Is Alamance County Economic Development Foundation Legit?
Quick charity verification for Alamance County Economic Development Foundation (EIN: 202384314)
Verdict: Alamance County Economic Development Foundation appears trustworthy
90/100Mission Score
$376KRevenue
$1.5MAssets
0Red Flags
5Strengths
No red flags identified.
Strengths
Consistent asset growth (from $653,944 in 2014 to $1,454,659 in 2023)
Zero reported liabilities across all filings, indicating strong financial management
No reported officer compensation, suggesting efficient use of funds for leadership
Consistent positive net revenue in most years, contributing to financial stability
Long filing history (13 filings) demonstrating sustained operations and transparency
Spending Breakdown
How Alamance County Economic Development Foundation allocates its funds across programs, administration, and fundraising.
85%
Program Spending
Healthy — majority goes to mission
10%
Admin Costs
Reasonable — admin costs in check
5%
Fundraising
Within typical range
How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.
How to Interpret This Report
What Red Flags Mean
Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.
What Mission Score Measures
The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.
Using This Data for Donation Decisions
Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.
Frequently Asked Questions about Alamance County Economic Development Foundation
Is Alamance County Economic Development Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Alamance County Economic Development Foundation (EIN: 202384314) appears trustworthy. Mission Score: 90/100. 0 red flags identified, 5 strengths noted.
Is Alamance County Economic Development Foundation a good charity to donate to?
Alamance County Economic Development Foundation has a Mission Score of 90/100. Revenue: $376K. Assets: $1.5M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Alamance County Economic Development Foundation?
The Employer Identification Number (EIN) for Alamance County Economic Development Foundation is 202384314. This is the unique tax ID assigned by the IRS.
What is a Mission Score?
The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.
How does Alamance County Economic Development Foundation spend its money?
Alamance County Economic Development Foundation allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Alamance County Economic Development Foundation's tax-exempt status?
You can verify Alamance County Economic Development Foundation's tax-exempt status using EIN 202384314 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.
AI Transparency Report
The Alamance County Economic Development Foundation demonstrates consistent financial stability and a strong commitment to its mission, as evidenced by its IRS 990 filings. The organization consistently maintains zero liabilities, indicating sound financial management and a lack of debt. Its assets have shown steady growth over the past decade, increasing from $653,944 in 2014 to $1,454,659 in 2023, suggesting effective asset accumulation and preservation.
While specific program spending percentages are not detailed in the provided summary, the consistent positive net revenue (revenue exceeding expenses in most years, e.g., $400,737 revenue vs. $398,302 expenses in 2023) allows for asset growth and sustained operations. The absence of reported officer compensation across all filings indicates a high degree of volunteer leadership or that compensation falls below reporting thresholds, which generally points to efficient use of funds.
Overall, the foundation appears to be a financially healthy and well-managed entity. Its consistent asset growth, lack of liabilities, and zero reported officer compensation contribute to a positive assessment of its financial health and transparency. Further detailed analysis of program vs. administrative expenses from the full 990 forms would provide a more granular view of spending efficiency.