The Honey Charitable Foundation Inc
The Honey Charitable Foundation Inc shows recent revenue growth and no executive compensation, but has a history of fluctuating financial performance.
EIN: 203858453 · South Orange, NJ · NTEE: T210 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $798K |
| Total Expenses | $312K |
| Program Spending | 100% |
| Net Assets | $522K |
| Transparency Score | 90/100 |
Is The Honey Charitable 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 Honey Charitable Foundation Inc directs 100% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About The Honey Charitable Foundation Inc
The Honey Charitable Foundation Inc (EIN: 203858453) is a nonprofit organization based in South Orange, NJ, classified under NTEE code T210. The organization reported total revenue of $798K and total assets of $892K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of The Honey Charitable Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
The Honey Charitable Foundation Inc is a small 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 9.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $610K |
| Total Expenses | $312K |
| Surplus / Deficit | +$298K |
| Total Assets | $522K |
| Total Liabilities | $1 |
| Net Assets | $522K |
| Operating Margin | 48.8% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 20.1 months |
Financial Health Grade: A
In 2023, The Honey Charitable Foundation Inc reported a surplus of $298K with revenue exceeding expenses, holds 20.1 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 Honey Charitable Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 9.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +27.0% | -18.6% | +132.8% |
| 2022 | +173.3% | +0.5% | +33.4% |
| 2020 | -100.2% | -20.3% | -53.3% |
| 2019 | +118.9% | +3666.2% | -36.9% |
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 The Honey Charitable Foundation Inc 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: 0%
- programs: 100%
- fundraising: 0%
According to IRS 990 filings, The Honey Charitable Foundation Inc allocates its expenses as follows: admin: 0%, programs: 100%, fundraising: 0%. With 100% 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 $298K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation has consistently been reported as 0% across all available filings, indicating that no salaries are paid to officers. This suggests a volunteer-led organization, which is highly efficient and transparent, directing all funds towards its charitable mission.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of The Honey Charitable Foundation Inc's IRS 990 filings:
- History of negative revenue in 2020 ($-296)
- Periods where expenses significantly exceeded revenue in earlier years (e.g., 2021: Revenue=$175,762, Expenses=$381,418)
Strengths
The following positive indicators were identified for The Honey Charitable Foundation Inc:
- Consistent 0% officer compensation across all filings, indicating high efficiency and transparency
- Significant revenue growth in recent years, from $175,762 in 2021 to $609,849 in 2023
- Positive asset growth, from $224,148 in 2022 to $521,737 in 2023
- Expenses significantly lower than revenue in the latest filing period (2023: Expenses=$312,260, Revenue=$609,849)
Frequently Asked Questions about The Honey Charitable Foundation Inc
Is The Honey Charitable Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, The Honey Charitable Foundation Inc (EIN: 203858453) some concerns. Mission Score: 90/100. 2 red flags identified, 4 strengths noted.
How does The Honey Charitable Foundation Inc spend its money?
The Honey Charitable Foundation Inc directs 100% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to The Honey Charitable Foundation Inc tax-deductible?
The Honey Charitable Foundation Inc is registered as a tax-exempt nonprofit (EIN: 203858453). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does The Honey Charitable Foundation Inc compare to similar nonprofits?
With a transparency score of 90/100 (Excellent), The Honey Charitable Foundation Inc is above average for NTEE category T210 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is The Honey Charitable Foundation Inc located?
The Honey Charitable Foundation Inc is headquartered in South Orange, New Jersey and files with the IRS under EIN 203858453. It is classified under NTEE code T210.
How many years of IRS 990 filings does The Honey Charitable Foundation Inc have?
The Honey Charitable 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 $798K in total revenue.
Is The Honey Charitable Foundation Inc a good charity?
Based on the available data, The Honey Charitable Foundation Inc appears to be a good charity, particularly due to its consistent 0% officer compensation, indicating high efficiency and a strong commitment to its mission. Recent financial trends show positive revenue growth and asset accumulation.
How has the organization's revenue trended over time?
The organization's revenue has fluctuated significantly. It saw a negative revenue in 2020 ($-296) but has experienced substantial growth in recent years, from $175,762 in 2021 to $609,849 in 2023.
What is the organization's approach to executive compensation?
The organization consistently reports 0% officer compensation across all filings, indicating a volunteer-led structure where no salaries are paid to its executives.
Filing History
IRS 990 filing history for The Honey Charitable Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), The Honey Charitable Foundation Inc's revenue has grown by 184.6%, moving from $214K to $610K. Total assets decreased by 30.2% over the same period, from $747K to $522K. Total functional expenses rose by 473.2%, from $54K to $312K. In its most recent filing year (2023), The Honey Charitable Foundation Inc reported a surplus of $298K, with revenue exceeding expenses. The organization holds $1 in liabilities against $522K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $522K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $610K | $312K | $522K | $1 | — | View 990 |
| 2022 | $480K | $383K | $224K | $1 | — | View 990 |
| 2021 | $176K | $381K | $168K | $41K | — | View 990 |
| 2020 | $-296 | $344K | $333K | $1 | — | View 990 |
| 2019 | $172K | $431K | $713K | $7K | — | — |
| 2015 | $78K | $11K | $1.1M | $1 | — | View 990 |
| 2014 | $196K | $89K | $1.2M | $1 | — | View 990 |
| 2013 | $68K | $50K | $1.2M | $1 | — | View 990 |
| 2012 | $28K | $47K | $854K | $1 | — | View 990 |
| 2011 | $214K | $54K | $747K | $1 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $610K, expenses of $312K, and assets of $522K (revenue +27.0% year-over-year).
- 2022: Revenue of $480K, expenses of $383K, and assets of $224K (revenue +173.3% year-over-year).
- 2021: Revenue of $176K, expenses of $381K, and assets of $168K.
- 2020: Revenue of $-296, expenses of $344K, and assets of $333K (revenue -100.2% year-over-year).
- 2019: Revenue of $172K, expenses of $431K, and assets of $713K (revenue +118.9% year-over-year).
- 2015: Revenue of $78K, expenses of $11K, and assets of $1.1M (revenue -60.0% year-over-year).
- 2014: Revenue of $196K, expenses of $89K, and assets of $1.2M (revenue +189.4% year-over-year).
- 2013: Revenue of $68K, expenses of $50K, and assets of $1.2M (revenue +146.0% year-over-year).
- 2012: Revenue of $28K, expenses of $47K, and assets of $854K (revenue -87.1% year-over-year).
- 2011: Revenue of $214K, expenses of $54K, and assets of $747K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for The Honey Charitable Foundation Inc:
Data Sources and Methodology
This transparency report for The Honey Charitable 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.