Tower Family Fund Inc
Tower Family Fund Inc faces significant operational deficits and declining assets despite no reported officer compensation.
EIN: 205848514 · Buffalo, NY · NTEE: T20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $22.0M |
| Total Expenses | $6.9M |
| Program Spending | 75% |
| Net Assets | $44.2M |
| Transparency Score | 65/100 |
Is Tower Family Fund Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Tower Family Fund Inc directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Tower Family Fund Inc
Tower Family Fund Inc (EIN: 205848514) is a nonprofit organization based in Buffalo, NY, classified under NTEE code T20. The organization reported total revenue of $22.0M and total assets of $40.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Tower Family Fund Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Tower Family Fund Inc is a large nonprofit that has been operating for 19 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -4.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.7M |
| Total Expenses | $6.9M |
| Surplus / Deficit | $-4,194,624 |
| Total Assets | $44.2M |
| Total Liabilities | $1 |
| Net Assets | $44.2M |
| Operating Margin | -157.6% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 77.4 months |
Financial Health Grade: B
In 2023, Tower Family Fund Inc reported a deficit of $4.2M with expenses exceeding revenue, holds 77.4 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), Tower Family Fund Inc's revenue has declined at a compound annual growth rate (CAGR) of -4.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -43.5% | -10.2% | -8.7% |
| 2022 | -28.0% | +44.8% | -5.7% |
| 2021 | +142.6% | -14.1% | +2.5% |
| 2020 | +4.3% | +51.6% | -6.4% |
| 2019 | -50.8% | -48.5% | -18.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2007 |
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 Tower Family Fund Inc with a Mission Score of 65 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Tower Family Fund Inc allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% 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 $4.2M, 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 either a volunteer leadership structure or that executive salaries are covered by an affiliated entity, which is a strong positive for transparency regarding direct executive pay.
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 Tower Family Fund Inc's IRS 990 filings:
- Consistent operational deficits (expenses exceeding revenue) in multiple recent years (e.g., 2023, 2022, 2020).
- Significant decline in total assets over the past decade, from $68,148,334 in 2014 to $44,200,963 in 2023.
- Unsustainable financial model where spending consistently outpaces income.
- Lack of detailed expense breakdown in the provided data makes it difficult to assess specific areas of inefficiency.
Strengths
The following positive indicators were identified for Tower Family Fund Inc:
- Consistently reports 0% officer compensation, indicating strong transparency or volunteer leadership.
- Maintains a substantial asset base ($44,200,963 in 2023) despite operational losses.
- Reports consistently low or zero liabilities, indicating good debt management.
Frequently Asked Questions about Tower Family Fund Inc
Is Tower Family Fund Inc a legitimate charity?
Tower Family Fund Inc (EIN: 205848514) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 65/100. It has 10 years of IRS 990 filings on record. Total revenue: $22.0M. 4 red flags identified. 3 strengths noted. Financial health grade: B.
How does Tower Family Fund Inc spend its money?
Tower Family Fund Inc directs 75% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Tower Family Fund Inc tax-deductible?
Tower Family Fund Inc is registered as a tax-exempt nonprofit (EIN: 205848514). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Tower Family Fund Inc's spending goes to programs?
Tower Family Fund Inc directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Tower Family Fund Inc compare to similar nonprofits?
With a transparency score of 65/100 (Good), Tower Family Fund Inc is above average for NTEE category T20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Tower Family Fund Inc located?
Tower Family Fund Inc is headquartered in Buffalo, New York and files with the IRS under EIN 205848514. It is classified under NTEE code T20.
How many years of IRS 990 filings does Tower Family Fund Inc have?
Tower Family Fund 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 $22.0M in total revenue.
Why has Tower Family Fund Inc experienced consistent operational deficits in recent years?
The filings show that in 2023, expenses ($6,855,846) significantly exceeded revenue ($2,661,222), a trend also seen in 2022 and 2020. This suggests that the organization's spending has outpaced its income generation.
What is the cause of the significant decline in assets from $68 million in 2014 to $44 million in 2023?
The consistent operational deficits, where expenses exceed revenue, likely contribute to the depletion of the organization's asset base over time, as funds are drawn from reserves to cover shortfalls.
How does Tower Family Fund Inc sustain its operations with such large deficits?
The organization appears to be drawing from its substantial asset base to cover operational shortfalls. This is not a sustainable long-term strategy without a significant increase in revenue or reduction in expenses.
Is the lack of officer compensation a common practice for organizations of this size?
While not unheard of, it is less common for organizations with assets over $40 million to report zero officer compensation, suggesting either a highly volunteer-driven leadership or an alternative compensation structure not reflected in these specific filings.
What steps is Tower Family Fund Inc taking to address its declining revenue and increasing expenses?
The provided data does not detail specific strategies, but the financial trends indicate a critical need for the organization to re-evaluate its fundraising efforts and expenditure management to ensure long-term viability.
Filing History
IRS 990 filing history for Tower Family Fund Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Tower Family Fund Inc's revenue has declined by 40.4%, moving from $4.5M to $2.7M. Total assets increased by 42.1% over the same period, from $31.1M to $44.2M. Total functional expenses rose by 407.2%, from $1.4M to $6.9M. In its most recent filing year (2023), Tower Family Fund Inc reported a deficit of $4.2M, with expenses exceeding revenue. The organization holds $1 in liabilities against $44.2M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $44.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.7M | $6.9M | $44.2M | $1 | — | View 990 |
| 2022 | $4.7M | $7.6M | $48.4M | $1 | — | View 990 |
| 2021 | $6.5M | $5.3M | $51.3M | $1 | — | View 990 |
| 2020 | $2.7M | $6.1M | $50.1M | $1 | — | — |
| 2019 | $2.6M | $4.0M | $53.5M | $0 | — | View 990 |
| 2015 | $5.3M | $7.9M | $65.5M | $0 | — | View 990 |
| 2014 | $41.0M | $4.8M | $68.1M | $0 | — | View 990 |
| 2013 | $3.7M | $3.2M | $32.0M | $0 | — | View 990 |
| 2012 | $2.0M | $1.7M | $31.5M | $0 | — | View 990 |
| 2011 | $4.5M | $1.4M | $31.1M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.7M, expenses of $6.9M, and assets of $44.2M (revenue -43.5% year-over-year).
- 2022: Revenue of $4.7M, expenses of $7.6M, and assets of $48.4M (revenue -28.0% year-over-year).
- 2021: Revenue of $6.5M, expenses of $5.3M, and assets of $51.3M (revenue +142.6% year-over-year).
- 2020: Revenue of $2.7M, expenses of $6.1M, and assets of $50.1M (revenue +4.3% year-over-year).
- 2019: Revenue of $2.6M, expenses of $4.0M, and assets of $53.5M (revenue -50.8% year-over-year).
- 2015: Revenue of $5.3M, expenses of $7.9M, and assets of $65.5M (revenue -87.2% year-over-year).
- 2014: Revenue of $41.0M, expenses of $4.8M, and assets of $68.1M (revenue +1010.6% year-over-year).
- 2013: Revenue of $3.7M, expenses of $3.2M, and assets of $32.0M (revenue +81.4% year-over-year).
- 2012: Revenue of $2.0M, expenses of $1.7M, and assets of $31.5M (revenue -54.5% year-over-year).
- 2011: Revenue of $4.5M, expenses of $1.4M, and assets of $31.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Tower Family Fund Inc:
Data Sources and Methodology
This transparency report for Tower Family Fund 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.