Verrecchia Family Foundation Inc
EIN: 454067662 · Narragansett, RI · NTEE: T22
| Metric | Value |
|---|---|
| Total Revenue | $71K |
| Total Expenses | $162K |
| Net Assets | $935K |
Is Verrecchia Family Foundation Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Verrecchia Family Foundation Inc
Verrecchia Family Foundation Inc (EIN: 454067662) is a nonprofit organization based in Narragansett, RI, classified under NTEE code T22. The organization reported total revenue of $71K and total assets of $885K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Verrecchia Family Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Verrecchia Family Foundation Inc is a micro nonprofit that has been operating for 14 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -15.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $107K |
| Total Expenses | $162K |
| Surplus / Deficit | $-55,322 |
| Total Assets | $935K |
| Total Liabilities | $1 |
| Net Assets | $935K |
| Operating Margin | -51.9% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 69.3 months |
Financial Health Grade: B
In 2023, Verrecchia Family Foundation Inc reported a deficit of $55K with expenses exceeding revenue, holds 69.3 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), Verrecchia Family Foundation Inc's revenue has declined at a compound annual growth rate (CAGR) of -15.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -33.7% | -10.9% | -5.7% |
| 2022 | +26.7% | +17.9% | -2.1% |
| 2021 | -9.0% | -2.1% | -2.6% |
| 2020 | +74.1% | +10.3% | -1.7% |
| 2019 | +32.2% | +71.1% | -15.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2012 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Verrecchia Family Foundation Inc has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Verrecchia Family Foundation Inc with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $55K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Frequently Asked Questions about Verrecchia Family Foundation Inc
Is Verrecchia Family Foundation Inc a legitimate charity?
Verrecchia Family Foundation Inc (EIN: 454067662) is a registered tax-exempt nonprofit based in Rhode Island. It has 10 years of IRS 990 filings on record. Total revenue: $71K. No red flags identified. Financial health grade: B.
How does Verrecchia Family Foundation Inc spend its money?
Verrecchia Family Foundation Inc reported $71K in total revenue in IRS 990 filings. 10 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Verrecchia Family Foundation Inc tax-deductible?
Verrecchia Family Foundation Inc is registered as a tax-exempt nonprofit (EIN: 454067662). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Verrecchia Family Foundation Inc located?
Verrecchia Family Foundation Inc is headquartered in Narragansett, Rhode Island and files with the IRS under EIN 454067662. It is classified under NTEE code T22.
How many years of IRS 990 filings does Verrecchia Family Foundation Inc have?
Verrecchia 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 $71K in total revenue.
Filing History
IRS 990 filing history for Verrecchia Family Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Verrecchia Family Foundation Inc's revenue has declined by 86.7%, moving from $801K to $107K. Total assets increased by 16.6% over the same period, from $801K to $935K. In its most recent filing year (2023), Verrecchia Family Foundation Inc reported a deficit of $55K, with expenses exceeding revenue. The organization holds $1 in liabilities against $935K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $935K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $107K | $162K | $935K | $1 | — | View 990 |
| 2022 | $161K | $182K | $992K | $1 | — | View 990 |
| 2021 | $127K | $154K | $1.0M | $0 | — | — |
| 2020 | $139K | $157K | $1.0M | $1.0M | — | View 990 |
| 2019 | $80K | $143K | $1.1M | $0 | — | View 990 |
| 2015 | $61K | $83K | $1.3M | $0 | — | View 990 |
| 2014 | $348K | $59K | $1.3M | $0 | — | View 990 |
| 2013 | $46K | $62K | $991K | $0 | — | View 990 |
| 2012 | $227K | $22K | $1.0M | $0 | — | View 990 |
| 2011 | $801K | $0 | $801K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $107K, expenses of $162K, and assets of $935K (revenue -33.7% year-over-year).
- 2022: Revenue of $161K, expenses of $182K, and assets of $992K (revenue +26.7% year-over-year).
- 2021: Revenue of $127K, expenses of $154K, and assets of $1.0M (revenue -9.0% year-over-year).
- 2020: Revenue of $139K, expenses of $157K, and assets of $1.0M (revenue +74.1% year-over-year).
- 2019: Revenue of $80K, expenses of $143K, and assets of $1.1M (revenue +32.2% year-over-year).
- 2015: Revenue of $61K, expenses of $83K, and assets of $1.3M (revenue -82.6% year-over-year).
- 2014: Revenue of $348K, expenses of $59K, and assets of $1.3M (revenue +653.6% year-over-year).
- 2013: Revenue of $46K, expenses of $62K, and assets of $991K (revenue -79.6% year-over-year).
- 2012: Revenue of $227K, expenses of $22K, and assets of $1.0M (revenue -71.7% year-over-year).
- 2011: Revenue of $801K, expenses of $0, and assets of $801K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Verrecchia Family Foundation Inc:
Data Sources and Methodology
This transparency report for Verrecchia 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.