Richards Family Foundation
Richards Family Foundation operates as a small, volunteer-led private foundation with fluctuating, modest revenues and no officer compensation.
EIN: 20762705 · Wdm, IA · NTEE: T20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $4K |
| Total Expenses | $389 |
| Program Spending | 90% |
| Net Assets | $26K |
| Transparency Score | 85/100 |
Is Richards Family Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Richards Family Foundation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Richards Family Foundation
Richards Family Foundation (EIN: 20762705) is a nonprofit organization based in Wdm, IA, classified under NTEE code T20. The organization reported total revenue of $4K and total assets of $29K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Richards Family Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Richards Family Foundation is a micro nonprofit that has been operating for 20 years, with 9 years of IRS 990 filings on record (2011–2022). Revenue has grown at a compound annual rate of -29.5%.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
| Total Revenue | $734 |
| Total Expenses | $389 |
| Surplus / Deficit | +$345 |
| Total Assets | $26K |
| Total Liabilities | $1 |
| Net Assets | $26K |
| Operating Margin | 47.0% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 802.4 months |
Financial Health Grade: A
In 2022, Richards Family Foundation reported a surplus of $345 with revenue exceeding expenses, holds 802.4 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 9 years of filings (2011–2022), Richards Family Foundation's revenue has declined at a compound annual growth rate (CAGR) of -29.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | -87.2% | -92.8% | -12.8% |
| 2021 | +0.7% | +0.2% | +9.0% |
| 2020 | +628.7% | +2054.2% | +0.7% |
| 2019 | -98.9% | -99.6% | +21.5% |
| 2015 | +54.0% | +52.0% | -0.8% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2006 |
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 Richards Family Foundation with a Mission Score of 85 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, Richards 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 (2022)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $345, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that the organization is run by volunteers and does not allocate any funds to officer salaries, which is highly efficient for an organization of its size.
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 Richards Family Foundation's IRS 990 filings:
- Very low and fluctuating revenue, limiting potential impact
- Lack of detailed program expense breakdown in summary data
Strengths
The following positive indicators were identified for Richards Family Foundation:
- Consistent 0% officer compensation, indicating volunteer leadership and high efficiency
- Very low liabilities ($1 or $0 across all filings), showing strong financial stability
- Consistent filing of IRS 990s, demonstrating transparency
- Positive asset growth over the long term, from $17,012 in 2011 to $28,795 currently
Frequently Asked Questions about Richards Family Foundation
Is Richards Family Foundation a legitimate charity?
Richards Family Foundation (EIN: 20762705) is a registered tax-exempt nonprofit based in Iowa. Our AI analysis gives it a Mission Score of 85/100. It has 9 years of IRS 990 filings on record. Total revenue: $4K. 2 red flags identified. 4 strengths noted. Financial health grade: A.
How does Richards Family Foundation spend its money?
Richards Family Foundation directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Richards Family Foundation tax-deductible?
Richards Family Foundation is registered as a tax-exempt nonprofit (EIN: 20762705). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Richards Family Foundation compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Richards Family Foundation is above average for NTEE category T20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Richards Family Foundation located?
Richards Family Foundation is headquartered in Wdm, Iowa and files with the IRS under EIN 20762705. It is classified under NTEE code T20.
How many years of IRS 990 filings does Richards Family Foundation have?
Richards Family Foundation has 9 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 $4K in total revenue.
What is the primary purpose of the Richards Family Foundation?
As a Private Grantmaking Foundation (NTEE T20), its primary purpose is typically to make grants to other charitable organizations or individuals, though specific grant recipients are not detailed in the provided summary data.
How has the foundation's financial stability changed over time?
The foundation's assets have grown from $17,012 in 2011 to $28,795 currently, indicating long-term stability and growth. Liabilities have consistently been minimal ($0 or $1), further demonstrating financial health.
Is the Richards Family Foundation efficient with its spending?
Yes, the foundation appears highly efficient, primarily due to its consistent reporting of 0% officer compensation, meaning all leadership is volunteer-based. This allows a greater proportion of its modest funds to be directed towards its charitable purpose.
Filing History
IRS 990 filing history for Richards Family Foundation showing financial trends over 9 years of public records:
Over 9 years of IRS 990 filings (2011–2022), Richards Family Foundation's revenue has declined by 97.9%, moving from $34K to $734. Total assets increased by 52.9% over the same period, from $17K to $26K. Total functional expenses fell by 99.3%, from $53K to $389. In its most recent filing year (2022), Richards Family Foundation reported a surplus of $345, with revenue exceeding expenses. The organization holds $1 in liabilities against $26K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $26K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2022 | $734 | $389 | $26K | $1 | — | — |
| 2021 | $6K | $5K | $30K | $1 | — | — |
| 2020 | $6K | $5K | $27K | $1 | — | — |
| 2019 | $783 | $249 | $27K | $1 | — | View 990 |
| 2015 | $70K | $70K | $22K | $1 | — | View 990 |
| 2014 | $46K | $46K | $23K | $1 | — | View 990 |
| 2013 | $31K | $27K | $22K | $1 | — | View 990 |
| 2012 | $31K | $30K | $19K | $1 | — | View 990 |
| 2011 | $34K | $53K | $17K | $0 | — | — |
Year-by-Year Financial Summary
- 2022: Revenue of $734, expenses of $389, and assets of $26K (revenue -87.2% year-over-year).
- 2021: Revenue of $6K, expenses of $5K, and assets of $30K (revenue +0.7% year-over-year).
- 2020: Revenue of $6K, expenses of $5K, and assets of $27K (revenue +628.7% year-over-year).
- 2019: Revenue of $783, expenses of $249, and assets of $27K (revenue -98.9% year-over-year).
- 2015: Revenue of $70K, expenses of $70K, and assets of $22K (revenue +54.0% year-over-year).
- 2014: Revenue of $46K, expenses of $46K, and assets of $23K (revenue +49.4% year-over-year).
- 2013: Revenue of $31K, expenses of $27K, and assets of $22K (revenue +0.2% year-over-year).
- 2012: Revenue of $31K, expenses of $30K, and assets of $19K (revenue -10.9% year-over-year).
- 2011: Revenue of $34K, expenses of $53K, and assets of $17K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Richards Family Foundation:
Data Sources and Methodology
This transparency report for Richards 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.