Shamai & Richu Hartman Family Foundation
Shamai & Richu Hartman Family Foundation's assets have declined by over 90% in a decade, with expenses consistently exceeding revenue.
EIN: 113189198 · Brooklyn, NY · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $3.6M |
| Total Expenses | $3.4M |
| Program Spending | 80% |
| Net Assets | $3.2M |
| Transparency Score | 45/100 |
Is Shamai & Richu Hartman Family Foundation Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Shamai & Richu Hartman Family Foundation directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Shamai & Richu Hartman Family Foundation
Shamai & Richu Hartman Family Foundation (EIN: 113189198) is a nonprofit organization based in Brooklyn, NY. The organization reported total revenue of $3.6M and total assets of $973K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Shamai & Richu Hartman Family Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Shamai & Richu Hartman Family Foundation is a mid-size nonprofit that has been operating for 32 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 7.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.7M |
| Total Expenses | $3.4M |
| Surplus / Deficit | $-1,682,636 |
| Total Assets | $3.2M |
| Total Liabilities | $1 |
| Net Assets | $3.2M |
| Operating Margin | -98.5% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 11.3 months |
Financial Health Grade: B
In 2023, Shamai & Richu Hartman Family Foundation reported a deficit of $1.7M with expenses exceeding revenue, holds 11.3 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), Shamai & Richu Hartman Family Foundation's revenue has grown at a compound annual growth rate (CAGR) of 7.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +1708.1% | +132.5% | -35.0% |
| 2022 | +154.5% | -61.0% | -21.7% |
| 2021 | -90.3% | +554.1% | -37.1% |
| 2020 | +23.1% | +2.5% | -1.8% |
| 2019 | +61.9% | -15.7% | +0.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1994 |
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 Shamai & Richu Hartman Family Foundation with a Mission Score of 45 out of 100 (Fair). 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, Shamai & Richu Hartman 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:
- The organization reported a deficit of $1.7M, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no salaries or other compensation are paid to its officers, which is a positive sign for minimizing overhead in this area.
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 Shamai & Richu Hartman Family Foundation's IRS 990 filings:
- Significant and consistent decline in assets over the past decade (from $11.8M to $0.97M).
- Expenses frequently and substantially exceed revenue, indicating unsustainable spending patterns (e.g., 2023 expenses $3.39M vs. revenue $1.7M).
- Highly volatile annual revenue, making financial planning and stability challenging.
- Reliance on drawing down existing assets rather than generating sufficient operational income.
Strengths
The following positive indicators were identified for Shamai & Richu Hartman Family Foundation:
- No reported officer compensation, indicating low executive overhead.
- Consistently low reported liabilities, suggesting prudent debt management.
- Demonstrated ability to generate substantial revenue in some periods (e.g., $3.6M latest, $1.7M in 2023).
Frequently Asked Questions about Shamai & Richu Hartman Family Foundation
Is Shamai & Richu Hartman Family Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Shamai & Richu Hartman Family Foundation (EIN: 113189198) significant concerns. Mission Score: 45/100. 4 red flags identified, 3 strengths noted.
How does Shamai & Richu Hartman Family Foundation spend its money?
Shamai & Richu Hartman Family Foundation directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Shamai & Richu Hartman Family Foundation tax-deductible?
Shamai & Richu Hartman Family Foundation is registered as a tax-exempt nonprofit (EIN: 113189198). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Shamai & Richu Hartman Family Foundation's spending goes to programs?
Shamai & Richu Hartman Family Foundation directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Shamai & Richu Hartman Family Foundation located?
Shamai & Richu Hartman Family Foundation is headquartered in Brooklyn, New York and files with the IRS under EIN 113189198.
How many years of IRS 990 filings does Shamai & Richu Hartman Family Foundation have?
Shamai & Richu Hartman 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 $3.6M in total revenue.
Is Shamai & Richu Hartman Family Foundation a good charity?
The foundation's financial health is concerning due to a significant decline in assets from $11.8 million in 2011 to $0.97 million currently, and a pattern of expenses exceeding revenue in recent years. While it reports no officer compensation, the long-term sustainability is questionable.
Why are the assets declining so rapidly?
The assets are declining because the foundation's expenses have consistently been higher than its revenue in most recent periods. For example, in 2023, expenses were $3,390,936 while revenue was $1,708,300, leading to a draw on assets.
What is the organization's primary source of revenue?
The provided data shows highly variable revenue, ranging from $37,124 in 2021 to $1,708,300 in 2023 and $3,632,045 in the latest period. Without further detail on the nature of this revenue (e.g., donations, investment income), it's difficult to pinpoint a primary, consistent source.
How does the foundation manage its liabilities?
The foundation has consistently reported low liabilities, typically around $39,900 for many years, though the latest filing does not specify. This indicates that it is not accumulating significant debt.
Filing History
IRS 990 filing history for Shamai & Richu Hartman Family Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Shamai & Richu Hartman Family Foundation's revenue has grown by 136.7%, moving from $722K to $1.7M. Total assets decreased by 73% over the same period, from $11.8M to $3.2M. Total functional expenses rose by 336.2%, from $777K to $3.4M. In its most recent filing year (2023), Shamai & Richu Hartman Family Foundation reported a deficit of $1.7M, with expenses exceeding revenue. The organization holds $1 in liabilities against $3.2M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $3.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.7M | $3.4M | $3.2M | $1 | — | — |
| 2022 | $94K | $1.5M | $4.9M | $40K | — | — |
| 2021 | $37K | $3.7M | $6.3M | $40K | — | View 990 |
| 2020 | $385K | $572K | $10.0M | $40K | — | View 990 |
| 2019 | $312K | $558K | $10.2M | $40K | — | — |
| 2015 | $193K | $662K | $10.1M | $40K | — | View 990 |
| 2014 | $100K | $404K | $10.6M | $40K | — | View 990 |
| 2013 | $327K | $791K | $10.9M | $40K | — | View 990 |
| 2012 | $297K | $796K | $11.3M | $40K | — | View 990 |
| 2011 | $722K | $777K | $11.8M | $40K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.7M, expenses of $3.4M, and assets of $3.2M (revenue +1708.1% year-over-year).
- 2022: Revenue of $94K, expenses of $1.5M, and assets of $4.9M (revenue +154.5% year-over-year).
- 2021: Revenue of $37K, expenses of $3.7M, and assets of $6.3M (revenue -90.3% year-over-year).
- 2020: Revenue of $385K, expenses of $572K, and assets of $10.0M (revenue +23.1% year-over-year).
- 2019: Revenue of $312K, expenses of $558K, and assets of $10.2M (revenue +61.9% year-over-year).
- 2015: Revenue of $193K, expenses of $662K, and assets of $10.1M (revenue +92.2% year-over-year).
- 2014: Revenue of $100K, expenses of $404K, and assets of $10.6M (revenue -69.3% year-over-year).
- 2013: Revenue of $327K, expenses of $791K, and assets of $10.9M (revenue +10.0% year-over-year).
- 2012: Revenue of $297K, expenses of $796K, and assets of $11.3M (revenue -58.9% year-over-year).
- 2011: Revenue of $722K, expenses of $777K, and assets of $11.8M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Shamai & Richu Hartman Family Foundation:
Data Sources and Methodology
This transparency report for Shamai & Richu Hartman 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.