Is Alleghany Highlands Economic Development Corporation Legit?
Quick charity verification for Alleghany Highlands Economic Development Corporation (EIN: 161620392)
Verdict: Alleghany Highlands Economic Development Corporation appears trustworthy
90/100Mission Score
$195KRevenue
$371KAssets
1Red Flags
4Strengths
Red Flags
Significant decline in revenue over the past five years (from $579,290 in 2020 to $239,255 in 2023).
Strengths
Consistent 0% officer compensation across all filings, indicating high efficiency and transparency.
Assets have shown consistent growth, from $194,269 in 2019 to $316,663 in 2023, demonstrating financial stability.
Liabilities remain low relative to assets, indicating sound financial management.
Expenses generally kept below revenue, leading to positive net income in most years.
Spending Breakdown
How Alleghany Highlands Economic Development Corporation 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 Alleghany Highlands Economic Development Corporation
Is Alleghany Highlands Economic Development Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Alleghany Highlands Economic Development Corporation (EIN: 161620392) appears trustworthy. Mission Score: 90/100. 1 red flag identified, 4 strengths noted.
Is Alleghany Highlands Economic Development Corporation a good charity to donate to?
Alleghany Highlands Economic Development Corporation has a Mission Score of 90/100. Revenue: $195K. Assets: $371K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Alleghany Highlands Economic Development Corporation?
The Employer Identification Number (EIN) for Alleghany Highlands Economic Development Corporation is 161620392. 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 Alleghany Highlands Economic Development Corporation spend its money?
Alleghany Highlands Economic Development Corporation allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Alleghany Highlands Economic Development Corporation's tax-exempt status?
You can verify Alleghany Highlands Economic Development Corporation's tax-exempt status using EIN 161620392 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 Alleghany Highlands Economic Development Corporation (AHEDC) demonstrates a consistent operational history with 13 filings, indicating a stable presence in its community. Over the past five years, the organization's revenue has shown a declining trend, from a high of $579,290 in 2020 to $239,255 in 2023. Despite this, expenses have generally remained below revenue, allowing for asset growth from $194,269 in 2019 to $316,663 in 2023. The organization's liabilities have remained relatively low compared to its assets, suggesting sound financial management. A notable strength is the consistent reporting of 0% officer compensation across all available filings, which speaks to a high level of financial transparency and a commitment to directing funds towards the organization's mission rather than executive salaries. This practice is highly commendable for a nonprofit.