The Eugene C Armstrong Family Foundation Inc
Eugene C Armstrong Family Foundation consistently spends more than it earns, drawing down assets.
EIN: 203970918 · Greenwood Vlg, CO · NTEE: T22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $359K |
| Total Expenses | $493K |
| Program Spending | 90% |
| Net Assets | $6.5M |
| Transparency Score | 80/100 |
Is The Eugene C Armstrong 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 →
The Eugene C Armstrong Family Foundation Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About The Eugene C Armstrong Family Foundation Inc
The Eugene C Armstrong Family Foundation Inc (EIN: 203970918) is a nonprofit organization based in Greenwood Vlg, CO, classified under NTEE code T22. The organization reported total revenue of $359K and total assets of $6.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of The Eugene C Armstrong Family Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
The Eugene C Armstrong Family Foundation Inc is a small nonprofit that has been operating for 17 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 17.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $370K |
| Total Expenses | $493K |
| Surplus / Deficit | $-122,683 |
| Total Assets | $6.5M |
| Total Liabilities | $1 |
| Net Assets | $6.5M |
| Operating Margin | -33.1% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 159.4 months |
Financial Health Grade: B
In 2023, The Eugene C Armstrong Family Foundation Inc reported a deficit of $123K with expenses exceeding revenue, holds 159.4 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), The Eugene C Armstrong Family Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 17.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +12.3% | -3.8% | -1.9% |
| 2022 | -6.5% | +7.1% | -28.2% |
| 2021 | -5.5% | +1.5% | -1.3% |
| 2020 | -44.3% | +1.4% | -1.2% |
| 2019 | +62.6% | +27.7% | +25.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2009 |
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 Eugene C Armstrong Family Foundation Inc with a Mission Score of 80 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: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, The Eugene C Armstrong Family Foundation Inc allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% 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 $123K, 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 are paid to its officers, which is highly favorable for resource allocation towards its mission.
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 Eugene C Armstrong Family Foundation Inc's IRS 990 filings:
- Consistent deficit spending: Expenses have exceeded revenue in recent years (e.g., $493,050 expenses vs. $370,367 revenue in 202312), leading to asset depletion.
- Significant asset decline: Assets have decreased by over $3 million from $9,531,059 in 201912 to $6,547,720 in 202312.
Strengths
The following positive indicators were identified for The Eugene C Armstrong Family Foundation Inc:
- Zero officer compensation: The organization consistently reports 0% officer compensation, indicating efficient use of funds not directed towards executive salaries.
- Substantial asset base: Despite recent declines, the foundation maintains a significant asset base of $6,547,720 (202312), providing financial stability.
- Consistent IRS 990 filing history: A long history of 10 filings demonstrates good compliance with reporting requirements.
- Minimal liabilities: The foundation consistently reports very low liabilities (e.g., $1 in 202312), indicating sound financial management regarding debt.
Frequently Asked Questions about The Eugene C Armstrong Family Foundation Inc
Is The Eugene C Armstrong Family Foundation Inc a legitimate charity?
The Eugene C Armstrong Family Foundation Inc (EIN: 203970918) is a registered tax-exempt nonprofit based in Colorado. Our AI analysis gives it a Mission Score of 80/100. It has 10 years of IRS 990 filings on record. Total revenue: $359K. 2 red flags identified. 4 strengths noted. Financial health grade: B.
How does The Eugene C Armstrong Family Foundation Inc spend its money?
The Eugene C Armstrong Family Foundation Inc directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to The Eugene C Armstrong Family Foundation Inc tax-deductible?
The Eugene C Armstrong Family Foundation Inc is registered as a tax-exempt nonprofit (EIN: 203970918). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does The Eugene C Armstrong Family Foundation Inc compare to similar nonprofits?
With a transparency score of 80/100 (Excellent), The Eugene C Armstrong Family Foundation Inc 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 The Eugene C Armstrong Family Foundation Inc located?
