The Higgins Family Foundation
Higgins Family Foundation consistently spends more than its annual revenue, drawing from its nearly $2 million in assets.
EIN: 137201038 · Greenwich, CT · NTEE: T21 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $74K |
| Total Expenses | $269K |
| Program Spending | 90% |
| CEO/Top Officer Pay | $2 |
| Net Assets | $1.9M |
| Transparency Score | 85/100 |
Is The Higgins Family Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
The Higgins Family Foundation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About The Higgins Family Foundation
The Higgins Family Foundation (EIN: 137201038) is a nonprofit organization based in Greenwich, CT, classified under NTEE code T21. The organization reported total revenue of $74K and total assets of $2.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of The Higgins Family Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
The Higgins Family Foundation is a micro nonprofit that has been operating for 27 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 4.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $119K |
| Total Expenses | $269K |
| Surplus / Deficit | $-150,027 |
| Total Assets | $1.9M |
| Total Liabilities | $1 |
| Net Assets | $1.9M |
| Operating Margin | -126.6% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 84.8 months |
Financial Health Grade: B
In 2023, The Higgins Family Foundation reported a deficit of $150K with expenses exceeding revenue, holds 84.8 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 Higgins Family Foundation's revenue has grown at a compound annual growth rate (CAGR) of 4.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +97.9% | +121.4% | -7.4% |
| 2022 | -29.5% | +0.0% | -2.9% |
| 2021 | +41.1% | +3.4% | -1.7% |
| 2020 | +720.2% | +0.2% | -2.4% |
| 2019 | -66.2% | -14.0% | -15.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1999 |
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 Higgins Family Foundation with a Mission Score of 85 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 Higgins Family Foundation 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 $150K, 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 executive compensation is paid, which is highly efficient for a foundation of its size with assets nearing $2 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.
Red Flags
The following concerns were identified during AI analysis of The Higgins Family Foundation's IRS 990 filings:
- Consistent decline in total assets over the past decade, from $2.96M in 2012 to $1.90M in 2023.
- Annual expenses frequently exceed annual revenue, indicating reliance on asset drawdowns (e.g., 2023 expenses $268,530 vs. revenue $118,503).
Strengths
The following positive indicators were identified for The Higgins Family Foundation:
- Zero officer compensation reported across all filings, indicating high efficiency and no self-enrichment.
- Minimal liabilities ($0 or $1 reported consistently), demonstrating strong financial solvency.
- Substantial asset base of nearly $2 million, providing a strong endowment for future grantmaking.
Frequently Asked Questions about The Higgins Family Foundation
Is The Higgins Family Foundation a legitimate charity?
The Higgins Family Foundation (EIN: 137201038) is a registered tax-exempt nonprofit based in Connecticut. Our AI analysis gives it a Mission Score of 85/100. It has 10 years of IRS 990 filings on record. Total revenue: $74K. 2 red flags identified. 3 strengths noted. Financial health grade: B.
How does The Higgins Family Foundation spend its money?
The Higgins Family Foundation directs 90% of its spending to programs and services. This exceeds the 65% industry benchmark.
Are donations to The Higgins Family Foundation tax-deductible?
The Higgins Family Foundation is registered as a tax-exempt nonprofit (EIN: 137201038). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the The Higgins Family Foundation CEO make?
The Higgins Family Foundation's highest-compensated officer earns $2 annually. The organization reported $74K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
How does The Higgins Family Foundation compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), The Higgins Family Foundation is above average for NTEE category T21 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is The Higgins Family Foundation located?
The Higgins Family Foundation is headquartered in Greenwich, Connecticut and files with the IRS under EIN 137201038. It is classified under NTEE code T21.
How many years of IRS 990 filings does The Higgins Family Foundation have?
The Higgins 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 $74K in total revenue.
Is The Higgins Family Foundation a good charity?
As a private grantmaking foundation, its 'goodness' is typically assessed by its grantmaking impact. Financially, it demonstrates strong solvency with minimal liabilities and no executive compensation. Its consistent spending exceeding revenue suggests active grantmaking from its endowment.
How does The Higgins Family Foundation fund its operations?
The foundation primarily funds its operations and grantmaking through its substantial asset base, as evidenced by its consistent expenses exceeding annual revenue (e.g., $268,530 in expenses vs. $118,503 in revenue in 2023).
What is the trend in The Higgins Family Foundation's assets?
The foundation's assets have shown a gradual decline over the past decade, from $2,959,540 in 2012 to $1,898,667 in 2023, likely due to consistent spending exceeding revenue.
Filing History
IRS 990 filing history for The Higgins Family Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), The Higgins Family Foundation's revenue has grown by 77.2%, moving from $67K to $119K. Total assets decreased by 29.6% over the same period, from $2.7M to $1.9M. Total functional expenses rose by 6831.6%, from $4K to $269K. In its most recent filing year (2023), The Higgins Family Foundation reported a deficit of $150K, with expenses exceeding revenue. The organization holds $1 in liabilities against $1.9M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $1.9M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $119K | $269K | $1.9M | $1 | — | — |
| 2022 | $60K | $121K | $2.1M | $1 | — | View 990 |
| 2021 | $85K | $121K | $2.1M | $1 | — | View 990 |
| 2020 | $60K | $117K | $2.1M | $1 | — | — |
| 2019 | $7K | $117K | $2.2M | $1 | — | View 990 |
| 2015 | $22K | $136K | $2.6M | $0 | — | View 990 |
| 2014 | $25K | $80K | $2.7M | $0 | — | View 990 |
| 2013 | $28K | $215K | $2.8M | $0 | — | View 990 |
| 2012 | $262K | $2K | $3.0M | $0 | — | View 990 |
| 2011 | $67K | $4K | $2.7M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $119K, expenses of $269K, and assets of $1.9M (revenue +97.9% year-over-year).
- 2022: Revenue of $60K, expenses of $121K, and assets of $2.1M (revenue -29.5% year-over-year).
- 2021: Revenue of $85K, expenses of $121K, and assets of $2.1M (revenue +41.1% year-over-year).
- 2020: Revenue of $60K, expenses of $117K, and assets of $2.1M (revenue +720.2% year-over-year).
- 2019: Revenue of $7K, expenses of $117K, and assets of $2.2M (revenue -66.2% year-over-year).
- 2015: Revenue of $22K, expenses of $136K, and assets of $2.6M (revenue -14.4% year-over-year).
- 2014: Revenue of $25K, expenses of $80K, and assets of $2.7M (revenue -8.0% year-over-year).
- 2013: Revenue of $28K, expenses of $215K, and assets of $2.8M (revenue -89.5% year-over-year).
- 2012: Revenue of $262K, expenses of $2K, and assets of $3.0M (revenue +292.0% year-over-year).
- 2011: Revenue of $67K, expenses of $4K, and assets of $2.7M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for The Higgins Family Foundation:
Data Sources and Methodology
This transparency report for The Higgins 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.