Taxman Family Foundation
Taxman Family Foundation shows consistent asset growth and zero officer compensation.
EIN: 204568076 · Skokie, IL · NTEE: T22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $5.8M |
| Total Expenses | $588K |
| Program Spending | 95% |
| CEO/Top Officer Pay | $11 |
| Net Assets | $11.4M |
| Transparency Score | 90/100 |
Is Taxman Family Foundation Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Taxman Family Foundation directs 95% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Taxman Family Foundation
Taxman Family Foundation (EIN: 204568076) is a nonprofit organization based in Skokie, IL, classified under NTEE code T22. The organization reported total revenue of $5.8M and total assets of $12.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Taxman Family Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Taxman Family Foundation is a mid-size nonprofit that has been operating for 20 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 70.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.5M |
| Total Expenses | $588K |
| Surplus / Deficit | +$892K |
| Total Assets | $11.4M |
| Total Liabilities | $1 |
| Net Assets | $11.4M |
| Operating Margin | 60.3% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 232.4 months |
Financial Health Grade: A
In 2023, Taxman Family Foundation reported a surplus of $892K with revenue exceeding expenses, holds 232.4 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), Taxman Family Foundation's revenue has grown at a compound annual growth rate (CAGR) of 70.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -22.4% | -21.8% | +8.5% |
| 2022 | -26.4% | +15.4% | +5.1% |
| 2021 | +87.8% | -29.5% | +18.9% |
| 2020 | +246.7% | +59.6% | -4.4% |
| 2019 | -74.6% | +180.5% | +94.1% |
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 Taxman Family Foundation with a Mission Score of 90 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: 5%
- programs: 95%
- fundraising: 0%
According to IRS 990 filings, Taxman Family Foundation allocates its expenses as follows: admin: 5%, programs: 95%, fundraising: 0%. With 95% 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 surplus of $892K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that the organization's leadership is entirely volunteer-based, which is highly commendable for an organization with assets exceeding $11 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.
Strengths
The following positive indicators were identified for Taxman Family Foundation:
- Consistent asset growth, reaching $11,391,218 in 2023.
- Extremely low liabilities ($1 reported in recent years), indicating strong financial health.
- 0% officer compensation reported across all filings, demonstrating volunteer leadership.
- Consistent IRS 990 filing history (10 filings), indicating good transparency.
- Expenses are a relatively small portion of revenue, suggesting efficient operations or significant reinvestment.
Frequently Asked Questions about Taxman Family Foundation
Is Taxman Family Foundation a legitimate charity?
Taxman Family Foundation (EIN: 204568076) is a registered tax-exempt nonprofit based in Illinois. Our AI analysis gives it a Mission Score of 90/100. It has 10 years of IRS 990 filings on record. Total revenue: $5.8M. No red flags identified. 5 strengths noted. Financial health grade: A.
How does Taxman Family Foundation spend its money?
Taxman Family Foundation directs 95% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to Taxman Family Foundation tax-deductible?
Taxman Family Foundation is registered as a tax-exempt nonprofit (EIN: 204568076). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Taxman Family Foundation CEO make?
Taxman Family Foundation's highest-compensated officer earns $11 annually. The organization reported $5.8M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
How does Taxman Family Foundation compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), Taxman Family Foundation is above average for NTEE category T22 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Taxman Family Foundation located?
Taxman Family Foundation is headquartered in Skokie, Illinois and files with the IRS under EIN 204568076. It is classified under NTEE code T22.
How many years of IRS 990 filings does Taxman Family Foundation have?
Taxman 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 $5.8M in total revenue.
Is the Taxman Family Foundation financially stable?
Yes, the foundation is highly stable, with assets growing to $11,391,218 in 2023 and consistently reporting only $1 in liabilities, indicating a very strong balance sheet.
How much of the foundation's revenue goes to expenses?
In 2023, expenses were $588,140 against a revenue of $1,479,799, meaning approximately 39.7% of revenue was spent, with the remainder contributing to asset growth.
Does the Taxman Family Foundation pay its officers?
No, the Taxman Family Foundation consistently reports 0% officer compensation across all available filings, indicating volunteer leadership.
Has the foundation's asset base grown over time?
Yes, the foundation's assets have shown significant growth, increasing from $1,881,720 in 2011 to $11,391,218 in 2023.
Filing History
IRS 990 filing history for Taxman Family Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Taxman Family Foundation's revenue has grown by 59425.3%, moving from $2K to $1.5M. Total assets increased by 505.4% over the same period, from $1.9M to $11.4M. Total functional expenses rose by 222.4%, from $182K to $588K. In its most recent filing year (2023), Taxman Family Foundation reported a surplus of $892K, with revenue exceeding expenses. The organization holds $1 in liabilities against $11.4M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $11.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.5M | $588K | $11.4M | $1 | — | View 990 |
| 2022 | $1.9M | $752K | $10.5M | $1 | — | View 990 |
| 2021 | $2.6M | $652K | $10.0M | $1 | — | View 990 |
| 2020 | $1.4M | $924K | $8.4M | $1 | — | — |
| 2019 | $398K | $579K | $8.8M | $1 | — | View 990 |
| 2015 | $1.6M | $207K | $4.5M | $0 | — | View 990 |
| 2014 | $521K | $218K | $3.2M | $0 | — | View 990 |
| 2013 | $1.4M | $184K | $2.9M | $0 | — | View 990 |
| 2012 | $2K | $204K | $1.7M | $0 | — | View 990 |
| 2011 | $2K | $182K | $1.9M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.5M, expenses of $588K, and assets of $11.4M (revenue -22.4% year-over-year).
- 2022: Revenue of $1.9M, expenses of $752K, and assets of $10.5M (revenue -26.4% year-over-year).
- 2021: Revenue of $2.6M, expenses of $652K, and assets of $10.0M (revenue +87.8% year-over-year).
- 2020: Revenue of $1.4M, expenses of $924K, and assets of $8.4M (revenue +246.7% year-over-year).
- 2019: Revenue of $398K, expenses of $579K, and assets of $8.8M (revenue -74.6% year-over-year).
- 2015: Revenue of $1.6M, expenses of $207K, and assets of $4.5M (revenue +201.0% year-over-year).
- 2014: Revenue of $521K, expenses of $218K, and assets of $3.2M (revenue -62.1% year-over-year).
- 2013: Revenue of $1.4M, expenses of $184K, and assets of $2.9M (revenue +81156.5% year-over-year).
- 2012: Revenue of $2K, expenses of $204K, and assets of $1.7M (revenue -32.1% year-over-year).
- 2011: Revenue of $2K, expenses of $182K, and assets of $1.9M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Taxman Family Foundation:
Data Sources and Methodology
This transparency report for Taxman 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.