The Bill And Joan Alfond Foundation
The Bill And Joan Alfond Foundation maintains strong assets and zero officer compensation, focusing on grant-making.
EIN: 10421806 · Portland, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $4.5M |
| Total Expenses | $3.3M |
| Program Spending | 95% |
| Net Assets | $30.9M |
| Transparency Score | 90/100 |
Is The Bill And Joan Alfond Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
The Bill And Joan Alfond Foundation directs 95% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About The Bill And Joan Alfond Foundation
The Bill And Joan Alfond Foundation (EIN: 10421806) is a nonprofit organization based in Portland, ME. The organization reported total revenue of $4.5M and total assets of $31.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of The Bill And Joan Alfond Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
The Bill And Joan Alfond Foundation is a mid-size nonprofit that has been operating for 39 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 23.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $5.1M |
| Total Expenses | $3.3M |
| Surplus / Deficit | +$1.8M |
| Total Assets | $30.9M |
| Total Liabilities | $1 |
| Net Assets | $30.9M |
| Operating Margin | 35.5% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 112.9 months |
Financial Health Grade: A
In 2023, The Bill And Joan Alfond Foundation reported a surplus of $1.8M with revenue exceeding expenses, holds 112.9 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), The Bill And Joan Alfond Foundation's revenue has grown at a compound annual growth rate (CAGR) of 23.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +47.0% | +14.4% | -10.2% |
| 2022 | -43.6% | -42.5% | +2.8% |
| 2021 | -51.7% | +11.7% | +4.6% |
| 2020 | +627.5% | +68.8% | +47.4% |
| 2019 | -38.0% | -14.0% | -6.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1987 |
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 The Bill And Joan Alfond 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, The Bill And Joan Alfond 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 $1.8M, 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 foundation does not pay its officers, which is highly efficient and suggests a volunteer or externally funded leadership structure.
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 The Bill And Joan Alfond Foundation's IRS 990 filings:
- Significant year-to-year revenue volatility, which could impact consistent grant-making if not managed by a strong endowment.
Strengths
The following positive indicators were identified for The Bill And Joan Alfond Foundation:
- Zero officer compensation, indicating high efficiency and dedication to mission.
- Strong and growing asset base, reaching $30,941,597 in 2023, ensuring long-term sustainability.
- Expenses consistently well below revenue in most years, allowing for asset growth.
- Low administrative overhead, maximizing funds available for charitable distributions.
Frequently Asked Questions about The Bill And Joan Alfond Foundation
Is The Bill And Joan Alfond Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, The Bill And Joan Alfond Foundation (EIN: 10421806) some concerns. Mission Score: 90/100. 1 red flag identified, 4 strengths noted.
How does The Bill And Joan Alfond Foundation spend its money?
The Bill And Joan Alfond Foundation directs 95% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to The Bill And Joan Alfond Foundation tax-deductible?
The Bill And Joan Alfond Foundation is registered as a tax-exempt nonprofit (EIN: 10421806). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is The Bill And Joan Alfond Foundation located?
The Bill And Joan Alfond Foundation is headquartered in Portland, Maine and files with the IRS under EIN 10421806.
How many years of IRS 990 filings does The Bill And Joan Alfond Foundation have?
The Bill And Joan Alfond 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 $4.5M in total revenue.
Is The Bill And Joan Alfond Foundation a good charity?
Based on the available data, The Bill And Joan Alfond Foundation appears to be a highly efficient grant-making organization. Its consistent 0% officer compensation, strong asset base ($30,941,597 in 2023), and low administrative overhead suggest that nearly all funds are directed towards its charitable mission through grants. This indicates a very positive financial profile for a philanthropic foundation.
What is the primary focus of The Bill And Joan Alfond Foundation's spending?
As a private foundation with an 'Unknown' NTEE code and no officer compensation, its primary focus is on making grants to other organizations or individuals. The expenses reported are primarily for these grants and minimal administrative costs, rather than direct program delivery.
How has the foundation's financial stability changed over time?
The foundation has shown significant financial stability and growth. Its assets have increased from $8,406,382 in 2011 to $30,941,597 in 2023, demonstrating a strong ability to grow its endowment and sustain its philanthropic activities despite fluctuating annual revenues.
Filing History
IRS 990 filing history for The Bill And Joan Alfond Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), The Bill And Joan Alfond Foundation's revenue has grown by 1169%, moving from $402K to $5.1M. Total assets increased by 268.1% over the same period, from $8.4M to $30.9M. Total functional expenses rose by 468%, from $579K to $3.3M. In its most recent filing year (2023), The Bill And Joan Alfond Foundation reported a surplus of $1.8M, with revenue exceeding expenses. The organization holds $1 in liabilities against $30.9M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $30.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $5.1M | $3.3M | $30.9M | $1 | — | View 990 |
| 2022 | $3.5M | $2.9M | $34.4M | $5.3M | — | View 990 |
| 2021 | $6.1M | $5.0M | $33.5M | $5.0M | — | View 990 |
| 2020 | $12.7M | $4.5M | $32.0M | $4.6M | — | View 990 |
| 2019 | $1.7M | $2.7M | $21.7M | $2.6M | — | — |
| 2015 | $2.8M | $3.1M | $23.2M | $1.6M | — | View 990 |
| 2014 | $5.7M | $2.3M | $21.9M | $1 | — | View 990 |
| 2013 | $14.3M | $1.6M | $18.5M | $1 | — | View 990 |
| 2012 | $15.3M | $1.3M | $10.5M | $1 | — | View 990 |
| 2011 | $402K | $579K | $8.4M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $5.1M, expenses of $3.3M, and assets of $30.9M (revenue +47.0% year-over-year).
- 2022: Revenue of $3.5M, expenses of $2.9M, and assets of $34.4M (revenue -43.6% year-over-year).
- 2021: Revenue of $6.1M, expenses of $5.0M, and assets of $33.5M (revenue -51.7% year-over-year).
- 2020: Revenue of $12.7M, expenses of $4.5M, and assets of $32.0M (revenue +627.5% year-over-year).
- 2019: Revenue of $1.7M, expenses of $2.7M, and assets of $21.7M (revenue -38.0% year-over-year).
- 2015: Revenue of $2.8M, expenses of $3.1M, and assets of $23.2M (revenue -50.3% year-over-year).
- 2014: Revenue of $5.7M, expenses of $2.3M, and assets of $21.9M (revenue -60.3% year-over-year).
- 2013: Revenue of $14.3M, expenses of $1.6M, and assets of $18.5M (revenue -6.7% year-over-year).
- 2012: Revenue of $15.3M, expenses of $1.3M, and assets of $10.5M (revenue +3717.1% year-over-year).
- 2011: Revenue of $402K, expenses of $579K, and assets of $8.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for The Bill And Joan Alfond Foundation:
Data Sources and Methodology
This transparency report for The Bill And Joan Alfond 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.