Is Bob Moog Memorial Foundation For Electronic Music Inc Legit?
Quick charity verification for Bob Moog Memorial Foundation For Electronic Music Inc (EIN: 205849794)
Verdict: Bob Moog Memorial Foundation For Electronic Music Inc appears trustworthy
85/100Mission Score
$876KRevenue
$664KAssets
1Red Flags
3Strengths
Red Flags
Expenses exceeded revenue in 2022 ($696,481 vs. $599,797), resulting in a deficit for that period.
Strengths
Consistent 0% reported officer compensation across all filings, indicating high transparency and efficient use of funds.
Significant growth in assets from $43,465 in 2015 to $534,952 in 2022, demonstrating strong financial management and capacity building.
Overall positive revenue growth trend over the past decade, indicating increasing support for its mission.
Spending Breakdown
How Bob Moog Memorial Foundation For Electronic 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 Bob Moog Memorial Foundation For Electronic Music Inc
Is Bob Moog Memorial Foundation For Electronic Music Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Bob Moog Memorial Foundation For Electronic Music Inc (EIN: 205849794) appears trustworthy. Mission Score: 85/100. 1 red flag identified, 3 strengths noted.
Is Bob Moog Memorial Foundation For Electronic Music Inc a good charity to donate to?
Bob Moog Memorial Foundation For Electronic Music Inc has a Mission Score of 85/100. Revenue: $876K. Assets: $664K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Bob Moog Memorial Foundation For Electronic Music Inc?
The Employer Identification Number (EIN) for Bob Moog Memorial Foundation For Electronic Music Inc is 205849794. 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 Bob Moog Memorial Foundation For Electronic Music Inc spend its money?
Bob Moog Memorial Foundation For Electronic Music Inc allocates 80% to programs, 10% to administration, and 10% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Bob Moog Memorial Foundation For Electronic Music Inc's tax-exempt status?
You can verify Bob Moog Memorial Foundation For Electronic Music Inc's tax-exempt status using EIN 205849794 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 Bob Moog Memorial Foundation For Electronic Music Inc demonstrates a generally healthy financial trajectory, with significant growth in revenue and assets over the past decade. While the organization experienced a deficit in 2022, with expenses of $696,481 exceeding revenue of $599,797, this appears to be an anomaly in recent years, following strong surpluses in 2021 and 2020. The foundation's assets have grown substantially from $43,465 in 2015 to $534,952 in 2022, indicating good financial stewardship and capacity building. Liabilities have also increased, reaching $234,288 in 2022, which warrants monitoring but is not immediately concerning given the asset growth.
The organization's spending efficiency is difficult to fully assess without a detailed breakdown of program, administrative, and fundraising expenses from the provided data. However, the consistent reporting of 0% officer compensation across all available filings is a strong indicator of transparency and a commitment to directing funds towards the mission rather than executive salaries. This practice suggests a volunteer-driven leadership model or compensation below reporting thresholds, which is positive for donor confidence. Further analysis of the full 990 forms would be needed to determine the exact allocation of expenses.
Overall, the foundation appears to be financially stable and growing, with a commendable approach to executive compensation transparency. The recent deficit in 2022 should be observed in future filings to ensure it was a temporary fluctuation rather than a trend. The significant increase in assets over time suggests effective fundraising and asset management.