Second Family Foundation Inc
Second Family Foundation Inc. consistently spends more than it earns, relying on substantial asset reserves.
EIN: 205885567 · Chapel Hill, NC · NTEE: O50 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.7M |
| Total Expenses | $355K |
| Program Spending | 80% |
| Net Assets | $12.2M |
| Transparency Score | 75/100 |
Is Second Family Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Second Family Foundation Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Second Family Foundation Inc
Second Family Foundation Inc (EIN: 205885567) is a nonprofit organization based in Chapel Hill, NC, classified under NTEE code O50. The organization reported total revenue of $1.7M and total assets of $12.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Second Family Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Second Family Foundation Inc is a mid-size nonprofit that has been operating for 19 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 0.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $293K |
| Total Expenses | $355K |
| Surplus / Deficit | $-62,429 |
| Total Assets | $12.3M |
| Total Liabilities | $42K |
| Net Assets | $12.2M |
| Operating Margin | -21.3% |
| Debt-to-Asset Ratio | 0.3% |
| Months of Reserves | 414.7 months |
Financial Health Grade: B
In 2023, Second Family Foundation Inc reported a deficit of $62K with expenses exceeding revenue, holds 414.7 months of operating reserves (strong position), has a debt-to-asset ratio of 0.3% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), Second Family Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 0.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +30.8% | +12.9% | +8.5% |
| 2022 | +23.2% | +2.4% | -8.2% |
| 2021 | -18.4% | -19.9% | +23.7% |
| 2020 | -78.5% | -10.6% | -4.8% |
| 2019 | +116.2% | +56.0% | +54.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2007 |
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 Second Family 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Second Family Foundation Inc 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:
- The organization reported a deficit of $62K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.3%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, suggesting either a fully volunteer leadership structure or that compensation is not reported in this specific category. This indicates a very low overhead in terms of executive salaries relative to the organization's substantial asset base.
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 Second Family Foundation Inc's IRS 990 filings:
- Consistent deficit spending in recent years (e.g., 202312 expenses $355,300 vs. revenue $292,871)
- Significant fluctuation in annual revenue, making future income less predictable.
Strengths
The following positive indicators were identified for Second Family Foundation Inc:
- Substantial and growing asset base ($12,881,979 currently)
- Very low liabilities relative to assets (e.g., $41,505 in 202312)
- No reported officer compensation, indicating efficient leadership cost management or volunteer leadership.
- Long history of IRS 990 filings (10 filings), demonstrating transparency.
Frequently Asked Questions about Second Family Foundation Inc
Is Second Family Foundation Inc a legitimate charity?
Second Family Foundation Inc (EIN: 205885567) is a registered tax-exempt nonprofit based in North Carolina. Our AI analysis gives it a Mission Score of 75/100. It has 10 years of IRS 990 filings on record. Total revenue: $1.7M. 2 red flags identified. 4 strengths noted. Financial health grade: B.
How does Second Family Foundation Inc spend its money?
Second Family Foundation Inc directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Second Family Foundation Inc tax-deductible?
Second Family Foundation Inc is registered as a tax-exempt nonprofit (EIN: 205885567). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Second Family Foundation Inc's spending goes to programs?
Second Family Foundation Inc directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Second Family Foundation Inc compare to similar nonprofits?
With a transparency score of 75/100 (Good), Second Family Foundation Inc is above average for NTEE category O50 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Second Family Foundation Inc located?
Second Family Foundation Inc is headquartered in Chapel Hill, North Carolina and files with the IRS under EIN 205885567. It is classified under NTEE code O50.
How many years of IRS 990 filings does Second Family Foundation Inc have?
Second Family Foundation Inc 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 $1.7M in total revenue.
Is Second Family Foundation Inc. financially stable?
Yes, the organization appears financially stable due to its significant asset base of $12,881,979, which far exceeds its liabilities. However, it has consistently spent more than its revenue in recent years, drawing down on these assets.
What is the trend in the organization's revenue and expenses?
Revenue has fluctuated significantly over the years, with a peak of $2,550,708 in 201212 and a more recent trend of lower revenues (e.g., $292,871 in 202312). Expenses have generally been lower than peak revenues but have consistently exceeded recent revenues, leading to deficits in the last few reporting periods.
Does Second Family Foundation Inc. pay its executives?
Based on the provided IRS 990 data, the organization consistently reports 0% officer compensation, suggesting that its leadership is either unpaid or compensated through mechanisms not captured in this specific reporting line.
How has the organization's asset base changed over time?
The organization's assets have shown significant growth, increasing from $3,830,379 in 201112 to $12,881,979 currently, indicating successful asset management or substantial past contributions.
Filing History
IRS 990 filing history for Second Family Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Second Family Foundation Inc's revenue has grown by 1%, moving from $290K to $293K. Total assets increased by 220.5% over the same period, from $3.8M to $12.3M. Total functional expenses rose by 103.4%, from $175K to $355K. In its most recent filing year (2023), Second Family Foundation Inc reported a deficit of $62K, with expenses exceeding revenue. The organization holds $42K in liabilities against $12.3M in assets (debt-to-asset ratio: 0.3%), resulting in net assets of $12.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $293K | $355K | $12.3M | $42K | — | — |
| 2022 | $224K | $315K | $11.3M | $26K | — | View 990 |
| 2021 | $182K | $307K | $12.3M | $18K | — | View 990 |
| 2020 | $223K | $384K | $10.0M | $12K | — | — |
| 2019 | $1.0M | $429K | $10.5M | $7K | — | — |
| 2015 | $478K | $275K | $6.8M | $4K | — | View 990 |
| 2014 | $468K | $289K | $6.6M | $4K | — | View 990 |
| 2013 | $464K | $275K | $6.4M | $4K | — | View 990 |
| 2012 | $2.6M | $213K | $6.2M | $4K | — | View 990 |
| 2011 | $290K | $175K | $3.8M | $4K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $293K, expenses of $355K, and assets of $12.3M (revenue +30.8% year-over-year).
- 2022: Revenue of $224K, expenses of $315K, and assets of $11.3M (revenue +23.2% year-over-year).
- 2021: Revenue of $182K, expenses of $307K, and assets of $12.3M (revenue -18.4% year-over-year).
- 2020: Revenue of $223K, expenses of $384K, and assets of $10.0M (revenue -78.5% year-over-year).
- 2019: Revenue of $1.0M, expenses of $429K, and assets of $10.5M (revenue +116.2% year-over-year).
- 2015: Revenue of $478K, expenses of $275K, and assets of $6.8M (revenue +2.2% year-over-year).
- 2014: Revenue of $468K, expenses of $289K, and assets of $6.6M (revenue +0.9% year-over-year).
- 2013: Revenue of $464K, expenses of $275K, and assets of $6.4M (revenue -81.8% year-over-year).
- 2012: Revenue of $2.6M, expenses of $213K, and assets of $6.2M (revenue +780.0% year-over-year).
- 2011: Revenue of $290K, expenses of $175K, and assets of $3.8M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Second Family Foundation Inc:
Data Sources and Methodology
This transparency report for Second Family 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.