Significant increase in liabilities in recent years (from $0 in 2020 to $302,035 in 2023), warranting further investigation into their nature and management.
Unusually low or zero reported officer compensation for an organization with over $2 million in revenue, which could indicate alternative compensation structures or a high reliance on volunteers for key leadership roles.
Strengths
Strong program spending ratio (75% in 2023), indicating efficient allocation of resources to its mission.
Significant revenue growth, demonstrating expanding support and capacity to serve its community (from $204,128 in 2020 to $2,144,506 in 2023).
Consistent reporting of 0% officer compensation, suggesting a highly cost-efficient leadership structure.
Positive net assets growth over the long term, from $32,016 in 2015 to $692,700 in 2023, indicating financial stability and capacity building.
Spending Breakdown
How Corazon Ministries Inc allocates its funds across programs, administration, and fundraising.
75%
Program Spending
Healthy — majority goes to mission
15%
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 Corazon Ministries Inc
Is Corazon Ministries Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Corazon Ministries Inc (EIN: 200319533) appears trustworthy. Mission Score: 90/100. 2 red flags identified, 4 strengths noted.
Is Corazon Ministries Inc a good charity to donate to?
Corazon Ministries Inc has a Mission Score of 90/100. Revenue: $2.5M. Assets: $722K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Corazon Ministries Inc?
The Employer Identification Number (EIN) for Corazon Ministries Inc is 200319533. 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 Corazon Ministries Inc spend its money?
Corazon Ministries Inc allocates 75% to programs, 15% to administration, and 10% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Corazon Ministries Inc's tax-exempt status?
You can verify Corazon Ministries Inc's tax-exempt status using EIN 200319533 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
Corazon Ministries Inc. demonstrates a strong commitment to program spending, with 75% of its expenses dedicated to program services in its latest filing. This indicates efficient use of donor funds towards its mission. The organization has also shown significant growth in revenue and expenses over the past few years, with revenue increasing from $204,128 in 2020 to $2,144,506 in 2023, reflecting expanding operations. While the organization's assets have grown, its liabilities have also increased, particularly in 2022 and 2023, which warrants monitoring. The consistent reporting of 0% officer compensation across all filings suggests a volunteer-led or very lean executive structure, contributing positively to its financial efficiency and transparency.