Richard Foundation
Richard Foundation maintains strong asset base despite consistent deficit spending in recent years.
EIN: 136083721 · Orlando, FL · Updated: 2026-03-28
Is Richard Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Richard Foundation directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Richard Foundation
Richard Foundation (EIN: 136083721) is a nonprofit organization based in Orlando, FL. The organization reported total revenue of $2.9M and total assets of $5.1M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Richard Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Richard Foundation is a mid-size nonprofit that has been operating for 77 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -13.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $142K |
| Total Expenses | $317K |
| Surplus / Deficit | $-174,603 |
| Total Assets | $4.7M |
| Total Liabilities | $1 |
| Net Assets | $4.7M |
| Operating Margin | -122.7% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 178.6 months |
Financial Health Grade: B
In 2023, Richard Foundation reported a deficit of $175K with expenses exceeding revenue, holds 178.6 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), Richard Foundation's revenue has declined at a compound annual growth rate (CAGR) of -13.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -55.6% | -2.2% | -3.6% |
| 2022 | -40.9% | -8.2% | -0.1% |
| 2021 | +147.8% | +57.9% | +4.0% |
| 2020 | +2.2% | -46.5% | -0.1% |
| 2019 | -29.0% | +7.5% | +2.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1949 |
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 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: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Richard Foundation allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $175K, with expenses exceeding revenue.
- 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 classified as officer compensation, which is highly unusual for an organization with assets over $4 million.
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 Foundation's IRS 990 filings:
- Consistent deficit spending in recent years (e.g., 2023 expenses $316,926 vs. revenue $142,323), indicating reliance on reserves.
- Unknown NTEE code, making it difficult to assess programmatic focus and impact.
- Lack of detailed expense breakdown (program, admin, fundraising) in provided data, hindering efficiency analysis.
- Consistent 0% officer compensation for an organization with over $4 million in assets, which is unusual and could mask compensation structures or indicate a fully volunteer-run board without paid staff.
Strengths
The following positive indicators were identified for Richard Foundation:
- Strong and growing asset base, increasing from $4.47 million in 2011 to $4.71 million in 2023, indicating financial stability.
- Minimal liabilities consistently reported (often $1), demonstrating a very healthy balance sheet.
- Consistent IRS 990 filing history over a decade, indicating good compliance and transparency in reporting.
- No reported officer compensation, which could suggest a highly efficient, volunteer-driven leadership structure.
Frequently Asked Questions about Richard Foundation
Is Richard Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Richard Foundation (EIN: 136083721) some concerns. Mission Score: 75/100. 4 red flags identified, 4 strengths noted.
How does Richard Foundation spend its money?
Richard Foundation directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Richard Foundation tax-deductible?
Richard Foundation is registered as a tax-exempt nonprofit (EIN: 136083721). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does the Richard Foundation cover its expenses when revenue is consistently lower than expenses, as seen in 2023 ($142,323 revenue vs. $316,926 expenses)?
The foundation likely covers these deficits by drawing from its substantial asset base, which has grown over time, or from investment income not fully captured in the 'Revenue' figures provided, or from prior year surpluses.
What is the nature of the Richard Foundation's programs, given its NTEE code is unknown and detailed expense breakdowns are not provided?
Without the NTEE code or detailed expense breakdowns, it's impossible to determine the specific programmatic activities or their effectiveness. Further investigation into their public mission statement and activities would be necessary.
Why does the Richard Foundation consistently report officer compensation at 0%?
A consistent 0% officer compensation suggests that the organization's leadership may be entirely volunteer-based, or that compensation is structured in a way that it is not reported under 'Officer Compensation' on the 990, which could warrant further scrutiny for transparency.
What is the source of the Richard Foundation's revenue, which fluctuates significantly year-to-year (e.g., $801,019 in 2011 vs. $142,323 in 2023)?
The significant fluctuations in revenue suggest reliance on grants, large individual donations, or investment returns that vary annually. Understanding the primary revenue streams would provide insight into the organization's sustainability.
Filing History
IRS 990 filing history for Richard Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Richard Foundation's revenue has declined by 82.2%, moving from $801K to $142K. Total assets increased by 5.4% over the same period, from $4.5M to $4.7M. Total functional expenses rose by 24.1%, from $255K to $317K. In its most recent filing year (2023), Richard Foundation reported a deficit of $175K, with expenses exceeding revenue. The organization holds $1 in liabilities against $4.7M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $4.7M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $142K | $317K | $4.7M | $1 | — | — |
| 2022 | $321K | $324K | $4.9M | $1 | — | View 990 |
| 2021 | $543K | $353K | $4.9M | $1 | — | View 990 |
| 2020 | $219K | $224K | $4.7M | $1 | — | View 990 |
| 2019 | $214K | $418K | $4.7M | $1 | — | — |
| 2015 | $302K | $389K | $4.6M | $1 | — | View 990 |
| 2014 | $550K | $330K | $4.7M | $1 | — | View 990 |
| 2013 | $416K | $354K | $4.5M | $0 | — | View 990 |
| 2012 | $241K | $310K | $4.4M | $0 | — | View 990 |
| 2011 | $801K | $255K | $4.5M | $3K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $142K, expenses of $317K, and assets of $4.7M (revenue -55.6% year-over-year).
- 2022: Revenue of $321K, expenses of $324K, and assets of $4.9M (revenue -40.9% year-over-year).
- 2021: Revenue of $543K, expenses of $353K, and assets of $4.9M (revenue +147.8% year-over-year).
- 2020: Revenue of $219K, expenses of $224K, and assets of $4.7M (revenue +2.2% year-over-year).
- 2019: Revenue of $214K, expenses of $418K, and assets of $4.7M (revenue -29.0% year-over-year).
- 2015: Revenue of $302K, expenses of $389K, and assets of $4.6M (revenue -45.1% year-over-year).
- 2014: Revenue of $550K, expenses of $330K, and assets of $4.7M (revenue +32.1% year-over-year).
- 2013: Revenue of $416K, expenses of $354K, and assets of $4.5M (revenue +73.0% year-over-year).
- 2012: Revenue of $241K, expenses of $310K, and assets of $4.4M (revenue -70.0% year-over-year).
- 2011: Revenue of $801K, expenses of $255K, and assets of $4.5M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Richard Foundation:
Data Sources and Methodology
This transparency report for Richard 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.