Is Block Island Economic Development Foundation Inc Legit?
Quick charity verification for Block Island Economic Development Foundation Inc (EIN: 222956223)
Verdict: Block Island Economic Development Foundation Inc shows mixed signals
45/100Mission Score
$445KRevenue
$1.4MAssets
4Red Flags
2Strengths
Red Flags
Consistent decline in total assets over the past eight years, from $2,104,081 in 2014 to $1,360,969 in 2021.
Highly inconsistent revenue, including negative revenue years, indicating potential financial instability.
Lack of reported compensation (0%) across all filings raises questions about operational structure and potential hidden costs or unreported benefits.
Expenses frequently exceed revenue, leading to a reduction in net assets over time.
Strengths
The organization has maintained operations despite financial challenges over several years.
Consistent reporting of 0% compensation could indicate a strong volunteer base, minimizing overhead costs.
AI Transparency Report
Block Island Economic Development Foundation Inc is a unknown nonprofit based in Block Island, Rhode Island, with reported revenue of $445K and assets of $1.4M. Our AI analysis assigns a Mission Score of 45/100 (Fair). Approximately 70% of spending goes to programs, 20% to administration, and 10% to fundraising. The organization consistently reports 0% compensation across all available filings, which suggests an all-volunteer structure or that executive compensation is not being reported in a transparent manner. Revenue has declined -86% across 12 filing periods.