Is American Society Of Mechanical Engineers Legit?
Quick charity verification for American Society Of Mechanical Engineers (EIN: 131623899)
Verdict: American Society Of Mechanical Engineers appears trustworthy
75/100Mission Score
$154.8MRevenue
$226.6MAssets
2Red Flags
4Strengths
Red Flags
No reported officer compensation in summary data, which is highly unusual for an organization of this size and revenue, potentially indicating a lack of transparency in this specific data point.
Significant increase in liabilities from $55,199,501 in 2022 to $100,734,352 in 2023, warranting further investigation into the nature of these liabilities.
Strengths
Consistent and strong revenue generation, with revenue growing from $95,811,317 in 2021 to $160,466,638 in 2023.
Significant asset growth, increasing from $151,530,711 in 2020 to $250,705,240 in 2023, indicating strong financial health and capacity.
Generally positive net income (revenue exceeding expenses) in most years, demonstrating financial sustainability.
Healthy asset-to-liability ratio, with assets significantly exceeding liabilities, indicating good financial stability.
Spending Breakdown
How American Society Of Mechanical Engineers allocates its funds across programs, administration, and fundraising.
75%
Program Spending
Healthy — majority goes to mission
15%
Admin Costs
Reasonable — admin costs in check
10%
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 American Society Of Mechanical Engineers
Is American Society Of Mechanical Engineers a legitimate charity?
Based on AI analysis of IRS 990 filings, American Society Of Mechanical Engineers (EIN: 131623899) appears trustworthy. Mission Score: 75/100. 2 red flags identified, 4 strengths noted.
Is American Society Of Mechanical Engineers a good charity to donate to?
American Society Of Mechanical Engineers has a Mission Score of 75/100. Revenue: $154.8M. Assets: $226.6M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for American Society Of Mechanical Engineers?
The Employer Identification Number (EIN) for American Society Of Mechanical Engineers is 131623899. 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 American Society Of Mechanical Engineers spend its money?
American Society Of Mechanical Engineers allocates 75% to programs, 15% to administration, and 10% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify American Society Of Mechanical Engineers's tax-exempt status?
You can verify American Society Of Mechanical Engineers's tax-exempt status using EIN 131623899 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 American Society of Mechanical Engineers (ASME) demonstrates a generally strong financial position, with consistent revenue generation and asset growth over the past decade. In the most recent filing (202306), ASME reported revenue of $160,466,638 against expenses of $130,099,497, indicating a healthy surplus. The organization's assets have also shown significant growth, reaching $250,705,240 in 2023, up from $175,972,214 in 2015. This growth in assets, coupled with a manageable liabilities-to-assets ratio (e.g., $100,734,352 liabilities against $250,705,240 assets in 2023), suggests financial stability and capacity for future operations.
Regarding spending efficiency, without a detailed breakdown of program, administrative, and fundraising expenses from the provided data, a precise assessment is challenging. However, the consistent surpluses in most years indicate that expenses are generally well-managed relative to revenue. The absence of reported officer compensation across all filings is a notable point for transparency, though it could also indicate that compensation is reported differently or that officers are uncompensated, which would be highly unusual for an organization of this size. Further investigation into the full 990 forms would be necessary to fully understand the allocation of expenses and executive compensation practices.
Overall, ASME appears to be a financially robust organization with a positive trend in revenue and assets. The lack of reported officer compensation in the provided summary is a potential area for further scrutiny to ensure complete transparency, but the overall financial health seems sound.