166.7% year-over-year).
- 2015: Revenue of $11K, expenses of $65K, and assets of $380K (revenue -73.0% year-over-year).
- 2014: Revenue of $42K, expenses of $46K, and assets of $434K (revenue +36.2% year-over-year).
- 2013: Revenue of $31K, expenses of $79K, and assets of $437K (revenue -90.0% year-over-year).
- 2012: Revenue of $306K, expenses of $24K, and assets of $486K (revenue +2541.3% year-over-year).
- 2011: Revenue of $12K, expenses of $54K, and assets of $203K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Richard E Frain Jr Charitable Foundation Inc:
Data Sources and Methodology
This transparency report for Richard E Frain Jr Charitable Foundation Inc 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.