Reesspecht Life Foundation Inc

Nonprofit profile at a glance

EIN
463879296
IRS 990-EZ coverage
2014–2024
Forms available
Form 990-EZ 2024
Location
Sound Beach, NY, USA
Phone
6313539924
Rating
93
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$101,127
Expenses
$95,182
Assets
$2,607
Liabilities
$89,537

Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • SAMANTHA SPECHT (VICE PRESIDENT)
  • RICHARD SPECHT (FOUNDER, PRESIDENT, CEO)

People named in this filing

  • JAMES SCHIRALDI (SECRETARY)
  • SAMANTHA SPECHT (VICE PRESIDENT)
  • MELINA RUCK (TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To encourage others to perform acts of kindness and to remind people of the importance of community, compassion and respect.

What it reported doing in 2024

To provide benevolent assistance to individuals or organizations that demonstrate a commitment to reesspecht life foundation's ("the foundation's") ideals of community, compassion and respect. Benevolent assistance will primarily take the form of monetary assistance (i.e. Scholarships or donations) to individuals or organizations, but may also include donations of food and other sundries. The foundation will generate funds through receipt of general contributions, the production and sale of its "pay it forward" cards and the production and sale of a children's book that illustrates the foundation's core ideals.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Total assets are small relative to annual expenses; liquid coverage is unknown and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 96
  • Transparency & Controls: 100
  • Sustainability: 25
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 94.1%; rating input score 94
  • Program expense ratio: 100%; rating input score 100

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100

Sustainability

  • Operating margin: 5.9%; rating input score 50; 50th percentile among comparable filings
  • Total-asset coverage ratio: 0.03; rating input score 5; 5th percentile among comparable filings
  • Liabilities to assets ratio: 34.34; rating input score 0; 0th percentile among comparable filings
  • Officer compensation ratio: 54.3%; rating input score 3; 3rd percentile among comparable filings

Growth

  • Program expense growth: 5.2% per year; rating input score 100; 48th percentile among comparable filings
  • Revenue growth: 1.8% per year; rating input score 100; 30th percentile among comparable filings
  • Asset growth: -20.6% per year; rating input score 0; 6th percentile among comparable filings

Details

  • Where the money goes: 94.1% of revenue deployed · 100% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $95K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 8 of 8 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 10 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Total-asset coverage ratio scored 5/100.
  • Review — Sustainability: Operating margin scored 50/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 3/100.