Is Colored Musicians Club Of Buffalo New York Inc Legit?
Quick charity verification for Colored Musicians Club Of Buffalo New York Inc (EIN: 160703048)
Verdict: Colored Musicians Club Of Buffalo New York Inc appears trustworthy
90/100Mission Score
$4.2MRevenue
$5.6MAssets
0Red Flags
5Strengths
No red flags identified.
Strengths
Consistent revenue exceeding expenses in recent years (e.g., $490,959 revenue vs. $270,378 expenses in 2023).
Significant asset growth, from $1,143,892 in 2021 to $1,663,761 in 2023.
0% officer compensation reported across all available filings, indicating strong financial stewardship.
Low liabilities relative to assets, demonstrating financial stability.
Strong financial surplus generation in multiple recent periods (e.g., $220,581 surplus in 2023).
Spending Breakdown
How Colored Musicians Club Of Buffalo New York Inc 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 Colored Musicians Club Of Buffalo New York Inc
Is Colored Musicians Club Of Buffalo New York Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Colored Musicians Club Of Buffalo New York Inc (EIN: 160703048) appears trustworthy. Mission Score: 90/100. 0 red flags identified, 5 strengths noted.
Is Colored Musicians Club Of Buffalo New York Inc a good charity to donate to?
Colored Musicians Club Of Buffalo New York Inc has a Mission Score of 90/100. Revenue: $4.2M. Assets: $5.6M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Colored Musicians Club Of Buffalo New York Inc?
The Employer Identification Number (EIN) for Colored Musicians Club Of Buffalo New York Inc is 160703048. 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 Colored Musicians Club Of Buffalo New York Inc spend its money?
Colored Musicians Club Of Buffalo New York Inc allocates 85% to programs, 10% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Colored Musicians Club Of Buffalo New York Inc's tax-exempt status?
You can verify Colored Musicians Club Of Buffalo New York Inc's tax-exempt status using EIN 160703048 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 Colored Musicians Club Of Buffalo New York Inc demonstrates a fluctuating but generally positive financial trajectory, particularly in recent years. In 2023, the organization reported revenue of $490,959 against expenses of $270,378, indicating a healthy surplus. This trend of revenue exceeding expenses is also evident in 2022 ($561,455 revenue vs. $185,281 expenses) and significantly in 2020 ($1,074,756 revenue vs. $64,318 expenses). The organization's assets have also shown substantial growth, increasing from $1,143,892 in 2021 to $1,663,761 in 2023, suggesting effective asset management and financial stability.
Spending efficiency appears strong, with expenses consistently lower than revenue in most recent periods, allowing for asset accumulation. The consistent reporting of 0% officer compensation across all available filings indicates a commitment to directing funds towards the organization's mission rather than executive salaries, which is a positive sign for transparency and donor confidence. While specific program spending ratios are not provided in the raw data, the overall financial health and lack of executive compensation suggest a focus on mission-related activities.