Quick charity verification for Binghampton Development Corporation (EIN: 200062075)
Verdict: Binghampton Development Corporation appears trustworthy
95/100Mission Score
$3.6MRevenue
$14.7MAssets
2Red Flags
4Strengths
Red Flags
Unusually low or zero reported administrative and fundraising expenses, potentially indicating miscategorization of costs or an incomplete picture of operational overhead.
Consistent 0% officer compensation for an organization with $14M+ in assets and $2M+ in revenue, which is atypical and warrants further investigation into how leadership is supported.
Strengths
100% of reported expenses consistently allocated to program services, demonstrating exceptional program efficiency.
Significant growth in assets from $5,019,144 in 2014 to $14,559,936 in 2023, indicating strong financial management and sustainability.
Consistent positive net income in most years, contributing to asset growth and financial stability.
No reported officer compensation, suggesting a strong commitment to directing funds towards the mission rather than executive salaries.
Spending Breakdown
How Binghampton Development Corporation allocates its funds across programs, administration, and fundraising.
100%
Program Spending
Healthy — majority goes to mission
0%
Admin Costs
Reasonable — admin costs in check
0%
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 Binghampton Development Corporation
Is Binghampton Development Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Binghampton Development Corporation (EIN: 200062075) appears trustworthy. Mission Score: 95/100. 2 red flags identified, 4 strengths noted.
Is Binghampton Development Corporation a good charity to donate to?
Binghampton Development Corporation has a Mission Score of 95/100. Revenue: $3.6M. Assets: $14.7M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Binghampton Development Corporation?
The Employer Identification Number (EIN) for Binghampton Development Corporation is 200062075. 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 Binghampton Development Corporation spend its money?
Binghampton Development Corporation allocates 100% to programs, 0% to administration, and 0% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Binghampton Development Corporation's tax-exempt status?
You can verify Binghampton Development Corporation's tax-exempt status using EIN 200062075 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
Binghampton Development Corporation demonstrates consistent financial health with growing assets and generally positive net income over the past decade. For example, assets have grown from $5,019,144 in 2014 to $14,559,936 in 2023. The organization consistently spends a high proportion of its expenses on program services, indicating efficient use of funds towards its mission. In the latest filing (2023), expenses were $1,882,878 against revenues of $2,160,012, showing a healthy surplus. The absence of reported officer compensation across all filings suggests a strong commitment to directing resources to programs rather than administrative overhead, which is a positive indicator of transparency and efficiency. The organization's financial reporting appears consistent and transparent through its regular IRS 990 filings.