The Eugene C Armstrong Family Foundation Inc is headquartered in Greenwood Vlg, Colorado and files with the IRS under EIN 203970918. It is classified under NTEE code T22.
How many years of IRS 990 filings does The Eugene C Armstrong Family Foundation Inc have?
The Eugene C Armstrong 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 $359K in total revenue.
Is The Eugene C Armstrong Family Foundation Inc a good charity?
As a private foundation, its 'goodness' is often measured by its grant-making impact. Financially, it consistently reports zero officer compensation, which is excellent. However, its recent trend of expenses exceeding revenue, such as $493,050 in expenses against $370,367 in revenue in 202312, suggests it is drawing down its asset base. This is not inherently negative for a foundation, but it's a trend to monitor.
Why are assets decreasing?
Assets have decreased from a peak of $9,531,059 in 201912 to $6,547,720 in 202312 primarily because the foundation's expenses have consistently exceeded its revenue in recent years. For example, in 202312, expenses were $493,050 while revenue was $370,367, leading to a deficit that is covered by its existing asset base.
What is the foundation's primary purpose?
Based on its NTEE code T22 (Private Grantmaking Foundations), its primary purpose is to make grants to other organizations or individuals, rather than directly operating programs. The provided data does not detail specific grant recipients or program areas.
Filing History
IRS 990 filing history for The Eugene C Armstrong Family Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), The Eugene C Armstrong Family Foundation Inc's revenue has grown by 570.4%, moving from $55K to $370K. Total assets increased by 550.3% over the same period, from $1.0M to $6.5M. Total functional expenses rose by 856%, from $52K to $493K. In its most recent filing year (2023), The Eugene C Armstrong Family Foundation Inc reported a deficit of $123K, with expenses exceeding revenue. The organization holds $1 in liabilities against $6.5M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $6.5M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $370K | $493K | $6.5M | $1 | — | View 990 |
| 2022 | $330K | $512K | $6.7M | $782 | — | View 990 |
| 2021 | $353K | $478K | $9.3M | $1 | — | View 990 |
| 2020 | $373K | $471K | $9.4M | $1 | — | — |
| 2019 | $670K | $465K | $9.5M | $19K | — | View 990 |
| 2015 | $412K | $364K | $7.6M | $1 | — | View 990 |
| 2014 | $360K | $285K | $7.6M | $1 | — | View 990 |
| 2013 | $5.4M | $80K | $7.5M | $1 | — | View 990 |
| 2012 | $1.3M | $52K | $2.2M | $1 | — | View 990 |
| 2011 | $55K | $52K | $1.0M | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $370K, expenses of $493K, and assets of $6.5M (revenue +12.3% year-over-year).
- 2022: Revenue of $330K, expenses of $512K, and assets of $6.7M (revenue -6.5% year-over-year).
- 2021: Revenue of $353K, expenses of $478K, and assets of $9.3M (revenue -5.5% year-over-year).
- 2020: Revenue of $373K, expenses of $471K, and assets of $9.4M (revenue -44.3% year-over-year).
- 2019: Revenue of $670K, expenses of $465K, and assets of $9.5M (revenue +62.6% year-over-year).
- 2015: Revenue of $412K, expenses of $364K, and assets of $7.6M (revenue +14.6% year-over-year).
- 2014: Revenue of $360K, expenses of $285K, and assets of $7.6M (revenue -93.3% year-over-year).
- 2013: Revenue of $5.4M, expenses of $80K, and assets of $7.5M (revenue +322.2% year-over-year).
- 2012: Revenue of $1.3M, expenses of $52K, and assets of $2.2M (revenue +2198.4% year-over-year).
- 2011: Revenue of $55K, expenses of $52K, and assets of $1.0M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for The Eugene C Armstrong Family Foundation Inc:
Data Sources and Methodology
This transparency report for The Eugene C Armstrong 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.