Richman Family Foundation
Richman Family Foundation reports significant negative revenues in recent years despite substantial assets and zero officer compensation.
EIN: 133332711 · New York, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.1M |
| Total Expenses | $548K |
| Program Spending | 80% |
| Net Assets | $31.3M |
| Transparency Score | 70/100 |
Is Richman Family Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Richman Family Foundation directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Richman Family Foundation
Richman Family Foundation (EIN: 133332711) is a nonprofit organization based in New York, NY. The organization reported total revenue of $1.1M and total assets of $30.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Richman Family Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Richman Family Foundation is a mid-size nonprofit that has been operating for 40 years, with 10 years of IRS 990 filings on record (2011–2023).
Financial Trends
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | -109.4% | +5.0% | -6.1% |
| 2021 | +741.0% | -9.5% | +22.1% |
| 2020 | -8.7% | +10.6% | +1.8% |
| 2019 | -60.7% | -37.3% | -23.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1986 |
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 Richman Family Foundation with a Mission Score of 70 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Richman Family Foundation allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% 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 reported as 0% across all available filings, indicating that no officer salaries are paid from the foundation's funds, which is highly favorable 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 Richman Family Foundation's IRS 990 filings:
- Significant negative revenue reported in 2023 ($-999,061) and 2022 ($-871,019), which could indicate substantial investment losses or other financial challenges.
- Lack of detailed expense breakdown (program, admin, fundraising) in the provided data makes it difficult to assess spending efficiency.
- Unknown NTEE code limits understanding of the organization's specific charitable purpose and impact.
Strengths
The following positive indicators were identified for Richman Family Foundation:
- Consistently reports 0% officer compensation, indicating efficient use of funds for non-executive purposes.
- Maintains substantial assets (over $30 million in recent years), providing a strong financial base.
- Reports minimal liabilities (often $1), indicating a very low debt burden and strong financial solvency.
Frequently Asked Questions about Richman Family Foundation
Is Richman Family Foundation a legitimate charity?
Richman Family Foundation (EIN: 133332711) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 70/100. It has 10 years of IRS 990 filings on record. Total revenue: $1.1M. 3 red flags identified. 3 strengths noted. Financial health grade: B.
How does Richman Family Foundation spend its money?
Richman Family Foundation directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Richman Family Foundation tax-deductible?
Richman Family Foundation is registered as a tax-exempt nonprofit (EIN: 133332711). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Richman Family Foundation's spending goes to programs?
Richman Family Foundation directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Richman Family Foundation located?
Richman Family Foundation is headquartered in New York, New York and files with the IRS under EIN 133332711.
How many years of IRS 990 filings does Richman Family Foundation have?
Richman 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 $1.1M in total revenue.
Why has the Richman Family Foundation reported negative revenue in 2023 and 2022?
The filings show revenue of -999,061 in 2023 and -871,019 in 2022. This could be due to significant investment losses, large asset write-downs, or other non-operating deductions. Further detail from the full 990 forms would be needed to understand the specific causes.
What are the primary program areas supported by the Richman Family Foundation?
The NTEE code is unknown, and the provided data does not specify the foundation's program areas. A review of the full IRS 990 filings, particularly Schedule I (Grants and Other Assistance), would be necessary to identify its beneficiaries and mission focus.
How does the foundation manage its investments given the volatile revenue figures?
The significant fluctuations in revenue, including negative figures, suggest a potentially volatile investment strategy or market conditions impacting its portfolio. The foundation's investment strategy and performance would need to be examined to understand how it manages its substantial assets.
Filing History
IRS 990 filing history for Richman Family Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Richman Family Foundation's revenue has declined by 130%, moving from $3.3M to $-999,061. Total assets decreased by 5.8% over the same period, from $33.3M to $31.3M. Total functional expenses fell by 75.6%, from $2.2M to $548K. The organization holds $1 in liabilities against $31.3M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $31.3M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $-999,061 | $548K | $31.3M | $1 | — | — |
| 2022 | $-871,019 | $2.0M | $32.3M | $1 | — | View 990 |
| 2021 | $9.3M | $1.9M | $34.4M | $1 | — | View 990 |
| 2020 | $1.1M | $2.1M | $28.2M | $1 | — | — |
| 2019 | $1.2M | $1.9M | $27.7M | $1 | — | — |
| 2015 | $3.1M | $3.0M | $36.0M | $1 | — | View 990 |
| 2014 | $2.9M | $3.1M | $37.0M | $1 | — | View 990 |
| 2013 | $4.2M | $2.5M | $37.5M | $1 | — | View 990 |
| 2012 | $1.7M | $2.4M | $35.2M | $1 | — | View 990 |
| 2011 | $3.3M | $2.2M | $33.3M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $-999,061, expenses of $548K, and assets of $31.3M.
- 2022: Revenue of $-871,019, expenses of $2.0M, and assets of $32.3M (revenue -109.4% year-over-year).
- 2021: Revenue of $9.3M, expenses of $1.9M, and assets of $34.4M (revenue +741.0% year-over-year).
- 2020: Revenue of $1.1M, expenses of $2.1M, and assets of $28.2M (revenue -8.7% year-over-year).
- 2019: Revenue of $1.2M, expenses of $1.9M, and assets of $27.7M (revenue -60.7% year-over-year).
- 2015: Revenue of $3.1M, expenses of $3.0M, and assets of $36.0M (revenue +5.5% year-over-year).
- 2014: Revenue of $2.9M, expenses of $3.1M, and assets of $37.0M (revenue -29.8% year-over-year).
- 2013: Revenue of $4.2M, expenses of $2.5M, and assets of $37.5M (revenue +138.9% year-over-year).
- 2012: Revenue of $1.7M, expenses of $2.4M, and assets of $35.2M (revenue -47.7% year-over-year).
- 2011: Revenue of $3.3M, expenses of $2.2M, and assets of $33.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Richman Family Foundation:
Data Sources and Methodology
This transparency report for Richman 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.