United Bank Foundation Massachusettes Inc
United Bank Foundation Massachusetts Inc. consistently spends more than its revenue, drawing down assets.
EIN: 203128745 · Hartford, CT · NTEE: T310 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $697K |
| Total Expenses | $396K |
| Program Spending | 90% |
| Net Assets | $4.4M |
| Transparency Score | 70/100 |
Is United Bank Foundation Massachusettes Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
United Bank Foundation Massachusettes Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About United Bank Foundation Massachusettes Inc
United Bank Foundation Massachusettes Inc (EIN: 203128745) is a nonprofit organization based in Hartford, CT, classified under NTEE code T310. The organization reported total revenue of $697K and total assets of $4.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of United Bank Foundation Massachusettes Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
United Bank Foundation Massachusettes Inc is a small nonprofit that has been operating for 20 years, with 5 years of IRS 990 filings on record (2011–2015). Revenue has grown at a compound annual rate of 16.3%.
Key Financial Metrics (2015)
From the most recent IRS 990 filing on record:
| Total Revenue | $222K |
| Total Expenses | $396K |
| Surplus / Deficit | $-173,099 |
| Total Assets | $6.3M |
| Total Liabilities | $1.9M |
| Net Assets | $4.4M |
| Operating Margin | -77.8% |
| Debt-to-Asset Ratio | 29.8% |
| Months of Reserves | 189.6 months |
Financial Health Grade: B
In 2015, United Bank Foundation Massachusettes Inc reported a deficit of $173K with expenses exceeding revenue, holds 189.6 months of operating reserves (strong position), has a debt-to-asset ratio of 29.8% (moderate leverage).
Financial Trends
Over 5 years of filings (2011–2015), United Bank Foundation Massachusettes Inc's revenue has grown at a compound annual growth rate (CAGR) of 16.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2015 | +20.8% | -5.2% | -10.4% |
| 2014 | +19.6% | +8.3% | +2.7% |
| 2013 | +13.2% | +25.4% | +20.0% |
| 2012 | +11.8% | +2.3% | -2.6% |
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 United Bank Foundation Massachusettes Inc with a Mission Score of 70 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: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, United Bank Foundation Massachusettes 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 (2015)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $173K, with expenses exceeding revenue.
- Debt-to-asset ratio: 29.8%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all five available filings, indicating that no officers or key employees received compensation from the organization, which is highly efficient in this area.
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 United Bank Foundation Massachusettes Inc's IRS 990 filings:
- Consistent deficit spending (expenses exceeding revenue) over multiple years.
- Declining asset base from $6,977,231 in 2014 to $4,800,256 currently, indicating reliance on reserves.
- Lack of detailed expense breakdown (program vs. admin vs. fundraising) in provided data for the latest period to fully assess efficiency.
Strengths
The following positive indicators were identified for United Bank Foundation Massachusettes Inc:
- Zero reported officer compensation, indicating high efficiency in executive overhead.
- Substantial asset base of $4,800,256, providing a buffer despite deficit spending.
- Clear focus as a grantmaking foundation (NTEE T310), suggesting direct philanthropic impact.
Frequently Asked Questions about United Bank Foundation Massachusettes Inc
Is United Bank Foundation Massachusettes Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, United Bank Foundation Massachusettes Inc (EIN: 203128745) some concerns. Mission Score: 70/100. 3 red flags identified, 3 strengths noted.
How does United Bank Foundation Massachusettes Inc spend its money?
United Bank Foundation Massachusettes Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to United Bank Foundation Massachusettes Inc tax-deductible?
United Bank Foundation Massachusettes Inc is registered as a tax-exempt nonprofit (EIN: 203128745). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does United Bank Foundation Massachusettes Inc compare to similar nonprofits?
With a transparency score of 70/100 (Good), United Bank Foundation Massachusettes Inc is above average for NTEE category T310 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is United Bank Foundation Massachusettes Inc located?
United Bank Foundation Massachusettes Inc is headquartered in Hartford, Connecticut and files with the IRS under EIN 203128745. It is classified under NTEE code T310.
How many years of IRS 990 filings does United Bank Foundation Massachusettes Inc have?
United Bank Foundation Massachusettes Inc has 5 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 $697K in total revenue.
Is United Bank Foundation Massachusetts Inc. financially sustainable long-term?
The foundation has consistently spent more than its revenue for the past five years, leading to a decline in assets from $6,977,231 in 2014 to $4,800,256 currently. While the latest revenue of $697,372 is higher, without corresponding expense data, its long-term sustainability is questionable if this trend of deficit spending continues without a clear strategy for asset replenishment or a planned spend-down.
How does the foundation manage its administrative costs?
The foundation reports 0% officer compensation across all available filings, indicating very low, if any, executive administrative costs. This suggests a highly efficient approach to executive overhead.
What is the primary purpose of this organization?
Based on its NTEE code T310 (Grantmaking Foundations), the primary purpose of United Bank Foundation Massachusetts Inc. is to make grants to other organizations or individuals, fulfilling a philanthropic mission.
Filing History
IRS 990 filing history for United Bank Foundation Massachusettes Inc showing financial trends over 5 years of public records:
Over 5 years of IRS 990 filings (2011–2015), United Bank Foundation Massachusettes Inc's revenue has grown by 82.7%, moving from $122K to $222K. Total assets increased by 7.5% over the same period, from $5.8M to $6.3M. Total functional expenses rose by 31.6%, from $301K to $396K. In its most recent filing year (2015), United Bank Foundation Massachusettes Inc reported a deficit of $173K, with expenses exceeding revenue. The organization holds $1.9M in liabilities against $6.3M in assets (debt-to-asset ratio: 29.8%), resulting in net assets of $4.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2015 | $222K | $396K | $6.3M | $1.9M | — | View 990 |
| 2014 | $184K | $417K | $7.0M | $1.7M | — | View 990 |
| 2013 | $154K | $385K | $6.8M | $1.5M | — | View 990 |
| 2012 | $136K | $307K | $5.7M | $1.2M | — | View 990 |
| 2011 | $122K | $301K | $5.8M | $1.1M | — | View 990 |
Year-by-Year Financial Summary
- 2015: Revenue of $222K, expenses of $396K, and assets of $6.3M (revenue +20.8% year-over-year).
- 2014: Revenue of $184K, expenses of $417K, and assets of $7.0M (revenue +19.6% year-over-year).
- 2013: Revenue of $154K, expenses of $385K, and assets of $6.8M (revenue +13.2% year-over-year).
- 2012: Revenue of $136K, expenses of $307K, and assets of $5.7M (revenue +11.8% year-over-year).
- 2011: Revenue of $122K, expenses of $301K, and assets of $5.8M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for United Bank Foundation Massachusettes Inc:
Data Sources and Methodology
This transparency report for United Bank Foundation Massachusettes 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.