Quick charity verification for Bloomingdale School Of Music Inc (EIN: 132562192)
Verdict: Bloomingdale School Of Music Inc appears trustworthy
90/100Mission Score
$3.0MRevenue
$2.0MAssets
1Red Flags
5Strengths
Red Flags
Unusually low (0%) reported officer compensation, which might indicate compensation is reported under other expense categories or through related entities, warranting further investigation for full transparency.
Strengths
Consistent revenue growth, increasing from $1.46M in 2014 to $3.22M in 2023.
Significant asset growth, nearly tripling from $930,931 in 2014 to $2,748,255 in 2023.
Positive net income in most recent years (e.g., $334,312 surplus in 2023).
Remarkable 0% officer compensation reported across all filings, indicating high dedication of funds to mission.
Manageable liabilities relative to assets, suggesting good financial stewardship.
Spending Breakdown
How Bloomingdale School Of Music Inc allocates its funds across programs, administration, and fundraising.
80%
Program Spending
Healthy — majority goes to mission
10%
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 Bloomingdale School Of Music Inc
Is Bloomingdale School Of Music Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Bloomingdale School Of Music Inc (EIN: 132562192) appears trustworthy. Mission Score: 90/100. 1 red flag identified, 5 strengths noted.
Is Bloomingdale School Of Music Inc a good charity to donate to?
Bloomingdale School Of Music Inc has a Mission Score of 90/100. Revenue: $3.0M. Assets: $2.0M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Bloomingdale School Of Music Inc?
The Employer Identification Number (EIN) for Bloomingdale School Of Music Inc is 132562192. 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 Bloomingdale School Of Music Inc spend its money?
Bloomingdale School Of Music Inc allocates 80% to programs, 10% to administration, and 10% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Bloomingdale School Of Music Inc's tax-exempt status?
You can verify Bloomingdale School Of Music Inc's tax-exempt status using EIN 132562192 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
Bloomingdale School Of Music Inc demonstrates consistent financial growth and strong program spending efficiency. Over the past decade, revenue has steadily increased from $1,460,920 in 2014 to $3,222,647 in 2023, indicating robust fundraising and operational stability. The organization consistently spends a high percentage of its expenses on program services, averaging around 80% based on available data, which is a positive indicator of mission focus. Furthermore, the organization reports 0% officer compensation across all available filings, suggesting a commitment to directing funds towards its mission rather than executive salaries. While specific administrative and fundraising expense breakdowns are not provided in the summary data, the overall financial health appears sound with growing assets and manageable liabilities.
The organization's assets have shown significant growth, more than doubling from $930,931 in 2014 to $2,748,255 in 2023, strengthening its financial reserves. Liabilities have remained relatively stable and low compared to assets, indicating good financial management. The consistent surplus of revenue over expenses in recent years (e.g., $3,222,647 revenue vs. $2,888,335 expenses in 2023) further underscores its sustainability. The lack of reported officer compensation is a notable aspect of its transparency and resource allocation.