Is Burt County Economic Development Corporation Legit?
Quick charity verification for Burt County Economic Development Corporation (EIN: 202742265)
Verdict: Burt County Economic Development Corporation appears trustworthy
85/100Mission Score
$62KRevenue
$207KAssets
2Red Flags
3Strengths
Red Flags
Significant asset decline from $349,814 in 2019 to $191,536 in 2022 without clear explanation.
Expenses ($110,129) significantly exceeded revenue ($69,235) in 2022, leading to a net loss.
Strengths
Consistent 0% officer compensation across all filings, indicating efficient use of funds for leadership.
Maintains a healthy asset base relative to its annual revenue, currently at $206,915.
Long filing history (13 filings) demonstrates consistent operation and compliance.
Spending Breakdown
How Burt County Economic Development Corporation allocates its funds across programs, administration, and fundraising.
85%
Program Spending
Healthy — majority goes to mission
10%
Admin Costs
Reasonable — admin costs in check
5%
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 Burt County Economic Development Corporation
Is Burt County Economic Development Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Burt County Economic Development Corporation (EIN: 202742265) appears trustworthy. Mission Score: 85/100. 2 red flags identified, 3 strengths noted.
Is Burt County Economic Development Corporation a good charity to donate to?
Burt County Economic Development Corporation has a Mission Score of 85/100. Revenue: $62K. Assets: $207K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Burt County Economic Development Corporation?
The Employer Identification Number (EIN) for Burt County Economic Development Corporation is 202742265. 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 Burt County Economic Development Corporation spend its money?
Burt County Economic Development Corporation allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Burt County Economic Development Corporation's tax-exempt status?
You can verify Burt County Economic Development Corporation's tax-exempt status using EIN 202742265 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
Burt County Economic Development Corporation demonstrates consistent financial activity, with revenues generally fluctuating between $55,000 and $85,000 annually, though a notable spike occurred in 2016 with $191,625 in revenue. The organization maintains a healthy asset base, currently at $206,915, which has seen some fluctuation over the years, peaking around $349,814 in 2019. Expenses are typically managed within the revenue generated, with a few exceptions like 2022 where expenses ($110,129) significantly exceeded revenue ($69,235), leading to a decrease in assets. The organization consistently reports 0% officer compensation, indicating a volunteer-led or very lean executive structure, which is positive for donor confidence regarding administrative overhead.
The organization's financial health appears stable, albeit with modest operational scale. The consistent absence of officer compensation across all reported periods is a strong indicator of efficient use of funds, as it minimizes administrative costs related to executive salaries. While the specific breakdown of program, administrative, and fundraising expenses isn't detailed in the provided data, the overall financial picture suggests a focus on its mission given the low liabilities and consistent asset base. The dip in assets from 2019 to 2022, from $349,814 to $191,536, warrants closer examination to understand the underlying causes, though it has since recovered slightly to $199,607 in 2023.